Cryptocurrency continues to become an ever popular as people begins to grow in awareness and come to true understanding of the importance of cryptocurrency in lives today.
With the government financial policies becoming popularly known to be less helpful in protecting personal finance, cryptocurrency becomes very important for those who desire to either protect and preserve some of their assets or enjoy the fruitful benefits of involved in trading the movement of this new asset class.
As much as cryptocurrency has become popular as there are millions of people trading per day, there is still room for improvement.
The future which every crypto faithful envisage and popular refer to as “mass adoption” has not come and for those who provide the technologies, platform, products for the cryptocurrency industry, their continuous effort may become fruitful in due time.
Since the commencement of the year 2020, there have been several eventful happenings in the crypto industry but for this piece, we are examining the growth of cryptocurrency exchanges in terms of traffic for the month of February, 2020.
From data gotten from ICO Analytics , in the second month of the year, 2020, Binance had the most exchange visits at about 23.8million hits. This was an increase of 24% over the traffic in the month of January, 2020. This doesn’t come at a surprise considering the fact that Binance is always on the news weekly.
US based cryptocurrency exchange Coinbase had a 22.2million hits in February, which was a 7% increment compared to January.
Top margin trading platform BitMEX also had the third highest traffic increase from January to February at 29% but in February, it received 12.9million web visits in the month making it the third exchange with the largest web visits in the second month.
UPbit has a 5.5 million visits in February which rounds up to the highest increase in traffic from January to February at 41%.
YoBit.net and Kraken had similar visits at 4.8million (+20% in February) and 4.1million (+19% in February).
Huobi saw a 2.5million visits in February which was an increase of 26%, OKEX also received 2.3million visits at 18% increase.
The continued rise in interest in cryptocurrency will have to further fuel the up rise in traffic of cryptocurrency exchange which are one of the most powerful stakeholders of the cryptocurrency industry.
As much as decentralization is preached about and the hope on decentralized exchanges, these centralized exchanges are what we have now and they are continuing their upward growth.
As global financial market continues to see a downtrend, crypto may become the alternative for many people and for exchange operators, it presents a unique opportunity for them to increase their user base as well as revenue base.
Kucoin Launches P2P Fiat Trade for the Nigerian Market
Cryptocurrency exchange platform Kucoin announced the launch of a peer to peer Fiat trade for the Nigerian market.
The launch will allow users purchase USDT and BTC using the Nigerian Naira (NGN) via its peer to peer Trade. According to Kucoin, users will enjoy better prices and instant transactions.
#KuCoin Launches P2P Fiat Trade for the $NGN Market 🇳🇬— KUCOIN (@kucoincom) July 31, 2020
The NGN/USDT and NGN/BTC are now available to users in the KuCoin P2P Fiat Trade market.
Buy #Crypto with NGN now: https://t.co/QEB6ZuqFCe
Details: https://t.co/9ph4hy53gF pic.twitter.com/pT2bHdhw8Y
The two trade pairs NGN/USDT and NGN/BTC are currently available for users on the Kucoin P2P fiat Trade Market. Kucoin request users to update to the latest version of the product to access the new market and ensure their trades are successful. It also revealed that more currencies will be provided soon on the platform.
Launched in 2017, Kucoin is one of the leading cryptocurrency exchanges globally and currently ranks 16 on coinmarketcap with a volume of over $300 million on daily average and offering spot trading, derivatives and OTC.
The Nigerian market has continued to see embrace by cryptocurrency exchanges owing to the large market which is indicated by the daily volume from P2P platforms such as PAXFUL and other sources.
On an average, according to data from coindance, over one billion Maura is traded weekly on Localbitcoin. PAXFUL commands on average weekly a $5 million trade volume from Nigeria being its largest market in Africa.
To enjoy the new markets, Kucoin advises users to upgrade their Kucoin product.
Binance Ships out its Debit cards
The long awaited and anticipated Binance debit card is here. The first sets of cards have been set in motion for delivery to customers. The CEO of Binance exchange, ChangPeng Zhao, popularly known as CZ made this known to the public while giving response to a tweep interested in the product. He said in the tweet; “This started shipping in limited quantities as of yesterday, I heard”
Unveiling of the Binance Card
The plans for the Binance card were made earlier this year around April. The debit card was to be issued by Visa and the testing was to be done in Malaysia before its launch. Like other crypto cards, the Binance debit card would allow its users to spend their crypto assets by converting them to fiat.
According to previous reports, the Binance card was to be a global project. Binance is constantly making partnerships with banking and debit card partners to make users buy crypto easily from anywhere in the world easily. Ordering the card costs $15, although the exchange promises there won’t be maintenance fees according to previous reports.
Cryptos available on the Card
The card will support four cryptocurrencies according to Binance. The cryptos are Bitcoin (BTC), Binance USD (BUSD), Swipe’s native token (SXP) and the Binance native token (BNB)
Binance revealed earlier that the card will work like a normal debit card and users won’t be required to convert crypto to fiat before necessarily making a purchase. They have the opportunity of picking from a variety of the four cryptos aforementioned to fund their Card wallet.
Crypto debit card is becoming the new normal in the crypto space of recent. Different companies have unleashed their various debit cards. Worthy of mention is that of Naijacrypto.com. BTSE, a crypto exchange launched its debit card in June, 2020.
Image from binance.com
BitMEX Offers Corporate Account Feature to Traders
Top Margin Trading platform BitMEX announced it now offers Corporate account features to its customers. The Corporate account according to BitMEX is designed for customers who are not individual entities but a company or any other legal entity whose ownership structure differs from other individual traders and will require unique ways for their employees to access and manage accounts on its behalf.
Founded in 2014 by Arthur Hayes, Ben Delo and Samuel Reed, BitMEX grew to become a leader in my crypto trading market. BitMEX averages a trading volume of over 150,000 BTCs valued over a billion dollars with the bitcoin market taking a significant share of the trade volume.
BitMEX affords corporate account users several benefits such as ensuring legal property of corporate entities, enhanced service which has a dedicated client coverage relationship manager and access to global corporate events.
Corporate account customers enjoy enhanced security by allowing customers to define account access and control via authorized signatories and dedicated account management. Corporate Account customers also are offered account audit features and support.
The firm also disclosed that high volume Corporate Accounts are also eligible for the Tiered Account Schemes benefits such as increase in trade limit thresholds linked to trading behaviour and having their opinions heard regarding products and features development.
BitMEX has stated that the only type of account that’s eligible are accounts that are not owned and managed by an individual. And that the Corporate Account customers will enjoy future benefits such as invitation to be part of its Early Access programmes for ongoing product and service enhancements, with Sub-Account and Inter-Account instant transfer features and Multi-User Login capabilities due to be launched later in the year.
Naijacrypto has Revealed it’ll Launch a Debit Card Amongst others in Coming Weeks
Popular Nigerian cryptocurrency exchange Naijacrypto has revealed plans to launch some products and onboard significant liquidity unto its platform.
The firm made this known via its Facebook page that in the coming weeks, it will launch a cryptocurrency Verve powered debit card. According to Naijacrypto, “users no longer have to endure excessive transaction fees and complicated crypto-fiat conversion procedures…”.
The debit card empowers users to make online payments, POS transactions and ATM withdrawals directly from their Naijacrypto wallets. The firm hasn’t disclosed the supported cryptocurrencies yet.
Onboarding of Liquidity
Through a partnership secured by a major player in the global cryptocurrency market, Naijacrypto reveals it will onboard significant liquidity which will allow users to enjoy instant filing of orders, faster transactions and lower price quotes. This achievement according to the firm “represents the culmination of months-long efforts to improve and increase the liquidity on the exchange and achieve greater stability as well as boost transaction efficiency for traders and merchants.”
The launch of Naijacrypto Academy
In the coming weeks, the firm has revealed it will launch an academy that will help to drive cryptocurrency education. This initiative according to the firm was a response to community requests. The academy will form a “key educational arm of the Naijacrypto ecosystem whose function is to educate users as well as the general public on the basics of blockchain technology and cryptocurrencies”
The firm also revealed plans to roll out its affiliate program that will empower individual users to make money upon referring other users called Candidates. Users that join the affiliate program will be entitled to a percentage of the transaction fees of Candidates.
These initiatives according to the firm is to essentially cement its place as Nigerian’s leading crypto-exchange.
Based in Lagos, Nigeria, Naijacrypto is a cryptocurrency exchange platform offering state-of-the-art services, access to an OTC market for a wide selection of digital assets.
The firm’s strategy focuses on providing unparalleled support, tools, and innovation for professional traders and liquidity providers around the world.
Press Release5 days ago
CryptoTVPlus Announces the Commencement of Blockchain & Cryptocurrency Awareness Tour – BCAT 2020
Blockchain News2 days ago
The Algorand Solution to DeFi (Decentralized Finance)
FEATURED7 days ago
17 year old Twitter Hacker owns $3.3M in bitcoin
Altcoin News5 days ago
Ethereum Serenity 2.0 Promises New Perks and Challenges
Altcoin News4 days ago
100% of Chainlink Addresses Are Currently in Profit