Two of Russia’s Largest Banks to Offer Crypto Trading in Six Top Coins

Two of Russia’s largest banks, Alfa Bank and Sberbank, will soon be offering clients access to cryptocurrency portfolios that will permit the trading of six popular coins on major exchanges Kraken and Bitstamp.
Crypto Trading Portfolio
Alfa Bank is…

Two of Russia’s Largest Banks to Offer Crypto Trading in Six Top Coins

Two of Russia’s largest banks, Alfa Bank and Sberbank, will soon be offering clients access to cryptocurrency portfolios that will permit the trading of six popular coins on major exchanges Kraken and Bitstamp.
Crypto Trading Portfolio
Alfa Bank is t…

Importance of blockchain interoperability: Keep an eye on AION, Polkadot, ARK, Cosmos

Blockchain technology has often been lauded as the “killer of intermediaries”, removing the need for third party financial and banking services. The increased verticalization of blockchains has led to the technology becoming applied in various industri…

Russia’s Sberbank & Alfa Bank Test Cryptocurrency Portfolios For Clients

Two of the largest banks in Russia are working in order to offer their clients cryptocurrency-related portfolios. The information has been reported by the Kommersant newspaper on Friday and includes the Bank of Russia, Sberbank, and Alfa Bank.
Both of…

Two of the largest Russian banks will offer investments in cryptocurrencies

Sberbank and Alfa-Bank, two of the largest Russian banks, are working to offer investments in cryptocurrencies due to the high demand from private clients.

As reported by the russian newspaper Kommersant, these banks plan to test several private ban…

TD Bank The Latest to Halt Cryptocurrency Purchases Using Credit Cards

Source : TD Bank The Latest to Halt Cryptocurrency Purchases Using Credit Cards Toronto-Dominion (TD) Bank is the latest financial institution to ban customers from using their credit cards to purchase cryptocurrency. As more retail investors continue to be onboarded, banks are looking to protect them from making ignorant decisions. Weighing Risk, Regulation, and Rapidity In a recent move that has become common from banks, TD Bank is effectively halting the use of credit cards to purchase cryptocurrency. Originally still permitting purchases even after the first move from banks began, TD Bank has now fallen in line with a growing policy change. At TD, we regularly evaluate our policies and security measures, in order to serve and protect our customers, as well as the bank. We recently made the decision to pause on allowing cryptocurrency purchases via credit cards to conduct a review and assessment of this evolving market. Other Canadian banks, such as Royal Bank, have still been watching from the sidelines when it comes to credit purchases, but they too might soon follow in the footsteps of TD and most major international banks. Banks are Moving to Protect Credit Lines Earlier in the month, major banks including JPMorgan Chase, Bank of America, Citigroup, and Virgin Money all effectively banned purchasing cryptocurrency on credit cards. Although plenty in the space saw this as a move by the banks to stifle investment in this alternative asset class, the underlying premise of the ban had a bit more substance than a simple block. As cryptocurrency saw historic rallies during the month of December, along with a subsequent fall beginning in January, plenty of retail investors were washed out from the markets. However, even with the media continually putting an emphasis on the volatility risk of cryptocurrency, credit cards became a quick way to invest. The action of the banks was not a move to prevent people from buying cryptocurrencies but, rather, to prevent vacuous decisions. The ban was more of a safeguard, considering most investors not being able to pay back the issued credit due to the crashing prices. A Growing Trend Set to End As the markets fell, so did the interest to buy bitcoin on a credit card. According to Google trends data, search interest for the phrase “buy bitcoin with credit card” fell nearly 80% between the end of December and now – the exact period of time during the major market decline. Although popular cryptocurrency exchanges, such as Coinbase and BitStamp, allow credit card transactions, users are finding their transactions declined upon attempting to make purchases. You can’t purchase traditional investments with a credit card, so it’s not surprising that the banks put their foot down when it came to cryptocurrency. Moving forward, banks that haven’t imposed a ban will most likely do so in the future. The days of purchasing cryptocurrency on credit are numbered. Do you think investors should be able to purchase cryptocurrency using credit cards? Do you think the banks imposing bans are …

Plus…TD Bank The Latest to Halt Cryptocurrency Purchases Using Credit Cards

TD Bank The Latest to Halt Cryptocurrency Purchases Using Credit Cards

Source : TD Bank The Latest to Halt Cryptocurrency Purchases Using Credit Cards Toronto-Dominion (TD) Bank is the latest financial institution to ban customers from using their credit cards to purchase cryptocurrency. As more retail investors continue to be onboarded, banks are looking to protect them from making ignorant decisions. Weighing Risk, Regulation, and Rapidity In a recent move that has become common from banks, TD Bank is effectively halting the use of credit cards to purchase cryptocurrency. Originally still permitting purchases even after the first move from banks began, TD Bank has now fallen in line with a growing policy change. At TD, we regularly evaluate our policies and security measures, in order to serve and protect our customers, as well as the bank. We recently made the decision to pause on allowing cryptocurrency purchases via credit cards to conduct a review and assessment of this evolving market. Other Canadian banks, such as Royal Bank, have still been watching from the sidelines when it comes to credit purchases, but they too might soon follow in the footsteps of TD and most major international banks. Banks are Moving to Protect Credit Lines Earlier in the month, major banks including JPMorgan Chase, Bank of America, Citigroup, and Virgin Money all effectively banned purchasing cryptocurrency on credit cards. Although plenty in the space saw this as a move by the banks to stifle investment in this alternative asset class, the underlying premise of the ban had a bit more substance than a simple block. As cryptocurrency saw historic rallies during the month of December, along with a subsequent fall beginning in January, plenty of retail investors were washed out from the markets. However, even with the media continually putting an emphasis on the volatility risk of cryptocurrency, credit cards became a quick way to invest. The action of the banks was not a move to prevent people from buying cryptocurrencies but, rather, to prevent vacuous decisions. The ban was more of a safeguard, considering most investors not being able to pay back the issued credit due to the crashing prices. A Growing Trend Set to End As the markets fell, so did the interest to buy bitcoin on a credit card. According to Google trends data, search interest for the phrase “buy bitcoin with credit card” fell nearly 80% between the end of December and now – the exact period of time during the major market decline. Although popular cryptocurrency exchanges, such as Coinbase and BitStamp, allow credit card transactions, users are finding their transactions declined upon attempting to make purchases. You can’t purchase traditional investments with a credit card, so it’s not surprising that the banks put their foot down when it came to cryptocurrency. Moving forward, banks that haven’t imposed a ban will most likely do so in the future. The days of purchasing cryptocurrency on credit are numbered. Do you think investors should be able to purchase cryptocurrency using credit cards? Do you think the banks imposing bans are …

Plus…TD Bank The Latest to Halt Cryptocurrency Purchases Using Credit Cards

Whale Investors Find Shelter in Republic Protocol’s Dark Pool for Cryptocurrency

Source : Whale Investors Find Shelter in Republic Protocol’s Dark Pool for Cryptocurrency Initially introduced in the 1980s, a dark pool refers to the confidential trading of large swaths of financial instruments. Items like equities, securities, and simple shares were the typical exchange medium. Fast forward to 2018, and the emergence of crypto millionaires also means the growing interest in the same non-exchange trading. Old Business, New Currency To be more precise, a dark pool provides a medium for large bag holders to buy and sell large portions of their portfolio without affecting the market price of any holding. The transactions made between agents are technically “off the books.” So how does this level of privacy work in the crypto world? Well, it’s not technically private. This is in part due to transparent characteristics of blockchain technology. As such, a transaction of 1,000 bitcoin (BTC), for instance, will still be visible to on the network’s distributed ledger. Any interested parties are still able to witness transactions made between cryptocurrencies (excluding privacy centric-coins, i.e., Monero, Zcash, AEON, etc.), but this doesn’t necessarily mean that it needs to affect the prices posted on Kraken, Bitrex, Bitstamp and other exchanges. In speaking of their newest venture, Taiyang Zhang of Republic Protocol explained to The Wall Street Journal, “If I have 1,000 bitcoin and I want to trade it for another cryptocurrency, everyone can see that, and it puts downward pressure on the price. [But we] can’t hide orders on the Bitcoin blockchain.” Following Republic’s announcement to generate a cryptocurrency dark pool, the firm accumulated 35,000 ether (ETH). Contributors were principally hedge funds interested in melding old-hand financial practices with the burgeoning digital currency sector. As evidenced by the Singapore-based firm’s recent ICO figures, there is a growing demand for dark pools. In 2015, Kraken also introduced investors to their dark pool in 2015, stating that: “The Kraken dark pool is an order book not visible to the rest of the market. Each trader only knows their own orders. Traders can anonymously place large buy or sell orders without revealing their interest to other traders. Typically, outsized orders, when seen by other traders will cause the market to move unfavorably, making it more difficult to fill the order at the desired price. This unfavorable price movement may be avoided in a dark pool.” Downside of Crypto Dark Pools From this perspective, we can already hear the celebrations from whales in the ecosystem, but what about the rest of the market? The rise of crypto millionaires, especially those still interested in trading their holdings, has now created an incentive that runs completely counter to Satoshi’s whitepaper from 2008. The response to the global collusion by traditional financial institutions seems entirely undercut by the dark pools of Kraken and Republic. But, it may not be all bad. In standard dark pool trading schemes, a single firm assigns an algorithm that anonymously connects buyers and sellers. Republic Protocol executes this task slightly differently, however. In keeping face …

Plus…Whale Investors Find Shelter in Republic Protocol’s Dark Pool for Cryptocurrency

Whale Investors Find Shelter in Republic Protocol’s Dark Pool for Cryptocurrency

Source : Whale Investors Find Shelter in Republic Protocol’s Dark Pool for Cryptocurrency Initially introduced in the 1980s, a dark pool refers to the confidential trading of large swaths of financial instruments. Items like equities, securities, and simple shares were the typical exchange medium. Fast forward to 2018, and the emergence of crypto millionaires also means the growing interest in the same non-exchange trading. Old Business, New Currency To be more precise, a dark pool provides a medium for large bag holders to buy and sell large portions of their portfolio without affecting the market price of any holding. The transactions made between agents are technically “off the books.” So how does this level of privacy work in the crypto world? Well, it’s not technically private. This is in part due to transparent characteristics of blockchain technology. As such, a transaction of 1,000 bitcoin (BTC), for instance, will still be visible to on the network’s distributed ledger. Any interested parties are still able to witness transactions made between cryptocurrencies (excluding privacy centric-coins, i.e., Monero, Zcash, AEON, etc.), but this doesn’t necessarily mean that it needs to affect the prices posted on Kraken, Bitrex, Bitstamp and other exchanges. In speaking of their newest venture, Taiyang Zhang of Republic Protocol explained to The Wall Street Journal, “If I have 1,000 bitcoin and I want to trade it for another cryptocurrency, everyone can see that, and it puts downward pressure on the price. [But we] can’t hide orders on the Bitcoin blockchain.” Following Republic’s announcement to generate a cryptocurrency dark pool, the firm accumulated 35,000 ether (ETH). Contributors were principally hedge funds interested in melding old-hand financial practices with the burgeoning digital currency sector. As evidenced by the Singapore-based firm’s recent ICO figures, there is a growing demand for dark pools. In 2015, Kraken also introduced investors to their dark pool in 2015, stating that: “The Kraken dark pool is an order book not visible to the rest of the market. Each trader only knows their own orders. Traders can anonymously place large buy or sell orders without revealing their interest to other traders. Typically, outsized orders, when seen by other traders will cause the market to move unfavorably, making it more difficult to fill the order at the desired price. This unfavorable price movement may be avoided in a dark pool.” Downside of Crypto Dark Pools From this perspective, we can already hear the celebrations from whales in the ecosystem, but what about the rest of the market? The rise of crypto millionaires, especially those still interested in trading their holdings, has now created an incentive that runs completely counter to Satoshi’s whitepaper from 2008. The response to the global collusion by traditional financial institutions seems entirely undercut by the dark pools of Kraken and Republic. But, it may not be all bad. In standard dark pool trading schemes, a single firm assigns an algorithm that anonymously connects buyers and sellers. Republic Protocol executes this task slightly differently, however. In keeping face …

Plus…Whale Investors Find Shelter in Republic Protocol’s Dark Pool for Cryptocurrency

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