Crypto Land

2021-02-24 20:01:03 ​​1 Million First-time Buyers Bought Bitcoin on Dorsey's Cash App Last Month.

2020 was a bumper year for Jack Dorsey’s Square and its crypto-embracing Cash App mobile payments app – but one that could soon be eclipsed, after the company revealed that “over three million customers” bought or sold bitcoin (BTC) on its platform in 2020, while January this year saw “more than 1 million customers” purchase bitcoin “for the first time.” Also, Square announced a USD 170m purchase in BTC.

The claims were made in an FY2020 Q4 earnings report and an official release for investors, where Square added that in the final quarter of the financial year that was “bitcoin volumes per customer” jumped by over x2.5 year-on-year.

The firm said that this growth was “primarily driven by buying activity, as existing customers continued to buy bitcoin and new adopters bought even greater volumes of bitcoin.”

And, like PayPal recently, it looks like Square is happy with its BTC customers, who tend to be more active on the platform than fiat users.

Square wrote,

“Bitcoin has helped increase gross profit per active customer and engagement in our broader ecosystem as bitcoin actives use other products, such as Cash Card and direct deposit, more frequently compared to the average Cash App customer.”

PayPal also enthused about higher engagement figures for crypto customers, claiming that they were logging in to their accounts far more often than regular users.

And Square added that new customers were more likely to “adopt products like” bitcoin or its Cash Card service “within their first month” of using Cash App.

In December, Cash App had more than 36 million monthly transacting active customers, up more than 50% year over year.

And it looks like Square is becoming a more active BTC buyer itself as it has purchased approximately BTC 3,318 at an aggregate purchase price of USD 170m, meaning it paid USD 51,236 per BTC on average. Combined with Square’s previous purchase of USD 50m in BTC in October last year, this represents approximately 5% of Square’s total cash, cash equivalents, and marketable securities as of December 31, 2020, the company said.

Looking forward, the firm suggested that it would “further scale” its marketing investments and pursue business from sometime customers by “expanding” its network and launching “new products.” Open / Comment

2021-02-24 18:01:06 Currency.com crypto exchange celebrates its second birthday!

Currency.com has shown significant growth during the two years of operation, becoming the largest cryptocurrency exchange in the CIS.

In 2020:

- The number of clients grew from 50,000 to 250,000.
- The number of deposits increased threefold.
- In December 2020, the trading volume reached $2.6bn, which is higher than for the entire 2019.
- The maximum daily trading volume reached $120m.
- In 2020, Currency Com Limited was authorised by the Gibraltar Financial Services Commission (GFSC). The company was also registered by the FINTRAC (Canada) and by the FinCEN (USA), which enabled it to provide its services in Canada and the US respectively.

Join Currency.com! Open / Comment

2021-02-21 21:00:23 This Telegrams channel is very useful

Here you can find gift-cards and discounts for goods and services of famous brands. Stop to pay full price for sneakers or flights! So many people already save with our gift-cards.

The saying "Doesn't matter if you wear old sneakers when you travel” is outdated.

Walk in your new shoes along the street during your dream holiday with the help of our channel t.me/BH_GIFT_CARD Open / Comment

2021-02-21 20:00:47 ​​Too Costly Ethereum is Pushing DeFi Users Away, Fuelling BNB Rally.

Binance coin (BNB) is now the third-highest cryptocurrency by market capitalization after its price rose by more than 40% in 24 hours. BNB now stands at USD 270 (13:45 UTC), with the native token of the Binance exchange benefitting from the migration of DeFi users towards Binance Smart Chain (BSC).

The flocking of decentralized finance users towards a centralized platform has left Ethereum (ETH) advocates with a sour taste in their mouths, with some figures even speculating that Binance is responsible for the recent spike in Ethereum gas fees that are pushing users away.

However, other commentators have commended Binance for providing a genuine alternative to high fees, while others have urged the Ethereum development to speed up its work in transitioning to a proof-of-stake mechanism.

According to Mable Jiang, Principal at Multicoin Capital, the DeFi industry is now in a phase when ETH is expensive to use, layer 2 solutions on the Ethereum blockchain are not ready yet, and the user interface of some promising layer 1 alternatives is not great.

"For projects that are harder to stand out competitively on Ethereum, it makes sense for them to tap into this ecosystem because Binance was working hard to build up the BSC community and offering a lot of support. At this alternative battlefield they may have a better chance," she added.

Meanwhile, Jason Choi, General Partner at The Spartan Group, said that while he "can't speak to how organic the volumes on BSC protocols are," this might be the first time when users that are looking for lower fees and have lower sensitivity to decentralization have an alternative now. Open / Comment

2021-02-20 18:49:53 ​​Why users are leaving Uniswap to join 1inch?
Here is a reason!

Aggressive marketing?
Definitely, a non-standard approach to attracting new users play a role.

For example, recently, 1inch airdrops 6 million 1INCH tokens to Uniswap users that have been active for a minimum 20 separate days and never interacted with 1inch. This news causes huge changes asap: 25 000 users left Uniswap to join 1inch.

According to a 1inch spokesperson, there are about 25,000 such addresses, entitling each to 240 tokens or $1,350 at current prices. The airdrop looks to entice active Uniswap traders to try 1inch, the spokesperson said.

But marketing is just a push. 1inch constantly proves its effectiveness and profitability by illustrative examples. No matter which marketing activities will be conducted by Uniswap, his indicators will remain much worse.

Effectiveness pf 1inch LP?
Here is the case. 1inch Liquidity Protocol has earned on fair volume from the aggregation of just $1.3M over $49k of fees. In comparison, it had 15 times more volume but collected much less fees.

1inch liquidity protocol gets only fair volume from aggregators. That means the algo swap only if it is profitable for the user.

Unique opportunities for users?
Recently, 1inch gives its users an opportunity to invest in the hottest “blue chips” of the DeFi space.

The newest one is 1INCH-VSP. Liquidity providers in this pool will receive 0.01% (150k) of the 1INCH token’s total supply, distributed over a four-week period.

Other “blue chips” that bring profit to 1inch users:1INCH-VSP, ETH-TORN, ETH-OPIUM,
stETH-LDO,

For now, APY on all those pools goes crazy. The only thing that is left is to connect the wallet to 1inch pools. Open / Comment

2021-02-18 21:00:42 ​​Robinhood Suspected To Be a Dogecoin Whale As It Plans New Crypto Services.

The under-fire American trading platform Robinhood said it will provide customers “the ability to deposit and withdraw” cryptoassets and has claimed that it has no crypto holdings – despite mounting suspicion that it could be one of the mysterious dogecoin (DOGE) whales who control vast amounts of the runaway token.

In a series of tweets, Robinhood wrote:

“So much interest in crypto! To be crystal clear, we fully intend to provide the ability to deposit and withdraw cryptocurrencies, including DOGE. Robinhood Crypto does NOT currently invest in cryptocurrency or use any customer cryptocurrency for our own benefit.”

The potential DOGE connection is key, as an increasing number of social media sleuths – including man-of-the-moment Elon Musk – think they have reason to believe that a wallet that holds almost 28% of the DOGE currently in circulation secretly belongs to Robinhood.

Per Bloomberg, Tom Robinson, the chief scientist and co-founder of the blockchain data tracker Elliptic, said of the wallet,

“It almost certainly belongs to Robinhood. The timings of its creation, and the creation of the addresses that it received funds from, match the timings of Robinhood’s support of dogecoin.”

Musk, meanwhile, has been wading into the argument with apparent relish.

In response to a dogecoiner’s demand for Robinhood to stop “dodging DOGE questions and hiding behind scripted answers” and a demand for “transparency,” Musk tweeted, “You’re right.”

And in reply to another DOGE aficionado who opined, “If the top whale wallet is Robinhood then I think dogecoin has a clear trajectory to the moon,” Musk wrote: “Sounds like it is.”

For now, however, it appears that Robinhood is intending to play its cards close to its chest, and will stick with responses like the below. Open / Comment

2021-02-17 23:51:52 Why to become a HASH holder?

HASH will be listed on Coinsbit exchange on February, 26.

The token was issued just 2 weeks ago and already demonstrated stable growth – don’t hesitate to join Hashbon Community!

Its members have an early access to bounty-earning opportunities and connection with the outstanding Hashbon project operating in the crypto space since 2016. Hash token holders will earn rewards soon – special features inside Hashbon ecosystem, e.g. lower exchange rates. 

Hash token contract address is 0xeb1112ac78d537853150e2a07e8b765e29d3f019.

Feel the beat and don’t miss HASH opportunity! Open / Comment

2021-02-17 14:09:54 ATTENTION !!

New +10x pump coin will be posted in WHALE'S PRIVATE channel

• Transparent record of past calls
• Daily highly Accurate Pumps

Link open only for LIMITED TIME

JOIN FAST Guys

https://t.me/joinchat/WDYWDyb1XQeUP5ox Open / Comment

2021-02-15 20:00:58 ​​Elon Musk Offers to 'Pay Actual $' If Dogecoin Whales Empty Their Wallets.

After claiming that there's too much concentration in the dogecoin (DOGE) ownership, the world's richest person, Tesla founder Elon Musk has offered a solution.

"I will literally pay actual $ if they just void their accounts," he tweeted today.

Several hours earlier he claimed that if major DOGE holders sell most of their coins, "it will get my full support."

"Too much concentration is the only real issue [in my opinion]," Musk said.

Tesla's and SpaceX's founder said on multiple occasions that his tweets about dogecoin are meant to be jokes. Open / Comment

2021-02-14 12:00:19 Sources: India’s Crypto Ban Most Likely, Investors to Get 3-6 Months to Liquidate Holdings

t seems that the Indian government looks all determined to ban cryptocurrency operations in the country. Citing sources and officials familiar with the matter, BloombergQuint reported that India is likely to proceed with a complete ban on crypto investments.

Requesting for anonymity, a senior Finance Ministry official told the publication that cryptocurrency usage in any form will be banned under the new law to be introduced in the parliament. This would also include a ban on transacting directly via foreign exchanges.

However, this ban won’t be an overnight regulation passed. Meaning, once the law comes into effect, investors will get 3-6 months of transition period to completely liquidate their investments.

While the final decision is yet to come, it looks like the government of India is looking to adopt a China-like model wherein it introduces if official CBDC user central ban – Reserve Bank of India (RBI).

The Indian government has recently listed The Cryptocurrency and Regulation of Official Digital Currency Bill, 2021. The purpose of the bill states:
Indian Crypto Industry Watch Developments Closely
Over the last three years, the Indian crypto industry and investors have been kept on the edge by RBI as well as the government. The lawmakers’ inaction and indecisiveness on crypto rules have kept investors worried. Unocoin co-founder and chief executive officer Sathvik Vishwanath said:

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https://coingape.com/sources-indias-crypto-ban-most-likely-investors-to-get-3-6-months-to-liquidate-holdings/?utm_source=%40jury&utm_medium=coingapeTelegram&utm_campaign=traffic Open / Comment