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Huobi OTC Moves into Vietnam with Free OTC Trading  

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Huobi OTC is making a grand entry to Vietnam and breaking boundaries with 0% trading fees. The Japanese giant exchange will now support Vietnamese Dong (VND) in peer-to-peer transactions.Traders can now exchange between crypto and fiat currencies using the Huobi OTC trading platform. While competitors are charging 1-2% to execute trades, Huobi will charge no fees when trading local currency into bitcoin, ethereum, and tether (USDT).

Huobi OTC, (over the counter trade) an affiliate of Huobi Global is dedicated to  over-the-counter trades of digital assets. The platform is safe, reliable and suitable for new users looking to invest in digital assets. The Huobi OTC platform also provides a live display data of the sell, purchase, payment transfer and the complete offline transaction through  escrow accounts to ensure safety and reliability.

Vietnamese users of the Huobi platform can exchange  their VND for other digital assets such as BTC, ETH, USDT and HT for free. Also, to prevent counterparty risks, traders are required to place security deposits with the exchange. Merchants who are unable to release the purchased coins at the stipulated time, will have the deposits released to the users. Huobi OTC will be leveraging its affiliate platform Huobi Global to cut out fees such as OTC deposit fees and withdrawal fees. This means a trader on Huobi OTC can purchase 1 BTC for about VND145,051,032.60m. The user doesn’t have to pay a dime to have the BTC transferred to the Huobi Global exchange platform after which he can commence peer-to-peer trading. However, if the user purchases the BTC from a competitor, he would have to bear additional fees before starting to trade.

The Advantage of Trading on Huobi OTC

Huobi OTC offers free cryptocurrency trading on BTC, ETH, USDT but competitors  may charge about 1-2%.

Transactions on Huobi OTC are seamless because of the integration of Huobi OTC to Huobi Global. This means that internal transfers are free and users do not need to pay to exchange one coin to another.

Huobi ensures that all transactions are reliable. Therefore, the coins in the users wallet must be confirmed before the user can list an advertisement on Huobi OTC.

Huobi OTC is reliable, provides 24/7 customer support and has a 5-year old security track record that can keep users rest assured.


Huobi OTC also supports about 17 countries/regions asides Vietnam including: Singapore, Canada, India, Vietnam, Australia, Korea, Hong Kong, Switzerland, Netherlands, Taiwan, Russia, United Kingdom, Nigeria, Cambodia, Indonesia, Philippines and Mainland China.










Disclaimer:
The Information provided on the website is designed to provide helpful information regarding blockchain and cryptocurrency subjects. The content is not meant to be used, nor should it be used as a basis, foundational knowledge or prerequisite for decision making regards trading.

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I am a blockchain and cryptocurrency journalist fascinated with sharing the knowledge of this wonderful technology in the simplest language possible.

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Adoption News

Bitcoin Payments on Amazon Now Possible via Moon

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Do you know that bitcoin can now be used as payment on Amazon? This is made possible by the innovation of Moon using the Lightning Network.

As announced by Moon earlier this week, the crypto payment processor initiative will enable users with a lightening wallet to utilize Moon’s latest browser extension to pay for products on e-commerce sites such as Amazon by connecting the browser extension to the Coinbase exchange account.

According to Ken Kruger – Moon CEO

The extension will pop up a QR code and it will have the lightning invoice, which you could also copy and paste if you can’t use the QR code for some reason. And you’ll be able to pay with your favourite lightning wallet.

It is not clear if Amazon fully backed the initiative. However, it has been tested to be fully operational using the specified Coinbase exchange. A further inquiry into the simple working process of the conversion of the bitcoin cryptocurrency to fiat (which is the generally accepted payment) for Amazon merchants has proven to be more private than expected- as no financial institution has accepted to be in charge of this.

However, Kruger stated that by 2020, the Lightning-enabled feature is expected to work on an e-commerce site. Whether that platform accepts Bitcoin directly or not, does not matter. Currently, users spend their crypto from their wallet on Amazon, via the plugin.

This good news is sure to launch on Wednesday 24th April 2019, and it will be on a Chrome web browser.
Speaking about Integration, Kruger said that VISA and Mastercard partnered to make integration work, and so they are going to earn a percentage equivalent to plastic cards on every transaction on the network.

In his words;

There’s no direct merchant integration. However, we’re integrating with the Visa and Mastercard network and we get a cut of the interchange fees that merchants pay every time they receive a credit card transaction.

While many argue that its a step in the right direction for Bitcoin and blockchain Adoption, others are still on the sidelines to see how it pans out in the long run.

About Moon Company

Moon is a crypto payment processing company set up in New York last year. Its staff includes only three people with just $100,000 invested by the Entrepreneurs Roundtable Accelerator. she is planning to run a Series A in 2019 together with learning users’ behavior for building its activity’

Moon browser is currently available on Chrome Browser, Brave browser, and Opera.
It is not out of place to say that the company is set to initiate support for other major retail stores like eBay, Dominos, Aliexpress Target And Etsy.

Adoption is on a steady rise in Asia in the transportation sector, in Europe in areas of remittances and insurance while in Africa, we still ask questions like “can you receive your payments in Cryptocurrency?” However, Could these moves from Moon and others be responsible for the recent bitcoin price rise?

Disclaimer:

The Information provided on the website is designed to provide helpful information regarding cryptocurrency subjects. The content is not meant to be used, nor should it be used as a basis, foundational knowledge or prerequisite for decision making regards trading. Always do your own research and due diligence before placing a trade. We are not liable for any outcome based on any content found on the site.

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Adoption News

KuBitX Creates Africa’s first usable Stable Coin among other milestones

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Over the past few weeks we at KuBitX have been busy fine tuning our blockchain solutions while also working to raise some operational funding to help us go full blast with our marketing and scaling plans. The good news is that our efforts are finally paying off and you can rest assured we are taking this project further into the mainstream, where it needs to be. Remember KuBitX is all about adoption and inclusion?

 

In the past few months, we have also been working on how to ensure our supporters get the best value for their contributions. We understand one of the ways to do this is to bring more utility and relevance to our native exchange token (KBX – KubitCoin) and a number of business decisions have been made regarding the way forward especially when it comes to listing and getting it into the hands of more people both in crypto and the mainstream. We will talk more about KBX later but let us first discuss our issuance of Africa’s first usable stable coin.

 

Naira Stable Coin (NGNX)

Stable coins. We have all heard of them but they have either been associated with scandals or are typically merely used for trading against crypto pairs. We believe this amazing innovation of blockchain technology can be put to better use such as facilitating real life merchant payments, instant currency swaps and cross-border remittances. It is for this reason that we created NGNX, Africa’s first usable stable coin — a digital asset pegged 1:1 to the Nigerian Naira.

Why did we start off with NGNX?

Nigeria boasts the highest population, highest youth population and highest mobile device penetration in all of Africa. It has the biggest economy and it’s teeming youth population are strong adopters of crypto — an evidence which can be seen in the volume of Bitcoin traded by Nigerians monthly. By creating this Naira pegged asset, we are not only helping more mainstream people to embrace certain applications of Blockchain tech, we are also facilitating further adoption of the technology and thus helping it mature better and faster in our own way. Our NGNX will be “swappable” in real time with other pegged tokens we plan to create once all the business and audit procedures are set in place.

Today, people who own NGNX can currently use it on KuBitX PROW to:

Send XLM to their peers in any part of the globe

Receive funds from their peers across the globe via XLM swap pathways. More pathways are being created starting with other countries in Africa.

Pay for airtime, internet, entertainment, utility and other services for over 3000 merchants in Africa’s largest economy

Fund their KuBitX Exchange account to exchange for other kinds of assets listed on the Exchange.

Fiat Payment Gateway Integration on Exchange

A major challenge crypto adopters in Africa and other emerging markets have is the difficulty in obtaining the top crypto (BTC, ETH, XLM etc) or the fact that they usually buy them at a premium, and often with steep transaction fees. Since we pride ourselves in helping adoption and fostering inclusion, we have decided to integrate a fiat payment gateway to the Exchange so that people can more easily invest in promising assets and projects they want without losing time and money due to the volatility in a high frequency trading environment. Our fiat gateway also ensures people can buy assets closer to the real price without having to pay the steep 2–3% fees being offered by the likes of MasterCard or Visa. It is another way of showing how much we care about how much we can give to our community and not merely what we can take from them.

Currency Conversion on KuBitX Exchange

For the sake of ease and convenience of portfolio management, we have added currency conversion to the settings so that our users can decide to see the prices of assets as well as their wallet balances in any of the currencies we have made available most notably the NGN, KES, ZAR, UGX, USD, GBP, RUB, EUR and CAD.

Exchange Liquidity

You may have noticed the reduction of the available trading pairs on the exchange, but you will have also noticed that the available pairs are coming alive. In the following weeks, we will be working to ensure there is more liquidity for the projects listed on the exchange. We do not believe in listing every project out there, we only want to list the most viable ones we can access. As our operations stabilise even further, we will be conducting community voting events as well as initial exchange offerings to bring on board high quality projects for our esteemed users.

 

Bonus referrals and Loyalty Discounts for payments using KBX

We believe in giving back, we cannot emphasize this enough. For this reason we will be giving back money to our users whenever they or their referrals pay for their bills on KuBitX PROW. When a referred person pays a bill, the referrer gets 5% of the transaction fees. A referrer is also eligible to earning 3% of the transaction fee of his/her downline’s first referral. People will always pay bills so we believe this is a good way for mainstream adopters of our KuBitX PROW to earn passive income.

 

In addition to the bonus referral payments, we have also negotiated discounted transaction fees for our users when they pay their bills on the PROW using our KBX tokens. This helps the user get a good deal as well as adding more utility to the token itself which benefits all owners.

Work is also ongoing to allow our esteemed community to be able to stake their KBX tokens for periodic rewards. More information will be provided on this at a future date.

One more thing (One Big Partnership)

We signed a huge deal to co-create something that can change the way funds/value is moved across Africa by people and especially mainstream businesses. We are super excited about this partnership and we believe it is positioning us further in an influential place within Africa and beyond as far as Blockchain innovations is concerned. We will share more details of this after the Easter break.

Yet one more thing (#BWCLagos19)

Women across Africa attended the maiden Blockchain Women Conference held in Lagos, Nigeria which was attended by the likes of Eric Annan (KuBitX CEO) and Reggie Middleton (Veritaseum CEO). At the event, KuBitX CEO pleaded with Africans to let go of a scarcity mentality and start collaborating to build strong and meaningful blockchain projects so that in the next few years, Africans can look at themselves as Blockchain solutions co-creators and not merely consumers as has been the typical trend with past major technology waves.

When also puzzled about why KuBitX was giving so many top notch features out so cheaply, Eric Annan responded to say:

We are focused in bringing value to the entire continent, because Africans have been saddled with exorbitant charges, poor customer support including random unexplained closure of accounts by some platforms. We are more concerned about the people and the value we can bring them, hence we will continue to strive to make it easier for the continent to have easier access to useful and reputable digital assets in the coming months. We plan to do this with features such as card payment and direct bank deposit. This is only possible as a result of our commitment to strategic synergies and partnerships with the mainstream.

 

 

Thanks for your patience and support so far. Keep supporting us as we work to bring you value both in how we serve you as well as how we make KuBitX bigger and stronger. We have a few other things cooking which we would only be at liberty to share once all the background and paperwork has been completed. For now, the team will just keep doing what they know best — work, innovate, collaborate,deliver, improve, rinse and repeat.

 

Happy Easter Holidays

 

 

 

 

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Altcoin News

GROESTLCOIN (GRS) ENABLED ON SATOWALLET TO BE USED ON SATOPAY

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Satowallet and Groestlcoin

In a recently published article on its official medium blog, Satowallet mentions that it has successfully wrapped up the listing of Groestlcoin – a Blockchain asset on its global fiat system.

Groestlcoin is a secured blockchain asset which offers almost Zero fees during transactions. The team behind the project does well to make available major updates in 3-month intervals. this has contributed to keeping the coin and project among the top 200 on Coinmarketcap. Interestingly, the coins hold some form of history as the first to activate SEGWIT (SegWit, is the name used for an implemented soft fork change in the transaction format of the cryptocurrency bitcoin). READ MORE. According to Coinmarketcap, the project has $25M USD trading volume and a Market Cap of $35M USD with a total supply of 105,000,000 GRS.

Expressing excitement on the partnership, Satowallet reveals that the coin is set to trade against various crypto pairs; BTC, ETH, DOGE, SATOS and some fiat settlements; USD. NGN, GBP, and EURO for instant swift buy and sell on the global scene. More so, the use of Visa Debit Card to initiate Crypto/fiat withdrawal will soon be possible.

Satowwallet exchange is an all-in-one crypto exchange, with a widespread of users in over 140 countries and a range of services from; in-app trading, storage, investment, fiat settlement, staking, swapping and Blockchain Asset Security. The Nigerian based wallet has indeed changed the narrative of indigenously grown blockchain startups in the global scene.

Some of the recent features the project plans to launch are;

Satowallet Debit Card– creating a much easier and crypto friendly environment for her users worldwide with the use of SATOPAY (the planned Visa Debit Card for the Exchange). this means anywhere Visa cards are available, the exchange’s fiat withdrawal system will work.

Shop globally with SATOPAY– With the use of Groestlcoin Wallet and Satowallet Exchange App, you can easily fund your SATOPAY Card and shop from card enabled stores.

For more updates and recent features on the SATOPAY Card, visit the Satowallet Medium Blog

In the Press release, the 29th March 2019, saw the launch and availability of the coin on the Satowallet mobile and PC apps. The user can buy instantly with USD, NGN, GBP, and EURO and also with Cryptocurrency.

” Buying and Selling take only 5 seconds and the funds will be available in your wallet through Jiff Trading. The debit card will also be made available upon users request when released in a short while through our banking partners.”  –Team Satowallet

 

Disclaimer:

The Information provided on the website is designed to provide helpful information regarding cryptocurrency subjects. The content is not meant to be used, nor should it be used as a basis, foundational knowledge or prerequisite for decision making regards trading. Always do your own research and due diligence before placing a trade. We are not liable for any outcome based on any content found on the site.

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Binance Set To  Work With CoinMarketCap To Resolve Fake Trading volumes

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Fake trading volumes reports comes with a mixed feeling in the crypto sphere. A recent research report published  by Bitwise Asset Management has taken a look into account data from 97 crypto exchanges to trace the sequence of trade volumes. The report detailed that most of the crypto exchange platforms were providing faked volume to the listing website – some 87% of them to be precise (Note that the report was focused on bitcoin only). The report was submitted to the United States Securities and Exchange Commission and it stated that almost 95 percent of volume on unregulated exchanges appears to be fake or non-economic in nature.

Using observable data from reputable exchanges like Coinbase and Kraken as a baseline, the report recorded traded volume against the number of exchange visitors, showing that 59 percent of reported volumes were more than 10 times higher than would be expected: “If each exchange averaged the volume per visit of CoinbasePro, Gemini, Poloniex, Binance, and Kraken” tweeted TIE, “we would expect the real trading volume among the largest 100 exchanges to equal $2.1B per day. Currently that number is being reported as $15.9B.”

Following this research discovery, Bitwise then  accused CoinMarketCap of listing this suspicious data and thus generating a potentially mistaken impression of the true size of the BTC market.

Changpeng Zhao, popularly known in the industry as CZ, said that the reports — most recently from Bitwise Asset Management and The TIE— on exchanges widely faking volumes will end up making the whole industry more transparent.  The said research report has claimed that 87% of reported cryptocurrency exchange daily trading volume could be fake.

As contained in the TIE tweets “We started by pulling a list of the top 100 exchanges by reported trading volume over the last 30 days.We then used Similar Web website viewership metrics to calculate the estimated 30 day traffic to each exchange’s website. After doing this, we divided reported volume for each exchange by the # of monthly website visits to determine the reported volume per visit.”

However, CZ has added that contrary to the belief that CoinMarketCap is not to blame, the popular listing website had absolutely nothing to do with the situation:

“It’s not so much Coinmarketcap’s fault, everyone tried to blame on them [sic]. But CoinMarketCap has a very simple reporting mechanism where every exchange reports their own data to them, and they just show it.”

CZ made it clear that Binance will not be lured into starting a Twitter war with CoinMarketCap which he said was “kind of childish.” However, he said that the exchange is presently working with CoinMarketCap to find a solution to the problem. He equally said that delisting an exchange found faking volumes could serve as punishment and in turn contribute to mitigating the issue.

 

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