CURRENCY TRADERS Insights in Cryptocurrencies this week
- Etoro increases First-time deposits to $1000
- Ripples Price Slips after Coinbased Rumor denied
- Binance Shuts its Doors to new registration
CURRENCY TRADERS INSIGHT – Visa Pulls the plug on Bitcoin prepaid Debit cards in Europe
CURRENCY TRADERS INSIGHT Today in the News Etoro A social Trading Site for Forex and Cryptocurrency announced that Due to the recent overwhelming surge in eToro’s popularity, we are experiencing an unprecedented stream of new clients registering to trade on eToro. In order to maintain the quality and high performance of our services to both new and existing clients, we are raising the minimum first-time deposit to $1,000. This is to ensure speedier processing of deposit requests and to keep the services we provide at an optimal level.
we have also learned Via Profit Confidential the Rumor Floating around that had helped fuel the Rally in XRP about Coinbase Adding XRP is unfounded there are no plans to add any new asset to Coinbase or Gdax which could push the fall of Ripples Price faster.
CURRENCY TRADERS INSIGHT we have learned that has shut the door on New account because of overwhelming popularity it is time for Exchanges to upgrade and make changes to there aging future infrastructure soon all Exchanges after this last year are facing these same issues.[news BTC]
CURRENCY TRADERS INSIGHT
Visa Is Cracking Down on Bitcoin debit card in Europe
” Yesterday our European BitPay Card issuer Wave Crest Holdings, Ltd. received direction from Visa® to immediately close all accounts of its prepaid Visa® debit card programs. The BitPay Card (non-US) is one of these programs, along with other cryptocurrency-related and standard prepaid Visa® debit cards. Unfortunately, Wave Crest was unable to provide us or cardholders with more time to prepare for this change.” [Coindesk]
Ethereum hits record high; bitcoin briefly climbs back above $17,000
- Ethereum briefly rose 9.6 percent to an all-time high of $1,075.39 Friday, according to CoinMarketCap.
- Bitcoin briefly climbed above $17,100, according to Coinbase, but was still trading about 13 percent below its record high hit in mid-December.
- “The value of any one of these cryptocurrencies is very, very correlated with the utility. Speculators will only take it so far and people won’t hold it any more if they can’t use it,” says Benjamin Roberts, co-founder and CEO of Citizen Hex. [CNBC]
US States Issue Warnings Over Cryptocurrency Investments
The American states of Idaho and Alaska have both issued warnings over investments involving cryptocurrencies.
North American Securities Administrators Association (NASAA) has reported that 94 percent of state and provincial securities regulators believe that bitcoin and other digital currencies involve “high risk of fraud.” [CoinDesk]
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Cryptocurrency Benefits and Drawbacks
Cryptocurrencies make it less complicated to transfer price range among two events in a transaction; these transfers are facilitated via using public and private keys for security functions. These fund transfers are executed with minimum processing prices, allowing users to keep away from the steep fees charged by maximum banks and monetary institutions for twine transfers.
Valuable to the genius of bitcoin is the blockchain it uses to store an internet ledger of all the transactions that have ever been carried out using bitcoins, imparting a statistics structure for this ledger that is uncovered to a restricted hazard from hackers and can be copied throughout all computers running bitcoin software. Many professionals see this block chain as having important uses in technology, which includes online voting and crowdfunding, and major monetary establishments along with jp morgan chase see capacity in cryptocurrencies to decrease transaction fees with the aid of making fee processing greener.
But, because cryptocurrencies are virtual and do no longer have a valuable repository, a digital cryptocurrency stability may be worn out by a laptop crash if a backup copy of the holdings does no longer exist. When you consider that charges are primarily based on deliver and call for, the price at which a cryptocurrency can be exchanged for another forex can differ widely.
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