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What’s the Difference Between Crypto Trading and Casino?

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A lot of people still have some prejudges against cryptocurrencies. They believe that cryptos are the roots of financial evil. However, step by step this myth is being broken.

Good things are happening all over the wonderful world of crypto. A lot of great progress has been made lately. But even now there’s still skepticism left about all things to do with crypto (especially with the older generation). Bitcoin=MLM=Casino=PonziCoin. Right?

Like all revolutionary inventions, Bitcoin has seen its share of untrustworthiness. However, now things are getting better as there is an undeniable proof of BTC worth (global companies adopting it, the price so far exceeding the dollar’s there’s no comparison). Still, crypto is often mixed with crimes and cons. Some people say that cryptocurrencies can be used to buy forbidden goods and start cons – but so can the dollar. Bitcoin in itself is an extremely powerful weapon that can be used for any purpose, just like any other type of money. Next time someone tells you crypto is used to buy drugs you can tell them that Bitcoin is still in its early adoption stages, which means that much more drugs are bought with US dollars.

Unfortunately, crypto is often associated with all the forbidden fruits the society has to offer. It’s common knowledge, the seedy underbelly of the Darknets can be revealed, if only you whisper in the night: “Ethe..” – and suddenly hacker ninjas are reaching for your wallet out of the screen as the Matrix phlegmatically consumes you and everything you’ve ever known. Falling under the textures, you’re destined to forever flap around in nothingness, alone, isolated, and terrified of the mounding white unknown. You might as well have invited Pennywise in or dip your head in a nacho sauce and go swimming with piranhas. Rumbling, blurry Darknets will devour what’s left. Slowly. Relentlessly. With pleasure.

That may very well be what the banks will have you believe, but actually, the percentage of people who commit crimes using Bitcoin is the same as the percentage who uses standard currency to do so. By the way, cash is actually untraceable while Bitcoin is weakly pseudonymous and can be tracked, which is really unattractive as far as criminals are concerned.

For 10 years already people are starting to grudgingly admit that perhaps crypto is the next step in the evolution of money. But there is still doubt. At first, they refused to accept it at all. Then they called it evil. Now instead of openly calling crypto sinister they’re saying it’s a frivolous pursuit. Capitulation is nearing.

One argument you hear often is that crypto is a lot like a casino. As someone quite knowledgeable in the ways of the world once said, the only way to win in a casino is to invest in it as a property. Which is completely true. And it’s understandable why people think crypto is a lot like gambling. Bitcoin goes up, it comes down…You may wake up one day and find out your savings are gone.

Let’s examine a bunch of reasons why crypto is not like gambling using the example of Nominex’s tournaments. Why do you care about tournaments? Using these, you can get a heap of massive bonuses, have fun testing your might, win real money and take it home, benefit from perks that run in parallel like the referral program, become a trading pro by constantly exposing yourself to the actual predators out there, and invite your friends. It’s basically like playing Tom Clancy’s Ghost Recon with friends – but with serious prize money. But more than anything these tournaments are our best work yet so we want to show it off.

It’s this simple:

  • Come
  • Click “join the tournament” at Nominex.io and do business as usual (intelligent choices, patience)
  • Trades 500+ USDT per day
  • Withdraw profit or use it to get 8 types of new bonuses.

Here are some reasons why trading tournaments are the best.

Trading Tournaments are Actually Fun

You’re going to just roll willy-nillily and hope for the best? Destiny has been shaping your ancestors’ way for eons through blistering desserts, freezing snowstorms, merciless predators, vicious catastrophes, unreal tournaments, and all manner of hidden but deadly surprises. Nature has to offer over millions of years for them all to overcome all that – so you can just put some chips on red and sheepishly look at how Fate has its way with you? That’s your idea of having fun?

Now, consider trading. It takes a lot of serious brains to trade. Everyone will also tell you it’s extremely stressful. You need to be all you can be. It is important to stay in control for hours (if you’re day-trading). You need to be on top of it all, enduring immense pressure, relying only on yourself to steer the reins of your destiny past Scylla and Charybdis of leverage trading and fake-outs.

What is trading if not the ultimate test of courage, determination, and cold-blooded character? Wall Street is an adventure with a capital A.

No Rollover

In casinos, you get Welcome Bonuses but to get them out you have to wager tons of your own money. If you’re into casinos, you know how that works, so there is no need to explain. If you are not good enough, just don’t go there.

In crypto, you can get your prizes and earnings and get them out and be gone with them. Moreover, if Tim Draper is right, the $5000 bonus you win today will be worth $10 0000 in a couple of year’s time.

There Is No Barrier to Entry

There’s none of that “deposit $100 and get $300 to play with”. Nominex tournaments allow anybody to register within seconds and to start fighting for your right to be free.

All you need is to be a good trader. The money you can use however you like. Talk about standing at the helm of your Destiny! But this isn’t just about receiving your greatness with birth, like Superman. This is about rising from zero to hero. Painstakingly building everything you’re after and giving all you’ve got. Through intelligence, ferocity, and heck of a lot of great technology.

You Don’t Get Taken For a Ride

The casino scene is ripe with cases of people getting lied to by the system with no payouts happening or withdrawals taking weeks. This is why new blockchain casinos are supposed to be the messiah everyone is looking for. If you want to actually find out why casinos are seedy, you may read about it here.

In trading, everything is designed not to lure you in (from no clocks on the walls to labyrinths of gambling machines) but to create maximum transparency. All payments are completed on blockchain.

You also lose nothing by going to Nominex, registering for tournaments, and winning.

  • 1 place: 100 USDT + 300 NMX
  • 2 place: 60 USDT + 200 NMX
  • 3 place: 40 USDT + 150 NMX
  • 4 place: 30 USDT + 100 NMX
  • 5 place: 20 USDT + 50 NMX
  • 6-15 places: 10 USDT + 30 NMX
  • 16-25 places: 5 USDT + 20 NMX
  • 26-30 places: 3 USDT + 10 NMX

And remember, what you win or earn now will extremely likely be worth 20 times more in a coming couple of years according to someone who, buying 30 000 of those flashy little tokens at $649.39 each, made quite an ROI on Bitcoin.

Nominex offers the same instruments that made Tim Draper a billionaire: sophisticated tools, minimized risk, maximized rewards, experience, privacy, respect, security, and maximum transparency. Now, winning in that tournament – that takes a real hero. Your ancestors would be proud of you.

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Having deep expertise in intercultural communications, Natallia is fond of foreign languages and cultures. She strongly believes that people should continually develop to stay on track, that’s why she permanently widens her knowledge in various spheres. Currently, Natallia is fully immersed in crypto, blockchain and financial techs.



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Polychain Monsters Launches on Polygon for Better User Experience

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As part of the launch, the team has also designed a special background for Polymonsters that are discovered through Polygon-powered booster packs.

Blockchain games continue to be some of the most exciting developments in the space. They’re both promising use cases for the nascent technology and also where its functionality is most put to the test. The issues of interoperability and scalability are always at the forefront of any game development team and nowhere is this more evident than in Polychain Monsters’ recent partnerships and rebranding.

Polychain Monsters are digital collectibles that can be integrated into any blockchain-compatible product including other games and art. Every collectible represents a unique Polymon with a certain level of rarity and value. More so, these unique NFTs can be unpacked with the game’s native $PMON tokens which are compatible with the popular ERC20 and BEP20 standards.

The project formerly known as Polkamon changed its name to Polychain Monsters due to its focus on becoming a cross-chain and multi-chain game. As part of its efforts towards this goal, the game recently expanded to popular blockchain networks such as Binance Smart Chain and Elrond. The team has stated its belief that “the future of crypto blockchains will not be winner-takes-all and multiple solutions will co-exist based on their various strengths and weaknesses.”

More recently, however, these integrations with other protocols also became a means to ensure the growth of the project’s technical infrastructure. Polychain Monsters just announced a new step in its ongoing partnership with the most sought-after Ethereum scalability solution Polygon. The game will be launched on the protocol during Q3 2021 in order to introduce faster transactions and lower costs to its features, including Booster Opening, Staking, and OpenSea Trading. A development it expects will attract thousands of new users who will be drawn to a superior user experience.

Lennart Brandt, CMO at Polychain Monsters, shared his outlook on the upcoming launch. “Integrating Polygon brings us closer to our goal of making Polychain Monsters easily accessible and inexpensive to use, ensuring that our growing community will not be priced out of the Polyverse once Ethereum gas fees are on the rise again,” said he.

As part of the launch, the team has also designed a special background for Polymonsters that are discovered through Polygon-powered booster packs. Likewise, the introduction of an all-new iconic Polymon is expected.

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Having obtained a diploma in Intercultural Communication, Julia continued her studies taking a Master’s degree in Economics and Management. Becoming captured by innovative technologies, Julia turned passionate about exploring emerging techs believing in their ability to transform all spheres of our life.



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Bitfarms (BITF) Stock Plunges Over 8% Following Nasdaq Debut

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Bitfarms stated that it powers an estimated 1% of the global Bitcoin network, with over 99% “green” hydropower.

Bitfarms Ltd (NASDAQ: BITF), a sustainable-energy Bitcoin miner, saw its stock decline 8.6% to as low as $3.9 on Monday – its first day of trading on the NASDAQ. Notably, BITF stock closed yesterday trading at $3.96, a 7% drop from its opening price of $4.27. The drop was likely due to a huge crypto sell-off motivated by the recent Chinese crypto crackdown.

Notably, figures provided by Coin98 Analytics show the total BTC in circulating supply is 89.2%, while the supply in all crypto exchanges is approximately 7.4%.

Chinese authorities ordered bitcoin miners to “clean up and terminate” all operations, including shutting down 26 mining firms in Sichuan province by Sunday. Illegalizing Bitcoin mining and transacting caused the Bitcoin hash rate to drop to a six-month low.

The happenings, however, worked in favor of the Canadian company as it explained:

“As the hash rate of Chinese miners falls, Bitfarms has earned higher transaction fees and increased its share of the total Bitcoin network hashrate. As a result, Bitfarms has been earning more Bitcoin for the same amount of computational power and operational cost.”

Notably, the company stated that it powers an estimated 1% of the global Bitcoin network, with over 99% “green” hydropower. The company estimates that compared to other crypto mining companies, it has mined the most BTC using renewable energy sources. On June 10, the company added 1,000+ mined BTC to their YTD treasury, further raising its share of the total bitcoin network hash rate.

Bitfarms Stock Performance

Bitfarms stock has plummeted in its 5-day, 1-month, and 3-month record, losing 4.81%, 11.21%, and 26.12% in that order. The prices of shares have also stagnated in the range of $3.9 – $4.11. However, the stock has gained 108.42% YTD and 1,100.73% year-on-year.

The recent stock plunge also impacted other similar companies including Riot Blockchain Inc (NASDAQ: RIOT) and Marathon Digital Holdings Inc (NASDAQ: MARA). The two closed at price drops of 1.90% and 3.77% respectively.

Moreover, Bitcoin and Ethereum have also declined in prices, trading at $32,764 and $1,947 respectively, at writing time. This represents a 19.5% and 24.7% 7-day decline sequentially, going by data from CoinGecko.

Initially, Bitfarms was enlisted on the Toronto Stock Exchange (TSX) Venture Exchange in 2019. To ease stock trading in areas outside Canada, the company sought a NASDAQ listing, which was approved last month. Nevertheless, the crypto miner has stated that its stock will continue to trade on the TSX Venture Exchange under the same ticker symbol “BITF”.

Listing on the NASDAQ made Bitfarms “the largest publicly traded bitcoin miner in North America using greater than 99% hydroelectricity renewable electricity,” according to its CEO and founder, Emiliano Grodzki.

In today’s pre-market session, shares were exchanging hands at $3.72, down 6.06% from its closing position, as per data from Seeking Alpha.

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A financial analyst who sees positive income in both directions of the market (bulls & bears). Bitcoin is my crypto safe haven, free from government conspiracies.
Mythology is my mystery!
“You cannot enslave a mind that knows itself. That values itself. That understands itself.”



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Mollie Now Third-biggest Fintech in Europe

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Mollie is acting in contrast to its American rivals by focusing on small businesses in Europe.

Mollie, a payment processor, based in Amsterdam, has become a new fintech “unicorn.” As of September last year, the little-known online payment processor is now worth over $1 billion, just over a decade after its launch in 2004 by Dutch entrepreneur, Adrian Mol.

On Tuesday Mollie revealed that it raised $800 million during a financing round, increasing the company’s worth to over $6.5 billion and earning it a place as the third-largest fintech unicorn in Europe after competitor, Checkout.com.

Mollie founder stated in a report that the company was initially a text messaging business. Before integrating the payment system, “the company originally got its start as a text messaging business, but soon pivoted to payments after trying to integrate its system for clients to pay their invoices.”

Shane Happach, who is the new CEO of Mollie, while commenting on the company’s funding, noted that for years it stuck to growing organically before extending it to external financing in 2019 and 2020, $100 million in a round led by growth-stage tech investor, TCV.

According to a report, its latest funding round, “Series C was led by Blackstone’s growth equity investing unit. EQT, General Atlantic, HMI Capital, and Alkeon Capital also invested.” The funding aims to expand internationally, both within Europe in countries like the U.K., and other regions like Asia and Latin America.

There has been growing competition among fintech giants in recent years, such as Stripe, Square, and Adyen, each battling to have the largest share in the $2 trillion markets. 

Mollie is acting in contrast to its American rivals by focusing on small businesses in Europe. According to Mollie, “A lot of the bigger players in online payments come out of the US, like PayPal,” Happach said. “Even Visa and Mastercard are US companies. A lot of investors don’t have a bet on Europe,” added he.

As per a report by CNBC, the firm’s service “is more localized than Stripe’s and not targeted at enterprise clients, unlike Adyen and Checkout.com. Onboarding smaller merchants requires “complex” compliance checks, which some competitors don’t want to focus on.”

Last week, the French president hoped that by 2030, Europe would produce 10 companies worth 100 billion Euros. Currently, the continent’s start-ups have raised over 45.9 billion, far above the 2020 investment.

Mollie’s Shane Happach shares the same view when he says they are “trying to build a $100 billion company”. They “know that takes a long time. It’s capital-intensive.”

Paul Morrissey, Blackstone Growth’s European investing lead, in a statement, said “this investment underlines Blackstone’s confidence in Europe as a place for high growth companies to thrive.”

Read other fintech news on Coinspeaker.

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Oluwapelumi is a believer in the transformative power Bitcoin and Blockchain industry holds. He is interested in sharing knowledge and ideas. When he is not writing, he is looking to meet new people and trying out new things.



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