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Skrill Joins the Cryptocurrency Trade

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A popular mobile payment operator and an online wallet, Skrill, has decided to add buy and sell options for cryptocurrencies as its newest feature. The wallet will allow fiat-to-crypto trading, as a result of a new wave of crypto frenzy.

Skrill soon to feature crypto buying and selling options

A lot of people are already familiar with Skrill – a well-known payments service that is one of PayPal’s larger rivals. Skrill is also known for being a digital wallet, and a part of the Paysafe Group. Now, Skrill has made a large step forward by opening up to cryptocurrencies, at least to some extent.

According to new reports, Skrill has decided to add buying and selling options for cryptos within its platform. The payment service has decided to open up these options to users in 30 different countries. For now, the service is planning on supporting Bitcoin (BTC), Bitcoin Cash (BCH), Litecoin (LTC), and Ethereum (ETH).

To achieve this, Skrill launched Skrill Cryptocurrency Service via an exchange that was not yet revealed. This unknown exchange will be the crypto holder for Skrill. This is a bit of a negative news since it means that users will only be capable of selling and buying an interest in cryptos. As for the cryptos themselves, at this time, users will not be able to own them. This also means that paying with cryptos or sending crypto holdings will not be possible at first.

However, Skrill has stated that it plans to expand the possibilities of the service in the future, meaning that it is only a matter of time before these features actually become a reality.

Even though the service doesn’t allow the actual purchase and sale of cryptos as of yet, Skrill still mentioned the ease of use of the new features. In a recent press release, it was mentioned that the process is really simple and that it requires logging into the user account, choosing the ‘Exchange’ option, and that is it. The possibilities of selling, buying, or even just holding cryptos are only a few clicks away.

Lorenzo Pellegrino, the CEO of NETELLER and Skrill, stated that the crypto trading has become very dynamic and exciting. Because of that, the company’s wallet is practically lending itself to the crypto holders. Adding the possibility of buying and selling cryptos within the app itself will be more than appealing to customers interested in the new trend.

Additionally, Pellegrino stated that the company is convinced that the overall interest in cryptos is growing and that there are many users who would want to experiment with trading cryptos. However, their problem is that they don’t know where to start, and are in need of a simple and straightforward process, which is exactly what Skrill is bringing to them.

For now, the service is still in development, but it is expected to go live and join Skrill’s mobile app, as well as Paysafe’s NETELLER in a couple of months.

Financial services make a move on cryptos

It is interesting that the company has decided that now is the right time to make such a move, especially considering that a lot of other financial services are thinking of doing similar things. Interest in cryptos continues to grow, and financial institutions and services are realizing that joining the trend can be much more profitable than denying its existence.

Robinhood app, which has launched its Robinhood Crypto service, has been able to start expanding across the US immediately after raising up to $363 million. Baiju Bhatt, the firm’s CEO, stated that various sovereign nations will certainly start accepting cryptos before long. He even believes that cryptos will become default currencies for the world’s nations at some point in the future. This is why Robinhood, and others like this firm, are taking a lead. In fact, Robinhood is even discussing the possibility of offering full banking services, as some reports claim.

Similarly, the company called Circle, which is backed by Goldman Sachs itself, has purchased Poloniex earlier this year and has paid $400 million for it. Square Cash application has started providing its users with buying and selling options for Bitcoin, recently. Also, in May, CryptoGlobe issued a report in which it claims to have earned over $200,000 by providing crypto services. Not only that, but this amount comes without calculating the changing fees.

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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

Investors Beware: Another Large Bitcoin Crash Might Be Coming

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The crypto prices have surged quite high in the last few months. Of course, their progress is nowhere near the one seen in 2017, but they appear to be getting there, one day at the time. However, things might not be as simple as that, and according to recent performance — it is more than possible that a major Bitcoin crash is incoming.

The fact is that cryptos saw a massive amount of growth in a very short period. Bitcoin itself more than doubled its price in only two months. Now, the rally is starting to crash in on itself, and the coin is already about $1,000 lower than last week. If such development does come to pass, a lot of people will experience quite large losses, although experienced investors might find some opportunities, and leverage in order to enhance their holdings’ long-term value.

For example, Bitcoin dominance is expected to crash very quickly, which will work in favor of quite a lot of altcoins. While this does not seem to be the best time to invest in BTC, altcoins are another story, and diversifying a portfolio now might end up being very profitable in days to come.

Bitcoin behavior mirrors the pre-bear market situation

The crash that analysts are predicting right now comes as a direct consequence of all the hype that has been building up in…

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Altcoins

Top 3 Coins to Buy Before They Go Big

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Crypto bulls are back, that much is clear. The long-lasting, harsh crypto winter is gone, and the new era in digital currency sector opens up some rather interesting opportunities. With many more bull runs expected to come in months ahead, a lot of coins are likely to blow up and maybe even hit new all-time highs, although that still remains purely theoretical.

On the other hand, the fact is that numerous coins are seeing prices that were not achieved since early 2018, and the overall momentum remains bullish. With that in mind, even if new records do not come for a very long time — chances are that many of the coins will blow up enough for investors to see some serious gains in months to come. As a result, investing in some of these coins now might be a very profitable decision, for those who have the patience to wait a few months. Here are some of the projects believed to have the greatest potential to go big in the second half of 2019 and beyond.

1. TRON (TRX)

Putting TRON on the list should not really surprise anyone, as the project constantly comes up with new project updates, partnerships, and alike. It also constantly breaks records, as is becoming one of the biggest players in the dApp and smart contract development sector.

In the past few…

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Blogs

Can Crypto Credit Cards Disrupt the Fight Against Financial Crime?

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It is commonly known that the world of finances has the biggest problem with the crime of all existing industries around the world. It has been so throughout history. While the financial world has evolved, so did the criminal activities, and they continue to be an issue. With the arrival of cryptocurrencies, many were hoping that financial crime might be disrupted. However, for now, at least, it appears that cryptos themselves cannot find a way to resolve issues such as international money laundering.

In fact, when it comes to money laundering, the crypto sector appears to be the weakest link, especially because of the nature of digital currencies. The anonymity that cryptos are being praised for means that anyone can get a payment from an unknown source from anywhere in the world. This method can then be used for financing drug trafficking, cyberattacks, terrorists, and more.

Until recently, it was not easy for bad actors to make use of cryptocurrencies obtained for illegal purposes. The number of merchants willing to accept the coins was low, and criminals were forced to find a way to exchange crypto into fiat currencies. However, this came with a set of issues, such as taking foreign exchange risks and then sending the money through wallets and exchanges to a banking system that would allow withdrawal. The banking account was the biggest obstacle here,…

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