Huobi Cloud Aims for 80 More Exchange Partners

Singapore-based exchange conglomerate Huobi Group has a unique growth strategy for emerging markets: partner with local entities and then split the profits 50/50.

Revealed exclusively to CoinDesk, the South African exchange HIZA will launch in May and join a cohort of 150 platforms under the Huobi Cloud umbrella, according to Huobi Group’s senior business director David Chen.

“We will help them get their trading volume up and we’ll expand our business when the market is more mature,” Chen said, adding that up to 80 like-minded partnerships are currently in the pipeline.

Recent expansion isn’t unique to Huobi, however. Global exchange giants like Binance are opening independent subsidiaries in emerging markets like Uganda, or investing in local exchanges the way Bittrex did with the South African exchange VALR. Similar to Bittrex, Huobi Group offers partners like HIZA access to its global order books for prime liquidity.

Interestingly, the partnership approach allows Huobi to minimize the regulatory risks of working in under-developed markets – where banking relationships require local knowledge and repercussions for unintentional missteps remain uncertain.

“They [HIZA] own their customer data, it’s not Huobi that owns it, otherwise it would be Huobi’s responsibility,” Chen said.

He added that Huobi Group has earned $1.5 million in net profit since October 2018 from Cloud partnerships that have already gone live. One such...


Research: 75% of Bitcoin Exchanges Report ‘Suspicious’ Digital Currency Trading Volumes

bitcoin exchange volumes
New research adds even more evidence that Bitcoin exchanges are faking volumes on a massive scale. | Source: Shutterstock

A site called TheTie released a report today that estimates over 86% of all reported Bitcoin exchange volume is suspicious, while 75% of exchanges report extremely dubious volumes. The research uses a different formula than other reports have: it values each website’s visitors and compares that value to the reported figures.

Potential Fake Crypto Volumes High Across The Board

crypto exchange fake volume
Many Bitcoin exchanges – most notably Bithumb – report volumes well in excess of what should be expected given their web traffic. | Source: TheTie

For example, Bithumb, which has been the subject of previous investigations, was expected to have a monthly volume of roughly $1.2 billion based on an average visit value of $13,418. Instead, Bithumb reports over $28 billion. This means their reported volume is nearly 2,000% higher than what would be expected.

TheTie introduces the data saying:

“The weighted average trading volume per web visit for Binance, Coinbase Pro, Gemini, Poloniex, and Kraken was selected as a baseline volume per user to calculate expected volume. This amounted to $591 per web visit. BitMEX was not included because it is a futures exchange. This does not account for mobile app or API usage to trade – web traffic is an assumption for simplicity. Relative outlier detection is quite notable, so the outright number isn’t the main objective.”

TheTie hedges its statements by saying these are “potential” indications of fake volume.

Altcoin Exchange Bittrex Among the Most Reliable Reporters

bittrex
Bittrex resists the urge to inflate its crypto trading volumes to attract more customers....

Belarus Launches Trading Platform Enabling Customers to Buy Tokenized Securities

Belarus Launches Trading Platform Enabling Customers to Buy Tokenized Securities

Belarus has launched a trading platform that enables customers to buy tokenized versions of shares, gold and other traditional assets, Reuters reported Jan. 15.

The project is reportedly backed by two companies, Larnabel Ventures and VP Capital. According to Reuters, the government of Belarus has not yet commented on the launch of the platform, but it was covered by the state news agency BelTa.

The platform will allow traders to buy shares, precious metals, foreign exchange and other traditional assets from Belarus, as well as from other countries, with cryptocurrencies.

Since its launch, the platform has reportedly issued 150 different types of tokens, with each...


Coinbase looks to support 31 cryptocurrencies

The exchange summed-up their main goal that was proclaimed in the month of September, to provide much support for every asset, that conform their set standards, and also not contradicting with the existing local laws.

Coinbase, the U.S Crypto Exchange, officially declared on Friday December 7 via a blog post, that they are delving into the addition of more, new and significant assets.

In a blog post, Coinbase revealed:

“We are continuing to explore the addition of new assets and will be working with local banks and regulators to add them in as many jurisdictions as possible.”

The exchange summed-up their main goal that was proclaimed in the month of September, to provide much support for...


Binance CEO Changpeng Zhao Bitcoin is Still in a Good Position

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Changpeng Zhao (CZ), the founder and CEO at the world’s biggest crypto exchange Binance, has said that bitcoin is still in a positive position after its 70 percent fall since early 2018, especially considering its strong rally throughout 2017.

Crypto Market is Better in Every Way

From January to December of 2017, the price of bitcoin increased from $890 to $20,000, by more than 2150 percent. In comparison to mid-2017, the volume of bitcoin has increased by five-fold, signifying a significant surge in demand and interest towards cryptocurrencies as an emerging asset class from investors in the public market.

In an interview with Bianca Chen, a cryptocurrency researcher and reporter in Zug, Switzerland, CZ said that the cryptocurrency sector is in a better position than a year ago, in terms of infrastructure, price, volume, and mainstream interest.

“Just checked, btc price was $2500 a year ago, today $6800. Trading volume for btc was 780m a year ago, today is 3.4b. There you go,” CZ said.

In mid-2017, the cryptocurrency sector did not have any proper infrastructure in place for both retail and institutional investors. As of July, the crypto market has an institutional platform called Coinbase Custody established, with which hedge...


Huobi Global Crypto Exchange Moves into Brazil

The chances are you have heard of one of the most prominent players on the market. The Huobi global exchange with trading volume of $1 140 189 009 – and a wealth of remarkable features.

Hongkong-based Huobi has recently confirmed they will be expanding their services into the Brazilian market. Let’s take a look at what consequences this may have for the crypto market and how it will affect you directly.

Who are they again?

Huobi is one of the largest cryptocurrency exchanges around. It bears a proud .pro status (this isn’t an award, it just means the address is at huobi.pro, but it still sounds cool), been around since the beginning of times (meaning 2013), and trades, according to the stats, more or less 127 000 BTC every 24 hours, which means it is the third largest trader around. How is that for the power of presence?

With very simple verification and registration procedures and optional delicious offerings like using marginal trading or a credit shoulder, it is indeed one of the most popular choices around. The fact that it is becoming so successful that the management has decided to throw a considerable part of their funds into extending into Brazil is undoubtedly an argument in crypto’s favor.

Background:

Huobi’s main strengths, as you will no doubt learn from their website now that we have intrigued you, are:

“Strategic insights based on research, trends, and 50+ unique indicators to properly evaluate investment potential and risk and in-depth, comprehensive information on 190+ cryptocurrencies.”

We’d also like to point out the importance of “advanced distributed system architecture built to protect against DDoS and other potential threats”, in light of recent hacker attacks.

Also, you will be glad to know this isn’t their first endeavor to explain the potential foreign lands hold:

“Huobi Global Professional Cryptocurrency Exchange has covered global clients and has opened trading offices and operation centers in Singapore, the United States, Japan, Korea, Hong Kong and many other countries”.

With all the experience Huobi has in asset acquisition and extension of their areas of influence there can be no doubt this enterprise will be as much of a success as the other ones, and we are very much looking forward to hearing more good news from them on their recent enterprise.

What happened?

Huobi’s relocation may have been a consequence of some internal struggle to do with governmental restrictions on currency trading in China, where Huobi originally comes from.

Well, all we care about is that it does the job, and does it very well. There are more than 190 currency pairs available with Bitcoin taking the lead. There are also many options available for users who may want to get heavily involved with graphs, use timelines, and learn massive...


Colombian Cryptocurrency Exchange Won’t Go Down Without a Fight

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Colombian crypto exchange won t go down without a fight

In an unregulated crypto environment task of managing a crypto exchange is one of the hardest ones. One of the prerequisites for successful crypto exchange is a good cooperation with a traditional bank. This is a must-have for the exchanges as they need to have some sort of official bank accounts in order to regulate their money flow. In Europe, there are certain regulations and banks are starting to build business relationships with crypto exchanges which are a great sign. European crypto exchanges at least know what to expect, there are no unpleasant surprises dealing with the European banks. Unfortunately, this is not the case in other parts of the world.

Buda to challenge Colombian banks

Buda, one of the biggest crypto exchanges in South America recently encountered problems after three major banks closed their accounts without giving an official notice, as CoinIdol reports. Buda’s director Alejandro Beltran noted that crypto exchange is doing everything in their power to get back their closed account and resume working.

Buda is a crypto-to-crypto exchange with 35,000 accounts in Colombia and over 45,000 in Chile, Peru, and Argentina. Being that large, Buda represents one of the pillars of the crypto community in South America. Buda's director...