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Peer-to-peer Bitcoin Trading With no Fees Through Bitcoin Global

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NullTX Bitcoin Global

Buying and selling Bitcoin worldwide should not only be convenient, but also cheap. Bitcoin Global recently announced how all traders are done free of charge throughout August 2020. A significant step forward to broaden global adoption of the world’s leading cryptocurrency

Introducing Bitcoin Global

Peer-to-peer trading of cryptocurrencies helps broaden their global appeal. For Bitcoin, there is a growing number of peer-to-peer trading platforms connecting users from all over the world. Bitcoin Global is making a name for itself in this segment.  Its latest update includes the waiving of all trading fees for users. 

Qries

By removing the trading fees, the platform becomes more competitive in the cryptocurrency space.  Additionally, the team has introduced support for two new languages: Chinese and French. This helps give the platform a global appeal, as catering to users in their native tongue will help them gain better insights into what is being provided exactly. A total of four major languages is currently supported.

Advertising Bitcoin Orders

All peer-to-peer trading platforms allow users to create their orders. Depending on the current market conditions, however, one’s listings will need to be updated on a regular basis. This can often be a hassle for both buyers and sellers. Bitcoin Global has come up with ways to make this process a lot more straightforward.

More specifically, the platform provides a recently introduced price equation formula. Leveraging this technology ensures that all of a user’s orders reflect the correct market price for Bitcoin. Price data can be sourced from different exchanges, including WhiteBIT, Bitstamp, Kraken, Coinbase, and Bitfinex. 

With this information, users can then create their own equation and convert it to depict prices in one’s national currency. It is a far more convenient way  of remaining competitive among other local sellers and buyers. 

Speaking of advertisements, users are also given the option to automate their listings through API calls. Bitcoin Global’s team recently added a new API to support this particular functionality. A maximum of 5 advertisements per user account are allowed. This API further strengthens the company’s commitment to introduce more people to Bitcoin. 

Professional Security

Protecting users is paramount in the cryptocurrency space. Bitcoin Global takes this matter very seriously. All of the trades passing through the platform are protected by escrow. This secure system will ensure funds remain locked until the seller receives the payment from the buyer. Speaking of payments, all transactions occur between buyer and seller directly. No funds are ever handled by Bitcoin Global directly. This approach offers an extra layer of protection for users.

Another core security aspect is how users can further protect their account. Doing so ensures no one can take advantage of one’s account. Enabling two-factor authentication is advised at all times. Bitcoin Global gives users the choice to set this up through a mobile device – such as Google Authenticator – or a paper-based approach. Either option will work well, depending on personal preference.

Other Key Aspects

Unlike some other peer-to-peer Bitcoin trading platforms, Bitcoin Global doesn’t require identity verification. Users can register an account instantly and begin listing their buying or selling orders right away. This is an important aspect to attract new users, especially now that more languages are being added to the platform. 

Secondly, users can filter offers based on location, currency, and supported payment methods. This latter aspect is especially a nice feature. Users will often prefer to pay through specific payment methods, and this filter makes it easier to determine which orders are worth exploring. 

Source: https://nulltx.com/peer-to-peer-bitcoin-trading-with-no-fees-through-bitcoin-global/

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Cardano long-term Price Analysis: 29 November

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Disclaimer: The findings of the following article are the sole opinion of the writer and should not be taken as investment advice

Cardano recorded a stark surge in its price, despite its drop of 30% following Bitcoin’s correction on the charts. Altcoins are the ones that suffer the most due to Bitcoin’s volatility and the same has been true in ADA’s case.

However, what’s different is that Cardano’s bounce since the drop – the 30% drop – was almost fully retraced over the next 2 days. This underlined the strong buyback for ADA, one that was backed by a good volume surge on the charts.

At the time of writing, ADA’s outlook seemed 50-50. The cryptocurrency’s price was just above the 61.8%-Fibonacci level and could go either way.

Cardano 4-hour chart

Source: ADAUSD on TradingView

The 4-hour chart had Fib extensions, the moving averages, and indicators to it. While there was no pattern to it, ADA’s chart seemed eager to surge higher. A bounce from the 61.8% level could take ADA higher. However, failure to respect this level could push ADA down to the 50% level, which was at $0.1442.

Rationale

Since the odds seemed equally skewed, considering ADA’s correlation with BTC might help break it. At press time, the 60-day correlation between ADA and BTC had surged from 0.276 to 0.50.

Such a stark surge in correlation meant that ADA will promptly follow where Bitcoin goes. Since Bitcoin did show a bearish outlook, we can expect ADA to head south as well.

Additionally, there was the confluence of moving averages 50, 100, and 200. There hadn’t been a reversion to the mean between the price and these MAs. Hence, this supported the bearish scenario.

The OBV indicator showed a good surge in volume for the second wave, however, it still seemed to be lower than the previous surge. The RSI was testing the overbought zone yet again. A failure at this level would be higher, hence, a short position will make sense.

Levels to look out for

Entry: $0.162438
Stop-loss: $0.173178
Take-profit: $0.144140
Risk-to-Reward: 1.7

Source: https://eng.ambcrypto.com/cardano-long-term-price-analysis-29-november

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Ripple Plans To Cash Out 33% Of Its MoneyGram Stake With A Significant Profit

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  • The San Francisco-based payment protocol has filed a document on Friday with the US Securities and Exchange Commission (SEC). It reads that Ripple Labs has entered into an agreement with MoneyGram, which entitles Ripple to sell up to 4,000,000 shares of common stock.
  • Ripple’s option to sell these shares will expire “upon the earliest of March 31st, 2021, the time at which the maximum amount shall have been sold, or the occurrence of certain other customary events affecting the issuer.” 
  • CryptoPotato reported last year that Ripple and MoneyGram announced a strategic partnership. The initial term of the agreement was for two years. Ripple had agreed to provide a capital commitment amounting to $50 million in exchange for equity through the two-year period.
  • As per the SEC filing, Ripple owns 6.22 million shares of the giant money transfer company (or 8.6% of shares outstanding). However, the blockchain company has a warrant to buy up to another 5.95 million shares, amounting to a total equity position of 12.2 million shares or 17% of MoneyGram’s shares outstanding).
  • With the initial investment in 2019, Ripple purchased the MoneyGram shares at 4.10 per stock, which was a significant premium to the market price. 
  • Nevertheless, MoneyGram’s stocks (MGI) have surged in 2020, closing Friday’s session at $7.42. As such, Ripple can cash out with an 80% profit, despite the initial premium.
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Source: https://cryptopotato.com/ripple-plans-to-cash-out-33-of-its-moneygram-stake-with-a-significant-profit/

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South Korea To Postpone Previously Planned Crypto Income Tax

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Lawmakers in Korea are planning to postpone a recently considered tax on crypto assets profits. Reports say the tax rule delay will be about three months – instead of October 2021, January 2022.

The New Crypto Income Tax Rule To Wait Until January 2022

According to a recent media report, the South Korean congress plans to put off the recently considered cryptocurrency income tax rule. A planning and finance committee of the National Assembly has issued a report, which proposes the necessity of implementing the crypto income tax rule from at least 2022.

A few months ago, in July, a report stated that South Korea’s Minister of Finance and Economy believes that the country should come up with a tax on cryptocurrency trading and investing. Back then, he added that South Korea has been in discussion with other countries about introducing a new digital law.

In July 2020, the country’s Ministry of Economy and Finance amended its tax code, where it included the plan for charging residents a 20% tax on gains from cryptocurrency trading, which are worth more than 2.5 million Korean won (about $2,000).

Lawmakers in the National Assembly are to approve the Government’s plan, which was to carry into effect the cryptocurrency income tax rule from October 2021.

Reason For The Delay – Time Is Tight

As per the media report, the reason for the postponement of the crypto tax law is based on some concerns, raised by local crypto exchanges. They have claimed the lack of time to build their proper tax reporting system and infrastructure, needful for the process to begin.

The so-called “Specific Financial Information Act” would be enforced from March next year, so crypto exchanges have to complete the necessary reporting system by September 2021 for verifying their real names of deposit withdrawal accounts.

As CryptoPotato reported, South Korea announced the planning of the crypto income tax in June this year. The Asian country went through some different views on how and whether it should tax profits from cryptocurrency. Firstly, at the beginning of 2020, the Ministry of Economy and Finance did not consider that digital asset trading gains as taxable income. A month later, another local report said the Ministry believes that the nation could start label cryptocurrency trading profits as “other income.”

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Source: https://cryptopotato.com/south-korea-to-postpone-previously-planned-crypto-income-tax/

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