Altcoin News

Experienced Crypto Traders Prefer To Trade On Laptops: Research

Published

7 days ago

January 11, 2020

Nowadays, there are a lot of cryptocurrency exchanges used by holders to store their digital assets or trade cryptocurrencies. With hundreds of exchanges available on the market, one study revealed that experienced crypto traders prefer using laptops rather than smartphones when trading on crypto prices.

The latest cryptocurrencies news show that there are hundreds of exchanges available today and it can be difficult for cryptocurrency holders to choose which one best suits their needs. In fact, most traders use more than one exchange – mainly to hedge risk and minimize benefits.

In a survey by the BDCenter, it was found that experienced crypto traders prefer to trade on laptops – and a lot of other insights. Teaming up with the sociology department of the Belarus State University, BDCenter analyzed more than 800 traders from 75 countries and asked them 30 questions. Researchers were especially looking for answers to the following four groups of questions, including:

What makes a crypto exchange attractive: Is its low fees, a large number of available pairs, fast withdrawals or something else?
Do Forex traders often switch to crypto trading?
What do users expect from a trading platform?
Does trading behaviour vary from one demographic or regional group to the other?

One of the key takeaways from this survey is the fact that experienced crypto traders look for simplicity which most crypto exchanges fail to deliver. The Bitcoin news now show that 80% of participants in the survey admitted to having entered the market less than three years ago and sought tools for beginners. In contrast, 71% of the participants make demo accounts with tutorials, while 37% of the exchanges have an intuitive and easy to use interface. The rest are overloaded with features and diagrams, the report states.

A key insight from experienced crypto traders in this survey is that for an exchange to be successful and good, it must be fast and avoid charging customers for anything but the trading itself. The deposit and withdrawal speed was a crucial factor (for 54% of the participants), followed by the size of the commissions (33% of them think this is important). The majority (65%) found that transaction fees are fine – but only 36% of the participants think that a fee on withdrawing crypto is acceptable.

DC Forecasts is a leader in many crypto news categories, striving for the highest journalistic standards and abiding by a strict set of editorial policies. If you are interested to offer your expertise or contribute to our news website, feel free to contact us at editor@dcforecasts.com

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Stefan

Stefan is a full-time member and has been a Bitcoin Specialist for over 6 years. Providing daily news and updates for DC Forecasts.

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Altcoin News

Google Search Volume For Crypto Is Trending Down Despite Surge

Published

16 hours ago

January 17, 2020

Stefan

The crypto hype bubble that rocketed Bitcoin and Ethereum into the public eye and made them household names when they reached all-time highs was also accompanied by a surge in search interest of people who were scrambling to find out what the fuss was all about. However, the recent crypto surge on the markets did not come with a change in Google search volume - in fact, the volume has been decreasing.The latest rally has put a lot of cryptocurrencies up by 250% from what they were worth in less than a month. Even Bitcoin surged and the Bitcoin price news now show that BTC is close to $9,000. However, despite the rally and the fact that this downtrend may be over, the rise in prices is not being followed by a rise in Google search volume.Trading volumes also have not seen any uptick which caused a lot of top crypto analysts to wonder what are the actual benefits of this rally. If you have been following our latest cryptocurrencies news for the last few years, you probably know the FOMO effect which swept the mainstream public when Bitcoin rose to $20,000.The more people heard about BTC, the more they bought it which lead to surges everywhere. The Google Search volume for the Bitcoin price also spiked, reaching all-time highs in late 2017.Now, this is not the case. The prices are going up but the search volume is going down. This was also shared on Twitter by an analyst named Haejin who illustrated the unchanged behaviour:https://twitter.com/Haejin_Crypto/status/1217288329382842369So, as the prices are skyrocketing once again, the crypto community is not that convinced that we are beginning to see the start of a larger trend reversal. The Google Search volume has not only started to trend upward - it is actually trending down now and suggesting that even fewer people are interested in Bitcoin (BTC) now.The same attention who called attention to the Google Search volume is also very leery about the entire leary. Haejin claims that lesser rallies over the last few months experienced more volume - suggesting that this is not the crypto reversal we have all been waiting for.https://twitter.com/Haejin_Crypto/status/1217937419158376457

Altcoin News

Australian Reserve Bank Considers Using Central Bank Digital Currency

Published

2 days ago

January 16, 2020

Stefan

The Australian Reserve Bank (RBA) revealed recently that it is considering using the central bank digital currencies in its payment system based on the Ethereum network as we are reading in today’s altcoin news.The Australian Reserve Bank revealed that it has decided to stimulate using CBDC in the wholesale payments system and the plan was to see whether the system will be a good one for banks settles customer payments between themselves and whether they will be able to operate on a permissioned Ethereum-based network. A number of central banks have already started experimenting with digital currencies hoping to create a working system that will soften the impact of Facebook’s Libra. Libra faced regulatory issues and the central banks are advancing their own plans. The bank is still not convicted that cryptocurrencies offer a real alternative to traditional money but they appear to see the value in opting for digital money.For example, the central banks of China, Turkey, Sweden, and other countries are working on developing their CBDCs and the Australian Reserve Bank revealed that it will also conduct trials and test to see how the CBDC might affect modern payment settlement systems. The recent reports show that the bank has a goal to stimulate the role and the impact of the central bank digital currency by creating a system that will allow the financial institutions to settle the customer payments. The bank wanted to see how the CBDC will perform when given to commercial banks as well.The banks will be able to exchange tokens and to settle various obligations and redeem them through the central bank, and if the system functions well, it could secure the role of the banks in the cashless society. The banks are still unconvinced that there’s a real need for the use of these crypto-assets but if they are going to be used, they will bring a lot of advantages because they will mainly reduce the cost of the payments and improve their speed. The financial institutions now are required to exchange instructions with each other all of the time which consumes a lot of time and increases the cost. Going with CBDC will make the transaction time faster but it will also mean that these systems will execute all parts or none of them.

Altcoin News

Gemini Launches An Insurance Company To Cover Up For $200M Of Its Branch

Published

2 days ago

January 16, 2020

Stefan

The Winklevoss' brothers Gemini has launched an insurance company which will cover up for up to $200 million for Gemini Custody which is reportedly the largest amount for any crypto custody service in the world. As Gemini launches an insurance company, the head of risk at the exchange named Yusuf Hussain shared the news and said that the captive insurance company is called Nakamoto, Ltd. and will secure the custodial business of the exchange for up to $200 million.Aiding Nakamoto Ltd. and its launch, there have been a lot of traditional insurance brokers joining this new journey. Aon and Marsh were among them - and the custodial clients of Gemini will also reportedly be able to purchase additional insurance from Nakamoto Ltd. in order to secure their own holdings beyond the general $200 million.According to Hussain, Gemini launches an insurance company as an advancement in its coverage - allowing the institutional clients to continue to meet their own regulatory requirements. He explained that the move “is consistent with Gemini’s approach of being a security-first, compliance-first, and regulatory friendly exchange and custodian.”As a reminder, Gemini initially launched their custody wing in September, when it was in the crypto news for being one of the most impressive exchanges for custodial services.Meanwhile, insurance is still a major barrier to crypto investment services looking to court more risk-averse traditional financial players. The legendary insurance firm Lloyd's of London has gotten involved, securing hot wallet holdings for Coinbase and the Kingdom Trust custody business.As Gemini launches an insurance company, we can definitely relate to the exchange's history with advancing insurance into crypto investments - and specifically the 2018 move to insure hot wallet holdings as further evidence of their desire to provide more security in the industry.

“Obtaining meaningful insurance in the crypto industry remains a challenge, and our captive will help to increase our insurance capacity and move the industry forward," the president of Gemini Cameron Winklevoss added.

In the end, Gemini is not the first to launch an insurance option. Before this, Ledger Vault which is the custody arm of the hardware manufacturer Ledger did the same and acquired a crime insurance policy which supports them with a coverage of up to $150 million in crime losses.

Altcoin News

Venezuela’s Maduro Forces Airlines To Use Petro For Fuel

Published

3 days ago

January 15, 2020

Stefan

Venezuela’s Maduro, the controversial president announced that he plans to revive the economy of the country and his oil-backed cryptocurrency Petro which never attracted any users as per the reports in the altcoin news.The past few years have brought a lot of economic difficulties for the country of Venezuela whose native currency, bolivar crashed and suffered a loss of value because of the extreme inflation. In the meantime, the cryptocurrencies were entering the markets and became a huge trend around the world which is why the country decided to create its own, national cryptocurrency that was backed by the oil supplies of Venezuela.The coin was supposed to be a safe haven from the worthless bolivar but it also aimed to avoid the US sanctions. Petro was launched in 2018 but it failed to attract users as the people were more interested in Bitcoin and other assets. Venezuela’s Maduro announced that he plans to bring the Petro back. Maduro published a decree that says that the airline flying from Caracas now have to pay for Venezuela’s fuel via Petro:

‘’I decree the sale of all fuel sold by the PDVSA for planes operating international routes be made in petros from now on.’’

He ordered that the coin has to be more widely used throughout the country since the US banned the use of the coin and marked it as a scam which only crashed the popularity of the coin. Another one of his decrees states that the coin has to be used for paying the state document services such as passports but the people of Venezuela avoid Petro as much as possible since many do not know how to use it. For the tourists and foreigners, they also don’t use it because it was marked as a scam and labeled as a risk. Venezuela showed that it is open to the idea of crypto by using decentralized coins to battle the hyperinflation.Venezuela even attempted to discuss trades in Petro with Russia and both countries had issues with the US and discussed they were discussing methods of getting rid of the use of USD in their trade deals. Maduro approved bonuses for the public employees and pensioners but insisted they should be paid in Petro. The coins were later exchanged for bolivars and used to purchase other currencies. The country banned the possibility of exchanging petro for bolivars.