Category Archives: Bitcoin

Would Bitcoin suffer if the lead maintainers were kidnapped by aliens? – Cointelegraph

It is a question that many in the crypto community must have asked themselves at least once. The news ofWladimir van der Laan taking a temporary hiatus, prompted us to explore what some might consider to be an improbable, yet highly impactful situation.

A Bitcoin Core developer that is also a maintainer of the project's GitHub account (i.e., someone who can merge code into the master branch)is a rare commodity. To put this in perspective, if a Bitcoin Core developer is a black belt, then someone like van der Laan is a third-degree black belt.

To set the record straight we interviewed the well-known sensei and master of the Blockstream dojo, Adam Back. He said that neither Laans departure, nor the disappearance of all the maintainers in the event of a potential catastrophe, would present a challenge to Bitcoin (BTC):

Back also opined that most in the crypto community do not truly understand the role of Core developers in the ecosystem and tend to overestimate their importance. In his view, the changes that Bitcoin Core developers can introduce are bound by being backward compatible and should not change the key properties of the protocol like finality, censorship resistance, or rate of inflation. He also noted that changes should preserve or improve privacy. Back believes if the developers tried to introduce ideals outside of this paradigm, they would be rejected by the ecosystem:

Back is also against any sort of on-chain governance as he believes that this would lead to the centralized lobbying groups taking control of Bitcoin, noting that this is a problem inherent to proof-of-stake protocols. We parried that with the current system, some believe that organizations like Backs Blockstream, Lightning Labs, Chaincode Labs and others that support Bitcoin Core developers, have a disproportional amount of influence in the ecosystem. Back replied that Blockstream purposefully does not take a position on Bitcoin proposals. At the same time, Core developers under the companys employ can quit Blockstream if they believe they are being pressured to do something bad for Bitcoin and the company would have to pay their salary for another year.

We asked the Hashcash inventor why, if the decision-making process within the Bitcoin ecosystem is so harmonious, do debates sometimes become so heated? It is well known that some have even lead to schisms, like in the case of the block size debate. In his view, this happened because some participants were trying to force their way to a change:

Would Bitcoin suffer if the lead maintainers were kidnapped by aliens? - Cointelegraph

New DeFi Project Xfinance(XFI) ILO Presale Will Start Today | Press release Bitcoin News – Bitcoin News

As the cryptocurrency world is experiencing rapid growth, decentralized finance (DeFi) platforms are also rising. In early 2019, there were only $275M of crypto collateral in the DeFi economy than the current $5 Billion+; this represents the massive adoption of this platform.

Xfinance announced earlier that they would cooperate with LID Protocol to launch the XFI ILO presale. The presale is going to be launched on the LID presale dApp on September 10th 9pm(UTC-7).

Liquidity Dividends Protocol (LID) advances the development of divided bearing Proof of Locked Liquidity tokens. It hence can solve the issue of Uniswap exit scamming.

After the stipulated presale, 60% of ETH will be locked in the Uniswap liquidity permanently. Within 72 hours after the presale, 15% of ETH will buyback and burn XFI tokens, preventing any form of dump, thus reducing supply and increasing the demand.


Presale links:

Presale steps:

Go to the XFI presale links, then connect the Metamask or other wallet, get your ETH ready, and then click deposit button after the presale start.

If you use mobile, you can search in mobile wallet app (such as Trustwallet, imtoken) DAPP browsers , and go to the page to connect your wallet.

More details:

Total supply: 50,000 XFI

Presale: 15,000 XFI (30%)

Presale Base price: 1 ETH = 4.8387 XFI

Hard cap/Soft cap: 3000ETH/1000ETH

Bonus: According to the presale progress

0500 ETH 10% bonus;

5001000 ETH 5% bonus;

10002000 ETH 2.5% bonus;

20003000 ETH 0% bonus

Uniswap Initial liquidity

ETH 1800

XFI 7000

Uniswap Initial Price: 1ETH =3.889 XFI

Xfinance is a DeFi platform whose goal is to build an aggregated liquidity pool, automatic market-making, leveraged trading platform, and other functional platforms.

It makes use of XFI, which is an equity token. Users can acquire the XFI token by providing liquidity to the platforms aggregate liquidity pool. Withdrawal fees in the Xfinance platform are directly used to buy back and burn XFI.



This is a press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release.

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New DeFi Project Xfinance(XFI) ILO Presale Will Start Today | Press release Bitcoin News - Bitcoin News

Working in the Cryptocurrency Industry as a Woman | Op-Ed Bitcoin News – Bitcoin News

It seems there is a lot of turmoil happening in the world, as the year 2020 keeps giving and giving. From natural disasters, a global pandemic, and race wars and riots, everyone is wondering what will happen next. However, something happened earlier this year that resonated with me personally, and I wanted to touch on this subject as I dont believe it has received enough attention and is a topic that in particular for this year, is important because of whats going on around the world, especially in the cryptocurrency space.

Its not a big surprise for people to hear or know that women in the tech sector are at times, far and few between. Depending on the space youre in, it may be hard to find other women in your office. For example, if youre a female engineer, you may be the only one or maybe there are two in your entire team that are women.

According to an article written earlier this year by CIO, women make up 47% of all employed adults in the U.S., but only hold about 25% of technology related positions. Also, women who are working in the computing sector are typically paid less than their male counterparts. On top of that, women have a higher likelihood of facing discrimination in the workplace.

Earlier this year, right when the United States was starting to get hit hard with the Corona Virus, there was news that hit crypto twitter Binance is hiring and the only requirements are beautiful young girls with big boobs. You can imagine my shock.

Being a female in a male dominated industry where its already hard to get a name for yourself, I was just sent back years by one of the biggest exchanges in the crypto space. From the different news articles that popped up on the issue, it was discovered that Binance was hiring women so they could exploit them in order to potentially get new clients and customers.

The exchange was hiring them not because they possess the knowledge and experience to do the job, but they were hiring them strictly because of how they looked.

They later recanted what happened, saying they were joking about the job requirements, however, the damage was done. Women everywhere in the crypto space felt this, especially those of us who work for exchanges. Binance being a peer in the space, set the bar really low for all us, and now we have to work our way back up, whether it was a joke or not.

Currently there are over 30 million people unemployed in the United States, primarily due to the Corona Virus pandemic. This staggering number has many people worried, including myself. If you split that right down the middle, which its probably not a straight split, but to argue the point, lets say there are somewhere around ~15 million women who are unemployed. Who do you think will be going after your job? With the bar set low, women are now facing an even bigger struggle to get employed and keep their jobs, especially in this booming space with lots of competition.

Being in the crypto space and working for another top exchange,, I have the personal experience and statistics to help paint the picture. Lets take a raw look at some numbers to give you a firsthand view into who is using these exchanges.

As you can see, the number of female users (29.8%) that come and use OKEx is far less than the male users (70.2%).

For the age demographics of people using the exchange, 38% of the users belong to the age group 25-34, and 31% of the users are 18-24, making up nearly 70% of all the users on our platform.

The top countries that represent where the majority of our users are coming from are Indonesia, Russia, India, Vietnam, China, and Ukraine.

As a woman who works in the cryptocurrency industry, I think I have a different view of the situation. Every workplace has its own gender preference at an early stage, and it will become more diverse as time goes by and the company grows.

One of the challenges that I face is the worry about being treated less with less importance compared to a male employee with my voice not being heard every time.

One of my friends asked me the other day if people at my work even want to hear a females opinion? Frankly speaking, I have not experienced this kind of issue, but it is still a concern. I do feel I work in a very healthy, organic, and fair work environment. I can speak up anytime I want to express my opinions in the office. But not all work places are like this, and as others have shown, women are not always treated equally and fairly.

Overall, in the crypto community, I feel valued. Also, most of the people that I work with are very professional. But this doesnt go without saying I have different challenges and issues to deal with being a woman and dealing with others who may not value what I have to bring to the table.

I have to say that representation of females in the technology sector still has a long way to go before women are no longer considered a minority in tech, and its a similar scenario in the blockchain and crypto sector.

At OKEx, Im glad to see other female employees, which there are plenty of. However, for web developers and engineers, its still far less below than what I would like to see, which is a general phenomenon across the whole computer science field. On my team, I am one of the rare female faces. This gender imbalance problem arises from school age challenges, all the way up to adulthood where women arent always treated the same.

My hope is that this will change as time goes on and new technologies emerge such as blockchain and crypto, which will help pave the way for women to give us an opportunity to make our mark.

This OP-ed is written by Summer Lyu.

Summer Lyu is a Global Business Manager at who accomplished her undergraduate and graduate degrees at Northeastern University in Boston. She is passionate about crypto, business communication, reading, and traveling. She is also working on increasing the awareness of womens rights and trying to bring equal opportunities for women in the workplace.

What do you think about this subject? Let us know in the comments section below.

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Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

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On-chain data signals increasing Bitcoin activity But theres a catch – Cointelegraph

According to CryptoQuant CEO Ki Young-Ju, over-the-counter (OTC) Bitcoin (BTC) deals might be occurring in a way that is similar to the pattern seen in February 2019. According to the on-chain analyst, this is historically a bullish sign but Ki Young-Ju cautious that the pattern is not absolute and should not be relied on in isolation.

Bitcoin transferred on the blockchain network hits a yearly high. Source: CryptoQuant

Ki also noted that the number of Bitcoin transfers achieved a new yearly high and that these transactions didnt come from exchanges. Based on two on-chain metrics, he explained it could be a resurgence of OTC volume. He said:

The number of BTC transferred hits the year-high, and those TXs are not from exchanges. Fund Flow Ratio of all exchanges hits the year-low. Something's happening. Possibly OTC deals. This also happened in Feb 2019, when OTC volume was skyrocketed. I think this is a strong bullish signal.

High net-worth individual buyers and miners often buy or sell Bitcoin in the OTC market. This allows BTC to exchange hands without placing significant pressure on the exchange market.

Rafael Schultze-Kraft, the CTO of Glassnode, said the increase in volume is not BTC changing hands. Instead, the analyst said that the volume is flat and it represents change BTC. He wrote:

Bitcoin on-chain volume is NOT increasing or hitting any highs. Even by applying the most basic change-adjustments uncovers that the increase in volume is just "obvious change" moving back to the sender. This is not $BTC changing hands, and not real economic throughput Just wanted to point out that this is not the case, volume is in fact flat these are just huge amounts of change BTC.

Rather than OTC deals, it could represent internal transfers or other types of internal wallet movements. In that case, it would not necessarily be a bullish trend for Bitcoin in the near term.

Change-adjusted daily transfer volume shows flat volume. Source: Glassnode

In response, Ki explained that the trends still seem like OTC deals. He referred to the spikes in transaction volume in February 2019. After the two peaks in volume, Bitcoin eventually recovered strongly from the $4,000 area. Ki added:

The point is just the non-exchange / non-miner entities are moving their funds by evoking multiple transactions, OTC tx is just one of the possibilities.

If the spikes in Bitcoin volume are OTC deals, then it is an optimistic trend that indicates the possible start of an accumulation phase.

Since miners tend to sell BTC in the OTC market, many OTC deals involve miners selling BTC and whales buying the mined BTC. Such a cycle reduces the amount of BTC that would otherwise be sold on exchanges and also decreases selling pressure.

But if the rising transaction activity does not pertain to OTC deals, then it is most likely a non-event for Bitcoin.

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On-chain data signals increasing Bitcoin activity But theres a catch - Cointelegraph

Bitcoin and cryptocurrency are no hedge for inflation – Cointelegraph

The U.S. Federal Reserve chairman, Jerome Powell, recently announced that the Fed will now shift its focus from targeting inflation to closing unemployment shortfalls. The Fed, in essence, is doubling-down on the same inflationary policies with which it experimented during the 2008 global financial crisis.

Speaking at a virtual Jackson Hole event recently, Powell said the Fed would not raise rates anytime soon. He also said that the Fed would tolerate higher inflation, departing from the historical norm of a 2% inflation target. This cheap money and higher inflation policy take quantitative easing to an entirely new level.

Related: Jerome Powell throws US dollar under a bus in Jackson Hole

A Federal Reserve study on Bank of Japan practices during its 2013 economic crisis warned that higher inflation targets could result in never-ending monetary accommodation, even when real economic activity is strong or when financial stability risks accumulate. The Bank of Japan had introduced in March 2013 quantitative and qualitative monetary easing to stimulate the Japanese economy and increase the inflation rate.

On the heels of Powells Jackson Hole speech, the dollars value fell against the euro, while gold rallied back to its 1950 highs. Meanwhile, Bitcoin (BTC) has plateaued; Ether (ETH) stabilized; and stocks have yet again rallied. The Fed wont be able to reverse the course from its new policy so easily, however.

As governments print infinite amounts of money through bailouts and quantitative easing, inflation will likely send core prices higher. Clearly, the fiat system is imperfect. The crypto media uses the threat of inflation to proclaim the benefits of cryptocurrencies. Against a backdrop of shrinking gross domestic products, economic slowdown, government bailouts and fiscal stimulus, Bitcoin and cryptocurrencies have been touted as an inflation-resistant hedge. The claim? You should buy Bitcoin because crypto serves as a hedge to the broken fiat system.

Bitcoin, however, remains a nascent technology. In times of economic uncertainty, investors still prefer to flock to gold and stocks as safe-haven assets. In the case of gold, according to Morningstar data, the S&P GSCI Gold Index gained 7.2% in the last three months of 2018, while the stock market declined nearly 14%. Even during the most recent bear market when equities dropped by 33%, the gold index declined by only 2%. The price of gold then shot up over the next few months to record levels. Gold volatility, however, can go both ways. Almost a third of fund managers polled in the August 2020 Bank of America Global Fund Manager Survey stated that they believed that gold was overvalued.

From the Fidelity president filing for a new Bitcoin fund to multi-billion-dollar Bitcoin and crypto asset manager Grayscale reporting its biggest-ever quarterly inflows of almost $1 billion, institutional demand for Bitcoin has been rising amid the COVID-19 pandemic. This institutional attention showcases the seriousness with which major players have been considering Bitcoin as an investable asset.

Institutional money, however, is only just beginning to enter the cryptocurrency ecosystem, and so the market is still relatively immature and fragmented. Crypto needs more time to grow before it is widely considered a safe-haven asset.

Investors today use Bitcoin as a store of value because they think the prices will increase in fiat terms. Be warned: This shouldnt be the sole intention of investing in the crypto market. If people are investing in this space because the financial system is collapsing, then we will see an unhealthy price increase followed by a collapse in the crypto index.

In such a scenario, investors will flock to the industry not because of crypto technology or the deflationary nature of Bitcoin but because of fear of missing out. Those who suffer from FOMO believe that since everyone else is investing, they should be too. We saw this happen during the ICO mania of 2017 when investors primarily wanted to make money and not invest in innovative technology.

Investors and crypto enthusiasts often speak of crypto in relation to fiat currency, but it was not the intention of cryptocurrencies to be correlated in such a way. The intention was to create an alternative to fiat.

Crypto enthusiasts are the new hippies of the 21st century. We are not protesting in the streets. We are building an alternative. In order to build it, we need to return to our roots and stop correlating crypto with fiat.

We dont want the crypto market to grow because the traditional monetary system failed. We want to see this market grow because investors demand choice and financial freedom.

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, readers should conduct their own research when making a decision.

The views, thoughts and opinions expressed here are the authors alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.

Luciano Nonnis is the CEO and founder of DXone. Along with Mario Urschitz he co-founded the largest German language crypto Facebook group, Alles ber Kryptowhrungen und Blockchain. They also founded Crypto-Coach, a nonprot online and offline education center, as well as a major cryptocurrency mining facility in Austria.

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TOP 5 Popular Cryptocurrencies Other than Bitcoin – Analytics Insight

When it comes to cryptocurrency, the first thing that comes to mind is Bitcoin. But besides bitcoins, there are about a thousand types of other digital money created with the help of different software development services. How do they work and how much do they cost?

The currency appeared in 2015, with funds collected by Buterin, through crowdfunding a voluntary donation of money via the Internet. By the way, donations were collected in bitcoins. The value of all Ethereum issued reaches $26 billion. At the time of this writing, one ether cost $352 per unit, which is much cheaper than Bitcoin.

Most of the new cryptocurrencies come from small changes in the Bitcoin code. Like Ethereum, for example. But in the case of Ripple, the code was written from scratch, under the order of venture funds.

Ripple was created to increase the speed and save money on banking.

Ripple technology is already being used by Bank of America, HSBC. Unlike Bitcoin and Ether, Ripple cannot be mined. This is a centralized system where all digital money already exists and belongs to one company Ripple Lab.

Litecoin was created in 2011, thanks to a former Google engineer, Charles Lee. Litecoin, like Ethereum, is a hard fork from Bitcoin. One of the few differences between Litecoin is the speed of transaction processing it is faster than Bitcoin. If in Bitcoin blocks are created every 10 minutes, then in Litecoin it happens faster every 2.5 minutes. That is why Litecoin can process more transactions than in the Bitcoin system. The amount of cryptocurrency is limited, and cannot exceed 84 million units. At the moment, you can buy one Litecoin for $49.

Bitcoin is anonymous until the owner of the wallet is found. That is, all Bitcoin transactions are already visible, but what is the point if the sender and recipient are unknown? If somehow the owner of the safest Bitcoin wallet becomes known, then it will be possible to trace all the movements of his funds on the Bitcoin account, even if he bought a cup of coffee 5 years ago.

It is impossible to track other peoples transactions in the Dash system transaction data are not published in blocks. Operators are responsible for this another difference from Bitcoin. Operators, just like miners, process information on their computers and receive funds for this.

The Nem cryptocurrency appeared at the end of 2015. Unlike most cryptocurrencies, it has its own unique code. But the most important difference is that Nem works using the POI (proof of importance) algorithm technology.

The POI algorithm used in Nem combines the concepts of these two algorithms. POI not only rewards those with a higher account balance but also takes into account how often transactions are made with other users. Each user is given a trust rating. The higher it is, the more likely you are to receive a reward.

The above is not the entire list of popular cryptocurrencies. These currencies are the most suitable for long term investments or for day trading Bitcoin. This is not financial advice you should always do your own analysis before investing.

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‘High’ Severity Bug in Bitcoin Software Revealed 2 Years After Fix – CoinDesk – Coindesk

A previously undisclosed vulnerability in the Bitcoin Core software could have allowed attackers to steal funds, delay settlements or split the largest blockchain network into conflicting versions had it not been quietly patched two years ago.

Thats according to apaperpublished Wednesday by Braydon Fuller, a protocol engineer at crypto shopping site Purse, who caught the denial-of-service vulnerabilityin June 2018, and Javed Khan, a core developer of the Handshake protocol.

The vulnerability was given a severity level of 7.8 on a scale of 1 to 10, which is deemed high (9 or above is considered critical). It was caused by remote nodes failing to clear invalid transactions from their memory, Khan told CoinDesk.

The inability to clear those transactions could lead to an aggressor flooding a victim node with stale data in what is referred to as uncontrolled resource consumption, eventually causing the node to shut down, the paper states.

Layer 2 (L2) solutions such as the Lightning Network, the experimental payment system built on top of the Bitcoin blockchain, were at risk due to the vulnerability. Bitcoin full nodes were not at risk of losing funds.

There was no mechanism to make sure that the pending details of a transaction are valid or not. In certain cases you could fill up the remote memory with invalid transactions, Khan said.

No attempt to take advantage of the hole was found in the wild, Khan and Fuller wrote. The vulnerability could not be disclosed publicly for over two years as node operators took longer than expected to update, Fuller said.

While the vulnerability was fixed, its disclosure highlights the difficulties of building a global money standard on programming languages created by humans, not to mention the high technical barriers to engaging in development of the top cryptocurrency.

The vulnerability was introduced to Bitcoin Core in November 2017. Some 50% of Bitcoin nodes at the time were exposed to the attack vector, according to the paper. Earlier versions of Bitcoin Core were not affected.

Khan said the vulnerability could have enabled an attacker to steal funds from nodes that had open channels on Lightning.

Bitcoin Core versions 0.16.0 and 0.16.1 were affected and patched by developer Matt Corallo following Fullers disclosure to the core team in July 2018. Corallo did not answer questions seeking comment by press time.

The discovery by Fuller (who has also worked as lead developer at decentralized cloud storage protocol Storj) was followed by another Bitcoin bug addressed two months later in Bitcoin Core 0.16.3. Also a vector for a denial-of-service attack, one aspect of that bug allowed miners to inflate the supply of bitcoin as they could double-spend certain values, the Bitcoin Core team wrote at the time.

The emergency patch issued in that Bitcoin Core version addressed Fullers bug as well, Khan and Fuller wrote.

A spot was reserved for the resource consumption vulnerability on the National Institute of Standards and Technologys Common Vulnerabilities and Exposures (CVE) registry as CVE-2018-17145 in 2018, but it has yet to be filled out. The registry acts as a public glossary for software bugs of note.

Bitcoin Core is the reference implementation, or standard version of the network software from which others are derived. According to the paper, the exploit was also possible on several other implementations of Bitcoin and its offshoots:

All of these implementations have been patched.

UPDATE (Sept. 10, 15:45 UTC):Since publication, this article has been updated to include a link to the paper and additional information about one of its co-authors and about the vulnerability it described.

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'High' Severity Bug in Bitcoin Software Revealed 2 Years After Fix - CoinDesk - Coindesk

Number of Bitcoin Addresses Holding at Least 1 BTC Hits New ATH – Ethereum World News

Quick take:

The month of September has been a turbulent one for Bitcoin in the crypto markets. The month started off with BTC breaking the $12k ceiling only to drop below $10k on numerous occasions before leveling off at current levels above $10,200.

However, the constant volatility of Bitcoin has not swayed investors from owning more BTC. According to the team at Glassnode, the number of Bitcoin addresses holding at least 1 BTC has grown continuously over the years. Known as wholecoiners, their numbers recently hit a new all-time high value of 823,000. The team at Glassnode shared their observation via the following tweet.

Connecting the dots, an increment of bitcoin addresses holding at least one Bitcoin is proof that investors are continually confident that BTC is a store of value. The concept of Bitcoin as a store of value, or digital gold, has been explored numerous times by crypto enthusiasts and analysts with the most recent being Tyler Winklevoss who explained why this was so.

Bitcoin is not just a scarce commodity, its the only known commodity in the universe that has a deterministic andfixedsupply. As a result, bitcoin is not subject to any of the potential positive supply shocks that gold (or any commodity for that matter) may face in the future.

Bitcoin is the first commodity in the universe where supplydoes notfollow demand. Demand for bitcoin does not, and cannot, expand its supply.

Beyond superior supply attributes, bitcoin possesses all of the other characteristics that make gold valuable and actually performsbetteron a side-by-side comparison.

The concept of owning at least one Bitcoin was also discussed in a recent episode of the Joe Rogan experience featuring Adam Curry. This episode of the famous podcast has been shared widely in the crypto-verse and can be found on youtube. The particular section of the podcast talking about owning at least one Bitcoin can be found in the following tweet.

Number of Bitcoin Addresses Holding at Least 1 BTC Hits New ATH - Ethereum World News

The adjusted on-chain volume of Bitcoin and Ethereum hit a 30-month high in August – Yahoo Finance

The total adjusted on-chain volume of Bitcoin and Ethereum reached a 30-month high during the month of August.

Source: Coin Metrics, The Block Research

Combined, the total adjusted on-chain volume for the two networks grew 38.3% month-over-month, as noted in a by-the-numbers breakdown for August produced by The Block Research.

Bitcoins total adjusted on-chain volume grew by 22.5%, from $66.1 billion in July to $80.9 billion in August, while Ethereum saw an increase of 81.7%, increasing from $24 billion in July to $43.5 billion in August.

Bitcoins on-chain volume was 1.85 times more than Ethereums on-chain volume last month, according to the report.

2020The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

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The adjusted on-chain volume of Bitcoin and Ethereum hit a 30-month high in August - Yahoo Finance

Crypto Borrowing: Here Are Seven of the Best Interest Rates on the Market | Finance – Bitcoin News

Cryptocurrency is sizing up traditional finance on its legacy turf of lending and borrowing with competitive interest rates (currently as low as 0.44% for ethereum and 4.50% per year for bitcoin) as well as less cumbersome verification procedures. Crypto holders present their virtual assets as collateral to get loans paid out in fiat or stablecoin. The option allows one to keep an immediate financial need separate from long-term crypto investment as well as evade a taxable sale of their crypto funds.

Investors are also able to lend their digital assets and pick up significantly higher passive income of as much as 12% on their deposits than generally offered by conventional institutions. Whereas bank customers may currently be recording negative interest for their money due to the Covid-19-induced global economic recession, crypto lenders put their money to work for them.

Risks in the growing market include the theoretic vulnerability of smart contracts to hackers and a lower level of regulation for the exchanges, including decentralized ones, and wallets offering the service. briefly profiled platforms that offer the best virtual assets borrowing rates. Services are ranked for BTC and ETH, according to data provided by Coinmarketcap. The ethereum space is dominated by decentralized finance (Defi) protocols while bitcoin borrowing is dominated by centralized wallets and exchanges. All featured services also allow the lending function.

Dydx offers the best borrowing rate for ether at 0.44% per annum. The decentralized exchanges interest rates fluctuate based on the supply and demand of loans and deposits of the particular crypto-asset. Dydx allows users to leverage positions up to 4x. Users can borrow directly to a wallet. The minimum starting account collateralization is 125% and must be maintained above 115% to avoid liquidation of the account.

Nuo offers a rate of 2.33%. Like Dydx, the decentralized platform allows users to margin trade cryptocurrency in addition to lending and borrowing. Rates similarly fluctuate depending on supply and demand. Users can leverage trade up to 3x and borrow up to 0.7x of the collateral amount.

Compound Finance is also a decentralized exchange. It currently offers a borrowing rate of 3.06%. Users can also deposit one crypto-asset and request for a loan of other digital tokens. Rates fluctuate based on supply and demand. The collateral factor for ETH is 75. For example, a user with assets worth $100 can borrow up to $75.

Sitting atop the BTC list for best borrowing rates with 4.50%, Celsius is a wallet that allows customers to deposit and loan virtual currencies. The centralized service fixes all interest rates for its users. Celsius incentivizes use of its CEL token with better rates for deposits. Celsius started in 2018 with a minimum loan of $10,000 which has gone down a few times to the current minimum of $1,000.

Coinloan is tied with Celsius on the top spot with a 4.50% loan. Depositors can monitor interest for their crypto, stablecoin, or fiat investments in real time and get back funds any time on demand. To get 100,000 euros ($118,000) with a loan-to-value ratio of 60, a user needs to deposit 26 BTC.

Bitrue offers an interest rate of 5.85%. The centralized exchange sets the asset-type, capacity, and yield for each deposit product. It also offers loans of crypto-assets, backed by the users deposits.

Nexo has a remarkable minimum loan of $10, at interest rates of 5.9% per year. Like most wallets and exchanges in the business, no credit checks are involved. The credit line limit is calculated according to the value of assets. Nexo fixes interest rates for its users and offers a variety of currencies including stablecoins, U.S. dollar, British pound, and euro.

What do you think of the prevailing interest rates for borrowing cryptocurrency? Let us know in the comments section below.

Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

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