Paxful, the peer-to-peer cryptocurrency platform, has announced a significant reduction in transaction fees for gift cards. The company has slashed its fees by 80%, from the industry standard of 5% to just 1%. This has already resulted in a surge in gift card volumes and trader interest according to the company. The fee reduction applies […]
Bitcoin News
US Senator’s Resolution Encourages Capitol Gift Shops to Accept Cryptocurrency
A U.S. lawmaker has introduced a resolution that encourages Capitol gift shops to accept cryptocurrency payments. He stressed that lawmakers “should increase accessibility and signal our support for the burgeoning cryptocurrency industry to those who visit Capitol Hill.”
US Senator Advocates Crypto Payments
U.S. Senator Ted Cruz (R-TX) announced Thursday that he has reintroduced the Adopting Cryptocurrency in Congress as an Exchange of Payment for Transactions (ACCEPT) Resolution. Cruz first introduced this resolution in November 2021. The senator from Texas said:
Cryptocurrency is generating new jobs, encouraging entrepreneurs to invent new values and creating new hedges against inflation, and presenting new opportunities. It is also increasingly being used as a secure form of payment for goods and services.
“This is precisely why we, here at the United States Capitol, should increase accessibility and signal our support for the burgeoning cryptocurrency industry to those who visit Capitol Hill,” he added.
Senator Cruz’ explained that his bill “would require the Architect of the Capitol, the Secretary of the Senate, and the Chief Administrative Officer of the House of Representatives to encourage Capitol gift shops to accept cryptocurrency as a form of payment.” They would also be required “to enter into contracts with vendors who accept cryptocurrency as payment for food service and in vending machines within the Capitol complex.”
Cruz further said:
An added advantage of using cryptocurrency as a form of payment in the Capitol is that it would provide foreign tourists who visit our nation’s capital each year with a safe and secure payment option without the need to pay unnecessary and often costly currency exchange fees.
The lawmaker has long been a pro-bitcoin senator. In May last year, he said he is “incredibly bullish” on bitcoin. “I have a weekly buy that’s an automatic buy every week of bitcoin because I believe in dollar-cost averaging,” he noted at the time.
Senator Cruz also introduced a bill in April last year to prohibit the Federal Reserve from developing a direct-to-consumer central bank digital currency (CBDC) “which could be used as a financial surveillance tool by the federal government, similar to what is currently happening in China,” Cruz noted.
What do you think about Senator Ted Cruz pushing for gift shops on Capitol Hill to accept payments in cryptocurrency? Let us know in the comments section below.
CoinEx Charity|Change the Lives of Poor Children With a Gift
As Brazilians celebrated Easter on April 17, 2022, CoinEx Charity worked with the Brazilian singer Mc Lustosa and launched a charitable event for poor children at Jardim Brasil and Parque Edu Chaves in the north of Sao Paulo, Brazil. During the event, staff members sent chocolate-covered Easter eggs to children in these poor communities and celebrated the festival with them. Having sent over 200 Easter gifts, the event delivered both warmth and care to local poor kids.
Mc Lustosa’s Instagram post
Easter is just like spring: it is a time of rebirth, renewal, and hope. For poor children in this region who live on public assistance, however, toys and snacks available to the average kid are a luxury. Moreover, they can’t even get Easter eggs on such a major occasion as Easter. To help them taste the joy of receiving gifts, CoinEx Charity prepared Easter egg gifts for 500+ children in poor communities in Sao Paulo, Brazil. Seeing the big smiles on the face of children who received the gifts, CoinEx Charity hopes that the event could leave these children with happy memories.
Help the disadvantaged through good deeds
In 2022, CoinEx Charity launched a million charity fund to help children and teenagers in poor areas around the world through charitable actions, ensuring their basic living conditions while giving them equal access to education. Following the principles of benevolence, mutual assistance, happiness, and sharing, CoinEx Charity strives to help more children in need grow up with good health and happy memories.
Since 2021, CoinEx Charity has launched a series of charitable events across the globe. In December 2021, CoinEx Charity visited children in Uniuyo Teaching Hospital and distributed care packages; on December 31, after Typhoon Rai hit the Philippines, CoinEx Charity immediately responded and offered full disaster assistance and a large donation; in February 2022, CoinEx Charity distributed living supplies to poor families in Iran; on February 15, after Brazil was hit by heavy rainstorms, CoinEx Charity immediately participated in local charitable events and made donations to the disaster-stricken areas; this April, upon learning that some poor children in remote areas of Brazil cannot receive the traditional chocolate gifts at Easter, CoinEx Charity prepared over 500 Easter gifts and delivered them to each child in person… In just a few months, CoinEx Charity has left its mark around the world.
Charity never stops
According to the 2021 Global Multidimensional Poverty Index (MPI), about 644 million children worldwide are multidimensionally poor. Many children still suffer from hunger, dropout, and disease in many dark corners around the world. Charity should be pursued through real actions, and efforts of public welfare should never stop. CoinEx Charity suggests that the international community should examine the circumstances facing poor children around the world and join hands to care for them. We can only improve the lives of more poor kids and provide them with a comfortable growth environment by making charitable efforts on a greater scale.
As the global impact of the COVID-19 pandemic gradually expands, the world has witnessed more conflicts, and more actions are urgently needed. Meanwhile, helping poor kids has become a pressing issue. Every child deserves a bright future. Always committed to the principles of charity, CoinEx Charity has called for the prioritization of children’s interests in countries across the globe. We should keep all children out of poverty, defend their rights, and protect their childhood. In the future, CoinEx Charity will launch more charitable events for children globally, encourage the general public to lend a helping hand to children in need, and jointly create a better world for children.
Christmas Gift 2021: $50K BTC After PlanB $100k Miss
Following an epic fail from pseudonymous analyst, PlanB, Bitcoin was trading at ,000 on December 25th, avoiding an unwelcome Christmas Day surprise for BTC bulls.
PlanB Model Fails Bitcoin
PlanB’s model failed many crypto investors who must be looking at their portfolios with disappointment, as the pseudonymous analyst’s 0,000 Bitcoin prediction did not come true on December 25.
BTC/USD maintained ,000 support into the weekend, according to TradingView data, after ranging following local highs above ,500.
As the Christmas season began, the pair remained placid, with thinner liquidity yet to manifest itself in the form of violent price movements.
With most traders and analysts taking a break from trading and analysis, the trillion market cap valuation level at ,000 remained the closest upside objective.
BTC trading at k. Souce: TradingView
PlanB made a point of separating his floor model from the Bitcoin stock-to-flow model. The floor model failed in November and December, according to the analyst, as it did not reach the minimum expected costs of ,000 and 5,000, respectively.
PlanB had previously stated that if Bitcoin did not reach 0k in December, his stock-to-flow model would be invalidated, but he now appears to be changing his mind. Instead, PlanB stated in a recent tweet,
Let me be clear:1) Nov98K & Dec135K miss = FLOOR MODEL FAIL2) Dec100K miss: I have said earlier that if BTC<0K Dec2021, then S2F is “off the rails” “invalidated” “dead”. Tbh that was an ill attempt to clarify “0K average this cycle” & regression analysis. S2F MODEL INTACT pic.twitter.com/LRdfLinTm4
— PlanB (@100trillionUSD) December 24, 2021
PlanB, reportedly stated this summer that if the Bitcoin price did not reach 0,000 in December, he would consider S2F useless.
Related article | Plan B: The Next 6 Months Will Make Or Break Famed Bitcoin Model
Is Next Year PlanB’s Plan B
Following criticism over Twitter statements he claims were misinterpreted, PlanB noted that Bitcoin would continue to follow his model’s projections.
Investors and experts are split. While many investors are debating if the floor model failure marks the end of S2F, Willy Woo, a Bitcoin on-chain analyst, has a different perspective. PlanB’s opinion did not define S2F, according to Woo, because models existed independently of their designers. He wrote on Twitter,
“A model is a model. We can look back on it years from now and know whether it gets invalidated. Certainly not from some arbitrary line in the sand, even if it’s from the creator.”
While a prediction from the recently invalidated floor model of 5,000 this month proved to be unduly optimistic, that figure as an average price for this half cycle remains in play. PlanB has previously stated that models do not have to be perfect in order to work.
Related Reading | Why This U.S. Congressman Compared Bitcoin Investment With Playing The Lottery
New Robinhood Feature Allows Users To Gift Crypto To Family And Friends
Trading app Robinhood has announced a new feature that would allow users to gift cryptocurrencies to their friends and family. This comes as the holiday season is in full bloom and people are scrambling to get the perfect gifts for their family and friends this Christmas. This new feature will allow for the seamless transfer of crypto from one user to another inside the Robinhood app.
Crypto Gifting Made Easy
Robinhood announced via a blog post on Thursday that it was rolling out a new feature on its platform. The gifting feature would allow users to share crypto with their friends and family through the app. The push behind the feature was encouraging holiday shoppers to instead skip the long lines and pressures of last-minute shopping for gifts that end up worthless after the holidays in favor of something that appreciates in value like cryptocurrencies.
Related Reading | Crypto Market Bloodbath Creates Largest Stretch Of Fear Since April Peak
Robinhood has made its name as one of the leading trading apps in the United States, with 22 million users in the country. A large demographic is Millenials who are more likely to gift crypto to their friends and family.
Users can choose from a list of seven cryptocurrencies that they want to gift to family and friends and then send the crypto gift to them inside the app. In addition, users are able to send a unique design and personal message with their crypto gift to make it even more meaningful.
How To Gift With Robinhood
Inside the Robinhood app, users can click the “Gift” button and then choose from a list of seven cryptocurrencies that they want to gift. These include Bitcoin (BTC), Ethereum (ETH), and investor favorite Dogecoin (Doge). Next is to choose the method of delivery for the users. This could either be by text or by email and the recipient will get a link to redeem the gift.
Related Reading | FED’s Powell Doesn’t Think Crypto Risks Financial Stability
Once a crypto gift is sent, the recipient will have a total of 14 days to redeem it. If they are already a Robinhood user, they are able to redeem the gift inside of the app. However, if they are not a user, they will need to sign up to claim the gift. If 14 days elapse and the recipient does not redeem the gift, then the crypto is sent back to the sender at no cost.
Robinhood users can send as little as to their recipient of choice and pay 0% in commission when they do so.
Featured image from 9to5Mac, chart from TradingView.com
NewsBTC
Bitcoin Thanksgiving Gift, Why BTC Heads For Fresh Rally
Bitcoin has been trading on the green side this Thanksgiving morning with a 4.1% profit in the 24-hour chart. Approaching a critical resistance level, BTC’s price stands at ,042 and could see more appreciation in the short if it manages to flip ,000 to support.
BTC trends to the upside in the 4-hour chart. Source: BTCUSD Tradingview
Bitcoin has been rangebound for the past week with low volatility for the most part as the price was rejected close to ,000 on Monday. According to QCP Capital, an institutional investor is most likely responsible for the price action and suppression of any serious momentum on BTC’s price rally attempts.
Related Reading | TA: Bitcoin Breaking This Confluence Resistance Could Spark Recovery
This institutional investor has been increasing selling pressure when Bitcoin attempts to reclaim previous highs, the firm noted. QCP Capital suspects this player or players could be pushing BTC’s price down to place bearish put options on Bitcoin and Ethereum.
In that sense, the general sentiment in the market has taken a dive as NewsBTC reported. Most operators have gone into fear mode but could enter extreme fear if the selling pressure causes Bitcoin to break further down. QCP Capital added:
We are betting that the market will consolidate instead of breaking lower. So we are taking the opportunity to short vols in BTC and ETH as well as take profit on our downside risk reversal position and flip to a topside skew.
As of press time, Bitcoin’s current rally into ,000 seems fairly strong with support in the ,000 to ,500 area. According to the In/Out of the Money Around Price metric, over 3 million addresses bought 2 million BTC on these levels.
#Bitcoin on stable support! @intotheblock's IOMAP shows that more than 3.41M addresses acquired nearly 2M $BTC between ,000 and ,500.
Such a massive demand barrier is more significant than the few supply walls ahead, so #BTC downside potential appears to be capped. pic.twitter.com/uwQOpprsAA
— Ali Martinez (@ali_charts) November 25, 2021
A Great Capitulation Before A New Bitcoin Rally?
Jarvis Labs’ analyst Ben Lilly recently tried to answer the question that seems to be in every trader and investors’ mouth: has the Bitcoin bull-run ended? As seen below, BTC’s price bullish momentum is valid as long as it stays above ,000.
Source: Jarvis Labs via Ben Lilly
In support of the bullish thesis, Jarvis Labs records heavy institutional demand for Bitcoin. Historically when BTC sees these levels of an accumulation from large investors, future price action experiences a strong push to the upside.
Source: Jarvis Labs via Ben Lilly
Conversely, when BTC sees low demand from whales, it suggests a cycle has been reached. Ben Lilly added on the whale accumulation pattern for the past week:
(…) whales are starting to step in. And this change will likely be reflected on the 30-day chart in a couple weeks.
However, Jarvis Labs has been warning about the behavior in the Bitcoin derivatives sector during November. Funding rates across this sector have stayed highly positive and although they have decreased with the recent trend to the downside, they still suggest the market is overheated.
Related Reading | TA: Bitcoin Continues To Struggle, Why BTC Could Dive Below K
Therefore, another retest of the lows and a full market reset seems to still be in the cards. This could be the final sacrifice for Bitcoin to reach a new all-time high in 2021.
Christmas Day Derivatives Expiry Could Deliver The Gift Of Dangerous Bitcoin Volatility
Bitcoin price is still trading within striking distance of ,000, however, momentum could be turning toward the downside after the critical resistance was unable to be broken again. Interestingly, the first-ever cryptocurrency has found itself at a similar price as 2017, and a similar point in December.
The last instance led to a substantial over 60% drop in just weeks, and extreme volatility kicked in around Christmastime. This Christmas, crypto Santa could be once again bringing the gift of wild Bitcoin volatility, and potentially, lower prices, thanks to the holiday coinciding with a massive derivatives contract expiry.
Remembering December 2017: Comparing Crypto Price Action And Sentiment Then Versus Now
Rewind to three years from this date. Bitcoin price had just touched ,200, then suffered a sharp correction taking it back to ,500. Finding support there, gave the cryptocurrency the momentum to reach its now-former all-time high of just under ,000.
Three years have since passed, and after taking out ,500, Bitcoin is back trading above ,200 and was potentially stopped shy of ,000 again. Both times market participants were clamoring for 0K BTC and higher.
Looking back at the cryptocurrency's price action three years ago | Source: BTCUSD on TradingView.com
And while the participants themselves this time are very different this time around, creating different dynamics that are undeniably more bullish for the cryptocurrency now, because it remains a speculative asset with unrivaled historical volatility, ruling out repeat scenarios where selloffs become frightening fast, is just plain foolish.
Related Reading | Bitcoin “Double Top” Narrative Builds, Factors To Potentially Fear
Resistance above ,000 is strong, and the cryptocurrency hasn’t had a decent correction since its retest of ,000. A full ,000 trading range is now unaccounted for and untested as resistance turned support.
Of course, as past bull markets have shown, once the cryptocurrency revisits highs, it doesn’t often come back down for a breather. But something big and decisive is potentially brewing, and it could be coming on Christmas day.
QCP Analysis 9.12
1/ Going into this month/quarter/year-end expiry on 25 Dec we can expect to see some volatility, considering the magnitude of this quarter’s rally as well as the expected record open interest for all derivative markets across the board in both options & futures pic.twitter.com/rRn5ztuRoz
— QCP Capital (@QCPCapital) December 9, 2020
A Big Move In Bitcoin Could Be Coming This Christmas
As children across the globe wake up to check their stockings or look under the Christmas tree, Bitcoin investors could find themselves distracted due to shocking intraday volatility.
Derivatives contracts often expire at the close of each month on the final Friday. Quarterly and year-end closes are also of great importance. Due to the fact that the crypto market never sleeps, and the holiday just so happening to fall on a Friday this December, it coincides with an expiry of epic proportions.
Related Reading | “Cyclical Nature Of Bitcoin” Could Provide Clues On Continuation Or Correction
Derivatives contracts like futures and options have an expiration date, in crypto, the stock market, and elsewhere. When these contracts are up, buyers and sellers are out in droves resulting in surges in intraday volatility in the days leading up to, during, or post expiry.
With the Q4 rally so substantial in terms of ROI, the quarterly contracts are especially noteworthy. Q4 2020 performed well but was an order of magnitude less profitable than Q4 2017 as the asset’s bull market ran dry.
The same levels could once again play and important role in future price action | Source: BTCUSD on TradingView.com
Following the peak, the price of Bitcoin pulled back ,000 in a single week, eventually falling from just under ,000 to under ,000 less than two full months later.
What will this Christmas bring to the cryptocurrency market?
Featured image from Deposit Photos, Charts from TradingView.com
Buy Gift Cards With Bitcoins or Altcoins With Coinsbee
Platform Name: Coinsbee
URL: https://www.coinsbee.com/
Company: TSMH GmbH
Location: Stuttgart, Germany
Founded: 2019
Supported Languages: English, German, Russian, Spanish, French, and Chinese
Supported Cryptocurrencies: over 50 leading cryptos including BTC, ETH, LTC, XRP, TRX, BCH, NANO, DAI, XLM and GNT
Social Media
Facebook: https://www.facebook.com/Coinsbeecom-2042415356068276/
Twitter: https://twitter.com/coinsbee
Reddit: https://www.reddit.com/user/coinsbee_com/
What is Coinsbee?
Coinsbee is an online service that allows users to purchase digital gift cards and recharge vouchers for use on major online platforms and service providers with cryptocurrencies. Open for users across the globe, Coinsbee offers an easy way to pay for a variety of goods and services with digital money. The multilingual platform, with a user-friendly interface and support for more than 50 leading cryptocurrencies ensures that everyone, irrespective of which part of the globe they live in can realize the full potential of cryptocurrencies with relative ease.
Since its inception in September 2019, Coinsbee has exhibited strong growth in less than a year’s time. In fact, the platform sold more than 20,000 products within a few months of launch.
Things to Buy on Coinsbee
With a diverse range of vouchers listed on the platform, the products can be broadly categorized into four distinct categories – eCommerce, Games, Payment Cards, and Mobile Phone Credit. In order to purchase any of these vouchers, all one has to do is browse through the platform, choose the product they wish to purchase, enter contact information, and make payment using any of the supported cryptocurrencies.
Once the crypto transaction is processed, users will receive the digital voucher code on their email which can be redeemed on the platform for which they are bought.
eCommerce | Games | Payment Cards | Mobile Phone Credits |
Amazon | Steam | MasterCard | Vodafone |
iTunes | Xbox Live | Visa | Orange |
eBay | PlayStation Store | Amex | Airtel |
Microsoft | Nintendo | PayPal | Verizon |
Spotify | Google Play | Skrill | T-Mobile |
Uber, etc | Twitch etc. | UnionPay, etc. | O2 etc. |
The number of products listed on the above table is just a tip of the iceberg as the list contains over 500 cellular providers, over 24 e-commerce platforms, more than 20 game cards, and 32+ payment card solutions.
While the platform is open for users from across the world, some of the products may be region-specific. Users should verify to ensure that they are purchasing the right product before placing the order.
Registration and Support
The sign-up process on Coinsbee is simple and straight forward. Users will have to just enter their full name, email id, date of birth, postal address, and set a password. Once registered, they will be able to log in at any time, manage their orders and access their purchase history. All the data supplied to the platform are encrypted for secure storage, to be used exclusively to comply with legal regulations. However, it is not compulsory for users to create an account or provide identifiable personal information unless the per day transaction value crosses EUR 1000. There is an overall total limit per email address capped at EUR 15000 for a transaction without verification. The limits can be extended up by completing different KYC steps. These limits are entirely removed for accounts with complete KYC verification.
The platform also has a good customer support system in place where users can submit a support ticket with their queries. Once the ticket is raised, the platform addresses the issues within 24 hours.
Conclusion
Coinsbee is an easy to use platform on which a wide range of e-commerce, gaming, and mobile recharge vouchers can be purchased with various cryptocurrencies. All purchases made on the platform are instantly delivered to a given email address or mobile phone (in case of mobile credits), making purchases using crypto much simpler than using fiat currencies.
Bitcoin and Gift Cards Are Powering a Million Dollar Remittance Market in Africa
How Nigerias .5 Million Plan B Is Taking ShapenThe post Bitcoin and Gift Cards Are Powering a Million Dollar Remittance Market in Africa appeared first on Bitcoin Magazine.n
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A $10 Billion Christmas Gift for Crypto as Rally Continues
FOMO Moments
Crypto markets rallying once again; Ethereum, XRP and NEO leading the way.
The Santa crypto rally has continued for the day before Christmas. The minor pullback on Saturday was just that, minor, and things have moved upwards again as cryptocurrencies make further gains from their lowest levels of the year. Total market capitalization is back over 0 billion once again.
Bitcoin held support at ,000 after a brief period just below it on Saturday. It spent most of yesterday at the same level but has continued to climb this Monday morning to reach an intraday high of ,270 a few hours ago. BTC is currently up 5% on the day to ,240 and poised to make further gains.
Ethereum has had a rare spurt of action and has shot up 16% on the day taking it to around 0. Since its lowest point of the year, just over a week ago, ETH has made a 75% recovery. It has closed the gap a little on XRP but that too has had a strong day with a similar gain taking it to .43.
The top ten is all green at the time of writing. Best performing cryptocurrencies after XRP and ETH are EOS, Litecoin and Tron all adding 10% on the day. Tether has slipped from forth to ninth with its static market cap as the others make a recovering.
Gains are even greater in the top twenty with Neo running away with things at 17% gains. Cardano is also making a strong upward movement at the moment with 13% added. Binance Coin and Ethereum Classic are both up around 9%, the rest 5-6 percent.
PIVX is getting the fomo treatment and is the top performing altcoin in the top one hundred at the time of writing with a surge of 50% on the day. Qtum is also up over 20% right now. There are no major losers at the moment but DigixDAO is back down 5% as all others are gaining.
Total market capitalization has climbed for the seventh day in a row. It is currently at 4 billion, up 7.5% from the same time yesterday as billion was pumped into crypto overnight. Daily trade volume is up to almost billion which is also a very bullish sign. The Santa rally is not over yet but there is still a very long way to go in crypto land.
FOMO Moments is a section that takes a daily look at the top 20 cryptocurrencies during the current trading session and analyses the best-performing ones, looking for trends and possible fundamentals.
The post A Billion Christmas Gift for Crypto as Rally Continues appeared first on NewsBTC.