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https://cryptocontrol.io/r/rss/article/5fd6ee1def638a001d20bba8
5fd6ee1def638a001d20bba8
<div class=”td-post-featured-image”><a href=”https://www.altcoinbuzz.io/wp-content/uploads/2020/12/switcheo-otc-trading.jpg” data-caption><img width=”696″ height=”365″ class=”entry-thumb td-modal-image” src=”https://www.altcoinbuzz.io/wp-content/uploads/2020/12/switcheo-otc-trading-696×365.jpg” srcset=”https://www.altcoinbuzz.io/wp-content/uploads/2020/12/switcheo-otc-trading-696×365.jpg 696w, https://www.altcoinbuzz.io/wp-content/uploads/2020/12/switcheo-otc-trading-300×158.jpg 300w, https://www.altcoinbuzz.io/wp-content/uploads/2020/12/switcheo-otc-trading-1024×538.jpg 1024w, https://www.altcoinbuzz.io/wp-content/uploads/2020/12/switcheo-otc-trading-768×403.jpg 768w, https://www.altcoinbuzz.io/wp-content/uploads/2020/12/switcheo-otc-trading-1068×561.jpg 1068w, https://www.altcoinbuzz.io/wp-content/uploads/2020/12/switcheo-otc-trading-800×420.jpg 800w, https://www.altcoinbuzz.io/wp-content/uploads/2020/12/switcheo-otc-trading.jpg 1200w” sizes=”(max-width: 696px) 100vw, 696px” alt=”Switcheo Network – Understand How OTC Trading Works” title=”Switcheo Network – Understand How OTC Trading Works”></a></div>
<h4><strong>In our previous articles, we have explained how you can use the <a href=”https://www.altcoinbuzz.io/bitcoin-and-crypto-guide/switcheo-network-how-to-trade-on-the-switcheo-exchange/”>Switcheo Exchange</a>, the Switcheo <a href=”https://www.altcoinbuzz.io/bitcoin-and-crypto-guide/switcheo-network-understand-how-to-stake-swth-token/”>staking platform</a>, and how you can use the <a href=”https://www.altcoinbuzz.io/bitcoin-and-crypto-guide/switcheo-network-understand-how-zilswap-works/”>Zilswap protocol</a>. Apart from these three important features, Switcheo also allows users to do OTC Trading. In this article, we will explore how you can do it, as well as the remaining features supported by the Switcheo network.</strong></h4>
<div id=”ez-toc-container” class=”ez-toc-v2_0_11 ez-toc-wrap-left counter-hierarchy counter-decimal ez-toc-grey”>
<div class=”ez-toc-title-container”>
<p class=”ez-toc-title”>Table of Contents</p>
<span class=”ez-toc-title-toggle”><a class=”ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle”><i class=”ez-toc-glyphicon ez-toc-icon-toggle”></i></a></span></div>
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<h5><span class=”ez-toc-section” id=”Switcheo-OTC-Platform”></span><strong>Switcheo OTC Platform</strong><span class=”ez-toc-section-end”></span></h5>
<p>The <a href=”https://switcheo.exchange/otc” target=”_blank” rel=”noopener noreferrer”>Switcheo OTC trading</a> platform allows crypto buyers and sellers to connect directly. The involved parties set the trading conditions, and once agreed upon, they perform the trade without using any exchange facility.</p>
<p>Currently, the <a href=”https://switcheo.network/” target=”_blank” rel=”noopener noreferrer”>Switcheo network</a> offers OTC trading for both the <a href=”https://ethereum.org/en/” target=”_blank” rel=”noopener noreferrer”>Ethereum</a> and <a href=”https://neo.org/” target=”_blank” rel=”noopener noreferrer”>NEO</a> networks. It offers a very low fee, and to minimize the risk of trading, it uses a smart contract to act as an escrow.</p>
<p><strong>Important:</strong> For OTC trading, users need to have the minimum amount in the contract balance.</p>
<p>Login to the Switcheo OTC platform by using this <a href=”https://switcheo.exchange/otc” target=”_blank” rel=”noopener noreferrer”>link</a>.</p>
<p><img class=”aligncenter size-full wp-image-42531″ src=”https://www.altcoinbuzz.io/wp-content/uploads/2020/12/landing-2.jpg” alt=”Switcheo OTC Trading” width=”1283″ height=”768″ data-lazy-srcset=”https://www.altcoinbuzz.io/wp-content/uploads/2020/12/landing-2.jpg 1283w, https://www.altcoinbuzz.io/wp-content/uploads/2020/12/landing-2-300×180.jpg 300w, https://www.altcoinbuzz.io/wp-content/uploads/2020/12/landing-2-1024×613.jpg 1024w, https://www.altcoinbuzz.io/wp-content/uploads/2020/12/landing-2-768×460.jpg 768w, https://www.altcoinbuzz.io/wp-content/uploads/2020/12/landing-2-696×417.jpg 696w, https://www.altcoinbuzz.io/wp-content/uploads/2020/12/landing-2-1068×639.jpg 1068w, https://www.altcoinbuzz.io/wp-content/uploads/2020/12/landing-2-702×420.jpg 702w” data-lazy-sizes=”(max-width: 1283px) 100vw, 1283px”></p><noscript><img class=”aligncenter size-full wp-image-42531″ src=”https://www.altcoinbuzz.io/wp-content/uploads/2020/12/landing-2.jpg” alt=”Switcheo OTC Trading” width=”1283″ height=”768″ srcset=”https://www.altcoinbuzz.io/wp-content/uploads/2020/12/landing-2.jpg 1283w, https://www.altcoinbuzz.io/wp-content/uploads/2020/12/landing-2-300×180.jpg 300w, https://www.altcoinbuzz.io/wp-content/uploads/2020/12/landing-2-1024×613.jpg 1024w, https://www.altcoinbuzz.io/wp-content/uploads/2020/12/landing-2-768×460.jpg 768w, https://www.altcoinbuzz.io/wp-content/uploads/2020/12/landing-2-696×417.jpg 696w, https://www.altcoinbuzz.io/wp-content/uploads/2020/12/landing-2-1068×639.jpg 1068w, https://www.altcoinbuzz.io/wp-content/uploads/2020/12/landing-2-702×420.jpg 702w” sizes=”(max-width: 1283px) 100vw, 1283px”></noscript>
<p>Connect your MetaMask wallet (Ethereum network).</p>
<p>The users who initiate the OTC trading fill the following details in the fields:</p>
<ul>
<li>Input token</li>
<li>Receiving token</li>
<li>Amount of input and output token</li>
<li>Counterparty address</li>
</ul>
<p>The platform automatically enters your (initiator’s) wallet address in the <strong>My Address</strong> field.</p>
<p><img class=”aligncenter size-full wp-image-42532″ src=”https://www.altcoinbuzz.io/wp-content/uploads/2020/12/otc-trade.jpg” alt=”Switcheo OTC Trading” width=”753″ height=”377″ data-lazy-srcset=”https://www.altcoinbuzz.io/wp-content/uploads/2020/12/otc-trade.jpg 753w, https://www.altcoinbuzz.io/wp-content/uploads/2020/12/otc-trade-300×150.jpg 300w, https://www.altcoinbuzz.io/wp-content/uploads/2020/12/otc-trade-696×348.jpg 696w” data-lazy-sizes=”(max-width: 753px) 100vw, 753px”></p><noscript><img class=”aligncenter size-full wp-image-42532″ src=”https://www.altcoinbuzz.io/wp-content/uploads/2020/12/otc-trade.jpg” alt=”Switcheo OTC Trading” width=”753″ height=”377″ srcset=”https://www.altcoinbuzz.io/wp-content/uploads/2020/12/otc-trade.jpg 753w, https://www.altcoinbuzz.io/wp-content/uploads/2020/12/otc-trade-300×150.jpg 300w, https://www.altcoinbuzz.io/wp-content/uploads/2020/12/otc-trade-696×348.jpg 696w” sizes=”(max-width: 753px) 100vw, 753px”></noscript>
<p>Confirm the transaction by clicking <strong>Create &amp; Sign</strong>.</p>
<p>The transaction will appear in the <strong>Pending Trades</strong> window. The counterparty needs to accept the transaction to complete the trade.</p>
<p>However, we have noticed that there is some issue with the OTC platform (Ethereum network), and it was throwing an error.</p>
<p><img class=”aligncenter size-full wp-image-42533″ src=”https://www.altcoinbuzz.io/wp-content/uploads/2020/12/error.jpg” alt=”Switcheo OTC Trading” width=”668″ height=”318″ data-lazy-srcset=”https://www.altcoinbuzz.io/wp-content/uploads/2020/12/error.jpg 668w, https://www.altcoinbuzz.io/wp-content/uploads/2020/12/error-300×143.jpg 300w” data-lazy-sizes=”(max-width: 668px) 100vw, 668px”></p><noscript><img class=”aligncenter size-full wp-image-42533″ src=”https://www.altcoinbuzz.io/wp-content/uploads/2020/12/error.jpg” alt=”Switcheo OTC Trading” width=”668″ height=”318″ srcset=”https://www.altcoinbuzz.io/wp-content/uploads/2020/12/error.jpg 668w, https://www.altcoinbuzz.io/wp-content/uploads/2020/12/error-300×143.jpg 300w” sizes=”(max-width: 668px) 100vw, 668px”></noscript>
<p>We have communicated the issue to the project team. We will update the guide once again when the issue is resolved.</p>
<h5><span class=”ez-toc-section” id=”DEMEX”></span><strong>DEMEX</strong><span class=”ez-toc-section-end”></span></h5>
<p>Demex is the first fully decentralized platform that supports any type of financial market possible. It is set to run on the Switcheo TradeHub decentralized trading protocol.</p>
<h5><span class=”ez-toc-section” id=”Switcheo-Foundation”></span><a href=”https://switcheo.foundation/”><strong>Switcheo Foundation</strong></a><span class=”ez-toc-section-end”></span></h5>
<p>Switcheo Foundation is an ambitious non-profit project that aims to create a truly open, self-regulating financial market without any intervention of central authority.</p>
<h5><span class=”ez-toc-section” id=”Listing-Policy-On-Switcheo”></span><strong>Listing Policy On Switcheo</strong><span class=”ez-toc-section-end”></span></h5>
<p>To list on the Switcheo DEX, the token projects must meet at least one of the following criteria:</p>
<ol>
<li>Have high utility.</li>
</ol>
<ul>
<li>
<ul>
<li>Have more than $50m market capitalization.</li>
<li>Strong demand for token due to high usage (utility).</li>
<li>High global liquidity allows external market makers to voluntarily participate with low exposure risk.</li>
</ul>
</li>
</ul>
<ol start=”2″>
<li>Will conduct an initial listing on the Switcheo Exchange.</li>
</ol>
<ul>
<li>
<ul>
<li>Has raised above $1m.</li>
<li>Up to 10% raised should be committed to providing liquidity until their token is fully usable (utility unlocked).</li>
<li>Has not been listed on any major exchange.</li>
<li>Have strong eventual tokenomics (demonstrates utility).</li>
</ul>
</li>
</ul>
<ol start=”3″>
<li>Will provide liquidity through the Switcheo DEX’s market-making partners.</li>
</ol>
<ul>
<li>
<ul>
<li>Have more than $3m market capitalization.</li>
<li>Have strong eventual tokenomics (demonstrates utility).</li>
</ul>
</li>
</ul>
<ol start=”4″>
<li>Is a stablecoin.</li>
</ol>
<ul>
<li>
<ul>
<li>Is either algorithmic or backed by a Trust company.</li>
</ul>
</li>
</ul>
<h5><span class=”ez-toc-section” id=”Switcheo-Account-Security-Features”></span><strong>Switcheo Account Security Features</strong><span class=”ez-toc-section-end”></span></h5>
<p>The Switcheo Network offers the following security parameters to maintain a high level of safety in the system as well as to the traders.</p>
<ul>
<li>
<ul>
<li><strong>&nbsp;</strong><strong>Multi-layer Trustless Encryption –</strong> The mnemonics stored on Switcheo are encrypted with the user’s password. Using an isolated service, Switcheo offers an additional layer of encryption that further encrypts this already-encrypted-mnemonic with a strong server-side encryption key before it is stored in the Switcheo database.</li>
<li><strong>Two-Factor Authentication (2FA) –</strong> Users need to set up two-factor authentication (2FA) before starting trading.</li>
<li><strong>Anti-Phishing Code – </strong>Users need to set up anti-phishing code while creating an account.</li>
<li><strong>IP Address Verification – </strong>The user’s IP address and their location is saved and marked as trusted while verifying the email address during account setup. Each time, the system verifies your details when you try to login with your account. If it is not trusted, then you are required to enter the security code sent to your email.</li>
<li><strong>Isolated Decryption –</strong> The wallet’s mnemonic key is decrypted completely on the front-end web application without any network communication that protects the exposure of secret keys from the intruder.</li>
</ul>
</li>
</ul>
<h5><span class=”ez-toc-section” id=”Fees”></span><strong>Fees</strong><span class=”ez-toc-section-end”></span></h5>
<p>The Switcheo network has a defined fee structure for users. And they have categorized the fee depending upon various levels.</p>
<p>The different fee structures are as follows:</p>
<h6><span class=”ez-toc-section” id=”Trading-Fees”></span><strong>Trading Fees</strong><span class=”ez-toc-section-end”></span></h6>
<ul>
<li><strong>Maker:</strong> A maker is a person who has placed an order, and the order gets added into the open order-book but it is waiting to be matched. No fee is charged when another user fills your order.</li>
<li><strong>Taker:</strong> When the order placed by you is immediately matched against an order in the order book, in that case, you are a taker. Takers need to pay the full taker and network fee as the activity reduces the exchange’s liquidity.</li>
<li><strong>Swap:</strong> For cross-chain atomic swap trading, a taker and network fee is charged from the taker.</li>
</ul>
<p><strong> <img class=”aligncenter size-full wp-image-42534″ src=”https://www.altcoinbuzz.io/wp-content/uploads/2020/12/trading-fee.jpg” alt=”Switcheo OTC Trading” width=”781″ height=”219″ data-lazy-srcset=”https://www.altcoinbuzz.io/wp-content/uploads/2020/12/trading-fee.jpg 781w, https://www.altcoinbuzz.io/wp-content/uploads/2020/12/trading-fee-300×84.jpg 300w, https://www.altcoinbuzz.io/wp-content/uploads/2020/12/trading-fee-768×215.jpg 768w, https://www.altcoinbuzz.io/wp-content/uploads/2020/12/trading-fee-696×195.jpg 696w” data-lazy-sizes=”(max-width: 781px) 100vw, 781px”></strong></p><noscript><img class=”aligncenter size-full wp-image-42534″ src=”https://www.altcoinbuzz.io/wp-content/uploads/2020/12/trading-fee.jpg” alt=”Switcheo OTC Trading” width=”781″ height=”219″ srcset=”https://www.altcoinbuzz.io/wp-content/uploads/2020/12/trading-fee.jpg 781w, https://www.altcoinbuzz.io/wp-content/uploads/2020/12/trading-fee-300×84.jpg 300w, https://www.altcoinbuzz.io/wp-content/uploads/2020/12/trading-fee-768×215.jpg 768w, https://www.altcoinbuzz.io/wp-content/uploads/2020/12/trading-fee-696×195.jpg 696w” sizes=”(max-width: 781px) 100vw, 781px”></noscript>
<h6><span class=”ez-toc-section” id=”Deposit-Fees”></span><strong>Deposit Fees</strong><span class=”ez-toc-section-end”></span></h6>
<p>Users need to deposit some <a href=”https://www.altcoinbuzz.io/cryptocurrency-news/product-release/report-offers-deep-dive-into-eth-2-0/”>ETH</a> in the secure contract before doing trading. The trade amount, along with the gas fee, is deducted from this secure balance.</p>
<p>Below is the list of the fees charged for depositing tokens.</p>
<p><img class=”aligncenter size-full wp-image-42535″ src=”https://www.altcoinbuzz.io/wp-content/uploads/2020/12/deposit-fee.jpg” alt=”Switcheo OTC Trading” width=”783″ height=”217″ data-lazy-srcset=”https://www.altcoinbuzz.io/wp-content/uploads/2020/12/deposit-fee.jpg 783w, https://www.altcoinbuzz.io/wp-content/uploads/2020/12/deposit-fee-300×83.jpg 300w, https://www.altcoinbuzz.io/wp-content/uploads/2020/12/deposit-fee-768×213.jpg 768w, https://www.altcoinbuzz.io/wp-content/uploads/2020/12/deposit-fee-696×193.jpg 696w” data-lazy-sizes=”(max-width: 783px) 100vw, 783px”></p><noscript><img class=”aligncenter size-full wp-image-42535″ src=”https://www.altcoinbuzz.io/wp-content/uploads/2020/12/deposit-fee.jpg” alt=”Switcheo OTC Trading” width=”783″ height=”217″ srcset=”https://www.altcoinbuzz.io/wp-content/uploads/2020/12/deposit-fee.jpg 783w, https://www.altcoinbuzz.io/wp-content/uploads/2020/12/deposit-fee-300×83.jpg 300w, https://www.altcoinbuzz.io/wp-content/uploads/2020/12/deposit-fee-768×213.jpg 768w, https://www.altcoinbuzz.io/wp-content/uploads/2020/12/deposit-fee-696×193.jpg 696w” sizes=”(max-width: 783px) 100vw, 783px”></noscript>
<h6><span class=”ez-toc-section” id=”Withdrawal-Fees”></span><strong>Withdrawal Fees</strong><span class=”ez-toc-section-end”></span></h6>
<p>The withdrawal fee is different for Switcheo account users and non-Switcheo account users.</p>
<ul>
<li><strong>Switcheo Account Users</strong></li>
</ul>
<p>Switcheo account users are subjected to slightly higher withdrawal fees as two blockchain transactions are required.</p>
<p>Users need to pay charges for transferring tokens from their secure contract to their wallet balance and again from their wallet to the receiving wallet.<img class=”aligncenter size-full wp-image-42536″ src=”https://www.altcoinbuzz.io/wp-content/uploads/2020/12/SAU.jpg” alt=”Switcheo OTC Trading” width=”784″ height=”218″ data-lazy-srcset=”https://www.altcoinbuzz.io/wp-content/uploads/2020/12/SAU.jpg 784w, https://www.altcoinbuzz.io/wp-content/uploads/2020/12/SAU-300×83.jpg 300w, https://www.altcoinbuzz.io/wp-content/uploads/2020/12/SAU-768×214.jpg 768w, https://www.altcoinbuzz.io/wp-content/uploads/2020/12/SAU-696×194.jpg 696w” data-lazy-sizes=”(max-width: 784px) 100vw, 784px”></p><noscript><img class=”aligncenter size-full wp-image-42536″ src=”https://www.altcoinbuzz.io/wp-content/uploads/2020/12/SAU.jpg” alt=”Switcheo OTC Trading” width=”784″ height=”218″ srcset=”https://www.altcoinbuzz.io/wp-content/uploads/2020/12/SAU.jpg 784w, https://www.altcoinbuzz.io/wp-content/uploads/2020/12/SAU-300×83.jpg 300w, https://www.altcoinbuzz.io/wp-content/uploads/2020/12/SAU-768×214.jpg 768w, https://www.altcoinbuzz.io/wp-content/uploads/2020/12/SAU-696×194.jpg 696w” sizes=”(max-width: 784px) 100vw, 784px”></noscript>
<ul>
<li><strong>Non-Switcheo Account Users</strong></li>
</ul>
<p>Non-Switcheo account users are charged a withdrawal fee in the withdrawal token’s denomination to transfer the tokens from the exchange smart contract back into your Switcheo account wallet.</p>
<p><img class=”aligncenter size-full wp-image-42537″ src=”https://www.altcoinbuzz.io/wp-content/uploads/2020/12/NSAU.jpg” alt=”Switcheo OTC Trading” width=”783″ height=”220″ data-lazy-srcset=”https://www.altcoinbuzz.io/wp-content/uploads/2020/12/NSAU.jpg 783w, https://www.altcoinbuzz.io/wp-content/uploads/2020/12/NSAU-300×84.jpg 300w, https://www.altcoinbuzz.io/wp-content/uploads/2020/12/NSAU-768×216.jpg 768w, https://www.altcoinbuzz.io/wp-content/uploads/2020/12/NSAU-696×196.jpg 696w” data-lazy-sizes=”(max-width: 783px) 100vw, 783px”></p><noscript><img class=”aligncenter size-full wp-image-42537″ src=”https://www.altcoinbuzz.io/wp-content/uploads/2020/12/NSAU.jpg” alt=”Switcheo OTC Trading” width=”783″ height=”220″ srcset=”https://www.altcoinbuzz.io/wp-content/uploads/2020/12/NSAU.jpg 783w, https://www.altcoinbuzz.io/wp-content/uploads/2020/12/NSAU-300×84.jpg 300w, https://www.altcoinbuzz.io/wp-content/uploads/2020/12/NSAU-768×216.jpg 768w, https://www.altcoinbuzz.io/wp-content/uploads/2020/12/NSAU-696×196.jpg 696w” sizes=”(max-width: 783px) 100vw, 783px”></noscript>
<h6><span class=”ez-toc-section” id=”Network-Fees”></span><strong>Network Fees</strong><span class=”ez-toc-section-end”></span></h6>
<ul>
<li><strong>&nbsp; &nbsp; &nbsp; Ethereum</strong>
<ul>
<li>
<ul>
<li>
<ul>
<li>
<ul>
<li>
<ul>
<li><strong>Maker: </strong>Free</li>
<li><strong>Taker: </strong>Typically – 170,000 to 870,000 GAS x (ETH Gas Price)</li>
</ul>
</li>
</ul>
</li>
</ul>
</li>
</ul>
</li>
</ul>
</li>
<li><strong>&nbsp; &nbsp; &nbsp; NEO</strong>
<ul>
<li>
<ul>
<li>
<ul>
<li>
<ul>
<li>
<ul>
<li><strong>Maker: </strong>Free</li>
<li><strong>Taker: </strong>001 GAS to 0.002 GAS</li>
</ul>
</li>
</ul>
</li>
</ul>
</li>
</ul>
</li>
</ul>
</li>
<li><strong>&nbsp; &nbsp; &nbsp;<a href=”https://eos.io/” target=”_blank” rel=”noopener noreferrer”>EOS</a></strong>
<ul>
<li>
<ul>
<li>
<ul>
<li>
<ul>
<li>
<ul>
<li><strong>Maker: </strong>Free</li>
<li><strong>Taker: </strong>Free</li>
</ul>
</li>
</ul>
</li>
</ul>
</li>
</ul>
</li>
</ul>
</li>
</ul>
<p><strong>&nbsp;</strong><strong>Conclusion</strong></p>
<p>The Switcheo Exchange is one of the very few platforms that provide support to multiple blockchains together. The platform was initially built on NEO but currently supports Ethereum (ERC-20) and EOS tokens. It also allows for cross-chain and OTC trading. The interface is simple and user-friendly. The exchange supports more than 18 languages, which is a plus point. Altogether, it has many attractive offerings that can gather user attention.</p>

<p><strong>Resources: </strong>Switcheo Network <a href=”https://switcheo.network/” target=”_blank” rel=”noopener noreferrer”>website&nbsp;</a></p>
<p><strong>Read More: </strong><a href=”https://www.altcoinbuzz.io/bitcoin-and-crypto-guide/everything-you-need-to-know-about-wing-flash-pool-part-ii/”>Everything You Need To Know About Wing Flash Pool – Part II</a></p>
<p><strong><a href=”https://blockads.fivefilters.org”></a></strong> <a href=”https://blockads.fivefilters.org/acceptable.html”>(Why?)</a></p> Mon, 14 Dec 2020 04:27:42 +0000 altcoinbuzz.io
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https://cryptocontrol.io/r/rss/article/5fd66993acf3c00019826566
5fd66993acf3c00019826566
<div class=”featured-image”> <img class=”lazy imgcontainer 1 ” src=”https://www.financemagnates.com/wp-content/uploads/2019/01/grey-back-150×150.png” data-src=”https://www.financemagnates.com/wp-content/uploads/2019/02/Editors-Pick-02.jpg” data-srcset=”https://www.financemagnates.com/wp-content/uploads/2019/02/Editors-Pick-02.jpg 1x” alt=”pick of the week” width=”100%” height=”auto”></div><div class=”the-content”><p>In a busy week for news, let’s take a look at the stories that dominated the fintech, forex and crypto worlds, in our best of the week segment.</p><h2>Major Trading Outage Hits Interactive Brokers and Robinhood</h2><p>As <em>Finance Magnates</em> reported on Monday,&nbsp;US traders were foiled, yet again, by an inability to place or close trades on many trading platforms during early Monday trading.</p><p>Users at Robinhood and Interactive Brokers were reporting technical issues ranging from delays in order updates to being prevented from accessing their accounts and trades.</p><p>Read more on the major <a href=”https://www.financemagnates.com/forex/brokers/major-trading-outage-hit-interactive-brokers-and-robinhood/” target=”_blank” rel=”noopener”>trading outage at Interactive Brokers and Robinhood here</a>.</p><h2>France Launches Crackdown on Cryptocurrencies</h2><p>Bruno Le Maire, the Finance Minister of France, ordered all cryptocurrency providers to check and reveal the identity of&nbsp;cryptocurrency&nbsp;owners in an effort to stop the potential involvement of digital assets in terrorism financing.</p><p>In the latest announcement, the French politician asked virtual asset service providers to completely ban anonymous crypto wallets.</p><p>Read more on the <a href=”https://www.financemagnates.com/cryptocurrency/news/france-launches-crackdown-on-cryptocurrencies/” target=”_blank” rel=”noopener”>French Crypto Crackdown here</a>.</p><h2>Vitalik Buterin Warns about Security of Cryptocurrency Wallets</h2><p>Vitalik Buterin, a Canadian-Russian programmer and Co-founder of the world’s second-largest cryptocurrency, Ethereum, asked the crypto community to talk more about security. He said that user-friendly wallets are needed because current wallets are insecure for non-technical users.</p><p>During a conversation at the Latin American&nbsp;Bitcoin&nbsp;Conference, Buterin mentioned that the cryptocurrency market did not give much importance to the security side and that is why it is much easier to lose a large amount in digital assets if a cryptocurrency wallet breaks.</p><p>Read more on&nbsp;<a href=”https://www.financemagnates.com/cryptocurrency/news/vitalik-buterin-warns-about-security-of-cryptocurrency-wallets/” target=”_blank” rel=”noopener”>Vitalik Buterin’s crypto wallet security warning here</a>.</p><h2>eToro Triples Its Secondary Market Valuation to $2.5 Billion</h2><p>As <em>Finance Magnates</em> covered this week,&nbsp;the valuation of Israel-based brokerage,&nbsp;<a href=”https://www.financemagnates.com/tag/etoro/”>eToro</a>&nbsp;has surged to over $2.5 billion in the secondary markets from merely $800 million in its&nbsp;<a href=”https://www.financemagnates.com/cryptocurrency/news/cryptocurrencynewsbreaking-etoro-raises-100-million-eighth-funding-round/”>last funding round</a>&nbsp;which closed in 2018.</p><p>The valuation was confirmed by the <em>CalCalist</em> as a US-based institutional investor purchased at least $50 million worth of eToro shares from existing investors and former employees at a valuation of more than $2.5 billion.</p><div class=”fm-suggested-article”><h2>Suggested articles</h2><p>Are Alternative Payment Methods the New Banking King?<a href=”https://www.financemagnates.com/thought-leadership/are-alternative-payment-methods-the-new-banking-king/”>Go to article &gt;&gt;</a></p></div><p>Read more on the<a href=”https://www.financemagnates.com/forex/brokers/etoro-triples-its-secondary-market-valuation-to-2-5-billion/” target=”_blank” rel=”noopener”> eToro Secondary Market Valuation here</a>.</p><h2>World’s Top Hedge Fund Manager Compares Bitcoin with Gold</h2><p>American billionaire Hedge Fund Manager and Founder of Bridgewater Associates, Ray Dalio said that bitcoin and other cryptocurrencies have established themselves as alternative assets in the last decade.</p><p>In a Reddit post this week, Dalio changed his tone on&nbsp;cryptocurrencies&nbsp;and presented a positive stance on digital assets. He compared bitcoin with&nbsp;<a href=”https://www.financemagnates.com/cryptocurrency/news/gold-sees-9-2-billion-outflows-crypto-funds-gain-record-inflows/”>gold</a>&nbsp;and said that both have similarities as a store of value. The recent comments came as a surprise after Dalio bashed bitcoin last month for lack of adoption, high volatility and uncertain regulatory status.</p><p>Read more on&nbsp;<a href=”https://www.financemagnates.com/cryptocurrency/news/worlds-top-hedge-fund-manager-compares-bitcoin-with-gold/” target=”_blank” rel=”noopener”>Ray Dalio’s bitcoin comments here</a>.</p><h2>Steve Wozniak’s Cryptocurrency WOZX Reaches $950 Million in 13 Minutes</h2><p>Apple Co-founder Steve Wozniak’s recently launched&nbsp;Efforce’s WOZX crypto tokens received a tremendous response from investors as its market cap reached $950 million in the first 13 minutes of the launch.</p><p>The blockchain company Efforce, whose goal is to transform and disrupt the energy-efficient market, received a valuation of around $80 million by investors in private sales even before the official launch.</p><p>Read more on the <a href=”https://www.financemagnates.com/cryptocurrency/news/steve-wozniaks-cryptocurrency-wozx-reaches-950-million-in-13-minutes/” target=”_blank” rel=”noopener”>Efforce WOZX launch here</a>.</p><h2>Why Is the Price of Bitcoin Falling &amp; When Will It Stop?</h2><p>In a popular Bitcoin analysis, we posed the questions on every bitcoin fan’s minds:&nbsp;Why Is the Price of Bitcoin Falling &amp; When Will It Stop?</p><p>With expert insights from&nbsp;Ilia Maksimenka, Chief Executive and Founder of PlasmaPay and Steve Ehrlich, Chief Executive Officer and Co-founder of crypto trading platform, Voyager, <em>Finance Magnates</em> dissected Bitcoin’s decline and made a prediction for its future.</p><p>Read more on the <a href=”https://www.financemagnates.com/cryptocurrency/news/why-is-the-price-of-bitcoin-falling-when-will-it-stop/” target=”_blank” rel=”noopener”>Bitcoin Price decline here.</a></p></div><div id=”article__banner–desktop”><div id=”inside_article_MPU” class> </div></div><p><strong><a href=”https://blockads.fivefilters.org”></a></strong> <a href=”https://blockads.fivefilters.org/acceptable.html”>(Why?)</a></p> Sun, 13 Dec 2020 18:35:11 +0000 financemagnates.com
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https://www.financemagnates.com/forex/analysis/france-crypto-crackdown-major-trading-outage-bitcoin-wozx-editors-pick/


https://cryptocontrol.io/r/rss/article/5fd66402acf3c0001982261f
5fd66402acf3c0001982261f
<div><img src=”https://s3.cointelegraph.com/uploads/2020-12/5ea2cc6f-8ab5-47ae-a225-44c5d3061736.jpg” class=”ff-og-image-inserted”></div><p>Following a Citi report downgrading business intelligence firm Microstrategy’s stock to a “sell” rating, analysts for popular trading website the Motley Fool have recommended a lesser-known bank stock that also has an emphasis on cryptocurrencies.&nbsp;</p><p>Last Tuesday, <a href=”https://cointelegraph.com/news/citi-downgrades-microstrategy-stock-after-bold-bitcoin-bet” data-amp=”https://cointelegraph-com.cdn.ampproject.org/c/s/cointelegraph.com/news/citi-downgrades-microstrategy-stock-after-bold-bitcoin-bet/amp”>Citi analyst Tyler Radke downgraded Microstrategy</a> (NASDAQ:MSTR) shortly after the firm announced a debt purchase that would <a href=”https://cointelegraph.com/news/microstrategy-completes-650-million-bond-sale-to-finance-next-bitcoin-purchase” data-amp=”https://cointelegraph-com.cdn.ampproject.org/c/s/cointelegraph.com/news/microstrategy-completes-650-million-bond-sale-to-finance-next-bitcoin-purchase/amp”>bring its Bitcoin holdings up to a nearly $1 billion mark</a>. </p><p>The report chided the company, which at points has seen share prices more than triple from $92 yearly lows, for its “disproportionate” focus on bolstering its BTC holdings, and said that the current run is “overextended.” </p><p>However, in a recap article today analysts for the Motley Fool suggested the little-known, crypto-focused smallcap Silvergate Capital (NYSE: SI) might be worth a look for traders aiming to capitalize on the next crypto play. </p><p>Silvergate — the La Jolla, California-based bank with over $2 billion in assets under management — boasts an impressive list of cryptocurrency firms as clients, including Coinbase, Paxos, Circle, Gemini, and Polychain Capital. </p><p>Motley Fool contributors Matt Frankel and Justin Moser noted the banks 21-year streak of profitability, $50 million in BTC on the books, and a lending book featuring primarily commercial mortgages. Both analysts also recommended the bank as a superior investment to spot BTC. </p><p>A previous Motley Fool <a href=”https://www.fool.com/investing/2020/12/10/crypto-bank-stock-up-200-bitcoin-silvergate/” target=”_blank” rel=”noopener nofollow” data-amp=”https://www-fool-com.cdn.ampproject.org/c/s/www.fool.com/amp/investing/2020/12/10/crypto-bank-stock-up-200-bitcoin-silvergate/”>article</a> earlier in the week also called attention to the crypto exchange infrastructure Silvergate has built for its clients, the Silvergate Exchange Network (SEN). SEN operates as a 24-hour intermediary between exchanges and their institutional clients buying and selling cryptocurrencies, as opposed to normal banks which would be limited by normal working hours. SEN has reportedly cleared over $100 billion in volume since inception. </p><p>SI currently sits at a 36.69 price-to-earnings ratio, offers a 10.36% dividend, and is up nearly 100% on the year. </p><p>Silvergate and Microstrategy aren’t the only publicly-traded blockchain stocks enjoying a surge in investor interest. Mining giant Riot Blockchain is also <a href=”https://cointelegraph.com/news/with-share-price-outpacing-bitcoin-riot-blockchain-appoints-new-director” data-amp=”https://cointelegraph-com.cdn.ampproject.org/c/s/cointelegraph.com/news/with-share-price-outpacing-bitcoin-riot-blockchain-appoints-new-director/amp”>on a tear after appointing new members to its board</a>. </p><p><strong><a href=”https://blockads.fivefilters.org”></a></strong> <a href=”https://blockads.fivefilters.org/acceptable.html”>(Why?)</a></p> Sun, 13 Dec 2020 18:02:00 +0000 cointelegraph.com
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https://cointelegraph.com/news/after-microstrategy-downgrade-analysts-recommend-smallcap-crypto-centric-bank


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