US Online Shoppers Can Now Earn Bitcoin Rewards on Alibaba

Bitcoin-based start-up app, Lolli has announced a new partnership with Alibaba. The partnership will enable a 5% reward in Bitcoins up to its smallest unit, satoshi (1 satoshi = 0.00000001).
Changpeng Zhao, the CEO of Binance, tweets from the CoinMarketCap conference in Singapore,
– The world’s largest hotel chain now bookable with $BTC.
– And (a part of) the largest e-commerce site integrates with $BTC. You can adopt #crypto, or be left behind.
Simple choice!
Reportedly, the service will be available to only the users of the app in the US. It will be unavailable in Alibaba’s largest market, China. Nevertheless, Alibaba saw a 24% increase in its international revenue which now accounts for about 10% for total revenue. In 2018, the Giant recorded annual revenue of $35.8 billion.
The move was announced at the end of the Singles Day Festival in China. 11th November marks the shopping holiday for its citizens which records the largest shopping revenue in a day worldwide.
Alex Adelman, CEO, and co-founder at Lolli told the media,
“Our partnership allows our users to earn free bitcoin on millions of products online every day. Arguably the most important piece of this partnership is that it supports our mission of connecting the entire world through commerce.”
The partnership is a rather slow start and marginally affects the on-ramp adoption of Bitcoin. However, eventually, it could establish a strong independent payment system.
Do you think Bitcoin could establish a global link between the economies? Please share your views with us. 
The post US Online Shoppers Can Now Earn Bitcoin Rewards on Alibaba appeared first on Coingape.
Source: CoinGape

Tether Announces Support for McCormack against Craig Wright Libel Suit

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Tether Announces Support for McCormack against Craig Wright Libel Suit
Tether has announced that it will fully support Peter McCormack in defending a libel suit brought by self-proclaimed Satoshi, Craig Wright.
Tether Announces Support for McCormack against Craig Wright Libel Suit

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Source: CoinSpeaker

‘China is Active’, says Binance CEO Overwhelmed by Statistics on Bitcoin Transfers

Binance CEO, Changpeng Zhao, gets excited on twitter as he shares competitive winning statistics for his firm.
‘Come to Papa,’ says Zhao as the statistic from TokenAnalyst depicts that a large amount of crypto volume has shifted from Huobi to Binance. The platform analyses the flow of Bitcoin among exchanges. The analytics still looks in the building phases and hasn’t included other important exchanges like Coinbase and Okex.
Moreover, the flow of high-volume BTC transfers via OTC exchanges and other institutional platforms are beyond scope at the moment.
Graphic Visualization of BTC transfers across Crypto Exchanges (Source)
Competition between Huobi and Binance
According to the Bitcoin Flow Chart between exchanges, Huobi seems to have lost considerable share. It tweeted,
Huobi wallets sent the most $BTC to Binance wallets in 2019 – Total of 259K BTC was sent – Total # of txns: 48K – Avg txn value: 5.4 BTC
Nevertheless, some of the Binance users have moved their assets to Huobi as well. It looks like these many of these people might be operating accounts on both exchanges.
Binance made immense growth this year. The IEO wing of Binance, the Launchpad, issued ten cryptocurrencies on the exchange this year. Binance [BNB] Coin also grew exponentially as it attains the top ten positions according to market capitalization.
Huobi also made significant announcements in the OTC markets, IEO space and even large scale adoption with smartphones.
Moreover, in the derivatives space as well, Huobi’s Derivative Market (Huobi DM) has made significant progress since launch. It reports a $4.45 billion trading volume in the last 24 hours. The separation of the futures market with the spot on Huobi could also account for the difference with Binance. Binance Futures contracts are supported on Binance itself.
The Chinese Picture
Apart from an advantage over Huobi, CZ also suggests that contrary to popular belief, Chinese retail markets are active. With cryptocurrency exchanges banned in China, the investors have limited options when it comes to global exchanges. Okex, Huobi, Bitfinex are other prominent exchanges in the region.
However, the data from Okex was excluded from the mix. Its addition could add further clarity to the Chinese scenario.
The country has made significant advancements in the space since last month. Following the President’s announcement to lead the ‘blockchain space,’ its citizens are moving fast into the game.
Furthermore, the state authorities in China also removed Bitcoin mining from its list of restricted activities in China. The restriction created an immense stir in the market as a ban could effectively disrupt more than 60% of the total Bitcoin mining globally.
The move is bullish for Bitcoin as well as China continues to grow cutting edge hardware and efficient mining farm.
Do you think that the retail volume of cryptocurrency investment in China could increase further? Please share your views with us. 
The post ‘China is Active’, says Binance CEO Overwhelmed by Statistics on Bitcoin Transfers appeared first on Coingape.
Source: CoinGape

Binance Set to Open Beijing Branch as China Goes Pro-Blockchain

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Binance Set to Open Beijing Branch as China Goes Pro-Blockchain
Reports currently have it that the Binance exchange is making plans to open a new office in Beijing but the information is not officially confirmed yet.
Binance Set to Open Beijing Branch as China Goes Pro-Blockchain

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Source: CoinSpeaker

Blockchain Adoption: WeChat Pay Now Puts Receipts On Blockchain

Binance CEO, CZ in a recent tweet shared that now WeChat pay in Shenzhen is putting its receipts on the blockchain. WeChat is a Chinese multi-purpose messaging and mobile payment app developed by Tencent. Is it a hint enough that WeChat pay will soon support crypto payments as well? 
Crypto Twitter Lauds Chinese Efforts
Source- Twitter
Cz’s tweet led to a series of tweets by the crypto twitter asking about the blockchain is being used is it a new blockchain or the  Bitcoin blockchain. Further, tweets went on to laud China’s technological efforts and said the Chinese were living in the future. 
WeChat Pay’s Tryst With Crypto
Earlier in May, WeChat updated its privacy policy which confirmed that merchant accounts which found dealing in cryptocurrency transactions will be terminated soon. WeChatPay’s parent company Tencent even issued key measures to effectively monitor crypto activities. These included forbidding users from using Wechat payment to make crypto transactions. This was accompanied by real-time monitoring of daily transactions and risk assessment of any suspicious transactions. 
Binance Adds WeChat and AliPay to its Fiat Gateway 
Two weeks back, Binance announced that it is all set to add WeChat and Alipay to its fiat gateway. The initiative is currently in a testing phase for Android users and will eventually be fully rolled out on iOS and Web. WeChat and AliPay emerged as the most popular payment processors for crypto traders after Chinese regulators announced a ban on the functioning of crypto exchanges.  WeChat pay remained unavailable for comment at the moment. It is interesting to note how the technologies across the world are recognizing the prowess of blockchain and are keen on adopting it.  
Will Chinese regulators lift the ban on crypto trading? Will WeChat Pay integrate crypto payments in the future sometime? Let us know, what you think in the comments below!
The post Blockchain Adoption: WeChat Pay Now Puts Receipts On Blockchain appeared first on Coingape.
Source: CoinGape

Binance Launches Support for Nigerian Naira in Partnership with Flutterwave

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Binance Launches Support for Nigerian Naira in Partnership with Flutterwave
Binance has announced that Nigerian crypto enthusiasts anywhere in the world will now have access to crypto trading, with support for the Nigerian Naira.
Binance Launches Support for Nigerian Naira in Partnership with Flutterwave

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Source: CoinSpeaker

Binance Futures Rolls 125X Leverage on Bitcoin Futures Contracts

Per an official announcement by Binance’s twitter handle, Binance Futures has increased maximum leverage on Bitcoin (BTC)/Tether (USDT) contracts to 125x.
Users Can Now Hold 12,500 USDT in Bitcoin
Following the new announcement, traders can now trade with x-125x leverage. Furthermore, they can trade larger positions by adjusting to lower leverage. This will also allow users with 100 collateral deposits on Binance Futures to hold 12,500 USDT in Bitcoin.
Source-Binance 
Binance Futures previously offered up to only twenty-times margin on trading. This was much less than the 100x leverage provided by rival exchange BitMEX. With this feature, Binance Futures now stands at par with BitMEX.
From the CEO’s Desk
Changpeng Zhao (CZ), Binance’s CEO expressed his enthusiasm and said,
The platform has seen increased institutional participation in trading, with professional traders driving the need to introduce cost and performance efficiencies ways to support very fast trades.
He further said that Binance traders not only have the benefits of a risk management system, they also have access to an insurance fund. This, in turn, can help limit the chances of auto-deleverage.
When asked about the risks involved in such high leverage margin trading said, Aarong Gong, Director of Binance Futures said,
The 125X feature was in high demand among customers. In this update, we provide built-in risk controls for traders and have also released a slider bar function, which allows users to choose their leverage between 1x and 125x. Conservative users are invited to set their leverage as low as 1x.
Binance Futures Continues to Record High Volumes
Recently, Binance Futures recorded a volume of $700 M on its BTC USDT Futures on the 15th of October. Binance Futures further recorded its first 24 hr 100K BTC day on the 15th. Furthermore, the futures’ platform recently set a new precedent and traded 16K BTC in an hour, recording the 4th highest in the crypto futures industry. Interestingly, in a span of 5 days, Binance Futures managed to climb up the 3rd highest position. A tweet by AG Binance mentioned how Binance Futures are on a bull run and have already reached No 2 spot in terms of 24-hour volume.
Source- Twitter
What will be Binance’s next developmental initiative? Let us know what you think in the comments below!
The post Binance Futures Rolls 125X Leverage on Bitcoin Futures Contracts appeared first on Coingape.
Source: CoinGape

New Defi Project Kava to Launch its Token on Binance Launchpad

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New Defi Project Kava to Launch its Token on Binance Launchpad
The Kava defi project is set to launch from the Binance Launchpad on October 23rd.
New Defi Project Kava to Launch its Token on Binance Launchpad

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Source: CoinSpeaker

Binance Futures registers ATH growth of 388 percent over the past month

Bitcoin Futures and its importance has been the talk of the crypto-industry for the last few months now. Bakkt’s launch brought in massive attention but, the Malta-based Binance wasn’t to be ignored as the CZ-led exchange introduced its own Futures market on 13 September. In a recent blog post, Aaron Gong, Director of Binance Futures, […]
The post Binance Futures registers ATH growth of 388 percent over the past month appeared first on AMBCrypto.
Source: AMB Crypto

Amun and Binance Launch BNB ETP on Swiss SIX Stock Exchange

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Amun and Binance Launch BNB ETP on Swiss SIX Stock Exchange
Binance’s token BNB has been featured to serve as the underlying asset for a new Exchange-Traded Product in partnership with Amun AG.
Amun and Binance Launch BNB ETP on Swiss SIX Stock Exchange

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Source: CoinSpeaker

Binance’s Peer-to-Peer Trading in China is Great for Everyone

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Binance’s Peer-to-Peer Trading in China is Great for Everyone
Cryptocurrency exchange platform Binance launched its P2P trading facility for trading cryptocurrencies against the Chinese Yuan. This way, the company is opening a kind of a “safe space” for Chinese traders who want to trade cryptos.
Binance’s Peer-to-Peer Trading in China is Great for Everyone

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Source: CoinSpeaker

Binance.US reducing adoption hurdles with zero trading fees, claims CEO Catherine Coley

Malta-based cryptocurrency exchange, Binance, recently launched its American-exclusive trading platform, Binance.US. The exchange launched this platform in an effort to comply with regulatory obligations proposed by the financial watchdogs of the United States. The platform went live two weeks ago with seven cryptocurrencies namely, BTC, ETH, XRP, BCH, LTC, BNB, and USDT. However, USD and […]
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Source: AMB Crypto

Binance Introduces XRP to Binance Chain and Binance DEX

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Binance Introduces XRP to Binance Chain and Binance DEX
Binance decided to re-create XRP on its own blockchain – Binance Chain, and pegged it to several cryptocurrency pairs on Binance DEX.
Binance Introduces XRP to Binance Chain and Binance DEX

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Source: CoinSpeaker

Binance extends support for TRX staking after removing BTT and WIN trading pairs

Earlier today, Malta-based cryptocurrency exchange Binance revealed that it would be removing around 30 trading pairs. The exchange also removed two of the Tron Foundation’s tokens, BTT and WIN which were paired against BTC. Binance CEO Changpeng Zhao cited that reason behind this move was because of their low number which required users to trade […]
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Source: AMB Crypto

Binance’s CZ reveals reason behind removing 30 trading pairs from the platform

Malta-based cryptocurrency exchange, Binance has been putting Tron’s Justin Sun, who is known for his marketing skills to shame. September has been an eventful month for the exchange after several developments ranging from Lending platform to launching Binance.US. In a recent update, the exchange through its official Twitter account revealed that Binance was removing several […]
The post Binance’s CZ reveals reason behind removing 30 trading pairs from the platform appeared first on AMBCrypto.
Source: AMB Crypto