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Tron (TRX) UPDATE: HitBTC and Cryptopia To Support Token Migration

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Global Coin Report can now confirm that the Tron (TRX) token migration will also be supported on the two popular exchanges of Cryptopia and HitBTC. Justin Sun, via Twitter, retweeted the following tweet by Cryptopia further confirming the issue:

With respect to HitBTC, the exchange can now be confirmed to be part of the list provided by the Tron Foundation via their medium page. In a previous article, Global Coin report had got wind of the information of HitBTC supporting the migration, through a reader who had provided an email from the exchange in the comment section of the said article.

The email from HitBTC to our reader named ‘Toni’ was as follows:

“Dear Trader,

As it was already mentioned, HitBTC is going to support the Migration, so no actions are required to receive the new TRX coins.

By HitBTC Support Team”

Going back to the Cryptopia exchange, Global Coin Report had promised to update its users after one of our readers, Brad, commented the following in the same article mentioned above.

“I currently have some Tron on cryptopia but unfortunately tech support said they are not participating in the migration. It’s been in maintenance since May 9th they’re not sure when it will be out of maintenance if it’s still in maintenance after the migration what can I do I am not able to transfer anything. I guess my main question is if I transfer it to another exchange after the coin migration is done will that work thanks for the help.”

Summing it up, the Tron (TRX) token migration will happen on the 24th of June at 0:00 am (UTC + 8) or what Justin Sun likes to call ‘Singaporean Time’. At that time, all the exchanges participating in the token migration will freeze all deposits and withdrawals then take a snapshot of all balances on the exchanges. The token swap will then be done by the exchanges with no need for the users to intervene.

Once the migration is done, withdrawals and deposits will resume on the various cryptocurrency exchanges supporting the migration.

To note is that Binance will be supporting permanent token migration after the 24th. This means if you miss out on the dates of the 21st to the 24th, you can move your ERC20 Tron tokens to Binance and they will do the swap for you.

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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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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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Altcoins

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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