How will the US presidential election affect the price of Bitcoin?

There may be fireworks.

As the 2020 U.S. presidential election draws near, two crypto traders on Twitter shared their predictions for how Bitcoin's price could react to the event.

"If we have a clear winner and an easy transition of power, I do not see much of an impact on the price per coin," trader "BigCheds" told Cointelegraph. "On the other hand, if we have a close and/or contested election, we should see a bounce in risk-off assets like gold and Bitcoin."

The election is a summation of 2020's wild year, with a number of other factors also remaining at play. "This election year is certainly different considering what we have seen in the past due to the pandemic and the global economy taking a toll," Twitter trader "CryptoWendyO" told Cointelegraph. "With an event like Covid, one would assume that Bitcoin would pump due to financial market uncertainty, however we are not seeing that," she said.

Crypto Twitter has been filled with political talk in the weeks leading to November's presidential election. The event arrives at the tail end of a year featuring pandemic scares, business shutdowns and economic troubles.

"Tensions are high especially with the election," WendyO said. "Markets need money coming in to flourish and I’m not certain that will happen right now as the middle class is holding on to their capital," she added.

Government stimulus money plays into the equation as well, with the current administration failing to reach a decision on further economic support. Mainstream markets and crypto both reacted to news that the president had decided to delay further stimulus talks until the election is over.

"After the election as we will get more of an idea when the economy will open up I believe we will see a change in Bitcoin price and I'm hoping it's bullish but we must pay attention to current price action as well," WendyO explained, subsequently pointing out Bitcoin's struggle to decisively break and hold above weekly chart resistance levels.

In the short term, Bitcoin's price recently broke back above $11,000, shining a ray of optimism.

 

written by Benjamin Pirus

https://cointelegraph.com/news/how-will-the-us-presidential-election-affect-the-price-of-bitcoin

Chris Corey

This Boring Project Will Turn All Other Blockchain Into Layer 2 Of Bitcoin

This Boring Project Will Turn All Other Blockchain Into Layer 2 Of Bitcoin

This Boring Project Will Turn All Other Blockchain Into Layer 2 Of Bitcoin
Whether you are a Bitcoin Holder or not, you would have to spend 5 minutes getting to know this project that may change Bitcoin’s future.

Suppose you are not only a holder, but also a Maximalist. In that case, congratulations, the Bitcoin you love is about to regain everything it has lost (for example, Bitcoin Dominance). BoringDAO is a project whose name may sound boring, but some of the most exciting work is currently going on. BoringDAO is a cross-chain compatible, decentralized asset protocol, and its most important product is bBTC (BoringBTC). They provide Bitcoiners the access to all the different Defi.

We Need Programmable Bitcoin

Even though scalability and safety allow Bitcoin to become the most popular cryptocurrency, a programmable Bitcoin is still what the community has long expected. The community is eager to use $BTC to participate in the MakerDAO’s collateral or be freely exchanged with other Cryptos in the Uniswap. There are already some pioneers in the ‘race’: WBTC & renBTC. According to the latest data (03/10/2020, https://debank.com/ranking/btc), the number of WBTC on Ethereum has reached 92,583, while renBTC is 23,855. Even though the TVL seems relatively high, compared to the total number of Bitcoin (18,505,343), it only occupies 1/154 of the total $BTC. In other words, even if the APY is 100%-10000% in DeFi, merely less than 0.6% of Bitcoin enters the Ethereum network through the above two gateways.

Why? The reason is simple: people need a safer and more decentralized way. In WBTC, BitGo is the only custodian. Since BitGo is the only institution that holds users’ assets, there might be a chance of a single point of failure. In terms of renBTC, they proposed a brilliant idea: renVM. But renVM are still in the sub-Zero stage; therefore, it seems that the team manages these Bitcoin at now.

What will BoringDAO do?

BoringDAO proposed a “double pledge mechanism.” Each Bitcoin is backed by more than 200% of assets, including one real Bitcoin (multiple reputable institutions manage Multi-sig). The approximately equivalent value of ERC-20 assets is locked in the contract layer (governed by smart contracts). There is no doubt that 200%>100%, so bBTC maybe much safer. Once the underlying assets of other wrapped BTC have issues, its wrapped token will be in danger. However, in BoringDAO, even if there is a black swan event, the contract layer provides an additional protection. Many people would ask: How about the capital efficiency of BoringDAO?The answer is high.

The secret behind is our Double-Pledge mechanism:

  • BTC holders deposit BTC to mint bBTC through the bBTC Tunnel.
  • All community members pledge $BOR/other ERC-20 tokens on the contract layers (100% Pledge ratio) to build a bBTC Tunnel.

Meanwhile, the BOR community and BTC holders will help each other:

  • Pledge providers can increase the Tunnel’s capacity, enabling more bBTC to be minted through the Tunnel. In return, they can get 70% of the minting fee & burning fee.
  • Pledge providers have access to the Boring Farm, which generate high yield.

It is Incentives that Drive the BoringDAO Business

The two incentives program, Mint Mining and Boring Farm, are uniquely designed for bootstrapping and providing a use case for bBTC in the early stage.

All Blockchains Can Become Layer 2 of Bitcoin

This “boring” project’s business is very smooth: the introduction of incentives and the fair distribution allow our community to grow and prosper while maintaining security. Moreover, not only on Ethereum, this model can run on more blockchains. In the future, Bitcoin will be obtained kinds of features through BoringDAO. If BTC wants smart contracts or enter the DeFi world, then enter Ethereum. If BTC wants high performance, then enter Tron and EOS. If BTC wants anonymous transaction, then enter blockchain with Zero-Knowledge Proof.

BoringDAO is the one stop solution to all demand! These end up with a spectacular imagination: all blockchains (Ethereum, EOS, and even Libra) may become Layer 2 of Bitcoin. Don’t waste your time arguing those guys who support a larger Block. Bitcoin should adopt the safest Layer1, and BoringDAO + Layer 2 will give Bitcoin the infinite scalability. BoringDAO is the infrastructure for the next Bitcoin bull run. With it, you can use your favorite Bitcoin to pay for coffee, as well as participate in decentralized finance without selling your $BTC.

Conclusion

Today, Bitcoin dominance amounts to 60% of total cryptocurrency market cap. This means just by Bitcoin alone, over 60% of crypto’s total market cap is currently left out of the Ethereum-led DeFi world, even with the help of projects like renBTC and wBTC. If the ultimate goal of blockchain is to decentralize while interconnect everything, BoringDAO will be an important piece to the puzzle. To say BoringDAO is the infrastructure of the future is a gross understatement; BoringDAO is the future. With the leading blockchain investors like DeFiance, Hashkey, SNZ, Youbi, Altonomy, DeFi Labs and some BTC miners joining BoringDAO, and strong partners such as HashQuark, Peckshield, DODO, Band and Link, BoringDAO is ready to allow 1M BTC into the DeFi world in a decentralized and safe way.

Article Produced By
BoringDAO

https://www.coinspeaker.com/this-boring-project-will-turn-all-other-blockchain-into-layer-2-of-bitcoin/

Chris Corey

Aussie Millionaire Threatens To Sue The Guardian Over False Bitcoin Investment Ads

Aussie Millionaire Threatens To Sue The Guardian Over False Bitcoin Investment Ads


After unsuccessfully battling The Guardian Australia to seize Bitcoin scam ads from appearing on its website,

Australian entrepreneur Dick Smith has threatened to sue the media outlet.Australian multi-millionaire and electronics entrepreneur Dick Smith has threatened to sue The Guardian Australia. Smith has alleged that the trustworthy media outlet has hosted fraudulent ads with fake interviews of him promoting a phony Bitcoin scheme.

Aussie Entrepreneur Threatens The Guardian

Impersonation scams are among the most perilous threats within the cryptocurrency community. Typically, the fraudsters impersonate a famous person and run false ads claiming that he or she has invested in a particular crypto platform that generates substantial returns. In the past, some of the famous individuals that had their names implicated included Elon Musk and Justin Sun. According to a recent report, a similar thing has been transpiring in Australia. The name of local entrepreneur Dick Smith, founder of Dick Smith Electronics and Australian Geographic, has been used in numerous phony success stories. The written interviews ran on The Guardian Australia with text that Smith had made significant ROI by investing in automated Bitcoin trading bots and urged other people to join “before it’s too late.”

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Smith has been trying to fight off the fraudulent ads since the start of 2020.

However, as he has seen little-to-no success, he decided to threaten the major media outlet with a defamation suit. Smith’s legal team has requested The Guardian Australia to update its advertising algorithm to prevent such ads from appearing on its website again. The media outlet has fourteen days to provide a “satisfactory response,” or the legal team will push forward with

the defamation proceedings.

“While we acknowledge that The Guardian Australia does take the fraudulent advertisements down once notified, that does not prevent [its] Australian readers from falling victim to this prolific cryptocurrency scam.” – commented Smith’s legal representative Mark O’Brien.

A Victim Story Of This Particular Scam

ABC Australia reported the story of an 80-year-old pensioner who fell for this scam during the summer of 2020. When seeing Dick Smith promoting this service, the pensioner telephoned the number listed and agreed to invest the first $500. The scammers’ phone calls started coming more frequently and offered impressive returns if the 80-year old allocated even more funds. In six weeks, the unnamed victim transferred more than $80,000. However, he saw none of the promised returns and realized it was a blatant scam. The pensioner contacted his bank to block the account and the police, where he reportedly received an answer that they were too busy to help.

Chris Corey

Trump vs Biden: 4K gold target as Brandt eyes Bitcoin big buy signal’

The upcoming U.S. election results can’t stop a fresh gold advance, one analyst says, while Bitcoin is also due fresh bullishness.

Gold will gain regardless of whether Donald Trump or Joe Biden wins the election, one analyst says as Bitcoin (BTC) targets $11,000.

In an interview with the media division of precious metals giant Kitco on Oct. 7, Frank Holmes, CEO of U.S. Global Investors, said that he was “betting on gold” for bullishness by the end of the year.

“It’s love season. It’s the seasonality of two wedding seasons in India, it’s the season of lights of Diwali, then we have Christmas, and it peaks for Chinese New Year,” he told the network.

“It’s an auspicious time for the consumption of gold, and it’s most highly correlated with GDP per capita growth.”
Gold, like Bitcoin, saw highs in August before a fall which came in line with renewed strength in the U.S. dollar currency index (DXY). The outcome of November’s U.S. election has the potential to influence USD standing considerably, but Holmes believes gold will shake off the result.

“Some are betting on blue, some betting on red, and I’m betting on gold,” he added.

As Cointelegraph reported, gold bug Peter Schiff has also painted a less-than-optimistic outlook for the dollar, arguing that a Biden win would be the worst case scenario.

Holmes confirmed that he was eyeing a $4,000 price target for XAU/USD.

Brandt focuses on weekly, daily Bitcoin price
Bitcoin has seen inverse correlation with DXY, which has managed to claw back its losses from earlier this summer. Sideways trading has mimicked the lack of progress in gold, with $11,000 remaining out of reach so far in October.

News that payments giant Square had followed MicroStrategy in buying a large amount of BTC buoyed markets on Thursday, with BTC/USD nonetheless encountering resistance at $10,940 — the site of previous rejection late last month.

For analysts, however, the move is a conspicuous sign of good things to come.

“It is a major development that a global corporation is now putting $BTC onto its balance sheet,” veteran trader Peter Brandt responded on Twitter.

“The weekly and daily charts [are] poised to flash a big buy signal.”

Discussing Square, Cointelegraph Markets analyst Michaël van de Poppe warned that “dashes” of short-term bullish behavior may remain just that — unless Bitcoin can definitively overcome $11,000 resistance.

 

written by William Suberg

https://cointelegraph.com/news/trump-vs-biden-4k-gold-target-as-brandt-eyes-bitcoin-big-buy-signal

Chris Corey

Popular Analyst Claims Bitcoin Must Break Above This Level Or Risk Going Downhill

Popular Analyst Claims Bitcoin Must Break Above This Level Or Risk Going Downhill

Bulls Brace For Fireworks As Bitcoin Breaks $10K, What's Fueling the Rally?
After opening the month of October trading as high as $10,923,

Bitcoin has dropped and has since been in consolidation between $10,500 and $10,600. Volatility has reduced significantly since then as the coin has been in consolidation and the price range has been tightening. This is however about to change. An analyst and crypto trader, Josh Rager says that volatility is about to return and Bitcoin may be breaking soon, but in which direction? According to the analyst, a break above the price range of $10,900 to $11,150 will ensure that the price goes upward in a continuing bullish trend. Otherwise, a downward movement below $10,000

may be imminent. 

“Volatility building up. Compression continues for Bitcoin with a potential break coming this week. If Bitcoin can’t break above the zone above ($10,900 to $11,150) on the next impulsive move then Bitcoin likely continues to the downside sub $10k, IMO,”

Bitcoin has managed to stay above the $10,000 level for 70 days in a row now which is a record period that the coin has stayed above this level for so long. According to cryptocurrency youtube channel Altcoin Daily, this is an indication that Bitcoin’s bullish trend remains intact despite the uneventful market conditions as the coin is gaining more popularity in countries such as Venezuela. Another analyst Timothy Peterson had predicted that Bitcoin price would soon stop going below $10,000. Although the digital asset dipped below this price momentarily during the wild price movements that preceded the current consolidation, the 70 days straight above the level could be an indication that Bitcoin has indeed conquered the $10k race.

If this is the case, Bitcoin may be breaking out within the range to ensure its upward movement when it finally does. Worthy of note is the fact that Bitcoin had gone up past $10,700 yesterday for the first time since 1 October. If the upward movement continues, this may be the return of volatility that Rager refers to, and may bring more exciting days than we currently have seen. Meanwhile, altcoins have also followed Bitcoin’s consolidation with most of the top ten in the red for the last seven days. With Bitcoin breaking upward, they may also follow suit or get affected negatively as it usually happens.

Article Produced By
Ponvang Bulus

Ponvang is a cryptocurrency enthusiast, investor and writer. He's particularly interested in trending issues in the crypto space both technical and financial and loves to write about same.

https://zycrypto.com/popular-analyst-claims-bitcoin-must-break-above-this-level-or-risk-going-downhill/

Chris Corey

BitMEX Now Branded A High-Risk Bitcoin Exchange Following US Government Charges

BitMEX Now Branded A “High-Risk” Bitcoin Exchange Following U.S. Government Charges


The many milestones achieved this week in the crypto community has not erased the ups and downs in the industry.

This month alone, two indictments have rocked the crypto space, and both have included two of Crypto’s high-profile personalities; Arthur Hayes and John McAfee. The arrest of the former CEO of leading cryptocurrency exchange and derivative trading platform BitMEX, along with his co-founders Benjamin Dell and Samuel Reed, has not only left the crypto-community puzzled but has now warranted industry takes to the Seychelles-based exchange.

Chainalysis labels Bitmex a “high-risk” exchange going forward

While some are still worried about how the exchange could remain afloat through the controversy, the real problem might be if and how BitMEX will bounce back, after investors pulled out their investment following the indictment of its executives. In response, popular blockchain data provider Chainalysis is labeling the exchange as “high-risk.” In an attempt to keep its users’ funds safe, Chainalysis warned its clients via email that any form of association with the “high-risk,” exchange, by transferring tokens, will warrant an alert from its Chainalysis monitoring tool. The email reads; “Any transfers from October 1 and later should be considered high risk.”

BitMEX continues to experience significant losses

This month, the exchange saw a 27% drop in overall Bitcoin value on the platform and it appears that with its executives still under arrest, coupled with warnings from these firms, investors could continue to panic while they continue to pull back on their investment. Though the aforementioned is the highest loss the exchange has seen so far, the numbers could more than double in the next few weeks. In a research by Arcane Research, Bitcoin derivatives on the BitMEX network has fallen off by 16% following the charges levelled against the firm. Like Chainalysis, Glassnode is also classifying the platform as risky. Part of the market update from

Glassnode analytics reads ;

“On Friday 2 October, the day after the announcement, BitMEX saw its largest ever day of net outflows as investors rushed to remove their funds from the now-risky platform.”

Meanwhile, the company’s executives, all of whom were arrested last week, are facing up to 10 years in jail. Two charges were filed against Arthur Hayes. The first charge is for allegedly conspiring to violate the bank secrecy act by failing to implement appropriate anti-laundering guidelines in place. The second charge from the Commodity Futures Trading Commission (CFTC) alleges that the company’s executives were “operating an unregistered trading platform and violating multiple CFTC regulations, including failing to implement required anti-money laundering procedures.”  At press time, the future of all the executives is yet to be known. So far, there’s been no statement from either of the executives since their arrest, but what is almost certain is that the next few weeks may not be the rosiest for BitMEX and its existing users.

Article Produced By
Olivia Brooke

Hi, I'm Olivia. When I'm not stressing about my multicolored Chihuahua, I'm reading up on the next big thing that Cryptocurrency has to offer.

https://zycrypto.com/bitmex-now-branded-a-high-risk-bitcoin-exchange-following-u-s-government-charges/

Chris Corey

Kyrgyzstan’s central bank suspends SWIFT to prevent capital outflow

The bank is shutting down the SWIFT network as protests rocked the country.

The central bank of Kyrgyzstan has disabled cross-border transactions on the SWIFT financial network amid widespread unrest over the country’s disputed parliamentary elections.

Aida Karabaeva, an official representative of the National Bank of the Kyrgyz Republic, announced a temporary suspension of SWIFT in Kyrgyzstan in a statement on Oct. 7.

According to Karabaeva, the bank decided to suspend SWIFT transactions in order to prevent capital outflows from the country and ensure the safety of assets. The executive claimed that the bank is planning to resume SWIFT transactions as soon as the situation in the country stabilizes:

“The measures taken are necessary to ensure security of the system and the safety of assets. The National Bank is monitoring the situation, and as it stabilizes, the banking system will resume operations in normal mode.”
Karabaeva’s statement comes in conjunction with Kyrgyzstan’s central bank recommending local financial institutions to temporarily suspend their activities due to the complicated political situation. On Oct. 7, the National Bank of the Kyrgyz Republic issued an official statement requesting commercial banks and lenders in Kyrgyzstan to halt operations:

“In order to ensure safety of the country’s financial and banking sector and to preserve assets of financial credit institutions, the National Bank of the Republic of Kyrgyzstan recommends that commercial banks and non-banking financial credit institutions suspend their work on October 7 and step up security measures until the political situation in the country stabilizes.”

These measures come amid violent protests that began on Oct. 5 in response to Kyrgyzstan’s parliamentary elections that were perceived by protestors as unfair. Following the massive protests, local electoral authorities annulled the election results on Oct. 6.

Kyrgyzstan is just another example of the traditional banking system’s imperfections in comparison to the crypto industry. In contrast to the traditional banks, major cryptocurrencies like Bitcoin (BTC) do not have a central party to decide the fate of user funds.

 

written by Helen Partz

https://cointelegraph.com/news/kyrgyzstan-s-central-bank-suspends-swift-to-prevent-capital-outflow

Chris Corey

NOWPayments Review An Easy to Integrate Crypto Payment Gateway

NOWPayments Review – An Easy to Integrate Crypto Payment Gateway


NOWPayments is a custody-free cryptocurrency payment processor that simplifies the process of accepting and making crypto payments from all across the world.

In this Altcoin Explorer, we deep dive into NOWPayments, a cryptocurrency payment gateway that allows merchants to seamlessly accept and make payments in cryptocurrencies such as Bitcoin, Ethereum, Litecoin, and fiat-pegged stablecoins.

NOWPayments.io Review: How to Integrate?

NOWPayments describes itself as the easiest way to accept cryptocurrency payments, and it is hard to argue otherwise. Established by leading cryptocurrency exchange service ChangeNOW in 2019, NOWPayments has quickly cemented itself as the go-to cryptocurrency payment gateway with rich user experience.

Integration via API

With a sleek and intuitive user-interface, NOWPayments provides a simple, hassle-free, and secure API that can be integrated into any platform to enable crypto payments and receipts. The process of integrating NOWPayments into a platform is quite simple, as explained below.

Steps to Integrate NOWPayments API

To enjoy the benefits of NOWPayments.io API, users are required to follow the given steps:

1) Sign-up at NOWPayments.io with your email and set up an account after email verification

2) Sign-in to your NOWPayments account and access the Dashboard page

3) Click on the “Add new key” button and save the API key displayed

4) Access the digital wallet to withdraw funds on “Outcome wallet” page

5) You can now use the API to accept and send crypto payments

In addition to the API, NOWPayments can be integrated in several other ways.

Integration via Widget and Buttons

For instance, the NOWPayments widget is an easy way to integrate the crypto gateway service on the platform. Just copy a small source code and paste it to your web page, and you’re good to go.  Once integrated, the widget can be used for a variety of purposes including accepting quick donations in more than 50 cryptocurrencies. Additionally, the donation does not even require the users to leave the page as the widget allows them to pay from right where they are. Similarly, users can also integrate NOWPayments via buttons. Notably, the donation button can be placed anywhere on the website. Whenever a user clicks on the but, they will be redirected to the exact page where they can donate.

Additional Merchant Integration Options

In addition to the aforementioned integration options, NOWPayments offers several platform-specific plug-ins to cater to merchants’ business needs. 

WooCommerce Integration

For instance, the WooCommerce plug-in equips merchants with their stores on WordPress to start accepting cryptocurrency payments with ease. It also takes care of the discrepancy in cryptocurrencies, courtesy of ChangeNOW’s auto-conversion feature. This means that if a merchant only accepts payments in BTC and the customer wants to pay in ETH, then the NOWPayment plug-in’s auto-conversion feature will automatically convert the incoming ETH into BTC and deposit it to the merchant’s wallet.

WHMCS Integration

Similar to the WooCommerce plugin, if a user’s web store is built on the WHMCS marketplace, then they can choose to integrate NOWPayments crypto payments services via the WHMCS plugin. 

Magento 2 Integration

NOWPayments offers the Magento 2 plugin that can be utilized to enable your web store to accept and send crypto payments. To use this plugin, users are required to login to the Magento Admin page and configure the payment method. After entering the correct API Key and IPN secret key, users can start receiving crypto payments on their platform. You can learn more about the Magento 2 plugin here. 

OpenCart Integration

Users that operate their platform on the OpenCart management system can utilize the OpenCart plug-in to permit crypto payments. Interested users can go through the detailed steps for OpenCart plug-in integration here.

Integration via Instant Payments Notifications

NOWPayments provides another simple to use method of integration in the form of Instant Payments Notifications (IPS). IPS feature keeps the sellers in the loop of the current state of the transaction. Whenever there is a change in the status of the transaction, IPS notifies the involved parties to ensure that all are on the same page. 

Myriad Features of NOWPayments

NOWPayments understands the several bottlenecks hindering the mainstream adoption of cryptocurrencies as a viable medium of payments and, therefore, focuses on making the crypto user experience as seamless as possible. To ensure that its users enjoy a smooth crypto experience, NOWPayments provides a swathe of cutting-edge features. 

Automatic Coin Conversion

Cryptocurrencies are volatile. Therefore, to protect users from the wild price swings, NOWPayments leverages ChangeNOW’s auto coin conversion mechanism to provide the option to convert cryptocurrencies into fiat-pegged stablecoins, ensuring that users can transact in crypto without worrying about its price.

Rapid Withdrawals 

It is essential to have quick access to currencies that are volatile to ensure users do not lose out on their transactional gains due to unanticipated price fluctuations. Keeping this in mind, NOWPayments offers instant crypto payment withdrawals to all its users. As soon as a payment arrives, it is instantly transferred to the users’ secure personal wallet where they can access their funds.

Unparalleled Security

Speaking of wallets, NOWPayments gives utmost priority to the safety of its users’ funds. To that effect, NOWPayments has developed itself into a custody-free service. All payments received by a user are instantly converted into crypto and sent to a wallet that only the user has access to. Not even NOWPayments can access these wallets.

24 Hour Payment Window

The cryptocurrency market is round the clock market, and it only makes sense for services that operate in this space to cater to their clients’ needs 24/7. NOWPayments ensures this through its 24-hour payment window that essentially allows users to complete transactions up to 24 hours after creating a payment. Further, keeping in mind the need for rapid settlements for cryptocurrencies, NOWPayments provides instant transaction speeds. NOWPayments ensures the payment and receipt of funds is settled in as less as 5 minutes, faster than anywhere else in the world.

24/7 Support

At the same time, NOWPayments also provides continuous 24/7 customer care support to address any issues that its customers might face unexpectedly. Users can contact NOWPayments support heroes at support@nowpayments.io.

Support for Over 50 Cryptocurrencies and Counting

At the time of writing, NOWPayments supports more than 50 cryptocurrencies and continues to add more cryptocurrencies to its catalog regularly. Some of the most prominent cryptocurrencies supported by NOWPayments include Bitcoin, Ethereum, Litecoin, Bitcoin Cash, and BinanceCoin, among several others. Besides, NOWPayments also supports a wide variety of stablecoins such as USDT, GUSD, BUSD, PAX, and TUSD for users who’d want to enjoy the benefits of cryptocurrencies without the volatility.

NOWPayments Invoice

Recently, NOWPayments introduced the multi-utility Invoice feature that makes the user’s platform look more sophisticated and polished and promotes operational efficiency. The Invoice feature simplifies the payment process in that it doesn’t require the user to share their wallet address or the exact sum to be paid. Rather, with convenience at its core, Invoice allows users to make crypto transactions by only specifying a small sum, a description, and the type of currency. In addition, Invoice helps users to make immediate payments with just a single click, thereby saving time for both the clients and the recipients. Invoice also allows users to keep a record of their past transactions to track the movement of their funds and help with taxation. To learn more about how to integrate Invoice into your platform, click here.

Competitive Transaction Fee

Crypto transaction processing fees can, over time, make a significant dent in user’s pockets, thereby discouraging them from embracing crypto as a viable medium of payment. NOWPayments fixes this. NOWPayments introduces an innovative approach to tackle the transaction fees. If a user’s monthly asset flow in BTC terms crosses a certain threshold, then NOWPayment would offer that user with a smaller fee. What’s more, if a user reaches the target volume toward the end of the month, NOWPayments will pay them a rebate adjusted for the fee difference. In a nutshell, the higher the transaction volume incurred by a user, the smaller the transaction fee that they would have to pay. The following infographic sheds light on the specifics of the fee discount offered by NOWPayments.

Strong Backing from Partners

A primary concern among those looking to enter the cryptocurrency space is that of legitimacy. Indeed, the numerous scams and Ponzi schemes in the industry have slightly marred its public image. This begs the question, is NOWPayments legit?  To answer it, NOWPayments is a highly-reputed and trusted name in the industry which enjoys tremendous goodwill among its users. NOWPayments has numerous impactful partners including Travala.com, and Guarda Wallet, among others, which is a testimony to the platform’s legitimacy. 

Final Thoughts

Concluding, NOWPayments addresses and fixes several of the major obstacles hindering the wider use of cryptocurrencies among businesses. NOWPayments not only ensures the protection of users from the notorious price swings observed in cryptocurrencies but also benefits them by offering a battle-hardened and time-tested crypto integration solution that can be deployed without any hassle. NOWPayments’ minuscule transaction fee, coupled with its plethora of robust features, provides an excellent opportunity for any business interested in readying itself for tomorrow’s cryptocurrency-driven economy.

Article Produced By
Aisshwarya Tiwar

Aisshwarya is a freelance writer and editor who relishes writing about magic Internet money. He has worked as a financial consultant and holds a degree in Business and Economics and a post-graduate diploma in Liberal Studies. In his free time, Aisshwarya likes to make 8-bit music.

https://btcmanager.com/nowpayments-review-easy-integrate-crypto-payment-gateway/

Chris Corey

Bitcoin Ether and XRP Weekly Market Update October 5 2020

Bitcoin, Ether, and XRP Weekly Market Update October 5, 2020


The total crypto market cap lost $6.7 billion of its value for the last seven days and now stands at $339.8 billion.

The top 10 currencies are mostly in red for the same period with ChainLink (LINK) loosing 12.5 percent while Binance Coin (BNB) added 10.8 percent. By the time of writing bitcoin is trading at $10,673, ether (ETH) is hovering around $351. Ripple (XRP) moved up to $0.248.

BTC/USD

Bitcoin moved above the $10,700 resistance zone on Sunday, September 27, and closed the week with a 1.3 percent loss. The coin was on its way up ever since it touched the $10,100 horizontal support on the daily timeframe on September 23 and successfully surpassed both the 100-day and 26-day EMAs. The BTC/USD pair opened the new trading period on Monday by forming a short red candle to $10,680. Buyers even managed to push the price up to $10,943 during intraday, but the momentum was not strong enough to fuel a run towards the next resistance at $11,000. On Tuesday, September 29 the leading cryptocurrency once again changed direction. It moved up to $10,840 as the monthly close was fast approaching. A close above $10,700 would keep the bullish case intact. The mid-week session on Wednesday saw a break below the above-mentioned line in the early hours of trading. In the evening BTC managed to recover and closed the month at $10,771 thus keeping the uptrend alive. The coin was 7.5 percent down on a monthly basis.

On Thursday, October 1, the BTC/USD pair climbed up to $10,940 during intraday, but then started to drop and eventually closed the day with a loss to $10,619. We even saw bears pushing the price below the support line and then all the way down to $10,430. The Friday session found BTC hitting the next horizontal support, the monthly one near $10,360 in the early hours of trading. It formed a short red candle to $10,575. The weekend of October 3-4 started with a fourth-straight losing session for bitcoin on Saturday as it touched the 100-day EMA at $10,550. On Sunday, it slightly recovered and closed the week at $10,673, re-entering the resistance area.

ETH/USD

The Ethereum Project token ETH was on its way up since it hit the weekly support zone near $315 on September 23. The coin formed its fourth consecutive green candle on the daily chart on Sunday, September 27, and closed the seven-day period at $357, right in the middle of the $360-$350 resistance area. The ether was still 3.6 percent down for the week. On Monday, the ETH/USD pair fell down to $353, but not before reaching $370 during intraday. Bulls were attempting to break above the daily resistance, but it proofed to be a solid one. On Tuesday, September 29 they were once again rejected at $360 as the lack of momentum combined with the flat trading volumes could not trigger a new uptrend movement.

The Wednesday session, which was also the last for September, was a low volatility one and the ETH token remained flat. It registered a 16.8 loss on a monthly basis. The leading altcoin saw some great instability on Thursday, October 1. It was trading in the wide range between $370-$344 before closing with a loss to $252 thus erasing 2.2 percent of its value. The ether continued to slide on Friday, ending the workweek at $345. The bear pressure was increasing and sellers succeeded in dragging the price down to the local horizontal support near $335 at some point during the day. The ETH token started the weekend with a low volatility session on Saturday, during which it remained flat. Then on Sunday it started moving up and ended the seven-day period with a green candle to $352.

XRP/USD

The Ripple company token XRP climbed up to $0.243 on Sunday, September 27, and hit the 26-day EMA after successfully confirming its presence above the 100-day one. It closed the seven-day period 1.2 percent lower. The XRP/USD pair started trading on Monday by moving all the way up to $0.248 during intraday. Bulls, however, were not able to keep up the pace and started to lose moment, closing the session at $0.241 and with a small loss. On Tuesday, September 29, one of the leading altcoins was trading in the $0.238-$0.246 once again forming a green candle on the daily chart. The “ripple” coin was now caught in a local consolidation. The mid-week session on Wednesday found XRP dropping down to $0.237 in the morning before recovering to $0.241 in the second part of the trading day. The coin closed the month of September with a 14.2 percent loss.

On Thursday, October 1, the 26 and 100-day EMAs crossed at $0.241, which served as a resistance point for the XRP/USD pair. It dropped down to $0.238 and erased yet another 1.5 percent of its value. XRP continued to slide on the last day of the workweek ending the session at $0.234, but not before breaking below the $0.23 horizontal support during intraday. The first day of the weekend came with a continuation of the downtrend, this time to $0.23.On Sunday, October 4, however, we saw a big reversal in the current direction as bulls formed a solid green candle to $0.248, which resulted in a 7.8 percent increase.

Altcoin of the Week

Our Altcoin of the week is Arweave (AR). One of the few altcoins to close the week on green territory, this little-known cryptocurrency grew by 24.2 percent for the last seven days and is also 14.8 percent up for the two-week period. Arweave is a new type of decentralized storage, which uses the blockchain technology to preserve customer data in a more effective way. It reached a high of $5.27 on Monday, September 28, and moved up to #69 on the CoinGecko’s Top 100 list with a total market capitalization of approximately $182 million. As of the time of writing, AR is trading at 0.000390 against BTC on Bittrex:

Article Produced By
Georgi Hristov

Georgi Hristov is a crypto and blockchain enthusiast from Sofia, Bulgaria. He holds a bachelor's degree in intellectual property and a master's in international finances. He has been involved in the cryptosphere as a trader, miner, and blogger.

https://btcmanager.com/bitcoin-ether-and-xrp-weekly-market-update-october-5-2020/

Chris Corey

Trump delays stimulus Bitcoin dumps shortly thereafter

Bitcoin's correlation with traditional markets appears to continue.

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Back and forth discussions with regard to a second stimulus package for the people of the United States have been ongoing for months. Today, President Trump decided to push the matter back until after the 2020 presidential elections have concluded. This appears to have resulted in a price drop for Bitcoin (BTC) and other mainstream markets.

"Nancy Pelosi is asking for $2.4 Trillion Dollars to bailout poorly run, high crime, Democrat States, money that is in no way related to COVID-19," Trump said in an Oct. 6 tweet thread.

"We made a very generous offer of $1.6 Trillion Dollars and, as usual, she is not negotiating in good faith. I am rejecting their request, and looking to the future of our Country."
No further stimulus package talk will occur prior to the election, the president said in subsequent tweets, while boldly forecasting victory. "Immediately after I win, we will pass a major Stimulus Bill that focuses on hardworking Americans and Small Business," he posted.

Following these tweets, the market responded in disapproval. Stocks fell noticeably, while Bitcoin dropped approximately $200 before bouncing slightly, holding a press time price of $10,577.

Bitcoin's drop seems to suggest that the asset's price continues to react in tandem with mainstream markets, at least with regard to major fiscal news. For some, this holds as antithetical to the asset's supposed role as a non-correlated store of value.

 

written by Benjamin Pirus

https://cointelegraph.com/news/trump-delays-stimulus-bitcoin-dumps-in-shortly-thereafter

Chris Corey