Crypto Exchange CoinMetro Launches New Affiliate Program

The CoinMetro crypto exchange recently unveiled a new and expanded affiliate program that aims to pay out the highest affiliate rates of any cryptocurrency exchange. In addition to collecting 40% of what their referrals generate in revenue, affiliates can also earn 10% of what traders referred by their referrals accumulate. Since CoinMetro’s revenue sharing program lasts for a lifetime, this puts the potential earnings of an affiliate far beyond what they could be for most other crypto exchange referral programs—making CoinMetro’s affiliate program one of the best crypto affiliate programs out there.

Under the new program, affiliates have a choice of participating in different income models: seasonal promos with a CPA model (set bonuses for signup/deposit), and a Revenue Share Model (receive a cut from revenue brought in from referrals). Because it offers a great deal of flexibility, this affiliate program is perfect for traders, affiliate marketers, crypto enthusiasts, and bloggers looking to monetize through their crypto content.

CoinMetro’s June affiliate bonus, in which both the affiliate and their referral received a 5€ bonus upon verification, managed to attract 7,000 new users in the first week of the month, with a significant portion of the signups directed by US traffic. Through its introduction to an expanded audience of traders, the exchange is gaining more visibility at a time when crypto is poised to enter a new bull market, making the potential for referral-based profits a highly lucrative endeavor.

CoinMetro is an innovative way to buy and sell the world’s top cryptocurrencies, designed for use by traders of any level of experience. The exchange places a heavy emphasis on the education of its traders, equipping them with the knowledge they need to best maximize their success while trading and investing. CoinMetro currently features 13 different cryptocurrencies for trading and several different fiat pairing options.

Though based in the EU, the CoinMetro crypto exchange receives a lot of US traffic and from those looking to trade relatively rare pairings, such as BTC/GBP and ETH/GBP. The affiliate program is, therefore, great for customers in the US who are looking to add some extra funds into their CoinMetro account. Some of the other coins traded on the exchange include Bitcoin Cash (BCH), Chainlink (LINK), Quant (QNT), Ripple (XRP), and the exchange’s utility token, CoinMetro Token (XCM).

A fully EU-licensed exchange, CoinMetro is owned and operated by CoinMetro OÜ, which is incorporated in Estonia under company number 14448371. The CoinMetro Platform is an exchange-based order book for various pairings of cryptocurrencies and fiat currencies, such as euros and British pounds. For more information about CoinMetro and its new affiliate program, please contact Liina Laas (email: [email protected]). Additionally, more information about the referral program can be found here.

Disclaimer: This is a paid press release from CoinMetro. BitcoinExchangeGuide does not endorse, nor are we responsible for the content included in this paid release. We encourage all of our readers to do their research before interacting with the company.

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Author: Bitcoin Exchange Guide News Team

After Shutting Down Ahead of EU’s 5AMLD, BottlePay’s Set to Relaunch New Lightning Payment App

BottlePay, a social payment app that choose to shut down its operation in December of 2019 amid regulatory concerns, is ready for a relaunch with a new Lightning Payment App. The firm has restructured its products and services to comply with Europe’s 5th anti-money laundering directive (AMLD5). The new payment app also offers an exchange wallet with social features on Reddit, Twitter, and Discord and set for a beta launch in August.

Some of the features of the new payment app include scheduled payments to buy more bitcoin, which is quite similar to Square’s Cash App. However, this feature would be first rolled out in Europe. Users would also have the option to opt for a custodial or non-custodial wallet.

Pete Cheyne, a co-founder of BottlePay, said, “Lightning works in the background, without users having to manage channels.” Adding,

“There will be a small fee for exchanging between fiat and bitcoin, and vice versa. … There will also be tiers because people are interested in our app for different use cases.”

Mark Webster, CEO of BottlePay, revealed that his team of 11 employees was funded continuously by their angel investors, who were responsible for trading equity worth $2 million in 2019. He explained that the firm has no immediate plans to support any token. Webster also revealed his plans for expanding his workforce up to 35 people by 2021.

Webster went on to reveal that most of the recent hiring has been in the legal and marketing department, which helped them in restructuring their product. He said,

“I think Lightning is at the core of the strategy. As consumer demand increases, we can open more channels. You can store a fiat balance, Scan a Lightning code, and pay that from your pound or euro balance.”

The scheduled beta launch in August will be limited to the European citizens. Still, Webster said that he hopes to expand the reach of his application in the United States and hopes to launch a Telegram integration by 2021.

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Author: Hank Klinger

CZ Reveals Binance Card Powered by Swipe Is Currently Being Beta Tested

The leading spot cryptocurrency exchange, Binance, is now working on a Binance Card that will be launched soon.

Binance CEO Changpeng Zhao took to Twitter to share that currently, he is testing the card which is in beta. With this card, the user will be able to make transactions at the likes of Amazon and Grab.

You will be paying in cryptocurrency directly from your Binance account, while merchants will be accepting the fiat.

These cards are powered by the wallet app Swipe, Binance’s latest acquisition. The exchange is also joining the company’s board of directors, but apparently, Swipe is “able to run the company independently from Binance.”

Earlier this week, Binance announced that it is acquiring the multi-asset digital wallet and debit card platform that allows users to buy, sell, convert, and spend cryptos in 31 countries within the European Economic Area.

The idea has been to work together to further mainstream adoption of cryptocurrencies by bridging the gap between fiat and digital assets.

At the time, the Philippines-headquartered Swipe, which already supports 20 cryptos, also listed BNB on its platform, and Binance listed Swipe’s token SXP on its exchange.

Binance Cards will be usable in most places globally that accept a credit card but will be released to users country by country, shared CZ.

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Author: AnTy

The Good and Bad of the Crypto Going Public

This week, big news came in the form of crypto businesses that are planning to go public either later this year or next year.

Crypto lender BlockFi is looking for a veteran financial professional (CFO) that could help the company “guide and position the finance team for late-stage investment, acquisition, and/or IPO.”

The company is looking for someone with over 15 years of experience as a corporate financial leader in public markets and financial markets. It further mentions in its job posting that the person also needs to have an IPO experience and scaling teams for SOX compliance and IPO ready.

BlockFi had a successful Q2 2020, and in the same quarter, the company hired former American express vice president, Wittney Rachlin to launch the bitcoin credit card that could come in the 4Q20.

In Q1 of this year, the company raised $30 million in a Series B funding led by Peter Thiel’s Valar Ventures along with Morgan Creek Digital, Castle Island Ventures, Arrington XRP Capital.

NYSE-backed Crypto Exchange

The other company planning to go public is crypto exchange Coinbase.

For now, the company is planning to file for an IPO with the SEC but hasn’t registered with the agency yet. It is, however, actively pursuing investment banks and law firms to assist with the process. The listing could come as early as this year or next year.

Interestingly, the NYSE is one of the exchange’s investors along with the likes of Y Combinator, Andreesen Horowitz, Union Square Ventures, and Tim Draper.

Coinbase was valued at about $8 billion during its last round of venture funding and had over 1000 employees and 35 million users in over 100 countries.

The good thing is they are not going the usual IPO route but DPO, which means they bypass institutions and banks and give retail the same access as everyone.

“The real irony is that, if they did a token sale, it would only be available to accredited investors,” commented analyst Ceteris Paribus.

An Opportune Time?

San Francisco-based Coinbase is a popular cryptocurrency exchange that has the highest amount of BTC balance, and no other exchange comes any close to it. It has been close to surpassing 1 million BTC in balance only to slide down after the March sell-off but remains above 900k BTC.

Founded in 2012, Coinbase has contributed a lot to the advancement of the crypto ecosystem. And the news of it going public that is taken as a bullish narrative by the market has come at a time when the market has been rallying amidst the COVID-19 pandemic.

The Fed is pumping in trillions of dollars, which is popping the prices of almost every other asset, from the share of bankrupt companies to the latest IPOs.

Lately, altcoins have also been surging, giving off the vibes of 2017, with many expecting it to be the start of an altcoin season. During the 2017 bull run, Coinbase boasted $1 billion in revenue.

But Coinbase also faces criticism in the bitcoin community for listing the “shitcoins” and not supporting projects that are bitcoin-related such as Lighting Network.

Not to forget, the tons of controversy that continue to surround Coinbase. Recently, it came under fire for selling its customer data to the IRS and DEA, the exact opposite of what bitcoin stands for — censorship-resistant.

So, it would be interesting to see how this IPO affects Coinbase and the market in terms of mainstream adoption and attracting new investors and institutions.

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Author: AnTy

U.S Senate Sanctions Following the Hong Kong Security Law Could Affect Crypto Brokerages

The U.S Senate sanctions that were passed in response to the Hong Kong security law might affect crypto brokerage operations.

Dubbed the ‘Hong Kong Autonomy Act,’ this senate bill aims to reprimand China for eroding the city’s autonomy, which had long favored its position as a financial hub. According to the new security law, Hong Kong’s freedom of expression has been infringed to the extent of not being allowed to criticize the Chinese Communist Party (CCP).

With the U.S acting as the leader of the free world, a counter move on this infringement was to be expected. Now that the Senate has already given the green light; the U.S government can now move to limit its foreign registered subsidiaries in Hong Kong from providing access to the dollar ecosystem. These limitations will be in situations where the other party is undermining Hong Kong’s autonomy. However, the bill did not specify what criteria would be used to arrive at such decisions, leaving this to the U.S Treasury.

The Effect on Crypto Brokerages

These moves by the U.S senate and CCP could have a significant toll on crypto brokerages operating in Hong Kong. The city has long been a link between mainland China crypto businesses and international markets, given its friendly nature towards digital assets. This link has since motivated mainland China-based crypto exchanges such as Huobi and OKCoin to set up in Hong Kong.

While their operations are majorly in Asia, access to the dollar ecosystem is fundamental for liquidity and other aspects. According to the president of Hong Kong’s Bitcoin Association, Leo Weese, a move to curtail liquidity provision would be catastrophic for the Hong Kong-based exchanges:

“The most successful cryptocurrency companies here are dependent on their access to the U.S. dollar system … They move money around, they are big brokers, and if they somewhat lose that access, they are in trouble.”

Weese’s sentiments were seconded by other stakeholders in this market, including Genesis Block’s chief trader, Charles Yang, who noted that reliance on U.S banks for dollar settlements is inevitable. Consequently, the ongoing friction puts their business at more risk.

“If there is any further friction from the U.S. policy, it could be very damaging to our business.”

Hong Kong’s Financial Dominance in Limbo

While the new security law doesn’t intend to change Hong Kong’s financial status, this could quickly change, according to Weese.

“I think for now there is no intention to mess with Hong Kong’s financial system and scare companies away, but of course things could quickly change.”

As both the CCP and U.S continue to fine-tune their stance on this development, a move to Beijing as China’s financial hub will mean more scrutiny by the government. This might, in turn, make wire transfers and other financial services expensive and slower compared to the autonomy that preceded business in Hong Kong.

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Author: Edwin Munyui

Binance & Huobi to Let Traders Short Dogecoin’s Delirious Gains, Bitfinex Jumps on Board Too

This week, the coin that ignited the altcoin rally is Dogecoin, which has jumped 130% in less than four days.

The 27th largest cryptocurrency soared to $0.0053 today, a level last seen in October 2018. Currently, DOGE is trading at $0.0045, still up 26% in the past 24 hours, but has started to turn red by 3.17% in the past hour.

DOGE, however, is still off 75% from its all-time high of $0.00182 hit in early January 2018.

These gains came after zoomers made it their mission to pump the coin with a target of $1. The zoomers went on Tik Tok, a popular video-sharing social networking application, to advertise DOGE.

The semi-viral videos on the platform pushed the young investors who use Robinhood to jump into the cryptocurrency. There have been millions, over eight million “Dogecoin” tags, and more than 300k posts about the “Dogecoin challenge” on the app.

“Let’s all get rich. Dogecoin is practically worthless. There are 800 million TikTok users. Once it hits $1, you’ll have $10,000. Tell everyone you know,” one such Tik Tok user James Galante told his followers.

These gains have put Dogecoin and, by extension, the crypto market in the limelight with the mainstream media covering this wild swing just like it happened during the 2017 crypto rally.

Making the Best of this Frenzy!

Now, cryptocurrency exchanges want more than a share of this pie. They are here to make the most of this frenzy by allowing people to be long or short this “joke currency.”

The leading spot cryptocurrency exchange Binance announced that it will launch DOGE/USDT perpetual contract with up to 50x leverage. It was only a year back that Binance listed Dogecoin, which was created in December 2013.

The trading for this contract will open tomorrow at 2020/07/10 09:00 AM (UTC). But this isn’t going well with the crypto community.

“They are launching to steal your money. Run, Doge holders run,” wrote one user.

Another exchange is Huobi that is planning to launch the Dogecoin futures, but no date is announced yet.

“Huobi Futures will only list quality cryptocurrency that has a high-level market cap to ensure user’s safety. Our community always comes first. #dogecoin,” announced Ciara Sun, Head of Global Business and Markets and Vice President at Huobi.

Meanwhile, Bitfinex is taking this opportunity to list Dogecoin as MDOGE (MegaDogecoin) with a conversion rate of 1 million, 1 MDOGE = 1000000 Dogecoin. Three trading pairs will go live: MDOGE will be traded with US Dollars (DOG/USD), Tether (DOG/UST), and bitcoin (DOG/BTC).

The deposits for the crypto will open tomorrow at 7:30 AM UTC, and trading and withdrawals at 8:30 AM UTC the same day.

With altcoins going into a rally mode, no one wants to miss the opportunity to make some profits, and for crypto exchanges no matter the price goes up or down, the user gains or losses, it will only help them rake in big fat revenue.

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Author: AnTy

Insufficient Clarity for Regulations And Taxes May Force US Investors Move On: Coinbase Tax VP

The Chief Tax Officer of Coinbase, Lawrence Zlatkin, believes that lack of clarity in the US’ crypto taxes could alienate prospective investors. He shared these sentiments during a Unitized panel held on July 7, where he joined Rob Massey and Jessica Reif-Caplan, who are also tax leaders at Deloitte and Fidelity, respectively.

According to the point of view of this panel, plenty of countries are advanced when it comes to crypto taxation, compared to the U.S. Therefore, a move to such jurisdictions will soon be a no-brainer if the Internal Revenue Service (IRS) does not match the global pace.

Most of the challenges in tax definition are a result of the complex underpinnings of crypto ecosystems. At the moment, digital assets are still in the grey zone with much ambiguity on operations, including tax issues. For instance, staking rewards that have gained popularity with the DeFi frenzy are still complex assets for a good number of crypto market stakeholders. Fidelity’s Reif-Caplan reiterated that:

“There are so many differences between various digital assets, and staking alone is such a complicated thing to understand if you are not that close to digital assets.”

A Motive for Overseas Expansion

As the IRS continues to forge clarity in reporting crypto taxes, firms like Coinbase, which already operate in the U.S, are already considering a shift to countries with more solid frameworks. Currently, U.S citizens are required to report crypto in their tax filings despite the lack of proper guidelines.

Zlatkin noted that this uncertainty would eventually cause an outflow of capital towards countries with a more mature view on the digital currencies. Coinbase has already considered expanding its footprint beyond the U.S market. Zlatkin said,

“It’s a growth model for us, just where we operate, accessing more customers, being able to trade more assets […]. Generally speaking, most customers in the space particularly would be from major jurisdictions like Canada, the U.K., the EU, and within Asia.”

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Author: Edwin Munyui

Kraken’s Crypto Facilities Becomes UK’s First FCA Approved Futures Exchange

Crypto Facilities which is also known as Kraken Futures has announced that it has received approval to start derivatives trading services mostly to institutional investors.

On Monday, the firm announced that it had received a Multilateral Trading Facility (MTF) license from UK’s financial watchdog, Financial Conduct Authority (FCA). According to the firm, the license will enable institutional investors to easily trade on the futures platform. The license means that the firm will enhance its clientele to investors that could have been barred by the UK laws from using unapproved exchanges.

In a statement shared with Bitcoin Exchange Guide, Kraken’s co-founder and CEO, Jesse Powell, explained that the firm has been pursuing the licensing as the firm is determined to ensure cryptocurrency is accessible to everyone. He stated,

“This particular license means that a sophisticated class of investors, limited by their own requirements to interface with a regulated venue such as an MTF, will now have access to crypto derivatives in Europe for the first time. More participants means more liquidity and a better experience for everyone.”

The firm also stated that the license makes Crypto Facilities the inaugural and the only approved derivatives company providing exposure to leveraged cryptos within the European Union.

Powell explained that sophisticated clients now have an opportunity to access crypto derivatives within the European Union which is a big step in the region.

Although the UK plans to exit the EU before the end of the year, the talks are not yet over and it remains unclear how regulatory issues will be handled after the exit. Majority of companies are hoping that passporting will be revoked.

The FCA had early this year warned against stern penalties on crypto derivatives platform BitMEX arguing that the company was luring UK customers even without its approval.

The Francisco-based Kraken bought out Crypto Facilities in February last year for an undisclosed amount which analysts estimated to be more than $100 million. At the moment the firm provides upto 50x leverage on various futures products such as Bitcoin, XRP, Bitcoin Cash, Ether and Litecoin.

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Author: Joseph Kibe

EOS’s Voice Goes Live; Ethereum Co-founder has ‘Regrets’ & Cardano Creator Feels Rivals Getting ‘Worried’

Today, Voice is officially live.

Salah Michael Zalatimo, CEO at Voice posted an update that starting July 4, 2020, registered community members can publish while everyone can read the posts.

The company was preparing for a “big reveal in the fall—but things changed,” wrote Zalatimo. And now they decided to open their platform and invite the community to be part of the building process on which they have been working on for months.

Beginning August 15th, everyone that is already registered will be able to invite their friends to join Voice and in fall, a variety of features will be released.

“This global moment has fully exposed the corrupt social spaces created by Big Tech. It’s time to break away and put humans first,” reads the post.

Brief Early Release

EOSIO-based social media platform Voice developed by Block.one, the company behind the cryptocurrency EOS briefly went live yesterday before its scheduled launch.

First revealed in June 2019, Voice temporarily started displaying several posts with multiple likes and comments only to flash ‘Error 1020’ later on.

Cardano creator and CEO of IOHK, Charles Hoskinson took to Twitter to share his views as to the reason behind this temporary early release.

One Cardano enthusiast echoed Hoskinson’s sentiments pointing to Ethereum co-founder Vitalik Buterin talking about handling Ether’s creation differently had he done it now. Hoskinson also co-founded Ethereum.

“Definitely a lot of regrets and wasted time,” he said on “Hashing it Out” podcast about all the time taking in sharding and proof-of-stake.

“We definitely did kind of underestimate how much time it would take to finish a lot of the things that we didn’t start back in 2015,” he said.

In the past two-days, IOHK’s Cardano has released a number of big announcements that have seen the price of ADA surge 20% and 193% YTD. These gains have the cryptocurrency climbing to the 6th spot, as per Messari.

Yesterday, it was also announced that IOHK has signed an agreement with Coinbase Custody, and from Q4 2020, users can take their ADA right from Coinbase’s cold storage. Staking rewards will be coming to Cardano in mid-August.

It won’t’ be a surprise if ADA will also be listed on the US-based cryptocurrency exchange soon.

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Author: AnTy

Ravencoin Blockchain Exploited to Mint More RVN, Total Supply Bumps Up 1.5%

A vulnerability was found in Ravencoin blockchain that was used to mint more than 5000 RVN per block, said Tron Black, lead developer of Ravencoin, a cryptocurrency and asset issuance platform, in an official post.

Since the vulnerability was brought to the Ravencoin’s attention by CryptoScope, the team has been working on a fix.

Less than 24 hours back, the emergency update was made, and blockchain users were recommended to stop the movement of RVN and any other activities.

The bug exploited did not allow the stealing of RVN that a user owns and controls as such “all asset balances are safe,” assured the announcement.

But minting created additional RVN. The extra RVN is about 1.5% of the final 21 billion, 44 extra days’ worth of mining, but the exact number isn’t known yet.

These new RVN were sold into the market shortly after the minting and now mixed with other RVN.

The team has decided not to burn them because it “causes irreparable harm to innocent victims.” And now, the burden will be shared by all the RVN holders in the form of inflation.

Another option is to shift the halving 44 days sooner, which would offset the minted RVN and put the total issuance back to 21 billion.

Exchanges are notified to determine whether they want to pause their deposits, withdrawals, or trading, and mining pools are asked to immediately upgrade to the latest binaries available. Everyone else is also advised to be on the newest Ravencoin version.

“It’s a massive negative to the integrity of the chain,” said Bitcoin advocate Bruce Fenton, CEO of Chainstone Labs and a board member at The Bitcoin Foundation.

The attack brings in questions about the security of the Ravencoin blockchain and is “darkest day for sure,” but “the community & devs & have confidence they will build it better than ever before,” said Fenton.

Bitcoin had a similar error in 2018, but it was caught and fixed before it could be exploited, he said.

Meanwhile, the price of the 65th largest cryptocurrency RVN is at $0.0184 with 0.28% gains. The digital asset has been on a decline since mid-June and is recording losses of over 19% YTD.

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Author: AnTy