Indian Crypto Miner

Binance, the world’s largest crypto exchange by daily trading volume, enabled credit card payments on its platform to allow users to purchase Bitcoin and other major crypto assets using Visa and Mastercard. The integration of credit card payments into the Binance trading platform comes after Binance CEO Changpeng Zhao (CZ) emphasized the importance of fiat on-ramps in increasing the mainstream adoption of cryptocurrencies. WHY CREDIT CARD PAYMENTS ARE CRUCIAL ON BINANCE Earlier this month, in an interview with Boxmining at the Binance Blockchain Week conference in Singapore, CZ said that it is important to strengthen the infrastructure that supports fiat-to-crypto trades. Most of the money, especially in traditional markets, remain in fiat. For the long-term growth of crypto, CZ explained that more fiat on-ramps will have to be introduced to expose cryptocurrencies as an asset class to a wide range of investors. Following the successful launch of Binance Jersey, a fiat-to

The Indian state of Telangana looks primed as a blockchain technology forerunner in the subcontinent. On July 26, 2018, state officials signed MoUs with various blockchain startups and consultants to augment the use of the burgeoning technology in administrative services. Bringing Transparency to State Administration As  reported  by  Business Standard , Telangana’s I.T. and Industries head Jayesh Ranjan noted the implementation of blockchain technology in “six or seven” government applications. Earlier, the state had piloted blockchain-based land registry and pension platforms to bring transparency and mitigate fraud in the two middlemen-dominated businesses. Rajan revealed migrating to blockchain-based platforms helps omit the opacity of governmental sectors by assisting citizens in tracking sensitive information and pinpointing the progress of essential applications. However, Rajan did not name any area of implementation yet, rendering any presumptions as mere speculati

Supply and demand is the most important determinant of cryptocurrency prices. This is a basic economic principle. If a cryptocurrency has a high token supply with little demand from traders and users, then the cryptocurrency’s value will drop. Conversely, if the supply of a particular cryptocurrency is limited and the demand is high, then the value of the coin will increase. This is linked to the scarcity element that drives up prices and is one of the factors that saw the price of Bitcoin climb to its highest levels. The supply of Bitcoin is capped at 21 million BTC — which is relatively low compared to other tokens — while the demand has soared in recent years. The media or public sentiment also has a big influence over the price of cryptocurrencies. If a token or platform gets some negative publicity, you would generally see the price of that coin take a dip. While, if the same coin were to get high profile support and good media coverage, the price would almost certainly

The cryptocurrency market is still considered very new and, beyond hearing the term “cryptocurrency,” most people are still very much unfamiliar with the industry. Nascent markets have a number of qualities that make them inherently volatile. Limited liquidity exists within the market if you compare it to more established markets like traditional economies, including the foreign exchange market. To put it into perspective, the total value of all the money in the world is more than $90 trillion, while the total cryptocurrency market cap is hovering around $250 billion — a 36,000 percent difference. Daily cryptocurrency trading volumes are around the $14 billion mark, while daily forex trades are closer to $5 trillion. The spread — the difference between the buy and sell price — on foreign currency trades will be a few pennies at the most, while spreads on cryptocurrency trades can be as high as a few dollars. All this points to a very thin market that naturally moves very qu

1. How do cryptocurrency prices compare to fiat currencies? Neither is backed by a commodity like gold or anything with an underlying value. The biggest difference between cryptocurrency values and fiat money is that fiat currencies are backed by central governments and declared as legal tender. Its value is basically derived from the fact that the central government has stated that it has value and two parties in a transaction put their trust in that value. Most countries today operate in a fiat currency system, where central banks and monetary reserves control the supply of money and, as such, indirectly control inflation. Cryptocurrencies, on the other hand, are not controlled by a central government or authority, and most regions do not accept them as legal tender. Cryptocurrencies will also generally have a fixed supply and, therefore, the devaluation of cryptocurrencies through inflation is mostly nonexistent. Other than that, both fiat and cryptocurrency values ar

The cryptocurrency ecosystem in India may have just found a lifeline, albeit an unlikely one. According to a legal report released in July 2018, the country’s lawmakers are considering legalizing the multi-million dollar sports betting industry – naming cryptocurrencies as a legally acceptable payment method akin to credit and debit cards. India Explores Cryptocurrencies in Sports Betting Titled “ Legal Framework: Gambling and Sports Betting including Cricket in India ,” the  report  explores the usage of digital payment mechanisms, including crypto currencies, as the country prepares to legalize the sports betting sector. The report stems after police investigations into million-dollar betting allegations during the popular Indian Premier League (IPL) cricket matches revealed fan-favorite celebrities and politicians used “black money” for placing their bets, superseding the government’s widespread, yet ineffective, crackdown on betting circles. After observing this falla