Impact of Bitcoin and cryptocurrency on investment in Africa vs. Europe

Bitcoin and other cryptocurrencies are expected to grow in popularity in 2020 and 2021, with their market value increasing dramatically. As a result, many individual and institutional investors are now interested in learning more about crypto investing. These techniques will differ depending on where you are in the world.

Africa and Europe are two very different worlds in terms of politics and economics. This, without a doubt, opens up new investment options. Due to, and as a result of, Europe’s riches, it is a little more conservative in its investment.

Germany, for example, has a massive economic surplus that has been condemned as greedy by some. Africa, on the other hand, has typically pursued higher-risk investment possibilities. Cryptocurrencies such as Bitcoin, Ethereum, and even Dogecoin are examples of this today.

These assets carry a significantly higher risk, but they make sense for African investors who are accustomed to more volatile currencies and general instability. Furthermore, for many Africans, crypto investing is a means to get around what we consider to be bad local fiscal and monetary policy. A policy that is frequently perceived as damaging customers, limiting growth, and making it more difficult to transform your efforts into profits.

Germany, for example, has a massive economic surplus that has been condemned as greedy by some. Africa, on the other hand, has typically pursued higher-risk investment possibilities. Cryptocurrencies such as Bitcoin, Ethereum, and even Dogecoin are examples of this today.


These assets carry a significantly higher risk, but they make sense for African investors who are accustomed to more volatile currencies and general instability. Furthermore, for many Africans, crypto investing is a means to get around what we consider to be bad local fiscal and monetary policy. The policy is frequently perceived as damaging customers, limiting growth, and making it more difficult to transform your efforts into profits.

Who Invests in Crypto in Europe, and How Often?

Individuals and institutions who invest in cryptocurrencies have differing perspectives on where they should put their money. Some businesses and people are eager to purchase Bitcoin and other high-value cryptocurrencies, as well as engage in mine, which is especially essential for businesses looking to be ahead of the curve and use their excess capital to generate more revenue.

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So, these are the investors and methods that are focusing on furthering the development of cryptocurrency and Bitcoin. Then there are some who are more interested in learning more about the underlying technology, such as blockchain. Blockchain provides tremendous value to both consumers and companies.

Processes are automated and safe thanks to this technology, since there can be no human error in the public ledger, which automates shipments and other transactions, saving time, effort, and increasing precision and productivity.

For the time being, Europe is more inclined to accept blockchain as a viable financial choice. To some extent, cryptocurrencies and digital currencies appear to be a good concept. For example, the European Central Bank (ECB) is working on a digital currency project that would ostensibly function alongside the euro in order to increase stability and aid the European Union’s transition to an online single currency that allows it to welcome innovation.

What about investing in crypto in Europe?

In Europe, there is a somewhat distinct type of cryptocurrency investing. Naturally, major technical advances continue to propel the sector ahead as a whole, but there are also higher-risk investments. France is at the core of a lot of intriguing cryptocurrency developments in Europe. French firms and people appear to be interested in entering the cryptocurrency industry, but not to the same degree as African investors. France is often regarded of as Europe’s digital and inventive powerhouse.

Companies and private people in France appear to be hesitant to invest in cryptocurrencies as an asset. The interest appears to be there, but because of the conservative investment culture, many people are just investigating the possibilities rather than taking action. Bitcoin does not appear to be the preferred cryptocurrency for many European and French investors.

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Europeans appear to have more FIAT savings and are less willing to risk them on digital currencies, but the massive returns they may make by investing even a modest amount in crypto remain alluring.

Of course, most of this is based on conjecture rather than hard, cold facts, which is a cause for concern. However, the greatest method for becoming a good investor is to regard your investing money as something you may risk and lose.

There are numerous factors to consider in terms of long-term sustainability. We’ll just put them as bullet lists to make it easy to follow along :

  • Long-term objectives
  • Investment return
  • Adapting to new technologies

When it comes to long-term viability and prospects, each of these is critical to examine. Of course, some alternatives guarantee a greater potential return, which is what attracts many people to choose one over the other.

Finally, whether you invest in Europe or Africa, you should think about your own unique requirements rather than succumbing to pressure from investing communities.

SEC helped Ethereum to overtake XRP as 2nd most valuable cryptocurrency- Ripple CEO

Brad Garlinghouse, the CEO of Ripple, has been speaking out on the status of the crypto market and regulations, and a resentment of the financial regulator’s approach to Ethereum looks to have surfaced.

On Oct. 21, during the DC Fintech Week virtual conference, Ripple CEO Brad Garlinghouse said that Ethereum has received governmental approval, allowing it to exceed his company’s XRP coin.

Ripple has been investigated by the Securities and Exchange Commission (SEC) for accusations that XRP is unregistered security. Ripple requested information from the SEC under the Freedom of Information Act in January, asking why ETH was not considered a security. A district court permitted the business to depose a former SEC employee who determined in 2018 that ETH was not security six months later, in July.

Garlinghouse obviously believes that his company has been treated unfairly and that Ethereum’s subsequent success is due in part to the SEC’s more favorable handling. It is impacting the market, he said, adding:

“XRP was the second most valuable digital asset just a few years ago.” ETH has certainly skyrocketed since it became evident that the SEC has given it a pass, and that clarity has helped.”

“You have nearly 50,000 U.S. people who hold XRP who are trying to sue the SEC for ‘protecting them’.”

Earlier this month the U.S.The district judge ruled that anyone holding the company’s XRP token cannot be charged in the lawsuit.

In late December 2017, XRP was the second most valuable cryptocurrency by market capitalization. It has since dropped to eighth place, whereas Ethereum has remained in second place since then.

Garlinghouse also said that the SEC has been active in its anti-crypto stance, citing recent proceedings against his business and Coinbase as examples.

In response to Ripple’s legal dispute with the Securities and Exchange Commission, he stated that the SEC professes to be safeguarding customers, but:

The SEC’s request to extend the time for completing discovery in its continuing action against Ripple Labs and its officials was granted, and the deadline has been moved out to January 14, 2022.

Any additional delay in settling this matter, according to Ripple, will “cause substantial harm to the defendants’ and XRP holders’ interests.

“The court recognized this, but noted that the “extra time requested by the SEC will have no impact on the case’s timeline.”

Russian Oil Companies Propose Cryptocurrency Mining at Their Wells

Companies involved in Russian oil extraction have devised a plan to arrange cryptocurrency mining directly adjacent to the oil reserves they are exploiting. Excess gas generated during oil extraction may be used to power data centers dedicated to currency minting, which would otherwise be squandered.

Russian Oil Industry Crypto Mining Project Under Review by Ministries and Central Bank

Russia’s oil firms have launched a plan to start mining cryptocurrency at their extraction locations, which is now being discussed by government authorities in Moscow. The industry proposes to generate power from associated petroleum gas (APG) for use in the energy-intensive process of digital currency mining.

Experts believe the initiative has the potential to attract international investors, particularly from China, where bitcoin mining has been heavily regulated this year. Industrial activity is practically forbidden in the People’s Republic, whereas mining is not illegal but is not adequately controlled in the Russian Federation.

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The Ministry of Industry and Trade recently requested input on the proposal from the Ministry of Digital Development and the Central Bank of Russia (CBR), according to Russia’s top business newspaper Kommersant, citing a letter from the Deputy Minister of Industry Vasiliy Shpak. His department specifically asks the monetary authorities if this is a lawful activity.

The statute “On Digital Financial Assets,” which went into effect earlier this year, is the key piece of legislation governing cryptocurrencies in Russia. However, more regulation governing their distribution in Russia and related operations is required. Crypto mining as an industrial activity is gaining traction in official circles, with Anatoly Aksakov, the head of the legislative Financial Market Committee, suggesting in September that it should be recognized as such and taxed appropriately.

According to Kommersant, a source close to the Ministry of Industry disclosed that one of the major Russian oil corporations has already started a crypto mining operation and wants to expand it. “However, because this section is legally grey and the firm is concerned about a bad reaction from the central bank, it resorted to the Ministry [of Industry], which may address the risks with the regulator,” a knowledgeable source told the newspaper.

Where can you store your crypto?

A problem many newcomers to cryptocurrencies walk into. Where am I going to keep my crypto? Well, the answer is quite simple. Because you only have 2 choices of storing your crypto. That is either with a central entity like a crypto exchange or bank, or you can keep the crypto in your own wallet. Both options have their different pros and cons. But ultimately it depends on the following factors –

Keeping your crypto with an exchange/bank :

Pros:

  • You can enjoy the userfriendly interface of the exchange/bank
  • Often has customer support when you get stuck
  • Sometimes offers some insurance over your funds.

Cons:

  • No direct control over your funds
  • You can not freely interact with on-chain Dapps
  • You can not spend your crypto freely because of the limited withdrawal or payment features

Keeping your crypto on your own wallet:

Pros:

  • You can interact with any type of Dapp freely
  • You are in 100% control of your funds
  • Pay to anyone at any time wherever you want

Cons:

  • More technical interface
  • You are the only one in control (so make a backup)

After you have decided where you want to store your crypto you have too of course buy some first. So you will always have to go through some kind of exchange at the beginning. You could use the user-friendly Bitdenex exchange for example to start your crypto journey. Now that you bought some Bitcoin, Ethereum, or any other crypto on Bitdenex and want to send it to your own wallet. It is time to pick a wallet that’s right for you.

Finding the right wallet with Yada Wallets

The cryptocurrency wallet filtering website, Yada Wallets offers a series of wallet filters that can help you find the best wallet in no time. It does this with a series of specific filters. So that you can use these to find all the wallets with the features you want. But on top of that, you can leave/read reviews on these wallets to help you with your decision.

These filters can help you enormously. Because maybe you are searching for an Ethereum wallet that lets you connect to Dapps. So you can start using Defi. But after a quick google search, you find a list of the top 10 wallets for Ethereum. With most of them being Bitcoin-only wallets.

This is not what you want but a reality for most of us. The fact simply is that it is difficult to find a wallet that supports all the features and blockchains you want. This especially goes for lesser-known blockchains.

Finding your crypto wallet

Because of this problem, many of us just stop searching and keep our coins on an exchange. To combat this problem the guys from Yada Wallets came up with a simple solution. They created a crypto wallet search engine that lets users filter between different blockchains, custodial & non-custodial, and much more.

With this new tool, it is super easy to find is good for you.

When you go to the website you can just follow these simple steps to find the wallet that is good for you

Step 1

Select on what kind of device you want your new crypto wallet. You can choose between hardware, computer, Web, and mobile wallets.

Step 2

Choose what kind of blockchains you want to have supported on your new wallet. There are many different blockchains but you can just type yours in the blockchain search box to let it come to the top.

Step 3

After having chosen the Blockchain(s) we will now decide if we want to store the Private Key on our chosen device or if we rather have the company that provides the wallet store it for us.

Step 4

Now it’s time to choose if we want to have a supported SideChain integrated with the wallet. Sidechains are usually meant to make the transactions of certain blockchains faster and cheaper. But it is not necessary to use.

Step 5

Now it’s time to choose if you would like a certain token protocol supported within the website. The majority of all tokens are ERC-20 tokens. But if you want to use a specific token within a wallet it is best to do a quick internet search to find out what protocol your token follows.

Step 6

For the last filter, we can choose if we want any extras in our new crypto wallet. These extras are few but very specific. You can choose between “Crypto trading (to find exchanges like Bitdenex), Web3, Hardware wallet support” and much more.

Just follow these easy 6 steps and you will have the perfect wallet for you in no time!

We believe that to get crypto to the masses it is key to get as much adoption of both exchanges and wallets as possible. The Yada Wallets search tool helps with this and can help new and old crypto users to find the right place to store their crypto.

We hope this blog helps you in your search for the best place to store your crypto and that you may enjoy using it!

Blockchain Game Developer Animoca Brands Raises $65 Million – Ubisoft, Sequoia China Participate in Funding

Animoca Brands, a worldwide developer that uses popular brands, gamification, AI, blockchain, non-fungible tokens (NFTs), and mobile technology, said on Wednesday that it has completed a $65 million capital round. After obtaining funding from Liberty City Ventures, Ubisoft Entertainment, Sequoia China, and Dragonfly Capital, Animoca Brands currently has a total valuation of $2.2 billion.

Animoca Brands has raised $65 million in funding

Animoca Brands reported in July that it has funded $138.88 million to use non-fungible token (NFT) technology to deliver digital property rights. Yat Siu co-founded the firm Animoca Brands in January 2014, and the company has recently concentrated on blockchain gaming and NFTs. Sky Mavis, the developers of Axie Infinity, and Opensea, the biggest NFT marketplace in terms of transaction volume, have received funding from Animoca Brands.

“Through the use of blockchain and non-fungible tokens (NFTs), Animoca Brands is bringing digital property rights to online users, primarily for consumer video game players and the metaverse; these technologies enable true digital ownership of users’ virtual assets and data, and offer various play-to-earn capabilities, asset interoperability, and defi/gamefi opportunities,” according to the Animoca capital raise announcement on Wednesday.

‘Future Digital Property Rights Would Revolutionize Industries by Expanding Financial Inclusion,’ says Animoca Brands Co-Founder

Liberty City Ventures, Ubisoft Entertainment, Sequoia China, Dragonfly Capital, Com2uS, Kingsway Capital, 10T Holdings, Token Bay Capital, Smile Group, and Tess Ventures were among the investors in the current fundraising round. The business also performed a pre-money appraisal, which came in at $2.2 billion.

In a statement, Mia Deng, a partner at Dragonfly Capital, stated, “I believe that the game, art, and music sectors are experiencing a digital renaissance phase uniquely enabled by blockchain.” “We are delighted to collaborate with Animoca Brands to construct some of the major on-ramps of the virtual world since Yat and his team have shown vision and foresight from the beginning.”

Yat Siu, Animoca Brands’ co-founder and executive chairman, stated that the business believes in “future digital property rights” and that this creative trend would “revolutionize sectors by extending financial inclusion.” The use of NFT in games, according to Yat Siu, has demonstrated that the “future is already here.”

This French daily newspaper sold as an NFT. Is this the media’s future?

The media landscape is being swept by the winds of change. On October 19, the French newspaper “20 Minutes” auctioned its own non-fungible token (NFT) during a charity auction.

The art gallery Piasa in Paris organized the sale of this six-page supplement titled “The Crazy Years of 2020.” The lucky buyer received a €3,000 offer.

A certificate of ownership based on blockchain technology, a “tamper-proof mechanism” that authenticates both virtual currency transactions and purchases of digital items, ensures that the copy is unique.

The funds earned will be donated to the International Federation of Journalists’ Safety Fund (IFJ).

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When a free daily newspaper joins the crypto market, it will be a game-changer

20 Minutes is a free general news daily that was founded in 2002 and is delivered throughout France.

The issue was picked by the editors and internet users for its “prophetic aspect” and was published on January 13, 2020, just before the COVID-19 epidemic reached France.

This year, the value of NFTs has skyrocketed in international auction houses. NFTs enable the acquisition of any digital item (tweet, photo, animation, video, source code, etc.) through the use of a token that materializes the object and verifies its validity.

20 Minutes, always on the watch for new trends, decided to capture this technological revolution by seeking to market its own NFT.

The newspaper stated, “Through this transaction, the newspaper intends to challenge the value of valuable information.” “While 20 Minutes is a free publication, information comes at a cost.”

“The sale of an NFT looks to be a wonderful method to consider this topic while making crypto-arts understandable to the widest possible audience.”

The New York Times, which opted to offer a photograph of a column as an NFT and sold it for $560,000 (€481,143) in March, was the inspiration for the French newspaper.

A winding path

NFTs may be readily transferred over the Internet using specialized platforms like OpenSea or Raible. In France, however, “the digital representation of a work, and intangible personal property, cannot be included in a voluntary public auction,” according to Piasa.

In May, Cappelaere & Prunaux, a small auction house in Bar-le-Duc (eastern France), surprised everyone by holding an “NFT” auction under the supervision of bailiffs, which was legal.

To get around the prohibition on auctioning “intangible personal property,” 20 Minutes sold “an offset printing plate depicting four pages of the supplement” in addition to the NFT.

The sale profits will benefit the International Federation of Journalists (IFJ) Safety Fund, an international organization that assists journalists in distress on the job. “With the Afghan situation, the safety fund is more important than ever,” said the project’s initiator, journalist Laure Beaudonnet.

According to Beaudonnet, the construction of the first NFT was “very difficult.” She had to first build a digital wallet, buy ether (the Ethereum blockchain’s money), and then pay the transaction fees to definitively register the digital “contract,” without forgetting to transfer the copyrights connected with the issue.

“If you’re just starting out, you’ll need to spend a few days, and it’s considerably more complex for a firm,” she adds.

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Are NFT’s Future Of Journalism ?

The IFJ distributes €80,000 across the world every year with the security fund, but only collects €12,000 or €13,000 each year in private and public donations, according to 20 minutes.

After yesterday’s sale, this huge envelope might get much bigger owing to NFTs. Is it, however, a long-term solution?

The publication spoke with Frédéric Chambre, CEO of Piasa, about how this sale might be a first in the media scene.

Chambre said, “There was a reflection, a cooperation, and there is the offset printing plate that comes with the NFT.”

“Perhaps we’re on a page of history rather than a page of art history.” The NFT of 20 Minutes is similar to a manuscript in appearance. When you purchase an Einstein manuscript, you are purchasing history. You’re somewhere in the middle with the 20 Minutes project.”

The key difficulty for the CEO is to channel the NFTs: “The NFT must channel itself.” It will no longer have a unique influence if it shoots off in all directions and seeks to affect everything. It must carve out a position in history.”

“Today, we’re more in an NFT system that supplants the artist.” You’ve made an NFT, but it’s the effort that matters. To make it unique, you employ the technologies associated with the NFT.”

Bitdenex : How to Buy Ethereum & Other Crypto with Bitdenex

It’s simple to purchase Bitcoin on the internet, but what if you want to purchase Ethereum or another cryptocurrency?Trade your crypto now with Bitdenex.

We looked at the step-by-step procedure of buying Bitcoin online using Coinmama the other day. However, cryptocurrency is much more than Bitcoin. In reality, there are more than 4000 currencies included in the cryptocurrency rankings. (Cryptocurrencies other than Bitcoin are referred to as Altcoins or simply “alts,” both of which are abbreviations for “alternative coins.”)

So, why should you purchase Ethereum (or Litecoin, Cardano, or Tezos) when you can just buy Bitcoin? We’ll look at the advantages of altcoins, the altcoins Bitdenex carries, and how to acquire cryptocurrencies like Ethereum or other altcoins in this post.

Why Are Altcoins So Popular?

You’ve probably heard of Bitcoin maximalism, the notion that you should only invest in or acquire Bitcoin. Bitcoin maximalists offer compelling arguments, claiming that investing in any other coin will devalue Bitcoin and compromise its network security. Those are legitimate considerations, but there are more compelling reasons to invest in Ethereum and other altcoins:

Examine the undertaking

While Bitcoin is only a form of payment, many other cryptocurrencies are used to support a project. In reality, several new cryptocurrencies were formed in 2017, and many of them are related to Initial Coin Offerings (ICOs)—fundraising attempts to support particular blockchain projects. Altcoins related to ICOs were commonly referred to as “tokens” and ran on the Ethereum network.

While the bulk of the projects that sprang up during the ICO boom flopped or were, sadly, frauds (and the currencies connected with them are now worthless), a few real players made it through. For example, Ethereum was one of the first ICOs, and the Ethereum token (ETH) was used to fund the Ethereum project’s development.

When you purchase Ethereum, you’re basically investing not just in the coin’s success, but also in the success of all other Ethereum-based projects, such as the hundreds of tokens and decentralized apps that operate on the platform.

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Many other cryptocurrencies, like Cardano, exist today and serve as the foundation for other blockchain initiatives, making them more like a B2B (Business-to-Business) firm than a currency. To put it another way, if you see a coin associated with a concrete project you believe in, think of it like any other firm you could invest in.

Of course, predicting the markets, predicting which altcoins will succeed and which will fail, and predicting how much the Bitcoin or Ethereum price will grow or decline is difficult. As we previously stated, many of the initial coin offerings (ICOs) that were launched in 2017 or 2018 failed or were frauds. Not only that, but altcoin volatility is often considerably higher than Bitcoin’s (which is already a very volatile asset). However, cryptocurrencies as a whole are cheaper than Bitcoin, and you can acquire a lot more of them for the same money.

Ethereum, Litecoin, and more at Bitdenex

So, how do you go about purchasing cryptocurrency? Bitdenex makes purchasing Ethereum and other popular cryptocurrencies simple. Bitdenex carries the following cryptocurrencies as of this writing:

  1. BTC (Bitcoin)
  2. LTC (Litecoin)
  3. XRP (Ripple)
  4. TRX (Tron)
  5. ETH (Ethereum)
  6. USDT (Tether)

Bitdenex: How to Buy Cryptocurrency?

The steps below will show you how to buy Ethereum and other cryptocurrencies online at Bitdenex:

STEP -1 Register for a free Bitdenex account.
STEP -2 Link Your Bank Account.
STEP -3 Start Buying and selling.

The most essential thing to know when buying cryptocurrencies is that various cryptocurrency wallets support different coins, so make sure you give a legitimate wallet address when completing your order. 

At the end of the day, it’s your choice whether to buy Bitcoin, Ethereum, or other altcoins. At Bitdenex, we carry the most popular cryptocurrencies so that you may simply diversify your portfolio. Investing in anything, whether Bitcoin, Ethereum, or other cryptocurrencies, comes with a risk, and only you can decide if that risk is worthwhile. If and when you do decide to buy, Bitdenex is delighted to welcome you to our strong worldwide community.

Drop in Bitcoin Whales is not a bad sign

To end its consolidation period, the price of Bitcoin rose to $ 11,731 on October 12, before falling to $ 11,377, at the time of writing. This decline may be a small adjustment to the market, but this has been the longest time the BTC has retained its position beyond the resistance of $ 11k for a while. The rising value of large digital assets has been linked to another unprecedented trend since 2019.

Bitcoin Whale Views
2020 has seen the number of BTC whales (individuals or entities holding a large amount of BTC), i.e. entities holding at least 1000 BTC, grow steadily. However, the trend was stopped in early September as the number of whales seen in the BTC market declined. This was the first decline since the end of 2019. The onset of the decline in the number of BTC whales has historically raised increased interest from trading investors. A similar trend appeared between 2012 and 2014-15.

However, the fall was slow, and apparently still in its early stage. As per the analysis, the duration of the fall address was followed by an increase in the price of BTC. The current trend may signal the start of another run but the BTC price will have to follow historical trends associated with the collapse of whale recognition in the market.

Growth In Network
At the moment, the foundations in the chain were showing a good show. Emotions in the market have greatly improved. However, stock trading has proven to be a decrease in revenue and a decrease in the number of stable currencies associated with the BTC supply. In addition to these metrics, network activity and network growth have proven momentum due to new businesses joining the network and an increase in the number of jobs in the chain.

Reports show strength in network and if the BTC price follows in previous trends, the market may be at a level of boring rise. Reason to buy Bitcoins now in order to benefit from potentially very interesting price gains in the long term. Buying Bitcoins is very easy via a Bitdenex account, which you can request here completely free of charge. Bitdenex provides an easy platform for customers to trade in crypto currencies. It offers you the opportunity to build your crypto currency portfolio at your own pace and without regular deposit obligations.

Boring ‘Bitcoin’ and Altcoin Price Action By Q1 of 2021

Traders expect this decline for bitcoin and altcoins, especially as BTC’s head rate begins to climb higher.

The value of bitcoin (BTC) has been stagnant for weeks but traders currently expect a slower fourth quarter for top-ranked digital currency. This decline in 2018 and 2019 closed the web negative, injecting a small amount of pessimistic sentiment into the market. Within the near term, this drawback from the bitcoin price may reduce the cost of the coin to any dump. Currently many analysts and tech associates closely watch the boom within the Bitcoin dominance index to warn against a pull in the overall coin market of altcoins.

Have the worst coins already been passed for?
As earlier reported, in the previous period the altcoins and decentralized finance tokens (DeFi) were slumped by 30% and 60%. The price of bitcoin once rose from $9,981 to $11,179 from September 9 to September 19 and during this time, it seems that a take-profit rally was taking place. Analysts believe that bitcoin and stable coins have increased gains from upper coins and DeFI’s.

As such, while bitcoin saw a powerful rise, DeFI tokens declined and altcoins were in a highly stable decline.

As bitcoin was at $11,100 and began to decline from a major resistance level. Within the last fifteen days, the BTC slipped to around 6%, settling slightly on top of $10,500. According to some analysts, the current recession is unlikely to end any time soon.

A tweet from one of the analysts pointed out that crypto markets typically see ‘boring and corrective’ phases during this decline. He predicted that BTC dominance could run upside and this could be good for the alt season in Q1 of 2021.

An anonymous trader, called “Loma” echoes the same sentiment. He said that the last time the coins were reduced to this level, BTC slumped very hard in a short period of time. This time, maximum coins are decreasing while BTC and Ether are comparatively stable on top of their individual support levels. The trader noted: Sales of altcoin are still going on, while Bitcoin is barely moving.

Is there a relief rally on the cards?
Since the beginning of October, a number of negative events have been faced by the cryptocurrency market that could weigh heavily on the minds of investors.

Some traders have suggested that short squeeze could be on the cards as after major events investors expect an increase in volatility.

All in all, traders saw a previously boring quarter of Bitcoin and altcoins, but last month’s massive sell-off could eventually lead to a major relief meeting. One could also be a part of this relief rally. All you need is an account for trading and the registration process is very simple if you use Bitdenex, the process of trading on this platform is handled extremely intuitively. If you don’t have a Bitdenex account yet? You can start here.

Renewables energy is used by over 75% of crypto miners

The use of renewable energy for cryptocurrency mining has seen a smart growth, in step with a new report. The rising energy demand of proof-of-work cryptocurrencies like Bitcoin (BTC) has been a heatedly debated topic. However the third international Cryptoasset Benchmarking Study by the University of Cambridge shows that seventy six of cryptocurrency miners use electricity from renewable energy sources as a part of their power mix. The study found that over thirty ninth of the whole energy consumed by PoW cryptocurrencies together with Bitcoin, Ether (ETH), Bitcoin Cash (BCH) and some other coins as well comes from renewable energy sources. This is in distinction to a previous such study by the university, that found that solely twenty eighth of the whole energy consumed for cryptocurrency mining came from renewable resources. In 2018, around sixty percent of the miners used renewable energy sources as a part of their power mix.

According to the newest study, hydro-electricity power is the commonest supply of energy for miners. Approximately sixty two percent of miners are using hydroelectricity whereas coal takes second spot at thirty eight percent and fossil fuels sources takes thrid sopt at thirty six percent.

Some of the other common energy sources for cryptocurrency miners include wind, oil and solar energy.
The energy consumption is further divided by regions. According to reports, the miners from Asia-Pacific, Europe, Latin America and North America use an equal proportion of electricity power as compared to electricity from alternative sources like coal, fossil fuel, wind and oil.

Energy from coal is commonest within the APAC region, it is reported to be contributing an equal quantity of electricity to miners as electricity sources. Report also shows that no miners from Latin-America use coal-fired electricity for the mining of cryptos.

The report additionally notes that APAC miners contribute approximately seventy seven percent of the Bitcoin hash power however it uses very low amounts of renewable energy sources. And whereas North America adds solely eight percent of the whole hash power, sixty three percent  of the energy consumed in mining Bitcoin came from renewable sources. Europe is merely second to North America with almost thirty percent of its cryptocurrency mining is powered by renewable energy. The region contributes nearly ten percent of the worldwide Bitcoin hash power. With  approximately 76% miners using renewable energy sources to mine, this will surely help to keep the  critics silent on Global Warming related to mining. As the crypto market has made its mark worldwide, Bitdenex provides an easy platform for customers to trade in crypto currencies. It offers you the opportunity to build your crypto currency portfolio at your own pace and without regular deposit obligations. Opening a Bitdenex account is also completely free.

As New investors has stopped buying BTC, Bitcoin’s network health drops

Over the past few days and weeks, with buyers and sellers unable to turn the momentum in any direction, the Bitcoin’s value has been facing some turbulence. Earlier in the week, bull roared after they sent the crypto rallying upped towards $10,800. However, the resistance simply on top of this, price index slowed its ascent, stopping BTC from making to $11,000. Following a brief bout of consolidation, the cryptocurrency eventually began drifting sideways, before facing marketing pressure yesterday that sent its value plunging right down to the lows of $10,500. Although it afterward rebounded from these lows and has been capitalising sideways ever since, it’s necessary to notice that the cryptocurrency’s network health has been declining over the past week. This has turn up thanks to the shortage of recent entrants to the Bitcoin network with its turbulent value action probably hampering its adoption amongst new users and investors. Until there’s additional clarity once it involves the cryptocurrency’s value, it should continue seeing declining elementary strength. Bitcoin’s value action creates air amongst uncertain Investors.

Throughout the past few days and weeks, Bitcoin’s value has been troubled to gain any momentum in either direction. It has principally been consolidating between $10,200 and $11,200, and till one amongst these levels are broken, its outlook remains unclear. It is necessary to notice that this has caused capitalism liquidity on exchanges to trend lower throughout the past week, in line with analytics platform Glass node. “While capitalism liquidity has been minimized thanks to lower exchange deposits, dealing liquidity rose thanks to a rise within the volume of BTC transferred. Until Bitcoin determines its mid-term trend, it should continue observance its liquidity plunge lower.”

Network Health
According to Glass Node, Network Health Declining thanks to Lack of investment for the new users. In their latest weekly update, Glass node explained that Bitcoin’s network health has conjointly been declining over the past week, that primarily stems from weakness in their “network growth” class. “Network Health born from a score of 74 to 64 points over Week thirty-nine, decreasing by 5%. The network growth subcategory lost eight points. Thanks to a decline within the variety of recent users connection the Bitcoin network.

Meanwhile, network activity born by ten points because the variety of BTC transactions conjointly fell.” The sharp plunge seen across new users connection in the Bitcoin network, dealing with volume, and liquidity points to some mounting elementary weakness. This could all cut the shift if the cryptocurrency makes a trend-defining move within the near-term. Being said that Bitcoin is a digital gold, BTC has a long way ahead. The BTC may already have started to recover and soon it may be on its way to another new high of this year. There are several ways to invest or trade in Bitcoin. BITDENEX being one of them, provides an easy platform for customers to trade in crypto currencies. It offers you the opportunity to build your crypto currency portfolio at your own pace and without regular deposit obligations. Opening a Bitdenex account is also completely free.

Before it’s late, banks should develop infrastructure for crypto assets

Their is a rapid adoption of digital assets in traditional systems. Midway through the year, the digital assets industry saw significant progress when the official announcement was made by the the management of currency that all banks employed across the US could offer cryptocurrencies storage services.
This initiative, although effective in the ecosystem, will still be accompanied by rigorous testing of technology infrastructure. One thing is clear, we have introduced a new financial system that needs another way to acquire assets.
Digital assets offer a huge wealth, but warehouse providers have a responsibility to prevent their clients from becoming another global crypto currency hotspot, which reached $ 1.4 billion in June this year.

Banks that keep crypto are a good step in the maturity of digital assets
Banks have a unique opportunity with this initiative to significantly increase the wealth opportunities of millions of people around the world by storing digital assets. They can increase investment or prevent the collapse of the country’s economy.
But they have to do it right; they need to understand how to deal with risks, how to comply with local and international laws, and how to deal with their customers’ assets.
When the deputy commissioner general said in a letter that banks could not hold cryptographic keys, it was clear that the banks were listening. It is a key indicator of sector maturity and that assets are better understood and better utilized.

Traditional banks are pony express – and you have to invest in telegraph wires
The future of finance is fast approaching, and if banks fail to put in place effective security measures, assets are in serious danger.
The traditional financial system and the new financial system will work the same way but with two different systems opening at the same time. We will still call for payments, and investments will still be investments.
Technology has the potential to disrupt it quickly and efficiently – and banks need the right tools. This is a critical time for fintech actors to step up and bring the banks right into their digital assets journey.

In new financial sectors, banks need to understand new needs
If banks go too fast to spend money in a growing space and fail to put in place the right defenses, they can fail. The power of digital assets will be tarnished, and the lifestyles of millions of fiat converts could be lost.
The massive loss of assets in the new digital financial world steals access to cryptographic keys. Investors should learn how to best protect themselves from cyber attacks, which have been rising at a rate of 75% during the COVID-19 outbreak.
The first challenge for banks is to understand how the new industry works, they need to understand the initiation of atomic exchanges and the creation of intelligent agreements. This technology does not play well with the traditional environment.
Many banks have not yet found ways to provide affordable and secure protection against such attacks. Digital assets are at risk if not properly managed, and trained custodians will eliminate the risk of industries failing to complete transactions.

Moving forward without risk to customers
Banks and financial institutions are known for being quick to innovate, but customers should not suffer.
The fintech and crypto space is moving at high speed. Banks need to be empowered to monitor the construction of needed and secure infrastructure.
Solutions need to come quickly. As global markets begin to realize that existing financial infrastructure is at risk of failure, banks should pursue the digital assets industry to protect the future of the financial sector.