Trade.io is the latest exchange platform that threatens to revolutionize operations in the financial sector. The decentralized trading platform plans to leverage blockchain technology to solve intrinsic issues that have gripped the sector in the aftermath of the financial crisis.
The exchange platform has inked a partnership with HitBTC exchange one of the largest cryptocurrency exchange. The partnership underscores the company’s commitment to cooperating with highest participants in the blockchain field as it moves to harness blockchain technology synergies.
The peer to peer platform uses Raiden network and Etherum main net to enhance the speed at which transactions are processed. Unlike other platforms that continue to struggle with the bottleneck problem, Trade.io can process up to 1 million transactions in a second.
Trade Token, is the platform’s native digital currency. The token is designed to offer real value as companies and users will have to match their tokens with real-world assets. Wallet holders may also partake the Liquidity pool, which is a large pot of money offering daily payouts and amounts equivalent to annual profits.
Participants in the trading platform will be able to lend directly to each other through a peer-to-peer lending program. The platform will also help companies issue tokens and launch initial coin offerings when in need of additional funds.
Transparency, ironclad security, and low fees are some of the benefits that Trade.io promises clients looking to enhance their trading adventures. The platform also comes with advanced base network and asset-based token as well as an exciting profit sharing model.
Blockchain technology is one of the few technologies that has proved to be reliable in succeeding where regulation has failed. The blockchain platform is now using the technology to accord clients the highest level of transparency. Every trader in the platform is accountable for the activity as all transactions are traceable.
Trading records are irreversible which means corrupt brokers or bankers cannot try to manipulate the market in a bid to increase commissions.
Trade.io is set to be licensed as a bank and financial exchange after entering into an agreement with a New York City-based broker/dealer, registered with the Financial Industry Regulatory Authority. The exchange is thus expected to play by the rules given the scrutiny that comes with the license.
“Being able to conduct tradition’s business in the United States in a regulatory compliant manner is critical. The broker/dealer will afford us with tremendous opportunities and unlock many sources of revenue potential,” said Mr. William Heyn.
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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.
Image courtesy of Heating Oil via Flickr
Elon Musk Advises Crypto Users To Secure Their Crypto Keys Properly
The crypto community has not gotten over the fact that the world’s richest man has now invested in Bitcoin and has been pretty active in the industry.
However, the community is now receiving security tips for storing cryptocurrencies from Tesla’s chief executive officer. While pointing the security of cryptocurrencies, Tesla also criticized Freewallet app, a crypto wallet for its slack in security.
He also added that crypto investors should not bother doing business with wallets that don’t provide them with private keys.
Users should store their private keys
The unique way cryptocurrencies are stored makes them not redeemable when the keys are lost. Whether the holder stores them with third-party custodians or exchanges, the owner can only claim them when they provide keys to the crypto funds.
That makes securing the keys the most important thing when dealing with cryptocurrencies. As a result, selecting the safest hot or cold wallet is a priority if users want to keep their crypto investments safe.
Elon Musk has come out to advise investors to always store their private keys personally. For a company to receive the attention of the world’s richest man is something to take advantage of to grow. However, FreewalletApp’s short conversation with Musk is a sort of negative publicity to them.
After the company engaged with Musk about a Dogecoin-related post, the Tesla founder pointed out faults with the firm.
He advised digital asset investors to stay…
Bitcoin Surges After Tesla Bought $1.5 Billion Worth of BTC
The sudden rise of Bitcoin has been connected to the decision taken by the Tesla electric car company to buy $1.5 billion worth of Bitcoin.
The company explained in a filing with the Securities and Exchange Commission (SEC) that it bought Bitcoin to diversify its cash returns and more flexibility.
Musk’s Tweets also impacted Dogecoin’s price
Tesla also added that it will start accepting Bitcoin payments for all its products, although this will be based on a limited basis and applicable laws. If the company concludes and starts accepting cryptocurrency, it will make it the first major car manufacturer to accept Bitcoin payments. The company’s founder and Chief Executive Officer Elon Musk has developed an interest in Bitcoin and cryptocurrencies.
He has been tweeting severally about the viability of the Dogecoin (DOGE), which doesn’t have an important market value attached to it.
ur welcome pic.twitter.com/e2KF57KLxb
— Elon Musk (@elonmusk) February 4, 2021
Few hours after endorsing Dogecoin, the cryptocurrency rose by an impressive 50%. But regulatory authorities are still concerned about the risks in cryptocurrency investments, with several regulatory bodies warning traders and investors they could lose all their money from crypto investments.
But for Tesla, the company decides to diversify its funds and increased its cash returns. However, Tesla also warned investors about the volatility of Bitcoin’s price in its SEC filing. According to the SEC…
Partnership Between Bridge Mutual & AllianceBlock Announced
Decentralized peer-to-peer discretionary digital asset coverage platform Bridge Mutual has announced a partnership with AllianceBlock. AllianceBlock is a decentralized, blockchain-agnostic layer 2 protocol bridging decentralized finance with traditional finance. The partnership will allow AllianceBlock and Bridge Mutual to provide traditional investors with a protected bridge to DeFi through decentralized coverage.
“Discretionary coverage is a very important part of our ecosystem, so we are excited to partner with Bridge Mutual and leverage each other’s technologies,” says Rachid Ajaja, CEO of AllianceBlock. “We look forward to building an ecosystem where all participants have access to the best products while mitigating the ever-present risk of smart contract failure, hacks, and the resultant loss of collateral value.”
In 2020, as much as $200 million worth of digital assets was lost in attacks on major digital asset services. Bridge Mutual’s platform gives users the option to purchase and provide discretionary coverage, reducing investors’ risk of losing funds because of theft, exchange hacks, stablecoin price crashes, exploited contracts, and other vulnerabilities in digital assets.
By using Alliance Block’s multi-pair liquidity mining platform, Bridge Mutual will be able to offer BMI token holders instant liquidity through staking and high APY rewards for a variety of pairs. Once integrated into AllianceBlock’s P2P lending platform, Bridge mutual will be able to provide coverage to investors. Additionally, Bridge Mutual is working towards…