Archives 2021

Binance Pushes Back Against A Warning From South Africa Regulator

After the warning given by South Africa’s Financial sector conduct authority, Binance has said that it is following the compliance as given by the South African regulators. The company also clarified that they were not providing any type of monetary recommendations to the residents.

Almost a week back, Binance said that it received a warning from FSCA. As per the comments by Binance, the financial sector conduct authority does not have the authority to control any crypto-related investments.

The FSCA is a company that is a part of South African authorities, But, Binance said that the Financial intelligence center was the major regulator in the case. As per a statement by Binance, they have contacted FSCA for clarification.

In South Africa, binance.com is registered with FIC as a voluntary and self-disclosure institution. Binance complies with all acts and regulations by FIC. Thus, it follows the information about the client’s identity, record keeping, and reporting of all suspicious and unusual transactions.

In a warning notice, FSCA has urged the South African public not to make any investment in the Finance Group. FSCA has described Binance as an international company based in Seychelles. But, as per the response given by Binance, the company does not have any related entity within its title in Seychelles.

To date, the response of South Africa in terms of coverage on crypto has been quite standoffish. The nation’s Fintech sector is laying the groundwork for the phased and structured regulation of crypto in South Africa. But, in many instances, FSCA has cited cryptocurrency as a scam, and it says that it can cause monetary dangers in the absence of a strict rule.

The FSCA warning came after monetary regulators in other nations stated that Binance’s mother or father company or its associates won’t be licensed to supply sure monetary providers to the residents.

Three Ways This Bitcoin Bull Run Is Different Than Late 2020

Bitcoin is the only cryptocurrency that has received great interest from institutional investors. In 2021, Bitcoin’s value experienced a decline because of multiple reasons. The value of bitcoin is being compared to its value in 2020, but there are many differences that show that the interest of people in buying and investing in bitcoin has declined. Signalscv.com Research’s director, Pete Humiston, has said that there is a huge difference observed in Q3 2021 and Q4 2020 in Bitcoin.

GBTC uphold its sturdy concession

Instead of the value of bitcoin increasing from $29,000 to $45,000, bitcoin is observed not to attract investors. Though bitcoin’s value skyrocketed previously and high price levels have really enjoyed the attraction and support of investors, clear evidence can be seen between the difference in demand of bitcoin in the previous year and the start of 2021.

For instance, the Grayscale Bitcoin Trust that was quite popular till the end of last year has now continued to trade at a decline of 13% in its price as compared to the previous week. Even after bitcoin’s price skyrocketed, GBTC’s demand has not increased at a fast pace. But at the same time, the decline in GBTC isn’t considered theft by retail and institutional investors.

Humiston added that “There has been a 20% discount set on GBTC in May 2021, but it is still trading at a sturdy concession. If demand increases, which seems impossible at this time, it would be best if the discount decreases and the participants start to take it as an opportunity to own GBTC.

Rates of Funding are lower when compared to the performance of Bitcoin’s value.

There are multiple factors that differentiate the structure of the bitcoin market, including low funding rates and low open interest. Both the factors compare with the Bull Run of 2020 and go against everything, resulting in an increase in the price of bitcoin in the past month. In the meantime, it has been seen that the price of bitcoin has moved from $30,000 to around $48,000 and the open interest has decreased, and the funding rate is also low.

Humiston said that “The massive increase in the price of bitcoin comes as a shock, and investors get the surprise of an increase in price which isn’t normal”. After the price crash of Bitcoin in May 2021, the funding rates are known to increase.

You Can Now Buy A Used Hyundai, Not Just A Lambo, With Bitcoin

With the changing time, a lot of changes are found in the acceptance of cryptocurrency as a payment method. Presently, many cases related to practical crypto usage have come in the news. Another big surprise for the crypto owners is waiting now. The surprise is especially for the people living in North America as they can get a new vehicle using bitcoin. Thinking is it true or not? Well, it’s true and the bitcoin owners get to use bitcoins to get a new vehicle.

A superstore for vehicles based in Quebec, namely, HGreg is readily accepting payment in terms of cryptocurrency. The store is located in about 30 locations in North America. So, what are you planning to buy? Want to bring home a brand-new vehicle? Thinking to spend money on the pre-owned ones? If so, it’s easier to buy it with bitcoins. It’s not a joke and the stores are accepting payments in crypto. You can visit a nearby store in North America and see a model that suits your requirement. So, it’s the right time for bitcoin owners to come into the market and use it for buying vehicles within the month.

The auto dealer is also present in other locations including Florida and Quebec. Also, the store is emerging in the glam light after becoming the first group in the automotive sector accepting payments in the form of digital cryptocurrency within the daily sales. For 25 years, the company has indulged in selling vehicles above 500,000. It has a warehouse located in Miami with a stock of above 1,000 vehicles.

HGreg reveals “Some revenue is maintained by the store in the same format from the vehicle sale for payments accepted in bitcoin cryptos.” It shows an indication of the plan for securing cryptocurrency like BTC (bitcoin) within the balance.

When talking about the payments accepted in the form of cryptos, a statement is announced by the franchise: “We feel a pleasant intuit after reaching at the techno forefront, helping customers get hands over a new payment method. Also, we have a belief that it’s going to help us maintain cryptocurrency assets.”

The franchise comprises several cars with different models and varieties, whether you want Hyundai or a Lamborghini. With the cryptocurrency like bitcoin, you can get different car models or even luxurious cars. In Canada, HGreg professes to be the largest dealer in vehicles with a wide inventory.

Such a big decision made by HGreg for accepting payments in cryptocurrency holds a link with the investment made by Tesla in bitcoins. As per the reports, 7.7% cash in gross total is transferred in bitcoin crypto by the electric car manufacturer. Within the procedure, an announcement is made by the company regarding the acceptance of payments in Bitcoins.

In the current news, cryptocurrency is holding a greater place in the investment domain. With such a place, the payment network is widely accepting payments in digital cryptocurrency. Recently, OLB Group showed a green signal to payments in cryptocurrency for the merchants in the United States. It also allows firms and businesses to consider accepting payments in Dai, USDC (USD Coin), ETH (Ether), and Bitcoin.

Immediate Edge UAE – The Present & Future Of Online Trading

Online trading has seen a considerable amount of escalation in recent times and is quite sure to bloom soon as well. This growing popularity of online trading has set the path for various new online trading applications/websites, and immediate edge UAE is one to look for the quest.

It is an online tool that helps anyone gain more knowledge about trading irrespective of their trading experience. The prime feature of this tool is possible to set up in just a matter of minutes. The creators behind developing this tool’s core idea are to help people teach to improve their trading knowledge in a brisk amount of time.

Prime features of immediate edge UAE

As already mentioned, there are many online trading applications and websites available over the internet. Still, some features of Immediate Edge UAE make it stand out among those.

  1. Simple and easy to use

Unlike other trading platforms, Immediate Edge allows its user a simple easy to use and interactive interface.

  • Advanced AI & algorithms

Immediate Edge uses advanced AI technology and algorithms to make trading a pleasant experience.

  • Free to use

Immediate Edge is an entirely free to use tool with no hidden charges. A user can traverse through his/her journey from registration to withdrawal via trading without paying anything to use means.

Since online trading started to gain some popularity, the stress associated with it also started gathering mass. Online trading is associated directly with one’s money, which leaves the margin of error tending to absolute zero. Immediate Edge UAE somehow takes this stress away to a considerable amount of extent.

The advanced algorithms and precise security measures of this tool help its user experience the pleasant side of trading. The working of this tool varies as per the user’s framework and experience.

If you are a beginner, this tool allows you to take the training session and learn the fundamentals of trading before jumping right into online brooking. Simultaneously, if you previously had some training sessions, you can save your time and start trading. But as mentioned earlier, this tool works as per the user’s preferences and limitations. So before trading, the app asks for the user’s trading parameters. Once a user inputs his/her criterion, the tool studies the market data and comes up with the best trading option for the individual.

Online Trading can be an up-down journey for anyone, but Immediate Edge UAE makes sure to make the trading journey as pleasant as possible.