What is the exchange rate of EUR (Euro) / USD (US Dollar) on Sunday October 11, 2020
Get the latest mid-market rate for EUR (Euro) / USD (US Dollar) for Sunday October 11, 2020 right here.
The latest rates for EUR (Euro) / USD (US Dollar) are available below. As a leading finance news site the team at Born2Invest collates and analyses the latest Forex Market data to bring you live information to help you make the right forex trading decisions.
Sunday October 11, 2020 1 EUR (Euro) is worth 1.183085 of USD (US Dollar) .
Remember to always trade with a reputable broker. It’s also possible to apply forex concepts to cryptocurrency trading.
Considering making a trade? Forex is one of the most volatile markets in the world and there are hundreds of currency combinations to choose from. Understanding how the market works is key and we’re here to help you.
Currencies are always traded in pairs. When you buy or sell one currency you automatically buy or sell another. In every currency pair there is a base currency, in this case EUR (Euro) and a quote currency USD (US Dollar).
The price displayed for a currency pair represents the amount of quote currency, or USD (US Dollar) you will need to spend to purchase one unit of the base currency EUR (Euro) In this example that means you need to spend 1.183085 of USD (US Dollar) in order to purchase 1 EUR (Euro).
Forex pairs can be broadly separated into three categories; the majors, the commodity currencies, and the cross currencies:
Cryptocurrencies share many aspects with forex trading, namely the concept of currency pairs and high volatility but there are some key differences. Cryptocurrencies aren’t currencies persae, and are usually traded against Bitcoin, which takes the role of USD on many exchanges.
It is also difficult to trade cryptocurrency outside of exchanges and there is more security risk than trading with a registered broker. One way around this is to use a CFD broker which enable traders to purchase contractors for specific amounts of crypto, without directly owning it.
LINK whales are increasingly accumulating more of the asset off exchanges. According to the crypto data platform Santiment, the amount of LINK held on non-exchange wallet addresses by the top 100 whales has increased by roughly 5% year on year. This has increased the value of LINK held in these addresses from 735.64M a year ago to the current value of 771.15M.
The accumulation of this asset by these top non-exchange whales has seen a steady increase in the last year. This increase preceded the impressive price performance of LINK this year when it surged from under $2 to reach almost $20 in August, a move that may have been triggered by the massive accumulation that is still ongoing.
Chainlink was founded in 2017 and after a successful ICO, has been around since then. It however only came to limelight in 2020 when it jumped from being among the top 30 cryptocurrencies to be among the 10 largest. The asset currently occupies the 7th position among the over 7,000 cryptocurrencies in existence. Santiment says that the 5% increase in accumulation indicates that the whales are confident the cryptocurrency will thrive well in the future.
Chainlink’s Oracle protocol seeks to connect smart contracts with real-life data helping to bring real-life applications to smart contracts. The team recently announced that it is accepting grant applications for the integration of Solana with the protocol. Also in a bid to further develop the network, it has recently launched another grant to support developers with innovative ideas. With such programs in place, LINK may have a brighter future as many analysts have said.
Chainlink like most other top cryptocurrencies was in consolidation for some time before the news of Square’s Bitcoin investment revived the market, increasing the price to over $10. This is the first time the price has gotten to this level since 29 September.
Whether LINK’s price will continue to rise in the short term isn’t known, but analysts believe it can hit $32 by the end of the year.
Author: By TeamMMG
As China trials its Digital Yuan with a giveaway, seven big central banks outline response
China has announced a significant new trial of its digital currency, co-incidentally on the same day influential central banks laid out their plans for a similar effort.
China is creating a digital currency for domestic use, to track transactions as part of its ongoing crackdown in corruption, help with economic planning, and stop alternative payment systems from the likes of Alibaba and Tencent getting too much traction. China has also explicitly laid out a digital currency world domination plan to be the first with a viable digital fiat currency and make it a global force by more-or-less-requiring it to be used by trading partners.
Those plans have been a little slow to take off, but late last week Chinese State media announced that the city of Shenzen would conduct a lottery to give away 10 million Digital Yuan (US$10m) in a lottery. 50,000 winners will each score 2,000 Yuan that can only be used once they use China’s digital wallet application.
Local merchants have such as hotels and even WalMart have reportedly backed the trial.
The trial was announced last Friday, perhaps co-incidentally the same day as the Bank of International Settlements (BIS) revealed that seven central banks had teamed to create their own vision of national digital currencies titled “Central bank digital currencies: foundational principles and core features.”
The joint report was created by The Bank of Canada, European Central Bank, Bank of Japan, Sveriges Riksbank, Swiss National Bank, Bank of England, Board of Governors of the Federal Reserve and the Bank for International Settlements.
The report’s key recommendations for any central bank digital currency (CBDC) are that it have the same value as cash and be exchangeable without an intermediary. It also says that nations need to get cracking on CBDCs, before either an alternative stablecoin – think Facebook-backed Libra – or a cryptocurrency become so widely used that central banks’ useful regulatory functions are sidelined and monetary policy becomes a less useful lever for governments to pull.
The document also points out the contributing banks have a decent idea of how to create a CDBC, but are less confident they can keep one stable. The report also identifies all manner of legal and regulatory challenges that need to be identified before CDBCs are viable, never mind interoperable across borders.
Which is why China’s world domination plan, big test in Shenzen, and stated intention to have the Digital Yuan sufficiently mature for wide use at the 2022 Beijing Winter Olympic Games, all represent such a challenge to the world’s financial systems.
And just to complicate matters further, again perhaps co-incidentally, China over the weekend announced reforms in Shenzen. The city, which in 40 years has grown from around 500,000 inhabitants to become a sprawling megalopolis housing over 20 million, has long been the centrepiece of a special economic zone. China has now decided that local authorities should have more say on the city’s growth, in line with the national plan to implement “socialism with Chinese characteristics.”
That form of socialism may now include use of digital currencies, a form of money that allows its issuer – in this case China’s People’s Bank – to potentially record every transaction. ®
Author: Mon 12 Oct 2020 // 03:58 UTC
🔴 Gemini Exchange Event | Bitcoin | Cameron and Tyler Winklevoss brothers | Finance | 10/10/2020
Official site: https://cutt.ly/sgotOhE
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By the end of this Gemini exchange review, you should be able to decide for yourself if Gemini is the right cryptocurrency exchange for you. You should know about its history, the coins it offers, its pros and cons, and how much it will cost to use the service. You will also know how to register and verify an account at the Gemini crypto exchange.
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Author: by admin