Category: Cryptocurrency News

submitted by /u/CrucialSir [link] [comments]

submitted by /u/22IB [link] [comments]

It’s a new dawn. Credit card giant Visa is now in the cryptocurrency business. They won’t be buying and selling yet, though. Its new division will focus on advising everyone. From retail customers to financial institutions, even central banks can get information from Visa’s crypto experts. A lot of people still value the input traditional institutions can give, even if they don’t have the track record. So this seems to be good news for the crypto industry as a whole. Related Reading | As Amazon Takes on Visa, Does Cryptocurrency Offer the Real Alternative? Reuters informs: “Visa’s services include educating institutions about cryptocurrencies, allowing clients to use the payment processor’s network for digital offerings, and helping manage backend operations.” And Visa promises: “Tap crypto’s potential with a pioneer in global payments. For crypto to realize its full potential, we are connecting crypto and blockchain networks to our trusted, global payment network. And we’re propelling innovation to deliver even more access and value to the crypto ecosystem.” Visa’s CFO Still Doesn’t Understand Bitcoin In a bizarre move, considering they’re offering expert advice in cryptocurrencies, Visa’s CFO said the darndest thing. Vasant Prabhu told Reuters: “If the price is going to fluctuate from $60,000 to $50,000 in a few hours, it’s a very difficult thing for a merchant to accept (bitcoin) as a currency. I don’t know if cryptocurrencies like bitcoin will ever be a medium of exchange. Stablecoins will.” Bitcoin is already a medium of exchange. It’s legal tender in an entire country. It’s a process, but merchants will quickly learn the benefits of holding a deflationary currency instead of an inflationary one. If Prabhu doesn’t understand this, how does he expect his clients to take his advice seriously?  BTC price chart for 12/09/2021 on Gemini | Source: BTC/USD on TradingView.com What Did Visa’s Crypto Research Department Found Out? As an introduction to the company’s crypto research department, the company says, “For financial institutions eager to attract or retain customers with a crypto offering, retailers looking to delve into NFTs, or central banks exploring digital currencies, understanding the crypto ecosystem is a vital first step.” As the first show of power, they produced “The Crypto Phenomenon: Consumer Attitudes & Usage.” A report that, among other things, found out the following: “Almost universal awareness of cryptocurrency at 94% globally among adults with discretion over their household finances.” “Nearly one in three crypto-aware consumers already own or use cryptocurrency, with the majority saying that their use has increased in the past year (62% Owners), and two-thirds expecting that they will increase the share of their investable assets invested in crypto in the next 12 months (66% Owners).” “In Emerging Markets, ownership (37%) and curiosity about (27%) cryptocurrency is even more pronounced.” “The biggest drivers of owning and using cryptocurrency are to take part in the “financial way of the future” (42% Owners) and to build wealth (41% Owners)” “Most crypto owners would be interested in buying cryptocurrency from their bank (85% Owners)” “More than a third of current owners indicate that they plan to switch to a bank that offers crypto products within the next 12 months (39% Owners).” “The significant majority of consumers who use cryptocurrency express interest in crypto-linked cards (83% Active Owners) and rewards (86% Active Owners).” Related Reading | Visa Is Building A Payment Channel Network On Ethereum Conclusions To Avoid Confusion Even though Visa’s study seems to be skewed to what its clients need to hear to acquire their new service, the results are interesting. It’s useful to see what the research department of a company with that kind of resources can come up with. Let’s hope they keep it coming. And let’s also hope that Visa’s CTO reads “The Bitcoin Standard,” because that quote was embarrassing. Featured Image: Visa and Bitcoin, taken from their site | Charts by TradingView

The amount of respondents who said they would be more likely to invest their money in crypto than traditional stocks increased 140% in just five months.

OpenSea’s new CFO Brian Roberts faced a firestorm of complaints from the NFT community based on what he said was “inaccurately reported” comments.

Is there any Eth only wallet (preferably hardware) available? submitted by /u/tsisiolos [link] [comments]

Bitcoin remained well bid above the $49,000 support against the US Dollar. BTC could start a fresh increase if it clears the $50,800 resistance zone. Bitcoin is showing a few positive signs above the $49,000 support zone. The price is now trading above $49,500 and the 100 hourly simple moving average. There is a key bearish trend line forming with resistance near $50,500 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could start a fresh increase if it is above the $49,000 level. Bitcoin Price Aims Fresh Increase Bitcoin price corrected below the $50,000 support level from the $52,000 resistance zone. BTC broke the $49,500 support level, but the bulls were active above the $49,000 level. The last swing high was formed near $51,955 before there was a downside correction. The price traded below the 50% Fib retracement level of the recent increase from the $47,210 swing low to $51,955 high. Bitcoin price also spiked below the $49,500 support and the 100 hourly simple moving average. However, it was stable near the $49,000 level. The 61.8% Fib retracement level of the recent increase from the $47,210 swing low to $51,955 high also acted as a support. The price is now trading above $49,500 and the 100 hourly simple moving average. An immediate resistance on the upside is near the $50,400 level. The next major resistance is near the $50,500 level. There is also a key bearish trend line forming with resistance near $50,500 on the hourly chart of the BTC/USD pair. Source: BTCUSD on TradingView.com A clear break above the $50,500 resistance zone could open the doors for more upsides. The next key resistance is near the $52,000 level, above which the price may possibly start a major increase. More Losses In BTC? If bitcoin fails to clear the $50,500 resistance zone, it could continue to move down. An immediate support on the downside is near the $50,000 level and the 100 hourly SMA. The first major support is now forming near the $49,000 level. A downside break below the $49,000 support may perhaps increase selling pressure. The next stop for the bears might be $47,200. Technical indicators: Hourly MACD – The MACD is slowly losing pace in the bearish zone. Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is currently near the 50 level. Major Support Levels – $50,000, followed by $49,000. Major Resistance Levels – $50,500, $52,000 and $53,500.

Another major cryptocurrency exchange, Bitstamp, has listed shiba inu cryptocurrency. Bitstamp users will be able to trade SHIB against the U.S. dollar and the euro. The announcement came as more trading platforms are listing shiba inu and more stores are accepting the meme crypto for payments. Bitstamp Adds Support for Shiba Inu Crypto Cryptocurrency exchange […]

Following Treasurer Josh Frydenberg’s “payments and crypto reform plan,” the RBA has published a report exploring DLT tech and wholesale CBDC issuance.