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

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Tron
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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

Cryptocurrency Collateralized Debt Positions Are Growing in Popularity

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collateralized debt position
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While Bitcoin (BTC) continues to hover around the magical 10,000 price level, altcoins continue to fight an uphill battle.  Simply put, hopes of a future bull run continue to diminish as Bitcoin maintains its dominance.  One school of thought is that a few altcoins will survive and flourish, but which ones are anyone’s guess.  That being said, it’s hard to go wrong picking against the top coins like Ethereum (ETH), Ripple (XRP), Litecoin (LTC), and EOS.  These projects have managed to find a foothold in the market and have a better chance than most of staying there.  While traders wait for their positions to increase in value, one opportunity that may be worth looking at is initiating a collateralized debt position.

What is a Cryptocurrency CDP?

In traditional terms, a CDP is essentially putting up collateral in order to receive a loan against the deposited amount.  There are several examples of this in our day to day lives.  Auto title loans from large companies like TitleMax are extremely popular with consumers.  Consumers are essentially able to use their car as collateral in exchange for a cash payment which can then be used for whatever needs the consumer has.  The consumer can continue using their car as long as debt payments are made.

The same concept applies to cryptocurrency CDPs.  Consumers are able to put up crypto tokens, such as…

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Altcoins

Hodium Presents a Compelling Opportunity for Outsized Investment Returns

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Hodium
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I’m sure all of us remember the cryptocurrency glory days of 2017 and early 2018.  It was one of the biggest bull runs in history and created incredibly wealth for quite a few early entrants.  Unfortunately, for most of us, those gains have most likely been wiped out during the altcoin apocalypse.  The truth is that traders probably thought a bit too highly of their trading abilities when the reality was that anyone could have thrown a dart at a board and ended up making money.

As markets mature (and the crypto market is definitely maturing) it becomes more and more difficult to generate alpha.  In that regard, it’s similar to traditional financial markets.  I can remember trading during my high school days.  It was the late 90s and right in the middle of the dot.com boom.  Eventually, however, the euphoria fades away and reality hits hard.  Now, it’s become rather difficult to actually trade profitably which has given way to the rise of hedge funds.

Hedge funds are investment funds that pool capital from accredited and/or institutional investors and invest in a variety of assets, often with extremely complex portfolio-construction and risk management techniques.  The professionals employed by hedge funds are the best of the best and have spent years honing their craft.  That is why they’re able to make the millions of dollars that they normally…

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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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