Monat: November 2022

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Top 3 centralized exchange tokens to avoid after FTX crash

The collapse of FTX has been the most important cryptocurrency news this week. Its challenges came a few months after other centralized exchanges (CEX) like Voyager Digital, Celsius, and BlockFi. Therefore, there are concerns about the safety of centralized exchanges and their tokens. Here are some of the top CEX tokens to avoid.

Kucoin Token (KCS)

KuCoin is one of the biggest crypto exchanges in the world. In May, the company raised $150 million at a valuation of over $10 billion from the likes of Jump Crypto, Circle Ventures, and IDG Capital. It has over 27 million customers. In addition to its exchange, the company is exploring becoming a major player in other industries like the metaverse and gaming.

In a statement this week, KuCoin’s CEO reiterated that the exchange was completely safe and that it was in a position to handle any outflows. He talked about a major hack that happened in the exchange in 2021, which it managed to cover internally. 

He also added that the company will release its Merkle tree proof-of-reserves in one month’s time. KuCoin Token price has crashed by more than 6% in the past 24 hours and over 19.54% in the past 7 days.

How to buy KuCoin Token

Skilling

Skilling is a Scandinavian based cryptocurrency broker which has a desktop website as well as apps for iOS and Android devices. It supports over 50 cryptocurrencies and it has a demo account to allow users to gain familiarity with the platform. Skilling has no hidden fees, it is an officially regulated broker and it supports a wide range of payment methods.

Buy KCS with Skilling today

OKX (OKB)

OKX is a Seychelles-headquartered company that serves more than 20 million users in over 100 countries. It provides services like spot, margin, futures, options, perpetual swaps, DeFi, and OTC trading among others. 

OKB is the ecosystem’s native token. Like FTX’s FTT, the coin’s holders get trading fee discount that saves them up to 40% discounts. It is also used for passive income. Also, users can use it in places like Coinrule, Cobo, and Bitpie. OKB has a total supply limit of 300 million coins and burns many of them every three months. 

How to buy OKB

Huobi Token (HT)

Huobi Global is one of the biggest Chinese exchanges in the world. The company was started by Leon Li, a leading entrepreneur in the country. Huobi experienced substantial growth a few years ago. This happened as cryptocurrencies became more popular in China. 

Recently, however, the company experienced slow growth after China banned digital coins. It also experienced substantial competition from the likes of Binance and Coinbase. Last month, Leon exited his stake and sold it to About Capital, a firm associated with Justin Sun. While Huobi is doing well now, there are concerns about most offshore exchanges.

How to buy Huobi Token

Skilling

Skilling is a Scandinavian based cryptocurrency broker which has a desktop website as well as apps for iOS and Android devices. It supports over 50 cryptocurrencies and it has a demo account to allow users to gain familiarity with the platform. Skilling has no hidden fees, it is an officially regulated broker and it supports a wide range of payment methods.

Buy HT with Skilling today

KuCoin

Kucoin is a cryptocurrency exchange which offers over 200 cryptocurrencies. Kucoin has a wide range of services, such as; a built-in peer-to-peer exchange, spot and margin trading, bank level security and a wide range of accepted payment methods. Users can benefit from a beginner-friendly interface and relatively low fees.

Buy HT with KuCoin today

The post Top 3 centralized exchange tokens to avoid after FTX crash appeared first on CoinJournal.

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Crypto.com pauses withdrawals of USDC and USDT withdrawals on the Solana network

Crypto.com has notified its users that all deposits and withdrawals for Tether’s USDT and Circle’s USDC have been suspended on the Solana network.

Leading crypto exchange Crypto.com notified its customers via email a few hours ago that it had paused deposits and withdrawals for USDT and USDC stablecoins on the Solana network.

Crypto.com told its users that the pause is immediate. Hence, its users can no longer deposit and withdraw USDT and USDC stablecoins on the Solana network.

However, Crypto.com didn’t provide any explanation regarding why it is suspending those transfers. The move shouldn’t cause a problem for users as the USDC and USDT stablecoins exist on a wide range of other blockchains, including Ethereum, Polygon, BNBChain, and Tron. Crypto.com wrote;

“Following recent industry events, please be informed that we have suspended deposits and withdrawals of USDC and USDT on the Solana blockchain in the Crypto.com App and Exchange. This is effective immediately. However, you may withdraw USDC and USDT at any time using other supported networks, including Cronos and Ethereum. Please note that retrieval fees for depositing USDC and USDT on the Solana network in the Crypto.com App and Exchange will be waived for two weeks, starting from today.”

Crypto.com is adding to the market chaos caused by FTX’s ongoing struggles. Crypto exchange FTX had to pause withdrawals on its platform as it struggled to complete liquidity orders.

Binance initially agreed to acquire FTX and take on its numerous liabilities but revealed a few hours ago that it would no longer go through with the deal. According to Binance, FTX’s situation is beyond where Binance can help at the moment.

Crypto.com is one of the companies affected by FTX’s recent struggle. However, Crypto.com’s CEO Kris Marszalek said the firm’s direct exposure to the FTX meltdown is immaterial since it has less than $10 million of its own capital deposit on the FTX platform for customers’ trade execution.

The post Crypto.com pauses withdrawals of USDC and USDT withdrawals on the Solana network appeared first on CoinJournal.

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5 FTX alternatives you can invest with amid the current FTX crisis

The once cryptocurrency exchange giant FTX is facing an uncertain future following the current liquidity crunch and financial instability. The situation escalated after Binance backed out of a nonbinding agreement to buy out FTX.

According to sources familiar with the developments, Binance pulls out of its intent to take over FTX after going through its financial books.

The ongoing FTX crisis has pushed thousands of customers to withdraw their funds from the exchange in a bid to avoid having funds locked in the exchange in the event that it collapses completely. But where do you go after leaving FTX?

Best FTX alternatives

Here are the top 5 FTX alternatives that investors can invest with. In case you are looking for a particular crypto exchange that is not included in the list below, you can check out our full suite of broker reviews here.

1. Binance

Binance had a strategic investment in FTX in 2019. In the past few days, it has been embroidered in the FTX crisis and at some point offered to takeover FTX although it has since backed out of the deal. Binance itself operates the largest cryptocurrency exchange by trading volume making it one of the top choices for investors.

Click here to get started

 2. Coinbase

Coinbase offers a cryptocurrency trading and investing platform enabling users to buy, sell, and exchange over 170 cryptocurrencies Including Bitcoin, Ethereum, and Dogecoin. It is the largest US-based crypto exchange and it also became the first publicly traded crypto exchange last year after direct listing on the Nasdaq exchange. It can be a good choice for active traders interested in trading and storing multiple cryptocurrencies.

Click here to get started now

 3. Gemini

Gemini is a regulated cryptocurrency exchange based in New York and available in all states in the US. With industry-leading security features, its own hot wallet, a beginner-friendly platform, robust educational resources, and a comprehensive support centre, Gemini can be a good choice for both beginners and experienced traders.

Click here to sign up

4. Kraken

Kraken is a United States–based cryptocurrency exchange and bank, founded in 2011. In September 2020, Kraken was granted a special purpose depository institution (SPDI) charter in Wyoming, becoming the first crypto exchange to hold such a charter in the United States. It was one of the first bitcoin exchanges to be listed on Bloomberg Terminal and was valued at $10.8 billion USD by mid-summer 2022. The exchange is quite established making it a good choice for investors.

Click here to learn more

 5. KuCoin

KuCoin is a secure cryptocurrency exchange that allows you to buy, sell, and trade Bitcoin, Ethereum, and 700+ altcoins. It is a Seychelles-based crypto exchange launched in 2017. Founded as “the people’s exchange,” KuCoin’s rich set of features and low fees make it a compelling choice for advanced crypto investors, particularly outside the US.

Click here to sign up

The post 5 FTX alternatives you can invest with amid the current FTX crisis appeared first on CoinJournal.

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Best 3 Ethereum-based tokens to watch when the bull market returns

2022 has been characterised by a prolonged crypto winter. For this reason, most cryptocurrencies are trading at depressed levels. But one sure thing is that digital assets will be back on track again. Thus, buying the best tokens will rank top in investors’ minds. 

Tokens of reputable blockchains like Ethereum will top the list of the best investable opportunities. The following tokens will outperform the market in the bull market.

Ethereum (ETH)

ETH is the native cryptocurrency of the Ethereum blockchain. It is the second largest cryptocurrency, making it one of the most important tokens. Having topped $4,800 in value in November 2021, ETH trades at a quarter-fraction of its former self.

Ethereum completed its much-anticipated Proof-of-Stake shift or Merge in September this year. Although initially falling after the Merge, investors followed up with the token accumulation. That helped ETH to rise back to $20,000. It has since been falling in the wake of concerns over the collapse of the FTX exchange.

In the next bull run, ETH could pick up where it left off and return massively to investors. A return to the previous all-time high could see the cryptocurrency return by more than four times.

Where to buy ETH

eToro

eToro is a global social investment brokerage company which offers over 75 cryptocurrencies to invest in. It offers crypto trading commission-free and users on the platform have the option to manually invest or socially invest. eToro even has a unique CopyTrader system which allows users to automatically copy the trades of popular investors.

Buy ETH with eToro today

Skilling

Skilling is a Scandinavian based cryptocurrency broker which has a desktop website as well as apps for iOS and Android devices. It supports over 50 cryptocurrencies and it has a demo account to allow users to gain familiarity with the platform. Skilling has no hidden fees, it is an officially regulated broker and it supports a wide range of payment methods.

Buy ETH with Skilling today

Polygon (MATIC)

Aside from the native ETH token, Polygon’s MATIC is easily the best Ethereum-based token. Polygon blockchain serves as an Ethereum scaling solution. Owing to Ethereum’s high gas fees and slow transactions, Polygon has created a name as the run-to blockchain for investors seeking interoperability.

MATIC rose to prominence in 2021, tapping a high of $2.90. Although the cryptocurrency has crashed this year alongside other cryptos, several developments have occurred. The latest was the selection of Polygon by tech giant Meta for NFT minting. The cryptocurrency has also demonstrated resilience and has been recovering, teasing investors interested in the Layer-2 scaling solution.

Where to buy MATIC

eToro

eToro is a global social investment brokerage company which offers over 75 cryptocurrencies to invest in. It offers crypto trading commission-free and users on the platform have the option to manually invest or socially invest. eToro even has a unique CopyTrader system which allows users to automatically copy the trades of popular investors.

Buy MATIC with eToro today

Skilling

Skilling is a Scandinavian based cryptocurrency broker which has a desktop website as well as apps for iOS and Android devices. It supports over 50 cryptocurrencies and it has a demo account to allow users to gain familiarity with the platform. Skilling has no hidden fees, it is an officially regulated broker and it supports a wide range of payment methods.

Buy MATIC with Skilling today

Decentraland (MANA)

You can’t talk of the metaverse without mentioning Decentraland’s MANA. However, after a boom in 2021, owing to the number of entities entering the virtual reality world, the situation has been different this year. MANA has been on a downward spiral, presenting opportunities for dip buyers.

Investors have not given up, and the metaverse will continue to grow. The sector is expected to grow up to $13 trillion by 2030. As a leading metaverse-focused blockchain, Decentraland will continue to grow. Consequently, its native token, MANA, will follow suit.

Where to buy MANA

eToro

eToro is a global social investment brokerage company which offers over 75 cryptocurrencies to invest in. It offers crypto trading commission-free and users on the platform have the option to manually invest or socially invest. eToro even has a unique CopyTrader system which allows users to automatically copy the trades of popular investors.

Buy MANA with eToro today

Skilling

Skilling is a Scandinavian based cryptocurrency broker which has a desktop website as well as apps for iOS and Android devices. It supports over 50 cryptocurrencies and it has a demo account to allow users to gain familiarity with the platform. Skilling has no hidden fees, it is an officially regulated broker and it supports a wide range of payment methods.

Buy MANA with Skilling today

The post Best 3 Ethereum-based tokens to watch when the bull market returns appeared first on CoinJournal.