Exchanges Reviews - Page 5

Crypto.com becomes official sponsor of 2022 FIFA World Cup in Qatar. Though trading cryptocurrencies has been largely illegal in Qatar since 2018 , Crypto.com is likely to reach a more international crowd given the popularity of soccer on the world stage. FIFA, an international governing body for many major soccer tournaments, has announced that cryptocurrency exchange Crypto.com will be an official sponsor of its next World Cup in Qatar. In a Wednesday announcement, the association said Crypto.com’s branding will appear both inside and outside of stadiums for the FIFA World Cup Qatar 2022 scheduled to begin in November. The crypto exchange will provide opportunities for its users to attend matches and win official merchandise as part of the sponsorship. According to FIFA chief commercial officer Kay Madati, the deal will help grow the games “on a global scale,” citing Crypto.com’s partnerships with other entities around the world. In November, the exchange inked a deal to rename the Los Angeles-based sports and entertainment venue Staples Center to the Crypto.com Arena for 20 years. Crypto.com has also partnered with the Australia Football League in a $25 million deal, signed a $100-million sponsorship agreement with Formula 1 and inked a 10-year $175 million sponsorship agreement with the Ultimate Fighting Championship.

The Avalanche ecosystem stands to gain from three tremendous developments announced this week with Coinbase Cloud’s integration, BTC support and UST trading. Web3 developer hub Coinbase Cloud has added a suite of tools to support development on the Avalanche blockchain and smart contract platform. As part of the new support features, Coinbase Cloud is running an Avalanche (AVAX) public validator node. This allows Avalanche network participants to stake their AVAX tokens with Coinbase Cloud and delegate power for validating transactions on the blockchain. There is also an AVAX integration with Coinbase Wallet, the crypto exchange’s proprietary Web3-enabled digital asset wallet. It will also provide developers with the documentation needed to deploy applications on the Avalanche network. Coinbase Wallet added support for Solana (SOL) last week.

Huobi Live will open up a new channel for influencers and content creators to engage both existing and new followers. Influencers and content creators will be able to set up their own channels, grow their audiences and even reward viewers with incentives. Within the Huobi ecosystem, content creators will be able to reach tens of millions of users and followers on multiple channels. Huobi Live will work closely with content creators to grow their audiences and produce quality content. Huobi Live also plans to incentivize creators by rewarding them with up to 60% of trading fees incurred by new users they refer to the Huobi Global platform.

Huobi Global, one of the world’s leading digital asset exchanges, has announced the launch of Huobi Live, an integrated livestreaming platform on the Huobi Global app. To kick off the launch, Huobi Live will hold its inaugural streaming session on Monday, March 28, 2022, at noon UTC. Huobi Live is designed to increase engagement both within and beyond the Huobi Global community by delivering thoughtful, curated commentary on market and investment trends. Livestreamed content on Huobi Live will consist of a mix of official shows hosted by Huobi experts and informal sessions hosted by an ecosystem of influencers. Select livestreaming sessions will be simultaneously streamed on the official Huobi Global YouTube and TikTok channels.

Huobi Global, one of the world’s leading digital asset exchanges, today announced the launch of CandyDrop, a new program that rewards users with a chance to win free token airdrops. Huobi Global is rolling out the program to incentivize active traders and broaden their exposure to a wider range of assets. To be eligible for CandyDrop events, users will need to have at least 100 USDT in average daily spot trading volume for the three days preceding event registration. Once registered, users will be entered into a lucky draw for a chance to win an equal share of the total token airdrop prize pool. “As we continue growing the Huobi ecosystem with new listings and partners, we’re always looking for ways to better engage and reward our users,” said Du Jun, Co-Founder of Huobi. “CandyDrop will create new profit opportunities for users while driving brand loyalty, benefiting both users and projects. We’re committed to building a vast digital asset ecosystem that’s inclusive and accessible to users all over the world.” Huobi’s previous events have proven popular among a vast number of investors, providing them with access to exciting new projects. The new CandyDrop program will enable users to win airdrops to newly listed tokens without requiring them to hold such tokens in advance. The tokens allocated to prize pools will vary by campaign. Some of the lucky users will be able to obtain more than one type of token during an event. CandyDrop events will be held up to five times a week, giving users plenty of opportunities to participate in the free token airdrops.

Singapore-based cryptocurrency platform Crypto.com has finally acted out on its US expansion plans with the initial launch of its exchange subsidiary in the country. According to the prepared statement, the VIP users will be provided with exclusive events, rewards, and Crypto.com’s “cutting-edge” market insights. Planning out the launch in several phases, the initial rollout will allow waitlisted users to access the platform. In addition, the platform is currently only available for US-based institutional investors with plans to roll out the program for everyone. “We are excited to be expanding our offering for professional traders to the U.S.,” said Kris Marszalek, CEO of Crypto.com in a press release issued today. “Crypto.com Exchange will support U.S. institutional investors through this initial launch phase. We are looking forward to rolling it out to everyone as soon as possible.” Since its founding in 2016, Crypto.com has become one of the largest exchanges by spot trading volume. The exchange, with the likes of FTX, Coinbase, and eToro, also bought ad space for the US Super Bowl Championship event. In November, it also acquired the naming rights of the NBA home stadium Staples Center in a $700 million deal.

FTX, one of the world’s largest cryptocurrency exchanges, has become one of the first exchanges to receive an operating license from Dubai’s newly formed crypto regulator VARA. The news comes as rival exchange Binance also obtained a regulatory license from Middle-Eastern country Bahrain. As per a recent report by Bloomberg, the crypto firm is also in talks with Dubai regulators to receive a license. After receiving regulatory approval, FTX also plans to establish regional headquarters in the city, the company said in the press release. Claiming to be the first crypto exchange to receive the license, founder and chief executive of FTX Sam Bankman-Fried commented: “It’s an honor to be one of the first approved applicants in such a specialised category and we are excited to be able to introduce complex crypto-derivatives products with centralised counterparty clearing to institutional markets. FTX receiving this approval is a continuation of our mission to be at the forefront of licensing and regulation around the world.” Dubai recently established a cryptocurrency regulator to issue licenses and oversee the compliance system of crypto service providers operating in the United Arab Emirates (UAE). With this, the renowned city seeks to participate in the design of this new and rapidly growing global sector.

Thailand reportedly exempts 7% crypto tax for traders on authorized exchanges. The revised tax policy exempts crypto traders from the mandatory 7% VAT on authorized exchanges while offering tax exemptions of up to 10 years for crypto startup investors. The finance ministry of Thailand has reportedly eased up crypto tax regulations to promote investment in the digital asset market. The changes to the tax regulations come just a few weeks after the government scrapped its early plans of introducing a 15% tax on crypto gains. The new tax policy exempts crypto traders from the 7% value-added tax (VAT) on authorized exchanges, reported Reuters. The revised tax policy would also allow traders to offset their annual losses against gains for their crypto investment. This comes as big relief for traders, given most of the governments at this point are only looking to tax gains without taking into account the losses incurred by traders due to the crypto market volatility. The new tax exemptions would come into effect from April 2022 and last until December 2023. The new tax policy promises to offer tax exemptions of up to 10 years for investors who invest for at least two years in crypto startups in the country.

Total exchange BTC inflows have been net negative since July 2021. There have been more outflows than inflows to most exchanges except Binance, FTX, Bittrex and Bitfinex since last July, suggesting sellers may be exhausted according to Glassnode. Bitcoin inflows across all exchanges have been net negative since last July, but four major exchanges have been running contrary to this trend with nearly an equal amount of net positive inflows. There have been total net outflows of 46,000 BTC (worth around $1.8 billion at current prices) from all crypto exchanges since last July. Only Binance, Bittrex, Bitfinex and FTX have seen net positive inflows of 207,000 Bitcoin (BTC), according to data from blockchain analytics firm Glassnode’s Monday newsletter. Over the same time period, net outflows have totaled 253,000 BTC from all other exchanges tracked.

FTX and Huobi have experienced the most dramatic shift in their BTC holdings since last July. Whereas FTX has more than tripled the amount of BTC it holds to 103,200 today, Huobi’s holdings have dwindled to just 12,300 BTC, or around 6% of what it held, from over 400,000 BTC in March 2020. Net outflows have been consistent since last year, with a few major spikes occurring in August and, most recently, on Jan. 11. However, Glassnode attributes the current relatively low inflows to “the scale of market uncertainty at present,” and suggests that the crypto trading market, in general, has shifted to derivatives trading over spot sells in order to hedge risk. Exchange inflows are measured to help give a better understanding of whether investors are preparing to liquidate or hodl their coins. Net inflows show incoming selling pressure whereas net outflows suggests more hodling. The coins that remain on-chain maintain a realized price of $24,100 per BTC, suggesting that most hodlers enjoy a profit margin of 63%. Realized price is the average price of all coins when they were moved on-chain. The realized price contrasts with an implied price of $39,200. The implied price is an estimated fair value price per coin and is currently just below break-even as BTC was trading at $38,346 at the time of writing, according to CoinGecko. Right now, short-term holders are underwater by about 15% as the average price of coins that have moved on-chain in the last 155 days is $46,400 according to Glassnode.

If you live in a country where crypto regulation is on the softer side, then you should definitely consider trading on BitForex. The reason is that, unlike many other exchanges, BitForex accepts deposits in fiat via banking card, so it relieves newly registered traders from the hassle of buying crypto with fiat and then depositing this crypto to the exchange. As I have already said, the lax regulation, which means that the bank won't start nagging every time you make a deposit, allows traders to use BitForex to the fullest extent.

I like everything about CoinBene, perhaps except for the absence of a referral program. I am a famous crypto blogger with quite a sizable army of followers. So, referrals are one of my small sources of income. I made good money through the Binance referral, so I was hoping to get some more dough on CoinBene, but that was not meant to be. Nevertheless, this exchange has a reasonable fee scheme, excellent interface, and easy registration. Besides, there are no verification requirements for withdrawals of up to 2 BTC. CoinBene wouldn’t be my primary trading platform, but I will use it from time to time.

Bitbank is a cryptocurrency exchange service offering their clients highly accurate and reliable market insights for the trading of Bitcoin and Litecoin. Bitbank achieves these market insights through the analyzation of market news and research, as well as from their sophisticated prediction algorithms and advanced artificial intelligence software. Also, Bitbank is so much more than an exchange and market insights platform. Bitbank features a ‘wallet service’ for storing Bitcoin and Litecoin, a ‘Bitbank Register’ service for local payments at various merchants, and a ‘Bitbank Pay’ service for online businesses.

Crypto exchange Gate.io enters 2022 with several major milestones already under its belt. Trading cryptocurrencies is not an easy undertaking with many technical indicators, market changes, external factors and a constantly changing ecosystem in a way. So it’s no wonder many investors have trouble navigating this space. However, while strategy plays a significant role in the outcome of a trade, it is only one of the factors that lead to long-lived success. In selecting the cryptocurrency exchange, users will look at such factors as liquidity, functionality for derivatives trading and decentralized finance (DeFi) protocols, security, reputation and the prevalence of automated features. With so many considerations on the table, it becomes crucial for any trader to evaluate their platform of choice before getting started carefully. Otherwise, they may find themselves in a position where assets need to be moved suddenly or multiple platforms need to be managed. Gate.io has since emerged as a one-stop-shop trading service that leverages institutional-grade security and reliability. The exchange has become known for its diversity in altcoin offerings and DeFi products. Marie Tatibouet, the CMO at Gate.io, reflects on the previous year by stating. 2021 has been monumental for Gate.io. With our user base growing faster than ever before, the team stepped up its game big time with many new products. The team is now extremely motivated to make 2022 a memorable year as well.

I began my trading path on Binance, being attracted by its marketing campaign. Everything was fine, but I am the type of person who's always looking for something new, a better deal. One day, I have stumbled upon CoinBene and found out that their fees are even lower than the ones charged by Binance. 0.05% trading fee on CoinBene, if paid in platform's native token CONI, definitely trumps Binance's 0.75%, paid with BNB. One doesn't have to be a rocket scientist to figure out what I did next.

I must say that from the technological standpoint, Bibox is probably one of the most advanced crypto exchanges since it is one of the few that had successfully incorporated AI into its operations. Furthermore, the platform also allows for seamless API integration with third-party trading services. The fee structure is clear and simple: a flat 0.1% makers/takers fee plus an opportunity to get a 50% discount when choosing to pay fees with the platform's native token BIX. All in all, I have been trading on Bibox for almost a year and haven't encountered any problems so far.

Crypto exchange FTX.US to give away Bitcoin as part of Super Bowl ad. The amount of Bitcoin FTX.US gives is yet to be determined, and will be based on the East Coast time its Super Bowl ad runs. Cryptocurrency exchange FTX.US will be giving away free Bitcoin as part of its upcoming advertising campaign at the Feb. 13 Super Bowl LVI. However, the amount of Bitcoin given away has yet to be determined because it will depend on what time the ad runs on the East Coast. For example, if the ad runs at 8:50 PM, the Bahamian-based exchange will give away 8.50 BTC ($374,000 at current prices). But if the ad is aired later in the game — at 11 PM for example — the giveaway will increase to 11 BTC (around $484,000 at the moment). The airtime slot for the ad is scheduled in the game’s second half, which is slated to start at 8 PM ET (1:00 AM UTC, Feb 14), an hour and a half after initially kicking off.

Crypto.com, a global crypto trading service provider with its headquarters in Singapore, is primarily known for its $500-million venture arm fund to support early-stage crypto startups. However, the exchange has a strong footing in the Asian market despite its primary sponsorship partnerships in the United States. The platform launched its flagship crypto Visa card that allows people to spend their crypto at Visa merchants in Asia first, followed by the rest of the global market, which indicates the popularity of the crypto ecosystem in Asia.

Major crypto exchanges originating from Asia as well as from the West have shown an increasing interest in the Asia-Pacific region. Coinbase launched in Japan last year, joining the selected group of exchanges to offer crypto trading services to native customers. Binance, the world’s leading crypto exchange by trading volume, has forged a series of new partnerships in Singapore, Indonesia and Thailand. The growing interest in global crypto exchanges in Asia could be attributed to the crypto craze in the region, despite regulatory uncertainty in several countries. The Asia-Pacific region is currently the hub for the majority of crypto growth. Countries such as Singapore and Thailand have seen a great boom in crypto adoption both as a retail payment as well as a form of investment.

The leading global exchange by trading volume had a roller coaster of a ride in terms of regulations in 2021. After seeing a series of compliance warnings from nearly a dozen countries, Binance mended its way toward the end of the year. The exchange forged several new partnerships, but its growth in the Asia region was something that got everyone’s attention. Binance acquired an 18% stake in Singapore’s securities exchange Hg Exchange. However, the exchange withdrew its crypto license, which many claimed was due to non-compliance with the Anti-Money Laundering guidelines. Binance CEO Changpeng Zhao called the reports as fear, uncertainty and doubt, or FUD, and maintained that Singapore remains one of the top priorities for the exchange. The exchange is now looking to reestablish its presence in Thailand after an early warning in 2021. The crypto exchange partnered with Gulf Energy Development PCL, a Thai holding company run by billionaire Sarath Ratanavadi. Binance is looking to open a crypto exchange in a joint venture with a consortium led by MDI Ventures, an investment arm of Telkom Indonesia. Apart from its dominant presence in South East Asia, Binance is also penetrating West Asia and the Middle East with a recent MOU with the Dubai World Trade Center Authority.