Weekly Roundup: Crypto Market Cap Hits $2T, ICE3X Ceases Operations

Jack Dorsey’s NFT tweet will help the poor in East Africa through an upcoming bitcoin donation. To learn more about this developing story and other news, keep reading.

Jack Dorsey’s NFT Tweet to Help the Poor in East Africa

As the non-fungible token (NFT) craze continues, Jack Dorsey is auctioning his first tweet on Twitter as an NFT. Dorsey posted this tweet on May 6, 2006. The auction is taking place on Valuables and will end on March 21, 2021.

Jack Dorsey NFT Tweet

Dorsey has tweeted he will convert the proceeds of this auction to bitcoin and donate them to GiveDirectly. This is a non-profit organization that seeks to end extreme poverty in East Africa. Donations sent to GiveDirectly benefit people in Kenya, Rwanda, and Uganda.

Currently, the highest bidder of this NFT tweet was a Twitter user with the handle @sinaEstavi. He outbid Tron CEO Justin Sun, who had bid $1 million. Estavi bid $2.5 million.

Valuables wrote: “The tweet itself will continue to live on Twitter. What you are purchasing is a digital certificate of the tweet, unique because it has been signed and verified by the creator. Owning any digital content can be a financial investment, hold sentimental value, and create a relationship between collector and creator. Like an autograph on a baseball card, the NFT itself is the creator’s autograph on the content, making it scarce, unique, and valuable.”

Uncertain Regulatory Environment Pushes Crypto Firms Out of South Africa

The uncertain regulatory environment is pushing crypto firms out of South Africa. According to an article on Business Tech, the MTI scam gave regulators in South Africa a jolt and some firms will not wait to see how the matter pans out from a regulatory standpoint.

These crypto firms are planning on moving to Singapore and the UK. That is because Singapore is redrawing legislation to attract crypto firms while the UK is getting requests to embrace cryptocurrencies.

Revix, a crypto investment platform that allows customers to invest in a bundle of cryptocurrencies, is moving its headquarters from Cape Town to the UK. The company is also considering setting up in Germany to scale its operations.

Luno is another crypto company with headquarters in the UK despite being owned by South Africans. The exchange also operates in Singapore.

South African regulators “have been incredibly slow in terms of regulation in the industry and that leads to businesses looking internationally. In an unregulated environment, a customer arrives at our platform with skepticism, and rightfully so,” said Revix CEO Sean Sanders in an interview.

According to Sanders, the uncertainty regarding potential regulation is also making it difficult for crypto firms to market their services on social media platforms thereby limiting growth.

Binance CEO CZ Among the Top Blockchain Billionaires in 2021

Binance CEO, Changpeng Zhao (CZ), is among the top blockchain billionaires in 2021 according to the latest Hurun global list. CZ and 16 other billionaires have cumulative wealth of US$ 77 billion. These billionaires have generated their wealth from running crypto exchanges, investing in cryptocurrencies, and mining crypto.

After facing a price correction in 2018, crypto billionaires are enjoying a boost in their wealth thanks to the recent bull run.

The top five billionaires are Brian Armstrong of Coinbase, Sam Bankman-Fried of FTX, Changpeng Zhao, Chris Larsen, and Jed McCaleb of Ripple. Their net worth is $11.5 billion, $10 billion, $8 billion, $5.1 billion, and $3.2 billion, in that order.

To learn more about Bitcoin, download the Bitcoin Beginner’s Handbook for free.

Bitcoin Beginner's Handbook

Calm After the Strom: Bitcoin Reclaims $57K and Ethereum Above $2K (Market Watch)

Bitcoin dipped to its lowest point in over a week beneath $56,000 but has recovered some of the losses and currently stands above $57,000. Most altcoins have retraced even harder, including a double-digit price drop for the high-flying Ripple (XRP) and Ethereum briefly dropping beneath $2,000.

BTC’s Dominance Increases Despite the Drop

The past several days didn’t go all that well for the primary cryptocurrency. After failing to overcome $60,000 on numerous occasions, the asset reversed its trajectory and headed south.

Bitcoin reached $59,400 on Thursday, but its inability to sustain the upward momentum gave the bears an opportunity to push it down, which led to a $4,000 price drop in less than 48 hours.

Yesterday was an especially harmful trading day for BTC as it slumped to a low of about $55,500. This was the lowest price line since late March.

It’s worth noting that this retracement came as the South Korean kimchi premium normalized following a yearly high. As CryptoPotatoreported, such developments typically lead to a price drop.

Thanks for subscribing, you will get your first report in the next hours!

Nevertheless, the cryptocurrency bounced off and has regained more than $1,500 since its low. As of writing these lines, BTC stands just above $57,000.

On the positive side, the altcoin market has retraced even harder. Consequently, bitcoin’s market capitalization has recovered a little less than 1% and stands around 55% after dipping below that level yesterday.

Altcoins Deep in Red

The alternative coins were on a roll in the past week or so, registering new records. Ripple was among the best performers by adding 100% of value in that timeframe, reaching a 3-year high at over $1,10, and becoming the 4th largest cryptocurrency by market cap.

However, XRP has retraced with about 11% since yesterday, despite the company’s CEO claiming that the court hearing against the SEC went well for the payment processor.

Ethereum dropped below $2,000 but has jumped slightly and currently stands at $2,020. Binance Coin (-2%), Polkadot (-4%), Cardano (-6%), Uniswap (-2%), Litecoin (-5%), and Chainlink (-5%) are also in the red.

The situation with the lower- and mid-cap altcoins is significantly more volatile, as one could expect. Helium (-15%), Ontology (-14%), Qtum (-14%), NEM (-12%), EOS (-12%), Waves (-11%), and Bitcoin SV (-10%) have also retraced with double-digits.

On the other hand, WazurX (37%), 1inch (23%), Enjin Coin (23%), Harmony (21%), PancakeSwap (12%), Yearn.Finance (12%) and Conflux Network (10%) have gained the most since yesterday.

Private equity funds: get strong returns from these bargain investment trusts

Fund-of-funds PIN trades on a near 15% discount despite having cleaned up an unwieldy share structure a couple of years ago and exited a long tail of small holdings in the portfolio. Investment performance over all periods, including back to inception in 1987, is a remarkably consistent 12% per year. Given that most of the portfolio was last valued at the end of September, there is sure to be more to come. Despite the absence of a dividend, the shares are cheap.

Intermediate Capital took over management of ICGT five years ago, giving the fund access to a broader range of private-equity contacts and expertise and enabling nearly half the portfolio to be internally managed. This part of the portfolio has returned 19% per year over five years while the third party funds have returned 14%, promising continued improvement as the internally managed portfolio grows. This progress should bring down the discount from a heady 18%, as it did for Apax.

NB Private Equity (LSE: NBPE) managed a 12-month return of 21% but still trades on a discount of 25% to estimated NAV, reckons analyst Chris Brown at JPM Cazenove, making it “excellent value”. He estimates the discount for Harbourvest (LSE: HVPE) to be 19%, which looks anomalous given its excellent record (a return of 100% over five years) and high exposure to the tech sector (29%). The record of Princess Private Equity (LSE: PEY) is even better, 106% over five years, but Brown rates it as only a “hold” as its discount of 16% is “fair relative to peers”. In absolute terms, it still looks attractive.

Perhaps the biggest bargain is Oakley Capital (LSE: OCI), which is trading on a 26% discount after an 18% return in 2020 and 114% over five years. Performance is held back by the 31% of the portfolio in cash, but this is matched more than twice over by commitments to invest in Oakley funds. The portfolio looks modestly valued given its focus on the popular technology and education sectors. The third leg of its investment strategy, consumer brands, provides recovery prospects once the coronavirus crisis passes – notably via Time Out, the well-known publisher of entertainment and nightlife guides, which has been expanding into food centres and events in cities around the world.

“I am very positive about the outlook for private equity and believe that it will continue to out-perform public equities,” says Gardey. “Long-term ownership has provided superior governance and there have been fewer disasters in the last ten years.” This confidence is reflected across the sector, which makes the cheapness of most of the listed trusts an anomaly. Perhaps, as one cynic says, “the brokers are too busy earning fees from issuing equity in anything renewable to pay any attention to listed private equity”.

What is Metaverse in The Context of Cryptocurrency

In the past decade, we have become increasingly dependent on the internet and the recent pandemic has solidified our dependence on the virtual ecosystem. Though this dependence has served us in a number of ways, it has also created the concepts of identity theft, arbitrary censorship, undue rent extraction (in the form of privacy cost), or sudden cessation of accounts. Thus, few conglomerates or authorities can control our behavior and conduct by controlling our virtual world.

Further, more time spent online has lead to the creation and consumption of more value digitally. To maximize this value, our society needs to allocate serious time and capital for virtual environments, and for this, the environment needs to be durable, secure, and robust. Blockchain has proved to be one such solution.

Blockchain has arrived in our lives as ‘the light at the end of the tunnel’ as it can save us from the control and censorship of the conglomerates and higher authorities while providing an ecosystem that is secure and durable. Blockchain has changed our mindset of security from “secure is Private” to “secure is Public”.

And thus with the power of blockchain and the internet, our virtual world is ready to take a new leap and converge with our real-world (augmented reality) in ways that were never thought of before. This in short can be termed as Metaverse.

Metaverse For Beginners:

Metaverse is a digital world in which anything we can imagine, can exist. The term ‘meta’ means ‘beyond’ and ‘verse’ means ‘universe’, and so the metaverse is the extension of the universe of physical and virtual reality.

The metaverse is that collective, shared virtual space that is created when the physical realm converges with the virtual realm, which includes virtual reality, augmented reality, and the internet. Metaverse has the potential to become a separate individual economy in the coming decade.

The concept of Metaverse can be better understood from Steven Spielberg’s 2018 adaptation of Ernest Cline’s Ready Player One (2011).

Though everyone is still contemplating how the metaverse ecosystem would look like, an author named Matthew Ball has tried to crystalize the idea of this ecosystem as follows:

  • Fiercely social
  • Live and synchronous
  • Massively scalable
  • Persistent
  • Hardware agnostic
  • Highly interoperable
  • Economically fertile
  • A bridge between worlds
  • Content-rich

To read more on Matthew’s views about metaverse, click here.

It is important to understand that metaverse need not incorporate blockchain to exist, but to make the ecosystem fairer and securer to all the participants, blockchain will play a pivotal role in its development. With metaverse, humans will evolve as a fully grown digital species.

Now, let us discuss more on the integration of metaverse with blockchain and cryptocurrencies.

Crypto meets Metaverse

Digital assets and crypto seem to be the most imperative vertical in driving the emergence of a true Metaverse. Hence, we hear and see NFT everywhere.

Non Fungible Tokens are the first step to integrating individual ownership with digital assets. A Non-Fungible Token (NFT) is a digital item that can be created (minted), sold, or purchased on an open market, and owned and controlled by any individual user, without the permission or support of any centralized company.

In order for digital items to have real, lasting value, they must exist independent of an entity who might decide at any moment to remove or disable the item. What NFTs enable for the first time is a decentralized, universal digital representation and ownership layer through which scarcity, uniqueness, and authenticity can be transparently managed.

Therefore, crypto can be the foundation stone needed for the metaverse.

Why do you need to know about Metaverse?

Now let us address the elephant in the room, why am I dumping so much technical stuff on you. Simply, because I have identified an opportunity and would want you to see it as well.

Today, the 10 biggest companies in the world are the ones who adopted the internet when either no one knew about it or if knew, was very skeptical about it. We can be the early identifiers of the potential new-age internet.

There are a number of crypto projects which are trying to develop a full-fledge blockchain-based digital ecosystem. And because it is based on the blockchain, we can participate in the projects by owning their tokens. One such project that I am admiring these days is Decentraland.

Decentraland is a 3D space where you can build virtual worlds, play games, explore museums packed with NFT art, attend live concerts, etc. It works in a standard web browser to give you access to the cryptocurrency and NFT features. You can buy and sell properties, create and sell virtual art for the art galleries, or build worlds. Several companies have invested in land in Decentraland, and some of them may be willing to pay skilled builders to develop it.

There are no limits to what all can be done in this space. Therefore, I am very intrigued with the idea of this new generation of tech which can change the world and our portfolios for good in the near future. I will keep you updated on such projects and will let you know about all the substantial changes.

Please note that I am not a financial advisor and nothing said above is a financial advice. Please DYOR before investing.

Let me know your thoughts on the above.

Tesla Starts Accepting Bitcoin + New Zealand 🇳🇿 Retirement Fund Invests In Bitcoin

A lot has happened in the past week, and here is a quick recap of top crypto news from the past week. 🔥

Top weekly news from the #CryptoWorld in Week 12 of 2021. 📰#CryptoNews#CryptocurrencyNews#CryptoMarket#CryptoTwitterpic.twitter.com/j1Ety6xJDa

— CoinSutra ⚡- Bitcoin & Crypto (@CoinSutra) March 28, 2021

💎 Jack Dorsey’s First Tweet NFT Finally Sold for $2.5 Million in Auction

Jack Dorsey’s first tweet posted 15 years ago in 2006 has been sold for $2.5 million, the proceeds of which shall go for charity.

On Sunday, March 21st, the auction for the first tweet NFT from Twitter founder Jack Dorsey came to conclusion. The auction started two weeks back as Dorsey tried jumping on the NFT craze. Thus, the tokenized version of his first tweet finally went for a price of $2.5 million.

💎 Tesla Starts Accepting Bitcoin

E-car manufacturer Tesla has started accepting Bitcoin, according to a new tweet by CEO Elon Musk, marking a new milestone for the cryptocurrency’s adoption.

The entire fleet of the company’s electric cars (Model S, Model Y, Model 3, and Model X) can now be purchased with the help of the largest cryptocurrency in the U.S.

It’s important to note that Tesla will keep its coins instead of converting them into U.S. dollars.

💎 Fidelity Investments Files Bitcoin ETF Application

Fidelity Investments has filed a Bitcoin ETF proposal with the SEC. The asset management giant is the latest to join the queue of firms hoping to lay claim to the product.

Fidelity’s subsidiary, FD Funds Management LLC, filed its S-1 with the Securities and Exchange Commission (SEC). The firm’s Bitcoin ETF is called the “Wise Origin Bitcoin Fund.”

The financial service company’s child unit Fidelity Digital Assets, will provide the custodial services to store Bitcoins backing the ETF.

💎 Indian companies will now have to disclose their crypto holdings in financial statements

Indian companies have been mandated to disclose their crypto holdings in financial statements, according to new rules that are coming into force on April 1.

India’s Ministry of Corporate Affairs amended Schedule III of Companies Act, 2013 on Thursday, and it now requires companies to detail their crypto holdings.

The details include “profit or loss on transactions involving cryptocurrency or virtual currency,” “amount of currency held as at the reporting date,” and “deposits or advances from any person for the purpose of trading or investing in cryptocurrency/ virtual currency.”

Also see: Is Crypto legal in India? (Video)

💎 Indonesian Govt To Launch Crypto Exchange to Get a Piece of Crypto Pie

The Indonesian deputy minister of trade Jerry Sambuaga has announced that his ministry will launch its own crypto exchange in the near future.

The initiative will allow the government to capture a share of the country’s booming crypto sector, with last year’s crypto asset-related trade estimated to be worth about USD 4.44 billion, according to data cited by the deputy minister.

Sambuaga pointed out the rising value of Indonesia’s crypto market, and the deputy minister said that what “this means is that it shows the future direction that digital assets [and] digital commodities can be an alternative.”

💎 New Zealand Retirement Fund Invests In Bitcoin

The KiwiSaver Growth Strategy fund, which is part of New Zealand’s national KiwiSaver program, has reportedly invested 5 percent of its funds into bitcoin.

The program is meant to be used as a retirement savings vehicle for New Zealand’s citizens, with tax incentives and age requirements similar to a 401(k) account in the U.S. The KiwiSaver Growth Strategy fund has about $244 million ($350 million New Zealand dollars) in total investments, according to local news outlet Stuff. It’s managed by wealth firm NZ Funds Management.

💎 What is Binance Card and How does it work?

The Binance Card is a cryptocurrency debit card that is free, fast and easy to both obtain and use.

This is a debit card with which it is possible to convert and spend cryptocurrencies in more than 60 million shops worldwide using the Visa circuit, by transferring crypto from the Binance spot wallet to the card wallet.

The special aspect is that it is completely free of charge. In fact, Binance does not charge the user any administration or transaction processing fees, however, third-party fees may still apply based on usage.

Also check out: Best Bitcoin Debit cards

Well thats all for this week.

I will see you soon with more exciting updates from the crypto world.

Regards

Harsh Agrawal

Join us on Twitter

Latest post: Top Crypto copy trading platforms

3 Best Crypto Copy Trading Softwares (Cryptocurrency Social Trading)

Do you want to make money from Crypto trading?

And like many others, you are just a beginner in the world of crypto trading. Well, you don’t need to be disappointed as copy trading platforms are here for your rescue. This is one of the easiest ways for anyone to piggybank on the skills of experienced traders and make a passive income. Of course, it comes with the inherent risk of trading, but with a disciplined approach, and by regularly finding top crypto traders, you can definitely ace the game of crypto copy trading.

Name Copy Trading Trading Terminal Bots Supported Exchanges Pricing
eToro Own exchange 5% for withdrawals
PrimeXBT Own Exchange Performance fees
Shrimpy Binance, Bitfinex, Bittrex, KuCoin

Coinbase pro, Gemini and more
$19/month
3Commas Binance, Bybit, Bitmex and more Variable plans

But, What the heck is Copy trading?

Copy-trading is copying the trading strategies or trades of someone else. Usually, it is experienced traders who are constantly generating more profit than losses. While we are at it, you should know that Copy trading is also known as social trading or mirror trading. Essentially, they all are one of the same things.

This copy trading software’s automate buying and selling of crypto assets by mitigating the original trades of professional traders. You as a user only need to deposit an initial capital which could be as low as $50, select an expert trader on one of these cryptocurrencies social trading platforms, and from here on everything will be automated.

  • People who are beginner prefers copy trading method as this way they can rely on the expertise of experienced traders.
  • Copy trading could be automated or could be manual. It is much better when it is automated.

If you are a pro-trader, you can offer your service via these social trading platforms and earn a profit when people copying your trades make a profit. The best part; everything is automated and you would be a sort of acting like a hedge fund.

Now there is no end to the number of platforms that offer copy-trading (social trading), but like always I will make your search easier by suggesting only the best copy trading platforms. So buckle up to learn something new and start earning from trading even when you have no prior experience of trading.

Best Crypto Social Trading platforms to use for Profit:

1. eToro Copy Trading feature:

eToro social trading is quite popular among beginners who are looking to start with copy trading feature. eToro deals in various markets including cryptocurrencies and the first thing you need to do is get an account here.

Once you have activated your account, inside your dashboard select “Copy people” and select “Crypto” under the “who invests in” tab. See the below screenshot for a better understanding:

There are various filters to help you find a trader whom you can copy. My recommendation is to look for a trader who is giving consistent returns over a long period, ex: 12 months.

Hovering over any profile would give you more details about the traders, and this is useful to understand the trading style of a specific trader.

You can further click on any profile to see their detailed stats which include performance over time, their existing portfolio. Once you have found the trader you wish to copy, simply click on copy and you would be asked to add the funds.

Do note that there is a feature called “Stop copying” which is similar to “Stop-Loss” feature, and helps you save yourself when things go south.

Once everything checks out, simply move ahead and deposit funds. You can deposit funds on eToro via various methods, including PayPal.

With expected valuations of $10.4 billion, and the company going public soon through a blank-check company, eToro is an ideal choice for any new investor looking to leverage social trading for extra gains.

2. PrimeXBt Covesting:

Covesting is a social trading platform which is not directly integrated with PrimeXBT that is another upcoming exchange. This union helps you to enjoy the power of social trading directly inside PrimeXBT exchange. PrimeXBT also offers a trading terminal as well, that you can use to make trades other than social trades.

Like eToro, PrimeXBT lets you trade Bitcoin, S&P 500, Gold, EURUSD, and 50+ assets. With the Covesting social trading feature, you can choose among best-performing strategies and automatically copy their trading activity to get the same returns. And if you are an experienced trader, you can earn up to 20% of all profits earned by your followers.

Getting started with the PrimeXBT Covesting feature is simple and here is how to go about it:

  • Create an account on PrimeXBT (No KYC required at the time of writing)
  • Fund your account using any of the accepted cryptocurrencies. (USDT, ETH, BTC, USDC, COV). My suggestion is to use BTC, as most of the copy traders are using BTC as a funding mechanism.
  • Select Covesting from the top menu bar, and use filters to find an ideal trader to copy.

You can click on any name to see more stats about their profile. Here you will find all information you need to pick a professional trader, such as performance stats, manager equity (The amount of own money the trader has put in), followers equity, Win ratio, description of the trader, and the profit distribution.

Once you have found a trader that you wish to copy, click on follow and enter the amount you want to start with copy trading.

  • Note: You can use the COV token to reduce the entry fees.
  • Note: Please be informed that following a strategy using the Covesting module involves the risk of capital loss. Following a strategy could result in a partial or complete loss of your funds, therefore, you should not operate with funds you cannot afford to lose.

Overall PrimeXBT Covesting platform is one of the top social trading platforms out there, and something you as a beginner might like to start with.

3. Shrimpy Social Trading:

Shrimpy is an automated tool to manage your portfolio, and also offers a social trading feature that is quite popular. You can automatically copy the top crypto traders using Shrimpy. I have discussed Shrimpy earlier here.

Shrimpy offers both free copy trading and premium copy trading. Premium leader fees are additional fees that are charged for following a leader. Each leader can charge these extra fees for following one of their portfolios. The premium leader fees are charged by Shrimpy on a monthly basis. The two different fees that leaders can charge include “Performance Fees” and “Assets Under Management Fees”.

Shrimpy is available as a subscription model, and the cheapest plan is only $19/month.

What I like about the Shrimpy is the social aspect of it. The leaders here are more open for communication, and many of them do maintain the trading journal which gives more transparency to their trades.

Shrimpy is a cryptocurrency social trading platform, and let you copy trades from top traders on the following exchanges:

and a few more crypto exchanges.

To use the Shrimpy social trading feature, you need to connect your favorite exchange to Shrimpy using the API feature. If you have never done this before, watch the below video to understand how to generate the API key for Binance and then connect to Shrimpy or similar platforms.

Once you have connected your exchange to Shrimpy, head over to the social feature. Filter the leaders based on the Exchange and their performance.

You can click on any of the leaders to see more details about their strategy, performance, allocations, and other vital details that would help you choose the right leader to copy for social trading.

Once you have found a reliable leader to follow, click on follow leader and allocate a portion of fund to start copy trading.

I know a few of CoinSutra readers who are using Shrimpy for social trading, and they are pretty happy about it. However, I found the interface to be not as simpler as what PrimeXBT Covesting offers, but that could be just my point of view.

Conclusion: Best Crypto copy trading platforms

As the cryptocurrency market maturing, we can expect more similar platforms. However, for now, these are the best social trading platforms you could use to copy trades from the top traders.

If you are looking for a single recommendation, I would suggest you to start with PrimeXBT Covesting as it offers some great data and has a proven track record. eToro is also quite popular, which you can explore along with PrimeXBT.

I would keep updating this resource to help you updated with the top platform for social trading, but for now, I have a few questions for you:

  • How’s your experience with Copy trading?
  • What are the pros/cons of social trading?
  • What measures do you take to minimize the risk when copying the trade of others?

And, last but not the least;

  • Which other platforms are you using for social trading?

Does Binance offers social trading feature?

At the time of writing this resource, Binance does not offers the social trading feature. However, they do offer a future leaderboard and it may have this feature enabled soon.

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.

Is Bitcoin Too Dirty For Some Investors?

Bitcoin is being known as “digital gold.” And taking the analogy additional, some individuals paint gold mining and bitcoin mining with the identical brush of being environmentally unfriendly. Except that notion modifications, some observers say, that might hinder the acceptance of the digital foreign money by institutional traders.

The subject of cryptocurrencies consumed chunk of time at a webinar hosted in the present day by Cboe International Markets. It featured three well-known names within the exchange-traded fund business: Cathie Wooden, founder, CEO and chief funding officer of ARK Make investments; Jan van Eck, president and CEO of VanEck Associates Corp.; and Kevin O’Leary, chairman of O’Shares ETF Investments.

Ark Make investments was one of many pioneers in providing bitcoin to traders when it started together with it in a few of its funds in 2015 by way of the Grayscale Bitcoin Belief. At the moment, Wooden mentioned, its value was about $250. (It closed buying and selling in the present day at $52,439.) Jan van Eck has lengthy been a bitcoin bull, and his firm has been making an attempt for numerous years to realize approval from the Securities and Change Fee to launch a bitcoin ETF.

And O’Leary, previously a famous crypto critic however now a believer, provided a number of warnings about bitcoin not flying with some traders—significantly institutional traders—due to its environmental and social impression. Pensions and endowments utilizing his firm’s ETFs as a part of their wealth preservation mandates wish to know the provenance of the cash being mined.

“A brand new drawback I believe lots of people haven’t thought of is whether or not the coin is compliant with [institutional investors’] committees,” O’Leary mentioned, alluding to the truth that bitcoin is manufactured in international locations accused of human rights violations.

“I’m actually talking about China,” he mentioned, including that’s an issue as a result of that’s the nation the place most of it’s mined.

Bitcoin Mining

In easy phrases, bitcoin mining requires highly effective computer systems to resolve cryptographic puzzles, and people who clear up them are rewarded with a sure variety of bitcoins. Bitcoin’s most provide is capped at 21 million cash.

Computer systems engaged in mining are vitality hogs, which critics contend make them environmentally unfriendly—particularly in the event that they’re made in a rustic (like China) powered largely by coal.

However Wooden and Van Eck pointed to analysis exhibiting that crypto mining’s environmental impression is perhaps overstated.

Wooden mentioned one in all Ark Make investments’s analysts did a examine evaluating bitcoin mining to gold mining, and it confirmed the vitality consumption related to bitcoin is a fraction of that for eradicating gold.


Weekly Roundup: BSC DeFi Platform Xend Finance Launches in Africa

Jack Dorsey’s NFT tweet will help the poor in East Africa through an upcoming bitcoin donation. To learn more about this developing story and other news, keep reading.

Jack Dorsey’s NFT Tweet to Help the Poor in East Africa

As the non-fungible token (NFT) craze continues, Jack Dorsey is auctioning his first tweet on Twitter as an NFT. Dorsey posted this tweet on May 6, 2006. The auction is taking place on Valuables and will end on March 21, 2021.

Dorsey has tweeted he will convert the proceeds of this auction to bitcoin and donate them to GiveDirectly. This is a non-profit organization that seeks to end extreme poverty in East Africa. Donations sent to GiveDirectly benefit people in Kenya, Rwanda, and Uganda.

Currently, the highest bidder of this NFT tweet was a Twitter user with the handle @sinaEstavi. He outbid Tron CEO Justin Sun, who had bid $1 million. Estavi bid $2.5 million.

Valuables wrote: “The tweet itself will continue to live on Twitter. What you are purchasing is a digital certificate of the tweet, unique because it has been signed and verified by the creator. Owning any digital content can be a financial investment, hold sentimental value, and create a relationship between collector and creator. Like an autograph on a baseball card, the NFT itself is the creator’s autograph on the content, making it scarce, unique, and valuable.”

Uncertain Regulatory Environment Pushes Crypto Firms Out of South Africa

The uncertain regulatory environment is pushing crypto firms out of South Africa. According to an article on Business Tech, the MTI scam gave regulators in South Africa a jolt and some firms will not wait to see how the matter pans out from a regulatory standpoint.

These crypto firms are planning on moving to Singapore and the UK. That is because Singapore is redrawing legislation to attract crypto firms while the UK is getting requests to embrace cryptocurrencies.

Revix, a crypto investment platform that allows customers to invest in a bundle of cryptocurrencies, is moving its headquarters from Cape Town to the UK. The company is also considering setting up in Germany to scale its operations.

Luno is another crypto company with headquarters in the UK despite being owned by South Africans. The exchange also operates in Singapore.

South African regulators “have been incredibly slow in terms of regulation in the industry and that leads to businesses looking internationally. In an unregulated environment, a customer arrives at our platform with skepticism, and rightfully so,” said Revix CEO Sean Sanders in an interview.

According to Sanders, the uncertainty regarding potential regulation is also making it difficult for crypto firms to market their services on social media platforms thereby limiting growth.

Binance CEO CZ Among the Top Blockchain Billionaires in 2021

Binance CEO, Changpeng Zhao (CZ), is among the top blockchain billionaires in 2021 according to the latest Hurun global list. CZ and 16 other billionaires have cumulative wealth of US$ 77 billion. These billionaires have generated their wealth from running crypto exchanges, investing in cryptocurrencies, and mining crypto.

After facing a price correction in 2018, crypto billionaires are enjoying a boost in their wealth thanks to the recent bull run.

The top five billionaires are Brian Armstrong of Coinbase, Sam Bankman-Fried of FTX, Changpeng Zhao, Chris Larsen, and Jed McCaleb of Ripple. Their net worth is $11.5 billion, $10 billion, $8 billion, $5.1 billion, and $3.2 billion, in that order.