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Korbit Removes Five Coins Including Monero (XMR) and STEEM

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Korbit, the largest South Korean Bitcoin exchange platform, has announced on May 21 that it will soon delist five cryptos. The purchase of the coins will stop on May 28, and the sale is to be terminated on June 21. All coin holders are advised to get their affairs regarding these currencies in order until then.

Korbit turns its back on five cryptos

Korbit has issued quite an announcement yesterday, stating that it plans to terminate all purchases and sales of five cryptocurrencies within a month. The cryptos in question are Monero (XMR), Dash (DASH), Augur (REP), ZCash (ZEC) and Steem (STEEM). All of the mentioned coins are listed as “Other Digital Assets” on Korbit, while cryptos outside of this category will continue trading as usual.

This exchange is the oldest and largest one in South Korea, and it has stated that the trades involving these coins might return at a later date. Unfortunately, the date has yet to be established. All users are advised to “protect their interest”, as the exchange put it, before the trade is officially terminated. According to the statement, the purchase of the five coins will continue until May 28, while the sale will be possible until June 21. After these dates, the token holders won’t be able to trade in these cryptos any longer.

So far, Korbit has not issued an official explanation regarding why it is removing these coins. However, it is believed that there might be several reasons to do so, with the most probable one being that it simply follows Coincheck’s decision to remove the same coins.

After the Coincheck hack in January, the exchange was being thoroughly examined by the Financial Services Authority of Japan. The goal of this was to determine whether the exchange is capable of continuing business after such a big incident. The examination has concluded that Coincheck should not deal in cryptos that are seen as concerning, which includes four cryptos – Monero (XMR), Dash (DASH), Augur (REP), and ZCash (ZEC).

Only a week has passed since Coincheck removed these coins when Korbit decided to do the same, with the addition of Steem (STEEM).

Why did Korbit remove these cryptos?

So far, speculators were able to think of three most likely reasons for this decision. The first one might be that these coins simply did not receive the expected trading volume.

The second reason includes the exchange’s potential plans to expand to Japan, which some have been expecting for a while now. If this is true, then it is not surprising that Korbit removed the same coins that Coincheck had to delist. Its very entrance to Japan’s market might have depended on it, and the exchange simply decided to follow the same rules that Coincheck received.

The third and last potential reason is that it is simply following Coincheck’s lead on this. It is possible that Korbit relied on Coincheck’s liquidity regarding the crypto markets, and it simply had to follow along when the liquidity dried up.

Whatever the case may be, the decision has been made, and it has already affected the coins’ value. All of the five coins have experienced a significant drop in their prices. This even includes ZCash, despite the fact that it was recently added to the Gemini, the most regulated exchange in the US.

The future of privacy coins like these is still unknown, but others like Ethereum (ETH) and Bitcoin (BTC) seem to be thriving when privacy coins are losing the battle.

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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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loans for foreigners 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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Aluna.Social
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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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CoinFlip
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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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