Connect with us

Bitcoin

South Korea Says No To Bitcoin Futures

Published

on

South Korea Says No To Bitcoin Futures

Bitcoin upward momentum faces its biggest test yet in the coming weeks. After rising to record highs of $14,000, some of the world’s largest exchanges are planning to introduce Futures derivatives as a way of attracting more institutional investors into the game. However, it appears the move is not going well with some regulators around the world.

 Ban On Bitcoin Futures

South Korea’s Financial Services Commission has provided the clearest of indications that Bitcoin Futures won’t be allowed in the country. Such a move would be catastrophic for the cryptocurrency given that the country is one of the biggest markets for digital currencies.

In addition, South Korea is planning to start taxing any profits generated from cryptocurrencies, a move that may not augur well with investors. Bitcoin has for the better part of the year traded on speculation. Moves by regulators to adopt a more wary stance on the cryptocurrency is thus expected to send fear in the market, which could spook investors.

South Korea has for the better part of the year maintained a soft stance on cryptocurrencies. Something that has worked in favor of bitcoin sentiments among investors in the country. A ban on Futures trading would mark the first time that the country’s regulator has moved to maintain a strong oversight in the sector.

“It is the first time for the South Korean authorities to ban trading a specific item. It seems that they made such decision worrying about if it gets out of control as they haven’t taken a position on cryptocurrency,” An official from the securities industry said.

Deputy Prime Minister and Minister of Strategy and Finance, Kim Dong-yen says the latest effort is not intended to crack down the sector but instead provide more consumer protection. The Minster says they are approaching the matter with caution, given that impractical policies could lead investors to unregulated over the counter markets which are hard to oversee.

 U.S Bitcoin Futures

The Asian nation banning Futures trading has however had little impact on Bitcoin sentiments so far. This is in part because the void is poised to be filled by exchanges in the U.S. The CBOE and the CME Group are set to start offering Futures derivatives before the end of the year. NASDAQ, a well-known tech exchange is also set to offer Futures exchange sometime in the summer of next year.

Talk of Futures contracts in the U.S is the latest catalyst that has driven bitcoin to record highs. The derivatives are expected to attract mountains of cash from institutional investors who until now have not been able to get more skin in the game.

We will be updating our subscribers as soon as we know more. For the latest updates on Bitcoin, sign up below!

Image courtesy of Patrick Rodwell via Flickr

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 Bitcoin Esport Betting the next big thing in BTC Casinos?

Published

on

Bitcoin Casinos

Ever since the creation of the first sport games, people started enjoying the betting process. As the sports grew more popular around the world, so did the betting community and other than the physical betting shops, online sportsbooks have also started to emerge. Around 5 years ago the crypto gambling industry also made strides to join the fun and Bitcoin Casino started pouring its resources into providing proper sportsbook experience for their communities of players. For several years the things were steady and the concept of Bitcoin Betting was growing exponentially. Although recent events have significantly halted the progress of sports and betting, the new alternative started gaining traction in the gambling world, and that alternative was the Esport Betting. 

How did Esport Betting become so popular?

The beginning of 2020 was unprecedented for the history of mankind and all the global business, including the gambling industry. In the month of March, most of the sports stopped because of the ongoing global Covid-19 pandemic and betting services witnessed huge losses. That’s where the Bitcoin Casino industry found a viable alternative in the virtual sport segment. Because of that, Esport Betting has become increasingly more popular and the biggest BTC Casinos started providing a huge selection of tournaments in their sportsbook section.

How to participate in Esport Betting?

Esport Betting is basically the same process as the usual sports betting.…

Continue Reading

Bitcoin

Bitcoin is Steadily Changing Our Lives in the Greatest Ways Possible

Published

on

Bitcoin

Bitcoin has already brought our world some of the most incredible innovation we have seen, but the best is yet to come. 

Bitcoin, cryptocurrencies, blockchain. While often regarded as mere industry buzzwords are actually the fundamentals of something far greater. Things like borderless currency, decentralized business, open-source software, collaborative technology, shared computing. These are just a scant few of the underlying principles that are taking our technology and daily lives into the future. Should these sciences be embraced, it will be a bright future indeed. 

It has become ever more transparent that humans today are living in fear. If nothing else, 2020 has brought the tidal wave of anxiety and distrust that many live in the shadow of, to a terrifying apex. We are all just waiting for the crash. While some flock to literature, or social media, or their favored news outlet, others flock to exchanges. Using platforms like the newbie friendly Bitvavo to place their bets on the future, on what could be, and what already largely is. Bitcoin and the technology that underpins its innermost workings are a preparation for a better tomorrow. An investment in a future that is already changing our lives today. 

The Point Behind the Hype 

In 2008, when Satoshi Nakamoto wrote the bitcoin white paper, few paid attention. It took years to…

Continue Reading

Bitcoin

AAX Crypto Exchange Announces Massive Growth Numbers in August

Published

on

AAX Exchange

As the crypto market continues to surge, new traders continue to enter the market on a daily basis.  One of the first questions that new traders have is where should they trade crypto.  While there are countless options for buying and selling digital assets, traders need to exercise extreme caution and perform due diligence to avoid scam exchanges as well as places that have limited or no volume.  While the main platforms such as Coinbase, Binance, and Bittrex will always have significant volume, their fees are known to be on the expensive side.  AAX, a next-generation cryptocurrency exchange with the lowest futures fees in the world, represents a compelling alternative that traders should consider.

Growth Announcement

A few of the most important issues to consider when deciding whether to use an exchange are the number of users and the volume.  On August 7, AAX announced that in a little over two weeks, the exchange doubled its user base bringing the grand total of registered users to over 200,000.  At this rate, AAX may surpass the million mark later this year which would be an incredible achievement and is most certainly due to a variety of factors including extremely low fees and revolutionary technology.

Institutional-Grade Exchange

When AAX decided to build its platform, it set out to meet the demands of both institutional and retail investors.  In order to achieve that goal, the exchange operates at the highest possible…

Continue Reading

Press Release