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BitOasis lists Stellar Lumens’ XLM with fiat (USD) pair

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BitOasis is a cryptocurrency exchange specialized in the Middle East and some zones in North Africa. As of yesterday, the Stellar Lumens’ XLM digital asset is included to the company’s trading platform.

As soon as the press release was published, all BitOasis users will be able to buy and sell XLM with no trading fees at all, paired against the local fiat currency (the United Arab Emirates Dirham), but only if they live in Oman, Bahrain, Kuwait, Saudi Arabia, and the United Arab Emirates. What makes this move particular is, precisely, that pairing with the local currency instead of Bitcoin, which is the usual way to go in most crypto exchanges in the world.

It is an exchange that already offers a wide variety of digital assets such as Ethereum (ETH), Ethereum Classic (ETC), Ripple (XRP), Bitcoin (BTC),  Bitcoin Cash (BCH), ZCash (ZEC), Litecoin (LTC), and Monero (XMR). XLM is the newest family member.

The announcement came as the crypto market plummeted for the second time in less than a week, losing 25 billion until it settled at 152 billion. Every single coin went down and suffered from the bear’s hug as can be seen by a majority of double red numbers for every single one, except for Ripple that still traded in red but in single digits only.

Earlier this year Stellar Lumens was under the spotlight several times. Coinbase announced it for consideration in its platform. The project has secured several interesting strategic partnerships of which the most important is, undoubtedly, the one with IBM.

Stellar is now IBM’s only crypto partner, which means that all the projects that Big Blue wants to bring into the cryptosphere will work on Stellar’s blockchain. It will also use XLM as the native token. In the digital world, it rarely gets any bigger than this.

But despite a year full of good news for Stellar, the token has not been able to avoid taking a beating in the current market. This has nothing to do with flaws in the project, or in the coin, but rather with the fact that the market has been plummeting all year long, and every asset as felt the trend down in varying degrees.

As we write this article, SLM is at $0.2015; it’s not on the rise and trading in the red for more than a full day. Its market capitalization is at 3.86 billion, and the trade volume is of $119 million.

Don’t take its current price into account. Stellar is a blockchain project with good leadership, good technology, a clear purpose, and many relevant partners. Slowly, but surely it’s gaining adoption, and it’s challenging Ripple to become the crypto platform of choice for the traditional financial industry. And since IBM is already doing business in some way with 90% of the world’s banks, we should not underestimate the potential that XLM holds, whatever the current market trend may be.

Stellar’s logo is a rocket headed to the stars. If news like this keeps popping up in the cryptosphere regarding XLM, we don’t doubt at all it will eventually get there.

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and 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 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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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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SonicX and Dash Could Challenge Facebook’s Libra for Global Payments Market Share

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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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