There are numerously available exchanges that you can buy blockchain currencies from and be finding the right exchange can be tough. There’s a number of factors that you have to be considered in ensuring that you’ve opened the right exchange. The majority of exchanges offers only the top coins, which usually consists of Bitcoin, Ethereum, Litecoin and BTC cash. Following points, if considered could help the new investors in picking the right exchange.
- Liquidity: The most important criteria in picking up the exchange. Liquidity refers to the ease of buying/selling in the market. A high liquidity means that there is a good number of buyers/sellers. High liquidity is good as it leads to better price discovery and it allows you to transact faster.
- Security: The security mechanism used by the exchange is very crucial ensuring the asset you purchased is safe. The security system should be beyond the reach of hackers, 2-factor authentication and email verifications are one of the few examples of critical factors that one should consider
- Trading Fees: Lower the transaction fees the better it is especially if you’re a constant trader. It is important to look at the fees of the exchange you choose, to see if it’s comparable to other exchanges.
- Ease of Use: The user interface of the exchange should be easy to use and clean to avoid misunderstanding and errors. Having the necessary indicators at the tip of your fingers and the ease of steering through the platform should make it easy for anyone to use the interface.
- Good Customer Support: Having a good customer support would save a lot of time and also chances of errors. Issues on your confirmation procedure, deposit/withdrawals, funds position and trading orders should be solved quickly by the exchanges, or it could cost compromise you time, money and well-being.
- Coin Pairs: There are only a handful of exchanges that offer a wider variety of coins. A more varied choice of coins accessible is better as it gives you more options of coins to purchase
Bitcoin Price Stabilizes At $6,500, Tokens Record 50% Gains
The price of Bitcoin is again swiveling around the $6,500 which is not necessarily a bad thing – especially not after the recent market downturn. Over the past 24 hours, it seems like the BTC price is quite stable.
In other news, tokens such as VeChain, Ontology, and PundiX all recorded 50% gains which made them one-day winners as the crypto market recovered and Bitcoin showed some decent stability.
The biggest surge was recorded by VeChain, which spiked by over 50% against the US dollar and became the best performing digital asset during the week. This is mainly due to investors and their reallocation of the funds from major digital assets like Bitcoin and Ethereum to tokens like Ontology, VeChain, ICON, Pundi X, Nano, and Waltonchain, all in order to push the market valuation up.
The large spike in the price of tokens is definitely a sign of confidence of investors in the market. On the other hand, the positive developments in the crypto sector such as the introduction of the Tracker One Bitcoin ETN to US markets, the high probability of the approval of the CBOE Bitcoin ETF as well as the creation of BAKKT by ICE, New York Stock Exchange, Microsoft and Starbucks all seem to have an impact on the market.
Right now, the ideal scenario is for Bitcoin to remain stable in the $6,000 region. As such, it would establish a solid foundation for a big rally in the short-term.
VeChain (VET) Rises By 30% In A New Widespread Market Recovery
The price of VeChain (VET), which is one of the altcoins that are currently in the news for surging, has recently exploded and rose by more than 30% in what the analysts describe as a major widespread recovery on the market.
This recovery raised the cryptocurrency market cap by more than $5 billion over the past 24 hours – but also brought VeChain to the much-expected $0.010 threshold. The altcoin was previously struggling to secure momentum below $0.008 – and it rose to as high as $0.012 during the intraday trading before settling back to its price of $0.01 on Binance.
Still, the price of VET is down 7% against the dollar over the past week – which is another proof of how serious the recent crypto market crash was. Still, things are looking good now for the altcoin – which is now ranked in the top 20 with seven-day returns comparable to Monero (XRM) and Ethereum Classic (ETC) – both of which altcoins that rose over the past few days.
Even though there is no official confirmation or link on why the price of VET rose by 30%, Vechain trading is centralized on Binance, the leading cryptocurrency exchange out there. On it, users can trade the VET/BTC, VET/USDT, VET/ETH, and VET/BNB pairs which all account for 92% of the total VeChain trading. The other exchange platforms where you can buy and sell VET include LBank, Gate.io and Kucoin.
With a market cap of $571 million, VeChain is now propelling to the 20th position in the cryptocurrency rankings, coming closer to the 19th-ranked ZCash.
‘Toshi’ Becomes ‘Coinbase Wallet’: Coinbase Changes The Name Of Its Wallet
The open source DApp browser and wallet which has been designed by Coinbase is now officially changing its name. From now on, the old ‘Toshi’ will be known as ‘Coinbase Wallet’.
The company announced the news in a Medium post this Wednesday. In it, Coinbase said that the name change will align with the branding of the company – but also will build authority and push more investments that may shape the future of the decentralized web.
The wallet which was launched last year and inspired by mobile money apps like WeChat is also getting a new user interface.
According to the Product Lead at (former) Toshi, Siddharth Coelho-Prabhu, the Toshi app would “upgrade to Coinbase Wallet” shortly and users can look forward at the “same product” with a new and enhanced look.
There will be some upgrades made to the app – in which Coinbase Wallet is expected to serve as a home for “exploring the decentralized web” and all the possibilities coming along with it. Aside from managing Ethereum and ERC-20 tokens (which was possible on Toshi), the new Coinbase Wallet will also support Bitcoin, Bitcoin Cash as well as Litecoin.
Users on the Coinbase Wallet will be able to receive ICO tokens, airdrops and access leading exchanges directly from it – or store their crypto collectibles. When it comes to security, Coinbase said that the new wallet will be equipped with the “best-in-class secure storage” which will secure private keys using the “Secure Enclave of each device and biometric authentication technology”.
In the end, Coinbase’s plans are to make the new Coinbase Wallet an all-around wallet so that users can be confident in storing their crypto and “explore the universe of third-party dApps”. It will make everything possible – from taking out loans to completing tasks – all in exchange for crypto payments.
Ethereum Classic Surges After Coinbase Listing Announcement
Ethereum Classic just rose 15% ahead of its Coinbase listing. The altcoin recorded gains two days in a row. After Wednesday’s 20% gains, it is now trading at around $14 on Bitfinex.
The surge in price follows Coinbase’s announcement in which the leading exchange officially listed ETC as available for purchase and trading on the platform. Ethereum Classic will actually be listed today (Thursday) at 5PM PST.
Starting at 5pm PT tomorrow, Coinbase Consumer customers will be able to buy, sell, store and use Ethereum Classic (ETC) on https://t.co/pl8Hu0qDiW and through the mobile app. pic.twitter.com/Qd7KgYpE0y
— Coinbase (@coinbase) August 15, 2018
After the two-month high which saw ETC climb to $18.50 earlier this month, the price dropped with the recent market crash. However, it seems like Ethereum Classic is recovering well – and the listing on Robinhood also had an effect in boosting its price.
The entire price frenzy started when the rumors about Ethereum Classic being listed on Coinbase began, which happened a few weeks ago. Throughout mid-June, the price of ETC almost reached $20 but fluctuated around $17, falling as low as $11 with the market crash.
ETC has had an all-time high of $45.51 in December 2017 and will hopefully climb to that point again this year, according to analysts. However, the theory of a massive dump is still a possibility – which is why traders need to be cautious. The price should creep up to its pre-listing levels and eventually stabilize in the short to mid-term.
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- 4 Important Things You Need To Know Before Investing In A Blockchain Startup
- Bitcoin Price Stabilizes At $6,500, Tokens Record 50% Gains
- New Patent By Coinbase Aims On Making BTC Payments More Secure
- VeChain (VET) Rises By 30% In A New Widespread Market Recovery
- ‘Toshi’ Becomes ‘Coinbase Wallet’: Coinbase Changes The Name Of Its Wallet
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