Topic: Crypocto - page 4. (Read 1777 times)
Hello, please carefully read the minimum amounts for exchange on our platform, in some exchange direction the minimum amount is less than 5 USDT.
Why is Crypocto the best?
Rapid because you don't need to register to exchange.
Convenient because the exchange from 10 usd, for 5-30 minutes.
Edit your post, exchange from 10$ - does not correspond to reality, at least in operations with cash
Also, as i noticed, there is no options with cash
https://imgur.com/a/6cZBXtz
Why is Crypocto the best?
Rapid because you don't need to register to exchange.
Convenient because the exchange from 10 usd, for 5-30 minutes.
Edit your post, exchange from 10$ - does not correspond to reality, at least in operations with cash
Hi Opulence4!
Exchange in the Crypocto exchanger is automatic. What about verification, which direction of exchange are you interested in?
Exchange in the Crypocto exchanger is automatic. What about verification, which direction of exchange are you interested in?
I mean verification of your identity
like KYC on binance
Yes, you are absolutely right
btw the english support works well, but the russian works much faster
AUSD stablecoin crashes to $0.05 after Acala network hack
On Sunday, August 14, the first reports of a cyberattack appeared online. Acala Network reported on Twitter that their team found issues with the configuration of the Honzon protocol. As a result, a mistake was made and an unauthorized release of 1.2 billion AUSD was made. The value of the stablecoin collapsed by 95% immediately after the attack, dropping to $0.05. But soon the price stabilized. AUSD is holding the bar at $0.87 at the time of writing.
“We identified the issue as a misconfiguration of the iBTC/aUSD liquidity pool (which was previously launched), resulting in the minting of a significant amount of AUSD by mistake,” Acala Network later said.
The stolen digital assets are still stored on the wallets of the attackers. Their movement is monitored by security, as well as the team of the affected platform. The Acala Network is based on Polkadot, an open source decentralized blockchain. The creators claim that the stablecoin provides an opportunity to make money that has been locked in staking more liquid.
Acala Network has corrected the configuration issue. At the same time, the stablecoin has not yet had time to recover completely and has not reached the $1 mark. Obviously this will take some time.
On Sunday, August 14, the first reports of a cyberattack appeared online. Acala Network reported on Twitter that their team found issues with the configuration of the Honzon protocol. As a result, a mistake was made and an unauthorized release of 1.2 billion AUSD was made. The value of the stablecoin collapsed by 95% immediately after the attack, dropping to $0.05. But soon the price stabilized. AUSD is holding the bar at $0.87 at the time of writing.
“We identified the issue as a misconfiguration of the iBTC/aUSD liquidity pool (which was previously launched), resulting in the minting of a significant amount of AUSD by mistake,” Acala Network later said.
The stolen digital assets are still stored on the wallets of the attackers. Their movement is monitored by security, as well as the team of the affected platform. The Acala Network is based on Polkadot, an open source decentralized blockchain. The creators claim that the stablecoin provides an opportunity to make money that has been locked in staking more liquid.
Acala Network has corrected the configuration issue. At the same time, the stablecoin has not yet had time to recover completely and has not reached the $1 mark. Obviously this will take some time.
What awaits Ethereum after the transition to PoS?
During the Ethereum community conference in France, Vitalik Buterin spoke about what awaits his "child" after the merger (The Merge). In his speech, he said that after the transition, Ethereum would only be 55% complete.
The merger marks the beginning of a new era when the main Proof of Work (PoW) Ethereum network will merge with the Beacon Chain network and continue to operate as PoS.
What awaits Ethereum after the merger? Many people want changes and they call the developers “Cryptocurrency Columbuses”. But according to Buterin, it is too early to rest on our laurels. Ethereum has to go through a number of important stages: The Surge, The Verge, The Purge and The Splurge.
On July 30, the crypto community celebrated the anniversary of the launch of the main Ethereum network. And now it's time to see what to expect from the blockchain after the merger.
During the Ethereum community conference in France, Vitalik Buterin spoke about what awaits his "child" after the merger (The Merge). In his speech, he said that after the transition, Ethereum would only be 55% complete.
The merger marks the beginning of a new era when the main Proof of Work (PoW) Ethereum network will merge with the Beacon Chain network and continue to operate as PoS.
What awaits Ethereum after the merger? Many people want changes and they call the developers “Cryptocurrency Columbuses”. But according to Buterin, it is too early to rest on our laurels. Ethereum has to go through a number of important stages: The Surge, The Verge, The Purge and The Splurge.
On July 30, the crypto community celebrated the anniversary of the launch of the main Ethereum network. And now it's time to see what to expect from the blockchain after the merger.
Binance and MasterCard released a bank card in Argentina
Last week, on August 4, the Binance crypto exchange announced the release of a new prepaid card for the Argentine market. The Mastercard payment service acted as the company's partner in this project. With Binance Card, microtransactions in cryptocurrency will be more accessible.
The uniqueness of this project is in the fact that it allows you to instantly convert “crypto” into fiat at the point of sale. And this makes it possible to pay with a card almost anywhere. In addition, a cashback 8% of the amount of purchases. For the calculation, the user's wallet is used, which is linked to the Binance platform. Moreover, all operations are fully automated and there is no need to use the terminal.
Argentina became the first country in Latin America to decide to test the new cards. The population in the country is suffering from high inflation, and the exchange hopes that such a project will help people improve their well-being.
The program is currently in beta testing. In a week, partners plan to release more cards. It can be issued at any bank that cooperates with MasterCard.
“We believe that the Binance Card is a big step in encouraging the everyday use of cryptocurrencies and its global adoption. And now it is available to residents of Argentina” said Maximiliano Hinz.
Last week, on August 4, the Binance crypto exchange announced the release of a new prepaid card for the Argentine market. The Mastercard payment service acted as the company's partner in this project. With Binance Card, microtransactions in cryptocurrency will be more accessible.
The uniqueness of this project is in the fact that it allows you to instantly convert “crypto” into fiat at the point of sale. And this makes it possible to pay with a card almost anywhere. In addition, a cashback 8% of the amount of purchases. For the calculation, the user's wallet is used, which is linked to the Binance platform. Moreover, all operations are fully automated and there is no need to use the terminal.
Argentina became the first country in Latin America to decide to test the new cards. The population in the country is suffering from high inflation, and the exchange hopes that such a project will help people improve their well-being.
The program is currently in beta testing. In a week, partners plan to release more cards. It can be issued at any bank that cooperates with MasterCard.
“We believe that the Binance Card is a big step in encouraging the everyday use of cryptocurrencies and its global adoption. And now it is available to residents of Argentina” said Maximiliano Hinz.
In the first six months of 2022, users spent $2.7 billion on an NFT minting
The Nansen website published a report on income and expenditure in the field of NFT projects for the first six months of this year. According to the study, users spent $2.7 billion on minting tokens, and only about half of these funds “settle” in the industry.
One thing is clear – there is a lot of activity in the NFT sphere. According to the report, about a million unique wallets were used in the minting of new tokens. This suggests that the community is still interested in this topic. All expenses for the creation of new NFTs amounted to 963,227 ETH, which is about $2.7 billion. This is only for the first six months, from January 1 to June 30.
It is also noteworthy that the share of funds withdrawn from the market after the mint has decreased. If last year this figure was 52.3%, then this year it is 45.7%. At the moment, this is the capital that, after the release of the token, is transferred to third-party wallets. Approximately half of the funds "settled" in projects. This is very important for the further development of the industry. In this case, an increase in the indicator also indicates an increase in interest from users.
In total, about 29 thousand collections were created. Of these, 66% raised less than 5 ETH on sales. At the moment, there are about 140 collections, which brought the creators more than 1000 ether. In total, the top 5 best projects in this area account for 8.4% of the total mint. With such a difference in profitability, a high percentage of small collections can be noted, which are associated with an upward demand curve for these products. If the crisis "prolongs" the sphere, then the gap between leaders and outsiders will narrow. The NFT digital asset market remains very popular despite the protracted downturn in this area.
The Nansen website published a report on income and expenditure in the field of NFT projects for the first six months of this year. According to the study, users spent $2.7 billion on minting tokens, and only about half of these funds “settle” in the industry.
One thing is clear – there is a lot of activity in the NFT sphere. According to the report, about a million unique wallets were used in the minting of new tokens. This suggests that the community is still interested in this topic. All expenses for the creation of new NFTs amounted to 963,227 ETH, which is about $2.7 billion. This is only for the first six months, from January 1 to June 30.
It is also noteworthy that the share of funds withdrawn from the market after the mint has decreased. If last year this figure was 52.3%, then this year it is 45.7%. At the moment, this is the capital that, after the release of the token, is transferred to third-party wallets. Approximately half of the funds "settled" in projects. This is very important for the further development of the industry. In this case, an increase in the indicator also indicates an increase in interest from users.
In total, about 29 thousand collections were created. Of these, 66% raised less than 5 ETH on sales. At the moment, there are about 140 collections, which brought the creators more than 1000 ether. In total, the top 5 best projects in this area account for 8.4% of the total mint. With such a difference in profitability, a high percentage of small collections can be noted, which are associated with an upward demand curve for these products. If the crisis "prolongs" the sphere, then the gap between leaders and outsiders will narrow. The NFT digital asset market remains very popular despite the protracted downturn in this area.
In Germany, the regulator is considering the use of blockchain to combat cybercrimes
On July 26, the Leopold and Franz Institute published the results of a blockchain study. According to the specialists of the institution, they tried to find out whether it is possible to use this technology to fight crime in a virtual environment.
Experts have suggested that this is quite possible. The template nature of information simplifies its analysis. At the same time, collecting data only from accountable entities will already significantly improve the situation, not to mention direct control over the blockchain. With this technology, regulators will be able to detect and prevent an attack using data from open sources. This will speed up the reaction of the authorities and ultimately lead to a drop in the level of cybercrime.
However, this approach also has its drawbacks. It is highly resource intensive. In order to use the blockchain to control the virtual space and control it with the help of cryptocurrency, the help of not only BaFin, but also other regulators, in particular the BSI and the Ministry of Finance, will be required. At the same time, the integration of blockchain into the supervisory process will require the training of new specialists. This takes time.
BaFin has recently taken control of digital asset flows. Before this, the powers of the regulator extended exclusively to the banking sector. On Wednesday, July 26, the agency published a set of recommendations for IT oversight practices. Obviously, this desire is aimed at keeping up with the times.
In fact, Germany is not the only country where people have begun to think about the use of blockchain at the state level. Currently, the Brazilian authorities have initiated a similar project.
On July 26, the Leopold and Franz Institute published the results of a blockchain study. According to the specialists of the institution, they tried to find out whether it is possible to use this technology to fight crime in a virtual environment.
Experts have suggested that this is quite possible. The template nature of information simplifies its analysis. At the same time, collecting data only from accountable entities will already significantly improve the situation, not to mention direct control over the blockchain. With this technology, regulators will be able to detect and prevent an attack using data from open sources. This will speed up the reaction of the authorities and ultimately lead to a drop in the level of cybercrime.
However, this approach also has its drawbacks. It is highly resource intensive. In order to use the blockchain to control the virtual space and control it with the help of cryptocurrency, the help of not only BaFin, but also other regulators, in particular the BSI and the Ministry of Finance, will be required. At the same time, the integration of blockchain into the supervisory process will require the training of new specialists. This takes time.
BaFin has recently taken control of digital asset flows. Before this, the powers of the regulator extended exclusively to the banking sector. On Wednesday, July 26, the agency published a set of recommendations for IT oversight practices. Obviously, this desire is aimed at keeping up with the times.
In fact, Germany is not the only country where people have begun to think about the use of blockchain at the state level. Currently, the Brazilian authorities have initiated a similar project.
Hi Opulence4!
Exchange in the Crypocto exchanger is automatic. What about verification, which direction of exchange are you interested in?
Exchange in the Crypocto exchanger is automatic. What about verification, which direction of exchange are you interested in?
I mean verification of your identity
like KYC on binance
Yes, you are absolutely right
Tesla got rid of 75% of bitcoins for a billion dollars
Elon Musk and Tesla are rocking the cryptocurrency market by dumping bitcoin. The company sold two-thirds of BTC digital assets, raising $936 million. This led to a fall in the prices of Bitcoin and Ethereum.
According to the published report, the coins were sold at the end of Q2. Tesla representatives noted the negative impact of the market on the cost of bitcoin. Therefore, the management decided to get rid of most of the BTC and sell 75% of 42 thousand coins.
The cryptocurrency market did not keep itself waiting and quickly reacted to the big news. Bitcoin had overcomed the bar of $24,000 than it immediately went down after the close of trading. By evening, the price for 1 BTC dropped to 23 thousand, but after a couple of hours, the quote rose to $23.4 thousand.
Ethereum did not like this maneuver either. After it became known about the sale of bitcoin assets to Tesla, its price fell by 3%. It is clear that this news may also affect other cryptocurrencies, but some experts believe that the market will gradually recover.
Elon Musk and Tesla are rocking the cryptocurrency market by dumping bitcoin. The company sold two-thirds of BTC digital assets, raising $936 million. This led to a fall in the prices of Bitcoin and Ethereum.
According to the published report, the coins were sold at the end of Q2. Tesla representatives noted the negative impact of the market on the cost of bitcoin. Therefore, the management decided to get rid of most of the BTC and sell 75% of 42 thousand coins.
The cryptocurrency market did not keep itself waiting and quickly reacted to the big news. Bitcoin had overcomed the bar of $24,000 than it immediately went down after the close of trading. By evening, the price for 1 BTC dropped to 23 thousand, but after a couple of hours, the quote rose to $23.4 thousand.
Ethereum did not like this maneuver either. After it became known about the sale of bitcoin assets to Tesla, its price fell by 3%. It is clear that this news may also affect other cryptocurrencies, but some experts believe that the market will gradually recover.
Hi Opulence4!
Exchange in the Crypocto exchanger is automatic. What about verification, which direction of exchange are you interested in?
Exchange in the Crypocto exchanger is automatic. What about verification, which direction of exchange are you interested in?
I mean verification of your identity
like KYC on binance
Hi Opulence4!
Exchange in the Crypocto exchanger is automatic. What about verification, which direction of exchange are you interested in?
Exchange in the Crypocto exchanger is automatic. What about verification, which direction of exchange are you interested in?
I mean verification of your identity
like KYC on binance
The SEC Commission will accelerate the regulation of exchanges
The head of the US SEC, Gary Gensler said that work with crypto exchanges will be intensified to speed up registration with the agency. About that official said yesterday during the interview. Gensler instructed agency staff to step up interaction with digital asset exchanges and start regulating them in the same way as regular stock markets. In the future employees will work on options for registering some coins as a security.
“There is no reason to take any other approach for the cryptocurrency market. And it doesn’t matter that they work on a different technology” - Gensler added.
The SEC is now considering tools to help eliminate potential conflicts of interest. The Commission is concerned about situations where exchanges simultaneously operate as market makers (which means the ability to conduct transactions against their clients)
The head of the US SEC, Gary Gensler said that work with crypto exchanges will be intensified to speed up registration with the agency. About that official said yesterday during the interview. Gensler instructed agency staff to step up interaction with digital asset exchanges and start regulating them in the same way as regular stock markets. In the future employees will work on options for registering some coins as a security.
“There is no reason to take any other approach for the cryptocurrency market. And it doesn’t matter that they work on a different technology” - Gensler added.
The SEC is now considering tools to help eliminate potential conflicts of interest. The Commission is concerned about situations where exchanges simultaneously operate as market makers (which means the ability to conduct transactions against their clients)
Dogecoin released an update and reduced the minimum commission
Elon Musk's favorite meme-currency has released the Dogecoin Core 1.14.6 update. According to the creators, this will improve the security and efficiency of the blockchain.
And here are the details we find on Github:
1.The configuration of the wallet backup directory is changed
2.The number of entries in addnode is limited to 800
3.In case of overload, improves network memory management
4.For wallet-app users saving disk space
Dogecoin has significantly changed the fee mechanism: they now recommend a minimum fee of 0.01 DOGE (was 1 DOGE). Dogecoin fan Elon Musk has already retweeted the news. Musk said that the company did not sell a single DOGE token (they are also on the company's balance sheet).
Dogecoin won another small victory - it processed more than 80 thousand transactions in a day.
Dog coins are very popular with Binance whales - this is where most of the purchases were made.
Elon Musk's favorite meme-currency has released the Dogecoin Core 1.14.6 update. According to the creators, this will improve the security and efficiency of the blockchain.
And here are the details we find on Github:
1.The configuration of the wallet backup directory is changed
2.The number of entries in addnode is limited to 800
3.In case of overload, improves network memory management
4.For wallet-app users saving disk space
Dogecoin has significantly changed the fee mechanism: they now recommend a minimum fee of 0.01 DOGE (was 1 DOGE). Dogecoin fan Elon Musk has already retweeted the news. Musk said that the company did not sell a single DOGE token (they are also on the company's balance sheet).
Dogecoin won another small victory - it processed more than 80 thousand transactions in a day.
Dog coins are very popular with Binance whales - this is where most of the purchases were made.
Hi Opulence4!
Exchange in the Crypocto exchanger is automatic. What about verification, which direction of exchange are you interested in?
Exchange in the Crypocto exchanger is automatic. What about verification, which direction of exchange are you interested in?
Hi
How do you commit the exchange?
Do i need any specific verifications etc?
How do you commit the exchange?
Do i need any specific verifications etc?
UK Parliament will consider bill to Regulate Stablecoins
The UK Ministry of Finance has submitted a massive bill to Parliament called the "Financial Services and Markets Bill". This also applies to stablecoins, which the regulator wants to bring to the standards existing in the country.
As you know, the collapse of UST led to increased interest of the authorities in certain digital assets. British politicians have stated the need to create a strict regulatory framework for the circulation of stablecoins.
Later, similar initiatives were adopted in the Europe. And now the officials of the apparatus of Her Imperial Highness have moved from words to deeds. On July 20, the Ministry of Finance sent a bill to parliament for consideration, which directly concerns the digital asset market.
In this bill, stablecoins appear as a payment. This means that they must comply with UK financial services standards. Finance Minister Nadhim Zahavi announced on Tuesday, July 19, that the bill would allow the country to “safely” implement digital assets. Related to this is the fact that now it is the Treasury that will supervise this area.
The bill amends some insurance laws and provides for compensation for victims of financial fraud. At the same time, experts note that the project as a whole is close to the MiCA program adopted in the Europea.
And after this proposal is adopted, it must pass two readings in Parliament. The final decision on the document will be made by the House of Lords.
The UK Ministry of Finance has submitted a massive bill to Parliament called the "Financial Services and Markets Bill". This also applies to stablecoins, which the regulator wants to bring to the standards existing in the country.
As you know, the collapse of UST led to increased interest of the authorities in certain digital assets. British politicians have stated the need to create a strict regulatory framework for the circulation of stablecoins.
Later, similar initiatives were adopted in the Europe. And now the officials of the apparatus of Her Imperial Highness have moved from words to deeds. On July 20, the Ministry of Finance sent a bill to parliament for consideration, which directly concerns the digital asset market.
In this bill, stablecoins appear as a payment. This means that they must comply with UK financial services standards. Finance Minister Nadhim Zahavi announced on Tuesday, July 19, that the bill would allow the country to “safely” implement digital assets. Related to this is the fact that now it is the Treasury that will supervise this area.
The bill amends some insurance laws and provides for compensation for victims of financial fraud. At the same time, experts note that the project as a whole is close to the MiCA program adopted in the Europea.
And after this proposal is adopted, it must pass two readings in Parliament. The final decision on the document will be made by the House of Lords.
India's central bank stands for a total blockade of the cryptocurrencies
Indian Finance Minister Nirmala Sitharaman confirmed that the Central Bank intends to completely ban cryptocurrencies. The head of the department called on international partners to help form the regulatory framework in this area. Earlier, the deputy head of the regulator publicly stated that a complete ban on cryptocurrencies for India is “the best way out.” In addition, he compared digital assets to a "Ponzi scheme", noting the speculative and illegal nature of trading.
The head of the Ministry of Finance commented on the situation:
“The Reserve Bank of India has expressed concern about the destabilizing impact of cryptocurrencies on the financial and fiscal stability of the country. In this regard, the regulator made recommendations to the government to develop a regulatory framework in this sector. The Central Bank stands for a total blockade”
This is only possible if India cooperates with its international partners. In this regard, the need for such cooperation is explained by the global nature of the cryptocurrency. The head of the department for youth affairs also opposes digital assets. She said that they cannot be called a full-fledged currency:
“The value of a fiat is determined by its status and the fiscal policy of the state. At the same time, the value of cryptocurrencies is driven solely by speculative trading and the expectation of high profits”
At the meeting of parliament, members of the government asked whether the Central Bank had published circulars on limiting the turnover of digital assets. In 2018, the regulator published a ruling prohibiting any reporting entities from operating in this sector. At the same time, a scenario in which India completely bans cryptocurrencies seems very likely.
Indian Finance Minister Nirmala Sitharaman confirmed that the Central Bank intends to completely ban cryptocurrencies. The head of the department called on international partners to help form the regulatory framework in this area. Earlier, the deputy head of the regulator publicly stated that a complete ban on cryptocurrencies for India is “the best way out.” In addition, he compared digital assets to a "Ponzi scheme", noting the speculative and illegal nature of trading.
The head of the Ministry of Finance commented on the situation:
“The Reserve Bank of India has expressed concern about the destabilizing impact of cryptocurrencies on the financial and fiscal stability of the country. In this regard, the regulator made recommendations to the government to develop a regulatory framework in this sector. The Central Bank stands for a total blockade”
This is only possible if India cooperates with its international partners. In this regard, the need for such cooperation is explained by the global nature of the cryptocurrency. The head of the department for youth affairs also opposes digital assets. She said that they cannot be called a full-fledged currency:
“The value of a fiat is determined by its status and the fiscal policy of the state. At the same time, the value of cryptocurrencies is driven solely by speculative trading and the expectation of high profits”
At the meeting of parliament, members of the government asked whether the Central Bank had published circulars on limiting the turnover of digital assets. In 2018, the regulator published a ruling prohibiting any reporting entities from operating in this sector. At the same time, a scenario in which India completely bans cryptocurrencies seems very likely.
Digital euro law could be adopted in 2023
Central banks around the world are developing virtual money to keep up with the growing popularity of cryptocurrencies, which has inspired big tech to find ways to enter this market. One of the biggest pushes was caused when Meta-owned Facebook announced a few years ago that it was going to launch a virtual currency along with 25 other companies. But while political and regulatory pushback has killed the project, stronger pressure forced politicians to act.
The EU's executive branch plans to hold public consultations next month. The consultations will avoid repeating the ECB's call for a 2020 comment that highlighted the importance of payment privacy among respondents. In this case, the issue of commission will be devoted to the use of the digital euro, for example, to make everyday payments. They will receive an impact assessment to determine precautions to prevent destabilization of the financial system.
According to politicians in the Commission and across Europe, the final decision on whether a digital euro is needed will be made by the Governing Council of the ECB. Last year, Germany and France asked the European Commission to speed up the process amid fears that the eurozone could be left behind.
Central banks around the world are developing virtual money to keep up with the growing popularity of cryptocurrencies, which has inspired big tech to find ways to enter this market. One of the biggest pushes was caused when Meta-owned Facebook announced a few years ago that it was going to launch a virtual currency along with 25 other companies. But while political and regulatory pushback has killed the project, stronger pressure forced politicians to act.
The EU's executive branch plans to hold public consultations next month. The consultations will avoid repeating the ECB's call for a 2020 comment that highlighted the importance of payment privacy among respondents. In this case, the issue of commission will be devoted to the use of the digital euro, for example, to make everyday payments. They will receive an impact assessment to determine precautions to prevent destabilization of the financial system.
According to politicians in the Commission and across Europe, the final decision on whether a digital euro is needed will be made by the Governing Council of the ECB. Last year, Germany and France asked the European Commission to speed up the process amid fears that the eurozone could be left behind.
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