Connect with us

Exchange

Poloniex Spinning out of Circle to form a new Company, To Exclude US Customers.

Published

on

By

Cryptocurrency exchange poloniex announced through the company’s blog it will be spinning out from Circle to form a new company called Polo Digital Assets, Ltd and it will be excluding US Customer as it spins out.
The new company will have the backing of a major investment group and according to Poloniex, it will enable it to focus on the needs of global crypto traders with new features, assets and services.
Incentivizing users, Poloniex has reduced the trading fees for spot trading to 0%. This was effectively done on the 21st of October, 2019 and will continue till the end of the year.
The exchange affirmed it intends to continue beyond that with highly competitive pricing models for traders. And going forward, it intends to spend more than $100million for expansion and development.
In February, 2018, Circle announced it has acquired the US based cryptocurrency exchange Poloniex for a sum of $400 million. In the press release, Circle said it is on a mission to make it possible for everyone, everywhere to create and share value.
According to the firm, Poloniex addresses another key element of Circle’s product foundation: an open global token marketplace. Circle expressed its commitment to maintaining the features and services that have made Poloniex so familiar and relied upon by customers.
As it is spinning out from Circle, Poloniex will be excluding its customers from the United States and Circle will be winding down operations for them. Bittrex has also moved out of the US
According to Poloniex, from November 1st, US Customers will not be able to execute trades on the exchange but they will still be able to withdraw funds from the exchange until 15th of December, 2019.
Poloniex expressed great confidence in the journey ahead as it said “The Cryptocurrency revolution has just begun, and we’re in it for the long haul.”

Continue Reading
Advertisement
Click to comment

Leave a Reply

Exchange

Naijapay Launches Enabling Bitcoin and Dash Payments

Published

on

Naijacrypto a top indigenous Nigerian exchange has announced the launch of their crypto payment gateway, “Naijapay” to enable businesses to accept crypto payments with easy
conversion to naira.


Nigeria has been a popular crypto hotspot over the years always among the top in ranking of traded bitcoin volumes. This is fueled in part by the huge remittance inflow into the country which was more than the oil revenue of the country in 2018, and the use of crypto for payments.

As more people switch over to using crypto for day to day payments, Naijapay aims to be their top destination.

Naijapay will support Bitcoin and Dash payments at zero transaction fees. It would contain two modes; The “naira mode” would enable businesses to accept crypto but always receive naira.

They do not need to worry about the volatility of the cryptocurrency markets. The “crypto mode” is for those who wish to receive crypto and keep funds in crypto.

The platform has utilities for
users who just wish to accept crypto payments without any complexities as well as utilities for users who wish to integrate payment APIs on their website.

Naijapay is also InstantSend enabled, meaning Dash transactions will be instantly confirmed, and the naira value credited to the receiver.
The Naijapay Platform would also advertise businesses who accept cryptocurrencies, this is in Naijacrypto’s vision to make the Local markets visible to the international community.

Even freelancers can advertise their business to an international community and receive payments easily.


According to Chiagozie Iwu, founder of Naijapay; “Naijapay is set to revolutionize the way Nigerian Businesses and freelance workers receive payments. Gone are the days when payment methods hindered market reach”.

This is a much-needed utility in the Nigerian business space
and also good news to the Nigerian crypto community in their push for more crypto adoption
mechanisms.

Continue Reading

Exchange

Luno to hire over 200+ people, Plans Global Expansion to reach 1bn people by 2030

Published

on

Co-Founder and CEO of leading cryptocurrency exchange, Luno has revealed the firm is looking to hire over 200 personnel. 

This was revealed via a tweet on the 19th of November, 2020. In the twitter post, the CEO, Marcus Swanepoel said Luno was looking at getting 200+ people and anyone who wants to help the firm upgrade the world to a better financial system should keep an eye on its job portal. 

Luno CEO, Marcus Swanepoel

Mr.  Marcus also tweeted about the plan of getting the Luno brand to 1 billion people by the year 2030.

Read also: How a First Time Bitcoin Trader Made 10% Profit in 10 Days on Luno. 

Continue Reading

Exchange

Kucoin’s Web Traffic Drop by Almost half in October After Hack

Published

on

Cryptocurrency exchange Kucoin experienced a drop in its web traffic in the month of October by almost half. The report which was compiled by ICO_Analytics reviewed the web traffic data of 20 top cryptocurrency exchanges for the month.

According to the report, Kucoin experienced web traffic of 1.7 million in the month however, that figure represented a significant reduction in its web traffic when compared with the previous month, September.

The report revealed the exchange experienced a 45% loss in web traffic in the month of October. The likely reason was the attack which occurred on the exchange in late September, which saw the exchange halt significant operations. The hackers were able to withdraw huge some of funds running in hundreds of millions of dollars in several cryptocurrencies such as Bitcoin, Stellar and multiple ERC-20 tokens

Immediately the news of the security breach broke out, industry participants rally round support the thwarting of the hackers plan by freezing stolen cryptocurrency, upgrading contracts to render the some of the stolen funds useless etc. 

With this measures, the CEO of Kucoin Johnny Lyu has revealed the exchange has been able to recover the 84% of the stolen funds and will published the case when it is closed as directed by law enforcement. Johnny Lyu also revealed the exchange has resumed full service for the 176 tokens affected and all others are scheduled to be reopened before September, 22nd.

In a tweet published hours ago, the CEO of Kucoin, said he was glad that the incident was dealth with in an open and transparent manner, always putting users first and it Kucoin looks forward to continue to safeguard users funds and bring more crypto hidden gems to the world as it always does.

Other than Kucoin, the report also revealed Uniswap saw a drop in web traffic of 25%, ZB.com  experienced a 32% drop in web traffic  while Huobi had a one-fifth decline in web traffic in the month of October, 2020.

Continue Reading
Advertisement
Advertisement

Trending