What is margin trading? | Coinbase Pro Help

margin trading on Coinbase Pro

I know Gdax had Margin trading up to 3x just last year, then they removed it later. Are we ever going to see it come back to Coinbase Pro in the near feature? Perhaps someone from Coinbase can give us an estimated date? Thanks!
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Margin Trading Error

Hi All,
I had a question about margin trading on coinbase pro, is it currently enabled or are people still put on a waitlist to partake in margin. I have been trying to enable my account for margin trading but I keep getting an error at the last step saying "There was an error enabling margin! Please try again later." Wondering if there was a particular reason why this might be.
Thanks,
Victor Gofron
submitted by Futureprimitive1 to CoinBase [link] [comments]

Margin trading is now available on Coinbase Pro

Margin trading is now available on Coinbase Pro submitted by mediumbot to mediumbot [link] [comments]

Margin trading is now available on Coinbase Pro

Margin trading is now available on Coinbase Pro submitted by mediumbot to mediumbot [link] [comments]

Margin trading is now available on Coinbase Pro

Margin trading is now available on Coinbase Pro submitted by mediumbot to mediumbot [link] [comments]

Margin Trading Brought in on Coinbase Pro but only for Certain Users

submitted by n4bb to CoinPath [link] [comments]

Margin trading is now available on Coinbase Pro

Margin trading is now available on Coinbase Pro submitted by DarkestChaos to crypt0snews [link] [comments]

Yield Farming in DeFi — the Evolution outcome of the Crypto Industry

Yield Farming in DeFi — the Evolution outcome of the Crypto Industry

Yield Farming in DeFi — the Evolution outcome of the Crypto Industry
Yield Farming (income farming) is one of the key trends actively developing in DeFi. Thanks to this earnings strategy, the Compound project has recently taken off, ranking first in terms of the number of user funds blocked in the protocol.
The Yield Farming investment strategy, or income pharming, is to generate income from the placement of cryptocurrencies on various DeFi-platforms for crypto-lending. Before Yield Farming, the main trend in DeFi was conventional cryptocurrency deposits, bringing in 4–10% returns. However, Yield Farming can generate up to 100% annualized income.

Yield Farming is the main driver of the DeFi sector

The number of cryptocurrencies locked in DeFi (Total Value Locked — TVL) is now $2.29 billion. At the same time, over the past month, the capitalization of funds in DeFi has more than doubled, largely due to the popularity of income pharming. At the same time, the top five DeFi protocols attracted $2.1 billion in crypto assets, or 91.7% of the total TVL volume.
• Compound — $690.8 million
• MakerDAO — $644.7 million
• Synthetix — $396 million
• Aave — $192.4 million
• Balancer — $178.2 million
And the total number of users of these projects was about 230,000.
The sharp rise in interest in Yield Farming is associated with one of the new protocols on the market — Compound. Users of this platform can provide loans or take out loans in nine different cryptocurrencies, for which they receive COMP project tokens. With these tokens, Compund users can make decisions about its future development. In other words, conditional “shares” of the Compound project are distributed to those who provide liquidity to the platform, as well as to those who take loans on it. This largely corresponds to the concept of SAFG (“a simple agreement on the possibility of obtaining the right to control in the future”) as a logical development of other principles of distribution of tokens — SAFE and SAFT.

COMP for BAT

Issued daily at 2880 COMP, which is equivalent to $518,688 at a token price of $180.1. Half goes to liquidity providers, half to borrowers. At the same time, distribution is carried out to each of nine markets (BAT, ETH, USDC, USDT, Dai, REP, 0x and Sai) — to everyone who borrows or takes loans from Compound, in proportion to the interest rate, as well as to their payments for interest or income. The higher the rates for a loan or loan, the more COMP tokens are paid.
At the same time, Compound is constantly updating its token distribution rules. So, according to the latest update from July 2, COMP payments begin to be made based not on interest rates, but on the dollar value of the funds in the transaction. This should eventually lead to more use of stablecoins. For them, borrowing rates can be less than 1%, which is ten times less than for the most volatile asset in DeFi — the BAT token.
It is worth noting that until recently, Compound users received the maximum number of COMP tokens for transactions with BAT. As a result, for the period from June 19 to July 2, the volume of transactions with this asset reached $931 million, which exceeded the total turnover of Ethereum and DAI for the same period. However, another change in the rules sharply increased the volumes of DAI and USDC.

Yield Farming: Borrowing Is Better Than Lending

The changes did not affect the main advantage of Compound — the COMP tokens received by users still cover the cost of borrowing in cryptocurrencies. In other words, Compound users find it more profitable to borrow than borrow (as noted, for example, with the Tether stablecoin). Payments of COMP tokens to borrowers look like a cryptocurrency cashback for participation in the platform — this can be viewed as if, for example, American Express bank shared a small share in the share capital with users for each transaction.
This Compound policy has led to a sharp increase in loans, as well as increased income for those providing liquidity, as they also receive COMP tokens for participating in the platform. Moreover, this cashback is a plus to the interest earned on borrowed cryptocurrencies. Moreover, since borrowers receive payments on loans, liquidity providers can use their own assets to borrow more funds. As a result, their income increases and they again provide liquidity to Compound.

Not only Compound

Compound was not the only one that played an important role in popularizing Yield Farming. So, Aave makes it possible to borrow cryptocurrencies at a fixed rate, and then place them in order to generate income. Aave’s fixed rate is usually higher than Compound’s variable, which means Aave gives more income to those who provide crypto loans. There are also liquidity pools, such as Uniswap, which offer large returns (sometimes at 100% annualized rate), but with higher risks.
While the price of СOMP shows a clear downward trend (research of the Delta Exchange platform claims that this token is five times overvalued), Compound is overgrown with competitors. So, on June 22, the COMP token cost $327.82 (on the day of listing on Coinbase Pro, June 23, at the moment the cost even rose to $427), and on July 12 it was already $180.1. The fall of СOMP is noticeable, but it is worth noting that at the beginning of its emission the token cost only $16. Moreover, about 80% of COMP tokens are distributed among the top 10 addresses in Compound, and the volume of tokens in free circulation is $686 million, which corresponds to a free-float indicator of 38%. It is not high, and this will contribute to the strong volatility of COMP.
Against the background of a decrease in the cost of COMP, the Balancer platform, which provides crypto lending services from a pool of various ERC20 tokens, began distributing 145,000 native BAL tokens to liquidity providers every week. These tokens, like COMP, provide the right to participate in the management of the platform. Of the maximum possible issue of BAL 100 million, 65% will go towards payments.

Risks of Yield Farming

Despite the popularity of Yield Farming among DeFi players, this trend is not without its pitfalls. For example, Ethereum co-founder Vitalik Buterin continues to criticize DeFi, stating that “interest rates that are significantly higher than you can get when working in the field of traditional finance are either an opportunity for temporary arbitrage or are obtained at the expense of not publicly disclosed risks.”
Indeed, when using Yield Farming, the following risks should be borne in mind:
• Cryptocurrencies can be stolen from the platform they are hosted on.
• The participant may borrow too much funds in relation to the crypto deposit placed by him (trading with high leverage), as a result of which the collateral may be lost.
• The collapse of cryptocurrency rates. This factor can be realized if, for example, it turns out that some stablecoins in reality do not have the declared 1:1 collateral.
• The Compound platform will no longer reward borrowers and lenders with COMP tokens. According to the statements of the project team, the program will operate over the next four years — during this time 42% of the total token emission will be distributed. However, the site has the right to change the rules.
• Systemic risk, within which even small changes in the core principles of Yield Farming can provoke a very strong transformation of this strategy and affect its popularity.
• Scam tokens. Due to the simple asset listing system on the Uniswap site, assets such as a copy of the Balancer token, fake coins of the Curve Finance project, the DYDX token, which can be confused with dYdX, and the Uniswap Community Token, which is not related to the platform itself, appeared on it. As a result, the site issued a warning about an increase in the number of fake ERC20 tokens.

Yield Farming gives hope for the growth of cryptocurrency quotes

But how does Yield Farming affect the crypto market in general? Over the last week of June and the first ten days of July, an additional 2,430 bitcoins were added to Compound, in addition to the 170 already available at that time. The Balancer platform during the same time saw an influx of bitcoins from 126 to 1787. In total, for the implementation of Yield Farming, DeFi protocols are now more than 12,000 BTC. Potentially, an increase in the inflow of bitcoins into this sector of the cryptocurrency market can play a positive role in relation to the dynamics of the growth of quotations of the first cryptocurrency. After all, the growing popularity of Yield Farming supports interest in BTC, which is especially important given that in July, the turnover of this cryptocurrency trade fell by 31% compared to June.
Since most of the DeFi projects are based on the Ethereum blockchain and use the assets of this ecosystem, ether can potentially get an incentive for strong growth. Although the example of XRP and the development of innovations from Ripple shows that such market success is not guaranteed. It is also symbolic that the total capitalization of ERC20 tokens has reached $33 billion, exceeding the total capitalization of ether ($26.6 billion). Messari analyst Ryan Watkins, commenting on this data, said that ether has shown a very modest growth over the past two months, only 20%.
The continued growth in interest in stablecoins and the increase in trading volume with them is also driven by their popularity at Yield Farming. Along with this, stablecoins, which have long become a “bridge” between the world of classical finance and the cryptosphere, also contribute to the rapid emergence of various CBDCs on the market.

Yield Farming meets institutional investors

Yield Farming has become a natural stage in the evolution of the cryptocurrency ecosystem. However, its further destiny, like all DeFi areas, is directly related to ensuring reliable cybersecurity. This is also important from the point of view of investors who invest in infrastructure: it’s a shame, for example, that the dForce platform faced the theft of $24 million in assets, having received $1.5 million in funding from investors a few days earlier.
In this connection, venture funds from Silicon Valley are being invested in the development of infrastructure for Yield Farming. So, ParaFi is investing $4.5 million in Aave, supporting a platform that offers instant cryptocurrency loans without collateral. These are high-risk transactions for the borrower, but it is important that Aave develops further. So, it has service integration with Uniswap. Moreover, Aave became the first DeFi protocol to work with the Tether stablecoin. Plus, the platform now offers a new product — credit delegation, when a depositor can lend their assets to a specific member of the platform in a collateral-free scheme. Both parties enter into a loan agreement, which, thanks to the integration of Aave with OpenLaw, allows such a contract to be securely stored on the blockchain. In fact, this is a real exit for DeFi with Yield Farming to the classic financial market, to work with institutional investors as well.
There is also a trend towards the integration of various platforms into DeFi, which thereby help each other grow. Thus, internal tokens and “synthetic” tokens (cTokens) Compound began to be used in Uniswap. And three projects at once — Synthetix, Curve and Ren — launched a joint pool providing liquidity in the form of tokenized bitcoins.
Also in a short period of time, insurance products targeted at Yield Farming members, such as Nexus Mutual, began to appear on the market. Now the Nexus Mutual team has insured assets in the amount of $8.5 million. Curve Finance is most interested in this opportunity ($1.6 million of assets are insured). Cryptocurrencies for an average of $700,000 are also insured on the Balancer, Compound, Aave and 1inch.exchange platforms.
Yield Farming, along with decentralized insurance products, confirms the opinion of analyst Chris Burniske, who emphasized that DeFi recreates all the elements that are found in classic finance, but on a new, innovative basis. So it cannot be said that Yield Farming is a short-term trend. This segment of the cryptosphere will continue to evolve despite the decline in net margin in it, as seen in the example of Compound.
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Crypto Banking Wars: Will Coinbase or Binance Become The Bank of The Future?

Crypto Banking Wars: Will Coinbase or Binance Become The Bank of The Future?
Can the early success of major crypto exchanges propel them to winning the broader consumer finance market?
https://reddit.com/link/i48t4q/video/v4eo10gom7f51/player
This is the first part of Crypto Banking Wars — a new series that examines what crypto-native company is most likely to become the bank of the future. Who is best positioned to reach mainstream adoption in consumer finance?
While crypto allows the world to get rid of banks, a bank will still very much be necessary for this powerful technology to reach the masses. We believe a crypto-native company, like Genesis Block, will become the bank of the future.
In an earlier series, Crypto-Powered, we laid out arguments for why crypto-native companies have a huge edge in the market. When you consider both the broad spectrum of financial use-cases and the enormous value unlocked through these DeFi protocols, you can see just how big of an unfair advantage blockchain tech becomes for companies who truly understand and leverage it. Traditional banks and fintech unicorns simply won’t be able to keep up.
The power players of consumer finance in the 21st century will be crypto-native companies who build with blockchain technology at their core.
The crypto landscape is still nascent. We’re still very much in the fragmented, unbundled phase of the industry lifecycle. Beyond what Genesis Block is doing, there are signs of other companies slowly starting to bundle financial services into what could be an all-in-one bank replacement.
So the key question that this series hopes to answer:
Which crypto-native company will successfully become the bank of the future?
We obviously think Genesis Block is well-positioned to win. But we certainly aren’t the only game in town. In this series, we’ll be doing an analysis of who is most capable of thwarting our efforts. We’ll look at categories like crypto exchanges, crypto wallets, centralized lending & borrowing services, and crypto debit card companies. Each category will have its own dedicated post.
Today we’re analyzing big crypto exchanges. The two companies we’ll focus on today are Coinbase (biggest American exchange) and Binance (biggest global exchange). They are the top two exchanges in terms of Bitcoin trading volume. They are in pole position to winning this market — they have a huge existing userbase and strong financial resources.
Will Coinbase or Binance become the bank of the future? Can their early success propel them to winning the broader consumer finance market? Is their growth too far ahead for anyone else to catch up? Let’s dive in.
https://preview.redd.it/lau4hevpm7f51.png?width=800&format=png&auto=webp&s=2c5de1ba497199f36aa194e5809bd86e5ab533d8

Binance

The most formidable exchange on the global stage is Binance (Crunchbase). All signs suggest they have significantly more users and a stronger balance sheet than Coinbase. No other exchange is executing as aggressively and relentlessly as Binance is. The cadence at which they are shipping and launching new products is nothing short of impressive. As Tushar Jain from Multicoin argues, Binance is Blitzscaling.
Here are some of the products that they’ve launched in the last 18 months. Only a few are announced but still pre-launch.
Binance is well-positioned to become the crypto-powered, all-in-one, bundled solution for financial services. They already have so many of the pieces. But the key question is:
Can they create a cohesive & united product experience?

Binance Weaknesses

Binance is strong, but they do have a few major weaknesses that could slow them down.
  1. Traders & Speculators Binance is currently very geared for speculators, traders, and financial professionals. Their bread-and-butter is trading (spot, margin, options, futures). Their UI is littered with depth charts, order books, candlesticks, and other financial concepts that are beyond the reach of most normal consumers. Their product today is not at all tailored for the broader consumer market. Given Binance’s popularity and strength among the pro audience, it’s unlikely that they will dumb down or simplify their product any time soon. That would jeopardize their core business. Binance will likely need an entirely new product/brand to go beyond the pro user crowd. That will take time (or an acquisition). So the question remains, is Binance even interested in the broader consumer market? Or will they continue to focus on their core product, the one-stop-shop for pro crypto traders?
  2. Controversies & Hot Water Binance has had a number of controversies. No one seems to know where they are based — so what regulatory agencies can hold them accountable? Last year, some sensitive, private user data got leaked. When they announced their debit card program, they had to remove mentions of Visa quickly after. And though the “police raid” story proved to be untrue, there are still a lot of questions about what happened with their Shanghai office shut down (where there is smoke, there is fire). If any company has had a “move fast and break things” attitude, it is Binance. That attitude has served them well so far but as they try to do business in more regulated countries like America, this will make their road much more difficult — especially in the consumer market where trust takes a long time to earn, but can be destroyed in an instant. This is perhaps why the Binance US product is an empty shell when compared to their main global product.
  3. Disjointed Product Experience Because Binance has so many different teams launching so many different services, their core product is increasingly feeling disjointed and disconnected. Many of the new features are sloppily integrated with each other. There’s no cohesive product experience. This is one of the downsides of executing and shipping at their relentless pace. For example, users don’t have a single wallet that shows their balances. Depending on if the user wants to do spot trading, margin, futures, or savings… the user needs to constantly be transferring their assets from one wallet to another. It’s not a unified, frictionless, simple user experience. This is one major downside of the “move fast and break things” approach.
  4. BNB token Binance raised $15M in a 2017 ICO by selling their $BNB token. The current market cap of $BNB is worth more than $2.6B. Financially this token has served them well. However, given how BNB works (for example, their token burn), there are a lot of open questions as to how BNB will be treated with US security laws. Their Binance US product so far is treading very lightly with its use of BNB. Their token could become a liability for Binance as it enters more regulated markets. Whether the crypto community likes it or not, until regulators get caught up and understand the power of decentralized technology, tokens will still be a regulatory burden — especially for anything that touches consumers.
  5. Binance Chain & Smart Contract Platform Binance is launching its own smart contract platform soon. Based on compatibility choices, they have their sights aimed at the Ethereum developer community. It’s unclear how easy it’ll be to convince developers to move to Binance chain. Most of the current developer energy and momentum around smart contracts is with Ethereum. Because Binance now has their own horse in the race, it’s unlikely they will ever decide to leverage Ethereum’s DeFi protocols. This could likely be a major strategic mistake — and hubris that goes a step too far. Binance will be pushing and promoting protocols on their own platform. The major risk of being all-in on their own platform is that they miss having a seat on the Ethereum rocket ship — specifically the growth of DeFi use-cases and the enormous value that can be unlocked. Integrating with Ethereum’s protocols would be either admitting defeat of their own platform or competing directly against themselves.

Binance Wrap Up

I don’t believe Binance is likely to succeed with a homegrown product aimed at the consumer finance market. Their current product — which is focused heavily on professional traders and speculators — is unlikely to become the bank of the future. If they wanted to enter the broader consumer market, I believe it’s much more likely that they will acquire a company that is getting early traction. They are not afraid to make acquisitions (Trust, JEX, WazirX, DappReview, BxB, CoinMarketCap, Swipe).
However, never count CZ out. He is a hustler. Binance is executing so aggressively and relentlessly that they will always be on the shortlist of major contenders.
https://preview.redd.it/mxmlg1zqm7f51.png?width=800&format=png&auto=webp&s=2d900dd5ff7f3b00df5fe5a48305d57ebeffaa9a

Coinbase

The crypto-native company that I believe is more likely to become the bank of the future is Coinbase (crunchbase). Their dominance in America could serve as a springboard to winning the West (Binance has a stronger foothold in Asia). Coinbase has more than 30M users. Their exchange business is a money-printing machine. They have a solid reputation as it relates to compliance and working with regulators. Their CEO is a longtime member of the crypto community. They are rumored to be going public soon.

Coinbase Strengths

Let’s look at what makes them strong and a likely contender for winning the broader consumer finance market.
  1. Different Audience, Different Experience Coinbase has been smart to create a unique product experience for each audience — the pro speculator crowd and the common retail user. Their simple consumer version is at Coinbase.com. That’s the default. Their product for the more sophisticated traders and speculators is at Coinbase Pro (formerly GDAX). Unlike Binance, Coinbase can slowly build out the bank of the future for the broad consumer market while still having a home for their hardcore crypto traders. They aren’t afraid to have different experiences for different audiences.
  2. Brand & Design Coinbase has a strong product design team. Their brand is capable of going beyond the male-dominated crypto audience. Their product is clean and simple — much more consumer-friendly than Binance. It’s clear they spend a lot of time thinking about their user experience. Interacting directly with crypto can sometimes be rough and raw (especially for n00bs). When I was at Mainframe we hosted a panel about Crypto UX challenges at the DevCon4 Dapp Awards. Connie Yang (Head of Design at Coinbase) was on the panel. She was impressive. Some of their design philosophies will bode well as they push to reach the broader consumer finance market.
  3. USDC Stablecoin Coinbase (along with Circle) launched USDC. We’ve shared some stats about its impressive growth when we discussed DeFi use-cases. USDC is quickly becoming integrated with most DeFi protocols. As a result, Coinbase is getting a front-row seat at some of the most exciting things happening in decentralized finance. As Coinbase builds its knowledge and networks around these protocols, it could put them in a favorable position to unlock incredible value for their users.
  4. Early Signs of Bundling Though Coinbase has nowhere near as many products & services as Binance, they are slowly starting to add more financial services that may appeal to the broader market. They are now letting depositors earn interest on USDC (also DAI & Tezos). In the UK they are piloting a debit card. Users can now invest in crypto with dollar-cost-averaging. It’s not much, but it’s a start. You can start to see hints of a more bundled solution around financial services.

Coinbase Weaknesses

Let’s now look at some things that could hold them back.
  1. Slow Cadence In the fast-paced world of crypto, and especially when compared to Binance, Coinbase does not ship very many new products very often. This is perhaps their greatest weakness. Smaller, more nimble startups may run circles around them. They were smart to launch Coinbase Ventures where tey invest in early-stage startups. They can now keep an ear to the ground on innovation. Perhaps their cadence is normal for a company of their size — but the Binance pace creates quite the contrast.
  2. Lack of Innovation When you consider the previous point (slow cadence), it’s unclear if Coinbase is capable of building and launching new products that are built internally. Most of their new products have come through acquisitions. Their Earn.com acquisition is what led to their Earn educational product. Their acquisition of Xapo helped bolster their institutional custody offering. They acqui-hired a team to help launch their staking infrastructure. Their acquisition of Cipher Browser became an important part of Coinbase Wallet. And recently, they acquired Tagomi — a crypto prime brokerage. Perhaps most of Coinbase’s team is just focused on improving their golden goose, their exchange business. It’s unclear. But the jury is still out on if they can successfully innovate internally and launch any homegrown products.
  3. Talent Exodus There have been numerous reports of executive turmoil at Coinbase. It raises a lot of questions about company culture and vision. Some of the executives who departed include COO Asiff Hirji, CTO Balaji Srinivasan, VP & GM Adam White, VP Eng Tim Wagner, VP Product Jeremy Henrickson, Sr Dir of Eng Namrata Ganatra, VP of Intl Biz Dan Romero, Dir of Inst Sales Christine Sandler, Head of Trading Hunter Merghart, Dir Data Science Soups Ranjan, Policy Lead Mike Lempres, Sr Compliance Vaishali Mehta. Many of these folks didn’t stay with Coinbase very long. We don’t know exactly why it’s happening —but when you consider a few of my first points (slow cadence, lack of innovation), you have to wonder if it’s all related.
  4. Institutional Focus As a company, we are a Coinbase client. We love their institutional offering. It’s clear they’ve been investing a lot in this area. A recent Coinbase blog post made it clear that this has been a focus: “Over the past 12 months, Coinbase has been laser-focused on building out the types of features and services that our institutional customers need.” Their Tagomi acquisition only re-enforced this focus. Perhaps this is why their consumer product has felt so neglected. They’ve been heavily investing in their institutional services since May 2018. For a company that’s getting very close to an IPO, it makes sense that they’d focus on areas that present strong revenue opportunities — as they do with institutional clients. Even for big companies like Coinbase, it’s hard to have a split focus. If they are “laser-focused” on the institutional audience, it’s unlikely they’ll be launching any major consumer products anytime soon.

Coinbase Wrap Up

At Genesis Block, we‘re proud to be working with Coinbase. They are a fantastic company. However, I don’t believe that they’ll succeed in building their own product for the broader consumer finance market. While they have incredible design, there are no signs that they are focused on or capable of internally building this type of product.
Similar to Binance, I think it’s far more likely that Coinbase acquires a promising young startup with strong growth.

Honorable Mentions

Other US-based exchanges worth mentioning are Kraken, Gemini, and Bittrex. So far we’ve seen very few signs that any of them will aggressively attack broader consumer finance. Most are going in the way of Binance — listing more assets and adding more pro tools like margin and futures trading. And many, like Coinbase, are trying to attract more institutional customers. For example, Gemini with their custody product.

Wrap Up

Coinbase and Binance have huge war chests and massive reach. For that alone, they should always be considered threats to Genesis Block. However, their products are very, very different than the product we’re building. And their approach is very different as well. They are trying to educate and onboard people into crypto. At Genesis Block, we believe the masses shouldn’t need to know or care about it. We did an entire series about this, Spreading Crypto.
Most everyone needs banking — whether it be to borrow, spend, invest, earn interest, etc. Not everyone needs a crypto exchange. For non-crypto consumers (the mass market), the differences between a bank and a crypto exchange are immense. Companies like Binance and Coinbase make a lot of money on their crypto exchange business. It would be really difficult, gutsy, and risky for any of them to completely change their narrative, messaging, and product to focus on the broader consumer market. I don’t believe they would ever risk biting the hand that feeds them.
In summary, as it relates to a digital bank aimed at the mass market, I believe both Coinbase and Binance are much more likely to acquire a startup in this space than they are to build it themselves. And I think they would want to keep the brand/product distinct and separate from their core crypto exchange business.
So back to the original question, is Coinbase and Binance a threat to Genesis Block? Not really. Not today. But they could be, and for that, we want to stay close to them.
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Coinbase support number ☎️+1⍰⌠833⍵905⍵2008⌡ ⍰ New York City ☠️ ☠️Coinbase support number

Coinbase support number ☎️+1(833-905-2008)
Coinbase support number ☎️+1(833-905-2008)
Coinbase support number ☎️+1(833-905-2008)
Coinbase support number ☎️+1(833-905-2008)
Coinbase provides the USD Wallet and also Hosted Cryptocurrency Wallet Service at no cost. What this means is we are going to store your cryptocurrency and USD at zero price to you. "Cryptocurrency" means some cryptocurrency currently backed by Coinbase. We don't charge for moving cryptocurrency from one Coinbase wallet to yet another. Coinbase incurs and also pays network transaction costs, like miner's costs, for transactions on cryptocurrency networks, i.e., transfers of cryptocurrency on the Coinbase platform. For these kind of transactions, Coinbase will charge you a fee based upon our estimation of the system transaction costs that we anticipate spending for every purchase. In specific conditions, the charge that Coinbase pays might differ from that estimation. All fees we charge you'll be disclosed at the time of your transaction.

Cryptocurrency Transactions

General

Along with receiving or sending cryptocurrency through Coinbase, buyers can

(1) Buy or even promote one cryptocurrency (a cryptocurrency buy or even cryptocurrency sale).

(2) Turn one kind of cryptocurrency into a new type of cryptocurrency (a cryptocurrency conversion). After signing within to Coinbase.com, choose the blue Trade button to see the display screen.

When you ask for a cryptocurrency transaction, Coinbase will attempt to pack that order through one or maybe far more orders on Coinbase's trading wedge, Coinbase Pro. Coinbase establishes the exchange number for cryptocurrency transactions (consumer exchange fee) by including a margin, or maybe spread (the spread), with the marketplace exchange rates on Coinbase Pro (Pro exchange fee). Coinbase may also charge a separate charge (in add-on on the range), possibly a flat fee, or maybe a portion on the transaction (the Coinbase Fee), as more discussed below inside the aisle entitled Buy/Sell Transactions. Coinbase Fees could vary based on the location of yours, other circumstances, and payment method. In some cases, we may charge an extra fee on transfers back and forth from your's bank account. We'll usually notify you of all Coinbase Fees (not like the margin) and other service fees which affect each transaction soon before you con? Rm each sale what about the receipt we issue to help you right after every purchase has digested.

Coinbase reserves the perfect to refuse a transaction if Coinbase cannot pack a corresponding purchase on Coinbase Pro as there have a lot of changes in the market price of a cryptocurrency. An investment exceeds the highest order dimensions on Coinbase Pro, or maybe an order timing out due to slow server response time. The Pro exchange fee might not be available in unusual situations thanks to outages or even regular maintenance. To supply you with uninterrupted providers at such time, we might gain market pricing data from unsafe? Listed currency switches. Exchange fees quoted in these conditions are subject to a quoted spread exceeding fifty basic points.
Coinbase support number ☎️+1(833-905-2008)
coinbase support phone number ☎️+1(833-905-2008)
coinbase technical support number ☎️+1(833-905-2008)
coinbase customer care number ☎️+1(833-905-2008)
Coinbase Toll free number ☎️+1(833-905-2008)
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What's the point of Soft Staking?

Apologies in advance for the long post. Skip it all for the TL;DR.
Because CDC exchange still doesn't allow fiat withdrawls, and only displays prices in USD, I've only recently started considering using it over Binance.je or Coinbase Pro. That's when I learned that CDC Exchange offers soft staking; you can earn interest on idle crypto in your exchange wallet (as long as you have a certain CRO stake); something wich the other exchanges never offered me.
At first I went "wow, can you beat that?", but then it occured to me: CDC also offers the Crypto Earn product on their app; wich for the record, I love and is earning me a pretty generous interest. And upon noticing the abismal difference in interest rates between Earn and Soft Stake, it makes me wonder: why on Earth would you use the Soft Staking?
Crypto Earn interest rates are allways higher than Soft Staking. In the best scenario, if you stake 100'000 CRO on the Exchange, you can earn 4% on USDT. But if you deposit that same USDT on Crypto Earn, the lowest scenario offers you 6%; without any MCO/CRO stake. This gets even more ridiculous in the case of CRO; the Exchange best offer is 5%, the App Earn lowest offer is 12%; again with no stake required. The lowest rates on Earn are better than the highest on Soft Staking.
Having your idle crypto earning interest in the Exchange makes sense, since your coins are ready to actively trade them at anytime; it gives you advantage in mobility and liquidity. But isn't that what the Flexible Term on Crypto Earn already offers you? The Flexible Term can be withdrawn at anytime, and you receive your coins within seconds.
The Soft Staking is (I guess) compounded interest, since it adds up to the coins you have idle in your wallet. The interests in Crypto Earn are not compounded; but again, with the Flexible Term you can just withdraw all and deposit it all again, at anytime, along with the earned interest.
On top of that, CDC allows you to transfer funds between the App and the Exchange instantly and for free.
You could just leave your idle coins in a Flexible term in Earn, and when you see a good opportunity on the Exchange, withdraw them and transfer them to make your trade. It's a hassle, sure, but it can be done in less than 1 minute; and if you are actively watching the markets, you are able to pull this off, since you are alert and during your "active trading hours" anyway. So unless you make margin trades by the second, this isn't "too slow" to make you miss a oportunity.
And if you don't trade everyday, the Soft Staking makes even less sense, since you can just transfer your coins back and forth between the Exchange and Crypto Earn for free, according to your trading schedule.
-----------------------------------------------------------------------------------------------------------------------------------------------------
TL;DR - What is the big advantage of Soft Staking? The Soft Staking only seems to make sense if you have high 30 Day volumes of trading, or buy/sell with "by-the-second precision". I'm also assuming that when you place orders on the order book, said coins aren't elligible for earning interest, since they'r technically not idle on your wallet. Maybe that's the big advantage? Allowing you to earn interest even on placed orders? I feel like I'm missing something obvious.
submitted by BoilingGarbage to Crypto_com [link] [comments]

Coinbase Support Number ♜ 1-812-785-1006 ♞ Cash App Customer Care Phone Number USA CANADA ##2020## UYCTRFG


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I see the error "account temporarily disabled." What should I do? | Coinbase Pro Help {1-812-785-1006}
Coinbase Bundles FAQ | Coinbase Pro Help {1-812-785-1006}
Coinbase pricing and fees disclosures | Coinbase Help {1-812-785-1006}
Where can I find the API documentation for Coinbase Pro? | Coinbase Pro Help {1-812-785-1006}
Bitcoin Gold FAQ | Coinbase Pro Help {1-812-785-1006}
Verifying your residential address | Coinbase Pro Help {1-812-785-1006}
Whats the difference between fix API and rest API? | Coinbase Pro Help {1-812-785-1006}
How to send and receive cryptocurrency | Coinbase Help {1-812-785-1006}
Phone-based attacks | Coinbase Help {1-812-785-1006}
Why will my password reset require 24 hours to process? | Coinbase Pro Help {1-812-785-1006}
Zcash (ZEC) FAQ | Coinbase Pro Help {1-812-785-1006}
What are the limits on Coinbase Pro? | Coinbase Pro Help {1-812-785-1006}
Does Coinbase freeze accounts? | Coinbase Pro Help {1-812-785-1006}
Tezos (XTZ) FAQ | Coinbase Pro Help {1-812-785-1006}
Account history and reports | Coinbase Pro Help {1-812-785-1006}
Password requirements | Coinbase Pro Help {1-812-785-1006}
ETH Byzantium Fork FAQ | Coinbase Pro Help {1-812-785-1006}
Is a 2-step verification code required for every login? | Coinbase Pro Help {1-812-785-1006}
Coinbase accounts-Hawaii | Coinbase Pro Help {1-812-785-1006}
Is Coinbase present on social media? | Coinbase Pro Help {1-812-785-1006}
Is this email really from Coinbase? | Coinbase Pro Help {1-812-785-1006}
How to contact Coinbase Pro support | Coinbase Pro Help {1-812-785-1006}
Avoiding cryptocurrency scams | Coinbase Pro Help {1-812-785-1006}
What is a transaction hash/hash ID? | Coinbase Pro Help {1-812-785-1006}
What are the eligibility requirements for US Margin Trading? | Coinbase Pro Help {1-812-785-1006}
Security keys FAQ | Coinbase Pro Help {1-812-785-1006}
How can I make my account more secure? | Coinbase Pro Help {1-812-785-1006}
Pro mobile app overview | Coinbase Pro Help {1-812-785-1006}
How can I close my account? | Coinbase Pro Help {1-812-785-1006}
How do I change my country or state? | Coinbase Pro Help {1-812-785-1006}
What is Litecoin? | Coinbase Pro Help {1-812-785-1006}
Signing up for a Coinbase Card | Coinbase Pro Help {1-812-785-1006}
Can I create a Coinbase Pro account in the name of a trust? | Coinbase Pro Help {1-812-785-1006}
How do I get a crypto address? | Coinbase Pro Help {1-812-785-1006}
What is Bitcoin? | Coinbase Pro Help {1-812-785-1006}
Best practices | Coinbase Pro Help {1-812-785-1006}
No verification link in email | Coinbase Pro Help {1-812-785-1006}
How does Coinbase use my ID? | Coinbase Pro Help {1-812-785-1006}
Address book and crypto withdrawal address whitelisting FAQ | Coinbase Pro Help {1-812-785-1006}
Coinbase User Margin Trading Agreement | Coinbase Pro Help {1-812-785-1006}
W8 information | Coinbase Pro Help {1-812-785-1006}
Submit a Complaint | Coinbase Help {1-812-785-1006}
Compound (COMP) FAQ | Coinbase Pro Help {1-812-785-1006}
Bankruptcy trustee guide | Coinbase Pro Help {1-812-785-1006}
SegWit FAQ | Coinbase Pro Help {1-812-785-1006}
Device confirmation troubleshooting | Coinbase Pro Help {1-812-785-1006}
How to send a complaint | Coinbase Pro Help {1-812-785-1006}
Reporting phishing sites | Coinbase Pro Help {1-812-785-1006}
Coinbase Money Transmission and e-Money Regulatory Compliance | Coinbase Pro Help {1-812-785-1006}
What is Coinbase card? | Coinbase Pro Help {1-812-785-1006}
Overview of the trade view | Coinbase Pro Help {1-812-785-1006}
Bitcoin glossary | Coinbase Pro Help {1-812-785-1006}
Bitcoin SegWit2x Fork FAQ for merchants | Coinbase Pro Help {1-812-785-1006}
Coinbase Tax Resource Center | Coinbase Pro Help {1-812-785-1006}
Security key restrictions | Coinbase Pro Help {1-812-785-1006}
Form 1099-K Tax Information for Coinbase Pro and Prime | Coinbase Pro Help {1-812-785-1006}
Funding your account with GBP | Coinbase Pro Help {1-812-785-1006}
Address formatting standards | Coinbase Custody Help
Who do I contact for a subpoena request or dispute or to send a legal document? | Coinbase Pro Help {1-812-785-1006}
Funding your account with cryptocurrency | Coinbase Pro Help {1-812-785-1006}
Why am I unable to upload my ID? | Coinbase Pro Help {1-812-785-1006}
EOS (EOS) FAQ | Coinbase Pro Help {1-812-785-1006}
ID document verification | Coinbase Pro Help {1-812-785-1006}
Bitcoin Fork FAQ | Coinbase Pro Help {1-812-785-1006}
International support | Coinbase Pro Help {1-812-785-1006}
International support for Coinbase Pro | Coinbase Pro Help {1-812-785-1006}
Ethereum Classic (ETC) FAQ | Coinbase Pro Help {1-812-785-1006}
Destination Tag/memo FAQ | Coinbase Pro Help {1-812-785-1006}
Coinbase update on November 2018 BCH Hard Fork | Coinbase Pro Help {1-812-785-1006}
Orchid FAQ | Coinbase Pro Help {1-812-785-1006}
Payment methods for US customers | Coinbase Help {1-812-785-1006}
DAI FAQ | Coinbase Pro Help {1-812-785-1006}
Coinbase Help {1-812-785-1006}
CashAddr FAQ | Coinbase Pro Help {1-812-785-1006}
How to open a Coinbase Pro account | Coinbase Pro Help {1-812-785-1006}
Coinbase Custody Help
How to access privacy settings and make requests | Coinbase Pro Help {1-812-785-1006}
Managing Google Authenticator | Coinbase Pro Help {1-812-785-1006}
Stellar Lumens (XLM) FAQ | Coinbase Help {1-812-785-1006}
Supported cryptocurrencies | Coinbase Pro Help {1-812-785-1006}
API developer terms | Coinbase Pro Help {1-812-785-1006}
2-step verification FAQ | Coinbase Help {1-812-785-1006}
How can I update my legal name? | Coinbase Pro Help {1-812-785-1006}
How do I set up 2-factor authentication? | Coinbase Pro Help {1-812-785-1006}
Lost email access | Coinbase Pro Help {1-812-785-1006}
FAQ on API | Coinbase Pro Help {1-812-785-1006}
Applying for a Coinbase business account | Coinbase Pro Help {1-812-785-1006}
Bitcoin SV FAQ | Coinbase Pro Help {1-812-785-1006}
How to withdraw funds from a closed account | Coinbase Pro Help {1-812-785-1006}
I can't remember my password | Coinbase Pro Help {1-812-785-1006}
Slippage warning | Coinbase Pro Help {1-812-785-1006}
How do I verify my identity when using the mobile app? | Coinbase Help {1-812-785-1006}
Margin Trading FAQ | Coinbase Pro Help {1-812-785-1006}
Where can I spend Bitcoin? | Coinbase Pro Help {1-812-785-1006}
What is the Bitcoin Blockchain? | Coinbase Pro Help {1-812-785-1006}
Invest responsibly: recommended account management practices | Coinbase Pro Help {1-812-785-1006}
Privacy data request FAQ | Coinbase Pro Help {1-812-785-1006}
Landlines and 2-step verification | Coinbase Pro Help {1-812-785-1006}
Reset my password | Coinbase Pro Help {1-812-785-1006}
I have lost or need to update my phone or 2-step verification device | Coinbase Pro Help {1-812-785-1006}
Is Bitcoin secure? Has this network ever been hacked? | Coinbase Pro Help {1-812-785-1006}
Account recovery FAQ | Coinbase Pro Help {1-812-785-1006}
Dash (DASH) FAQ | Coinbase Pro Help {1-812-785-1006}
Cosmos (ATOM) FAQ | Coinbase Pro Help {1-812-785-1006}
Verifying your identity | Coinbase Pro Help {1-812-785-1006}
How is Coinbase insured? | Coinbase Pro Help {1-812-785-1006}
Minimum age requirement | Coinbase Pro Help {1-812-785-1006}
What is a Bitcoin wallet? | Coinbase Pro Help {1-812-785-1006}
Adding a payment method | Coinbase Pro Help {1-812-785-1006}
Basic Attention Token FAQ | Coinbase Pro Help {1-812-785-1006}
Prohibited regions | Coinbase Pro Help {1-812-785-1006}
Coinbase Pro Help {1-812-785-1006}
2-step verification FAQ | Coinbase Pro Help {1-812-785-1006}
Kyber (KNC) 101 | Coinbase Pro Help {1-812-785-1006}
Using Destination Tag on Coinbase Pro | Coinbase Pro Help {1-812-785-1006}
Does Coinbase Pro support smart contracts? | Coinbase Pro Help {1-812-785-1006}
Phone-based attacks | Coinbase Help {1-812-785-1006}
What are the eligibility requirements for US Margin Trading? | Coinbase Pro Help {1-812-785-1006}
submitted by PersonalDoctor to u/PersonalDoctor [link] [comments]

Coinbase Pro launches margin trading

Some info on Coinbase.
Resources:
submitted by SsurebreC to BitcoinMarkets [link] [comments]

So I've been using DyDx as a decentralized ethereum exchange for a little while now. From no signup needed, to interest on deposits, to margin trading, it's pretty f-ing cool!

With the big dip this morning, I woke up and realized it was far easier for me to do some trading on DyDx compared to other exchanges. I really dig that it's decentralized as well. https://trade.dydx.exchange
Pros
Cons
submitted by nitslitinit to ethtrader [link] [comments]

Non-KYC Exchange like BitMex for USA Residents

Looks like BitMex is implementing KYC soon on their exchange which will cause chaos since a lot of USA residents trade there.
Are there any alternatives to BitMex that allow USA residents?
The only one I have used is the margin on Coinbase Pro but it’s pretty confusing and wouldn’t suggest using at all, I also tried FTX but it’s also blocked to USA residents
Please share any other exchange available to USA residents for margin trading.
Maybe Gemini? But I seen so many flash crashes on that exchange I wouldn’t touch it with a 10 foot poll
submitted by Brett-Collins to CryptoCurrency [link] [comments]

Instant Crypto Exchanges

Instant Crypto Exchanges

What are instant crypto exchanges?

Even for veterans of the crypto industry, the role and functionality of instant crypto exchange may be unknown. You won't see Changelly, Shapeshift, and ChangeNOW on CoinMarketCap's top stock exchange list, and the name itself isn't particularly meaningful. What is an instant crypto exchange?
An instant crypto exchange is an exchange solution that typically aggregates prices and liquidity from multiple custody exchanges and offers a simple registration process with a simple exchange UX. This obviously differs significantly from custody exchanges such as Binance and OKEx, which protect your crypto, are limited to volume and prices on their exchange, offer lengthy login procedures and have a more professional trading interface.

Understand the benefits of instant crypto exchange

The differences between instant and traditional exchanges don't make you inherently better than the others - they are made for different use cases. As you develop an understanding of instant crypto exchange, you can determine which solution best suits your needs. Here are some of the potential benefits of opting for an immediate crypto exchange:
Money storage - security
Perhaps the most basic way in which Instant Crypto Exchange differs from its more traditional counterparts is how funds are kept. Instant crypto exchanges receive and deposit money right in your wallet, which means you keep custody - unlike custody exchanges that keep your assets for you.
As you know, not your keys, not your coins. By instantly storing your funds, instant crypto exchange gives you more control and security. If you practice good operational security, which usually includes not keeping your money in an exchange, the likelihood that an attacker would like to have access to your wallet is relatively small compared to the massive honeypots of custody exchanges.
In 2019, there were 12 exchange hacks with stolen funds in excess of $ 290 million. By using an instant crypto exchange, you can avoid the risk of a centralized exchange hack without having to keep moving your money to and from an exchange.
It should be noted that instant exchanges use traditional portfolio exchanges to execute an order. This means that the funds involved in trading are temporarily held by the underlying exchange for the duration of a transaction.
Registrations and user interface - easy to use
If you don't have a preferred exchange yet, the sign-up and registration process is a factor to consider when choosing an exchange.
Many of the traditional exchanges have lengthy registration processes that include identity verification and long processing times. In contrast, with many instant crypto exchanges, you can only exchange crypto-to-crypto trading pairs with an email, a mobile app, or a wallet address.
For example, with Changelly, you need to use an email or social media page to sign up for your account. This process takes minutes before you can trade. Not surprisingly, if you want to trade fiat-to-crypto, Changelly requires you to go through a Know Your Customer process and connect your bank account. However, purchases under $ 150 can be made without KYC.
Once you are connected to an exchange, you will also notice a big difference between the user interface of the moment and the traditional one. Instant crypto exchanges feel more like modern finance apps than trading terminals. They are elegant, easy to use and extremely intuitive.

instant exchanges
While this may seem minimalistic to an experienced trader, it is an extremely attractive option for those who just want to invest or make a single transaction. For comparison, power traders using options like Coinbase Pro see the following:
instant exchnages
As can be clearly seen, a traditional crypto exchange has much more information that an experienced trader can process and process. For users who want a simple onboarding and trading experience, instant crypto exchange offers a much easier alternative.
Aggregation and fixed / variable interest rates - price
If you are familiar with traditional crypto exchanges, you will know why Coinbase Pro's user interface is so extensive in comparison: you need to know the price and depth of the order book to be able to process your trade. This order book depth is exchange-specific - it only contains the orders received by Coinbase. Instant crypto exchanges, on the other hand, aggregate prices and liquidity from multiple exchanges, meaning that you get access to the best prices that these multiple exchanges offer, with lower liquidity and less risk of slipping.
These two solutions differ in the actual order. A common traditional exchange order type is a limit that instructs the system to execute the buy or sell order when the price reaches or exceeds a certain limit. This gives traders more flexibility and control over their trades.
Immediate crypto exchanges also have an advantageous function when executing trades: fixed or variable interest rates. A floating rate is carried at the best possible price at the time of the transaction, which may be slightly above or below the listed price due to market volatility. A fixed interest rate blocks a certain interest rate and guarantees that trading is carried out at this price, which in turn can be above or below the variable interest rate depending on market volatility.

The disadvantages of instant crypto exchange

It is clear that instant crypto exchange offers a number of advantages, but there are some notable disadvantages. Onboarding for an instant exchange is a quick and easy process, but requires the knowledge and use of a wallet.
For an inexperienced cryptocurrency user, the learning curve and responsibility for protecting your own crypto assets can prove to be an entry barrier. Users should do their research to understand exactly how wallets work, as lost money can usually not be recovered.
The use of wallets is the only place where an instant exchange actually requires more sophistication. Mostly, a more sophisticated approach accompanies traditional trading exchanges.
As with wallets and self-protection, however, greater sophistication can pay off. For custody exchanges, the sophistication of the interfaces described above offers extended trading options. These can be more sophisticated instruments such as derivatives, placing orders - such as stop limit orders - leverage and margin.
Finally, trading fees should be considered. Immediate crypto exchanges typically cost between 0.25 and 0.50%, while many traditional exchanges typically cost between 0.05 and 0.50%. Depending on your price sensitivity and the frequency of trading, a conventional exchange solution may make more sense.
submitted by jakkkmotivator to thecryptobasic [link] [comments]

Do Coinbase take a Margin?

So I want to trade bitcoin on coinbase and coinbase pro.
Why is the 5% fee so high on coinbase pro compared to other exchanges such as Kraken and CEX?
Also if you change between BTC and USDC on normal Coinbase what price is used? As for example I trade $1000 for BTC, they give me a price with a 5-10% margin?
submitted by iDeanoo to CoinBase [link] [comments]

(PSA: Coinbase Prime for Kin App Developers) Love & Loud Music Corp. has been approved for a Coinbase Prime account on the basis of needing it for Kin.

Disclaimer: I am posting this publicly in the spirit of open communication and for the tremendous boon it can provide to developers in the Kin ecosystem, not for speculative hype or to appease traders. While Kin has not yet been added to Coinbase, Custody, Prime, or Pro, they have openly announced that they are exploring the addition of the asset to both their institutional and retail line of products; this would fall under the former. To that end and in pursuit of professional solutions to various business development puzzles, LnL applied, and last week was approved. Onboarding was not a light process and their compliance team was thorough, asking several in-depth questions about the functionality of our app and use of Kin before approving us, so I don't believe this was a fluke. Credit to Dillon for suggesting and pointing out some genuine benefits of sharing this with the community and developers, as otherwise I would have just kept going about my business and opted to avoid creating unnecessary hype; this is, however, truly important.
Coinbase Prime, if this is an indication of upcoming support, will bring a number of valuable benefits to businesses dealing in Kin including:
If you are a Kin developer or business I highly recommend applying for an account for the above benefits. The ecosystem will only be stronger if we are all top shelf crypto businesses in terms of operations and development. Also the Kin ecosystem could very well provide more true demand for Coinbase's services than most if not all other crypto ecosystems just by virtue of its design (the entire incentive layer is for developers aka businesses to integrate Kin).
Be advised that to apply you will need to fill out a rather lengthy application along with the following:
You will probably also have to answer a multitude of questions with their compliance team, they definitely take it seriously.
Understand that this does not mean moon soon, hype, sauce, is not an advised speculative investment opportunity, and is especially not a reason to be distracted from the real hard work and progress being made by the developers who are taking a chance on this new way of monetizing their apps and actually building the vibrant ecosystem we all want to see. Please remember to be mindful of your interactions with others in the community!.
PLUG TIME 🔌: As you can see, Love & Loud Music is committed to building a long term vision with Kin at the center. We will not be aiming for any one reward payment and then fizzling out thereafter. We are prioritizing quality over all else; our goal is to create a top tier company that someday competes with the largest apps in the ecosystem in both user engagement and rewards. (Yes I really just said that). Despite our size and age we plan to lead the way from day one in creating new and exciting experiences, in pushing the boundaries of what's possible with Kin, and in helping to set the standard in reliability and professionalism not only among the KDP apps, not only within the Kin ecosystem, but also throughout the entire crypto industry. We are already thinking about the bigger picture, and our dedication to offering the highest quality services reflects that. Tapatalk, Vent, Rave, and then Kik, here is your friendly warning: I am coming for you. Better get those DAS up while you can. 🔫
PS - Fellow Kin devs, let this open communication and information sharing be a testament to our new paradigm: We are competing within but also incentivized to work together, to create the best possible ecosystem. Let's continue to help each other win. The cooperative competition, or "coopetition", has already begun. If you are a Kin app dev and would like to collaborate with us in some mutually beneficial way, please feel free to reach out! We have already begun working on collaborations with other apps for the future (our main focus right now is the production of our high quality native iOS app :)).
http://imgur.com/gallery/uCJr8CI
submitted by KricoyLL to KinFoundation [link] [comments]

An open letter to the community - We need to put our money where our mouths are and support decentralization and dApps

Hey everyone,
As I'm sure you all know full well, early adoption of crypto is primarily speculative trading, so this post is gonna focus mainly on the problems with trading in this space right now (centralized exchanges, regulations, lack of investment products, etc), and how we can shift our mindsets as a community to put our money where our mouth is and rally behind startups doing the right things (decentralized exchanges, dApps, protocols and necessary infrastructure).
Why? Because for the first time in history we have a disruptive new technology that can really change the landscape in every industry imaginable, and we are at the stage where we're planting the seeds of these new products and companies, so why not support the right ones so we can realize the future we're all envisioning?
I recently wrote an article on this on Hackernoon here: https://hackernoon.com/its-time-to-address-the-massive-problems-of-centralized-exchanges-ac2cfb66bef8, but I thought I'd expand on it and share my thoughts on how to move this space forward in terms of getting more dApp adoption and usage.

Who uses dApps anyways?

Blockgeeks just published a report on dApp usage for those interested, there is definitely some growth but since the bear market it has definitely tapered off: https://blockgeeks.com/guides/report-dapps-november-2018/
It's obviously nowhere near mainstream adoption, but it's a great start, so there's hope! There's definitely a ton of things that should immediately be addressed and are of high importance IMO, so I'm going to lay them out:

First, we need to address the massive problems of centralized exchanges

Bitcoin aside, the crypto space as a whole is still pretty young, the current experience of trading crypto assets is understandably a fragmented experience with scattered pockets of liquidity, and a highly technical and high friction process. But the irony is that we have the technology to avoid the security flaws that plague centralized exchanges and the adoption of crypto - decentralized trading.
There are a ton of centralized exchanges available to the public today, but a much smaller subset of these exchanges are properly regulated, not to mention trustworthy and reliable. I know the pro traders out there might say, "Well DEXes aren't fast enough, or I can't run bots on them yet". That's fair, but if you want to see them succeed some day, every trade helps. If it's a trade that you think is executable on a DEX, do it there instead of on a centralized one. That's how adoption happens, one user at a time.
While industry pioneers like Coinbase have pushed the space forward and newer entrants like Binance raised the bar for the alt-coin trading experience, the industry still suffers from constant hacks and malicious acts.
We need to stop relying on centralized trading/hot wallets as they are huge security risks As far as we know, over $1 billion worth of crypto assets have been hacked & stolen from centralized exchanges in 2018 alone.
Here's the biggest incidents in 2018:
The root cause of this is that centralized wallets are increasingly large honeypots.
The nature of a centralized exchange dictates that some trusted third party is storing the crypto assets of its users to create a pool of liquidity, this being done mostly by aggregating funds into exchange-owned digital wallets where assets from users are pooled into.
Millions of people could lose not just money but also their identity and data handed over to centralized exchanges as well.
While we're still in a bear market this may not happen as frequent, but it's reasonable to be expect that in the next bull-run the frequency and severity of attacks will only rise and a scenario in which an attack as widespread as the recent 50 million user Facebook hack — where both private data and money were stolen — could happen. There's already plenty of exchanges that are careless with handling user identity, handing over your personal ID is not a trivial matter and exchanges should follow the best practices to store and secure them if they're asking for them.

Second, we need clearer, more sensible regulation that fosters innovation and protects investors

This may be an unpopular opinion around these parts, but sensible regulation is good for both the industry and users, to ensure exchanges coming online meet certain requirements, so we're not operating and trading in this wild wild west of shady exchanges.
People who trade today need to have a pretty damn high appetite and tolerance for risk, not to mention an acute ability to discern legitimate investments from the rampant exit scams and phishing attacks. (Just see yesterday's thread about the guy's dad who bought into Onecoin on the advice of a "friend").
The vague stance on the part of governments also means many crypto startups operate in a regulatory grey area (I have first hand experience with this working in the space). The SEC only recently clarified that they view Bitcoin and Ethereum as not a security token, meaning it wouldn’t be subject to existing securities laws.
IMO the current lack of regulatory clarity has lead to a low barrier of entry for operating crypto exchanges, however this is starting to change as seen with the recent EtherDelta SEC charges, they're clearly making a statement now that you need to follow the laws when you open an exchange.
But we can do better, and push lawmakers to create more defined rules that we need to play by, and at the same time educate them so they understand not just the technology, but the implications and potential use cases and how we can get there while allowing companies to innovate, new startups to rise, all while protecting consumers. That way we'll have more legal clarity as the industry matures that is business friendly.

Third, we need a more diversified set of investment products/options for crypto. More wealth generated = more growth and adoption

Up until recently, you were only able to purchase tokens on their own from an exchange. Today, we are starting to see an emergence of basic index funds such as the new Coinbase Bundle and Bitwise. It wasn’t until late 2017 that we saw the introduction of Bitcoin Futures from CBOE and CME.
We expect new companies to continue entering this arena, especially crypto ETFs (ie: Bakkt in Jan 2019 maybe?), as well as other attempts at index funds or derivatives.
There's a bunch of teams doing great stuff:

Lastly, we need to punish greed and reward companies doing the right things

While it’s not a problem particularly limited to centralized exchanges, it’s been reported that listing a token can cost as much as $3 million. In contrast, listing a stock on NASDAQ costs $125k to $300k plus annual maintenance fees.
This is just one example of the greed exhibited by those who have leverage and the middlemen who stand to profit in between (consultants, brokers, ICO firms, etc). These high fees dampen innovation as they’re too great of a cost to bear for most token/ICO projects. This is crucial for most projects as they need liquidity to bootstrap their network and to remain favourable with the community that invested in them.
At least 7 of the top 10 exchanges engaging in excessive wash trading from 12x to over 100x their true volume.
Foul play
Plenty of centralized exchanges have been suspected and accused of wash trading (creating fake volume), insider trading, and price manipulation.
High user trading fees
As centralized exchanges carry more risk, and have more opaque control of their platform, they often charge higher fees compared to a decentralized exchange.
Withdrawal limits
Centralized exchanges impose a withdrawal limit, as a security measure to limit the amount that can be withdrawn at once. However, there’s also a misalignment of incentives, as they stand to benefit when you keep your funds locked on their platform so they can maximize trading fees
There's a bunch of great projects and base layer infrastructure that people should look into and support, not just the protocols but also startups building on top of them, some of my fav protocols include:
Personally I'm working in one of the many, many startups in the space trying to build on top of these decentralized infrastructures to give everyone a more seamless experience to access, trade, and use crypto. But you can imagine how hard it is to gain any traction much less build a sustainable business especially in a bear market like this, and when everyone has either completely lost their motivation or still flocking to centralized exchanges to chase pumps knowing full well the risks and unethical practices.
Cool story, what are you doing about it?
I work with a team called the LakeProject, and we're a group of people that came together because we believe that decentralized platforms will address a lot of these concerns, so we're putting our money where our mouth is and building them. If you want to help or learn more about what we're doing here's our site: http://lakeproject.co. We also built our first decentralized product here which is a trading platform built on 0x: https://trade.lakeproject.co

In conclusion - Vote with your money and your time, it makes a difference

I hope this post made sense and I made somewhat of a decent case (?) on why we need to shift our mindset from simply trading and hodling to proactively choosing where to participate, what dApps to use, and which startups to support.
IMHO this is key for adoption and it will seriously help startups (like ours) to grow and be able to make a difference in the industry and push forward and pioneer a new paradigm of operating a decentralized business. I think everyone in the space right now is still learning and trying to understand how that might look in the future, but the more support and usage we get, the sooner we'll learn and the brighter our future will be.
If you've gotten this far, thanks for putting up with my clickbaity title and reading this thread :)
submitted by matt-lakeproject to CryptoCurrency [link] [comments]

Cryptocurrency and Blockchain – Industry News – (03.15.19 – 03.22.19)

Total Market Cap, as of 03.22.19 at 3:00pm (PST): $140,255,684,074 (+1.95%)

Missed last week’s update? Click here

STORY OF THE WEEK

•CEO of Square Jack Dorsey announces its intention to hire 3-4 engineers and 1 designer to work on open source contributions to the Bitcoin/cryptocurrency ecosystem. New hires will not be focused on Square’s commercial interests, but rather what’s best for the crypto community.

ADOPTION

Western Union partners with Stellar based start-up Thunes to enable clients to transfer funds directly to any mobile wallet globally.

CRYPTOCURRENCY TRADING SERVICES

Coinbase Pro removes support for stop orders and adjusts its trading fees schedule. Those who trade under $100,000 will see a fee increase of 33%. Other transactional thresholds will see no changes or otherwise a reduction of 13-50%.
Coinbase lists Stellar Lumens (XLM) on its web and native mobile applications (iOS, Android) on March 18th, 2019.
Binance launches a new fiat-to-crypto gateway in Australia, dubbed “Binance Lite”. The new platform allows for Bitcoin purchase in any of the 1300 newsagent stores for a 5% fee.
Huobi announces Huobi Prime, a platform allowing traders to speculate on tokens before they list on exchanges in what’s called an IEO (Initial Exchange Offering).
Cryptopia resumes trading with 40 pairs as of March 18th, 2019. Those who have lost funds as a result of the hack in January will be deposited a Cryptopia Loss Marker (CLM) to keep track of lost coins in New Zealand Dollars.
Huobi Global and OkEx announce support for upcoming Tron-based Tether (USDT).
• A report from trading analytics firm The Tie suggests an estimated 87% of cryptocurrency trading volume may be artificially manufactured. This was determined by cross-referencing platform visitor analytics and reported volume by the exchanges.

REGULATION

•Senior advisor at the U.S Securities and Exchange Commission (SEC) Valerie Szczepanik stated that algorithmic stablecoins – tokens that maintain its stability through financial mechanisms may be “getting into the land of securities”.
The Japanese Cabinet, an executive agency of the Japanese government approves a law that bans margin trading that exceeds 4x from the initial position. Margin-enabled exchanges must now also register no later then 18 months from the effective date the law goes into effect.

TECHNOLOGY

•Major mining hardware manufacture Bitmain releases Antminer Z11 on March 19th, 2019. The new miner will be 60% more efficient on electricity and tout a 3x increase in hashing power to mine cryptocurrencies that is based on the Equihash algorithm (ZCash).

INSTITUTIONALIZATION

Kakao, an internet conglomerate in South Korea with an estimated 44M users is looking to integrate a cryptocurrency wallet into its flagship messaging app – KakaoTalk.
•Worlds largest manufacture of cryptocurrency mining equipment Bitmain, looks to deploy 200,000 miners in China’s southwestern provinces to take advantage of cheap hydroelectric power.

PEOPLE

•Major South Korean cryptocurrency exchange Bithumb to reduce staffing by 50%. This will effectively reduce the head count of the team from 310 to 150.
•Jared Rice Sr, founder of $4.2 million USD crypto bank scam AriseBank pleads guilty to 1 of 3 outstanding charges. Plea will sentence Jared to 60 months in prison with a maximum sentence of 20 years and $5 million USD fine.
•Former BTC-e operator Alexander Vinnik currently accused for money laundering to the tune of $4 billion USD appeals for extradition to Russia for humanitarian reasons.

TWITTER

@jack – #BitcoinTwitter and #CryptoTwitter! Square is hiring 3-4 crypto engineers and 1 designer to work full-time on open source contributions to the bitcoin/crypto ecosystem. Work from anywhere, report directly to me, and we can even pay you in bitcoin! Introducing @sqcrypto.
@iamdevloper – If anyone wants a better understanding of Blockchain, I can thoroughly recommend the Fyre Festival documentary on Netflix.
@danheld – Dollar: In God we trust. Bitcoin: In math we trust.
submitted by Edmund_N to CryptoCurrency [link] [comments]

Top 3 Crypto Tax Platforms

Top 3 Crypto Tax Platforms
So should you do your taxes? Well, yes. First of all, it’s the law to pay them and not following that law may get you in trouble. But secondly, you also want to know exactly, to the last sat, where you stand with your finances at any point in time – your gains, and your losses. You want to know how much you spend, where, how much you get, from whom, and how much money in fiat should you have ready for the tax time. And it’s far better to do this on a constant basis, than two days before you need it.
https://preview.redd.it/56efi6xle3x31.jpg?width=1000&format=pjpg&auto=webp&s=ee6f860fd1676c0a42e46a3af63f07e514a22b0c
Luckily, the times are changing, and this change is the best seen by those connected to digital assets. With the general transfer of numerous businesses to the digital world, new tools are being created to accommodate the individual’s and business’s every need, and make the job at hand easier, in this case producing a tax report. Hence, a professional route is probably the best way to go, given that they will be familiarized with the tax law of your specific country/city. Additionally, contemporary tools and platforms are not only tax software, but portfolio trackers too, as they need the info to produce your report. They will help you import your data, calculate your taxes, and prepare your filing for you, delivering a full set of necessary documents. Additionally, you can often pay for a plan in crypto without giving out your real name anywhere in the signing-up process, which helps protect your identity and privacy.
We’ve used the digital market intelligence platform SimilarWeb to find the most popular crypto tax tools, and we focused on those below the global rank of 2 million. The the two most popular ones, had 364,000 and 70,000 visits in September respectively, while the visit numbers for other platforms were not available. There are also many other platforms out there for you to check out to find your best fit, such as Koinly.io, Cryptio.co, Bittax.com, or Bear.Tax. That said, these are the eight tools we found, presented in the order of their rank, starting with the most popular.

1. CoinTracking.info

Currencies supported: All major fiat currencies and 7,016 coins and assets.Countries supported: Software is flexible enough to adjust to basically all countries.Exchanges supported: Direct imports from 52 exchanges and 8 wallets; also, legacy support for 16 closed exchanges.Price / year: Free, Pro - USD 117, Unlimited - USD 249.
CoinTracking is a comprehensive tool from Germany, which offers tax calculators for thousands of cryptocurrencies to people across the globe. It analyzes trades, produces real-time reports on gains and losses, and allows users to keep an eye on the value of their currencies on each exchange. Furthermore, users can calculate historical balances and profits, review realized and unrealized gains, and prepare trading and income data in order to generate tax reports. The dashboard provides an overview of a user’s portfolio, utilizing interactive charts and graphs showing various information, such as balance per day, or trades per month.

2. CoinTracker.io

Currencies supported: 2,500 cryptocurrencies and 157 fiat currencies.Countries supported: Full support in the U.S., the U.K., Canada, Australia, and partial support for every other country (considered "partial" because it doesn't apply the nuances of local tax laws for each jurisdiction yet, but users from other countries can still get a transaction history CSV (a simple file format used to store tabular data) and capital gain CSV; more countries are in the plans for the full support).Exchanges supported: Direct import from 38 exchanges, and more than 300 others via a CSV upload.Price / tax year: Hobbyist - USD 49, Trader - USD 199, Pro - USD 499, Satoshi - USD 999.
CoinTracker is a crypto portfolio tracker and tax calculator, which offers portfolio management, tax calculation and optimization, trading, and payments. It is wallet and exchange agnostic and enables fee tracking and margin trading, among other things, while allowing users to review their tax summary and download the reports needed to file taxes – all available in a unified interface. Users’ asset balances and transactions from wallets and exchanges are automatically and continuously synced. This is done so that users can always have the latest information on the state of their assets. Additionally, you can use your Coinbase account to log in. CoinTracker is also integrated with TurboTax, a popular tax preparation software.

3. CryptoTrader.Tax

Currencies supported: More than 2,500 cryptocurrencies; capital gains / losses reporting for over 30 different fiat currencies.Countries supported: Specific tax forms for countries like U.S. and Australia also are supported, with Canada and U.K. tax forms expected to launch by the end of 2019, but anyone from around the world can use the platform to calculate their crypto gains and losses.Exchanges supported: Direct import from 30 exchanges, and more via a CSV upload.Price / tax season: Hobbyist - USD 49, Pro Trader - USD 99, High Volume Trader - USD 199, Unlimited - 299.
CryptoTrader.Tax utilizes the methods tax professionals use to calculate your tax liability and minimize it, and to make sure that the results are accurate. After you’ve logged in, you just need to connect your exchanges, import and define transactions (by an offered label) and import your trades from the exchanges/brokers, after which you can review your data. Then, your gains/losses and taxes will be calculated and your tax report ready for download in a short amount of time. Each tax report includes five documents: an income report, short and long term sales report, end of year positions report, IRS form 8949, and a full audit trail. You can file these yourself, send them to your accountant, or import them into TurboTax for e-filing.
submitted by CryptoHamstereu to u/CryptoHamstereu [link] [comments]

The truth about Bitfinex and Tether...

EDIT: I realize this is long, but I feel it's important to have this info out there. Maybe save it for later when you see this narrative being pushed around so you can come back and get the other side.
EDIT 2: TL:DR - Most negative analysis on this sub lately of Tether are likely from a single biased source that stretches a lot to make his points, and there is simply not enough Tether in the market nor is it concentrated enough to create a catastrophic problem or significant inflation for any USDT currency pair.
Like many of you, I have heard the stories and posts about the fraudulent tether, I trade in this space on many exchanges and the growing concern is worrying, so I did my due diligence, and I would like to share it with the community.
First and most importantly IMO, all this controversy stems from just one account/person. A person on twitter going by the handle @Bitfinexed - https://twitter.com/Bitfinexed
Here you can see this person's writings - https://medium.com/@bitfinexed/latest
Spoofy, Tethers and institutional investors are what they contend to be the lies and fraud, AND that this entire rally in 2017 is based on fraudulent Tethers and spoofing, and that this will implode the markets.
I feel this is also important… Turns out this person sold at $1000, maybe the real reason he is on this mission??… https://twitter.com/whalepool/status/896460700461277185
Now for some troubling info, the majority of this narrative (FUD??) here on Reddit in the last month come from just three accounts.
https://www.reddit.com/useAtlasRand1/submitted/
https://www.reddit.com/usecetusfund/submitted/
https://www.reddit.com/useAnythingForSuccess
As you can see these accounts entire mission is to post constantly about this. They all show up on the other’s post to comment regularly.
Btw, some people on the pro-finex side think this is a smear campaign from other exchanges. I don’t believe this to be the case. This person(s) only talk about TetheFinex, yet Tether is used and traded by the $millions daily on 3 of the top 5 exchanges, Finex, Bittrex, Polo, yet never a word about those other exchanges. (Check the USDT volume on other exchanges) https://coinmarketcap.com/assets/tethe#markets
Therefore, if it is an exchange, it isn’t Trex/Polo because this would affect them as well. If it was an exchange other than Trex/Polo they would have plenty of fire power against 3 of the top 5 exchanges with Tether fraud.
This leads me to believe it is most likely a sad person(s) with an ax to grind. They might have lost their $ on Finex to what they believe are spoofers/fraud and or they were part of the finex hack and sold there BFX too early.
Btw I see contention that Bitfinex did NOT pay back the $ from the hack. They did, but some people are mad because they sold BFX early and didn’t recoup full $ amount from haircuts, but that was their decision.
~ POINTS OF CONTENTION
SPOOFING This is what set my alarm bells off about these articles I read from Bitfinexed. Specifically spoofing… https://hackernoon.com/meet-spoofy-how-a-single-entity-dominates-the-price-of-bitcoin-39c711d28eb4
and this nugget…“And who the hell is going to go margin long so dramatically after a huge crash?” from this article… https://medium.com/@bitfinexed/are-fraudulent-tethers-being-used-for-margin-lending-on-bitfinex-5de9dd80f330
Claiming spoofing shows this person has limited markets/trading knowledge. Clearly they haven’t watched an order book of any exchange in crypto, equities, or Forex.
This is called scalping or scare walls. Again this is done in every market around the globe.
Here is a professional FOREX trader talking about scalping, how it works, who/why they do it. https://www.youtube.com/watch?v=EYMIPmgRb_M&list=WL&index=94
TL;DW - they do this to get the price where they want it because they know people are watching the order book (the video is quite enlightening), and the key point that keeps this from being an illegal activity (on regulated exchanges) is THAT THEY DO MAKE TRADES FOR THOSE SIZES eventually. This doesn’t always work and they get stuck in these positions. Risk/reward.
The ironic part about this spoofing idea is Finex is one of the few, if not only exchanges, that offer hidden orders. So people trying to scalp always have to worry if there is a monster hidden order lurking.
Go to the UPDATE: AUGUST 7TH of this story and watch the video he claims proves spoofing and Phil Potter admitting it in the voice over. https://hackernoon.com/meet-spoofy-how-a-single-entity-dominates-the-price-of-bitcoin-39c711d28eb4
I see nothing wrong with what Phil says and no proof of anything in the video. Again this is true on every exchange trading anything of volume in the world. People with large amounts of money move markets, oh the horror. I “technically” do this when I place an order and pull it for whatever reason (scared, mistake, etc.) just not in large sums, but I would if I had large sums.
“And who the hell is going to go margin long so dramatically after a huge crash?” The crash they are referring to is from the early June ATH to the mid-July correction. A 45-day crash? Well, I am one of those people that went margin long. And many many others who read charts, resistance, support, retracement info. Again, this smacks of someone who doesn’t know what they are talking about.
REASON FOR PRICE RISE/BTC GOES UP WHEN TETHERS ARE CREATED
This is absurd. This completely negates everything else, the Japanese currency ruling and them entering the market, Koreans coming into the market in a huge way (they now have the largest exchange by far with close to a Billion traded DAILY, oh and they don’t use Tether at all), the successful hard fork, or the more (positive!) interest from the media and people than ever before in BTC history.
Instead, we are supposed to think that $395 million dollars of tethers are the reason for this rise in a $160+ Billion market cap. 
C’mon people! Look at that volume for the last 30 days. https://imgur.com/a/vKJ5g Also, the overwhelming majority of trade does not exist in Tether but KRW, CNY, USD, JPY.
Tethers are usually created when extra liquidity is needed, be it a crash or a spike. Because more people are trading.
They try to prove Tether boosts the market with this picture in their article. https://imgur.com/a/274SE
The problem is 2 of the last 3 tether dumps coincide with a downturn. In fact, there is nothing in this graph that proves this theory. Also, the last tether dump/price rise coincides perfectly with the news of the majority of miners signaling segwit2x for the first time (search bitcoin or btc around that date).
So do you think the market traded billions of $ at that time because of a $50 million Tether dump or because for the first time in YEARS a solution and path forward became visible??
THEY DON’T HAVE BANKING//NO INSTITUTIONAL INVESTORS/FAKE TETHERS-TERMS OF SERVICE
In regards to banking, clearly they have some kind of banking and a way for large amounts of fiat to get in and out. The banking is not for you and me but for regional bitcoin exchanges and other large customers.
You know how I know this? If they didn’t the internet would be flooded with Finex withdrawal issues, there would be a price premium on Bitfinex compared to other exchanges, just like Mt. Gox had for so long and also Bitfinex earlier in the year when the banking issues started.
This article explains it very clearly (seriously read this article), it has nothing to do with this controversy, just the banking issue in April.
https://medium.com/@Austerity_Sucks/why-bitfinex-went-from-a-premium-in-its-crypto-usd-pairs-to-now-a-significant-discount-e7be193d7cb0
TL;DR - All of the imbalances discussed (Finex premium) have been a result of USD frictions into Bitfinex. It has been a chain reaction resulting from the initial freeze to the various gradual withdrawal options. As soon as Bitfinex conclusively addresses the USD flow issues, the crypto pair prices will normalize (which they did) with other exchanges that don’t have banking frictions and USDT price will return to par (which it did).
The premiums on Finex and Tether are what would prove something is wrong, yet they are not here. Surprisingly Finex has been at a discount to GDAX and GEMINI recently. Meaning people are willing to take a loss on prices to be able to lend on Finex. This too will normalize as people/bots arb.
Aug 9th… From “arguably” bank fraud https://twitter.com/Bitfinexed/status/895339675120013313
Aug 22nd…. To “admitting” bank fraud https://twitter.com/Bitfinexed/status/900230917196836864
Listen to that audio in the second link, listen carefully. His explanation is perfectly reasonable. Banks don’t work well, consistently, or at all with crypto related companies (marijuana companies too for that matter) especially in jurisdictions that are outside US/Europe. Surprise surprise, this is nothing new. When they find out customers, deposits/wire are cryptos related they pull the plug (a reason why Trex/Polo don’t mess with USD).
Also, they gave their customers a haircut, probably a lot of complaints about the hack to Wells Fargo and other banks. These are the correspondent's banks, not Finex’s, they have banking. This is how they can receive large institutional deposits and withdrawals. Which I bet make up the majority of the fiat deposits and withdrawals.
Classic 80/20 business rule, 20% of your clients are providing 80% of the liquidity plus you are having banking issues (which is expected in crypto-land), so you cut this service to the 80% saving time/resources/headaches for the 20% loss in a single service to them (no fiat withdrawal/deposits- but crypto flows in and out with ease).
Again if they weren’t able to get money in and out there would be a premium, there would be a long line of complaints online. I have no reason (or proof) to believe that money is NOT coming into/out of the exchange.
It makes total sense too, they are the best lending platform, have one of the most liquid exchanges, and have by far the most reliable and best software/servers/UI/order options. You cannot deny this fact, they are constantly a top 3 exchange in volume, even after a hack.
I use Finex (as well as others) because of all those things. Also, they have already been hacked, a second hack seems less likely (IMO, they have more to lose with another hack). They have many big events on the horizon (Ethfinex). Would a company be putting resources into these things if this is all fraud or an exit scam? I find that unlikely. Is this 100% full proof? Of course not, nothing is, especially in crypto, just my reasons for trading there.
Institutional Investors - https://medium.com/@bitfinexed/are-legitimate-institutional-investors-really-coming-onto-bitfinex-s-platform-i-don-t-think-so-cb4ed5175092 Here is what this person doesn’t comprehend, what if these institutional investors are… you ready… here it comes… other exchanges that use Tether, as well as other crypto related businesses. It is only $395 million Tethers. These exchanges (Trex, Finex, Polo) are printing money.
This isn’t “someone” with 100’s of millions of dollars as the article suggests, it’s many people with millions/thousands of dollars. Again this all ignores the fact that many more people have entered the ecosystem this year. This is proven by Coinbase growth, transaction growth, and exchange growth (both in volume and # of exchanges), and growth in crypto-related sub-Reddits.
Yet Bitfinexed is shocked that lending hits ATH’s, but it is perfectly explainable and reasonable based on the evidence and data of gthe ecosystem. Let us not forget BTC is a finite amount, more people are going to increase demand/price, if you think this is a bubble... you haven’t seen anything yet.
The TOS are sketchy and a point of concern but there are two things to keep in mind- It was necessary to word it that way, and the market clearly doesn’t care.
If they had worded it that they will redeem no matter what, they would have money launderers flocking to the service (bogging down resources), plus law enforcement knocking.
Tethers weren’t created to get $ in/out of crypto but to provide a safe haven and liquidity on exchanges that don’t use USD. And I would say they are working perfectly. Very few are withdrawing USDT for USD.
I think it is precisely because of what the co-founder of tether refers to here (and below)… “If you want to convert USD₮ into fiat currency (or vice-versa) at tether.to, you must go through the whole “aggressive” KYC/AML process and get verified. I’ve heard from many who tried and were unable to provide sufficient documentation. Tether’s KYC/AML policies were written by experienced compliance officers and it’s critical that it be done properly and with diligence. It really is about “knowing your customer” and making sure that their uses are legitimate.” This is a perfectly reasonable explanation why people are not lining up to cash out of Tether, and also why large/reputable institutions can (exchanges, investors, etc.).
TETHERS REPLY TO ALL THIS, PLUS UPCOMING AUDIT https://tether.to/tether-update/
Now ask yourself this, would a company that is operating fraudulently have a roadmap of all these new features that no one will ever use if they don’t provide these promised audits as they say they will by the end of the year?
So as of now they have enough runway until the end of the year. I say we give TetheFinex the benefit of the doubt.
While Tether could be operating fractionally (so to could any exchange in crypto btw), there is no proof or evidence of it today. It trades at normalized rates. You can’t just create 100’s of million of dollars without the marketing realizing somewhere.
Sure, you can say this is a confidence game, but so is crypto, so is the USD, so is the concept of money. I see no reason to be more concerned with this risk than the already risky environment we trade in with exchanges.
WHAT IF I”M WRONG? CRYPTO WILL IMPLODE!
No it won’t. Sure there will be a dip maybe even a correction, but there are only 395 million Tethers. People will get out of Tether even at massive discounts (until $0) into crypto because they can’t get USD, but not more than the 395 million tethers circulating (at this time).
At a certain discount people will understand what is going on and stop trading for Tether. BTC + ETH is worth over $100 billion, how many time does the entire amount of USDT have to turn over to cause a massive crash?
What will get hit the hardest are the people left holding tether (if/when they implode) and Trex/Polo/Finex.
To think Polo/Trex would rely so much on USDT that they didn’t fully vet it is absurd as well. Whats more likely, Polo/Trex’s due diligence or this @Bitfinexed person based on conjecture?
I’ve already seen a Forbes contributor try and get ahold of Bitfinexed on twitter. https://twitter.com/laurashin/status/894437272241569792
Could I be wrong about all of this??? Of course, but, I feel I have provided more evidence than the other side. You are the Judge :)
USEFUL INFO
Some from u/udecker - Tether co-founder
Tether.to is who has the backing for the token, not Bitfinex. Bitfinex is a customer of Tether. If Bitfinex wants more Tether, they make a request to Tether, just like all other Tether customers. Tether waits for USD to show up, and when it does, creates the necessary tethers and credits Bitfinex. They both have Tawainese banking so money can flow back and forth easily. (The banking industry in the country of Taiwan are under scrutiny lately because of larger legal issues not involving crypto, but clearly affecting crypto companies)
https://wallet.tether.to/transparency
Tether wasn’t designed to be a profit machine. It was designed to be a utility for the crypto community to provide a stable token (with all the benefits of this). Tether’s business model is this: 1. Generate fees from wire deposits and withdrawals and conversions. 2. Interest income on the reserve.
Bitfinex’s parent company owns a 20% stake in Tether.
People say Tether isn’t being burned. But they are being recycled which is/was always an option.
I hope we can have a productive conversation around this without the usual Gox 2.0, sell it all, Bitfinex is the anti-christ comments with no substance. Give us your opinion and perspective because maybe I am missing something… but, maybe you are too.
This was quite time consuming (just ask my kids and boss, lol) So if you found this info helpful you can donate if you’d like here, if not, no biggie smalls :)
ETH - 0x0181D1C82229BAD741BB6c302ae523aE6DC9a1EE
BTC - 14Wz4SCuKwa81UBh1U7mcaCTxMsYLLuGZK
BCH- 16uby9gW79tjn5guQG8v5mTsdu6V6cYyKF
submitted by bhdgsetyf to CryptoCurrency [link] [comments]

COINBASE PRO TUTORIAL - [Everything You Need To Know ... Moving average explained  EMA12 and EMA26 on Coinbase Pro ... It’s No 100x, But It’ll Do Coinbase Pro Re-Releases 3x Leverage How does Binance MARGIN TRADING Work? - YouTube Coinbase gives us Margin Trading (Leverage for U.S. Markets)

Coinbase has launched margin trading for users of its cryptocurrency trading platform, Coinbase Pro. Both individual and institutional investors in selected regions now have access to Coinbase Margin trading is the practice of borrowing funds [from a lender] to trade. This is a form of “leveraged trading” that provides traders access to more buying power than the balance of their Coinbase accounts by using certain assets (currently only BTC, USD, and USDC) as collateral for loans. Margin trading is available to both individual and institutional traders. For individuals to qualify for margin trading, they must live within one of the 23 states* where we currently offer the feature, have a valid Coinbase Pro account, and be active on Coinbase Pro, measured by recent trades, balances, and deposit and withdrawal activity**. US-based cryptocurrency exchange Coinbase announced recently that it is relaunching margin trading service on Coinbase Pro, its professional trading platform. Back to the basics. The margin trading service is not new on Coinbase. It was suspended by the company in 2017. Today, margin trading on Coinbase Pro provides up to 3x leverage, up to the line of credit granted to you. For example: for every $1 you put in, Coinbase gives $2 for a total of $3. If your line of credit is capped at $100, you may only borrow $100 even if 3x leverage is greater than $100.

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COINBASE PRO TUTORIAL - [Everything You Need To Know ...

A moving average is a general method of summarizing numerical values over time. We have already seen that candlesticks summarize prices over time giving us o... 👉FREE TRADING CHAT: https://discord.gg/tbD7nmA 👍LIKE THE VIDEO AND SUBSCRIBE ... How I made $3k with $100 using Coinbase Pro in One Month! (Tutorial) - Duration: 25:38. Rebranded from GDAX to Coinbase Pro in 2018, Coinbase’s trading platform touted 3x margin trading capabilities for Bitcoin, Litecoin and Ethereum back in 2017, as shown in a how-to tweet from ... – Live Trading, Robinhood Options, Stock Picks, Day Trading & STOCK MARKET NEWS Stock Market Live 7,077 watching Live now CoinBase Pro Order Book Buy Sell Walls Trading 5 TIPS: 6-17-18 ... Interested in the In's and Out's of COINBASE PRO? Well this Coinbase Pro tutorial will show you exactly how. Subscribe for more awesome videos and a chance a...

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