Coinbase’s competitor and crypto exchange veteran CEX.io has opened a new U.S. office. The reports that we have in our coming altcoin news below, explain more about the decision so let’s find out.
Cex.io is one of the few exchanges that accepts credit cards for many years back so the company finally decided to launch a US wing. Coinbase is now in a really weird position since Binance also started expanding across the world so they have to do something in order to keep the clients coming in the upcoming years. The main branch of Binance currently offers credit card deposits via the Simplex service which integrates multiple exchanges and wallets in order to help people acquire crypto at a premium. Coinbase, on the other hand, offers market-rate crypto and a fee which usually plays a major role in the market’s rolling volume. If CEX.io opens a similarly attractive product, traders expect that it will surpass the influence of both of the previously mentioned exchanges.
CEX.io has done about $5 million over the scope of the 38 trading pairs it offers. By expanding to the US customers, the statistics will improve dramatically especially if the exchange focuses on the main target which is all of the unsatisfied customers of Coinbase to move to CEX. Coinbase’s competitor has some serious job ahead since many exchanges struggle with scale and have a hard time to process customer support requests. Also, many minor exchanges engage in different tactics in order to increase their statistics which includes wash trading and transaction mining. CEX.io wrote a notice to its customers:
“CEX.IO has already been operating in 20 U.S. states that allow anyone to facilitate fiat-to-crypto transactions. And we’ve received 9 new Money Transmission Licenses (MTLs) in 2019!
“Our next move is to obtain an MTL in every state in the U.S. and continue in our mission to provide a regulated, trusted path for the general public to participate in the digital economy.”
As reported in the latest cryptocurrency news at DC Forecasts, Binance will have a lesser hill to climb than CEX which according to the Google search results, the exchange yields more good results than bad. The minor hack that occurred already fades as the giant gets stronger and bigger.
Coinbase Closes Its Bundle Product After 8 Months On The Market
‘’Coinbase Bundle purchases have been deprecated, as such all assets purchased in the Conibase Bundle have been redistributed to their respective individual asset wallets.’’Coinbase Bundles were meant to provide the investors with a diversified digital asset portfolio which could be dollar-cost averaged by using the same tactic that the investors use in traditional asset classes. Investors could also spend up to $25 to purchase a bundle of five cryptocurrencies which were easily balanced in proportion to their own market cap. For example, Litecoin, Ethereum Classic, Ethereum, and Bitcoin comprised each bundle. In a combination with Coinbase Learn and Asset Pages, the bundles were meant to look good for crypto newbies that are aiming for the dollar cost average into some long positions without having to conduct a huge amount of technical analysis. When it was first introduced in 2018 in September, Coinbase noted:
‘’The vision of an open financial system depends on people’s ability to understand, explore, and choose cryptocurrencies. We expect that millions of people will make their first cryptocurrency purchase in the coming years. But all too often, getting started can be overwhelming for people learning about crypto for the first time.’’Now, after 8 months, Coinbase closes the Bundle project and this decision is bound to draw some criticism but maybe pleasure as well from those who dislike the company. It could be a very smart move to bin the product since the altcoins have been crashing recently as bitcoin corrected and managed to get on the rallying track. As noted in the latest cryptocurrency news, the cancellation of the Coinbase Bundle product could add some credibility to the argument that the diversification does not always work for crypto despite the sector being too volatile or calm.
Global Accounting Firm KPMG Partners With Microsoft To Develop Blockchain
“While we will be able to consume more data more quickly and across more locations than ever before in this next wave of telecom advancement, it is becoming increasingly complex for telecom companies to track and settle interchange fees.”The blockchain being piloted by KMPG, Microsoft and R3 is definitely a hot topic and aims to reduce the future costs, number of disputes and time involved in telecom settlements caused by “billions of mobile interactions flow[ing] through hundreds of connected networks managed by dozens of customers and suppliers.” However, it is not just future costs that the business partnership wants to solve. On the table are also current inefficiencies in the markets such as settlements and reconciliations which are currently handled manually and can take a month to be completed, Ghosh said. Currently, he said, a huge amount of data is generated around mobile devices. However, it goes a long way to know the conditions of a user's contract and their billing information - which must be authenticated by at least two parties if cross-service operations occur. Before the blockchain initiative, the global accounting firm KMPG had advised telecom operators on capital-efficient deployment of 5G networks, cyber security, privacy and data protection - all of which was featured in our coming altcoin news.
Japan Will Create International Crypto Infrastructure Better Than SWIFT
Former CEO Of WEX Crypto Exchange Gets Arrested In Italy
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