ECB Appoints Advisory Group for Digital Euro Project

The European Central Bank ECB has formed a digital euro project advisory committee. It was created with 30 members from various corporate backgrounds and is known as the Digital Euro Market Advisory Group. The council will have a role in how this new digital money is designed, distributed, and valued in the payments ecosystem. In two years, the currency might begin its development phase.

ECB Integrates Digital Euro Advisory Group

The European Central Bank has announced the formation of the Digital Euro Market Advisory Group, an entity that will advise the bank on ways to improve the central bank’s proposed digital currency. In June, the ECB invited parties to show interest in joining the group, and the bank vetted and chose the most experienced candidates. The ECB chose 30 senior business executives from among the applicants.

Members of well-known European financial and economic organisations such as Société Générale, Nordea, Intesa Sanpaolo, Swedbank, La Banque Postale, and Deutsche Bank are among the chosen. The council also includes Roberto Catanzaro of the Nexi Group, a business that started it was involved in the design phases of the digital euro. Starting next month, the organization will hold meetings at least once a quarter.

START TRADING NOW

Fabio Panetta, a member of the ECB’s board of directors, stated:

I am glad that a large number of high-quality private-sector professionals are eager to participate to the digital euro initiative. During the inquiry phase, their experience will aid the integration of prospective users’ and distributors’ perspectives on a digital euro.

Roles and Possible Effect

The advisory group’s 30 members will be tasked with advising the ECB on the plan and how it may be improved to better meet the demands of the Eurozone’s various sectors. The payments sector will be given specific attention, with concerns discovered as a consequence of these working groups being forwarded to the Euro Retail Payments Board, an institutional body dedicated to retail payments.

According to Christine Lagarde, the institution’s president, the Digital Euro is now in the investigating phase. This phase will begin later this month and will last two years. The project will begin its development phases when this phase is completed and there is a definite need for a digital currency, with intentions to release a test trial throughout Europe.

Why Ethereum Outperforms Bitcoin and Could Rally To New All-Time Highs

In terms of the US Dollar, Ethereum has risen beyond $4,175 for the first time. If there is a clear break over $4,300 in the near term, ETH might gain value.

Ethereum managed to break over the $4,175 and $4,200 resistance levels.
The rate is presently trading over $4,200 and the basic moving average of 100 hours.

On the hourly chart of ETH/USD, a substantial increasing channel is formed with support at $4,175 (information feed by means of Kraken).
If the set clears the $4,300 and $4,320 resistance levels, it might prolong its rally.

The price of Ethereum may continue to rise

After settling over the $4,050 mark, Ethereum saw a new surge. ETH was able to break over the $4,750 resistance zone as well as the 100 hourly basic moving average.

The price of ether even rose beyond the $4,250 barrier level. Near $4,313 a high was made, and the rate is presently combining gains. It traded below the $4,300 mark on the stock exchange. The cost of immediate assistance is around $4,260. The mentioned level is close to the upward wave’s 23.6 percent Fib retracement level from the $4,091 swing low to $4,313 high.

On the per hour chart of ETH/USD, a substantial increasing channel is forming with support at $4,175 as well. Near the $4,300 mark, there is immediate pushback on the advantage.

The next important obstacle is at $4,320, over which the rate may resume its upward trend. In the aforementioned scenario, the rate may rise to $4,400. Any further rises might push the rate closer to $4,550.

Are Dips Accepted in ETH?

If ethereum fails to move upward over the $4,300 and $4,320 resistance levels, a new downward correction might commence. The cost of preliminary help for the disadvantage is around $4,260.

The initial level of major support is around $4,200. It’s close to the 50% Fib retracement level of the rising wave from the swing low of $4,091 to the high of $4,313. The main help is around $4,175 and the channel pattern line. Any additional disadvantages might push the rate up to $4,050 in aid. The bulls’ next important support is approaching the $4,000 mark.

Indicators of Technical Excellence

The MACD for ETH/USD is in the positive zone on an hourly basis.

RSI on an hourly basis — The RSI for ETH/USD is presently far over 50.

$4,175 is the Major Support Level.

$4,320 is the major resistance level.

Tethers are being tested as a way to comply with the FATF’s travel rule


Tether, the firm behind one of the most popular stablecoins in the crypto market, has stated that it would begin testing a system that will allow it to comply with the Financial Action Task Force (FATF) travel regulation. Tether will be able to seamlessly exchange trip rule data across Virtual Asset Service Providers using the system supplied by Notabene, a firm that provides ID and travels rule compliance solutions (VASPs)

Compliance Solution with Tether Eyes

Tether, the business behind the most valuable stable coin in the cryptocurrency market, USDT, will trial a solution that will allow it to comply with the Financial Action Task Force’s proposed travel regulation. This information will be communicated between VASPs using the solution that will be evaluated, offered by Notabene, a software business that provides compliance solutions.


Tether’s efforts are aimed at preventing bad actors from utilizing USDT to transport funds from or to unlawful sources. This approach intends to make tether (USDT) more friendly to law enforcement agencies all across the world, as well as safer for users that utilize Tether’s stable coin in transactions.

TRADE NOW WITH LOW TRADING FEES

Tether’s CCO, Leonardo Real, stated :

It’s critical that we collaborate with other significant VASPs to start from the ground up and establish this sector. We are committed to not just following but also shaping new rules as pioneers of blockchain technology and leaders in transparency.

FATF’s Travel Rule

The FATF’s travel rule, which was proposed to be implemented by VASPs in the same way that it is now enforced for traditional financial institutions, states that the information of both parties involved in a transaction must be shared by the institutions facilitating it in order to assist in the prevention of money laundering and terrorist financing. However, because of the pseudonymous nature of bitcoin transactions, implementing this regulation has proven challenging.

Tether intends to incorporate Notabene’s technology after successfully testing it in order to have better monitoring over USDT transactions. Tether’s transparency page indicates that there are about 70,687,988,377 tethers in circulation at the time of writing.

Elon Musk Talks About Important Dogecoin Upgrades

Elon Musk, the CEO of Tesla, has revealed what he considers to be the most significant dogecoin enhancements. He also stated that he has no ties to the Dogecoin Foundation and that he would not be investing in the Shiba Inu (SHIB) cryptocurrency. Musk revealed that he only had three cryptocurrencies in his possession.

Elon Musk on Shiba Inu Token, Dogecoin Improvements

Elon Musk, the CEO of Tesla and SpaceX, tweeted multiple times on Sunday about cryptocurrencies, bitcoin, dogecoin, and the Shiba Inu token.

He was asked if he had any recent discussions with the Doge development team in regards to Dogecoin’s upgrades. Musk said that he hadn’t spoken to them in a while and said:

What counts, in my opinion, are reduced costs, shorter block times, and larger blocks. The simplest option for a medium of trade appears to be a single-layer network with exchanges as de facto layer 2.

Billy Markus, a co-creator of Dogecoin, weighed in on Musk’s Doge upgrade tweet. “Dogecoin being quick, scalable, and economical to transport around is all it needs to be,” he said, adding, “it doesn’t need to be yet another blockchain that supports NFTs or other tokens or anything.” Musk responded with a sign for “hundred points.”

Musk also answered another Doge fan who questioned, “Do you believe if Dogecoin achieves the goals you set forth here, it may be more practical and efficient as a means of trade than something like the Lightning Network?”

TRADE NOW WITH LOW TRADING FEES

“Perhaps,” said the Tesla executive. Bitcoin was created at a period when bandwidth was limited and latency was significant. We will reach a stage where no second layer is required if both continue to develop significantly.”

“The community for doge is the strongest when it comes to utilizing it as a medium of trade,” Musk said in August, agreeing with Mark Cuban, the billionaire owner of the NBA franchise Dallas Mavericks.

In response to a message on Twitter that stated: “Jared Birchall represents Elon Musk, although as all advisors, he has no direct voting rights,” Musk reiterated Sunday that he had no involvement with the Dogecoin Foundation. This ensures that the foundation remains self-sufficient while benefiting from the experience of shibes like Elon.” The CEO of SpaceX wrote:

This charity has nothing to do with Jared, me, or anybody else I know

In August, the Dogecoin Foundation restarted. Jared Birchall is listed as one of the company’s four board advisors on its website, where he is described as Musk’s “legal & financial advisor.” Markus and Vitalik Buterin, the founder of Ethereum, is also board advisors.

Musk was asked how many Shiba Inu (SHIB) he has in his possession. “None,” the Tesla techno king simply said.

Musk was asked if he owned any other cryptocurrencies outside SHIB, including FLOKI, the coin named after his Shiba Inu puppy.

Musk revealed that he just owns bitcoin, ether, and dogecoin, rather than reacting to each coin individually. “I got several ASCII hash strings dubbed ‘Bitcoin, Ethereum, and Doge’ out of curiosity.” “That’s it,” he stated emphatically. “As I’ve mentioned previously, don’t put all your eggs in the crypto basket. Building things and offering services to your fellow humans, not money in any form, is true worth.”

Crypto fund inflows hit a new high of $1.5 billion

According to a study released on Monday, investors poured a record $1.47 billion into digital asset investment products last week, propelled by a surge in cryptocurrencies and the introduction of the first bitcoin futures exchange-traded fund.

Last week, Bitcoin (BTC), the world’s most valuable cryptocurrency by market capitalization, soared to an all-time high of $66,974.

In February, inflows totaled $640 million, setting a new weekly high. The inflows into crypto funds over the last week have brought the year-to-date total to $8 billion.

Bitcoin-focused funds dominated last week’s inflows, accounting for 99 percent of all cryptocurrency fund inflows. Inflows into bitcoin-focused funds totaled $70 million in the previous week.

According to the report, “this is a direct effect of the US Securities and Exchange Commission (SEC) approving a bitcoin ETF to invest in futures and the subsequent listing of two bitcoin investment products.”

The SEC authorized the ProShares Bitcoin Strategy ETF, the first bitcoin futures ETF, on October 15, pushing bitcoin’s price above $60,000 for the first time in six months.

The ProShares ETF, which trades under the ticker name BITO, debuted on the New York Stock Exchange on October 19th.

Ether fund flows

On Oct. 21, Ether (ETH), the native cryptocurrency of the Ethereum blockchain, the world’s second-largest, also hit an all-time high of $4,361.

Despite the fact that the price of Ethereum increased, funds focusing on the cryptocurrency witnessed outflows for the third week in a row. According to bitdenex, outflows from ether-focused ETFs totaled $1.4 million last week.

“As the price approaches all-time highs, this is small profit-taking,” the report stated.

Solana (SOL) received $8.1 million in inflows, Cardano’s ADA currency received $5.3 million, and Binance coin (BNB) received $1.8 million.

Reddit Seeks Senior Engineer for platform that features “NFT-Backed Digital Goods”

Reddit, American social news aggregation and discussion website, posted a job opening for a senior backend developer for a non-fungible token (NFT) platform on Friday. The new job would work as part of Reddit’s development team, “designing, building, and shipping backend services enabling millions of users to make buy, trade, and utilize NFT-backed digital commodities.”

A Senior Engineer is needed for a possible NFT platform, according to a job posting on Reddit

Reddit appears to be working on a non-fungible token (NFT) component for its platform, which, based on a recent job description, appears to be a marketplace. According to the freshly posted job advertisement, Reddit is looking for a “senior backend engineer” for their “NFT platform.”

By utilizing Ethereum and Arbitrum, Reddit has previously dabbled in cryptocurrency and blockchain technologies. The firm’s community points system differs from the job posting for a new engineer devoted to NFT technology.

According to Reddit’s job posting, “If there’s one thing we’ve found with NFTs, they, too, have an unbelievable potential to engender a sense of engagement and belonging.” “With each new NFT project, a thriving community of owners emerges. Fans of today’s largest creators and businesses are flocking to buy digital items directly from them in order to support them, receive unique access, and feel a closer bond with them.”

START TRADING NOW

The following is taken from the company’s job posting:

We anticipate that this trend will continue and that NFTs will play an increasingly important part in how people support their favorite creators and communities.

‘Experience With Crypto / NFTs / Go Not Required’ on Reddit

While there are some qualifications in the job description, such as over five years of backend development expertise, knowledge with cryptocurrencies, NFTs, and the programming language Go is “not necessary.”

The backend, on the other hand, will undoubtedly be devoted to non-fungible token (NFT) services. According to Reddit’s description, the new senior backend engineer will “design, construct, and ship backend services enabling millions of users to make, buy, sell, and utilize NFT-backed digital commodities.”

Furthermore, according to the Reddit job posting, the firm is adaptable in light of the epidemic, and the job may be done from anywhere.

Thailand’s Prime Minister issues a cautionary warning to investors

Thailand’s prime minister has warned investors against investing in cryptocurrencies, stating that they are very volatile and speculative. Interest in cryptocurrencies has recently risen as young investors in the nation learned that investing in cryptocurrencies allowed them to gain money rapidly.

Thailand’s prime minister Warns About Crypto Investing

Prime Minister Prayuth Chan-Ocha, according to Ratchada Thanadirek, deputy spokesperson for the Thai Prime Minister’s Office, is concerned about individuals investing in cryptocurrencies, particularly young ones.

The prime minister issued the warning after learning that Thai workers are flocking to invest in cryptocurrency because of the high profits in a short period of time.

The prime minister, on the other hand, cautioned investors to weigh the dangers of investing in this asset class. He pointed out that cryptocurrencies have no foundations, are highly speculative, and are extremely volatile.

He also advised parents to exercise caution when setting trading accounts for their children, noting that minors should be properly supervised when investing.

START TRADING NOW

He also advised parents to exercise caution when setting trading accounts for their children, noting that minors should be properly supervised when investing.

In addition, the prime minister advised investors to be aware of the dangers involved in investing and to be willing to take any losses. Before making a choice, they should conduct some studies and thoroughly analyze their options. Most importantly, customers should not be duped by marketing hype and should choose a service provider who is registered with the Securities and Exchange Commission of the nation (SEC).

“Assess if you can tolerate the hazards that may emerge, including verifying the legitimacy of the service provider.” “Don’t be deceived by any company’s marketing encouraging you to invest in digital assets,” she said.

According to the Thai Securities and Exchange Commission, there are currently 1.49 million digital asset trading accounts, 311,000 of which are active, with an average daily trading value of 6.6 billion baht ($198 million). Approximately 3% of traders are under the age of 20, while approximately 47% are under the age of 30.

Meanwhile, the number of investment services organizations has exploded, with some of them operating without a license in the nation. The prime minister also cautioned the general public and crypto investors to be cautious while utilizing unregistered services since they are not protected by legislation.

Twitter CEO Jack Dorsey warns that hyperinflation will strike the United States and the rest of the world soon

Jack Dorsey, the CEO of Twitter and Square, has warned that hyperinflation is on the way in the United States and across the world. “Everything is going to change because of hyperinflation.” “It’s going to happen,” he prophesied. Many individuals, however, disagreed with him.

According to Twitter CEO Jack Dorsey, the United States will soon experience hyperinflation

Jack Dorsey, the CEO of Twitter and Square Inc., issued a warning about hyperinflation in the United States on Friday. “Everything is going to change because of hyperinflation.” He wrote, “It’s occurring.”

His tweet was swamped with responses. It has received more than 7K comments and had been liked 70.1K times and retweeted 22.9K times at the time of writing. “It will happen in the US shortly, and so will the globe,” Dorsey added in a follow-up tweet.

The Twitter CEO’s statement came as consumer price inflation in the United States approached a 30-year high, raising fears that the crisis might be worse than officials anticipated. Inflationary pressures “are likely to endure longer than originally predicted,” according to Federal Reserve Chairman Jerome Powell, and might last “far into next year.”

The Twins Many individuals, however, disagreed with the Twitter CEO’s prediction that hyperinflation will occur in the United States. “Hyperinflation is not happening in the United States,” said Patrick Horan, program manager for monetary policy at George Mason University’s Mercatus Center. “What’s happening is increased inflation, not hyperinflation,” said Lawrence White, an economics professor at the same university (except in Venezuela). It’s a shame that Jack can’t alter his tweet on Twitter.”

TRADE NOW FOR LOW TRADING FEES

“I went through true hyperinflation in Ukraine in the early 1990s,” said Daniel Drezner, a professor at Tufts University’s Fletcher School. “This ain’t it, mate,” says the narrator.

Steve Hanke, a bitcoin critic who claims to be an authority on inflation and hyperinflation, has this to say:

In the history of the globe, there have been 62 verified hyperinflations. No country is currently facing hyperinflation. Jack should know better than to make public remarks that are irresponsible.

While many users on Twitter disagreed with Hanke’s comments, Dorsey merely responded with an emoji of “rolling on the floor laughing.”

“Thank God for bitcoin,” other users tweeted in response to Dorsey’s warning, stressing that BTC will surely become the world’s reserve currency.

The Human Rights Foundation’s chief strategic officer, Alex Gladstein, responded to Dorsey’s hyperinflation tweet:

Those who were astonished by this tweet live in a bubble of wealth. Turkey, Nigeria, Ethiopia, Iran, Lebanon, Venezuela, Cuba, Sudan, and more countries have double, triple, even quadruple-digit inflation. It has already become one of the world’s most serious humanitarian disasters.

Those who were astonished by this tweet live in a bubble of wealth. Turkey, Nigeria, Ethiopia, Iran, Lebanon, Venezuela, Cuba, Sudan, and more countries have double, triple, even quadruple-digit inflation. It has already become one of the world’s most serious humanitarian disasters.

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.

INVEST NOW WITH THE MOST TRUSTED CRYPTO EXCHANGE

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.

START TRADING NOW

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.

TRADE NOW WITH LOW TRADING FEES

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!