PayPal Unveiled Plans to Enable the Purchase and Sale of Cryptocurrencies
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- Novogratz calls PayPal’s Bitcoin news 'the shot heard around the world on Wall Street’ - Cointelegraph
By Yassine Elmandjra | @yassineARK
Analyst
PayPal and its subsidiary Venmo have announced plans to enable cryptocurrency purchases. Within the next few weeks, users of Paypal’s Cash or Cash Plus will be able to buy, sell, and hold bitcoin, ether, litecoin, and bitcoin cash.
In June, CoinDesk surfaced rumors of PayPal’s crypto plans, suggesting that its 346 million users around the world would be able to buy and sell cryptocurrencies.
Next year, PayPal plans to enable crypto purchases through its network of more than 26 million merchants and through Venmo, its P2P payments app. According to its FAQ, “Once launched in 2021, when a consumer selects cryptocurrency as the funding source, the cryptocurrency will be instantly converted to fiat currency and the transaction will be settled with the PayPal merchants in fiat currency.” PayPal has not disclosed when or if it will enable cryptocurrency withdrawals, a cause for concern for the crypto community.
With 346 million active users around the world, PayPal will be the first network capable of introducing crypto to a mainstream audience.
4 Cryptocurrency trading charts to trade smart on the Mainbloq
We have a lot of data here at Mainbloq and we believe that the more data we can supply to our customers the better decisions they can make when they trade. Today we’re thrilled the release some of that data to EVERYONE with Mainbloq Charts.
Our charts showcase some of the data we have as actionable information. Mainbloq is an all-in-one platform for digital assets providing a suite of tools to consolidate real-time data across multiple venues, and to translate data into information and algorithms for best execution of user-defined trading strategies.
Read below to see descriptions of the charts we have available for your use. To see our charts go to https://mainbloq.io/charts/
Order Book Live View
With this chart you can see where market depth is currently quoted. The venues are color coded and displayed in pie charts for bids and asks, as well as a depth chart. All prices are normalized to the “stable price”, which accounts for the exchange rate of the stable coins.
How to use it:
- Enter Currency Pair and press go
- Use mouse to zoom in Combined Depth (you can reset zoom)
Historic Volatility Explorer
With this chart you can explore the historic volatility of an asset. Volatility is an important measure to inform trading decisions indicating the potential price variability over time.
See the trends in historic volatility alongside price movements. Recalculate the Historic Volatility with differently sized dolling windows to smooth or enhance details.
How to use it:
- Adjust Slider to re-scale rolling window of calculating volatility
- Switch between Log and Linear Scales
- Pan with Date Range selector at bottom to Zoom to area of interest
Volatility Distribution
With this chart you can explore how volatility is distributed. We take the daily historical volatility distribution, compared with Kernel density and the normal distribution.
How to use it:
Slide the time window to see how volatility has been decreasing over the years, in crypto.
Volatility by hour
With this chart you can explore the volatility of an asset by hour in the day.
Time is based on UTC (London) and it looks at last 10 weeks of data (more data is available with subscription)
How to use it:
Red line = mean
Box top/bottom = 1 standard deviation
Tails = 2 standard deviations
Dots = outliers (capped at 300%)
Erisx Launches Regulated Bitcoin Futures Market BTC $BTC
Crypto trading platform Erisx has launched a bitcoin futures market regulated by the U.S. Commodity Futures Trading Commission (CFTC). Its physically-settled bitcoin futures contracts trade alongside its spot market which supports four cryptocurrencies. Erisx has obtained a license from the U.S. Financial Crimes Enforcement Network (FinCEN) and is currently approved to operate in 44 states, with a plan to expand to 53 states and U.S. territories.
Article Published on Bitcoin.com
Physically Settled, Regulated Bitcoin Futures
Erisx announced on Tuesday the launch of its regulated bitcoin futures market. The platform’s physically-settled bitcoin futures contracts are offered alongside its spot market for “price transparency and collateral efficiency,” the company detailed. Initially, only monthly and quarterly contracts are offered.
Since the contracts are physically settled, “settlement will be made by the movement of the digital currency to the buyer of the futures contract and US dollars to the seller of the contract,” Erisx’s website describes. The current requirement to become a member of the platform is a minimum balance of $10,000.
Erisx’s current futures product.
Prior to Tuesday’s launch, the company ramped up its team and developed technology for its exchange’s matching engine (TME) and clearinghouse’s clearing system (TCS). The company also developed risk-mitigating functionality to enable efficient price discovery such as self-match prevention, price banding, and maximum order sizes. Its futures clearing platform was built from scratch. Currently, Erisx’s spot trading platform supports BTC, BCH, ETH, and LTC, which can be traded against the USD or BTC >> READ MORE
Announcing LiveView: Look into the top of book for any crypto currency pair across all of the major exchanges
Announcing LiveView by Mainbloq: your live view into the crypto markets. We built LiveView to demonstrate to our clients the power of our technology, now we're giving it to anyone with a web browser: www.mainbloq.io/liveview
We're always building new technology for our clients—you may have read about our Smart Order Router and Trading Algorithms in previous articles—but today we're releasing something for EVERYONE.
What's in LiveView:
- An insider's look into the top of book for any currency pair across all of the major exchanges and their liquidity pools.
- See total volume and liquidity for currency pairs across exchange in real-time.
- Identify price differences between exchanges to see where to get the best price.
- A real-time calculation of stable rates normalized to give the true best price.
So what can you do with LiveView? You can trade smarter. That's what we're all about at Mainbloq, we give you the tools to make better trading decisions.
The one thing that we see as most salient is if you are only executing on one exchange you are leaving money on the table. To make the most efficient trades you need to execute cross-exchange.
One thing you can't do from LiveView is trade. If you're looking to trade smarter in real-time contact us here: https://mainbloq.io/contact/
About Mainbloq
Mainbloq is a data, research, and technology company focusing on blockchain and digital assets. Mainbloq offers a cloud-based, modular platform including a smart order router, suite of trading algorithms, the ability for clients to integrate their own algorithms, and consulting services to help clients execute on their trading strategies. Mainbloq is building the best-in-class platform for researching and trading digital assets. For more information visit https://mainbloq.io/
Crypto Analysis - Litecoin Price Running Out of Gas After Rally
Get Exclusive Analysis and Investing Ideas of Future Assets on Hacked.com. Join the community today and get up to $400 in discount by using the code: "CCN+Hacked". Sign up here.
By CCN: The litecoin price has been one of the cryptocurrency market’s top performers in 2019, climbing a ridiculous 162 percent since the new year.
Among large-cap cryptoassets, only binance coin has performed better, and litecoin’s year-to-date rally leaves the bitcoin price’s 40 percent advance in the dust. However, one team of crypto analysts says the sixth-largest cryptocurrency looks poised for a sell-off.
Litecoin Price Likely to Crash Through Support – And That’s OK!
Writing in a note to clients on Wednesday, crypto brokerage BitOoda said that a downward wedge has begun to form on the litecoin chart, suggesting that the cryptocurrency could be on the verge of a short-term breakdown. That sell-off would likely cause the litecoin price – which currently holds near...
Coinbase Confirms Extent of $255 Million Crypto Insurance Coverage
Coinbase has revealed the details of its insurance arrangements for cryptocurrency held on customers’ behalf, a rare move in an opaque market.
In a blog post published Tuesday, Philip Martin the exchange’s vice president of security, confirmed that it is covered for up to $255 million for coins held in so-called hot wallets – in other words, assets which are essentially online and open to potential hacks. CoinDesk first reported in November that Coinbase’s coverage was in this ballpark.
San Francisco-based Coinbase holds less than 2 percent of customers’ assets in hot wallets, with the remaining 98 percent at arm’s length from third-party attacks in cold storage, where the private keys are offline, the company told CoinDesk. (At its height during the crypto bull market, the company stored $25 billion worth of assets on customers’ behalf, but the company would not provide a recent figure.)
This policy was placed by Lloyd’s registered broker Aon and sourced from a global group of US and UK insurance companies, including certain Lloyd’s of London syndicates, Martin’s blog post said. He did not name the individual underwriters.
Lloyd’s, which gathers under one roof a range of specialist insurance markets dealing with everything from crime and cyber attacks to natural disasters, is viewed as a seal of approval when it comes to underwriting potential losses of crypto assets.
Previously secretive about publicizing anything about insurance of digital assets, Lloyd’s is steadily becoming more visible, for a certain class of crypto customer at least.
For instance, last month security specialists BitGo trumpeted $100 million of cover for crypto held in cold storage and went as far as naming the lead Lloyd’s underwriter of the policy.
In fact, much of Martin’s post could be read as a veiled dig at BitGo, since he talks about “recent news and announcements” around crypto insurance, suggesting a lot of “confusion” still exists. He then advises firms to focus on hot wallet cover as opposed to cold storage, where value is “at rest” and therefore not so much at risk.
Regarding Coinbase’s blog post, Clarissa Horowitz, VP marketing, BitGo, told CoinDesk via email:
“We’re glad to see that Coinbase is following our lead in bringing more transparency to the discussion of insurance for digital assets. Insurance is complex and transparency is essential for building...
FinanceMagnets.com: Mainbloq Launches Algorithm Suite for Crypto Trading
The suite has 8 algorithms to offer.
| News ( CryptoCurrency ) |
The crypto analysis company has launched a suite of cryptocurrency trading algorithm to automate the trading process.
MainBloq has kept the suite versatile considering the wide spectrum of the crypto trading market. The company’s algorithm can be used within its proprietary order management system. It has also launched API support, which will enable the algorithm to be integrated into any third party OMS or EMS, detailed the April 4th announcement >> READ MORE
Bitcoin’s Rally Caused This Nasdaq Stock to Surge 20%
As Bitcoin’s sudden rally higher captures the world’s attention, it is not only the cryptocurrency investment that is racing back into the light. Any company associated with BTC is experiencing a green day, and naturally, Riot Blockchain (RIOT) is no exception. Despite fading a lot of its daily gains, the crypto mining outfit is still up more than 20%, outperforming most cryptocurrencies.
Riot Blockchain Lives and Dies With the Bitcoin Price
Most articles in the mainstream financial media are pushing the “no-one knows” line about the rally in the Bitcoin Price. Anyone who read this article on CCN yesterday knows that BTC/USD was on the verge of breaking a significant technical level. In an illiquid market where everyone is watching momentum and price action way more than they look at fundamentals, a mass of trend following orders would naturally spike the market aggressively.
Understanding what would cause appetite for Riot Blockchain to surge higher is even more straightforward. They...
Rakuten to Launch Their Crypto Wallet March 30th
Rakuten Inc. just announced their intention to terminate “All Bitcoins Inc.” and launch their own “Rakuten Wallet” on March 30. Businesses launching crypto wallets is nothing new, following companies like Line, KIK and KakaoTalk. The news comes after Rakuten completed their filings as a virtual currency exchange company (VCEX.)
The company stated:
Rakuten Wallet will contribute to the sound growth of the market as a virtual currency exchange company and will further enhance security and provide enhanced services so that more customers can use it safely and with confidence.
Rakuten will be filing another VCEX application for Rakuten Wallet in September 2019.
Rakuten Inc. (4755: JP) holds a market capitalization about one-tenth the size of GM’s profits, number ten on the Fortune 100 list.
What Does Rakuten Do?
Earning cashback on purchases can make large purchases a little more enticing if you pair it with decent discounts. Rakuten aggregates discounts and helps customers receive cash back on their online purchases.
Their offerings have struck a not-so-nice chord...
CoinMarketCap to Revamp Listing Metrics After Fake Volume Research
Cryptocurrency market data resource CoinMarketCap (CMC) has promised to rearrange how it ranks member exchanges after research found overwhelming evidence of fake volume. The company confirmed the upcoming changes on social media on March 25.
CMC is arguably the industry’s best-known tracking service for the market cap of Bitcoin (BTC) and altcoins, as well as for the activity on exchanges trading them.
However, last week, research from cryptocurrency index fund provider Bitwise claimed that CMC hosts almost entirely fake volume statistics. This in turn deceives investors and inflates the profile of affected coins, Bitwise explained in the report.
Now, CMC has appeared to heed the warnings represented in the research, which Bitwise sent to United States regulators for consideration...