Kategorie: Crypto Markets

Ballet Crypto CEO Bobby Lee has added his voice to the many in the industry who say the pioneer PoW blockchain does not have to follow Ethereum’s path.

Bobby Lee, the CEO of Ballet Crypto, a US-based crypto storage app provider, believes Bitcoin (BTC) is fine just where it is in terms of its consensus mechanism.

Like most within the Bitcoin community, there is no need to contemplate an upgrade similar to what Ethereum (ETH) has pursued for several years now – the switch from a proof-of-work (PoW) to proof-of-stake (PoS) mechanism.

Lee’s comments were part of a broader outlook on Ethereum’s upcoming Merge set for September, and the overall bullish picture after that. He also touched on what the transition could mean for Bitcoin, the leading proof-of-work network.

The Ballet Crypto CEO, who says he is “very bullish” on crypto, shared these views with Bloomberg Television on Friday.

Bitcoin and Ethereum’s PoS switch

This week has seen Ethereum successfully activate the third of its testnets ahead of the ETH 2.0 transition via the “Merge”.

The event, slated for mid-September, has been coming since the launch of the Beacon Chain in 2020, with millions of Ether, the native token on the Ethereum network staked amid investor expectations of benefitting – not from mining, but as validators.

Amid this slow move towards the upgrade has been a call from some quarters for Bitcoin to also consider proof-of-stake, the main contention being the huge amounts of energy needed to run and secure the benchmark cryptocurrency’s network via mining.

According to the Ballet Crypto chief, attention could turn to Bitcoin if Ethereum ends up with a successful PoS network. But despite what might be a “fierce debate” on this, Lee thinks Ethereum and Bitcoin being different fundamentally means the two blockchains can go on to follow different consensus paths after the “merge.”

“Fundamentally Bitcoin and Ethereum are different even though they’re routinely lumped into the same bucket as decentralized cryptocurrency. But the reality is that they’re quite different, because Bitcoin is more about money as an underlying asset class whereas Ethereum is more about a global computation system – like a global internet computer system,” Lee told Bloomberg.

In his opinion, Bitcoin will remain a store of value and used as money, while Ethereum is set to continue running smart contracts and enable things like DeFi and NFTs and many more applications and tokens.

“And for that matter it’s not that it’s not critical that Bitcoin has to follow Ethereum for its consensus mechanism. They can be different. And right now they’re going in different directions” he added.

The post Ballet Crypto CEO: Bitcoin doesn’t have to follow Ethereum on PoS appeared first on CoinJournal.

ChangeNOW is the brand of CHN Group Limited, founded in 2017 with head office in Seychelles. It also has a branch in Amsterdam.

The platform supports almost 400 cryptocurrencies, coming to an impressive 70,000 trading pairs.

How does it work? 

ChangeNOW looks for the best exchange rates that exist on the market and tries to make them available to users. It provides a simple and seamless service. You select the currency you wish to convert and the one you want it converted to. There are no challenging interfaces or hidden fees.

You don’t have to open an account with ChangeNOW to purchase and exchange crypto. You also don’t have to undergo KYC checks.

Key features

ChangeNOW is a near-instant, non-custodial exchange where you hold your funds in your own wallet.

Multiple exchanges are not required because nearly any market pair is possible at ChangeNOW. There are also no exchange limits. You can purchase crypto via a bank card.

Main products and services

ChangeNOW’s main products and services include mobile swaps, the NOW Wallet, NOW Payments, NOW Tracker, and more. Below are the details.

The wallet lets users manage their digital assets without revealing personal data. It’s unique in that you can buy and swap crypto with fiat directly from it, it doesn’t require registration, and it provides you with full control of your private keys.

NFT functionality and 550+ assets

It features account nonce with ether transactions. This is the sending address’s transaction counter. The wallet features NFT functionality and supports more than 550 assets. You can stake BEP2 NOW tokens in the mobile app. Your annual return can reach 25%.

The app is available to users of iOS and Android. You can buy crypto and fiat on the go. A fixed or floating exchange rate will be charged. The platform will inform you if the network fees are more than 10% of the funds you will get. You can choose to cancel the swap.

You access the app with a pin code or face or touch ID. The device stores data securely. You can select the automatic lock of the screen during runtime. 24/7 support is available in the app.

NOW Payments

NOW Payments is the platform’s non-custodial payment processing service. You can integrate a button for crypto donations or payments into an e-commerce platform, a website, or a social media profile.

To use NOW Payments, you must sign up and download the integration tool. You make payments in crypto, which are sent to ChangeNOW’s accounts. NOW Payments charges low fees, starting at just 0.5%, and provides instant payouts.

NOW Tracker

With NOW Tracker, you can track your funds held both online and offline. It doesn’t collect personal data, just like all other ChangeNOW products.

You can check how much your crypto of choice is worth in 23 fiat currencies or another cryptocurrency. You can see portfolio distribution graphs via network and ticker. What’s more, the tool lets you monitor asset value over time, so you can decide whether to buy a given asset or not.

NOW Token

ChangeNOW’s native token, one of the first to be released on Binance Smart Chain, is available in both ERC20 and BEP2 formats. You can swap it for other cryptos, buy ChangeNOW products and services with it, and get cashback in it.

You can buy NOW Tokens at the best rate from ChangeNOW but also on Uniswap, IDEX, Binance DEX, and Swapzone.

NOW Loans

Finally, you can use NOW Loans to borrow funds in USDC or USDT with your crypto as collateral and trade with them. The loan terms range from a few hours to a few years. The platform doesn’t require monthly payments.

Pros 

·         No custody

·         Outstanding security

·         Supports a wide range of digital assets

·         Limitless and instant exchange

Cons

·         Not all fiat currencies are available

Why should you use ChangeNOW?

Reasons include low fees, high security, and instant, unlimited exchanges. Transaction fees range from 0.5% to 4%. They are determined by your choice of fixed or floating rate.

ChangeNOW has higher security than most centralized exchanges. Customers hold the funds in their wallets, which are monitored 24/7. Monthly private key updates and the use of a VPN and safe-listed IP addresses enhance security.

You can start trading with less than $2 worth of crypto. There is no upper limit. The majority of transactions are carried out in five minutes.

What makes ChangeNOW unique? 

ChangeNOW’s most notable feature is the lack of any restrictions on buying or selling cryptocurrencies. You don’t have to provide any personal data. 

ChangeNOW is on the cheap end of instant exchanges, particularly for fiat-to-crypto purchases. Platforms like Switchere and Changelly require registration for all purchases above $100, but ChangeNOW doesn’t.

Our final say

ChangeNOW was rated 4.5 of 5 on TrustPilot by over 350 people at the time of writing. The Android app was rated 4.3 of 5. These are strong ratings and it is not difficult to see why. 

The user experience is seamless. The platform is fast and it boasts a responsive support team.

The post The ultimate 2022 ChangeNOW review appeared first on CoinJournal.

Binance has recovered and frozen crypto assets worth over $450,000 that were stolen from Tuesday’s front-end attack on decentralized crypto exchange Curve Finance.

Binance CEO Changpeng Zhao said through a tweet that the exchange is now working with law enforcement agents to return the seized funds to the victims.

Binance froze/recovered $450k of the Curve stolen funds, representing 83%+ of the hack. We are working with LE to return the funds to the users. The hacker kept on sending the funds to Binance in different ways, thinking we can’t catch it. 😂#SAFU https://t.co/Ekea9moeAw

— CZ 🔶 Binance (@cz_binance) August 12, 2022

The news comes two days after another $212,000 worth of ETH was intercepted by the crypto exchange Fixed Float.

The assets seized by Binance represent 83% of the overall amount of crypto assets stolen in Curve Finance’s attack.

The Curve Finance front-end attack

Curve Finance was on August 9 exploited for about $573,000 worth of crypto assets after the attacker(s) spoofed the Domain Name Service in its frontend and redirected users to a phishing site that tricked them into approving a malicious smart contract.

The attacker(s) then converted the stolen assets to ether (ETH) and started sending the ETH to multiple addresses as they tried obfuscating the stolen funds.

But luckily for the victims, the attacker(s) did not do a thorough job in covering his/her tracks since as it stands all of the stolen funds have now been recovered.

The post Binance seizes over $450K worth of crypto assets stolen from Curve Finance appeared first on CoinJournal.

Bitcoin evangelist Jack Mallers’ Bitcoin payments app Strike has launched its eagerly awaited Visa card. The Card will allow users to make direct deposits, buy bitcoin, pay in bitcoin, use Apple Pay and Google Pay to spend funds, send and receive money, and earn rewards.

Strike is a Lightning Network-built payment app that allows users to make payments and earn rewards on spending.

The launched Visa Card duped Strike Card, will be availed to all those who register for the waitlist in the Strike app.

Strike in an announcement said:

“The Strike Card is here! A Visa card with real rewards for the real world. You can now take Strike anywhere and earn rewards on everyday spending. Join the waitlist in your Strike app for early access as we begin rolling out the card to everyone.”

Combining traditional and crypto payments experience

The Strike payment app combines traditional and crypto payment experiences with instant rewards for spending.

Strike Card users will not be charged any additional fees when using the card and will rather get instant rewards on every spending.

Additionally, Strike has proposed to send 1% of all the profits made by Strike Card to an open-source Bitcoin development that is likely to drive more bitcoin adoption across the globe.

Strike said:

“Funding Bitcoin with every swipe. Putting our money where our vision is.”

Strike will also offer additional rewards to those who refer friends and family for the Visa Card.

The post Jack Mallers’ Bitcoin payments app Strike launches its eagerly awaited Visa card appeared first on CoinJournal.

NOWPayments is a cryptocurrency payment gateway that lets users accept payments in more than 100 cryptocurrencies. It supports auto coin conversion, allowing merchants to accept their crypto of choice even if the customer makes payment in another one. 

The gateway supports fiat conversion and has a Mass Payout solution, a Twitch donation button, and customized solutions for casinos.

The platform gives access to a personal account manager, lets customers receive instant payouts to an e-wallet or bank account, offers 24/7 support, and is known for some of the lowest fees on the market.

Among the tools available to merchants are API, widgets, invoices, and plugins for WooCommerce, PrestaShop, Opencart, ZenCart, Magento 2, etc. Last but not least, NOWPayments doesn’t take custody of users’ funds.

How it works

NOWPayments lets online marketplaces accept payments in crypto quickly and easily. It works like this: the marketplace sets the price, lists a Bitcoin address, and receives payments without go-betweens. All payments made are visualized in one table.

Each Bitcoin payment is linked to the specific customer and their purchase. Order and payment IDs streamline cash flow.

The merchant can see the sum of money sent and if it corresponds to the original price because each payment is attached to a specific item in the store. They can track the payment under Status and get updates on their payments here.

Users of NOW can use a tool to get instant payment notifications if they integrate the API to create a native-looking payment gateway. They’re notified when a transaction has been completed.

The inbuilt crypto swap tool exchanges customers’ coins before the system reflects the payment in the merchant’s account.

Finally, the dashboard lists the number of payments the merchant has received on a specific day, in a given month, and over the course of its existence.

Key features

NOWPayments is most notable for its capacity to make accepting crypto payments online effortless and easy. You can integrate it into WooCommerce or other content management systems already being used on your website.

The platform employs a helpful support team, who accompany customers at every step of the setup process.

The crypto exchange feature makes it easy to manage a large number of different cryptos. Users can not only accept more than 100 different cryptos but also convert each one to a single, preferred digital or fiat currency automatically.

Pros

·         Easy integration into existing operations and sites

·         Responsive customer support

·         Easy to exchange crypto assets

·         Straightforward to accept crypto payments online

·         Does not take custody of user funds

·         Plugins available for a number of CMS platforms

Cons

·         No mobile app

·         No support for point-of-sale (PoS) systems

·         Sandbox documentation could be improved

Reasons to register with NOWPayments

The company behind NOWPayments is ChangeNOW, which has been active in the cryptocurrency space for many years and has never had a security issue. NOWPayments has inherited this strong track record. ChangeNOW has even helped people recover funds lost in incidents with crypto exchanges.

Users’ funds with NOWPayments are safe because the user is always in control of them. The only real risk is when assets are being exchanged. The user controls the private keys to their crypto assets and needs to be comfortable with the respective responsibility.

What makes NOWPayments unique? 

NOWPayments is unique in the problems it solves with fiat exchange, crypto swapping, user funds control, etc. Let’s look at how it does this.

More customers want to be able to pay in crypto, but some businesses accept fiat only. By providing a crypto-to-fiat option, NOWPayments helps them get more customers. NOWPayments’ range of buttons and plugins and the intuitive API can benefit any organization that wants to begin accepting cryptocurrencies.

Many businesses that already accept crypto will only take payment in the leading ones, like Bitcoin or Ethereum. It can be a problem if the customer wants to pay in another crypto.

The cryptocurrency payment gateway helps businesses overcome this issue by providing automatic conversion. The customer can pay in their crypto of choice, but the seller will get the coin or token they initially required.

Last but not least, NOWPayments stands out with its round-the-clock support. Each customer is assigned a personal account manager. The payment platform provides full assistance regardless of the issue and integration support.

Final thoughts

NOWPayments enables a simple but effective practice: the vendor sets the price, lists a Bitcoin address, and receives direct payments. As a non-custodial service, it might not be a good option for users who are uncomfortable with the responsibility of holding their funds.

The post What to know before signing up with NOWPayments appeared first on CoinJournal.