Crypto Miami

2021-08-20 16:00:56 ​American investors inclined to buy crypto with credit card, new study reveals.

Out of the 1,000 respondents, 21% plan to take on consumer debt for buying cryptocurrency while more than 20% have decided to use either their bank savings or refinancing homes.

Surveying 1,000 American crypto investors, GamblersPick found that an average millennial today holds a little more than $1,800 in crypto.

The survey reveals that 25% of the respondents bought crypto using credit cards instead of fiat currency, and have borrowed nearly $500 from banks and families to make up their existing portfolio. When asked about their source for future crypto investments, 21% of surveyors revealed their plan to take on consumer debt while more than 20% have decided to use either their bank savings or refinancing homes.

Surprisingly, baby boomers have borrowed over $4,000 on average to purchase cryptocurrency. Compared to this, newer generations have taken fewer loans to enhance their crypto portfolios.

The main reasons for holding crypto are the perceived possibility of a price surge and diversification of the portfolio. While Elon Musk stands out as the biggest influence for the surveyed Americans, investors are also considering inputs from traditional investor Warren Buffet and prominent musician/rapper Snoop Dogg.

Out of the lot, baby boomers reportedly hold the highest average crypto holdings of almost $2,000 and believe in cashing out only after realizing 65% profit. While women, in general, were more likely to sell crypto holdings for paying medical expenses, 31% of Gen Z and 17% of millennials are keeping their options open about paying off student loans with crypto. On average, respondents intend to hold crypto anywhere between six months and five years.

Reddit currently stands as the go-to platform for making crypto-related decisions, however, millennials rely heavily on online forums, Twitter and YouTube for investment guidance.

A similar set of surveys of more than 4,000 people by Harris Poll showed minority communities in America are more than twice as likely to invest in crypto assets. 25% of the respondents from the LGBTQ community reported holding crypto, as well as 23% of Black Americans and 17% of Hispanic Americans. Open / Comment

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2021-08-18 21:00:32 HONEY DeFi

The NFT crypto which saves bees

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Tax tokenomics:
•3% Charity
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•2% burn

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• Community rewards

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Open / Comment

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2021-08-17 16:00:47 ​Alibaba launches NFT marketplace for copyright trading.

Alibaba has launched a new marketplace allowing trademark holders to sell NFT representing licenses to their copyright.

Chinese multinational e-commerce firm, Alibaba Group Holding, has launched a new nonfungible tokens (NFTs) marketplace allowing trademark holders to sell tokenized licenses to their intellectual property.

The new NFT marketplace, dubbed “Blockchain Digital Copyright and Asset-Trade,” can be accessed via Alibaba's Auction platform. NFTs launched via the platform will be issued on the “New Copyright Blockchain” — a distributed ledger technology platform centrally operated by the Sichuan Blockchain Association Copyright Committee.

According to an Aug. 17 report from the Alibaba-owned news publication, South China Morning Post (SCMP), the marketplace hopes to target writers, musicians, artists, and game developers.

The marketplace is already live, hosting several NFTs that are set to be auctioned next month. Bidders must post a deposit of 500 yuan (roughly $77) to participate in auctions. Each upcoming auction has set a reserve price of $15 each.

Buyers can view their collections via crypto portfolio application, Bit Universe, which is integrated into WeChat.

Commenting on the new marketplace, SCMP reporter Josh Ye tweeted that “although the technology itself does not prevent unauthorised copying. Sales include complete ownership of works purchased through the platform.”

Many NFTs on display do not articulate what rights are afforded to purchasers, with one NFT even appearing to depict unlicensed Star Wars fan art.

While this is Alibaba’s biggest NFT announcement to date, many of the firm’s subsidiaries have are already embracing nonfungible tokens.

In July, Cointelegraph reported that Alibaba-owned e-commerce platform Taobao showcased NFTs for the first time in its annual Maker Festival celebrating Chinese art and entrepreneurship. The event hosted the sale of NFT-based real estate created by Chinese artist, Huang Heshan. Open / Comment

2021-08-14 14:00:38 ​London court orders Binance to trace hackers behind $2.6M Fetch attack.

"We need to dispel the myth that crypto assets are anonymous. The reality is that with the right rules and applications they can be tracked, traced and recovered," said Syedur Rahman.

Artificial intelligence research lab Fetch has been granted a request to have major cryptocurrency exchange Binance identify individuals behind a $2.6 million hack.

According to a Friday Reuters report, the Royal Courts of Justice in London has ordered Binance to identify the hackers and seize the stolen assets. Fetch reportedly claimed that hackers stole $2.6 million worth of cryptocurrency from its Binance account on June 6 and resold the tokens for a significantly reduced price.

"We need to dispel the myth that crypto assets are anonymous," said Syedur Rahman, a partner from Fetches legal team at Rahman Ravelli. "The reality is that with the right rules and applications, they can be tracked, traced and recovered."

Rahman reportedly claimed Binance is already in the process of tracking down the individuals and had frozen some of the affected funds. However, the exchange may request evidence from Fetch that its account was hacked before returning the tokens.

“We can confirm that we are helping Fetch in the recovery of assets," a Binance spokesperson said to Cointelegraph. "Binance routinely freezes accounts that are identified as having suspicious activity occurring in line with our security policies and commitment to ensuring that users are protected while using our platform.”

Binance has been at the center of attention in the United Kingdom this year as the local financial institutions announced restrictions on their customers buying cryptocurrency using the platform. The U.K. Financial Conduct Authority ordered Binance Markets Limited to halt “regulated activity” in the country in June. Following that announcement, HSBC suspended credit card payments to Binance, while Barclays blocked customer payments to the exchange. Open / Comment