Bitcoin GBP Chart (BTC/GBP) CoinGecko

Putting $400M of Bitcoin on your company balance sheet

Also posted on my blog as usual. Read it there if you can, there are footnotes and inlined plots.
A couple of months ago, MicroStrategy (MSTR) had a spare $400M of cash which it decided to shift to Bitcoin (BTC).
Today we'll discuss in excrutiating detail why this is not a good idea.
When a company has a pile of spare money it doesn't know what to do with, it'll normally do buybacks or start paying dividends. That gives the money back to the shareholders, and from an economic perspective the money can get better invested in other more promising companies. If you have a huge pile of of cash, you probably should be doing other things than leave it in a bank account to gather dust.
However, this statement from MicroStrategy CEO Michael Saylor exists to make it clear he's buying into BTC for all the wrong reasons:
“This is not a speculation, nor is it a hedge. This was a deliberate corporate strategy to adopt a bitcoin standard.”
Let's unpack it and jump into the economics Bitcoin:

Is Bitcoin money?

No.
Or rather BTC doesn't act as money and there's no serious future path for BTC to become a form of money. Let's go back to basics. There are 3 main economic problems money solves:
1. Medium of Exchange. Before money we had to barter, which led to the double coincidence of wants problem. When everyone accepts the same money you can buy something from someone even if they don't like the stuff you own.
As a medium of exchange, BTC is not good. There are significant transaction fees and transaction waiting times built-in to BTC and these worsen the more popular BTC get.
You can test BTC's usefulness as a medium of exchange for yourself right now: try to order a pizza or to buy a random item with BTC. How many additional hurdles do you have to go through? How many fewer options do you have than if you used a regular currency? How much overhead (time, fees) is there?
2. Unit of Account. A unit of account is what you compare the value of objects against. We denominate BTC in terms of how many USD they're worth, so BTC is a unit of account presently. We can say it's because of lack of adoption, but really it's also because the market value of BTC is so volatile.
If I buy a $1000 table today or in 2017, it's roughly a $1000 table. We can't say that a 0.4BTC table was a 0.4BTC table in 2017. We'll expand on this in the next point:
3. Store of Value. When you create economic value, you don't want to be forced to use up the value you created right away.
For instance, if I fix your washing machine and you pay me in avocados, I'd be annoyed. I'd have to consume my payment before it becomes brown, squishy and disgusting. Avocado fruit is not good money because avocadoes loses value very fast.
On the other hand, well-run currencies like the USD, GBP, CAD, EUR, etc. all lose their value at a low and most importantly fairly predictible rate. Let's look at the chart of the USD against BTC
While the dollar loses value at a predictible rate, BTC is all over the place, which is bad.
One important use money is to write loan contracts. Loans are great. They let people spend now against their future potential earnings, so they can buy houses or start businesses without first saving up for a decade. Loans are good for the economy.
If you want to sign something that says "I owe you this much for that much time" then you need to be able to roughly predict the value of the debt in at the point in time where it's due.
Otherwise you'll have a hard time pricing the risk of the loan effectively. This means that you need to charge higher interests. The risk of making a loan in BTC needs to be priced into the interest of a BTC-denominated loan, which means much higher interest rates. High interests on loans are bad, because buying houses and starting businesses are good things.

BTC has a fixed supply, so these problems are built in

Some people think that going back to a standard where our money was denominated by a stock of gold (the Gold Standard) would solve economic problems. This is nonsense.
Having control over supply of your currency is a good thing, as long as it's well run.
See here
Remember that what is desirable is low variance in the value, not the value itself. When there are wild fluctuations in value, it's hard for money to do its job well.
Since the 1970s, the USD has been a fiat money with no intrinsic value. This means we control the supply of money.
Let's look at a classic poorly drawn econ101 graph
The market price for USD is where supply meets demand. The problem with a currency based on an item whose supply is fixed is that the price will necessarily fluctuate in response to changes in demand.
Imagine, if you will, that a pandemic strikes and that the demand for currency takes a sharp drop. The US imports less, people don't buy anything anymore, etc. If you can't print money, you get deflation, which is worsens everything. On the other hand, if you can make the money printers go brrrr you can stabilize the price
Having your currency be based on a fixed supply isn't just bad because in/deflation is hard to control.
It's also a national security risk...
The story of the guy who crashed gold prices in North Africa
In the 1200s, Mansa Munsa, the emperor of the Mali, was rich and a devout Muslim and wanted everyone to know it. So he embarked on a pilgrimage to make it rain all the way to Mecca.
He in fact made it rain so hard he increased the overall supply of gold and unintentionally crashed gold prices in Cairo by 20%, wreaking an economic havoc in North Africa that lasted a decade.
This story is fun, the larger point that having your inflation be at the mercy of foreign nations is an undesirable attribute in any currency. The US likes to call some countries currency manipulators, but this problem would be serious under a gold standard.

Currencies are based on trust

Since the USD is based on nothing except the US government's word, how can we trust USD not to be mismanaged?
The answer is that you can probably trust the fed until political stooges get put in place. Currently, the US's central bank managing the USD, the Federal Reserve (the Fed for friends & family), has administrative authority. The fed can say "no" to dumb requests from the president.
People who have no idea what the fed does like to chant "audit the fed", but the fed is already one of the best audited US federal entities. The transcripts of all their meetings are out in the open. As is their balance sheet, what they plan to do and why. If the US should audit anything it's the Department of Defense which operates without any accounting at all.
It's easy to see when a central bank will go rogue: it's when political yes-men are elected to the board.
For example, before printing themselves into hyperinflation, the Venezuelan president appointed a sociologist who publicly stated “Inflation does not exist in real life” and instead is a made up capitalist lie. Note what happened mere months after his gaining control over the Venezuelan currency
This is a key policy. One paper I really like, Sargent (1984) "The end of 4 big inflations" states:
The essential measures that ended hyperinflation in each of Germany,Austria, Hungary, and Poland were, first, the creation of an independentcentral bank that was legally committed to refuse the government'sdemand or additional unsecured credit and, second, a simultaneousalteration in the fiscal policy regime.
In english: *hyperinflation stops when the central bank can say "no" to the government."
The US Fed, like other well good central banks, is run by a bunch of nerds. When it prints money, even as aggressively as it has it does so for good reasons. You can see why they started printing on March 15th as the COVID lockdowns started:
The Federal Reserve is prepared to use its full range of tools to support the flow of credit to households and businesses and thereby promote its maximum employment and price stability goals.
In english: We're going to keep printing and lowering rates until jobs are back and inflation is under control. If we print until the sun is blotted out, we'll print in the shade.

BTC is not gold

Gold is a good asset for doomsday-preppers. If society crashes, gold will still have value.
How do we know that?
Gold has held value throughout multiple historic catastrophes over thousands of years. It had value before and after the Bronze Age Collapse, the Fall of the Western Roman Empire and Gengis Khan being Gengis Khan.
Even if you erased humanity and started over, the new humans would still find gold to be economically valuable. When Europeans d̶i̶s̶c̶o̶v̶e̶r̶e̶d̶ c̶o̶n̶q̶u̶e̶r̶e̶d̶ g̶e̶n̶o̶c̶i̶d̶e̶d̶ went to America, they found gold to be an important item over there too. This is about equivalent to finding humans on Alpha-Centauri and learning that they think gold is a good store of value as well.
Some people are puzzled at this: we don't even use gold for much! But it has great properties:
First, gold is hard to fake and impossible to manufacture. This makes it good to ascertain payment.
Second, gold doesnt react to oxygen, so it doesn't rust or tarnish. So it keeps value over time unlike most other materials.
Last, gold is pretty. This might sound frivolous, and you may not like it, but jewelry has actual value to humans.
It's no coincidence if you look at a list of the wealthiest families, a large number of them trade in luxury goods.
To paraphrase Veblen humans have a profound desire to signal social status, for the same reason peacocks have unwieldy tails. Gold is a great way to achieve that.
On the other hand, BTC lacks all these attributes. Its value is largely based on common perception of value. There are a few fundamental drivers of demand:
Apart from these, it's hard to argue that BTC will retain value throughout some sort of economic catastrophe.

BTC is really risky

One last statement from Michael Saylor I take offense to is this:
“We feel pretty confident that Bitcoin is less risky than holding cash, less risky than holding gold,” MicroStrategy CEO said in an interview
"BTC is less risky than holding cash or gold long term" is nonsense. We saw before that BTC is more volatile on face value, and that as long as the Fed isn't run by spider monkeys stacked in a trench coat, the inflation is likely to be within reasonable bounds.
But on top of this, BTC has Abrupt downside risks that normal currencies don't. Let's imagine a few:

Blockchain solutions are fundamentally inefficient

Blockchain was a genius idea. I still marvel at the initial white paper which is a great mix of economics and computer science.
That said, blockchain solutions make large tradeoffs in design because they assume almost no trust between parties. This leads to intentionally wasteful designs on a massive scale.
The main problem is that all transactions have to be validated by expensive computational operations and double checked by multiple parties. This means waste:
Many design problems can be mitigated by various improvements over BTC, but it remains that a simple database always works better than a blockchain if you can trust the parties to the transaction.
submitted by VodkaHaze to badeconomics [link] [comments]

How To Use The Bitcoin Calculator App

How To Use The Bitcoin Calculator App

https://preview.redd.it/d23or4ml5nu51.png?width=800&format=png&auto=webp&s=e27f4858fc4f06d17875023c5a3f87717104bcae
Visit us at https://bitcoincalculator.org
Use this bitcoin calculator to find out exactly how much your bitcoin is worth in any of the supported global currencies, using accurate, up-to-date exchange rates.
Get real-time and historical trends in the BTC value for your selected currency and easily perform any of the following currency conversions:

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Sign up to any of our recommended bitcoin exchanges to start buying and selling BTC today.
Features:
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submitted by seoexpertdipum0 to u/seoexpertdipum0 [link] [comments]

Decentr ($DEC) - foundational cross-chain and cross-platform DeFi protocol

  1. SUMMARY
Decentr is a protocol designed to make blockchain/DLT mainstream by allowing DeFi applications built on various blockchains to “talk to each other”. Decentr is a 100% secure and decentralised Web 3.0 protocol where users can apply PDV (personal data value) to increase APR on $DEC that users loan out as part of of our DeFi dLoan features, as well as it being applied at PoS when paying for stuff online. Decentr is also building a BAT competitor browser and Chrome/Firefox extension that acts as a gateway to 100% decentralised Web 3.0
Allows DeFi Dapps to access all Decentr’s dFintech features, including dLoan, dPay. Key innovation is that the protocols is based on a user’s ability to leverage the value of their data as exchangeable “currency”.
  1. KEY CONCEPTS

  1. REVENUE MODEL
A fee is charged for every transaction using dPay whereby an exchange takes place between money (fiat and digital) and data, and vice versa, either as part of DeFi features or via a dApp built on Decentr. They are launching pilot programmes in the following industries:
  1. Banking/PSP Industry: On Product launch, due to Decentr’s powerful PSP connections (including the worlds #2 PSP by volume), a medium-scale pilot program will be launched, which will seed the network with 150,000 PSP customers in primarily the Spanish/LAC markets, generating revenue from day one.
  2. “Bricks and Mortar” Supermarket/Grocery Industry: Decentr aims to ensure the long-term competitiveness of “bricks and mortar” supermarkets against online-only grocery retailers, such as Amazon, by a) building secure tech that allows supermarkets to digitise every aspect of their supply chains and operational functions, while b) allowing supermarkets to leverage this incredibly valuable data as a liquid asset class. Expected revenue by Year 5: $114Mn per year.
  3. Online Advertising Industry: Decentr’s 100% decentralised platform credits users secure data with payable value, in the form of PDV, for engaging with ads. The Brave browser was launched in 2012 and in 8 years has reached over 12 million monthly active users, accented by as many as 4.3 million daily active users.
  4. TOKEN $DEC AND SALE
Decentr recently complete their token sale on a purchase portal powered by Dolomite where they raised $974,000 in 10 minutes for a total sale hardcap of 1.25M. The $DEC token is actively trading on multiple exchanges including Uniswap and IDEX. Listed for free on IDEX, Hotbit, Hoo, Coinw, Tidex, BKex. Listed on CoinGecko and Coinmarketcap. Listed on Delta and Blockfolio apps.
➡️ Circulating supply: 61m $DEC.
➡️ Release schedule and token distribution LINK -> NO RELEASE UNTIL 2021.
➡️Contract Address - 0x30f271C9E86D2B7d00a6376Cd96A1cFBD5F0b9b3
➡️Decimals - 18, Ticker - DEC
➡️Uniswap link: https://uniswap.info/pai0x3AEEE5bA053eF8406420DbC5801fC95eC57b0E0A
⭐️ HOW TO BUY VIDEO: https://www.youtube.com/watch?v=iloAiv2oCRc&feature=youtu.be
$DEC Token utility:
A tradeable unit of value that is both internal and external to the Decentr platform.A unit of conversion between fiat entering and exiting the Decentr ecosystem.A way to capture the value of user data and combines the activity of every participant of the platform performing payment (dPay), or lending and borrowing (dLend), i.e a way to peg PDV to tangible/actionable value.Method of payment in the Decentr ecosystem.A method to internally underwrite the “Deconomy.
  1. NOTABLE SUPPORTERS
Simon Dedic - chief of Blockfyre: https://twitter.com/scoinaldo/status/1283787644221218817?s=20https://twitter.com/scoinaldo/status/1283719917657894912?s=21
Spectre Group Pick : https://twitter.com/SPECTREGRP/status/1284761576873041920https://twitter.com/llluckyl/status/1283765481716015111?s=21
Patrons of the Moon/Lil Uzi: https://t.me/patronsofthemoon/6764
CryptoGems: https://twitter.com/cryptogems_com/status/1283719318379925506?s=09t
tehMoonwalker pick who is a TOP 5 influencer per Binance:https://twitter.com/tehMoonwalkestatus/1284123961996050432?s=20https://twitter.com/binance/status/1279049822113198080
Holochain was one of their earliest supporters and they share a deep connection (recently an AMA was conducted in their TG group): https://medium.com/@DecentrNet/decentr-holochain-ama-29d662caed03
  1. UPCOMING NEWS
--------------------------------------------
  1. RESOURCES:
Website: https://decentr.net
Telegram: https://t.me/DecentrNet
Medium: https://medium.com/@DecentrNet
Twitter: https://twitter.com/DecentrNet
Whitepaper: https://decentr.net/files/Decentr_Whitepaper_V1.4.pdf
Technical Whitepaper: https://decentr.net/files/Decentr_Technical_Whitepaper_Data_As_Economic_Currency.pdf
Recent Articles:
⚡️- https://medium.com/@DecentrNet/decentr-token-sale-metrics-and-distribution-483bb3c58d05
⚡️- https://medium.com/@DecentrNet/how-decentrs-defi-dloan-function-benefits-dec-holders-97ff64a0c105
⚡️- https://medium.com/@DecentrNet/3-vertical-revenue-streams-decentr-is-targeting-4fa1f3dd62de
⚡️- https://medium.com/@DecentrNet/brave-browser-the-good-the-bad-and-the-fundamentally-misguided-8a8593b0ff5b
⚡️- https://medium.com/@DecentrNet/how-decentrs-dfintech-replaces-swift-sct-inst-clearing-house-and-other-payment-solutions-78acacbb4c3f
Chad Gang STRONG Community: https://t.me/decentrtrading
Community News Channel: https://t.me/chadnews
Recent Uniswap trades: https://t.me/dectrades
Wallet holder tracker: https://t.me/DEC_WALLETS_COUNT
submitted by ldd999 to CryptoMoonShots [link] [comments]

Frozen Bank Account for the past 2 years! Possible AFO.

Hello, I've had close to £40k locked in Santander for the past 2 years across 3 accounts, with no explanation as to why. One was for my business, one was a joint account with my wife and one was my wife's ISA. We've been unable to move money out since mid-August 2018. As you can imagine, it's been pretty stressful, but we've tried our best to find a resolution without taking on a solicitor at the moment.
Some background - I ran a small brokerage for crypto-currencies, dealing with the general public. It started purely as a means to help friends buy Bitcoin safely and slowly grew through word of mouth. Anyway, towards the end of 2018, we had a few complaints from customers that their investment had reduced in value, not really our problem, but they seemed to aim their ire towards us. Some complained that they would take the matter up with their banks, some with police, either way, we assumed it was just hot air, as all were doing was exchanging GBP for BTC, via bank transfer, perfectly legally. About a month after the first complaints, our business account was frozen. We can still log in and see the funds, check all the documents, but we just can't move the funds.
Dozens, if not hundreds of calls to Santander were in vain, as they refused to allow any transaction and they were "unable" to provide any reason as to why. I then realised that my Joint account was also frozen in the same manner. The bulk of the blocked funds, however, was still in my wife's ISA, which I can only assume was blocked as I had previously made a payment to that account directly from the business account. Her personal account with Santander was not frozen.
We contacted the Financial Ombudsman, which was an incredibly painful process, and explained to them what happened, they launched an investigation, which then took them 18 months to conclude, only to say that Santander is acting within their rights to do what they have done. What a massive waste of time. Having spoken with other brokers in the industry that had experienced the same issue, it appeared as if we had an account freezing order placed on our accounts. The only difference being, they were notified of the situation, we have not been.
We're basically in a black hole, without any insight into what's happening, or when/if it will ever get resolved. For the other brokers we know that experienced the same issue, it cost them upwards of £60k to have resolved, solicitors/barristers etc, all mounted up. They had a lot more blocked, but it's still the main reason I've not sought much legal action as it would negate what's currently being blocked by Santander. If it is an Account Freezing Order, then they can run for a maximum of 2 years, which just passed by at the end of August. Yet, we still have received no word from the Bank and/or Police. If it is an AFO, then we would expect there to be a forfeiture request made by the investigators, at which time we would be notified and given 30 days to prepare our case. In truth, I've been hoping we would get some notification, as at least we can demonstrate all of our business was conducted in good faith and above board and get the matter resolved.
I have now spoken with some solicitors in anticipation this could go to court, but they're just as surprised we haven't been notified by anyone as to what's going on.
I'd appreciate any advice you can offer.
submitted by smylomylo to LegalAdviceUK [link] [comments]

Likelihood of bank accepting mortgage deposit?

Hello I will cut to the chase, I have a large amount of money (deposit on a house) in cryptocurrency that I have held for a very long time 2017 or thereabouts , as we know the value of bitcoin has gone up a lot and that’s how I now have a large amount of money, my problem is I want to use this for a deposit on a house (I can cash the bitcoin to gbp via a registered company) , would the bank ask questions about this and maybe refuse my application or am I good?
submitted by sweetprozac to UKPersonalFinance [link] [comments]

Free $10 in Bitcoin by signing up for Gemini Exchange (best for those who already have a means of buying/selling crypto for £GBP)

Founded by the Winklevoss twins (you may know them as the brothers Mark Zuckerberg shafted when he started Facebook; they're also known as the first Bitcoin billionaires), Gemini is arguably the most regulated exchange in crypto.
New signups to Gemini using a referral link will receive US$10 worth of Bitcoin deposited into their accounts after buying or selling $100 or more worth of crypto in one transaction within 30 days of opening their account. (Alternatively: non-ref link, which won't provide the bonus.)
Gemini doesn't allow you to buy directly using sterling, so this one will be most useful if you already have a means of buying crypto, such as coinbase or crypto.com.
It's pretty straightforward:
  1. Open an account at Gemini Exchange using the referral link rpvwgzf6 (or non-ref for no $10 bonus);
  2. Verify your identity and address. This doesn't take long;
  3. Buy or sell $100 worth of cryptocurrency.
    1. Transfer your crypto to your new gemini account and swap it for something else, like perhaps DAI (I suggest DAI as it's a stablecoin, i.e. its value won't be volatile).
    2. Optional: raise a support ticket and request that they turn on the "activetrader" interface for your account, which will allow you to trade it back cheaper. They usually do this extremely quickly. NB Your first trade, i.e. the one that prompts the $10 bonus, must be through the regular interface, not activetrader.
    3. Either trade your new asset back to whatever you originally had (for lower fees if activetrader has been turned on) or send the new one back to your other exchange to sell for GBP. The first 10 withdrawals every month from Gemini incur no fees.
  4. $10 in BTC should be in your wallet within two business days. It appeared for me overnight the following day.
submitted by rowdyroddyredditor to beermoneyuk [link] [comments]

An Open Letter to the Cryptocurrency Community

When seeking assistance, I tend not to think about this community specifically. This letter is not directed at anyone specifically, but generally to anyone using cryptocurrency. At bare minimum, I hope this letter sparks conversation about the future as a community, and where we go from here. Through our highs, and our lows.
Today, I write to you from a low point in my life. Cryptocurrency improved my life, changed the way I think about assets, and how blockchain could improve on transparency of non-profit organizations. But today, I realize what is missing in the cryptocurrency space. Stimulus. Encouragement. Relief. A shoulder to lean on. Peer-to-peer transactions on a proof-of-work blockchain does not inherently provide this anymore. Proof-of-work typically is not profitable on an individual basis with the cost of electricity out weighing the reward. Proof of stake, still only provides so much, requiring capital to invest for a consistent modest return. Distributed Ledger Technology even, still needs some type of investment to create value and scarcity. The rich get richer.
I began to invest in crypto years ago. I don't remember when, but approximately around the 2017 bubble. I missed out when reading about it early into its conception, around when Bitcoin was around $250.00 each. When I found it, I was looking for money. I needed it to make sure my bills were paid, and I could eat. But at the time, I thought to myself, "that does nothing for me" and shrugged it off. I eventually, after a couple of crap jobs, I managed to get hired by USPS. One of the few jobs that I was actually gunning for. With my mother as an assisted living chef, and my father as an automotive mechanic, USPS fulfilled my inherited desire to help others. This helped stabilize my life with a solid income. And investing in crypto got me and my partner into our own house. I write this as a current rural letter carrier.
A couple of years ago, I got to see the inner-working of management among USPS. "Details" as a Supervisor and a position in Operations. I was shocked at how primitive the organization was. Some of the highest levels of management seemed to be merely making decisions of critical importance based on their personal interpretation of company policy, using data from incomplete resources, questionable sources, and with barely any computer skills to manage a business. Such as the lack of basic Microsoft Excel knowledge. Ultimately I did not seek a permanent higher management position, and instead reclaimed my career position as a carrier. I knew that this could be better.
Which brings me to Global Blockchain Post. And this is not where I originally planned on launching this idea. My vision is to save the post office, by replacing it. A decentralized equivalent. Consisting of workers only, managed by said workers by collaboration and voting. This idea is unfinished, as I am learning Solidity and Javascript in order to build it on the Ethereum network. This is now taking time I fear I may not have. In my time researching, I've created a colony, on colony.io and registered the domains globalblockchainpost.com and globalblockchainpost.io for future use. Global Blockchain Post Coin would have initially be pegged at $0.55 (current price of a stamp) in order to provide funding to workers and currency for participants. While development has slowed to a halt, we will be adapting to the times and changing our path to ensure GBP lives on.
Due to current events, Global Blockchain Post is pre-maturely launching its first project GBP Cascadia, a grass roots initiative to support those effected in the Cascadian Bio-region, currently and primarily in the State of Oregon, United States. We hope to provide any kind of support to those that need it, in what would have been our testing ground for limited decentralized parcel transportation services. If nothing more than a shoulder to lean on. Something that we believe the cryptocurrency community needs to show its good side, and drive adoption with those that have never experienced cryptocurrency before.
As it stands now, fire is approaching. While our risk is low, I still fear of losing everything. This in combined with rising economic costs, and COVID-19, our budget has been strained remotely supporting my now out of work family. I'm not the type to ask for assistance, but I have run out of options. I know that there are individuals can relate. I want to keep this idea going, even if I don't live to see it prosper.
I'm providing three options. I'll be on our Telegram group here if you want to discuss any of them: https://t.me/joinchat/CiYgHBr1L-U6AZ010TA8-g
Option 1. Soon, I will be attempting to provide liquidity of GBPC on Uniswap. This will be our primary way of building our community, via Postage (GBPC).
Option 2. Donate to our Colony with ETH or any ERC-20 Token. Donations are currently going to GBP Cascadia, a grass roots local initiative to support those effected in the ongoing wildfires in the State of Oregon. Our colony address: 0x7529A4eFcaFF037325CF4C9F00333D541fa04eed
Option 3. Support me directly. My situation is critical, but certainly not life threatening. But I don't want to lose what could be. I hope to build GBP into a fully Decentralized Autonomous Organization to provide work for thousands, and reassurance of parcel delivery for even more. Anything helps.
BTC: bc1q8gr2y78ezxqm4d8qyksfnk3mg257xzggky34py
ETH: 0xCb62542562b5Bdcfcf9B504165d3840604146aC8

I wish all Oregonians and Cascadians the best during these difficult times. Thank you for reading, and please do not donate if you yourself are struggling. If you can't help financially, share this post on your social media. It would be very much appreciated!
-Rex Global Blockchain Post Founder
Oregon, USA
submitted by RexDomini to u/RexDomini [link] [comments]

Explain this please 😅

Hello everyone,
This might seem like a stupid question, but I and a friend of mine are looking to start investing in crypto.
However I feel uncertain about some projects. I understand that bitcoin is seen as valuable because it can be seen as a store of value like gold or potentially become a decentralised payment system and is not vulnerable to artificial inflation.
But are all other crypto currencies aiming to replace our conventional forms of money ?
For example projects like Chain link, Vechain and Cardano. Are they projects you should invest in because they provide useful blockchain services such as supply chain efficiency and oracle network solutions, or because they will be used as a form of currency?
In other words should I buy some LINK and VET because they may replace USD or GBP. Or should I buy some of their tokens because it’s similar to buying shares in a company, if they reach mainstream adoption the value goes up similar to shares because the company services are being purchased and used more.
Someone please explain, I’m a bit lost haha 😅
submitted by jzillag to CryptoCurrencies [link] [comments]

What is money?

Hey all, this might be a bit outside of the "Bitcoin" realm, but I wanted to create a sounding board to help me grasp what money is, how it relates to economies, and where Bitcoin can come in. I'm just writing out my thoughts, and I'm open to comments and opinions or corrections :). Hopefully this can be helpful to others too.
Note, that I live in the UK and I feel like a lot of information talks about the dollar, and I never know if it applies the same to my currency. I will give examples in dollars, but they should apply to any world currency (eg. GBP) to the best of my understanding.
I saw a link recently on this subreddit to this site: https://modernmoneybasics.com/. If I were to summarise what I learnt, it is a mental model that frames fiat currency in an interesting way, but I wouldn't be surprised if it did contain some misinformation. -- It claims that the model applies to any fiat currency.
OK. Pretend that all of a countries money = 1. If you own $100, you own a fraction of the countries money, so if there is $10,000 in the world you own 0.001 of all dollars. So naturally, if more money is printed, you start to own a smaller fraction of that money.
The Modern Money Theory (MMT) gives me the impression that money is basically a tool owned by the countries government (owned by someone who isn't the general public). Money is not an asset, it is a liability (hence why it loses value over time). People pay taxes and the Government will try to redistribute the wealth by investing in projects like The Army, Green Energy, etc.
This is supposed to be distributed in ways that help the country's economy, ensuring that the country is productive and is exporting things to other countries. When deemed necessary, more money can be printed to help redistribute wealth to the areas that the Government wants to invest in. I think that the more successful your economy, the more your money is worth.
This means one thing to me; PEOPLE DO NOT OWN/HAVE MONEY. Don't save fiat; it is a tool to help the economy, not a thing of value that you should store. I feel like saving actually keeps money from circulating in the economy and probably works towards needing to print money. Instead, buy assets; you put money back into the economy, and you get to hold onto your wealth. What can you invest in? Ok, that's not such an easy question to answer. Maybe buy gold (or *ahem* Bitcoin), or invest in yourself to make something valuable and ultimately start your own business.
MMT says that fiat has value because people pay taxes in fiat. Ultimately, we work, and earn in order to pay taxes (income, VAT, road tax, etc.). We spend in fiat, because the person accepting fiat will need to pay taxes and the next person will do the same, so now the whole country values your fiat currency.
Because of this, you need liquidity, you need to have some money to spend on groceries and living, and you need some money for a rainy day lest you end up in an emergency situation with not enough time to handle it with money. -- I think the more something costs, the more time you typically will have to pay it, so there might even be a formula you could create or use that helps you decide what to keep as cash, and what to spend.
So long story short, money is a token that represents a tiny fraction of your countries economy. It is also something that the government can manipulate and move around as it pleases in the same way a business invests in departments for its company. We are all just a cog in the machine that is our country's economy.
One thing I have not talked about, is the role of banks and credit and interest. I haven't expanded my thoughts in that area yet, but I feel like that they serve a different purpose.
Where does Bitcoin fit in? Well, just like gold, it is a potential asset. It has an interesting property though; it has liquidity. This give it the potential to be used for local trades, meaning that people can save their wealth and use it for local transactions too. It is global, so it also has the ability to be used for global transactions too. For now, it is an asset for saving your wealth; I think that as more people use it and favour it as a storage mechanism, more people will start to accept it for small trades too. Hey, maybe if there's a tool to easily calculate taxes from Bitcoin trades, that could help with adoption.
What would happen to fiat currency if everyone collected fiat for the sake of paying taxes, but used conversion tools to allow them to keep the majority of their wealth in Bitcoin while knowing the appropriate taxes to pay? Honestly, I fall short here, because at that point, you can no longer measure a country's economy by its currency. This is where I need to maybe learn how countries that do not have their own currency measure their economy.
I suppose governments, or ourselves, will have to invent new ways to measure and manage our economies, and I imagine i will be a much more transparent. I think it is an important question to answer as Bitcoin would shift wealth from being country wealth, to individual wealth (for everyone, not just those with enough income and education to invest in assets).
submitted by tookthisusersoucant to Bitcoin [link] [comments]

Crypto.com MCO Visa card: 10% cashback on groceries + 1-5% on other purchases + $50 bonus

I've rewritten my guide completely :)
Crypto.com is now finally shipping their MCO Visa cards in UK & EU! I have received my card this week and immediately got 10% cashback when trying it at Lidl: https://imgur.com/a/ITB39JX
I'm very enthousiastic about Crypto.com myself and all the products they offer. I'll try to explain here as clearly as I can.
I would appreciate it if you'd sign up through my link: https://platinum.crypto.com/sxzbhwuqje or use code sxzbhwuqje in the app. You will also be eligible for the $50 bonus then (see below).

What is Crypto.com?

Crypto.com offers an app with which you can easily buy and sell cryptocurrencies without additional cost. The company exists since 2016 (back then under the name Monaco, hence the MCO abbreviation) and now they have 2 million users.
Next to trading within the app you can also get interest on your cryptocurrencies up to 12% (complete overview here), similar to the likes of Celsius and BlockFi.

The MCO Visa card

Through their app Crypto.com also offers the MCO Visa card. This is a Visa card tied to the MCO cryptocurrency. There are 5 different card tiers and you get:
All cashbacks and bonuses are paid in the MCO cryptocurrency. You can immediately sell the MCO in the app for pounds/euros, which you can use again for purchases with the card if you want.
To get one of the non-free card tiers you need to buy MCO coin and stake them, which means holding on to them for 6 months. After the 6 months you can sell them again at the then current rate. The price of MCO is currently around £4,45 / €5,00, meaning that you have to lock £223 / €250 for six months to get the Ruby Steel card. You'll earn this back in about 7 months (see below),
These are the lower three card tiers:
Card Tier Midnight Blue Ruby Steel Jade Green/Royal Indigo
Stake (hold) None (free card) 50 MCO (~ £223 / €250) 500 MCO (~ £2230 / €2500)
Bonus after staking None $50 (in MCO) $50 (in MCO)
Cashback % 1% 2% 3%
Monthly Spotify Rebate No Yes Yes
Monthly Netflix Rebate No No Yes
LoungeKey Airport Lounge Access No No Yes
Metal card No Yes Yes

Calculation example payback time (7 months)

Below I've made an example calculation for the payback time of the Ruby Steel card, assuming a spend of £1000 / €1000 monthly with the card and that you use Spotify. After 7 months you will have earned back your initial investment :)
But, additionally you also have the 10% cashback on groceries until the end of June plus the worth of your MCO coins that you locked for 6 months. Even if they would be worth only half of what they are worth today, you'd still have a value of £112 / € 225 (see below about price expectation).

Value
$50 bonus immediately after staking £40 / €46
2% cashback on all purchases with the card (assuming montly spend of £1000 / €1000 during 7 months) £140 / €140
Spotify rebate (£10 / €10 per month) £70 / €70
Total £250 / €256

MCO price

The price of the MCO coin has been around £4,50 / €5 for a while. The cards have just been released for UK and EU. Because especially in EU cashback cards are not common, I expect that lots of people would be interested in getting a cashback card like this one. The good thing about that is that the demand for MCO coin would increase (because people need to lock them for 6 months) and I expect that the price of MCO will rise then (there are only 16 million of them, less than Bitcoins).
No guarantees, this is my personal opinion :) I advise you to think about it yourself.

Notes

submitted by blxyy to beermoneyuk [link] [comments]

With Bitcoin Suddenly Surging, Canaan Stock Is Also Going Up Today

With Bitcoin Suddenly Surging, Canaan Stock Is Also Going Up Today



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We need all users to enroll on our platform to access the Bitcoin Trader platform. The sign up method is easy and solely takes a couple of minutes. You'll be able to forever contact our customer service team if you wish helpour Bitcoin Trader account for our trading robot to position trades on your behalf. We tend to need all users to possess a minimum of $250 in their account before accessing our web trader platform. This quantity is enough to require positions price lots of thousands of dollars when using leverage.

https://preview.redd.it/e63kae9rz9j51.png?width=3116&format=png&auto=webp&s=eeb8869dbccb0fca7c64d3c91f83cebcdb446e84
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ognized by the US Trading Association as the foremost profitable crypto robot in 20twenty. Whereas results rely on market conditions, a number of our traders have seen profits of more than four
What is the minimum deposit withBitcoin freedom
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1) Register: Registering with the Bitcoin Trader app is straightforward. Scroll to the high of this page and submit the specified details through the registration kind.

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a pair of) eposit: You wish to deposit a minimum of $250 US to trade with the Bitcoin Trader software. We tend to depend on our partner brokers to facilitate transactions, and all of our partners are absolutely regulated by government authorities. With regulated brokers, you'll rest simple knowing that your funds are safe.
You'll fund your account through wire transfer, MoneyGram, Western Union, FasaPay, Visa, MasterCard, Neteller, WebMoney, and Skrill.


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Bitcoin Trader allows you to earn a daily profit of up to $1,00zero by investing simply $250. That’s a potential return on investment of up to four hundredpercent.
Do celebrities recommend the Bitcoin trader software?

https://preview.redd.it/6i2yjm7sz9j51.jpg?width=1280&format=pjpg&auto=webp&s=b94d3dd01aaff2d7d4230f81176913586c729aef
We tend to are highly widespread and hence a prime target for celebrity gossip. There are viral rumours that we have a tendency to have been endorsed by Elon Musk, Richard Branson, and Jeff Bezos.

Elon Musk – The founder of SpaceX has invested in Bitcoin and expressed interest in artificial intelligence, however he has not invested employing a trading robot.
Richard Brandson – Branson is another celebrity alleged to own invested using Bitcoin Trader. While it's true that he loves Bitcoin and blockchain technology, he hasn’t endorsed any trading robot.
Jezz Bezos – Bezos is also a big fan of emerging technologies, however he hasn’t shown any interest in BTC trading through revolutionary robots like Bitcoin Trader.

You ought to never build an investment decision based mostly on whether or not a star has endorsed or invested in it. Bitcoin Trader has been tested and licensed by specialists.

The verdict about Bitcoin Trader
We tend to are a prime-rated crypto trading robot with nice reviews on sites like TrustPilot and ForexPeaceArmy. Moreover, we have been recognized as legit and profitable by authoritative bodies like the US Trading Association.

We have a tendency to are always striving to offer the most effective to our users by regularly improving our trading platform. Our team of experts analyzes feedback from users to work out what features will create a a lot of seamless trading experience. We tend to operate in complete transparency, having partnered with some of the world’s most reputable brokers.

Our platforms are encrypted to shield you from hackers. Furthermore, we tend to also adhere to information privacy measures, like the General Information Protection Regulation (GDPR). Try out Bitcoin Trader currently through the link at the high right corner of this page.
perior over different cryptocurrencies?
LATESTBITCOINETHEREUMALTCOINSTECHNOLOGYADOPTIONBLOCKCHAINEVENTSCONTACT
PRESS RELEASEWhy is Bitcoin superior over different cryptocurrencies?Akshay KSPublished a pair of weeks agoon August 12, 2020By Akshay KS
Source: Pixabay
During this technical world, bitcoin is the foremost used digital currency all over the world. However the main question then arises within the minds of the many folks is why bitcoin is considered the foremost superior over other cryptocurrenc Bitcoin Freedom
Bitcoin is that the one method of creating transactions daily as alternative currencies. But it's its options and uniqueness that make it superior. Bitcoin and different currencies are based mostly on the cryptographic algorithms or mathematics that are encrypted, with that the user becomes the owner of the currency. Bitcoin currencies are easily accessible at Bitcoin ATM and online exchange
The main feature of the bitcoin, which makes it superior is that it is the safest option for digital transactions. These will be used for on-line searching and transfer of money too.
There are many alternative blessings to using bitcoin. A number of them are mentioned below
Decentralized and digital
Bitcoin offers the freedom of exchanging the price without representatives that proves helpful in controlling the lower fees and high funds. Bitcoin is that the faster method of transaction than others. It is secure as it is free from theft and frauds and is constant. The main advantage is that bitcoin has its homeowners whereas the bank controls the money.
Makes online looking
Normally, bitcoin will be used for on-line shopping too. Bitcoin is the opposite face of e-wallet, that is created by blockchain technology that is used to store money and will easily pay everywhere digitally. For this reason, it also makes your searching easy by which you'll be able to look from your home solely

Bitcoin is accepted globally at each corner of the planet, which makes it less volatile than local currencies or cash. This feature makes it superior because it enables us to form transactions on-line and across the boundaries
Bitcoin unable the means of tracking cash

https://preview.redd.it/4vpws3gtz9j51.jpg?width=1280&format=pjpg&auto=webp&s=179af0fcc33f85322d48b6be65fce2e4442c6cd6
Bitcoin is created by blockchain technology. Blockchain is the sole technology which will either make it or break it. There are many computers which are used to keep up a permanent record of each bitcoin transactions with the help of cryptographic technique. In this approach, it becomes a lot of valuable together with the tracking of the payment. At the same time, there's no method of tracking the cash

While not any transformation method, it will be used over the entire world. It provides the simplest platform for the investment as it is free from the restrictions of governments or banks. It provides an open market and combines the simplest of gold and money.

Bitcoin provides the power to access the balance of the users with a password which is named a personal key. It additionally permits the exchange of values through the web without any middle person. Thus, bitcoin becomes safer, stuffed with privacy, and open to everyone
Unlike cash, it is not possible to form the duplicate quite bitcoin that makes it more efficient. It's protected with the technology of blockchain. Even if anyone tries to form a replica of bitcoin to use it, then the system will automatically reject it as the system recognize it as unknown

Bitcoin Freedom failed to allow two persons to transact on the one price. Once the bitcoin is transferred, its possession is also transferred. So this is the simple approach of maintaining records for any tax functions. It conjointly makes it a easy and healthier metho

Bitcoin is the foremost reliable manner of online transactions. Many questions arise in folks’s minds that are solved on websites like bitcoin revolution. One in all them was the above-mentioned question. Bitcoin provides many facilities, and it comes with more and a lot of blessings which makes it distinctive and special over different cryptocurrencies. It can be preferred as the simplest digital platform for transac


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Disclaimer: AMBCrypto US and UK Market's content is informational in nature and is not meant to be investment advice. Buying, trading or selling crypto-currencies ought to be considered a high-risk investment and every reader is advised to do their due diligence before making any decisions.
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Sign up with Bitcoin Trader nowadays to start out earning potentially thousands of greenbacks in profits daily from an initial investment of just $250. We tend to are a high-rated automated trading robot that's accessible and easy for all to use. By trading with Bitcoin Trader, you'll start generating a lot of investment income than ever beforeBitcoin Freedom

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With the Bitcoin Trader software, you can probably build up to $one,500 daily from a deposit of $250. We tend to are powered by artificial intelligence technology to confirm that you just get a win rate of more than 98p.c under the right market conditions. The US Trading Association has nominated our Bitcoin Trader as the most profitable crypto trading robot on the market.
We have invested in the globe’s best trading technologies. These include the factitious intelligence subsets of natural language processing, deep learning, and machine learning. Bitcin Trader depends on these technologies to derive insights from huge data and market news.
The Bitcoin Trader app has won nearly fifteen coveted awards since launching in 2016. These include the most Profitable Robot 2020 award by the American Trading Association, the simplest Robot in Trading Technologies 2019 award, and the most Profitable Crypto Robot in 2018 Award. We have a tendency to price our customers and are contin
https://www.cryptoerapro.com/bitcoin-freedom/
submitted by cryptoerapro to u/cryptoerapro [link] [comments]

I willing to do this but not sure how long it will takes

Nexo’s Third Dividend of $6,127,981.39 was distributed successfully on the 15th of August. Read more →
Borrow Earn
Card Token Company
Security Help Login Create Account
Instant Crypto Credit Lines Borrow cash or Stablecoins from 5.9% APR, without selling your crypto. Start Borrowing
Credit Amount
(USD) US Dollar USD
Collateral Required
(BTC) Bitcoin
Starting from just 5.9% APR
Automatic approval, no credit checks
$100 million insurance on custodial assets
Credit lines available from $500 to $2 million

ZeroFees and flexible repayments

Supported Collateral Get cash, keep your crypto using a variety of supported collateral options. Vote Which Coin to Add Next
Bitcoin
Credit Line
Ethereum
Credit Line
XRP
Credit Line
Bitcoin Cash
Credit Line
Litecoin
Credit Line
BNB
Credit Line
EOS
Credit Line
Chainlink
Credit Line
Stellar
Credit Line
NEXO Token
Credit Line
Tron
Credit Line
PAXG
Credit Line
Tether
Credit Line
USD Coin
Credit Line
PAX
Credit Line
TrueUSD
Credit Line
DAI
Credit Line $3B+ Processed in 2 years 800К+ Nexo users 40+ Fiat currencies available 16 Cryptocurrencies accepted How to Borrow There’s nothing more efficient than opening an Instant Crypto Credit Line with Nexo. 1 Top up supported assets Click on the "Top up" button. Copy the deposit address and transfer the amount you wish to top up.
2 A credit line becomes instantly available, no credit checks Once you have added digital assets to your account, you will be able to open a credit line. Your available credit line limit will be calculated depending on the value of your assets.
3 Start spending Withdraw cash or stablecoins or start spending using the Nexo Card. You will be charged interest only on the amount you actually withdraw.
Credit Powered by Your Crypto Hold on to your crypto’s upside potential and get instant cash with Nexo’s Instant Crypto Credit Lines.
Create Account
The Safest Way to Borrow The Nexo platform is equipped with a top-quality security infrastructure designed to protect your collateral at all times. Learn More 13 Years in FinTech Over a decade of flawless FinTech success
ISO 27001:2013 Compliant Impeccable risk assessment, data protection, and state-of-the-art cybersecurity
$100 Million Insurance Insurance on custodial assets via Lloyd’s of London
24/7 Customer Support Round the clock assistance
FAQs All your questions about Nexo answered. Visit our Help Center Loan-to-Value (LTV) explained
Are your loans secured?
Are there any prepayment, origination or loan instalments fees?
What happens if the value of the collateral changes before I repay my loan?
Are there margin calls, will I be notified beforehand and how much time I will have to respond?
Can I take out more than one loan at a time?
The Finest Financial Services for Your Digital Assets Nexo is the world’s leading regulated financial institution for digital assets. The company’s mission from day 1 is to maximize the value of digital assets by offering tax-efficient ‘Instant Crypto Credit Lines’, high-yield ‘Earn Interest’ products and ‘Send & Pay’ capabilities for our clients, while ensuring the $100 million custodial insurance and military-grade security of the Nexo Account. Since raising $52.5 million in 2018, Nexo has processed $3+ billion in 40+ fiat currencies for 800,000+ users across 200 jurisdictions.
The world’s biggest crypto lender Nexo announced it officially backed its first mortgage using the cryptocurrency so “Mighty Ducks” actor Brock Pierce could buy a $1.2 million dollar home.
Nexo gives clients a tool that billionaires have had for years.
This is not a startup this is a team that has a successful track record of over 10 years extending over $120 million in credit...The group recently raised over $50 million for Nexo, its crypto lending venture. All money will be loaned out to so-called hodlers, or those who intend to hold digital currency long-term.
Brock Pierce backed the entire loan for the house with bitcoin. This was our first ever crypto-backed mortgage.
Nexo, which is backed by TechCrunch founder Michael Arrington, has introduced several initiatives over the last few months and recently became the first project to accept XRP as collateral. The company which functions as a bridge between the crypto world and the financial world.
Cryptocurrency startup Nexo which is backed by TechCrunch founder Michael Arrington, has launched a cash-based lending platform… [The] structure allows Nexo to provide instant loans without requiring credit checks or the time delay that manual approval processes require.
A good example is nexo.io a company providing instant cryptocurrency backed loans. The NEXO Dividend Token pays out 30 percent of the company’s profit to token holders.
The idea of crypto lending is one of the most revolutionary things that happened because of the wide adoption and popularity of cryptocurrencies (...) Switzerland-based Nexo is considered to be the first platform to provide instant crypto backed loans is adding XRP as the newest collateral option on their platform.
Nexo offered to provide immediate funding of up to $2 million per customer to SALT Lending’s backlog of loan applicants.
Nexo, a cryptocurrencies loan services, said this week that it’s going to offer interest payments on several leading stablecoins. When stored on the platform, trueusd (TUSD), geminidollar (GUSD), paxos standard (PAX), Circle’s usdcoin (USDC), and Maker’s dai (DAI) will generate an 8 percent interest rate for those holding the currency.
Nexo is ambitiously pursuing its goal of providing cryptoasset-backed credit to consumers in the EU and US. Nexo’s primary protocol functionality is an online platform that enables users to create instant cryptocurrency-backed loans by depositing various major cryptoassets into a Nexo account. The system automatically adjusts the credit limit based on the fluctuating value of the deposited cryptoassets.
Ein Darlehen aufnehmen und als Sicherheit die eigene Kryptowährung hinterlegen? Nexo macht es möglich. Es müssen lediglich KryptoAssets in den Nexo hinterlegt werden und sofort können Kunden einen Kredit aufnehmen, ohne sich einer Bonitätsprüfung unterziehen zu müssen.
The annualized dividend yield of NEXO is 4.80% which beats all dividend stocks in Warren Buffet’s portfolio: Apple at 1.4%, JP Morgan at 3%, Wells Fargo at 3.3%, and Goldman Sachs at 1.6%[...] A truly borderless enterprise, Nexo offers clients over 40+ fiat currencies to choose from in over 200 jurisdictions.
Start Borrowing Create a Nexo Account and get instant cash with our tax-efficient Instant Crypto Credit Lines.
Start Borrowing
Sign up for updates
Follow us Products Borrow Earn on Crypto Earn on EUR, GBP and USD Nexo Card Company About Us Blog Media Center Careers Help Help Center Apply to List Contacts Legal Privacy Policy Terms and Conditions Borrow Terms Earn Terms Institution License Affiliate Terms Assets Business Overview Whitepaper Token Terms Mobile App
Copyright © 2020 Nexo. All rights reserved.
submitted by treneddy to u/treneddy [link] [comments]

I willing to do this but not sure how long it will takes

Nexo’s Third Dividend of $6,127,981.39 was distributed successfully on the 15th of August. Read more →
Borrow Earn
Card Token Company
Security Help Login Create Account
Instant Crypto Credit Lines Borrow cash or Stablecoins from 5.9% APR, without selling your crypto. Start Borrowing
Credit Amount
(USD) US Dollar USD
Collateral Required
(BTC) Bitcoin
Starting from just 5.9% APR
Automatic approval, no credit checks
$100 million insurance on custodial assets
Credit lines available from $500 to $2 million

ZeroFees and flexible repayments

Supported Collateral Get cash, keep your crypto using a variety of supported collateral options. Vote Which Coin to Add Next
Bitcoin
Credit Line
Ethereum
Credit Line
XRP
Credit Line
Bitcoin Cash
Credit Line
Litecoin
Credit Line
BNB
Credit Line
EOS
Credit Line
Chainlink
Credit Line
Stellar
Credit Line
NEXO Token
Credit Line
Tron
Credit Line
PAXG
Credit Line
Tether
Credit Line
USD Coin
Credit Line
PAX
Credit Line
TrueUSD
Credit Line
DAI
Credit Line $3B+ Processed in 2 years 800К+ Nexo users 40+ Fiat currencies available 16 Cryptocurrencies accepted How to Borrow There’s nothing more efficient than opening an Instant Crypto Credit Line with Nexo. 1 Top up supported assets Click on the "Top up" button. Copy the deposit address and transfer the amount you wish to top up.
2 A credit line becomes instantly available, no credit checks Once you have added digital assets to your account, you will be able to open a credit line. Your available credit line limit will be calculated depending on the value of your assets.
3 Start spending Withdraw cash or stablecoins or start spending using the Nexo Card. You will be charged interest only on the amount you actually withdraw.
Credit Powered by Your Crypto Hold on to your crypto’s upside potential and get instant cash with Nexo’s Instant Crypto Credit Lines.
Create Account
The Safest Way to Borrow The Nexo platform is equipped with a top-quality security infrastructure designed to protect your collateral at all times. Learn More 13 Years in FinTech Over a decade of flawless FinTech success
ISO 27001:2013 Compliant Impeccable risk assessment, data protection, and state-of-the-art cybersecurity
$100 Million Insurance Insurance on custodial assets via Lloyd’s of London
24/7 Customer Support Round the clock assistance
FAQs All your questions about Nexo answered. Visit our Help Center Loan-to-Value (LTV) explained
Are your loans secured?
Are there any prepayment, origination or loan instalments fees?
What happens if the value of the collateral changes before I repay my loan?
Are there margin calls, will I be notified beforehand and how much time I will have to respond?
Can I take out more than one loan at a time?
The Finest Financial Services for Your Digital Assets Nexo is the world’s leading regulated financial institution for digital assets. The company’s mission from day 1 is to maximize the value of digital assets by offering tax-efficient ‘Instant Crypto Credit Lines’, high-yield ‘Earn Interest’ products and ‘Send & Pay’ capabilities for our clients, while ensuring the $100 million custodial insurance and military-grade security of the Nexo Account. Since raising $52.5 million in 2018, Nexo has processed $3+ billion in 40+ fiat currencies for 800,000+ users across 200 jurisdictions.
The world’s biggest crypto lender Nexo announced it officially backed its first mortgage using the cryptocurrency so “Mighty Ducks” actor Brock Pierce could buy a $1.2 million dollar home.
Nexo gives clients a tool that billionaires have had for years.
This is not a startup this is a team that has a successful track record of over 10 years extending over $120 million in credit...The group recently raised over $50 million for Nexo, its crypto lending venture. All money will be loaned out to so-called hodlers, or those who intend to hold digital currency long-term.
Brock Pierce backed the entire loan for the house with bitcoin. This was our first ever crypto-backed mortgage.
Nexo, which is backed by TechCrunch founder Michael Arrington, has introduced several initiatives over the last few months and recently became the first project to accept XRP as collateral. The company which functions as a bridge between the crypto world and the financial world.
Cryptocurrency startup Nexo which is backed by TechCrunch founder Michael Arrington, has launched a cash-based lending platform… [The] structure allows Nexo to provide instant loans without requiring credit checks or the time delay that manual approval processes require.
A good example is nexo.io a company providing instant cryptocurrency backed loans. The NEXO Dividend Token pays out 30 percent of the company’s profit to token holders.
The idea of crypto lending is one of the most revolutionary things that happened because of the wide adoption and popularity of cryptocurrencies (...) Switzerland-based Nexo is considered to be the first platform to provide instant crypto backed loans is adding XRP as the newest collateral option on their platform.
Nexo offered to provide immediate funding of up to $2 million per customer to SALT Lending’s backlog of loan applicants.
Nexo, a cryptocurrencies loan services, said this week that it’s going to offer interest payments on several leading stablecoins. When stored on the platform, trueusd (TUSD), geminidollar (GUSD), paxos standard (PAX), Circle’s usdcoin (USDC), and Maker’s dai (DAI) will generate an 8 percent interest rate for those holding the currency.
Nexo is ambitiously pursuing its goal of providing cryptoasset-backed credit to consumers in the EU and US. Nexo’s primary protocol functionality is an online platform that enables users to create instant cryptocurrency-backed loans by depositing various major cryptoassets into a Nexo account. The system automatically adjusts the credit limit based on the fluctuating value of the deposited cryptoassets.
Ein Darlehen aufnehmen und als Sicherheit die eigene Kryptowährung hinterlegen? Nexo macht es möglich. Es müssen lediglich KryptoAssets in den Nexo hinterlegt werden und sofort können Kunden einen Kredit aufnehmen, ohne sich einer Bonitätsprüfung unterziehen zu müssen.
The annualized dividend yield of NEXO is 4.80% which beats all dividend stocks in Warren Buffet’s portfolio: Apple at 1.4%, JP Morgan at 3%, Wells Fargo at 3.3%, and Goldman Sachs at 1.6%[...] A truly borderless enterprise, Nexo offers clients over 40+ fiat currencies to choose from in over 200 jurisdictions.
Start Borrowing Create a Nexo Account and get instant cash with our tax-efficient Instant Crypto Credit Lines.
Start Borrowing
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submitted by treneddy to u/treneddy [link] [comments]

Now $20 free with Celsius Network crypto lending app (use TGBP stablecoin for no price fluctuations)

Celsius Network is an app for earning interest on your cryptocurrencies up to 12%. You can also get around 8% interest on stablecoins. They are definitely legit, I and many others here already successfully completed this offer.
If you sign up using a referral link they now offer $20 free in BTC after you deposit the equivalent of $200 in cryptocurrencies on the app (this used to be $10 but they increased it this month :))
Tip: buy the (stable)coins through the Crypto.com app *(creditcard fees waived until the end of September!)
Steps:
You will see the rewards in the app like this: https://m.imgur.com/a/d8MWRaL
Let me know if you have any questions! I have succesfully withdrawn money from the app, PM me if you want more details :)
If you're new to crypto, some extra information:
About stablecoins
Sending cryptocurrencies to and from Celsius
Hope this extra information helps, please let me know if I should add anything :)
submitted by blxyy to beermoneyuk [link] [comments]

[OFFER] $352 offers from them + $148 from me. I give BONUS $2 for EACH additional completed offer!

Welcome!

Basic steps
  1. Comment $bid, and I’ll send you a PM with the referral link.
  2. Sign up with referral link.
  3. Follow specific requirements for the offer.
  4. When bonus unlocks I’ll send the listed pay-out via Revolut/PayPal/N26/Crypto/Tikkie.

Crypto deposits

Offer Requirements to get the bonus Payout Terms
BlockFi $10 in BTC for depositing $100 of crypto and holding the initial deposit 30 days! I will pay you $2 Terms
Coinlist $10 in BTC for making a single trade of $100 worth of cryptocurrency! They also offer a quick quiz for $5 in OXT. I will pay you $2 Terms
Gemini $10 worth of Bitcoin for trading $100. I will pay you $2 Terms
Coinfield 20 SOLO (~$13.5) for verifying your account and depositing $100 USD/100 EU£100 GBP. Check the transfer fees here. I will pay you $5 Terms
Bitpanda (non US) €10 for depositing and trading €25. They also offer crypto lessons and €5 for completing the beginner lessons: Bitpanda. I will pay you €5 Terms
Luno (EU/UK) €15/5£ for buying €250/£100 of BTC. Instant bonus and instant withdrawal. I will pay you €7/5£ Terms
Celsius Network $20 for signing up and deposit $200 + $20 for depositing $200 more with PROMO Code: SUMMER. I will pay you $10 Terms
Crypto.com $50 for staking 1000 CRO (~$166) for 6 months! You’ll receive a Visa card with 2% cashback and other perks: Card. I will pay you $30 Terms

Bank/payment products

Offer Requirements to get the bonus Payout Terms
Curve Make any transaction amount and receive £5. You’ll receive a MC which has an excellent use case: Card I will pay you €2 Terms
N26 Spending €25 with your N26 debit card in one payment e.g. top-up your own Revolut I will pay you €10 Terms
Bitwala (EU/UK) €15 for register & verify and then open a BTC/ETH wallet (no deposit required). I will pay you €10 Terms

Invest

Offer Requirements to get the bonus Payout Terms
Twino (EU/UK) €15 for investing €100 in short-term loans (30 days). You can sell the loans on the second-hand market to deduce risk (I sold them in 24h) I will pay you €9 Terms

Dutch/NL offers

Some offers for my fellow Dutchies
Offer Requirements to get the bonus Payout Terms
Binck Forward (NL) €20 for investing €10 in managed funds. Super low investment! I will pay you €4 Terms
Semmie (NL) €15 for investing €50 in managed funds. Nice sustainable fund. I will pay you €6 Terms
Robeco (NL) €25 for investing €50 in managed funds. I will pay you €10 Terms
Lender & Spender (NL) €25 for investing €1.000 in a low risk P2P platform. 0 defaulted during covid-19 crisis. I will pay you €10 Terms
Tele2 (NL) €20 for joining up with Tele2 12/24 months contract, €10 for monthly contract I will pay you €10/€5 Terms
submitted by Sickeningsound to signupsforpay [link] [comments]

Benefits and Risks of Trading/Bitcoin trader

Benefits and Risks of Trading/Bitcoin trader

Ought to you jump in and begin using your onerous-mined bitcoins within the markets? Find out the risks and advantages initial.KEY TAKEAWAYS
The market is devoted to trading in the globe's currencies.
https://preview.redd.it/u8gle9a0m4f51.jpg?width=770&format=pjpg&auto=webp&s=9368e9fe9613884fb4fd0c86fb716e50319f2d53
Many brokers currently settle for bitcoin and different cryptocurrencies.
Bitcoin trades benefit from the anonymity and decentralized valuation system the currency represents.
They add a replacement layer of risk trading, exacerbated by the acute volatilityStandard Forex Trade
Before you think about whether to trade using bitcoin, it's helpful to understand how a standaroretrade works.

A forex trade is simply an exchange of 1 currency for an additional at its current rate. Unlike tourists who exchange their home currency for local spending cash, forex traders are trying to form cash off the continual fluctuations in the real value of 1 currency against anothe

Imagine you're an American trader betting that the British pound can lose price compared to the U.S. dollar. This is termed trading on the British pound/U.S. dollar currency pair (GBP/USD).The Impact of Decentralization
The key distinction is that, though forex exchanges would possibly be decentralized, the currencies themselves are backed by central banks in the countries that issue them. It's the duty of those banks to stabilize the value of their currencies and keep them stable
Now think about an example of a forex trade using bitcoin. First, you open a forex trading account with a broker who accepts bitcoins. These embody AvaTrade,one? eToro, and LiteForex.a pair of? You then transfer 2 bitcoins from your digital wallet to the forex broker’s digital wallet.

If you wish to trade using bitcoin, use only a locally regulated forex brokerage. And avoid using leverage till you know what you are doing.
Assuming the present bitcoin to U.S. dollar rate is 1 bitcoin = $seven,500, your deposit of two bitcoins is value $fifteen,00zero. Now, assume that you would like to require an edge in British pounds. If the exchange rate is £zero.five = $one, you may receive £7,500. When it rate changes to 0.45, and you square off your position t.sixty five in your trading account. You have got made a tidy eleven.elevenpercent profit and you're prepared to cash out.




Despite the very fact that your bet on British pounds earned you an eleven.11% profit (from $fifteen,00zero to $16,66six.65), the fluctuation in the bitcoin to U.S. dollar rate suggests that that you sustain a loss of zero.039 bitcoin or about -two.percent. (Initial deposit of 2 bitcoins — 1.961 bitcoins = .039 bitcoin).

However, had the bitcoin to U.S. greenback exchange rate changed to 1 bitcoin = $7,000, you'd realize a benefit from both the forex trade and the bitcoin exchange. You'd have received ($16,66half dozen.65/$7,00zero) = two.381 bitcoins, a profit of nineteen.onepercent.

Increased Unpredictability
This hypothetical example illustrates the large reason to exercise caution when using digital currencies for forex trading. Even the most fashionable and widely used cryptocurrency, the bitcoin, is highly volatile compared to most traditional currencies.

Within the year ending July 24, 20twenty, the value of a bitcoin ranged from $five,532 to $eleven,982
This unpredictability means that that the risks associated with trading forex using bitcoin are that abundant larger
Beyond the exchange rate fluctuations impacting profit and loss, there are other edges and risks to consider before trading forex with bitcoin
Decentralized Vauations: A major advantage of trading forex with the bitcoin is that the bitcoin isn't tied to a central bank. Digital currencies are free from central geopolitical influence and from macroeconomic issues like country-specific inflation or interest rates.
High Leverage: Many forex brokers offer leverage for bitcoin trades. Experienced traders can use this to their profit. However, such high margins ought to also be approached with great caution as they amplify the potential for losses.
Low Deposit Amount: A trader can begin with as little as $twenty five with some bitcoin forex trading firms. A few forex trading companies have even offered promotions sort of a matching deposit quantity. Traders ought to check that the broker is legitimate and appropriately regulated.
Low Cost of Trading: Most forex brokers that settle for cryptocurrency are keeping brokerage costs terribly low to attract new shoppers.
Security: You don’t would like to reveal your bank account or mastercard details to make a bitcoin transaction. This could be a massive advantage in terms of price and monetary security.

No World Boundaries: Bitcoin transactions don't have any international boundaries. A trader primarily based in South Africa can trade forex through a broker based mostly within the United Kingdom. Regulatory challenges could stay a concern, however if both traders and brokers are willing to transact, there aren't any geographical boundaries.
Risks of Trading Forex with Bitcoin
Different Exchange Rates: Bitcoin trades on multiple exchanges and exchange rates vary. Traders must guarantee they understand that bitcoin exchange rates the forex broker can be using.

U.S. Dollar Rate Risk: While receiving bitcoin deposits from clients, almost all brokers instantly sell the bitcoins and hold the quantity in U.S. dollars. Even if a trader will not take a forex trade position immediately when the deposit, he or she remains exposed to the bitcoin-to-U.S. dollar rate risk from deposit to withdrawal.
Danger of Volatility: Historically, bitcoin prices have exhibited high volatility. Within the absence of regulations, volatility will be used by unregulated brokers to their advantage and a trader’s disadvantage. For example, assume the intraday bitcoin rate fluctuates from $five,00zero to $5,300 U.S. greenbacks per bitcoin. For an incoming deposit of two bitcoins, the unregulated broker may apply very cheap rates to credit the trader $10,00zero (2 bitcoins * $five,000 = $10,000). However, once the trader is ready to create a withdrawal, the broker might use rock bottom exchange rate. Instead of the original a pair of bitcoins deposited, the trader receives o
Security Risks Inherent to Bitcoin: Deposited bitcoins are vulnerable to theft by hacking, even from a broker’s digital wallet. To reduce this risk, rummage around for a broker who has insurance protection against theft.


Risk of Leverage: Using leverage is risky for new traders who may not perceive the exposure. This risk is not unique to cryptocurrency forex trading and comes into play in traditional forex transactions still.
Asset Category Mixing: Cryptocurrency may be a different asset class altogether and has its own valuation mechanism. Trading forex with bitcoins primarily introduces a replacement intermediate currency which will impact profit and loss in unexpected ways. Any cash that's not locked down in an exceedingly trader’s base currency is a risk.
Although cryptocurrencies like bitcoin are gaining popularity, there are still several associated risks. In forex trading, dealing in a decentralized currency that provides global transactions with no fees is a bonus. But the tradeoff is actually adding a 3rd currency to what was a trading try
Put your trading skills to the take a look at with our FREE Stock Simulator. Compete with thousands of Investopedia traders and trade your means to the top! Submit trades in an exceedingly virtual setting before you start risking your own cash. Practice trading ways thus that when you're prepared to enter the $64000 market, you've got had the practice you would like. Attempt our Stock Simulator today
https://www.cryptoerapro.com/the-bitcoin-trade
submitted by cryptoerapro to u/cryptoerapro [link] [comments]

Explain this please 😅

Hello everyone,
This might seem like a stupid question, but I and a friend of mine are looking to start investing in crypto.
However I feel uncertain about some projects. I understand that bitcoin is seen as valuable because it can be seen as a store of value like gold or potentially become a decentralised payment system and is not vulnerable to artificial inflation.
But are all other crypto currencies aiming to replace our conventional forms of money ?
For example projects like Chain link, Vechain and Cardano. Are they projects you should invest in because they provide useful blockchain services such as supply chain efficiency and oracle network solutions, or because they will be used as a form of currency?
In other words should I buy some LINK and VET because they may replace USD or GBP. Or should I buy some of their tokens because it’s similar to buying shares in a company, if they reach mainstream adoption the value goes up similar to shares because the company services are being purchased and used more.
Someone please explain, I’m a bit lost haha 😅
submitted by jzillag to CryptoStock [link] [comments]

Guide: Crypto.com MCO Visa card: Free Spotify + 1-5% cashback on all purchases + $50 bonus and more

Crypto.com is now finally shipping their MCO Visa cards in UK & EU (in addition to US)! People have been reporting arrival of their cards in UK and all over Europe. I think it's the best rewards card available now :)
I'm very enthousiastic about Crypto.com myself and all the products they offer. I'll try to explain here as clearly as I can.
I would appreciate it if you'd sign up through my link: https://platinum.crypto.com/sxzbhwuqje or use code sxzbhwuqje in the app. You will also be eligible for the $50 bonus then (see below).

What is Crypto.com?

Crypto.com offers an app with which you can easily buy and sell cryptocurrencies without additional cost. The company exists since 2016 (back then under the name Monaco, hence the MCO abbreviation) and now they have 2 million users.
Next to trading within the app you can also get interest on your cryptocurrencies up to 12% (complete overview here), similar to the likes of Celsius and BlockFi.

The MCO Visa card

Through their app Crypto.com also offers the MCO Visa card. This is a debit Visa card tied to the MCO cryptocurrency. There are 5 different card tiers and you get:
All cashbacks and bonuses are paid in the MCO cryptocurrency. You can immediately sell the MCO in the app for euros/dollars, which you can use again for purchases with the card if you want.
To get one of the non-free card tiers you need to buy MCO coin and stake them, which means holding on to them for 6 months. After the 6 months you can sell them again at the then current rate. The price of MCO is currently around €4 / $4.50, meaning that you have to lock €200 / $225 for six months to get the Ruby Steel card. You'll earn this back in about 6 months (see below),
These are the lower three card tiers:
Card Tier Midnight Blue Ruby Steel Jade Green/Royal Indigo
Stake (hold) None (free card) 50 MCO (~ €200 / $225) 500 MCO (~ €2000 / $2250)
Bonus after staking None $50 (in MCO) $50 (in MCO)
Cashback % 1% 2% 3%
Monthly Spotify Rebate No Yes Yes
Monthly Netflix Rebate No No Yes
LoungeKey Airport Lounge Access No No Yes
Metal card No Yes Yes

Calculation example payback time (6 months)

Below I've made an example calculation for the payback time of the Ruby Steel card, assuming a spend of €1000 / $1000 monthly with the card and that you use Spotify. After 6 months you will have earned back your initial investment :)
But, additionally you also the worth of your MCO coins that you locked for 6 months. Even if they would be worth only half of what they are worth today, you'd still have a value of €100 / $113 (see below about price expectation).

Value
$50 bonus immediately after staking €44 / $50
2% cashback on all purchases with the card (assuming montly spend of €1000 / $1000 during 6 months) €120 / $120
Spotify rebate (€10 / $10 per month) €60 / $60
Total €224 / $230

MCO price

The MCO cards have just been released for UK and EU and have been available in US since last year. Because especially in EU cashback cards are not common, I expect that lots of people would be interested in getting a cashback card like this one. The good thing about that is that the demand for MCO coin would increase (because people need to lock them for 6 months) and I expect that the price of MCO will rise then (there are only 16 million of them, less than Bitcoins).
No guarantees, this is my personal opinion :) I advise you to think about it yourself.

Notes

submitted by blxyy to referralcodes [link] [comments]

Guide: Crypto.com MCO Visa Card: 10% cashback on groceries (extended!), 1-5% on everything else, free Spotify and $50 bonus! [US, EU, UK, APAC]

The promotion of 10% back on grocery shopping has been extended until the end of September
Available for: US, EU, UK and APAC
The MCO Visa Card offered by Crypto.com is one of the best rewards cards currently available! It works as a normal debit card: you top up the card with your own currency (USD/EUGBP/SGD), you spend it as you normally would and you get the cashback and rewards paid out in a cryptocurrency (MCO token). If you want you can sell the MCO earned for cash immediately.
I think now is a good time to get in. The MCO Token price is quite low currently so it means it's cheaper to get on board. You'll be able to earn back your investment in less than 6 months (see below).
I would appreciate it if you'd sign up through my link: https://platinum.crypto.com/sxzbhwuqje or use code sxzbhwuqje in the app. You will also be eligible for the $50 bonus then (see below). Non-ref link (no bonus): https://crypto.com

What is Crypto.com?

Crypto.com offers an app with which you can easily buy and sell cryptocurrencies without additional cost. The company exists since 2016 (back then under the name Monaco, hence the MCO abbreviation) and now they have 2 million users.
Next to trading within the app you can also get interest on your cryptocurrencies up to 12% (complete overview here), similar to the likes of Celsius and BlockFi.

The MCO Visa card

Through their app Crypto.com also offers the MCO Visa card. This is a debit Visa card tied to the MCO cryptocurrency. There are 5 different card tiers and you get:
All cashbacks and bonuses are paid in the MCO cryptocurrency. You can immediately sell the MCO in the app for pounds/euros, which you can use again for purchases with the card if you want.
To get one of the non-free card tiers you need to buy MCO coin and stake them, which means holding on to them for 6 months. After the 6 months you can sell them again at the then current rate. The price of MCO is currently around $4.30 / €3.80, meaning that you have to lock $215 / €190 for six months to get the Ruby Steel card. You'll earn this back in less than 6 months (see below),
These are the lower three card tiers:
Card Tier Midnight Blue Ruby Steel Jade Green/Royal Indigo
Stake (hold) None (free card) 50 MCO (~ $215 / €190) 500 MCO (~ $2150 / €1900)
Bonus after staking None $50 (in MCO) $50 (in MCO)
Cashback % 1% 2% 3%
Monthly Spotify Rebate No Yes Yes
Monthly Netflix Rebate No No Yes
LoungeKey Airport Lounge Access No No Yes
Metal card No Yes Yes

Calculation example payback time (less than 6 months)

Below I've made an example calculation for the payback time of the Ruby Steel card, assuming a spend of $1000 / €1000 monthly with the card and that you use Spotify. After less than 6 months you will have earned back your initial investment :)
But, additionally you also the worth of your MCO coins that you locked for 6 months. Even if they would be worth only half of what they are worth today, you'd still have a value of $113 / €95 which you could add to the value mentioned in the table below (see below about price expectation) .
Value
$50 bonus immediately after staking $50 / €44
2% cashback on all purchases with the card (assuming montly spend of $1000 / €1000 during 6 months) $120 / €120
Spotify rebate ($10 / €10 per month) $60 / €60
Total $230 / €224

MCO value over time

The MCO cards have just been released for UK and EU this spring and have been available in US since last year, and Canada's next. Because especially in EU cashback cards are not common, I expect that lots of people would be interested in getting a cashback card like this one. The good thing about that is that the demand for MCO coin would increase (because people need to lock them for 6 months) and I expect that the price of MCO will rise then (there are only 16 million of them, less than Bitcoins). Crypto.com is also launching a white label card programme which could further drive demand.
No guarantees, this is my personal opinion :) I advise you to think about it yourself.

Notes

submitted by blxyy to CryptoCurrencyCards [link] [comments]

MXC Global steps forward in the Turkish cryptocurrency market after partnering with MenaPay

MXC Global steps forward in the Turkish cryptocurrency market after partnering with MenaPay

https://preview.redd.it/s9rpzi2sj6e51.png?width=751&format=png&auto=webp&s=f379dd86d47116ba457e201334338eb92060afaf
1. MXC Global Partners with MenaPay to Expand the Market in Turkey and Islamic Countries
According to ChainNews, Turkey local time on July 30, MXC Global announced a strategic cooperation with the compliance payment platform MenaPay in fiat currency. MXC will expand the Turkish and Islamic markets with the help of MenaPay.
MenaPay is the first SuperApp in the Middle East and North Africa region to fully support blockchain-based non-bank mobile payment solutions under Islamic financial regulations.
This means that MXC Global steps forward in the cryptocurrency market, also has expanded further in the Turkish market.
As early as March this year, MXC Global has successfully pioneered the cryptocurrency market in Turkey. By cooperating with the local Blockchain Platform Blockchain Turkey Platform (BCTR), MXC Global started to build a sustainable blockchain ecological sharing platform.
BCTR was established on the initiative of the Turkish Informatics Foundation (TBV). Its members include AKBank, one of the largest banks in Turkey, Beilbim, a Turkish electronic money and payment services company, as well as MXC Global, a cryptocurrency trading platform.
It reflects the truth that MXC Global values the Turkish cryptocurrency market and cryptocurrencies in the field of electronic payments. Obviously, Turkey’s cryptocurrency market is of great significance to MXC Global’s expansion of the global market.
It can be informed by Turkey’s geographical location and local cryptocurrency trading volume.
Turkey has a population of about 82 million. It spans Europe and Asia. It connects with Georgia , Armenia and Iran in the east, borders the Black Sea in the north, the Mediterranean Sea in the south, and the Aegean Sea in the west. It is an important commercial hub connecting Europe and Asia. Its location plays a role.
Additionally, Turkey is one of the countries with the largest number of cryptocurrencies in the world after the United States, Japan and South Korea. According to a survey by Ing Bank, 18% of people in Turkey say they own cryptocurrency, which is much higher than the European average, 9%.
Coinhills data shows that as of July 17, the trading volume of Turkish fiat currency, Lira to Bitcoin was approximately USD 49.13 million, next to that of the USD, JYP and EUR.
Çağla Gül Şenkardeş, MenaPay CEO once said in an interview: “Traders now have the option to deposit with fiat currencies directly to their accounts on MXC Global by MenaPay QR code, bank transfer or credit card options easily in seconds. We will continue investing the technology to improve the integrated payment solution and expanding their services to other sectors as well.”
2. MXC Global Attracts Cryptocurrency Traders Through a Multi-Dimensional Compliance Operation Strategy
Nowadays, not only cryptocurrency exchanges are actively expanding global cryptocurrency payment channels, but also traditional electronic payment and business platforms are optimistic about the cryptocurrency payment method.
Payment giant PayPal, one of the first companies in the world to support Bitcoin payments, plans to launch a business of selling cryptocurrencies directly to its users and a built-in wallet feature for storing cryptocurrencies earlier this month. The new function is scheduled to be launched within three months at the latest.
Rakuten, a Japanese e-commerce giant who announced that it would release cryptocurrencies in 2018, had acquired Everybody’s Bitcoin, a Japanese cryptocurrency exchange, for USD 2.4 million. It also lays out the full range of cryptocurrency applications in the field of electronic payments.
In December 2019, Rakuten announced that it supports customers to convert Rakuten Group Super Points into top market cap coins, including Bitcoin (BTC), Ethereum (ETH) and Bitcoin Cash (BCH). In February, Rakuten declared that it would further support customers in cryptocurrency trading after a business restructuring.
With the popularity of cryptocurrencies in the world, more and more e-commerce platforms have to adapt to the current market demand, open cryptocurrency payment methods to meet customers’ needs.
MXC Global, a cryptocurrency trading platform, can further expand the cryptocurrency compliance trading market by cooperating with MenaPay, an electronic payment platform, and promote the application of cryptocurrencies in practical scenarios.
Apart from MenaPay, MXC Global has also partnered with Banxa, a payment processing platform in Southeast Asia, and Simplex, a European compliant payment company who supports trading in AUD, USD, GBP, EUR etc. Thus, users can use Visa and Master cards to purchase major coins such as BTC and ETH.
MXC Global has become an emerging cryptocurrency trading platform after two and a half years’ globally regulated operations. The trading volume accounts for 5% of the global market. Its users come from a diverse background, coving language areas of English, Russian, Korean, Portuguese, Turkish, Vietnamese, Hindi, Malay, India, Africa and so on.
Since 2019, MXC Global has successively obtained legal licenses of MTR in Estonian, MSB in the U.S, AUSTRAC in Australian, MSB in Canadian and VQF in Swiss. It is currently one of the global exchanges that have the most multi-country operating licenses. It can provide services under the guidance of local regulatory authorities.
MXC Global not only actively seeks registration of legal licenses globally, but also partners with well-known electronic payment companies. It carries out multi-angle global compliance operations to expand cryptocurrency traders.
submitted by Block_Topia to MXCexchange [link] [comments]

Guide: Crypto.com MCO Visa Card: 10% cashback on groceries (extended!), 1-5% on everything else, free Spotify and $50 bonus! [US, EU, UK, APAC]

The promotion of 10% back on grocery shopping has been extended until the end of September
Available for: US, EU, UK and APAC
The MCO Visa Card offered by Crypto.com is one of the best rewards cards currently available! It works as a normal debit card: you top up the card with your own currency (USD/EUGBP/SGD), you spend it as you normally would and you get the cashback and rewards paid out in a cryptocurrency (MCO token). If you want you can sell the MCO earned for cash immediately.
I think now is a good time to get in. The MCO Token price is quite low currently so it means it's cheaper to get on board. You'll be able to earn back your investment in less than 6 months (see below).
I would appreciate it if you'd sign up through my link: https://platinum.crypto.com/sxzbhwuqje or use code sxzbhwuqje in the app. You will also be eligible for the $50 bonus then (see below). Non-ref link (no bonus): https://crypto.com

What is Crypto.com?

Crypto.com offers an app with which you can easily buy and sell cryptocurrencies without additional cost. The company exists since 2016 (back then under the name Monaco, hence the MCO abbreviation) and now they have 2 million users.
Next to trading within the app you can also get interest on your cryptocurrencies up to 12% (complete overview here), similar to the likes of Celsius and BlockFi.

The MCO Visa card

Through their app Crypto.com also offers the MCO Visa card. This is a debit Visa card tied to the MCO cryptocurrency. There are 5 different card tiers and you get:
All cashbacks and bonuses are paid in the MCO cryptocurrency. You can immediately sell the MCO in the app for pounds/euros, which you can use again for purchases with the card if you want.
To get one of the non-free card tiers you need to buy MCO coin and stake them, which means holding on to them for 6 months. After the 6 months you can sell them again at the then current rate. The price of MCO is currently around $4.10 / €3.60, meaning that you have to lock $205 / €180 for six months to get the Ruby Steel card. You'll earn this back in less than 6 months (see below),
These are the lower three card tiers:
Card Tier Midnight Blue Ruby Steel Jade Green/Royal Indigo
Stake (hold) None (free card) 50 MCO (~ $205 / €180) 500 MCO (~ $2050 / €1800)
Bonus after staking None $50 (in MCO) $50 (in MCO)
Cashback % 1% 2% 3%
Monthly Spotify Rebate No Yes Yes
Monthly Netflix Rebate No No Yes
LoungeKey Airport Lounge Access No No Yes
Metal card No Yes Yes

Calculation example payback time (less than 6 months)

Below I've made an example calculation for the payback time of the Ruby Steel card, assuming a spend of $1000 / €1000 monthly with the card and that you use Spotify. After less than 6 months you will have earned back your initial investment :)
But, additionally you also the worth of your MCO coins that you locked for 6 months. Even if they would be worth only half of what they are worth today, you'd still have a value of $103 / €90 which you could add to the value mentioned in the table below (see below about price expectation) .
Value
$50 bonus immediately after staking $50 / €44
2% cashback on all purchases with the card (assuming montly spend of $1000 / €1000 during 6 months) $120 / €120
Spotify rebate ($10 / €10 per month) $60 / €60
Total $230 / €224

MCO value over time

The MCO cards have just been released for UK and EU this spring and have been available in US since last year, and Canada's next. Because especially in EU cashback cards are not common, I expect that lots of people would be interested in getting a cashback card like this one. The good thing about that is that the demand for MCO coin would increase (because people need to lock them for 6 months) and I expect that the price of MCO will rise then (there are only 16 million of them, less than Bitcoins). Crypto.com is also launching a white label card programme which could further drive demand.
No guarantees, this is my personal opinion :) I advise you to think about it yourself.

Notes

submitted by blxyy to promocodes [link] [comments]

Guide: Crypto.com MCO Visa Card: 10% cashback on groceries (extended!), 1-5% on everything else, free Spotify and $50 bonus! [US, EU, UK, APAC]

The promotion of 10% back on grocery shopping has been extended until the end of September
Available for: US, EU, UK and APAC
The MCO Visa Card offered by Crypto.com is one of the best rewards cards currently available! It works as a normal debit card: you top up the card with your own currency (USD/EUGBP/SGD), you spend it as you normally would and you get the cashback and rewards paid out in a cryptocurrency (MCO token). If you want you can sell the MCO earned for cash immediately.
I think now is a good time to get in. The MCO Token price is quite low currently so it means it's cheaper to get on board. You'll be able to earn back your investment in less than 6 months (see below).
I would appreciate it if you'd sign up through my link: https://platinum.crypto.com/sxzbhwuqje or use code sxzbhwuqje in the app. You will also be eligible for the $50 bonus then (see below). Non-ref link (no bonus): https://crypto.com

What is Crypto.com?

Crypto.com offers an app with which you can easily buy and sell cryptocurrencies without additional cost. The company exists since 2016 (back then under the name Monaco, hence the MCO abbreviation) and now they have 2 million users.
Next to trading within the app you can also get interest on your cryptocurrencies up to 12% (complete overview here), similar to the likes of Celsius and BlockFi.

The MCO Visa card

Through their app Crypto.com also offers the MCO Visa card. This is a debit Visa card tied to the MCO cryptocurrency. There are 5 different card tiers and you get:
All cashbacks and bonuses are paid in the MCO cryptocurrency. You can immediately sell the MCO in the app for pounds/euros, which you can use again for purchases with the card if you want.
To get one of the non-free card tiers you need to buy MCO coin and stake them, which means holding on to them for 6 months. After the 6 months you can sell them again at the then current rate. The price of MCO is currently around $4.10 / €3.60, meaning that you have to lock $205 / €180 for six months to get the Ruby Steel card. You'll earn this back in less than 6 months (see below),
These are the lower three card tiers:
Card Tier Midnight Blue Ruby Steel Jade Green/Royal Indigo
Stake (hold) None (free card) 50 MCO (~ $205 / €180) 500 MCO (~ $2050 / €1800)
Bonus after staking None $50 (in MCO) $50 (in MCO)
Cashback % 1% 2% 3%
Monthly Spotify Rebate No Yes Yes
Monthly Netflix Rebate No No Yes
LoungeKey Airport Lounge Access No No Yes
Metal card No Yes Yes

Calculation example payback time (less than 6 months)

Below I've made an example calculation for the payback time of the Ruby Steel card, assuming a spend of $1000 / €1000 monthly with the card and that you use Spotify. After less than 6 months you will have earned back your initial investment :)
But, additionally you also the worth of your MCO coins that you locked for 6 months. Even if they would be worth only half of what they are worth today, you'd still have a value of $103 / €90 which you could add to the value mentioned in the table below (see below about price expectation) .
Value
$50 bonus immediately after staking $50 / €44
2% cashback on all purchases with the card (assuming montly spend of $1000 / €1000 during 6 months) $120 / €120
Spotify rebate ($10 / €10 per month) $60 / €60
Total $230 / €224

MCO value over time

The MCO cards have just been released for UK and EU this spring and have been available in US since last year, and Canada's next. Because especially in EU cashback cards are not common, I expect that lots of people would be interested in getting a cashback card like this one. The good thing about that is that the demand for MCO coin would increase (because people need to lock them for 6 months) and I expect that the price of MCO will rise then (there are only 16 million of them, less than Bitcoins). Crypto.com is also launching a white label card programme which could further drive demand.
No guarantees, this is my personal opinion :) I advise you to think about it yourself.

Notes

submitted by blxyy to CryptoAirdrop [link] [comments]

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