Binance To Begin CELER Token Trading On March 25 With Three Trading Pairs

Binance Cryptocurrency exchange will list CELER Token and will open trading on March 25 with three pairs including CELR/BNB, CELR/BTC and CELR/USDT at 4,00AM (UTC).
To recall, CELER token sale was hosted on Binance launchpad and concluded raising $4million in just 18 minutes. Following the excitement, out of 39003 interested only 3129 investors were lucky enough to participate in CELER token sale on Binance launchpad. Moreover, the minimum limit to participate in the token sale was set for $20 as minimum tokens to buy and $1500 is the maximum wherein 1 CELER token was valued 0.000434 BNB.
Following the completion of the token sale, CELER tokens will soon be available on Binance exchange.

#Binance Lists @CelerNetwork Token ($CELR) and Completes Distribution of $CELR
— Binance (@binance) March 23, 2019

Consequently, users can log in their account and start trading CELR tokens at Binance exchange on March 25 by using either BNB, BTC or USDT. Additionally, such token listing fee is 0 BNB, Binance blog mentioned.
The announcement further reads that;
Binance has also completed the distribution of CELR to all successful Binance Launchpad participants, as well as to the winners of the CelerX Tester Reward Competition. You may confirm receipt of these tokens via the “Distribution History” page in the User Center.
The Celer Network token sale was the third token sale conducted on Binance Launchpad. The first two were Fetch.AI (FET) and the BitTorrent token (BTT). The BTT sale concluded on January 28, with investors purchasing all 50 billion BTT tokens, worth of $7.1 million, in less than 15 minutes. The FET token sale raised $6 million dollars on February 25.
To note, CELER Network Token Sale or CELR token sale counts as the third token sale on Binance Launchpad – followed by Fetch.AI (FET) and BitTorrent Token (BTT). Specifically, the first token sale was BTT, conducted on January 28 and second being  FET, conducted on February 25 and reportedly raised USD$6 million.

So readers, what do you think about upcoming CELR trading on Binance? share your opinion with us
Image source – Binance official

The post Binance To Begin CELER Token Trading On March 25 With Three Trading Pairs appeared first on Coingape.
Source: CoinGape

Binance is going country-hunting in search of their ‘regulatory paradise’, says report

Binance, one of the world’s largest cryptocurrency exchanges has been hopping in and out of several countries in search of the right regulatory environment for cryptocurrency trading, stated many cryptocurrency executives, according to Decrypt Media.
In the past two years, the exchange has seen its core-operations move in and out of China, Japan, Singapore, Bermuda and now, has shifted to the island nation of Malta. The report stated that this constant shuffle was for regulatory comfort and not for a better-decentralized model.
Ari Paul, CIO and managing partner of Blocktower Capital, called this regulatory chase one that the exchange will continue until it reaches its goal of “diplomatic immunity” with a compliant government.
The claim made by Paul could be attested by the exchange’s own words. In a March 2018 Medium Post, Binance stated:
“Any country that can attract Binance to open a branch in their location will receive a handsome tax income revenue.”
Prior to the China crackdown on cryptocurrency companies, Binance looked to shift its operations to Japan, but was met with the iron fist of the country’s Financial Services Agency. Binance was initially operating without a license, but the FSA issued a warning to the exchange on the grounds of failing to perform identity checks of their Japanese investors.
Even when it comes to their native token Binance Coin [BNB], cryptocurrency executives are not fully convinced, especially from a regulatory standpoint. The exchange maintains that the token is separate from the workings of the exchange, but some, like Scalar Capital’s co-founder Linda Xie, view this as a more mainstream financial product. She said,
“I have some concerns on the regulatory side with BNB, because you have this pseudo-equity model, where you have the cash flows of the company that are kind of tied to the valuation of the token. You have this situation where they’re taking their cash flows, they’re buying up BNB and then burning it.”
Xie added that there were definitely negative regulatory implications for the exchange with respect to their token due to the seemingly direct valuation link between the two. She further added that Binance dodging regulations was a reason for its success, but will also be a flaw in the long-run.
Paul added to his earlier point stating that Binance’s scurry from country to country will continue until it finds a nation that allows it “diplomatic immunity”. He added:
“They’ve been cozying up to some of the government they’ve been working at. I think the way they end up evading regulatory accountability is probably something like regulatory capture at the national level—like, capturing the regulators of a place like Malta or Singapore and getting literally an ambassadorship or government post.”
In October 2018, the investment fund of the Singapore government funded Binance’s expansion in the country. Vertex Ventures, a limited partner with Temasek Holdings, the wealth fund of the city-state backed the Binance Singapore project to push its expansion into Southeast Asia.
Furthermore, with regulatory pressure climbing, Binance, in September 2018, moved to Malta and subsequently signed a Memorandum of Understanding [MoU] with the country’s national stock exchange. The move was due to the country’s positive attitude to blockchain and cryptocurrency.
During the move Changpeng Zhao, the CEO of the exchange, stated:
“So we are registered in multiple locations and we have people in multiple locations. That way we will never be affected by one regulatory body.”
Kyle Samani, the managing partner at Multicoin Capital, questioned the regulatory recourse financial watchdogs could take if they do find malfeasance on Binance’s part. Samani said,
“One of the biggest challenges right now, if you’re a regulator out there, is it’s unclear how enforce meaningful penalties on Binance.”
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Source: AMB Crypto

Ontology [ONT] Sees Epic Rise of 24 Percent Following 200,000 ONG Trading Competition

Ontology (ONT) is the only blooming cryptocurrency among top 20 coins with as much as 24 percent over the past 24 hours. At the moment, the coin sits on 17th spot, moving upward to enter the market cap of 15th largest coin.
Ontology (ONT) Surged Again
On one hand trading volume of leading cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), XRP doesn’t appear to be in a thrilling graph – Ontology (ONT), on the other hand, sees an epic rise of 24 Percent within a couple of hours. Consequently, as per the data provided by coinmaketcap, ONT is trading at the value $1.38 against USD and as such, its average trading volume counts $681,067,252.

Majority of trading volume of ONT coin comes from exchanges like Bit-Z, Huobi Global, Binance, DigiFinex, OKEX,, Upbit and unlike. Although Bit-Z contributing as much as $34,690,324 with pair of USDT, Binance, DigiFinex, OKEx, and Huobi are contributing to multiple pairs including USDT, BTC, KRW, ETH and more.

However, there’s no recent listing that could directly link with the surging volume of ONT but analyzer is closely connecting the spike is a result of Ontology’s giveaway of 200,000 ONG token (Ontology Gas) among traders as a celebration to mark their listing anniversary on Binance cryptocurrency exchange. Accordingly, trader with higher trading volume of ONG at Binance excahnge (between 14-21 march) was supposed to win a prize. For those who don’t know the connection between ONT and ONG, Ontology Network uses dual token – ONT is the coin used for staking in consensus whereas ONG is the utility token.

$ONG Trading Competition – 200,000 $ONG to Give Away!
— Binance (@binance) March 13, 2019

Moreover, on March 19, Mobile digital currency wallet called ‘Banko Wallet’ announced to support ONT token along with ONG token as well as Ontology DApps. The announcement reads that;

Banko Wallet now supports ONT, ONG, and Ontology dApps. Banko Wallet brings along its 7,000+ active dApp users and provides quality crypto asset management services and user experience for the Ontology community. Read more and download at: $ONT $ONG
— Ontology (@OntologyNetwork) March 20, 2019

Besides this, speaking with CNBC media, Ontology founder Li Jun also revealed that the firm is now working with Lanxess Chemicals company on chemical supply chain tracking.

Talking with CNBC, Li Jun mentioned Fosun has finished their Ontology-based loyalty points solution, improving their system which has 100 million users. He also shared that Ontology is working with Lanxess on chemical supply chain tracking. $ONT $ONG
— Ontology (@OntologyNetwork) March 21, 2019

The post Ontology [ONT] Sees Epic Rise of 24 Percent Following 200,000 ONG Trading Competition appeared first on Coingape.
Source: CoinGape

Lightning Labs Releases Loop Feature to Improve Bitcoin Payments on Lightning

Lightning Labs Releases Loop Feature to Improve Bitcoin Payments on Lightning
Lightning Labs has announced alpha release of Lightning Loop aimed to imrove the efficiency, scalability, and usability of Lightning.
Lightning Labs Releases Loop Feature to Improve Bitcoin Payments on Lightning

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Source: CoinSpeaker

Bitcoin and Cryptourrency Exchanges’ Reported Trading Volumes Found Fake

Independent research conducted by TIE, developed in partnership with Social Market Analytics suggests that 59% of the exchanges have falsified their trading volume data by more than 90%.
The Research Parameters and Technique Implemented

The chart below shows reported trading volumes per exchange vs. monthly web visitors. While exchanges like #Kraken, #Binance, and #Coinbase show similarities between viewership and trading volume, others like Coinbene and ZBG have suspiciously high reported volume vs. views.
— The TIE (@TheTIEIO) March 18, 2019

The organization made a comparison between the website viewership metric and the reported trading volume on exchanges. Furthermore, when they calculated the amount of money per user in the Exchanges, they found considerable discrepancies in the records.
For Example, while Binance reported $750 traded per visit, DOBI reported a whopping $356,625
Furthermore, an average of $591 per visit was estimated on websites like Binance, Coinbase, and Bitfinex.
We selected these exchanges because of large usage among institutions, reputation within the market, and because their web viewership appeared consistent with their reported trading volumes.
This estimated formed the benchmark for test on other exchanges as well. Surprisingly, more than 75% of the Exchanges reported trading volumes double of what is expected.
The total estimated suspicious volume on the exchanges is 87%.

If each exchange averaged the volume per visit of CoinbasePro, Gemini, Poloniex, Binance, and Kraken, we would expect the real trading volume among the largest 100 exchanges to equal $2.1B per day. Currently that number is being reported as $15.9B.
— The TIE (@TheTIEIO) March 18, 2019

Exchanges to trust
According to the report Exchange which maintained parity with the reported trading volume and expected trading volume are Binance, Bitfinex, Coinbase, Kraken, Bitstamp,, Bittrex, Gemini Poloniex, Coindeal, and so on.
The research was conducted on over 100 exchanges. Since 75% of them were found of falsifying data, the trust and support for these exchanges are sure to grow in the future.
Exchanges not to be trusted
While Okex is currently ranked one on‘s list of exchanges according to trade volume, the report suggests that more than 90% of the data on Okex might be suspicious. Other popular Exchanges that made the red or caution list were Bit-z, Coinbene HitBTC,, Coineal, LBank, Bibox, and so on.
Need for Regulation
The report by TIE not only brings ominous news to the crypto-community but also revisits the need for regulation of Exchanges. While the largest economies of the world have cracked down on some cryptocurrency based platforms, some exchanges continue to gain limelight by falsifying volume data; an unethical practice.
A revelation of this kind can hurt the price of Bitcoin and other cryptocurrencies adversely. However, the unreported volumes of OTC trade around the world buffer the effect of false amounts reported on Exchanges.
The post Bitcoin and Cryptourrency Exchanges’ Reported Trading Volumes Found Fake appeared first on Coingape.
Source: CoinGape

Malta: Registered exchanges in island country top trade volume list

The island country of Malta, which became a cryptocurrency and blockchain hub in 2018, topped the list of countries with virtual currency exchanges ranked by their trade volume. Malta’s rise to the top was largely due to Binance, currently second on the chart in terms of adjusted volume, which shifted its base in the second half of 2018.
A report by CryptoCompare, studied several exchanges and their trading volume between December 2018 to February 2019. Malta is home to two of the top 5 exchanges, Binance and OKEx, accounting for $18.95 billion and $16.83 billion of the total monthly trade volume.
Following Malta on the list were other crypto-havens like Hong Kong, South Korea, Samoa, Seychelles, Vanuatu, and Singapore. Other notable exchanges in the top-10 were ZB and ZBG headquartered in Samoa, LBank and HitBTC based out of Hong Kong, CoinBene, from Vanuatu, IDAX from Mongolia, among others.
In terms of fiat-to-crypto exchanges, South Korea took the top two spots, with Bithumb and Upbit bringing in $26.81 billion and $5.72 billion monthly volume. Other notable exchanges were Bitfinex, Kraken, Coinbase, Bitstamp, and BitBank.
The country-wise analysis further pointed to an increase in the monthly-trade volume by 8 percent since January for Malta alone. In the same period, Hong Kong and South Korean exchanges saw a bump of 12 percent and 6 percent, respectively.
In February, the trade volume between the three top countries was within a few billion of each other. Mata recorded $35.9 billion, Hong Kong $34.5 billion, and South Korea $33.2 billion in trade volume.
Source: CryptoCompare
The CryptoCompare report also details a case of lopsided trade size with the number of trades deeming the activity “suspicious”. The report cited the case of LBank, which recorded a low number of trades (around 4,000) and a higher average trade size ($16,400). This revelation came days after a report from The Tie stated that several cryptocurrency exchanges faked their trade volumes.
On studying the web views to arrive at the expected volume and comparing it to the reported volume, The Tie found that several exchanges recorded trade volumes lower than 1 percent of what was reported. BitMAX, LBank, BW, and ZBG, were the culprits, according to the report.
The study, which looked at 100 exchanges, stated that exchanges like KuCoin Coinbase Pro, Gemini, BitBank, Bitstamp, Kraken, and Coinone all recorded trading volumes under their calculations as the metric employed showed a value of over 100 percent. Binance and OKEx recoded values of 78.82 percent and 5.94 percent respectively.
Several cryptocurrency proponents were left enraged by the findings of this report. Changpeng Zhao, the CEO of Binance, stated that reporting inflated trading volumes is “destroying credibility with pro users”.
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Source: AMB Crypto

Huobi announces launch of Huobi Prime, a premium token listing channel

Chinese crypto firm, Huobi, announced the official roll-out of Huobi Prime, a premium token listing channel, which will be released on 26 March 2019. With this feature, users will be able to trade in ‘high potential digital assets,’ before they are listed on the main exchange.
According to Leon Li, the Founder and CEO of the Huobi Group, it is aimed at accessing promising crypto assets at rates substantially lower than their market price.
The announcement stated,
“To foster fair price discovery, and to avoid potential risks brought to users by severe volatility, we will introduce ‘Price Limit’.”
According to a statement released by the group, users on its platform will have an investment cap of $1,000 in HT tokens, which boiled down to nearly 2,220 HT per sale, owing to the trading price, at press time.
The project can be compared to Binance Launchpad, with its main goal being to provide a platform for “transformative crypto projects.” Like the Launchpad, Huobi Prime plans to list the digital assets against its native token HT for trading.
In what may be an indication of the crypto-winter receding, trading platforms have opened up their roster to new and promising assets. In a similar roll-out, the Malta-based exchange, Bittrex, launched a token sale on its platform, in a bid to make the gaming system more transparent, with their first Initial Exchange Offering [IEO].
The latest Huobi feature comes a week after the crypto firm announced support for Tron [TRX] decentralized apps [DApps] on its multi-chain Huobi Wallet. The wallet currently supports Bitcoin, Ethereum, Tron, Bitcoin Cash, Bitcoin SV, XRP, EOS, Ethereum Classic, and Litecoin, as well as all ERC20 tokens and stablecoins.
The roll-out followed a month after the Chinese group’s Australian unit was shut down eight months into its launch, due to poor market conditions.
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Source: AMB Crypto

Following BitMEX’s Footsteps? Programmer Reveals Margin Trading Code In Binance’s Bitcoin Pairs

While cryptocurrencies have fallen dramatically over the course of yesteryear, volatility has plummeted. Per data gathered by BitVol, an analytics provider, the Bitcoin-to-USD 30-day volatility has fallen from 7.5% at BTC’s $20,000 peak to 2.6% today. It’s a similar sight for Litecoin, Ethereum, and an array of other liquid crypto markets.
Thus, many traders looking to turn a quick buck have turned to margin trading, as they intend to emulate the risk-return potential they took on in late-2017.
BitMEX’s Stellar Year
This shift in trading habitudes, which has led many speculators to utilize 10x leverage on their trades, has allowed margin-enabled exchanges like BitMEX to bolster its clientele, rake in billions, and outperform their spot-only counterparts by many a magnitude over 2018.
Tom Lee of Fundstrat estimated in a keynote that the exchange raked in $1.2 billion in fiscal 2018, making the crypto exchange more profitable than Hong Kong Exchanges & Clearing and Nasdaq, even while Bitcoin is just a decade-old creation.
Lee isn’t fully speculating either. On multiple days throughout 2018, BitMEX posted upwards of 1,000,000 Bitcoin worth of nominal trading volume, securing dozens of millions in trading fees in the process.
This stellar performance and record-setting volumes have been reflected in the growth of BitMEX’s insurance fund, which has swelled from 2,720 BTC at 2018’s start to 22,260 BTC today, and the establishment of a Hong Kong office in the city’s most lavish downtown tower.

Related Reading: BitMEX Rents World’s Most Expensive Skyscraper, Rising Status of Crypto Exchanges
Rumor has it that BitMEX’s hegemony over the margin space could be coming to an end though, as Binance has begun to look into stealing some of Arthur Hayes’ rapidly-growing cake.
Binance API Suggests Bitcoin, Ethereum Margin Support
When Binance launched in 2017, it promised its ICO investors a stellar platform that would support everything under the sun. Although the Malta-delivered startup has delivered on much of its original promises, the company’s whitepaper mentioned “margin trading” as a part of its “feature rollout.” Yet, Binance has kept its mouth shut on the subject matter for upwards of a year, in spite of margin being clearly listed as being on the exchange’s radar.
But, this is changing. A self-proclaimed programmer recently took to Reddit to reveal that there’s a high likelihood that he found margin trading-related code in Binance’s public API. The user, going by the moniker “enriquejr99,” noted that Binance has “silently included” two booleans that are as follows: isSpotTradingAllowed and isMarginTradingAllowed. These two lines of code were first spotted in Binance’s Ethereum-Bitcoin pair.
Enrique added that upon further analysis of Binance’s 482 trading pairs, he discovered that margin trading was mentioned, but is currently disabled.
It isn’t clear when the booleans were added, but the exchange’s recent multi-hour downtime could be when Binance’s developers quietly added that in, as the company could very well be readying up to give its millions of users access to leverage. The details of this purported project are, of course, scant. But initial margin support for popular cryptocurrencies, such as Bitcoin and Ethereum, would make sense.

Excelling Amid Crypto Winter
All this only underscores Binance’s propensity to excel amid harrowing market conditions. The platform, headed by its fervent leader in Changpeng “CZ” Zhao, has arguably staved off the so-called “crypto winter” entirely through embarking on a number of ventures.
On Tuesday, the company unveiled what is known as Binance Lite, a service allowing Aussies to purchase Bitcoin and brick and mortar stores. Lite purportedly gives locals an “easy way” to buy BTC at over 1,300 shops across Australia, making this Binance’s most recent take on cash-to-crypto on-ramps. In related news, CZ has hinted that his company intends to offer a fiat on-ramp in now-blockchain-friendly Argentina, which would follow similar platforms in Singapore, Lichenstein, Jersey, and Uganda.
But this is just the tip of the iceberg. Over recent months, Binance has embarked on a journey to launch its own blockchain, which would house a decentralized exchange (DEX) to directly compliment For those who missed the memo, Chain will utilize a Delegated Proof of Stake (DPOS) consensus mechanism, while Binance’s BNB  token will act as the network’s gas, just as ETH is for Ethereum.

In a Twitter Q&A session, Binance’s CZ even commented that due to the barebones nature of Binance Chain —  lack of a virtual machine means no smart contracts — the network should be able to generate one-second blocks, each of which pertains to “a couple thousand” transactions. Although some have bashed Binance for trying to compete with itself, Zhao made it clear that DEXs is the next step in the evolution in the cryptocurrency market.
The company’s ability to put its best foot forward has allowed its in-house token, BNB, to swell from $5 in mid-December to $15 where it sits now, giving investors a silver lining in this bear market.
Featured Image from Shutterstock
The post Following BitMEX’s Footsteps? Programmer Reveals Margin Trading Code In Binance’s Bitcoin Pairs appeared first on NewsBTC.
Source: New

TOP Network is Chosen as the First Project to Launch on Huobi Prime

TOP Network is Chosen as the First Project to Launch on Huobi Prime
The official launch of Huobi Prime is scheduled for March 26. It has been announced that TOP Network will be the first project listed.
TOP Network is Chosen as the First Project to Launch on Huobi Prime

Continue reading at Coinspeaker
Source: CoinSpeaker

Binance Lite Australia Set to Lead Australia’s Blockchain Innovation Roadmap

Binance, #1 cryptocurrency exchange is all set to capture the crypto crowd of Australia with the launch of a new service called ‘Binance Lite’. The new service is Binance’s first fiat-to-crypto on-ramp in Australia, meaning Australians can visit at Newsagents or technology news outlet to exchange their fiat to crypto.
Binance Lite Australia – Buy Bitcoin with AUD
Per the Binance’s official announcement, the Binance Lite will enable customers to buy crypto assets using their fiat money – across and over 1300 supported newsagents in Australia. At present, Binance Lite will facilitate the purchase of Bitcoin only – with plans to support other altcoins and fiat in the near future.

#Binance Goes Down Under, Launches Cash-to-Crypto Service in Australia 🇦🇺@binanceliteau provides a user-friendly platform that further strengthens cryptocurrency adoption in Australia.
Full details below 👇
— Binance (@binance) March 20, 2019

Speaking about the new service launch, Binance’s Chief Finance Officer, Wei Zhou details;
Binance Lite Australia further expands digital currency adoption by providing easier ways to buy [Bitcoin]… Australia has been at the forefront of blockchain innovation, and we hope Binance Lite Australia can play a role to help further this cause.”
Similarly, Binance blog notes Zhao’s statement;
“Australia has been at the forefront of blockchain innovation, and we hope Binance Lite Australia can play a role to help further this cause,”
Binance’s Smart and Quick Move Captures Country’s Interest inBlockchainn Innovation
The largest crypto giant is at its best and quick way to capture the country’s forefront blockchain initiative. As Coingape recently reported joint Ministries from Australia has announced national blockchain roadmap, boosting with AUD10,000 funding from the federal government.
If we recall, Binance’s latest initiative of Binance Lite comes in a wake of Austrian Joint ministry’s announcement of making Australia as the global leader in terms of blockchain technology. As such, the joint ministry also announced to bridge the gap between Blockchain based Austrian firms and customers with their support.
“The national strategy puts us on the front foot in exploring how government and industry can enhance the long-term development of blockchain and its uses,”
The report further reveals that Binance Lite users should undergo with KYC and AML procedures. Upon completing and verifying the account, Australian customers of Binance lite will be able to place an order online, they can deposit cash at a newsagent and they can receive their bitcoin within minutes. All such service has backed a fee of five percent for operations. It looks like, Binance is leaving a definite mark among the crypto crowd in Australia, following the big move by Ministry for Industry, Science and Technology Karen Andrews and Minister for Trade, Tourism and Investment Simon Birmingham.
The post Binance Lite Australia Set to Lead Australia’s Blockchain Innovation Roadmap appeared first on Coingape.
Source: CoinGape

Binance Announces Fiat-to-Bitcoin Brokerage Service in Australia

Binance Announces Fiat-to-Bitcoin Brokerage Service in Australia
Binance Lite Australia will allow people in Australia to buy Bitcoin using cash. To deposit cash, they will need to visit the nearest Newsagent store.
Binance Announces Fiat-to-Bitcoin Brokerage Service in Australia

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Source: CoinSpeaker

Ripple’s XRP on adoption spree; Toronto-based Coinberry adds cryptocurrency

Coinberry, the Toronto-based, FINTRAC-registered cryptocurrency trading platform, announced the addition of XRP, a cryptocurrency on a massive adoption run lately. With the latest development, Coinberry has enabled the trading of all four of the world’s largest digital assets, on its trading platform.
Coinberry posted,
Source: Twitter
Ripple’s native token has witnessed widespread adoption, both by institutional players like banking establishments, and payment networks, who plan to leverage its speed and scalability. In a recent poll by UK-based firm, PayGlobal, XRP was voted as the most sought-after crypto by the community. This resulted in the payment company prioritizing the digital coin, XRP, over other cryptocurrencies.
The coin further gained popularity and wider access after being added by exchanges like Binance and Coinbase. Last week CZ’s Binance announced support for XRP on its Trust Wallet, which already had support for Bitcoin [BTC], Ethereum [ETH], Litecoin [LTC], Bitcoin Cash [BCH] and other ERC 20 tokens. This enabled the exchange’s wallet users to access the digital coin via credit card.
Coinbase and Coinbase Pro had previously listed support for XRP on its platform, along with other major crypto assets such as Bitcoin [BTC] and Ethereum [ETH], following the launch of its new Wallet App.
The post Ripple’s XRP on adoption spree; Toronto-based Coinberry adds cryptocurrency appeared first on AMBCrypto.
Source: AMB Crypto

Will the Binance Move into Aussie Newsagents be a Boon for Crypto Adoption?

Global crypto exchange giant Binance has announced that it will be helping to facilitate the sale of Bitcoin in Australia at real-world locations. The trading venue stated that crypto users would be able to get exposure to the number one digital asset in more than 1,300 newsagents across the country.
The news highlights the exchange’s commitment to expanding the number of fiat gateways to the cryptocurrency economy. However, details of the purchase process might mean that the service is used less people than many of those braying for the fall of government-issued currencies would like.
Binance Lite Becomes the Firm’s First Fiat-to-Crypto On-Ramp in Australia
The new service being launched by the global exchange giant will be called Binance Lite. It represents first time the hugely successful yet relatively new cryptocurrency trading venue has managed to open a fiat-to-cryptocurrency service in the nation of Australia.
According to a report in The Next Web, the exchange’s Chief Finance Officer, Wei Zhou, stated the following of the its latest move:
“Binance Lite Australia further expands digital currency adoption by providing easier ways to buy [Bitcoin]… Australia has been at the forefront of blockchain innovation, and we hope Binance Lite Australia can play a role to help further this cause.”
The decision by Binance to work with Australian newsagents has a lot in common with the plan, announced last year, to allow French tobacco shops to sell vouchers for Bitcoin purchases, much like they do for pay-as-you-go mobile phone top ups.
However, in order to remain compliant with Australia’s financial regulations, those wishing to use Binance Lite must first register for the service. This requires a full account verification process (KYC/AML) meaning that the service will be less appealing to those wishing to preserve financial privacy.
Once this step is complete, the customer can buy Bitcoin at any one of more than 1,300 newsagents across the nation. A full map of locations offering Binance Lite, provided by Binance Labs, is featured below:

Binance: Making the Right Moves to Promote Crypto Adoption Worldwide
As one of the largest trading venues in the cryptocurrency industry, Binance has been right at the forefront of promoting cryptocurrency adoption around the world. Already in 2019, the now-Malta-based exchange has announced a couple of initiatives to help make taking up positions in crypto easier than ever.
The first of these was the news that the main Binance global exchange would begin to accept credit card payments in January. Such an extension to accepted payment methods is obviously a net positive for the space since it offers people an additional way to buy digital assets. However, investing in Bitcoin, Ether, Binance Coin, or any other highly volatile and speculative asset on credit is certainly not recommended.
Elsewhere, Binance is working towards delivering on one of the most often-repeated, unofficial goals of Bitcoin – to bank the unbanked. The exchange opened Binance Uganda in October of last year. It has since seen massive numbers of accounts opened, which is certainly encouraging for adoption on the largely-unserved-by-crypto African continent.
According to Medium post, Binance also has plans to open a fiat-to-cryptocurrency exchange in Singapore at a for-now undisclosed date.
Related Reading: Is Largely Unbanked Africa Primed for Bitcoin Adoption?
Featured Image from Shutterstock.
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Source: New

60% of the world’s top 100 crypto exchanges fake trading volumes, says The Tie report

Exchanges have faced a tough time since the onset of the crypto-winter. However, as an investigation by The Tie suggests, some exchanges have taken to faking trading volumes and attracting users to their platform.
The Tie tweeted the report of their investigation, a report that concluded by stating very few exchanges did not fake trading volume, while most of the exchanges faked trading volumes. Most of the users’ go-to page for info about cryptocurrencies and exchanges was CoinMarketCap. Hence, exchanges listed on CMC faked volume to attract more users to its platform.
The Tie fetched the number of web views using Similar Web, and divided the same with the trading volume reported by these exchanges. This gave the reported volume per visit. To create a standard for comparison,  The Tie selected Binance, Coinbase Pro, Poloniex, Gemini, and Kraken, and calculated the weighted average of trading volumes, which amounted to $591, per web visit.
The obtained figure, $591, was then multiplied with web views, which gave the expected volume of the exchanges. Comparing this to the reported volume provided proof of how exchanges fake their trading volumes.
The attached report showed the same. Some of the culprits, according to The Tie’s report, included BitMAX, Lbank, BW, and ZBG. In fact, the investigation found that the expected volume was lower than 1% of these exchange’s reported volume.
The Tie stated,
“When we divided the top 100 exchanges’ expected by their reported volumes, we found that 59% of exchanges’ reported volumes were over 10 times higher than what we would have expected had they similar volume per visit to Coinbase, Binance, Kraken and others.”
The chart attached below shows the same, with the bars colored in red indicating the exchanges whose reported volume was double the expected volume. Exchanges with a better ratio of reported and expected volume were colored in green.
Source: The Tie | Twitter
Binance CEO, CZ, retweeted The Tie’s report, and commented,
“Why do exchanges fake volumes?
@CoinMarketCap is highest traffic website in our space, and biggest referrer for all exchanges. Ranked high on CMC has benefits for getting new users. BUT at the expense of DESTROYING CREDIBILITY with pro users. Many forget the later part.”
The post 60% of the world’s top 100 crypto exchanges fake trading volumes, says The Tie report appeared first on AMBCrypto.
Source: AMB Crypto

Celer Network’s ICO Completed in 17 min on Binance’s LaunchPad

Celer Network’s ICO Completed in 17 min on Binance’s LaunchPad
Binance Launchpad, the token sale platform of the world’s largest cryptocurrency exchange, has completed yet another successful token sale – that of Celer Network.
Celer Network’s ICO Completed in 17 min on Binance’s LaunchPad

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Source: CoinSpeaker