41% of Surveyed Crypto Investors are Newbies
41% of Surveyed Crypto Investors are Newbies 101
Source: AdobeStock/Pormezz

As many as 41.4% of cryptocurrency investors are crypto newbies, and 60% of them declare they have invested between USD 2,500 and USD 5,000 in crypto, according to the results of a recent survey by alternative investment firm Invictus Capital.

“Today’s investor resembles a 35-year-old German engineer named Günther. He derives his crypto investing information from YouTube, because he values learning how to generate high returns on his investment more than the idealism of cutting out the middleman,” the company said in the survey’s summary.

They are referring to the finding that the country with the highest percentage of surveyed alternative investors was Germany, at 14.1%, followed by the US and Spain, with 7.7% and 6.8%, respectively. The UK and Turkey were ranked fourth, both at 4.8%.

Furthermore, the survey indicates crypto investing is dominated by those aged 31-45, with 41.8%, while respondents aged 25 and below represent 25.1% of the total. Investors aged 25 to 30 hold a 22.9% share, while those aged 45 and above represent only 10.2% of the total.

The survey collected answers from some 3,473 respondents spread across a total of 60 countries. Ofir Sever, a PR spokesperson for Invictus Capital, told Cryptonews.com that the survey’s focus was to determine the modern investor profile, media consumption habits, crypto investing sources, as well as investing habits. The survey was carried out online last February and March, and it targeted investors.

Data was sourced from respondents with access to high-speed Internet, with a significant share of responses from the European Union’s member states and Asian countries, according to the spokesperson. Mobile users provided 94% of the responses, with desktop and tablet users generating a further 5.5% and 0.5%, respectively.

The average sum invested in crypto is reported to be USD 2,500 – USD 5,000, with 60% of those surveyed marking this option. 40% also reported investing USD 100 – USD 2,500, while more than 30% of the respondents have also made investments under USD 100.

With regards to the respondents’ professional profiles, engineers lead the way, at 12.5%, followed by tradesmen and lawyers, both at 9.6%, and finance professionals with 8.6%. Among the listed professions, IT is at the bottom of the list, with 1.6%.

The survey’s summary further stated that:

  • 68% said high returns remain a motivation;
  • 54% see crypto investing as a method to future proof their money;
  • 25% invest to mitigate dealing with middle men;
  • 50% noted high fees on exchanges, quality, and volume on exchanges as the biggest challenges they faced.

And speaking of exchanges, 69% of surveyed investors listed Binance as their exchange of choice, followed by Coinbase with 42.6%, and Kraken with 13%.

74% of the surveyed individuals chose YouTube as their preferred social channel.

Meanwhile, almost 40% percent of respondents said that they invest on a weekly basis, 34.3% said they invest monthly, and 7.7% said they invest once a year, Invictus Capital concluded.

____

Learn more:

9% of Surveyed US Teens Claim to Have Traded in Crypto

50% of Inexperienced Investors to Hold Bitcoin Less Than a Year – Survey

18% of Asked Americans Bought Crypto, Most Know Only Bitcoin – Survey

Young Investors Drive Increased Aussie Bitcoin & Crypto Investments

Investors Still Prefer Stocks To Bitcoin, But BTC Wins Over Gold – Survey

More Professionals Trust Crypto Than Want To Get Paid In It – Survey

Crypto is Here to Stay, But There is a Twist, Survey Shows

Hong Kong-based app-maker Meitu bought another 175 BTC to reach the $100 million in its Cryptocurrency Investment Plan
hong-kong-based-app-maker-meitu-bought-another-100-million-in-btc-and-eth-to-its-treasury

According to the announcement today, the beauty application Meitu purchased another 175 BTC to reach the $100 million mark it set for itself in its Cryptocurrency Investment Plan.

Meitu buys another $10 million in Bitcoin

Therefore, the goal to invest $100 million in the cryptocurrency of Meitu has been achieved. The plan called for Meitu to add $100 million in BTC and ETH to its treasury, both as an investment and preparation for future initiatives. Meitu intends to use some of the ETH to launch decentralized apps in the future.

The publicly traded firm first acquired $40 million in BTC and ETH in early March of this year, when it unveiled its intention to make further purchases. A week later, it purchased another $49 million. Today’s announcement is the final $10 million of the acquisition.

In total, Meitu holds 31,000 ETH (valued at $50.5 million) and 940 BTC (valued at $49.5 million).

Coinbase disclosed in late March that its institutional business facilitated the past purchases, a service it has provided for other public companies such as Tesla. It’s unclear if the latest purchases were also handled by Coinbase.

Meitu is one of the first China-based publicly listed companies to add crypto to their treasury. Other tech firms like Square, Tesla, and MicroStrategy made headlines in the past year for making similar acquisitions.

Is Regulation the Silver Bullet for Financial Malpractice? / What is Financial Regulation and Does it Matter to DeFi?

The text below is an advertorial article that was not written by Cryptonews.com journalists.

cryptonews

In traditional finance, financial regulation is intended to provide protection, safety and stability for institutions and consumers alike. Organisations such as the Securities and Exchange Commission (SEC) in the US and the Financial Conduct Authority (FCA) in the UK are tasked with policing the conduct of banks, asset managers and other financial organizations to ensure that strict rules are followed and punishments applied when those rules are broken.

DeFi and cryptocurrency more widely has fallen outside the remit of regulation since Bitcoin was first launched in 2009. For more than a decade digital asset holders and service providers have largely been able to go about their business unfettered by the same rules and regulations that fall on the shoulders of JP Morgan Chase, for example; not least because the rules that are set for traditional financial institutions are extremely difficult to apply to digital assets.

Regulation across TradFi, CeFi and DeFi

As anyone who has ever applied for a credit card, bank loan or mortgage will know, the long-arm of financial regulation places a significant emphasis on data collection and suitability assessment. This requires collecting and storing vaults of customer information, running complex individual credit risk checks and ensuring detailed custody, anti-money laundering and transaction regulations are followed – and while this is achievable for JP Morgan, it is less so for many cryptocurrency organizations.

In the world of CeFi, or centralized finance, we are seeing moves in this direction, with Coinbase – one of the largest CeFi exchanges – in regular discussions with the SEC as it seeks to list on the US stock market. However, in the world of DeFi, regulation is anathema to much of what the ecosystem stands for. Built largely on a decentralized, permissionless system of autonomous smart contracts, many protocols do not have the central management required to carry out regulation. Moreover, many DeFi applications don’t ask users for their information (or “KYC”), which is a key attraction for many DeFi users.

Regulation and the regulated

Governments and public-sector bodies often cite seven specific areas as being major goals of financial regulation: investor protection, consumer protection, financial stability, market efficiency, competition, the prevention of financial crime, and fairness. For end users, investor and consumer protection are the most important and refer to the way in which financial organizations should market investment products and communicate with their customers. Rules in these areas generally call for transparency (especially around potential risks of products and investments) and clear, open communication with customers.

This is, few would dispute, a highly laudable facet of regulation that should protect vulnerable customers. In practice, however, it frequently doesn’t. Aside from the sort of systemic failings the world witnessed in 2008/09, leading to USD 321 billion in fines dished out to major banks such as Barclays for LIBOR rigging, regulation often fails to keep out bad actors. In the UK, the “mini-bond” space has been a hotbed for fraud, with more than 11,000 people losing GBP 236 million in 2019 to a company claiming to offer property-backed savings accounts. These savers – largely inexperienced older people – suffered heavy losses and the scandal led to a widespread overhaul of a space with hundreds of similar cases.

Best practice should span all sectors

Despite its failings, however, regulation is important: many schemes such as the UK’s Financial Compensation Scheme (a fund paid for by banks that will reimburse savers in the event a regulated institution collapses) provide genuine protection for consumers, as do imperatives for clear, transparent disclosure about products and services and treating customers fairly. Most importantly, however, the onorousnes of regulation can also help to keep out some of the worst actors who may not have the conviction or capacity to comply with regulation.

As such, YIELD App seeks to emulate the key tenets of prudential regulation across its entire platform and customer service proposition. We provide clear and consistent public information including a product disclosure statement that details our structure, practices and principles and clearly states the risks associated with digital assets. On our site we also host a comprehensive set of FAQ’s along with a 24-hour customer helpdesk to ensure we can answer any customer queries quickly and accurately. YIELD App also seeks to mirror important system-level financial regulation, including well capitalized treasuries and the prevention of financial crime through level 1 KYC. We have also partnered with Merkle Sciences for chain analysis to ensure we comply with the FATF red flag rules and to adhere to our internal KYC/AML policies.

While DeFi is operating independently today, as one of the fastest growing areas in cryptocurrency DeFi is likely to fall under the scrutiny of regulators in the future: indeed, ita seems impossible that a market of 40 Billion USD that is expanding by the multi-millions every day would not. Therefore, it is essential that any organization truly serious about its long-term future as a DeFi service provider operates under the best practices already established in traditional finance. As highlighted above, regulation itself is no guarantee: it is only as strong as those that implement and comply with it, and you don’t have to be regulated to do so.

Signal Turns Into Noise With MobileCoin Integration
Signal Turns Into Noise With MobileCoin Integration 101
Source: Adobe/natanaelginting

Private messaging app Signal, which is also popular among crypto users, announced they’re launching payments using MobileCoin (MOB). But then things turned sour.

Per the April 6 announcement, this is a beta feature in Signal Beta, available to the United Kingdom folks for testing and feedback purposes. They plan to expand the beta following more feedback.

Privacy-focused payments network MobileCoin, which uses the Stellar (XLM) Consensus Protocol (SCP) to synchronize a ledger, is the first payments protocol for which Signal added support, enabling a MobileCoin wallet to be linked to the messaging app in order to send/receive funds, monitor balance, and review transaction history. It’s currently possible to convert to/from the MOB token on crypto derivatives exchange FTX, with other exchanges coming soon, they added.

Signal does not have access to a user’s balance, full transaction history, or funds, they claimed, while users can transfer their funds “at any time” if they want to change services. Per Business of Apps data, Signal had 40m users in January this year.

But the reaction to this rollout wasn’t entirely positive. Some claimed that Signal is “dabbling in shitcoin pump,” and others added that Signal “has alienated all Bitcoiners” with this move.

just setting up my twttr

— jack (@jack)

Other criticism includes comments that Signal creator Moxie Marlinspike is using Signal to pump his MOB bag. Marlinspike has also been a technical adviser for MobileCoin.

However, he told WIRED that neither he nor Signal own any MOB tokens.

In 2018, the project announced a fundraising round led by Binance Labs for USD 30m denominated in ethereum and bitcoin. Per TechChrunch, the payments network recently raised USD 11.35m in funding across two rounds from Future Ventures and General Catalyst.

Furthermore, Marlinspike is listed as Chief Technology Officer in the MobileCoin whitepaper.

And speaking of the whitepaper, developer Tadge Dryja said that he found a MobileCoin whitepaper, which is reportedly just a copy of the ‘Zero to Monero’ paper with a few changes.

Others made similar allegations, such as Riccardo Spagni, the former lead maintainer of Monero.

just setting up my twttr

— jack (@jack)

BlockTower Capital founder Ari Paul, however, commented that MobileCoin is not a fork of Monero, and that Spagni’s claims can’t be used as proof to the contrary as he’s “an altcoin [developer] criticizing competition.”

This was a part of a longer technical discussion and disagreement over the project’s specifics.

Per Marlinspike himself, “Signal chose to integrate MobileCoin because it has the most seamless user experience on mobile devices, requiring little storage space on the phone and needing only seconds for transactions to be confirmed.”

The market situation caught the eye of analysts and traders, including Eric Wall, the Chief Investment Officer of the crypto hedge fund outfit Arcane Assets, who likened MobileCoin to an inedible footlong sandwich filled with a bunch of random ingredients.

just setting up my twttr

— jack (@jack)

At 14:32 UTC, MOB trades at USD 40 and is down by 38% in a day, erasing almost all its weekly gains. The price is still up by 648% in a month.

Does nuclear power have a future?

Why the controversy?

Right from the beginning of nuclear power – the first commercial nuclear reactor was built at Windscale in Cumbria in 1956 – it was controversial due to issues of safety, cost and the long-lived and toxic waste it produces. Even so, nuclear energy continued to expand globally until the 1990s, since when it has all but flatlined. Then, ten years ago last month, the disaster at Fukushima dealt its reputation a body blow. Within days Angela Merkel, previously a strong backer of nuclear energy, ordered all of Germany’s reactors to be phased out. In China the world’s biggest programme of new nuclear plants was put on hold.

How much energy does nuclear provide?

Globally, nuclear power produces around 10% of the world’s electricity, making it the second-biggest source of low-carbon energy after hydroelectric power. But that’s a sharp drop from a peak of 18% in the mid-1990s. According to figures collated by Bloomberg, there are 440 nuclear reactors currently in operation, with a combined electrical capacity of 392 gigawatts (GW). Another 50 are under construction, adding around 15% to current capacity. But that’s not even enough to make up for the 25% of reactors due to be shut down in advanced economies by 2025. Nuclear accounts for a bigger slice in advanced economies – 18% rather than 10%, according to the International Energy Agency (IEA), making it the largest low-carbon source of energy. In the UK, for example, about 20% of current electricity capacity is nuclear. However, half of that is due to be retired by 2025, and all but one of the existing fleet of nuclear reactors is due to be taken offstream in the next ten years. Meanwhile, only one new plant, the 3.2 GW Hinkley Point C in Somerset, is being built, replacing just under 40% of current nuclear capacity.

So it’s in decline?

In most of the world, yes, with advanced economies due to lose two-thirds of their nuclear capacity by 2040. Proponents of nuclear power (including the IEA) argue that it is vital to the overall drive for net-zero carbon emissions by mid-century. Despite the impressive growth of solar and wind power, says the IEA, the overall share of clean-energy sources in total electricity supply in 2018, at 36%, was the same as it was 20 years earlier due to the decline in nuclear since the 1980s. “Halting that slide will be vital to stepping up the pace of the decarbonisation of electricity supply,” it says. Advocates argue that nuclear-power plants aid electricity security by keeping power grids stable and limiting impacts from seasonal fluctuations from renewables, and cutting dependence on imported fuels. In other words, nuclear has a vital role to play as reliable “firm generating capacity” during the decarbonising shift to renewables, and winding nuclear down for misguided safety reasons would be folly.

But isn’t nuclear power dangerous?

The debate about that has long been a battle between those concerned more with climate-change warming (nuclear is carbon-free) and those worried about safety. For pro-nuclear environmentalists, the embrace of nuclear power by China and (to a lesser extent so far) India is cause for celebration. Advocates have long argued that, in terms of the number of people killed or harmed, nuclear power is far safer than other forms of power generation. Since its earliest days, nuclear accidents have killed one person every 14 years, proponents say. Indeed, in 2013, Pushker Kharecha and James Hansen calculated that, between 1971 and 2009, nuclear power saved the lives of 1.84 million worldwide thanks to reductions in air pollution.

But what about Fukushima?

The earthquake and tsunami that flooded Japan’s east coast ten years ago killed about 18,500 people. But the destruction of the three reactors of the Fukushima plant – the worst nuclear disaster since Chernobyl in 1986 – killed only one person as a result of radiation exposure. Moreover, a report on Fukushima released last month by the United Nations Scientific Committee on the Effects of Atomic Radiation (UNSCEAR) concluded that “no adverse health effects among Fukushima residents have been documented that could be directly attributed to radiation exposure”. Future consequences for health “are unlikely to be discernible” and there was “no credible evidence of excess congenital anomalies, stillbirths, pre-term deliveries or low birthweights related to radiation exposure”.

And Chernobyl?

The worst ever nuclear disaster was the result of human errors so “bizarre” that the scenario would have been “thought overambitious by a genuine saboteur”, says Dominic Lawson in The Sunday Times. The Soviet-era accident, which blew a 1,000-ton concrete reactor shield away in a mighty explosion, was the result of an insane experiment in which one of the reactors was made to run at a dangerously low level, the cooling unit disconnected and the safety mechanism switched off. It was feared deaths would run into the hundreds of thousands. In fact, “apart from the heroic Chernobyl emergency team, fewer than 100 deaths have been attributable to increased radiation – and no known birth deformities”, according to UNSCEAR.

So nuclear is safe?

It’s far safer than most people realise, says The Economist. China’s post-Fukushima pause on nuclear didn’t last long: it soon accelerated again and by 2019 produced four times as much as in 2011, with more expansion planned. There’s a strong case for countries such as Britain to follow China’s lead and import its technology. Moreover, modern smaller reactors with lower unit costs are a promising development that can make nuclear cheaper and more flexible. Nuclear power has its drawbacks, but to hasten its decline “is wilfully to hobble the world in the greatest environmental struggle of all”. The lesson of Fukushima is “not to eschew nuclear power, it is to use it wisely”.

The great global semiconductor squeeze

Delays in the Suez Canal will do nothing to ease the global “supply-chain crisis”, says George Stahl in The Wall Street Journal. The semiconductor industry is looking particularly stressed. Computer-chip shortages have been driven by the demand side of the market, says Mark Sweney in The Guardian.

Lockdowns have brought soaring sales of games consoles, televisions and home computers. Meanwhile, modern cars need more chips than ever before (40% of the manufacturing cost of a new car goes on electronics).

“Nearly every” big carmaker has been forced to cut back on production or even temporarily close plants for want of chips, says Stahl. Toyota says that it is not just semiconductors that are in short supply: it has also been hit by a dearth of plastics after freak weather hit the Texan petrochemical industry in February. Carmakers will pay a steep price for underestimating vehicle demand, says Bloomberg. Globally they could lose a combined $61bn in sales this year.

The semiconductor market is cyclical and had been on a downswing before the pandemic triggered a sudden spike in demand. Politicians in Washington, Brussels and Beijing are concerned about the security of semiconductor supply, which is dominated by companies from Taiwan and South Korea. Industry behemoth Apple was forced to delay last year’s launch of the iPhone 12 while it scrambled to source enough chips, says Sweney.

And Samsung, itself the world’s second-biggest semiconductor maker, is struggling to find enough of the widgets for its own smartphones. The shortages have triggered a price spike but new supplies won’t arrive soon: “It can take up to two years to get complex semiconductor production factories up and running.”

Travala Review – Book Cheap Hotels & Flights with Crypto + More

If not, you are missing out on one of the best cryptocurrency-friendly travel bookings. There are a lot of perks of using Travala such as cashback, cheapest price, and a lot more. And this is not all, Travala offers AVA token which is the native cryptocurrency of the Travala.com platform, offering a staking feature and a SMART program that you will learn about in this detailed review of Travala.

The first time I bumped into Travala was almost one and a half years back, but back then it was not as dynamic as it is not, and it is a good replacement for your existing travel bookings websites like Booking.com, Expedia.com, MakeMyTrip.com, and others. Now the price offered by Travala is at par with other similar non-crypto payment sites, and for crypto netizens, it could be a go-to place for booking travels with cryptocurrency.

What is Travala.com?

Travala is an easy-to-use booking platform combining decentralized technologies & tokenized incentive structures. The Travala.com platform currently offers 2,200,000+ properties covering 90,124 destinations in 230 countries and territories and with prices up to 40% cheaper than mainstream travel booking platforms.

Travala was founded in 2017, and in March 2020 they strategically merged with Travelbybit, which was backed by Binance. At the time of writing, Juan Otero is the CEO of Travala. The company has offices in Australia, Vietnam, and UK.

Now, before we cover about AVA token of Travala, let’s have a look at some features of Travala.

Travala Features:

Easy to use Website:

If you have ever used an online portal for booking hotels, accommodations, or flights, you will have the same or better experience using Travala. The website is fast and offers a great user-experience.

Travala Mobile app:

Travala offers a fully-fledged mobile app that lets you make bookings from the comfort of your mobile phone. However the mobile app only supports the booking of hotels, and flight bookings are not yet available.

Visit Travala website || Download Android App || Download iOS App

Book accommodations & flights with Crypto:

If I have to highlight the single most important feature of Travala, that would be booking of travels using Cryptocurrencies. At the time of writing this Travala review, they support a wide range of cryptocurrencies including Bitcoin, AVA, Ethereum, ADA, BNB, XRP, LTC, and many more. Even if you make a payment via cryptocurrencies, you can get a refund for your cancellations.

Travala (backed by Binance) is also one of the major websites that integrate with Binance pay. Think of Binance pay as PayPal for cryptocurrencies. Watch the below video to learn more about Binance Pay:

Travala cancellation & refund:

I’m pretty sure you are aware that cryptocurrency transactions are irreversible, but with Travala you can get a refund for your cancelled bookings, even if the payment is done in cryptocurrencies including Bitcoin.

According to their website, this is the cancellation refund time:

  • Credit Card / Debit Card payment: Funds may take up to 30 days to appear in your bank account, depending on your bank billing cycle.
  • Crypto payment: The Funds will be sent within 7 days since the cancellation made. The refund will be made in BUSD and will be sent to your wallet in your Travala.com account.
  • Crypto.com Pay: Funds will be sent within 10 days since the cancellation made. You will receive a refund in the cryptocurrency that used to make the payment and the refund amount may differ due to the market’s current price of the cryptocurrency.
  • Travel Credit payment: The refund in travel credits will be sent to Travel Credits Wallet in your Travala.com account.

Loyalty program (Smart member)

Travala offers one of the best loyalty programs in the travel industry, which is available for the AVA token holders. This program is called the Smart program. You can get up to 10% savings on travel bookings and 12% APY bonus rewards.

Smart program offers up to 5% discount off the listed prices together with up to 5% loyalty reward after you have completed your stay. It works on holding a tiered amount of AVA in your wallet. When activated, it applies to hotel and accommodation bookings that have the Smart Icon available. You will also earn bonus rewards of 12% APY just for activating the membership.

There are 5 different levels of Smart program at the time of writing, and every higher tier offers an added advantage.

Travel Credits:

You can buy Travel credits under “My Profile” which can be later used for making payments for your travel. On the booking page, you will find the option to pay with Travel Credits. If the credit is sufficient, just hit the button “Pay with travel credits”. If not, you can pay partially by travel credits and pay the rest with other payment methods including Credit Card, Cryptocurrencies, and wallets. Travel credits are valid for a lifetime and once activated have no expiry date.

Travel gift cards:

You can also buy and gift Travala gift cards to your friends, family, and colleagues. They can further use these gift cards to make bookings via Travala.

There are many more features of Travala.com that make it the best cryptocurrency-friendly travel booking website. However, I let you explore all the other features of your own.

Visit Travala.com

For now, let’s explore the AVA token which is the native cryptocurrency of the Travala platform.

AVA token – Features and where to buy:

AVA is the native cryptocurrencyof Travala platform, and its purpose is to incentivise user to use Travala platform, and enhance user engagement.

Travala.com’s AVA Repurchasing Plan will take place every quarter until 21,571,086‬ AVA are permanently destroyed. This represents 35% of the total supply (the starting supply is 61,571,086 AVA), reducing the overall total supply to 40,000,000 AVA. The amount of AVA to be repurchased each quarter is determined by Travala.com’s booking activity.

AVA can be used for payments, receiving and redeeming loyalty rewards, refunds, and as a store of value, among several other use cases

There are many practical usages of AVA, which incentives the HODLer’s and also for users who are using Travala.com for travel bookings.

  • Pay for your trip using AVA. Pay the full amount of your accommodation bookings with the AVA token and you will get an extra 3% discount on the total price.
  • Even if you make a payment using a credit card or in any other currency, you will get back 2% of your booking amount in AVA token.
  • Get a bonus reward of 12% of your locked AVA amount per year paid directly to your wallets just for being a member. This program is similar to staking your token.

Travelads and review rewards are coming soon, which will add a more practical use case to AVA token.

Where to buy AVA token from:

AVA token is currently trading on multiple popular exchanges, and some notable once are:

Where to Store AVA token:

AVA is BEP-2 Token and can be stored in any wallet that supports the Binance chain.

Here are some popular ways of storing AVA tokens.

Useful resources of Travala:

Conclusion: Should you be using Travala platform?

Well, Travala seems like a brilliant solution for booking your Travel (Flights, hotels, and more) using Cryptocurrency. However, it is not only limited to cryptocurrency, and also accepts payment via Credit card/debit card which makes it an interesting proposal for a lot of users.

The user base is slowly growing, and Travala is partnering with many platforms including Expedia, Viator, and many others. Overall, for any cryptocurrency users who plan to live on Cryptocurrency or looking for more ways to spend their cryptocurrencies, Travala seems like a great option.

Now, it is your turn to let me know:

  • Have you used Travala to make travel bookings via cryptocurrencies?
  • How was your experience of using Travala?
  • Do you know similar sites as Travala?
  • What’s your overall review of Travala.com?

Let me know your answers in the comment section below.

Crypto Corner Podcast 557: Stocks discussed: (OTC: $ARBKF) (TSXV: $DMGI.V) (TSX: $HUT.V) (NasdaqGS: $NVDA) (CSE: $NC.C)

Level Roberts, WA and Delta, BC – March 26, 2021 (Investorideas.com Newswire) Investorideas.com, a pacesetter in crypto and blockchain investing information brings you right now’s version of the Crypto Corner podcast and commentary on what’s driving cryptocurrency shares and the crypto market.

Crypto Nook Episode 557: Argo and DMG Launch Bitcoin Mining Pool, Hut 8 Buys $30M in NVIDIA CMPs, and NetCents Experiences Surge in Signal-ups

Shares mentioned: (OTC:ARBKF) (TSXV:DMGI) (TSX:HUT) (NasdaqGS:NVDA) (CSE:NC)

Argo Blockchain (OTC:ARBKF) has entered right into a Memorandum of Understanding (MoU) with DMG Blockchain Options Inc. (TSXV:DMGI) to launch Terra Pool, described as “the world’s first Bitcoin mining pool powered by clear vitality.” An excerpt from the press launch reads:

Terra Pool will present each a robust incentive and accessible platform for cryptocurrency miners to supply Bitcoin in a sustainable and climate-conscious approach with the objective of considerably lowering greenhouse fuel emissions over the following decade. Within the near-term, Terra Pool will work with like-minded Bitcoin miners to expedite the shift from typical energy to scrub vitality.

Hut 8 Mining Corp. (TSX:HUT) has purchased $30 million of CMPs (Cryptocurrency Mining Processors) from NVIDIA Company (NasdaqGS:NVDA), a transfer anticipated to extend Hut 8’s mixture working fee by roughly 1600 Gigahash. Jaime Leverton, CEO of Hut 8, defined:

“The adoption and the event of purposes interacting with numerous blockchain networks have by no means been stronger, opening many potentialities throughout a wide range of industries. We’re extremely excited to have these excessive efficiency CMPs in our fleet. We consider mining with CMPs will open up new alternatives for Hut 8 and can enable us to proceed to execute on our long- and short-term plans for elevated and diversified income streams.”

NetCents Expertise Inc. (CSE:NC) has reported a surge in new companion sign-ups and leads within the final 60 days. Particularly, the corporate has obtained a mean of 10-15 new companion leads weekly over the previous 60 days with an in depth fee of 30 % over that interval, growing to 40 % over the month of March. In response, NetCents is “within the strategy of tripling the scale of its companion gross sales and account administration crew.” Patrick Albright, Senior Vice President Strategic Improvement at NetCents, stated:

“In my three a long time within the funds trade, I’ve by no means seen such enormous demand for a product. Cryptocurrency, and the processing of funds in these currencies, is now not one thing that’s one thing for the long run. It’s now essential to have the power to deal with customers’ elevated demand for cryptocurrency transactions. North American companions and retailers at the moment are seeing what the remainder of the world has already been witnessing. Crypto funds are right here to remain and can develop into an growing a part of a profitable cost technique.”

Sam Mowers, Investorideas

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Bitcoin Cash (BCH) exploded, targeting $ 850 levels

Throughout the past week, the Bitcoin Cash (BCH) price has risen from the $ 600 support level and has risen significantly.

Bitcoin Cash is expected to continue to rise to as little as $ 850 and is likely to move higher thereafter.

Long-term level of Bitcoin Cash

The weekly chart shows that BCH has risen significantly during the week from February 8 to 15 to reach a high of $ 754. This is the highest price for BCH since July 2018.

Despite the rise, BCH remains far from the main resistance zone at $ 1,160. This is both the 0.618 Fib retracement level of the previous down move and the horizontal resistance zone. If successful in a move above it, the next resistance level will be found at $ 1,840.

Despite bearish divergences in the weekly RSI, both the MACD and the Stochastic Oscillator are moving up. RSI is still trending up above 70.

The trend looks bullish, and BCH is likely to reach the $ 1,160 resistance zone.

Trader TheEuroSniper says that BCH has lagged behind a lot and will catch up to the rest of the market soon. He has outlined a strong resistance zone near $ 1,600. Levels are found between the two resistance zones we mentioned above.

The daily chart also supports the continuation of the uptrend. It shows a break above the $ 600 resistance zone and confirms support on Feb. 15. It left a very long lower shadow after that.

MACD, RSI, Stochastic Oscillator are all increasing, indicating an uptrend and BCH is likely to move higher.

Wave count

The number of waves shows that BCH is in wave three (in white) of a long-term bullish momentum that started in December 2020.

The sub-wave count is shown in orange and shows that BCH is in the fifth and final sub-wave.

The most likely target for this move is in the range of $ 850- $ 860. This range is found using the length of wave one (white) and the length of wave 1 (in white) and the length of wave 1. -3 shines to the bottom of the fourth wave (orange).

BCH / BTC

The BCH / BTC chart shows the price has been moving along the descending resistance line since March 2019. Currently, this line coincides with the resistance zone of 0.025. As long as BCH is still trading below this line, we cannot see the trend as bullish.

However, technical indicators show that the trend is likely to reverse. The weekly RSI produced a significant bullish divergence, the Stochastic Oscillator produced a bullish cross and the MACD histogram just crossed the positive zone.

Hence, BCH is expected to rise towards 0.025 and a breakout is likely. If so, the next resistance zone will be found at 0.046.

Conclude

Bitcoin Cash is expected to continue rising to $ 850 and a breakout above this is likely.

BCH / BTC is expected to rise towards 0.025 and a flare-up to strike the 0.046 level.