Social trading can be described as those activities that engage or facilitate interactions among traders to strengthen the crypto community. On the other hand, copy trading is an element of social trading that allows users to mimic the trading patterns of other traders, in particular, experienced or professional traders. As industry players and professionals in the cryptocurrency and blockchain space, it’s helpful to understand why these terms are different and how they are similar. Not only will we better understand these concepts but it also makes it easier when explaining…
Day: September 4, 2020
Brazil Working on Launching CBDC by 2022
The Central Bank Digital Currency (CBDC) is the digital form of fiat. According to the president of Brazil’s Central Bank, Central Bank Digital Currency (CBDC) may be integrated into the financial system by 2022. According to Roberto Campos Neto, the president of the Central Bank of Brazil, Brazilians will probably see the idea of having a Central Bank Digital Currency (CBDC) in full flesh before 2022 ends. This came as a surprise as the country recently started studying the possibility of introducing the CBDC without any conflict with the traditional system.…
Bitcoin Will Be Accepted for Tax Payments in Swiss Canton Zug Next Year
Bitcoin and ether can be used to pay taxes in the Swiss Canton of Zug starting next tax season. Zug’s crypto valley is home to many cryptocurrency businesses, and by accepting bitcoin and ether for tax payments, the canton aims to “promote and simplify the use of cryptocurrencies in everyday life.” Pay Taxes With Bitcoin Switzerland’s Canton of Zug announced Thursday that it will start accepting cryptocurrency for tax payments. The Zug Department of Finance is collaborating with local company Bitcoin Suisse to offer tax settlement with cryptocurrencies, starting in…
Apple Has Its Worst Day of Trading Since Its Loss in March
For the past few days, Apple has been declining as it had its worst trading day since mid-March. AAPL is currently down 1.35% in pre-market trading. Apple Inc (NASDAQ: AAPL) had its worst trading day since March as the stock declined 8% on Thursday. Since the stock started dropping on Tuesday, the multinational technology company has lost over 3%. Before now, Apple’s stock had its worst-performing day on the 16th of March when it plunged 12.9%. Apart from recent losses in the last five days, Apple has been surging for…
First Mover: Buying Bitcoin’s Dip, Betting Against Tether and Weighing the Jobs Report
You’re reading First Mover, CoinDesk’s daily markets newsletter. Assembled by the CoinDesk Markets Team and edited by Bradley Keoun, First Mover starts your day with the most up-to-date sentiment around crypto markets, which of course never close, putting in context every wild swing in bitcoin and more. We follow the money so you don’t have to. You can subscribe here. HOLIDAY NOTICE: First Mover will publish next on Tuesday, Sept. 8. Happy Labor Day to our U.S. readers. Price Point Bitcoin (BTC) was up in early trading to $10,500, rebounding after Thursday’s 11%…
Don’t panic? ‘Smart money’ whales are waiting to buy Bitcoin at $8,800
The price of Bitcoin (BTC) abruptly declined by 10% in a single day on Sep. 4. Following the dip, the sentiment around the cryptocurrency market has become noticeably cautious with the Cryptocurrency Fear & Greed Index flashing “fear” for the first time since July. A massive Bitcoin buy order at $8,800 on Bitfinex. Source: Cole Garner However, market data shows that whales are preparing to purchase Bitcoin at $8,800 support level. It indicates that a March 13-like drop is unlikely to happen, when BTC dropped to as low as $3,600.…
CELO Breaks Five-Day Losing Streak With a 30% Rebound; What’s Next
CELO was among the few cryptocurrencies that posted gains in the last 24 hours. The 34th-largest crypto token surged by 30 percent to hit $4.60, its highest level in more than a week. Traders jumped in to the CELO market after Coinbase Pro, a US-based cryptocurrency company, listed its trading instruments on its trading platform. Coinbase said in its Thursday blog post that its customers can now buy, sell, convert, send, receive, or store CGLD (it is the same ticker as CELO) across all its supported regions. The announcement opened…
Binance Bolsters DeFi Presence with Binance Liquid Swap
The Binance Liquid Swap platform is an automated market maker (AMM) pool product and hosts different pools of liquidity that allow its users to exchange crypto assets. Major cryptocurrency exchange Binance has bolstered its presence in the decentralized finance world with the launch of Binance Liquid Swap. The Binance Liquid Swap product is a token swapping liquidity platform, offering an improved exchange model to foster more earnings from users. Through Binance Liquid Swap, users can pool their tokens to provide the liquidity for which they can earn rewards as well…
All Eyes on USDCAD, GBPUSD as Important Data Is Being Released Today
USDCAD touched a very important support level at 1.29950, though was not able to break the dynamic resistance yet. US Non-farm payrolls data are expected to show improvement in August, forecasted 1,400K vs the July’s 1,763K. FOMC targeted goals on unemployment are as well showing upturn, whereas Employment change in Canada as per August expected to be 1,200K which is 262K lower than July’s 1,462. Canada Ivey PMI is expected to decline slightly in August 57.5 versus the previous 68.5, hence the support could result in a short-term trend reversal.…
How Can Cryptocurrency Users Protect Themselves in the Face of Malware Attacks that Grow More Prolific?
Hacker attacks on cryptocurrencies are continuing to gain more and more momentum recently. Over the past few days, news of a recently discovered malware called KryptoCibule has been actively spreading on the net. Researchers at cybersecurity firm ESET who discovered the malicious agent have called it a “triple threat” for cryptocurrencies, due to how it functions. The malware installs an app and uses the victim’s hardware resources to mine coins, tries to directly hijack wallet files as well as replace the wallet address in the clipboard in order to hack…