Where is it Better to Exchange Coins: On the Stock Exchange or In the Exchanger? 1005

exchange coin

The vast majority of all operations with the cryptocurrency is carried out on exchanges with multi-million turnover. And what are the exchangers offering promising conditions for buying / selling the cryptocurrency? How do they differ from exchanges? We will consider it in this material.

Content:
(please, click the topic to scroll down to it)

  1. What is the exchanger?
  2. How does the online exchange of cryptocurrency work?
  3. Principal differences between the stock exchange and the exchanger
  4. Where is it better to buy/sell cryptocurrency
  5. Advantages of online exchangers
  6. What should a safe exchanger look like?
  7. Conclusion   

1. What is the exchanger?

The name gives the answer – it is the place where you can exchange the cryptocurrency for fiat or for other coins. There are two types of exchangers:

  • Online. This is a site where a visitor can make a purchase / sale of a cryptocurrency at a fixed rate.
  • Offline. Here, the currency can be exchanged for real money, having received a cache in the specified place – at the checkout or office.

Exactly the same is the work of known to all exchangers, working exclusively with fiat money.

2. How does the online exchange of cryptocurrency work?

The main condition for someone who wants to buy a coin is the presence of a cryptowallet. If any, the procedure is simple:

  1. Simple and not always compulsory registration;
  2. In the menu, find the currency you want to buy or sell;
  3. Fill in the fields with the requisites;
  4. Agree with the exchange rules and click “Exchange”.

You will be notified of the operation by e-mail notification. Cryptocurrency exchangers work in different modes:

  • Manual mode assumes that each operation is processed by an operator. It’s always long.
  • In semi-automatic mode, Bitcoin exchange can last half an hour or more, depending on the exchanger.
  • In the automatic mode, currency cranes operate with immediate withdrawal of funds.

The cryptocurrency exchanger has little to do with a stock exchange, with its adjustments, quotations, orders. But the investor is more interested in the price than the technical side of the exchange.

3. Principal differences between the stock exchange and the exchanger

At the exchange there are traders who determine the price of coins. In the exchanger, trading is inappropriate, because the course is determined by the owner of the resource. Is it good or bad?

On the one hand, there is no place for exchange speculation on the exchanger. On the other hand, there is always a real coin price on the stock exchange, which rarely coincides with the exchanger’s rate.

4. Where is it better to buy/sell cryptocurrency

If it is a matter of profit, then on the exchange with its market rate. The owner of the exchanger, of course, is guided by stock quotes, but his rate is always higher. By the way, the commission in the online cryptocurrency exchanger can differ from the stock exchange in the tens, and even hundreds of times.

In terms of convenience, the exchange also looks preferable, as it works around the clock without days off, which cannot be said about many exchangers.

An important point is the amount of currency reserves. If there are no problems for an exchange with a multimillion-dollar daily turnover  to make almost any transaction , then a poor exchanger can sometimes offer to wait an hour or two before the required amount of bitcoins or fiat appears. The security of the exchangers also raises doubts. If the top-level exchange is guaranteed to be protected against cyber attacks, then how this issue is decided by the owner of the exchanger is known only to him.

5. Advantages of online exchangers

All of the information mentioned above does not exclude the essential advantages of the cryptocurrency exchangers:

  • User-friendly interface. Registration procedure is extremely simplified, and often completely absent.
  • Any exchanger is fully integrated with all popular payment systems.
  • For registered customers, there is a program that provides an incremental discount for each subsequent exchange.

But all these advantages do not matter if the exchanger offers a disadvantageous course.

6. How should a safe exchanger look like?

A successful exchanger must work at least for a year. To be confident in successful exchange, you should take an interest in reviews on independent resources. In view of the volatility of the cryptocurrency, it is necessary to give preference to exchangers with automatic or semi-automatic mode. A good exchanger has enough reserves of cryptocurrency and fiat, it and its support work around the clock.

7. Conclusion

Online exchanger is a fast service for buying or selling coins. But it is completely unfit for trader strategies, since its commission can eat all the potential profits.

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Are Nasdaq and Gemini More Than Partners? 156

nasdaq and gemini are uniting

The representatives of crypto exchanges Gemini and Nasdaq had a closed meeting during which they discussed the possible cooperation in the future.

However, it turned out that the cooperation is too weak of a word in this situation, the exchanges might become a joint venture. This will be beneficial for both of the exchanges, since they will become more liquid and will be able to list more digital coins.

The information came from an anonymous source. He/she stated:

Nasdaq and Gemini have gotten very, very comfortable with each other.”

We would like to remind you that there were rumours that the Winklevoss brothers tried to bribe authorities to get an approval for Gemini.

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Ripple Is Partnering Up With Bittrex and Two More Exchanges 177

ripple adds three crypto exchanges

The project Ripple has recently been very active in terms of cooperation. Not so long ago it invited Bill Clinton as a speaker for their conference and helped Madonna with her charity campaign. This time it announced about the partnership with 3 crypto exchanges.

Bittrex (The United States)

– Bitso (Mexico)

– Coins.Ph (The Philippines)

https://twitter.com/CoryTV/status/1030093091410247680

According to the chief marketing strategist of Ripple, those exchanges were chosen due to the efficient amount of XRP tokens on their accounts.

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OKEx Will Delist 28 Cryptocurrency Pairs 754

okex delists crypto pairs

On carrying out thorough monitoring, the team of the crypto exchange OKex announced the delisting of 28 trading pairs.

On August 17, 2018, the following cryptocurrencies will be excluded from the listing of the platform:

USDT Market: LA, READ, SNM

ETH market: UTK, WRC, QVT, SAN, UBTC, DNT, OAX

BTC market: UBTC, BCX, BT2, WBTC, UKG, LA, SAN, ATL, REQ, BRD, SNM, VEE, TIO, REF, UTK, WRC, QVT, DNT

The developers of the exchange plan to continue delisting low-quality projects in the future.

We remind you that OKEx announced that it would pay $460 million to cover unforeseen losses of traders.

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Is It Safe to Use Crypto Exchanges and Wallets in 2018? 523

crypto exchanges are not reliable

The cases of hacker attacks aimed at major cryptocurrency exchanges and various scams are getting more and more frequent. A lot of experts in this field start seeing an ongoing tendency in this. So why are many cryptocurrency holders losing trust in digital wallets and exchanges?

Firstly, we all remember the strange story with the bounty campaign of John McAfee’s wallet Bitfi, during which nobody received the promised $250k. Secondly, one of the largest crypto exchanges Bithumb was hacked not so long ago with the losses of about $30 million. The list goes on and on.

Encrybit conducted a thorough research of the issue and conducted a survey. According to it:

40% of participants said that security is a major concern.

Hopefully, the representatives of exchanges and wallets take this into consideration and upgrade their security systems and customer service so that the users can be sure their funds are well-protected.

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Algorithm of Action for Victims of Scam ICO 1226

scam ico

The market for initial placement of coins is saturated with fraudulent projects, which initially promise to “change the world”, but after receiving funding, they stop being in touch. There are, of course, those which simply are not able to fulfill their obligations, and the product for which the investors’ money was spent is not necessary for anyone. Some particularly brazen scammers removing their site, leave on it not quite censorship messages, as it was with the Lithuanian startup, which wanted to “bring the blockchain” into the vegetable and fruit industry.

In this article, we’ll talk about what you need to do in order to get your money back if you have already invested it in a fraudulent ICO.

Contents:
(please, click the topic to scroll down to it)

  1. Is it real to return your money if you’ve invested in a scam ICO?
  2. What to do in the beginning? Collect evidence
  3. Who to sue?
  4. What do you need to know about the court?
  5. Conclusion

1. Is it real to return your money if you’ve invested in a scam ICO?

As practice shows, surely, there have been similar precedents in history, but to a greater extent they concern only the United States and Canada. For example, in 2017 on the initiative of the SEC, the founders of the scam project Munchen returned 15 million dollars to their depositors. Another example, the organizer of the cryptostart PlexCoin Dominic Lacroix was arrested, sentenced to 8 weeks of imprisonment, and fined personally for 10 thousand, and his company for 100 thousand dollars.

The Securities Commission is actively working in this field, but, unfortunately, outside of North America it is not yet particularly developed. For example, in the CIS countries no ICO scammers have been caught yet. But, despite this, there is still a chance to get your money back. Please read this material to know what to do in such an unpleasant situation.

2. What to do in the beginning? Collect evidence

So, unfortunately, you have already realized that you gave your money to criminals, what should you do? To begin with, you need to collect as much evidence as possible:

  • screenshots of correspondence in Telegram or other messengers;
  • copies of e-mails;
  • white paper and road map of the project.

If you personally talked on the phone with the organizers of the ICO, then you need to contact the provider to give you a printout of your calls. If you have a personal contact in offline, you must specify the place, date and time of the meeting. If this happened in a public place, it is likely that the fraudster’s face has got into the surveillance cameras.

3. Who to sue?

The overwhelming number of ICO projects has a similar structure. Often, in order to start the production and sale of digital tokens, the organizers register a special issuing company. As a rule, they are created in the Seychelles or the Cayman Islands or in Estonia and Singapore. Unfortunately, finding out data about an issuing company is a rather difficult task. The only place where you can find out which legal body is in charge of this project is an agreement to sell tokens or Token Sale Agreement.

But, it is worth noting that a registered issuing company cannot conduct operational activities, and it is even more complicated to find any information about who conducts it than about an issuing company. Of course, you can try to look for tracks through the project team, but if the organizers of the ICO have created a scam from the very beginning, then they hardly indicated their real names there. Most likely, charges will have to be raised against the issuing company.

4. What do you need to know about the court?

The good news for victims of fraudulent ICO is that there are virtually no “loopholes” in the world where financial criminals can remain in the shadows. Banks from different countries of the world cooperate with each other and transmit information about the movement of money; therefore, to hide a large amount of stolen money every year becomes more difficult.

The bad news is that defrauded investors can demand financial compensation only through local courts of the countries in which the issuing company is registered. Litigation is not a cheap pleasure:

  • Estonia – 7-8 thousand euros;
  • The Cayman Islands – 30-50 thousand dollars;
  • Singapore – 80-130 thousand dollars.

These figures do not include government fees and other related costs. In order for “battle to worth the blood,” the amount of lost funds must significantly exceed the costs associated with the court. An alternative way to save money in this matter is to file a collective claim. For this it is necessary to collect in one place a certain number of the same deceived investors and to divide the costs equally.

5. Conclusion

There are a lot of scam projects on the ICO market, so it’s quite difficult for an investor who is starting not to get bogged down by criminals. But even if you have become a victim of swindlers, albeit low, but still there are the chances of getting your investments back. It is necessary to adjust to a lengthy lawsuit, which will also require financial injections from your side.

How to Spot a SCAM?

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How to Remove Scammers from the ICO Market? Review of ILP Funding 1020

ilp as a solution of scamming

The ICO market is developing by leaps and bounds. If for the whole of 2017 all start-ups attracted a little more than $3 billion, then just for 5 months of 2018 this figure reached 13.7 billion. This method of collecting investment is fairly simple and very convenient for all parties. But it has a downside: the fact is that along with honest teams in the market there are a lot of scammers who simply take money from trusting investors. An unprofessional investor has a much higher probability of getting trapped than getting a profit. The ICO market does not have any administrative control, regulatory rules and verification. In this article we will talk about one of the options for solving this problem, namely ILP funding.

Contents:
(please, click the topic to scroll down to it)

  1. What is ILP?
  2. The main advantages of ILP
  3. Forecasts for ILP
  4. Conclusion

1. What is ILP?

This alternative to IPO in the crypto world (and not only) was first proposed by the international company Tokenote. The abbreviation ILP stands for Initial Loan Procurement. To eradicate fraudulent schemes, all participants (both borrowers and creditors) undergo a procedure for verifying the identity through a digital ID. Only after this the borrower can create smart contracts, and creditors (investors) make investments. Directly crowdfunding takes place on the Blockhive platform, where internal currency is the HIVE token. The main idea of ​​the developers is the modernization of the ICO market and the elimination of its main shortcomings.

2. The main advantages of ILP

  • Combining the simplicity of the ICO and the legal responsibility of the parties. Clever contracts in this concept are signed by means of a digital signature, so they have legal force, and then they are stored in the blockchain.
  • All procedures meet the necessary requirements of international law, therefore ILP provides for prevention of money laundering schemes. This is achieved through verification and authentication of all participants in the process.
  • One of the main differences between ILP and ICO is the lack of funding based on tokens. The fact is that within the ICO, start-ups, in pursuit of initial investments, can release an unlimited number of tokens, creating a glut in the market. In ILP, there are loans, not tokens, so the problem of inflation is solved by itself.
  • Due to the fact that investments are fixed in the legal field under the guise of loans, they cannot be taxed. This is a huge plus, as in our time in many countries there are quite impressive taxes on the cryptocurrency.
  • Within ILP, investments are protected from speculative schemes, as investors derive their profits from the company’s real revenues, rather than from the artificial increase in the price of tokens.
  • ILP funding need not necessarily be related to cryptocurrencies, this method of attracting investments is much more universal than ICO (private companies, government structures, etc.).

3. Forecasts for the development of ILP

This method of issuing digital credits can potentially have a great future, since ILP is as simple as ICO, but it has a much greater range of functions, and is also in the legal field. For this reason, ILP is unlikely to be prohibited even in such countries as China, where the ICO is banned.

4. Conclusion

The ICO market is certainly one of the most highly profitable investment instruments in our time, but due to the lack of regulation, there are a lot of scammers here. A novice investor has virtually no chance of succeeding in this field. ILP is one of the solutions to the problem of fraudulent schemes in this area.

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