Binance US aims to add new crypocurrencies to its new platform prior to the launch while the US users are getting blocked from the original Binance.com platform as we can read in the altcoin news below.
The Malta-based cryptocurrency exchange is now going full speed ahead the launch of the new Binance US platform. In order to make the dream into reality, the exchange created a so-called ‘’Digital Asset Risk Assessment Framework’’ and this framework is considering up to 30 different cryptocurrencies projects to the list. According to the announcement, Binance US revealed which projects will be added including: Cardano, Cosmos, Bitcoin Cash, BAT, Binance Coin, Bitcoin, EOS, Dash, Ethereum Classic, Ethereum, IOTA, Chainlink, Loom Network, Litecoin, Decentraland, Augur, TrueUSD, Stellar, XRP, Zilliqa, Waves, VeChain.
Of course, it is still not clear whether all of these projects will be available from day one and its competitors such as Coinbase have revealed the new projects on their own blog with a long list as well. What makes noticeable on the Binance US platform is the first time that an American cryptocurrency platform has officially revealed that it’s looking into listing Binance Coin. The platform also lists successfully the BNB coin look for others like Coinbase and Gemini to potentially follow suit. This doesn’t represent an end to Coinbase but could herald a beginning of the toughest competition that the exchange had to face. Coinbase also dominated the US exchange scene so this could be an interesting competition afterall.
As Binance US explained in their announcement, the platform’s leadership provides a rich selection of cryptocurrencies stating:
“Just as few could have foreseen the rise of social media when the Internet emerged decades ago, the most revolutionary digital assets built upon distributed ledgers are likely yet to be conceptualized. It is with this vision in mind that Binance US strives to be a reliable and efficient marketplace for a rich selection of high-quality digital assets, so that our users can be part of the open and competitive market that discovers projects with true utility.”
As reported in the latest cryptocurrency news, Binance US comes days after Coinbase revealed the addition of eight other cryptocurrencies and revealed it was also exploring the listing for the projects Dash, Ontology, Cosmos, Decred, Algorand and Harmony and Matic.
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“…We tried to increase the volume but can’t do it through the dashboard and were told we needed to email compliance.’’The debacle brought BitPay under fire due to the massive criticism which frequently engulfs the exchange. The prolonged bureaucracy compounded by another scandal including transaction fees which have led to frequent calls for business to open the source alternative payment processor and the logic as explained on Twitter pointed out in the comments on Amazon Watch’s difficulties is because Bitcoin is a free and open payment system and there are third parties that verify the transactions arbitrarily in order for the cryptocurrency to serve its purpose:
“…You don’t need (BitPay) to reject your transactions when you can verify them yourselves for free.’’As noted in the latest cryptocurrency news, BitPay’s difficulties have had a long history since 2017 even when the executives opted to support the controversial SeGwit2x bitcoins scaling proposal which eventually led for the crypto wallet Trezor to ditch the company. Amazon watch even stated that it would look into using BTCPay an alternative open-source option which could copy that similar one of the travel agent CheapAir from 2018. The backlash over the previous actions of the exchange led to many customers closing their accounts and invoices.
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Kraken Pro Trader Believes Crypto Trading Is The New Wall Street
"Wall Street ain't what it used to be. The first 15 years I was on Wall Street, it was fun. I was very fortunate, I started in the CDS market which feels a lot like crypto. Here you have a lot of financial innovation, a lot of trading...It feels very much like that, there's a lot of energy and enthusiasm about this progress and where it's going."Another example is the Morgan Stanley alum Marcus Swanepoel who told the Financial Times:
"Over the past two years we have seen evidence building that bitcoin is an uncorrelated asset class so it makes sense to add it to portfolios."The trend is growing towards more portfolio managers coming in including what Minier says is mavericks and savvy hedge funds entering the crypto space. The digital currency investment company Greyscale investments also saw its assets under management balloon to $2.5 billion and most of which originated from big investors including hotshot hedge funds. The Kraken Pro trader stated:
"I think it's going to be one of those things in a blink that everybody is going to start chasing it.’’With the upcoming launch of the Bakkt bitcoin futures exchange, more traders could begin to feel the way that Minier does and Kraken has been experiencing an uptick with the institutional demand for crypto but he admitted it was too slow. In the meantime, the rival crypto exchange Coinbase based in San Francisco revealed that hundreds of millions of dollars in institutional capital is coming straight off the sidelines into cryptocurrencies a week as we noted previously in the latest cryptocurrency news. They sure can’t find these types of returns in any other asset class with rock-bottom interest rates and the equities mimicking bond yields. Bitcoin in the meantime has generated high returns of more than 150 percent year to date.
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