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Binance announces the addition of new trading pairs and Trading Bots services on its Spot market, enhancing user experience and trading options. (Read More)
Binance announces the removal of several spot trading pairs, including ARKM/TUSD and CHZ/EUR, effective August 23, 2024. (Read More)
Binance to introduce BONK/BRL and NOT/EUR trading pairs and enable Trading Bots services for select pairs starting August 16, 2024. (Read More)
Binance announces the delisting of several spot trading pairs including ADA/TUSD and AEVO/BNB, effective from August 2, 2024. (Read More)
Binance announces the launch of new trading pairs and Trading Bots services to enhance user experience on Binance Spot, effective July 3, 2024. (Read More)
Binance announces new trading pairs BNX/TRY and ETH/ARS, along with new Trading Bots services for selected pairs starting July 18, 2024. (Read More)
Binance expands trading choices with new pairs and trading bots services starting July 12, 2024, enhancing user experience. (Read More)
Binance to add new trading pairs and trading bots services to enhance user experience. (Read More)
Binance announces new trading pairs BAKE/TRY and LISTA/BRL, along with Trading Bots services, enhancing user experience from June 21, 2024. (Read More)
Binance introduces new trading pairs and Trading Bots services on its Binance Spot platform, enhancing users' trading experience with more options and automated strategies. (Read More)
Binance announces the removal of select spot trading pairs on March 8, 2024, as part of its ongoing efforts to optimize the trading market, protect users, and foster a healthy cryptocurrency ecosystem. (Read More)
Binance is set to remove a select number of trading pairs from its platform on March 15, 2024, citing low liquidity and volume as the primary reasons. (Read More)
As the stablecoin market economy witnessed a loss exceeding $3 billion within a 40-day span, several fresh stablecoin endeavors are emerging. Binance, the globe’s leading exchange by trade volume, unveiled three new trading pairs attached to a stablecoin labeled first digital usd (FDUSD) in a recent blog post. However, the exchange temporarily halted FDUSD listings [...]
The post Binance Introduces FDUSD Listing Amid Stablecoin Market Decline, Faces Initial ‘Technical’ Setback appeared first on Crypto Breaking News.
<p class="text-align-justify">Bitget, a cryptocurrency exchange now based in Seychelles, has introduced Brazilian real (BRL) trading pairs as the first batch of its new on-ramp fiat trading pairs for spot traders on its platform. </p><p class="text-align-justify">Bitget announced on Friday that the new pairs includes USDT/BRL, ETH/BRL and BTC/BRL even as “the team is looking to roll out more fiat currency trading pairs on the plaform.” </p><p class="text-align-justify">“The new solution provides users with the option of spot trading cryptocurrency direct with fiat currency, therefore, lowering the reliance on stablecoins and over-the-counter services,” Bitget said.</p><p>The new development comes a week after Bitget launched its operations in Brazil and enabled crypto purchases with Brazilian reals. The firm also integrated with the Brazilian government’s Pix payment system and announced that its users will be able to executive withdrawals in the country’s fiat currency by November 30.</p><p>In the Friday statement, Bitget noted that it launched the fiat on-ramp service in partnership with Pix. However, it added that the system runs alongside off-ramp solutions it current provides globally.</p><p>Furthermore, Bitget noted that the trading pairs will first be introduced to markets in Latin America “where the adoption rate of crypto is highest amongst the general public.” The exchange added that the region is an important market for its global expansion.</p><p>Eyes on Global Expansion</p><p>Speaking on the new development, Gracy Chen, Bitget’s Managing Director described the launch as “one of our significant milestones this year.” Last month, the firm <a href="https://www.financemagnates.com/cryptocurrency/bitget-presents-insights-social-trading-platform/">launched ‘Biget Insights,’</a> a feature that makes trading insights from verified traders on social media accessible to Bitget’s users.</p><p>“To create accessible gateways to serve the international communities, we will be working hand-in-hand with top-notch and recognized payment solution providers to be compliant in linking local economies, businesses, and marketplaces with digital assets. We hope this will bring a better experience and easier accessibility to more users, which is crucial for crypto mass adoption,” Chen explained, speaking on the trading pairs.</p><p>Earlier this month, Bitget <a href="https://www.financemagnates.com/cryptocurrency/bitget-raises-protection-fund-to-300m-after-ftx-turmoil/">increased its protection fund,</a> which was first introduced in July, to $300 million following FTX's collapse. The exchange also announced the <a href="https://www.financemagnates.com/cryptocurrency/bitget-opens-in-seychelles-wants-to-double-staff-globally/">opening a Seychelles office</a> some days ago, months after disclosing that it will <a href="https://www.financemagnates.com/cryptocurrency/bitget-to-increase-its-global-workfoce-despite-global-crypto-layoffs/">double its global workforce</a> despite contrary developments in the crypto industry.</p><p>Meanwhile, in Octobr, Bitget expanded its sports deal roster by <a href="https://www.financemagnates.com/cryptocurrency/leo-messi-becomes-bitget-crypto-exchange-ambassador/">unveiling football star Lionel Messi</a> as it brand ambassador. The crypto firm currently manages sports deal with football clubs Juventus F.C. (Italy) and Galatasaray (Turkey).</p> This article was written by Solomon Oladipupo at www.financemagnates.com.
Multiple trading pairs of the Helium Foundation’s token will soon be removed from Binance, with the exchange saying it delists assets if it no longer meets “high standards.”
KuCoin KCS/USD is one of the largest cryptocurrency exchanges that operate on a global scale and enables users the opportunity to buy, sell and trade a variety of different cryptocurrencies.
Furthermore, the platform has a reputation for offering margin, futures, and even peer-to-peer (P2P) trading.
The native cryptocurrency that provides a high level of utility within the exchange is known as KCS and was launched in 2017 as a profit-sharing token.
The EUR trading pair introduction as a catalyst for growthOn June 28, 2022, KuCoin made an official announcement on their blog that EUR trading pairs would go live.
The global cryptocurrency trading platform will offer EUR trading against BTC, ETH, and USDT as a part of its broader expansion within the European market.
These new trading pairs became available as of June 28 and aim to enable crypto users to make instant conversions between Euros and cryptocurrencies.
Through the support for these EUR FIAT trading pairs, KuCoin aims to strengthen its presence across the European market.
The goal of this is to lower barriers when it comes to buying cryptocurrencies with FIAT currencies and is a crucial step towards onboarding new traders.
This will also lead to a higher demand for the KCS cryptocurrency, which could lead to an increase in its value.
Should you buy KuCoin (KCS)?On June 28, 2022, KuCoin (KCS) had a value of $10.6.
To get a better perspective as to what this value point represents for the overall value and future of the cryptocurrency, we will be going over its all-time high point of value and its performance throughout the previous month.
When we go over the cryptocurrency’s all-time high, KuCoin (KCS) had its ATH on December 1, 2021, when the token reached a value of $28.83.
However, when we go over its performance throughout the previous month, KuCoin (KCS) had its highest point of value on May 4 at $18.41, while its lowest value was on May 12, when it was worth $9.43.
We are seeing that the cryptocurrency decreased by $8.98 or by 49%.
KuCoin (KCS) is a solid buy at the $10.6 price point, as the cryptocurrency can reach $20 by the end of July 2022.
The post KCS’s future after KuCoin launches EUR trading pairs for easier transactions in EU markets appeared first on Invezz.
The trading of SHIB against USD and EUR became available on the Luxembourg-based platform since Monday.
Bitcoin has grown from being owned by only individuals to an asset relied on by institutions to store value. Besides storing value, this asset has gained some momentum in the past few years, helping it become an in-demand asset. While Bitcoin remains quite unstable, thanks to the volatility associated with digital assets, it has captured the hearts of investors within and outside the digital asset space. Similarly, it birthed other cryptocurrencies, laying the foundation for Ethereum and other altcoins. Today, many altcoins carry interesting ideas with mind-blowing uses cases. But are Fiat competing with Bitcoin?
Indeed, Bitcoin also helped the growth of other industries within the digital space. For instance, decentralized finance (DeFi) providers have leveraged cryptocurrencies to provide unique services to users. Because crypto enthusiasts believe in financial liberty and decentralization, DeFi became necessary for the industry. In this article, we will be looking at the fiat versus Bitcoin standard.
Why Are Fiat Competing With Bitcoin?Not many people expected Bitcoin to grow as it did. While experts believed that the asset was in a bubble, believers held on to their coins with the hope of a more fantastic future. Bitcoin did not promise much; it promised that international transactions would be faster and more efficient.
This is rightly so as many users trust cryptocurrencies to deliver fast settlement, especially international transactions. It creates a way for users to bypass some bureaucracy associated with centralized institutions to a reliable and safe medium.
After Bitcoin's massive success and the interest by institutional buyers, many countries started worrying that this asset may lead to lower dependency on fiat—which is a nation's currency. Some countries also believe that criminals use Bitcoin and other cryptocurrencies to scam and launder money.
This led to agitation for transparency and the need for stated guidelines to control and manage the digital asset space. Also, many countries linked digital assets to the growth of cybercrimes, especially in terms of data theft. While the space is presently filled with protocols to meet each country's regulation, many Fiat currencies compete with Bitcoin in terms of market cap.
Below are the top 5 Fiat Currencies Competing With Bitcoin: United States Dollar (USD)The American dollar is one of the most valuable assets in the world. Additionally, it is also one of Bitcoin’s biggest competition. People from all parts of the world spend the US dollar, particularly for international transactions. Additionally, the US government hopes to create a digital dollar, which some believe might replace cryptocurrencies.
Unlike Bitcoin and other cryptocurrencies, the digital dollar will be centralized and controlled by the government. It is safe to state that the dollar is an international currency because it’s useful as a means of exchange between different countries.
Without the dollar, international transactions might be complicated. But since the dollar is widely accepted in most countries, businesses can leverage that to import and export products and services. Also, the US dollar is a currency prominently used to trade Bitcoin. Many traders need to convert their first currencies to a top dollar to get their digital assets. This is due to the acceptability of the dollar and the high volumes of crypto-related transactions in America. USD versus Bitcoin: 0.000024 BTC (as at time of writing)
However, the significant difference between the two currencies is the supply. For one, the American dollar has an unlimited supply, which may affect the value in the long term. Bitcoin, on the other hand, has a static supply. So, when the latter's supply is exhausted, experts predict that the asset would be more expensive.
Euro (EUR)This currency is widely used in Europe. Because of its wide acceptability, it’s a notable competitor against Bitcoin. Euro is not a currency for a specific country but most countries in Europe. And because of Europe's stance in the international market, it is frequently used to exchange between European countries. Presently, 19 countries out of 27 European countries have the Euro as their official currency. While not every country in the region spends Euro, there is a degree of acceptability between countries.
It is also the second-most traded currency in the exchange market. Some other countries, which are not in the region also use the currency. Similarly, millions of people globally also spend other currencies pegged to the Euro. Also, the Euro has an unlimited supply, which contrasts Bitcoin's outlook. This is one of the biggest challenges with fiat currencies. Sometimes, administrators print lots of money, affecting scarcity and value. EUR versus Bitcoin: 0.000027 (as at time of writing)
Korean Won (KRW)Won is one of the most traded currencies for Bitcoin. Koreans have embraced cryptocurrencies, despite the growing regulations surrounding asset trading. The stringent regulations have led to a noticeable decrease in crypto-related transactions in Korea. Because of these regulations, crypto trading is not as accessible as it used to be. Still, the country's regulators have emphasized that they will not ban digital asset but only regulate it.
The regulators are hoping to reduce the anonymity of digital assets by mandating KYC regulations. Also, it has an unlimited supply because the government continues to print money, unlike Bitcoin's limited supply. Despite having big denominations, the currency has gained stability, making it one of the most used fiat currencies for foreign exchange. WON versus Bitcoin: 0.00000001909 BTC
British PoundsPounds are the official currency of the United Kingdom and other regions around the UK. This currency is also called pound sterling; it's safe to state that other nations use pounds, not the UK's pound sterling. Because of the high acceptability of pounds, it is used in different places as an exchange means. Additionally, the pound sterling is one of the most traded currencies in the foreign exchange, behind other known names.
Besides the UK, other British territories also use this currency. With that in mind, the pound is a worthy competitor against Bitcoin. While Bitcoin is continually gaining value because of its limited supply, pounds remains dominant because it's the first currency. It's safe to state that pounds have an unlimited supply, determined by governmental printing. Many institutions are looking to buy Bitcoin and other cryptocurrencies due to the increased money printing. Because money is supposed to be a scarce commodity, printing reduces its value in the long term. Pounds versus Bitcoin: 0.000032 BTC (as at time of writing).
Japanese (JYN)The Japanese yen is one of the most traded currencies for Bitcoin and in foreign exchange. While this currency has faced a turbulent past, particularly after world war II, it has regained stability. And because the country prioritizes exports, it has been able to stabilize the currency to a large degree.
Also, the yen has an unlimited supply due to governmental policies and decisions. Oftentimes, this leads to devaluation and price falls. However, this is where Bitcoin has been able to improve on. With Bitcoin’s limited supply, the value of a unit skyrocket with growing demand. JPY versus Bitcoin: 0.00000020(as at time of writing).
ConclusionBitcoin has numerous currencies competing against it in terms of acceptability and value. However, something common amongst the fiat currencies is that they have an unlimited supply, resulting from centralized control of a nation's reserve.
digital euro© Cryptoticker
The post Top 5 Fiat Currencies That Compete With Bitcoin appeared first on CryptoTicker.
Cross-chain DeFi protocol Sienna Network has enabled Bitcoin (BTC) and Monero (XMR) trading pairs on its decentralized exchange, giving users the ability to transact privately in two of the world’s most recognizable cryptocurrencies. Effective immediately, users of the privacy-focused SiennaSwap DEX will have the ability to trade BTC and XMR against the protocol’s native Sienna […]
Bitcoin reached a high of $28,422 per unit on Sunday at around 3 p.m. Eastern Time as the leading cryptocurrency has continued to rise during the last week. Since last Sunday, bitcoin has increased in value by 37.9% against the U.S. dollar, and the cryptocurrency’s overall market capitalization has swelled to $546 billion. Global Cryptocurrency [...]
The post Bitcoin Surges by More Than 37% Against US Dollar This Week, Taps $28K on Sunday appeared first on Crypto Breaking News.
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