Janet Yellen, the U.S. President’s pick for Treasury Secretary, seems to be showing the belief in digital assets and especially cryptocurrency. Her recently published statement on cryptocurrency seems to be quite different from the one that she has given before.
On Tuesday, January 19, 2020, Janet Yellen mentioned that cryptocurrency is a growing concern for the country, ahead of the U.S. Senate Finance Committee. She also said that cryptocurrency was majorly meant for illicit financing and the U.S. needs to find out measures to reduce the use of cryptocurrency across the country.
Janet Yellen Seems to Support Crypto in Her Written Statement
Even though Janet Yellen sounds extremely bearish about cryptocurrency during the Senate Finance Committee, her recent written statement says quite opposite. Yellen has mentioned that she is looking forward to increasing the use of crypto assets for legitimate activities. She mentioned:
“I think it important we consider the benefits of cryptocurrencies and other digital assets, and the potential they have to improve the efficiency of the financial system.”
However, she still believes that it is necessary to reduce the use of crypto and other digital assets as much as possible for malign and illegal activities.
Hoping to Make US the Leader in Digital Assets
Janet Yellen has said that she is hoping to make the U.S. a leader in digital assets and other financial technology areas. She also emphasized the need of developing a better regulatory framework and will help the regulators to do that. Even though Yellen has not been confirmed to become the Treasury Secretary yet, it is expected that the Senate Finance Committee will be voting for her only. If everything goes in her favor, she will become the first women Treasury Secretary of the U.S. Moreover, the crypto industry seems to be quite hopeful of the Biden administration and believes that it will prove beneficial for this sector.
How Bexplus Apps Make Trading Crypto Futures Easier
Due to the ongoing lockdown, many of us get to stay home more often. While this is a good opportunity for us to relax, we can’t go to work and have to rely on our savings, which is frustrating and worrisome. If you have been wanting to find a way to make money during lockdowns […]
Due to the ongoing lockdown, many of us get to stay home more often. While this is a good opportunity for us to relax, we can’t go to work and have to rely on our savings, which is frustrating and worrisome.
If you have been wanting to find a way to make money during lockdowns or in your spare time, online trading on your phone may be a great option for you. Crypto exchanges make trading more accessible to small investors with little experience or low budgets. This is especially true for futures trading, in which investors could borrow leverage from exchanges to increase their buy power.
If you are interested in futures trading in the crypto market but aren’t familiar with the markets, you can learn a great deal about how to get started here. Simply put, futures trading enables you to profit from the ups and downs of the market, so any price swing could be an opportunity to profit.
To get started trading, you only need to create an account on an exchange and now with easy-to-use phone apps like Bexplus‘, you can set up your account in minutes from nearly anywhere. Bexplus is a cryptocurrency trading platform providing 100x leverage on BTC, ETH, LOS, XRP and EOS. No KYC and no deposit fee, Bexplus offers services in 37 countries including the USA, Iran, Korea, and Sudan.
According to App Annie, the largest mobile marketing app analytics and app market database in the world, as of May 2020 Bexplus’s apps have been ranked in the Top 5 of keyword search results related to bitcoin trading in 56 countries.
Let’s take a look at the Bexplus app to see what advantages it offers.
On the home menu tab, besides market indexes (there are bitcoin, litecoin, and ether prices on the main display), we see constantly updating recent trades lists (which might show you the market sentiment and to open the correct position).
Also, Bexplus is famous for its detailed beginner’s guide and demo account, which enables you to practice as much as you like.
The market tab offers 5 types of indicators which are available for the main chart and 11 for sub chart. Among the indicators are a bullish-bearish indicator, Bollinger bands, moving average convergence divergence, stochastic oscillator, and many more. No matter whether you’re a beginner or an advanced trader, Bexplus accumulates all the options needed for daily trading.
The market menu tab allows you to open long (buy/up) and short (sell/down) positions: before placing an order you’ll be asked to choose the position volume. Keep in mind that volume doesn’t refer to position amount, it’s rather a proportion of position size to your account balance, thus, 0.1 volume doesn’t suppose that you’re about to open a 0.1 BTC position, it will be just 0.001 BTC in size.
The trade tab is basically an order management menu, where traders can browse currently opened market orders, limit orders, and trading history.
The indexes for each trade include floating profit and loss, the free margin available, currently used margin, margin level, and your balance account as for now with opened positions (net worth).
Bexplus also offers standard risk prevention instruments such as stop-loss, which is available by pressing on the specific order tab in the trades list.
Though looking quite simple, the Bexplus app is as full-featured as its desktop counterpart. Besides trading, you can store your bitcoin in the interest-bearing wallet, in which you can gain up to 30% annualized interest.
Bitcoin trades around the clock and huge price swings could occur any minute. If you hope to monitor your account anytime and anywhere, the Bexplus app is the right tool for you. With the 24/7 notification, you can stay updated with the market. All data and assets can be accessed through all kinds of devices including desktops, mobile phones, and tablets.
Disclaimer. This is a paid press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Cryptopolitan.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release.
EIP-1559 get the nod for Ethereum’s London Hardfork
TL;DR Breakdown With complete official backing secured, the Ethereum Improvement Proposal (EIP)- 1559 looks certain to be included in the forthcoming London Hardfork scheduled for July. However, while the development has been largely welcomed among developers and the users (who are the core stakeholders), there is a growing negative perception among Etheruem miners towards the […]
With complete official backing secured, the Ethereum Improvement Proposal (EIP)- 1559 looks certain to be included in the forthcoming London Hardfork scheduled for July. However, while the development has been largely welcomed among developers and the users (who are the core stakeholders), there is a growing negative perception among Etheruem miners towards the proposal.
But Etheruem miners are the only ones in the opposition quarters. Mining pools participants together with hash power producers have met the initiative with equal reservations.
EIP-1559 prompted by high trx fees on ERC-20 networks
According to the developers, the proposal was formulated to specifically address the current situation where users are forced to commit unreasonably high percentage of transaction value as gas fees, before funds can be successfully sent. However, when the EIP-1559 is finally implemented, all of that would change.
Users only need to register their transaction by releasing a gas fee, which the network picks and automatically assigns to a miner who in turn inherits the obligation to process the transaction, while keeping the gas fee as the incentive.
The situation is even worse in the DeFi ecosystem, where the minimum amount required to execute trade swaps hovers around $4. That added with the scalability problem of Etheruem network has forced many DeFi projects to explore alternative blockchain networks.
Miners’ revenue to be greatly affected
There are justifiable reasons why miners are all weary over the EIP-1559 initiative. From the onset of the current gas fee problem, daily records of profitability in miners’ revenue are being recorded, with the day-to-day average running into millions of dollars.
It is forecasted that the successful implementation of EIP-1559 will cause a 20%-30% reduction in miners’ earnings. Some observers have voiced concerns over the fact that miners might initiates a different hard-fork of the network to counter the impacts of the proposal.
However it is generally believed that majority of miners won’t take that route as it could negatively affect the price of etheruem, thus plunging their earning deeper down the slope.
Three decades into the internet, we are faced with three fundamental realities: content creation rules the internet value flows primarily to centralized platforms platform censorship is on the rise Non-fungible tokens address the challenges presented by these realities. With non-fungible tokens, internet creators are given a mechanism to truly own their creations. NFTs are unique […]
Over time, we see NFTs expanding in two ways. First, is traditional products that use NFTs as a distribution channel and a new economic model. For example, NFTs can be used to retroactively distribute tokens to communities, as a way to reward early support. Tokens will be used to incentivize access, attention and user behavior. A few creators to embrace NFTs include Beeple the artist, Logan Paul the YouTuber and the NBA.
The second is the creation of digitally native experiences, centered on issuing, exchange, and using digital assets. These digitally native experiences may span games, music, art, writing and more. The potential is enormous. NFTs may become a key form of value capture on the internet, enabling consumer use cases we’ve never even imagined.
For a broader intro to the consumer opportunity, we recently created an intro presentation you can find here