Huobi Group is a global blockchain company founded by Leon Li in 2013. Currently, the crypto exchange has an accumulative turnover that exceeds USD $3 trillion and offers its services to users from more than 170 countries.
Huobi Group has officially announced the launch of its new mobile application, Huobi Lite. Per a March 10 announcement, the new app will allow anyone to trade major cryptocurrencies on Android and iOS without fees or commissions.
Users will be able to trade cryptocurrencies with fiat currencies such as the United States Dollar, Vietnamese Dong, Malaysian Ringgit, Hong Kong Dollar and Chinese Yuan through multiple payment methods, including credit cards.
Currently, Huobi Lite supports BTC, ETH, USDT, HT, EOS, BCH, XRP, LTC and HUSD, although they have clarified that they expect to incorporate new crypto assets in the future.
Users will be able to store, track and manage their portfolios and the company claims that a Bitcoin can be obtained in less than five minutes with the mobile app.
On the launch of Huobi Lite, Ciara Sun, VP of global business at Huobi Group, said:
“By reducing the barrier to entry and catering to both beginners and veteran traders, we’re vying for mainstream adoption across the globe, especially in underserved markets like Southeast Asia.”
Ukrainian’s powers stated that crypto mining does not require regulatory activity from governmental oversight bodies or other third-party protocols.
In its legal article on virtual assets published on Feb. 7, the Ministry of Digital Transformation of Ukraine specified that mining does not necessitate directives by state authorities as this activity is measured by the protocol itself and network members.
The agency further added that it will contribute to the development and implementation of decentralized technologies, as well as establish sandboxes for their evaluation and verification, and assessment of potential risks to the market.
The agency swore to promote collaboration between the financial market and virtual assets and their effective development, international best practices on taxation of virtual assets, as well as establish effective mechanisms to prevent abuse and offense from business and law enforcement.
Ukraine has appeared to be actively exploring the digital currency and blockchain space, in recent months. At the end of January, Ukraine’s Finance Minister reportedly said that the State Financial Monitoring Service of Ukraine (SFMS) would be the authority responsible for tracking the sources of origin of the funds on citizens’ crypto wallets. Thus, the SFMS would be able to not only find out the origin of crypto but also detect how those funds have been spent.
Last December, the Ukranian governmentapprovedthe final version of a money laundering law that will handle virtual assets and virtual asset service providers per FATF guidelines.
The new law comprises some guidelines on how the government aims to monitor and regulate the trading of cryptocurrencies. One of the guidelines focuses on individual crypto transactions worth less than 30,000 hryvnia ($1,300), from which the administration will only gather the public key of the sender for the purpose of financial monitoring.
Investment platform CurioInvest and Seychelles-based digital asset platform MERJ Exchange Ltd. will jointly begin offering a token backed by collector luxury cars.
The so-called Car Token (CT1) token is set to be attached to the value of collectible cars giving more people a chance to have a portion of an asset, BNN Bloomberg informed on the 30th of January, 2020.
The company specified that the appeal of the token also lies in the fact that the value of such goods continues to increase in value. “When you look at fine art, collectible cars, they have been perceived historically as safe havens,” said Fernando Verboonen, founder and CEO of CurioInvest.
Verboonen added that each holder of CT1 tokens will be an advantage from holding a portion of an asset, though did not delve into a comprehensive explanation at that juncture. CurioInvest’s site stipulates that a token owner is able to share in any latent profit when the vehicle is resold, where the amount of money they get is directly proportional to the value of the car.
It is also said that “any vehicle that increases in value by more than 20% will be resold by CurioInvest so that investors can share in the profits.” As such, the partners are planning to list 500 collectible cars on the exchange worth over $200 million.
Although the token is backed by the value of classic cars, CurioInvest told Cointelegraph that it does not consider it a stablecoin but rather a security token as it comes with and by the Financial Market Authority approved prospectus and International Securities Identification Number.
Jim Needham, head of digital strategy at MERJ, further said: “You can have a guy in Uganda who’s able to invest in a rare car that’s kept in a vault in Stuttgart, tokenized by a company in Liechtenstein and it all fits within this recognized regulatory environment.” However, that Ugandan investor will hardly be able to drive the car he invested in..
When asked what would push people to hold such tokens and what would be the impetus behind it, CurioInvest said that individuals can invest in multiple cars and thus “invest in the virtual garage of your dreams, backed by tangible, real-world assets.”
For the future, CurioInvest plans to allow investors to monitor their vehicles via webcam, occasionally visit the vehicles, and participate in driving experiences involving similar cars.
Considering the way depreciation could affect the token value, CurioInvest pointed out that all forms of investment are vulnerable to risks. The company also noted that cars are real assets, which may be subject to material risks such as potential vehicle damage, and added:
“The value of an investment is determined by market forces and thus, it can fluctuate in both directions. You will make a profit if the value of the vehicle exceeds maintenance costs when it is resold by Curio. If you are selling Car Tokens peer-to-peer, there is no guarantee that you will locate a buyer willing to purchase them at your desired price.”
Some other car manufacturers have also embraced blockchain in regard to classic cars. Thus, Italian luxury sports car brand Lamborghini began using the Salesforce Blockchain to authenticate heritage Lamborghini cars. The platform enables Lamborghini to trace, certify andauthenticate heritage cars faster and more securely using its blockchain platform.
Web 3.0is slated to be the new paradigm in web interaction and will mark a fundamental change in how developers create websites,
You have probably heard the term “web 3.0” floating around the internet. Simply put, web 3.0 is the new phase of the internet’s evolution. The changes that web 3.0 is bringing to the internet is going to take it to a whole new level. Computer scientists and Internet experts believe that these changes are going to make the internet smarter and our lives easier. So, to understand these paradigm-shifting changes, let’s first look at the evolution of the internet as we know it.
Web 1.0
Believe it or not, there used to be a version of the internet that existed before social media and video streaming! This was a time before Google in the mid-to-late ’90s. The internet used to be dominated by AltaVista and Netscape. Back then the internet existed to only advertise their brick-and-mortar companies. These websites were “read-only web,” meaning you were only allowed to search for information and read it.
Most e-commerce websites are still web 1.0 in nature since the concept behind them is simple. Present products to the customers and take money from the ones who are interested. These websites are usually very smooth and fast, however, the level of user interaction is minimalistic.
Web 2.0
The next iteration of the internet was called the “web 2.0” or the “read-write” web. Now, users were not just idle visitors, they could create their own content and upload it to a website. Starting roughly around 2003 when the term was coined by Dale Dougherty, Vice President at O’Reilly Media, web 2.0 has taken over the world by storm. In just over a decade, it has completely redefined marketing and business operations.
Instagram Influencers can make or break a brand by posting one single photo, Yelp reviewers can destroy a restaurant by one single negative review. Audience reviews are critical when it comes to buying decisions. According to a survey, 90 percent of customers reading online reviews before purchasing and 88 percent of them trusting them as much as a personal recommendation.
Web 2.0’s main aim was to make the internet more democratic and make it as user-accessible as possible.
Web 3.0
Every time you buy something on Amazon, the website’s algorithm will look at the other items that people who have purchased your product went on buy and then recommends that to you. So, think about what is going on here. The website is learning from other users what your preferred choices can be and then use it to recommend to you what you may like. In essence, the website itself is learning and becoming more intelligent.
That, in a nutshell, is the very philosophy behind web 3.0. Web 1.0 was primarily driven by content that came from the business or the institution for its customers. Web 2.0 took things a little bit further by allowing users to upload and share their content on the website itself. Web 3.0 allows online applications and websites to receive information that’s on the Web and give new information/data to the users.
The 4 Properties of Web 3.0
To understand the nuances and subtleties of Web 3.0, let’s look at the four properties of Web 3.0:
Semantic Web
Thanks to semantic metadata, Web 3.0 will help in greater connectivity between data. As a result, the user experience evolves to another level of connectivity that leverages all the available information.
Artificial Intelligence
AI will allow websites to filter and present users the best data possible. Currently in web 2.0, we have started taking user opinions to help us understand the quality of a particular product/asset. Think of a website like Rotten Tomatoes where users get to vote on a list of movies. Movies with a higher rating are usually considered “good movies”. Lists like these help us get to the “good data” without going through “bad data.”
3D Graphics
Web 3.0 is going to change the future of the internet develops from the simple 2D web into a more realistic three-dimensional cyberworld. The three-dimensional design is being used extensively in websites and services in Web 3.0 such as online games, e-commerce, real-estate industry etc.
Ubiquitous
Ubiquitous means the idea of existing or being everywhere, especially at the same time i.e., omnipresent. We have already got this feature in Web 2.0. Think of social media websites like Instagram, users capture images on the camera and they can upload and distribute it online where they become their intellectual property. The image thus becomes accessible everywhere aka ubiquitous.
In the next blog we will look at the advantages and disadvantages of Web 3.0 and the various challenges that it has to overcome.
The past few years have been a crisis for security in crypto. As the asset class has increased popularity, more and more security breaks have been highlighted and more institutions targeted.
The burgeoning industry is ripe with opportunity, but also with risk. Two incidents that highlight this lapse in security spring to mind.
Back in January 2018, Coincheck Japan was targeted, with attackers succeeding in stealing $530 million worth of NEM tokens from the crypto exchange. It is one of the biggest crypto exchange heists in the relatively short history of the industry and stands alongside the infamous attack on Mt. Gox, when around 800,000 BTC was stolen — a sum worth over $6 billion today.
Further back in February 2016, the Bangladesh Bank was targeted. Thieves tried to steal a total of $850 million via properly authenticated transactions in ordering the Federal Reserve Bank of New York to transfer the money through the SWIFT network. While “only” $101 million was transferred to final beneficiaries in the Philippines and Sri Lanka, this ended up resulting in a whopping total of $81 million successfully stolen during the incident.
What do these incidents have in common? The complacency of the victims — central banks and top crypto exchanges — and their management of security credentials (be it passwords or private keys) in giving access to the transfer of fiat money or cryptocurrencies.
The SWIFT network used for the Bangladesh Bank and other similar heists was not hacked, the users of the network were. The blockchains utilized to transfer the NEM out of Coincheck and the BTC out of Mt Gox were not hacked, the exchanges — i.e., the users of these blockchains — were. Their systems and credentials were so poorly protected that hackers were able to take control and impersonate their victims with ease.
The SWIFT community reacted to these events by reinforcing cybersecurity controls, by identifying the weakest players and by ensuring hackers’ modus operandi were shared among the community to prevent further incidents. Has the crypto industry done the same and learned from its mistakes? Probably not at the level this issue deserves. Will 2020 see more collaboration to prevent these incidents or to enable the recovery of stolen funds in case of successful hacks? The jury is still out.
In 2020, more education and awareness will be required. Exchanges, funds, projects, foundations, and all the other crypto players servicing underlying customers must put in place the proper transparent and secure processes around the safekeeping of the assets of their customers. Most will rightfully opt for the outsourcing of that critical task to third-party custodians whose job is to do precisely that.
This year will hopefully also be the year when digital asset service providers such as crypto exchanges and custodians will not only collaborate about the implementation of the Financial Action Task Force rules but also about the exchange of information on hackers’ modus operandi and blacklisting of addresses.
By the end of the year, the cashing out of hacked funds should be so difficult — thanks to a more formal collaboration between players — that thieves will be discouraged from targeting cryptocurrency organizations.
Beyond the adoption of the right established technology, it is only when common-sense operational and business practices — those of segregation of duty, focus on core activities and established risk management — are put in place that the digital asset industry will become mainstream. Today, it is not, and now you know why.
XcelToken Plus is an ERC20 token on the Ethereum Blockchain Platformthat is fashioned to build, involve and foster a large crypto-community within the hospitality, retail and gaming sectors. XcelLab is delighted to announce that XcelToken Plus will now be available for trading on 14 Exchange Platforms.
One of the best ways to method the trading world is with an open mind, just like anything new that you want to learn. Get your loofa ready and absorb the following general trading strategies listed below:
Long/Short – These are basic verbiages that are being used in
the trading world. When a trader is in a “Long” trade this means that they have
bought something and are eager that the price will go up to make a profit. On
the other hand, when a trader is doing “Short” trades this means that the
trader sells what they have in hand.
Pairs Trade – Taking the idea of long/short
trading and making a profit on whether the price goes up or down. This obvious
strategy was not realized until the 80’s by people that love numbers.
Swing Trading Strategy – Swing trading is somewhere in the middle of
Day Trading and Trend Trading. This is because Day Trading is holding an asset
from a couple of seconds to a few hours but never more than a day. Trend
Trading, on the other hand, is when the trader looks for a longer timetable and
keeps the asset amid weeks to months. Swing day traders hold an asset for a pair
of days up to a few weeks.
Scalping – A trading style (not selling tickets for a
higher price) that is the most active one to date. This is because a trader
that follows scalping takes advantage of smaller gains but on a larger scale.
Multiple entries and exits will pile up and make a hefty sum.
Day Trading – As stated earlier day trading is the
buying/selling of assets within the same day.
Trading on the News – Transaction on the news simply or generally
means trading in times where something “happens” like a terrorist attack or
normal tragedy that forces the asset to plummet.
Use these general trading strategies on any of the 14 platforms that XcelToken Plus is listed on and make the most of your tokens.
XcelToken is an ERC20 token on the Ethereum Blockchain Platform that is created to build, engage and foster a large crypto-community within the hospitality, retail and gaming sectors. With more than 100,000 token holders, XcelToken is now getting an upgrade. XcelLab is proud to announce that XcelToken will now be available for trading on MERCATOX from the 15th of May, 2019. To know more about MERCATOX, keep reading on.
MERCATOX
MERCATOX
is a unique creation in the world of digital money, based on multi-lingual
platform, that combines automated trading, payment service, Peer-to-Peer
sharing based on “smart contracts” and many other features. They plan to
provide not only services with different abilities, they also want to create a
new financial market in the digital world. They connect all the n-number of
electronic money systems on one single platform.
XcelToken is adopted into usage on XcelTrip– an online travel booking platform where you can check-in at over 800,000 hotels and book tickets with over 400 airlines, XcelPay– a merchant POS and digital payment wallet through which you can now recharge your phones with 900 different carrier services and in 160 countries, with cryptocurrency. The token will also be adopted into multiple use-cases soon.
Get
excited and sign up to the above exchange to start trading the new and improved
XcelToken from the 15th of May, 2019. More
information to follow….
XcelToken is an ERC20 token on the Ethereum Blockchain Platformthat is created to build, engage and foster a large crypto-community within the hospitality, retail and gaming sectors. With more than 100,000 token holders, XcelToken is now getting an upgrade. XcelLab is proud to announce that XcelToken will now be available for trading on LIVECOIN from the 15th of May, 2019. To know more about LIVECOIN, keep reading on.
LIVECOIN
LIVECOIN
exchange is designed to help those that re motivated people to benefit from the
opportunities offered by technology of the decentralised distributed access to
digital assets. They believe that based o their exchange the community will
find a convenient and beneficial to peruse their goals to grow their capitals
and to win.
LIVECOIN
is a safe, modern trading platform for cryptocurrency with a simple user
interface and low trading fee, it is one of the best platforms there is for
exchange of cryptos. Their support communication services are provided 7 days a
week in /Russian, English and Chinese.
XcelToken is adopted into usage on XcelTrip– an online travel booking platform where you can check-in at over 800,000 hotels and book tickets with over 400 airlines, XcelPay– a merchant POS and digital payment wallet through which you can now recharge your phones with 900 different carrier services and in 160 countries, with cryptocurrency. The token will also be adopted into multiple use-cases soon.
Get
excited and sign up to the above exchange to start trading the new and improved
XcelToken from the 15th of May, 2019. More
information to follow….
Future Of Cryptocurrency 