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Is The Monaco (MCO) Correction An Opportunity To Pick Up Some Cheap Tokens?

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At the start of this week, Monaco (MCO) went for a little over six dollars apiece. By midmorning on Tuesday, this had risen to $18 – a 200% increase in a little over 24 hours. At time of writing, shortly before markets open for business in the US on Tuesday, MCO tokens trade for $12 apiece, down around one third on early-morning highs.

This is some pretty volatile action and exactly how things are going to mature as we move into the primary US session is unclear. However, if the initial run was driven by a reasonable operational development, then the correction we are seeing right now might just be exactly that – a short-term correction ahead of a longer-term return to the overarching upside trend.

By proxy, if this is true, there might be some value in picking up some MCO ahead of said return.

With this noted, then, let’s try figure out whether this is the case.

For those new to this one, Monaco is a sort of payment processing application of blockchain technology built on the Ethereum platform. It’s designed as a way for users to transact using a debit card in local currencies and, by proxy, using local interbank exchange rates. The ability to use interbank exchange rates as opposed to retail rates means that the users can save substantially on purchases that they might otherwise be making with nondomestic type cards.

Monaco Chart

Monaco Chart

The company employs a Visa credit card and – through the credit card and its companion mobile application – users can buy, exchange, and spend fiat and cryptocurrencies, such as bitcoin and Ethereum, at perfect interbank exchange rates. When you’re spending $500, this can lead to a saving of somewhere in the region of $30 or $40, so we are not talking insubstantial amounts here, and it’s this degree of savings that has spurred growth to date.

Back in June 2016, Monaco conducted an initial coin offering (ICO) and raised more than $26 million – at the time, one of the most successful ICO’s ever and still up there today, even with the huge wave of ICO activity we have seen throughout 2017.

Since then, the company has on-boarded tens of thousands of users and is now headquartered in Switzerland with offices in Hong Kong and Singapore. In other words, it’s executing on its business plan to a pretty strong degree and – given the very real demand for a product like the Monaco card – we expect it will continue to do just that.

But none of this explains why we’re looking at this company today and – in turn – doesn’t really go too far towards answering the above-outlined question of, is there an opportunity here?

To answer this one, we’ve got to jump right into the current moment and highlight exactly why this coin is running right now – it’s just picked up a listing status on five fresh exchanges, as of today, December 5. These exchanges are BigONE, Exchange X, Huobi Pro, OKEx and UPBit.

Combined, these exchanges have a total reach of around 5 million cryptocurrency users and, as a result, the listing dramatically increases the available liquidity for the company’s underlying token, the MCO.

Increased liquidity should translate to an increased volume which, in turn, should help to push the token higher near term. This allows us to say with a relative degree of certainty, then, that the current action we are seeing in this one is very much representative of a near-term correction and that, in turn, we should see MCO turn around as the US session gets underway on Tuesday.

So that’s a short-term trade on an exposure to the correction and a long-term position as the company continues to execute on its game plan.


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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Please conduct your own thorough research before investing in any cryptocurrency.

 

Bitcoin

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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How Bitcoin Has Changed Online Gaming

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We always hear how Bitcoin is great for the financial industry, how it can remove the middleman and help you save money while you spend money. How it can provide fast transactions at any time to any place, even when you wish to send money to someone on the other side of the world.

While all of that is true, it is important to remember that Bitcoin’s impact does not end there. The coin has already changed countless other industries, but one of the first ones that have accepted it with open arms — and therefore one that was changed the most — is the online gaming industry.

Bitcoin’s impact on online gaming

The first thing to note here is that digital currencies have found their use in online gaming thanks to microtransactions. However, it goes far beyond simply purchasing an in-game item from another player. Bitcoin’s biggest impact, without a doubt, concerns online gambling, sports betting, and similar activities.

Bitcoin brings security and anonymity

Bitcoin casino has become one of the new most popular places for an online gambler to visit, and for numerous reasons. Bitcoin brought increased security — to the financial industry, as well as online games. This is important because security is crucial for anyone who enjoys online gambling. It…

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Bitcoin

The Crucial Role of Cryptocurrencies & Blockchain in Modernising The Telco Industry

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Blockchain has caused quite a stir in recent years. In fact, there’s a school of thought that firmly believes the digital ledger technology will prove to be the 21st Century’s biggest innovation

There are a great many industries braced for the disruptive force of blockchain, and the sweeping benefits it can bring to telecommunications can’t be underestimated. 

A blockchain is a decentralised, distributed, public digital ledger that’s fundamentally used to record transactions online. Every transaction that takes place is recorded across an extensive array of computers in a way that ensures that any individual record within the chain can’t be tampered with or retroactively modified. 

Because of the virtually impregnable security associated with blockchain and the efficiency that comes with a fully decentralised ledger, there’s plenty of potential for the technology within the telco industry in particular – especially given the financial flexibility that comes with cryptocurrency transactions beyond borders. 

Let’s take a deeper look at the important role that both blockchain and its associated cryptocurrencies can play in modernising and securing the telco industry:

Unprecedented security

The arrival of blockchain is causing a stir at Deloitte. The professional services giant has contributed tens of thousands of words on blockchain within its ‘insights’ network, and there are…

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