Coinbase Adds Info on Top 50 Cryptos

27 August, 2018

In today’s edition of Bitcoin in Brief we cover stories about Binance exchange launching an incubator program meant to help the development of crypto startups and Coinbase adding educational information on the top fifty cryptocurrencies for its users.

Binance has introduced a new incubation program to support early-stage startups with the exchange’s resources to help jump start their ideas. The Binance Labs Incubation Program is a ten-week on-site program designed to help teams deliver a product or service with a market fit. It provides each venture with $500k in seed funding in exchange for 10% of their equity. It also offers access to mentors from the scene and a network of founders. In addition, the program also provides support services so that the teams can focus just on building their products and services.

The first batch will be held in San Francisco and while the next locations have not been announced yet, the company is said to be particularly looking for places in Africa and Asia. “We’re looking at different cities across the world because blockchain and crypto are international. We see problems and opportunities in different regions with different ways to leverage the blockchain,” Binance Labs CEO Ella Zhang told Techcrunch.

Coinbase has announced it started experimenting with new ways for customers to explore and view the top 50 cryptocurrencies by market cap . Some customers can now view historic trading data, current market cap, a description of the asset, and links to relevant white papers and project websites. The company wants to test various formats and types of information to display. It emphasizes that these new asset pages, most of which covering coins not available to trade on the exchange, do not mean that Coinbase intends to support any specific asset in the future.

The Coinbase team explain that: “It’s no secret that many consumers feel overwhelmed when trying to research and learn about cryptocurrencies. We’ve heard from our customers that they are always looking for trusted sources of information and, as one of the world’s leading exchanges, we’re committed to offering educational resources that help them navigate the world of cryptocurrency.”

With glaring examples of fiat hyperinflation in their region, it is no surprise that many people in Latin America think cryptocurrency can replace the current financial system within the next decade. A survey conducted by peer-to-peer credit network RCN polled 890 Argentina-based users of Ripio, the Latin America based wallet with over 200,000 users. Nearly a quarter of the surveyed respondents believe blockchain will take over the financial system in five years (by 2023), while nearly 40% said it will take over in the next five to ten years (by 2028).

“Almost 85 percent of survey respondents said blockchain and cryptocurrencies will become the norm for finance within the next 15 years — destroying bank monopolies and their lack of transparency in the process,” Sebastian Serrano, CEO of RCN said. “Indeed, blockchain has enormous potential for streamlining processes currently burdened by red tape and legislation. Smart contracts also make global money lending a possibility, which would dramatically change the game.” Survey respondents also said blockchain will “change the way we use money,” “change the rules,” and “change the world.”

Roboforex, the FX and CFD brokerage, has launched a new service which will allow its clients to deposit funds to their BTC accounts by means of other cryptocurrencies. The sum of deposited coins will be automatically converted into BTC according to the exchange rate at the moment of depositing. Right now, this new service supports more than 40 different options, including BCH, ETH, LTC, NEO, and others.

Denis Golomedov, Chief Marketing Officer, commented: “Considerable part of our clients trade and keep funds on their accounts in cryptocurrencies. Many of them have assets in digital currencies other than BTC, which they now may use for depositing their BTC accounts. Our new solution will offer the company’s clients a convenient way to convert their assets into BTC and transfer funds between Wallets and accounts inside the system.”

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