It isn’t a good time for a global cryptocurrency platform, Binance and its founder Changpeng Zhao as governments of some countries continue to clampdown on the platform. After facing weeks of court trials on money laundering, unlicensed money transmitting and violations in Seattle, United States, Zhao was sentenced to four months in prison. He had … Read more
BitForex, an exchange that used to be one of the leading crypto exchanges, has gone under after allegedly disappearing with at least $57 million in customers’ funds. A few days before the Hong Kong-based exchange’s disappearance, it published on its now inaccessible site that its CEO and co-founder Jason Lou stepped down as CEO. Background On February … Read more
From outright ban to hefty fines worth billions of U.S. dollars, Binance continues to face harsh regulatory challenges around the world, making it difficult to make its services available in the affected locations. The largest cryptocurrency exchange by volume experienced a push back recently in Africa’s largest crypto market, Nigeria, and in the United States, … Read more
What is BitForex Token? The native digital asset of BitForex exchange is BitForex Token. Digital asset trading, loans, and asset management are some of the services provided by the exchange. Security warning: BitForex Exchange is no longer available. The founders’s whereabouts are unknown following their disappearance with about $60 million in users’ money. The official … Read more
What does cryptocurrency liquidity entail and why is it a fundamental factor to consider for countries planning to adopt cryptocurrencies into their financial systems? Takeaways: The Definition of Cryptocurrency Liquidity Cryptocurrency liquidity refers to the ability of a digital asset such as Bitcoin to be quickly bought or sold without causing a significant price change in the … Read more
What makes Ethereum unique as a cryptocurrency and its influence in the financial space? Could it be the future of decentralized finance? Key Takeaways: What is Ethereum? Ethereum is a decentralized, open-source blockchain, which was designed to enable the creation and execution of smart contracts and decentralized applications or dApp. Basically, Ethereum takes the concept … Read more
Decentralized Finance (DeFi) is transforming how we manage and interact with money in the areas of investment, insurance, derivatives, and other financial activities on centralized finance. Key Takeaways: What benefits will DeFi bring to the financial sector? And will it disrupt the traditional banking norms? We’ll explore several ways DeFi is revolutionizing the financial sector, its benefits, risks, … Read more
In July 14, 2010, the price of Bitcoin was just $0.04865, but by December 16, 2024, the world saw Bitcoin reach its All-Time High at $106,488.25/BTC. We migth see more people jumping in to invest in the most valuable cypto. But you have to invest with caution, that’s why we put this together for you. … Read more
If you’re unfamiliar with the term, a ‘cryptocurrency’ is a type of digital or virtual currency. It operates independently of a central bank and is secured by cryptography, making it almost impossible to counterfeit. Simply put, it involves putting your money into these digital currencies with the hope that their value will increase over time. … Read more
Intensive research carried out by environment and earth advocates says crypto mining has an environmental impact. This is due to the rate of energy that is required to mint new crypto coins. Mining is a method that is needed to validate cryptocurrency transactions. We’ll explain the process that is involved in crypto mining, how this … Read more
To buy and sell cryptocurrency, you need a tool to handle your coins, it is called a “cryptocurrency wallet”. Transactions in cryptocurrency are impossible without it. They serve as personal interfaces to the blockchain, the technology underlying cryptocurrencies. What are cryptocurrency wallets, why they’re important, how do they function, and what are the factors to consider … Read more
When Bitcoin came into being in January 2009, it was referred to as cryptocurrency, but the invention of Namecoin and Litecoin in 2011 and others that came up thereafter necessitated the need for a clear distinction between the first cryptocurrency and others that came up after Bitcoin, which are called altcoin. Today, there are almost … Read more
Not all companies can live forever, cryptocurrency exchanges are no exception. Some of them are victims of internal compromise, hacks or intentional acts by their founders. For instance, in 2021, 103 crypto exchanges shut down even though Bitcoin reached its first-ever All-Time High of $69,044.77 (November 10, 2021). Here is a list of over 400 crypto exchanges … Read more
From knowing what cryptocurrency is about to knowing the technology that powers it, this guide explores all you need to know before buying your first digital asset, including the best types of wallet and best practices to secure your wallet Key takeaways: What Is Cryptocurrency? When you hear the term ‘cryptocurrency,’ think of it as … Read more
Security breaches, regulatory issues, operational costs, and lawsuits are some of the major reasons crypto exchanges may stop operations. From February 7, 2014, to August 31, 2023, 431 cryptocurrency exchanges ceased operation due to hacks, scams, and undisclosed reasons. Some of them that went out of operation in 2023 include Bizlato, RippleFox, Tokencan, and 60 others. Takeaways: … Read more