PayPal has partnered with Paxos to join the cryptocurrency market, and allow US customers to buy, sell, and hold bitcoin and other digital coins using the digital payments company’s online wallets.

PayPal is one of the largest global payment providers based in San Jose, California. It has 346 million active accounts around the world and processed $222 billion in payments in the second quarter.

Moreover, PayPal has got a conditional cryptocurrency license. From the New York State Department of Financial Services, commonly called the BitLicense. From early 2021, PayPal customers will be able to use crypto to shop. With 26 million dealers on its network using its app.

However, in an interview, PayPal President and Chief Executive Dan Schulman explained that the company encourages global use of cryptocurrency. Also, central banks and corporations prepare their network digital currencies.

Schulman said,

“We are working with central banks and thinking of all forms of digital currencies and how PayPal can play a role.” 

Furthermore, the company has updated its fees with more details on cryptocurrency exchange fees. However, the company will charge high fees on fiat-to-crypto and crypto-to-fiat exchange transactions.

In Spite of PayPal’s noteworthy launch. Other mainstream fintech firms, like mobile payments provider Square Inc and stock trading app company Robinhood Markets Inc, also allow users to buy and sell cryptocurrencies. 

Many central banks have also expressed their intention to create digital currencies in the coming years, while Facebook Inc-led the development of a cryptocurrency project called Libra in 2019. However, PayPal was a creating member but dropped out after a few months.

OKEx, a leading Asian cryptocurrency exchange has caused selling panic in the crypto market. However, suddenly after suspending its service to cooperate with an investigation.

Chinese news agency Caixin reported that one of the founders of OKEx, Mingxing Xu (also called Star Xu), has been questioned by the police. Moreover, the executive was investigated “at least a week ago” and also was absent from work sometimes.

Many top cryptocurrencies are sold out. On the news with the price of bitcoin on OKEx decreasing 3% in 30 minutes. Furthermore, touching $11,182 Friday morning, prior starting to rebound to $11,326 at last check.

In an accompanying notice on its website, the exchange displayed that one of its private key holders was “currently cooperating with a public security bureau in investigations where required.” The concerned private key holder had been out of contact with the exchange.

According to Red Li, the founder of China’s digital currency news release 8btc, OKEx had first announced it would terminate withdrawals by 15 PM but later changed it to 11 AM.

In March 2020, OKEx suffered a system failure. It caused its perpetual swap order book to lag for a short duration. The exchange assured to reasonably compensate any users who had failed transactions due to the failure.

Glassnode data shows Ethereum’s total transaction fees recorded their highest-ever earnings in September 2020, stood at an all-time high of $166 million for the month which is more than the $26 million taken in Bitcoin fees.

The major factor behind this rise is the growth of the decentralized finance (DeFi) market in the crypto space. Moreover, miners are individuals or entities who use computing rigs to maintain and mine blocks on proof-of-work cryptocurrencies for rewards.

Some miners explained that much of the growth came as increased trading activity in low-cap DeFi projects and non-fungible tokens. For instance, the Ethereum price is at $352.45 with a 24-hour trading volume of over $14.1 billion, according to Coingecko.

As per data, in March and April Ethereum miners made an average of $4 million in fees. However, Miners pocketed $22 million and $32 million in June and July respectively as the DeFi industry started to gain steam due to the launch of lending protocol Compound. 

At the start of 2020, the monthly Ethereum fees were just $1.5 million. This is similar to total value locked (TVL) in DeFi, which first broke the $1 billion in February but surged over $11 billion in summer, according to DeFi Pulse.

• Crypto Bitlord identifies macro trends as part of his strategy to identify highly profitable cryptocurrencies.
• According to the analyst, Polkadot and Kusama could be projects with great potential.

The early XRP investor, Crypto Bitlord, remembered in the 70th edition of Going Parabolic the days before the all-time high of the Bitcoin price and spoke about his experience in identifying trends and crypt0currencies with the potential to achieve exorbitant returns.

Crypto Bitlord entered the crypto market in 2012 and was one of the investors who bought the digital asset XRP for $0.008. At an all-time high, XRP rose 50,000% to $3.84. The investor said that before this rally, the community focused its attention on individual aspects of the fundamentals that make up the value of XRP:

It was going through all of that period of everybody just, all the Bitcoin people just hating on it, destroying it, slandering it left, right, and center, and I’m saying ‘Look, it doesn’t matter what you want to think of a banker’s coin. It’s the fucking dumbest thing I’ve ever heard. Just have a look at what they’re doing here. There’s some potential here. Back it.

Crypto Bitlord collects information, reviews, fundamentals, and other data that supports the value of an asset and its potential to rally. The investor stressed the importance of waiting for the right moment in the market. In addition, he considers the most popular tokens currently being traded to be scams. In reference to the growth of the DeFi sector on Ethereum, the investor added:

But the thing is that sometimes you trade these things. That’s how it is, if you want to make a living trading this stuff. Look at the stock market, there are scams there. The thing is, you have to know how to do it. That’s crypto, a lot of things are scams. Some people argue that XRP is a scam.

New projects with the same potential as XRP

The investor believes that the world is on the verge of massive adoption of Bitcoin, XRP, and other cryptocurrencies. Therefore, he has continued his strategy of looking at market trends at a macro level. The investor claims that market activity has been slow in 2020. Therefore, he has focused on finding a “blue chip” in new projects like Polkadot and Kusama.

Like Ethereum, these projects have features that make them stand out from the competition and help investors distinguish them from scams. For example, the investor claimed that these projects have community support, developers, infrastructure, and financing:

You’re really investing in the team, not just the idea. When you have a solid team, when you have something solid like Polkadot or Kasama you have little chance of losing everything. I call them blue chips. You can put money in there for a year.

Source: https://www.crypto-news-flash.com/early-investor-of-ripple-xrp-reveals-strategy-to-identify-highly-profitable-cryptocurrencies/

Beowulf Blockchain has announced the listing of its own coin on Bittrex Global exchange starting on September 24, 2020.

Beowulf, a business-to-business decentralized cloud network for communication services. The company brings transparency and immediately-available solutions for all users and business customers in many fields.

Through the listing, Beowulf will decentralize the ownership of the blockchain. It will also provide a unique opportunity for people and organizations around the world to become supernodes. However, allowing the Blockchain to distribute 100 million BWF coin (worth $1M USD) to the community within two weeks after the listing. 

Moreover, Beowulf will work with the exchanges to establish a supernode network. Users can stake their holdings together to form supernodes. Therefore, earning block rewards (BWF coins) and transaction fees from the company is simple and seamless.

Beowulf Blockchain CEO Dr. William H. Nguyen said,

“With the support of industry-leading partners, Beowulf Blockchain will be able to completely disrupt the enterprise communications industry by providing a better video-quality, more efficient, and lower-cost video conference services to end-users worldwide.”

Recently, Beowulf Blockchain has also partnered with FHL Games, the leading games and digital content distributor in Latin America. The company also forged partnerships with many prestigious educational organizations and corporations worldwide to deploy QUICKOM, TUTORICA, BIPLOMA, and other advanced technology platforms.

Mercuryo.io – a fast-growing Estonian startup that bills itself as a European leader in cryptocurrency payment processing solutions closed a €2.5M seed funding led by Target Global, a major international VC fund with €800M+ under management.

Mercuryo.io is a cross-border payments network that enables businesses across the world to send and receive payments for goods and services using cryptocurrencies.  Its infrastructure provides solutions for virtual accounts, business payments, remittance processing, and mass payouts regardless of local payment methods and currencies. Mercuryo.io technology allows cryptocurrencies to be used in any form of payments worldwide. It empowers more businesses to be part of the global blockchain community.

Target Global confirms it is investing in Mercuryo.io technology. Mike Lobanov,  co-founder, and General Partner at Target Global said:

“At Target Global, we are great believers that the fintech now is a lot about infrastructure. We’ve already made our bets on Rapyd in fiat alternative payments infrastructure, Copper and Cryptofacilities in institutional crypto infrastructure.

As a relatively new asset class just gaining traction, cryptocurrencies require a secure payment infrastructure that Mercuryo.io is building. Mercuryo.io has launched with 150+ crypto projects to become a crypto-fiat gateway with a further launch of multiple other crypto payments products. As Stripe and Adyen once became a new standard of card payments, we believe Mercuryo.io can become a disruptor of crypto payments. And now we are excited to become Mercuryo’s supporters since the early days.”

Mercuryo.io co-founder and CBDO Petr Kozyakov says Mercuryo.io has managed to deliver great traction, demonstrating 20x volume growth in the last six months.

“This summer, we have tripled our partners’ portfolio. Now Binance, Tozex, Trezor, STEX, Pemex, AAX, Tokens, PointPay, Invity.io, MCX, TrustWallet have Mercuryo.io on board as a fiat-to-crypto processor partner.  We are becoming more and more popular due to our clear policy, transaction speed, and transparent fees. This is probably the reason why cryptocurrency enterprises such as Bitfinex, BitForex, BTC-Alpha, OKEx are already integrated with Mercuryo.io. We have reached 200K+ users and have ambitious plans to scale up operations across Europe, Latin America and Africa, which is now feasible due to our latest partnership with Target Global.”

About Target Global

Target Global is an international investment firm headquartered in Berlin, with €800M+ in assets under management. With offices in London, Tel Aviv, and Barcelona, they connect the key European startup ecosystems and leverage the unique DNA of each of our target geographies, across a global network. Target Global helps exceptional entrepreneurs to build market leaders. Target Global invests across multiple stages, investing in fast-growing tech companies, targeting trillion € markets. Our Partners have been investing for more than 15 years in the digital technology space, backing some of the key European success stories. The Target Global portfolio includes companies such as Rapyd, Delivery Hero, Reef Technologies, WeFox, and others.

About Mercuryo.io

Mercuryo.io was founded in Estonia in 2018 as a cryptocurrency exchange payment provider. It is operating across Europe, and it has offices in Tallinn and London. Mercuryo.io complies with PCI DSS international information security standards, which means tight control measures surrounding the storage, transmission and processing of data that businesses handle. The standard is adopted by VISA, MasterCard, AmEx.

Source: Cointelegraph

Disclaimer: This is a paid press release. Any information contained in this website is not proposed to be and doesn’t constitute financial advice, investment advice, trading advice, or any other advice. TheNewsCrypto is not responsible to anyone for any decision made or action taken in conjunction with the information and/or statements in this press release.

Bitcoins inflows are high on exchanges, with the motive of selling it but the users are not booking orders despite the BTC price drop. 

According to Chainalysis data, there was a 26.36 BTC change in Bitcoin held on exchanges which is positive and above the 180-day average. This indicates that there is an increase in Bitcoin held on exchanges. Bitcoin inflows exceed above 110% in crypto exchanges.

Change in Bitcoin on exchanges (Source: Chainalysis)   

Bitcoin the first and top cryptocurrency in terms of market capitalization. At the start of September, Bitcoin experienced a price drop from nearly $12,000 to $10,000. As per CoinGecko, BTC is changing hands at $10,654,  at the time of writing.

BTC/USD Price Chart (Source: Trading view)

Meanwhile, the overall cryptocurrency market cap now stands at $350.9 billion. Bitcoin’s dominance index presently at 56.4%. When the BTC price goes up, there will be more inflows than outflows on the crypto exchanges. Users are waiting for a price rise to a particular level to execute their sell orders and get on profits.

Moreover, Bitcoin interests are increasing worldwide, Nigerian shows more interest in the asset than in any other country in the world. The country had a transactional value of $34.4 million in the Q2 of 2020 alone. 

With many developments happening across various blockchain industries, the crypto community may expect more surprises in the space. It is also clear that BTC is on track to reach various milestones. 

September 11, 2020 – Today, Huobi Global made a strategic move into the crypto mining business, securing a lucrative hardware deal with the MXC Foundation #MXC to sell the highly sought after M2 Pro Miner.

Prior to launch, the MXC Foundation was flooded with orders for their M2 Pro. The miner boasts high-returns, low-power energy consumption, and intuitive operational simplicity. The genius behind the M2 Pro is in its Plug’n’Play set-up, allowing anyone, including mining first-timers, to become hardcore token miners.

This deal is seen as a coup for both parties, with Huobi Global being not only a well-respected token exchange, they also possess an impressive logistics and sales distribution network. Additionally, the agreement is expected to significantly boost the already impressive M2 Pro Miner sales figures even further, projecting IoT and Blockchain to households around the globe.

Operating on a Proof-Of-Participation model, the M2 Pro is a breakthrough in traditional mining, due to its low power requirements. Operating on less than 5 Watts and a minimalistic 10Mbps internet connection, M2 Pro mines 24/7, costing significantly less than it takes to power the common light-bulb.

The listing of the M2 Pro on Huobi will be the first time an IoT Miner has ever been offered on Huobi and only the third time ever, that a hardware Crypto Miner has appeared on the Huobi site (Following Bitcoin & Ethereum Miners respectively).

“This agreement between Huobi Mining Pool and MXC, is an exciting development for all Crypto enthusiasts. Allowing everyone to mine easily is one of the elements that we believe has stood between the “haves” and “have nots” in the Crypto world. With the launch of the M2 Pro Miner together with the Huobi Mining Pool we believe this will boost mining, MXC, and overall increased participation within Crypto”

said Huobi Pool CEO, Fei Cao.

By running an M2 Pro, users broadcast an LPWAN (Low-Power-Wide-Area-Network) Data Network, allowing others to connect sensors and IoT devices to the long-reaching network. This prochess assists MXC as an IoT Token to power their global data network. Currently, the M2 Pro covers a wide vicinity across China and is simultaneously being rolled out across Korea, the USA, Australia, and Germany. With this deal, the MXC M2 Pro Miner is now available for customers worldwide.

Crypto exchange Binance Uganda announced that it will delist its native token Binance Coin (BNB) for not meeting the trading standards. 

Binance Uganda, an East African crypto exchange that provides the most powerful fiat-to-crypto trading platform. Meanwhile, BNB is presently the 8th largest cryptocurrency with a total market capitalization of $3.4 billion, according to Coinmarketcap. 

As per the announcement, Binance Coin (BNB) doesn’t meet the high-level trading standard. This resulted in the delisting of BNB from its exchange. The said trading standard includes the trading volume and assets’ liquidity.

In the announcement, Binance said,

“Unfortunately, when this trading standard is not met, their performance is subject to review and may result in the delisting of the coin or token. Based on our most recent reviews, we have decided to delist and cease trading on all trading pairs for the following token at 10:00AM EAT 2020/09/17. Binance Coin (BNB)”

Binance Uganda will stop all BNB deposits on Sept. 10. They will continue with their withdrawal operations till Nov. 6. By September 17, The trading pair BNB/UGX will be officially removed.

Initially, the total supply of BNB was 200 million coins. Due to the continuous coin burn, the supply has been gradually decreasing. As per the recent report, BNB is considered to be undervalued, while Binance leads its way. 

Eterbase, a European premier digital asset exchange in Slovakia. It has reported that hackers have stolen around 1.6 million from the exchange hot wallet.

In addition, Eterbase is one of the top crypto exchanges providing top-class services to its users. In contrast, as per Coinmarketcap data, the current trading volume is around 2 million.

Unfortunately, there was a hack on the Eterbase exchange for the first time.

Hack Details:

Total Amount Stolen: 1.6 MILLION.

Cryptocurrency Stolen: BITCOIN, ETHEREUM, XRP, TEZOS, ALGORAND, and TRON.

Hot Wallet hack date: 07-08-2020 (Monday-Midnight).

Moreover, the Eterbase team has officially announced, and confirmed the hack on Telegram. Furthermore, the team has mentioned, “Due to ongoing investigation more details cannot be announced currently.”

Official Announcement Telegram Channel of Eterbase

Moreover, the exchange took immediate action after the hack. However, it suspends trading, and also EU trading till September 10.

At last instance, NewsCrypto team tried to reach the exchange to gather information. Regarding their steps in the future. However, the team did not get any response yet from Eterbase exchange.

Source: CoinDesk