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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.










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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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Cryptocurrency

Huobi Wallet Now Provides Support to EOS & TRON (TRX)

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Huobi Global is focusing on customer security. This has lead the third biggest crypto exchange in trading volume to adding support to EOS & TRON (TRX) on its Huobi Wallet thereby allowing its users to manage their private keys. Tron holders will now be able to store their TRX tokens on the Huobi Wallet as well as download the new application in both iOS and Android devices.

Huobi wallet aims at improving user experience this is why it supports Bitcoin, Bitcoin Cash, Tether (USDT), Ethereum (ETH), EOS (EOS), Ethereum Classic (ETC), Litecoin, Tron (TRX) and all ERC20 tokens. The wallet also supports  other stablecoins such as PAX, TUSD, USDC and GUSD. Huobi also has plans on adding more currencies. The exchange revealed, “Going forward, the community can expect to see more currencies added at an accelerated rate. We also plan on establishing additional partnerships with a range of decentralized apps (Dapps) developers, giving our users greater access to an expanded range of products and services.”

On the other hand, the inclusion of EOS is the first of one of the many upgrades lined up for the Huobi multi chain light Wallet. Powered by the native cryptocurrency EOS, the EOS.IO blockchain protocol emulates most of the attributes of a real computer including hardware. It also has its computing resources distributed equally among the EOS cryptocurrency holders. The Vice President of Huobi Group, Livio Weng explained the reason behind the collaboration with EOS saying, “EOS is among the most important Delegated Proof-of-Stake (DPoS) currencies so it was a natural choice for us to include on Huobi Wallet.”

Asides a Tweet, there a lot more details that is not known about the wallet. However, Huobi has plans to hold a TRX bounty program. The incentive is to celebrate the inclusion of TRX to the Huobi wallet, therefore, users will be rewarded with 400K TRX bonus. To participate users will have to download the Huobi Wallet on App Store or Google Play and then store TRX on the Huobi Wallet. To decide those who will get the bounty, a snapshot will be taken at 24:00 (GMT+8) November 25th, and users will get their bonus based on the size of the TRX asset they store.

Huobi Wallet has added support for more tokens this year including all ERC20 tokens. With the addition of EOS and Tron (TRX), hopefully Huobi wallet can begin to support tokens such as Ledger Nano or the Tresor that are not yet supported on regular hardware wallets.

 

 

 

 

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Swiss Crypto Company, X8 Obtains Islamic Finance Certification

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The cryptocurrency space is beginning to attract the Islamic financial world. Regulators and financial exchanges in the Middle East region are working to ensure that finance is Sharia-compliant. To this effect, a Switzerland-based fintech firm, X8 AG has received a certification from the Shariyah Review Bureau (SRB) for its digital currency. Reports have it that X8 AG is seeking to expand its business in the Middle East.

Director and co-founder of X8, Francesca Greco revealed that the company hopes that its Ethereum -based stable coin which has the backing of eight fiat currencies and gold, can address some of the concerns of Islamic scholars. Most of these concerns revolve around the religious validity of cryptocurrencies, its price volatility and the types of assets backing these digital tokens.

The Zug based company received the certification from SRB, a Sharia consultancy and audit firm licensed by the central bank of Bahrain. SRB holds over 13% of the market share of Saudi Investment Companies. These companies are licensed by the Capital Markets Authority (CMA). The SRB also holds over 21%  of the Cooperative Insurance Firms which are Listed on the Saudi stock-exchange market.

X8 also has plans to launch a Sharia-compliant crypto exchange and has been in talks with local exchanges in Abu Dhabi, Bahrain and Dubai. Greco revealed. “The Gulf region is a really good place for financial technology companies because they all want to become hubs for fintech.”

Several fintech firms are beginning to integrate their technology into the field of Sharia-compliant finance. Sometime in July, Stellar (XLM) claimed to be the first blockchain protocol to received a Sharia-compliant certification in the money transfer and asset tokenization field. Not to be left out, NOORCOIN, a crypto utility token was certified in March with a Sharia Certificate from the World Sharia Advisory Committee. Also, X8 has claimed to be a ‘pioneer of a unique class of stable tokens’.

 

 

What do you think about Sharia-compliant certification for cryptocurrency? Share your opinion with us in the comment section below.
Image credit: Pixabay

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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 Uganda Officially Launches Today!

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Full signups and deposits are now live on the Binance Uganda platform. The Binance team had announced that full trading will be open Today, the 17th of October with the Ugandan Shilling (UGX) being paired with Bitcoin (BTC) and Ethereum (ETH). The Binance team also announced that the platform is not restricted to Ugandan users alone. The exchange is open to anyone using the usual KYC (Know Your Customer) procedures.

Binance had earlier in June announced its intentions of starting operations in Uganda. The company aimed to expand its reach not just to developed countries alone but to less developed countries. By opening an exchange in the African country, Binance Is giving less developed countries with potentials, an opportunity to grow into thriving markets. Binance made the announcement back in June and the first 20,000 users to register on www.binance.co.ug were rewarded with 0.5 BNB. Users also promised zero trading fees as soon as the platform was live and running.

Uganda users can now start depositing funds in UGX, BTC and ETH starting from 10:00 AM Uganda Time (EAT).
Binance Uganda is the first local fiat-to-crypto exchange in the East African nation and marks a milestone in Binance’s push into the African market. Binance Uganda users can now complete full account verification and are able to start depositing funds in UGX, BTC and ETH starting from 2018/10/17 10:00 AM Uganda Time (EAT). Binance had managed to penetrate the Ugandan market. Prior to the launch of Binance Uganda, very few options were available for users convert their shillings into bitcoin or other digital assets. Ugandans had to rely WhatsApp and Telegram to trade on a peer-to-peer basics.

The official announcement states,
“Fellow Binancians,
We are delighted to announce the official launch of Binance Uganda Exchange: www.binance.co.ug

Users are now able to complete full account verification in the User Center after logging in.
Deposits for Ugandan Shillings (UGX), BTC and ETH will open starting from 2018/10/17 10:00 AM Uganda Time (EAT).”

 

 

 

What do you think about Binance Uganda? Share your opinion with us in the comment section below.
Image credit: Pixabay

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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Imports and Exports Trade Gets Blockchain Solution

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Abu-dhabi

It’s no news that the government of Abu Dhabi has reiterated several times of moving all existing government operations to the blockchain from 2022. The latest news coming out of the Arabian country is the trading sector, as it has begun the use of blockchain to conduct its transactions.

Maqta Gateway has developed and implemented its own blockchain solution for international logistics and trade. ConstructionMaqta Gateway which is a wholly owned subsidiary of maritime industry developer Abu Dhabi Ports. This feat would be the first of its kinds as it transcends to a paperless real-time tracking which in turn would save time, efforts and paperwork.

Developed by the Digital Innovation Lab of Maqta Gateway, the blockchain was field tested with strategic customers of Abu Dhabi Ports prior to launch and will see a commercial rollout to freight forwarders and their customers initially.

The platform is designed to safely encrypt and secure all documents essential for documentation of cargo. After the technology has been tested, it will then be offered to the rest of the trade community as a ‘complementary tool’ alongside the current Maqta’s Port Community System, a move that will fast-track adoption.

[B]lockchain is a key step in the digitalization of trade,” said Dr. Noura Al Dhaheri, CEO of Maqta Gateway, adding:

The blockchain solution was developed to bridge the gap between exporters and importers in an industry that is notoriously averse to digitization and change by reducing the need for manual paperwork, communication and physical visits with faster, real-time information exchanges over a decentralized ledger.
Through Silsal, we will be offering the trade community secure and integrated access to blockchain technology, with the added value of cost and time savings through real-time track and trace, reduction in paperwork and ease in extracting vital information to receive live updates.

 

 

Would the Import and export trade sector  be able to depend on the blockchain for its cargo transportation? Share your opinion with us in the comment section below.
Image credit: Pixabay

 

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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