Connect with us

Blogs

Why Ethereum-Based Tokens Get Listed on Coinbase Faster?

Published

on

Ehereum
READ LATER - DOWNLOAD THIS POST AS PDF

Coinbase, one of the largest cryptocurrency exchanges in the world, has been known for being quite picky when it comes to tokens it lists on its platform. As per user requests, this exchange decided to expand its list of tokens and has announced that it will review multiple coins on several occasions throughout 2018.

Recently, Coinbase finally started expanding the list with a new addition — 0x (ZRX). However, multiple other coins still have a chance of being chosen for getting Coinbase’s support. These include Basic Attention Token (BAT), Cardano (ADA), ZCash (ZEC), as well as Stellar Lumens (XLM).

One consequence of a coin getting listed on Coinbase includes something called the Coinbase Effect. This is a term used for coins that usually experience a significant price surge following the announcement that Coinbase will support them. It happened when BCH and ETC joined the exchange, as well as after 0x was chosen.

Ethereum-based coins have the coding advantage?

A lot of investors are still wondering what was it that allowed ZRX to gain support from Coinbase before others. Coinbase even got accused of favoritism due to its choice.

The simple reason is the fact that three out of five 0x project’s advisers have a link to the exchange. While some may consider this a matter worthy of investigation, cryptocurrency industry remains highly unregulated. In short, Coinbase did not break any rules by picking ZRX due to this reason.

While this reason is probably the most influential factor that influenced Coinbase’s decision, there are other, technical reasons why the exchange decided to go for ZRX. For example, ZRX is, as mentioned, an Ethereum-based coin. That makes it easier to integrate onto the platform that already supports not only Ethereum but Ethereum Classic as well.

With this being the case, many have speculated that BAT might be the next coin to gain support since it is also Ethereum-based. This is, of course, still only a speculation, and it will likely just happen if Coinbase keeps choosing coins based on technical point of view.

Considering that BAT experienced a price surge soon after ZRX was selected to join Coinbase, it might seem that a lot of investors managed to connect these same dots and get to the same conclusion.

Can ZCash be the next one?

Many speculate that ZCash might be the next one in line. Even though it is a privacy coin — a type of cryptocurrency that focuses on privacy and security, which is why it is often being frowned upon — ZCash has made a big breakthrough recently.

The coin has just surged by 7.5% in the last 24 hours, and in the process, it overtook the 20th spot on the list of largest cryptos, effectively replacing Dogecoin. Many believe that ZCash experienced this spike due to its future Sapling network upgrade. This is an upgrade that will bring numerous improvements to ZEC’s shielded transactions.

As a result, many expect ZCash to become more dominant among privacy coins, as well as to boost its adoption. With Sapling upgrade, transactions are to become faster but still protected. It will also bring features such as improved keys, and decoupled spend authority.

As mentioned, a recent price surge has brought ZEC to the 19th rank, which is where it currently resides. Unfortunately, the coin is currently trading in the red, with losses of almost 2%. Its current price is at $123 per coin at the time of writing.

For real-time trade alerts and a daily breakdown of the crypto markets, sign up for Elite membership!

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.

Image courtesy of Geralt/Pixabay

Altcoins

Aluna.Social is a Compelling Social Platform for Crypto Traders and Investors

Published

on

Aluna.Social
READ LATER - DOWNLOAD THIS POST AS PDF

When one thinks about the social media landscape, the companies that first come to mind are most likely Facebook, Instagram, LinkedIn, and Snapchat.  These platforms are a great way to stay connected with friends, families, and colleagues, especially when geographic distance is a factor.  But, in addition to just chatting about life in general and sharing pictures, social media can be used to bridge the information gap that exists within the investment community.

Over the last decade, many trading offices have been established in large cities all over the world which allow solo traders and investors to pay a monthly fee in exchange for a workspace.  The real benefit to trading in these offices is to participate in the free flow of trading ideas and information.  Proprietary trading is one of the most challenging careers to be successful at and the exchange of ideas is almost required in order to succeed.  Traders at hedge funds and investment banks work in teams so why shouldn’t remote traders?

While these trading offices are a great way to help bridge the information gap, Aluna.Social may provide an even better way, especially as it relates to cryptocurrency trading.

Mission Statement

Aluna.Social, founded by Alvin Lee and Henrique Matias, is a multi-exchange social trading terminal for crypto traders and investors.  The goal of the platform is to help newcomers shorten their learning curve,…

Continue Reading

Altcoins

CoinFlip Scores Big with BRD Wallet Partnership

Published

on

CoinFlip
READ LATER - DOWNLOAD THIS POST AS PDF

As the crypto markets move closer to mass adoption, one of the keys for future success will revolve around attracting as many market participants as possible.  While many crypto users are extremely tech oriented, a lot of those on the sidelines are not.  The cause of waiting on the sidelines could be due to a variety of reasons such as fear of the unknown, lack of knowledge, age, or a combination of all of the above.  In order to entice new users to join the crypto revolution, crypto ATMs are rising up across the country.  Of those, the largest and most influential crypto ATM company by a significant margin is CoinFlip.

In early October, CoinFlip announced on its Twitter that it had officially partnered with BRD Wallet to re-introduce their crypto ATM map.  Now, BRD wallet users will be able to locate their nearest CoinFlip ATM and receive a 10% discount for both buys and sells.  BRD brand awareness is growing quickly within the crypto community thanks to its innovative and entrepreneurial spirit.  The team strongly believes in the value of financial freedom and independence, and want to empower people across the world by leveraging the possibilities that Bitcoin and other cryptocurrencies provide.

Cryptocurrencies are already making a huge difference around the world.  Citizens of Venezuela, a country devastated by rampant inflation, have been using several cryptocurrencies…

Continue Reading

Altcoins

Cryptocurrency Collateralized Debt Positions Are Growing in Popularity

Published

on

collateralized debt position
READ LATER - DOWNLOAD THIS POST AS PDF

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…

Continue Reading

Elite