Argentina’s Ripio Acquires Second-Largest Crypto Exchange in Brazil
Argentina’s Ripio has acquired BitcoinTrade, the second-largest crypto exchange in Brazil, in a bid to increase its footprint across the frothy Latin American crypto market.
Ripio (formerly called BitPagos) ended 2020 on a high, crossing the 1 million user milestone. Earlier last year, the firm began looking in earnest for a good fit in Brazil and decided on BitcoinTrade, said Ripio CEO and co-founder Sebastian Serrano. The financial terms of the deal were not revealed.
“Brazil has always been a very important market for us,” Serrano said in an interview. “BitcoinTrade has a very good reputation in the market, very good processes and compliance. It also has a very meaningful user base – about 300,000 users in Brazil – and very good volumes on the exchange.”
Serrano also pointed to BitcoinTrade’s well-established banking relationships in Brazil, which includes accounts with Santander, Banco Itaú and Banco do Brasil.
Brazil has the largest GDP in Latin America and seems to be a highly desirable virgin territory among South American and Central American crypto exchanges. Last month, Mexico City-based crypto exchange Bitso raised a $62 million funding round, a chunk of which was earmarked for a Brazil push, the company said.
“We have a very good relationship with Bitso,” said Serrano. “Bitso and ourselves are the two really well-funded companies with access to venture capital. There are no companies in that position in Brazil. But really I think the opportunity is about growing the entire Latin America market.”
BitcoinTrade founder Carlos Andre Montenegro will be stepping down from day-to-day duties of running an exchange to focus on running his family office. His role will be taken by Bernardo Teixeira, BitcoinTrade’s current CFO.
“We’re very excited and confident that Ripio is the best choice to help extend the path we’ve built with BitcoinTrade in Brazil,” Montenegro said in a statement.
Why I’m Buying Cardano ADA and Binance BNB + Big Crypto News!
Another amazing day in the Cryptocurrency space! With Ethereum (ETH) now passing $1,000, many are wondering what’s the next best altcoins for highest profit potential? In this video, we discuss what altcoins I’m buying and some major crypto news.
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Author: by admin
Why Your 2021 Resolution Should Be to Buy More Crypto Stocks
Cryptocurrencies are booming as we turn the calendar over into 2021. Three of the four largest cryptocurrency tokens posted massive gains last year, driving the industry’s total market value to $860 billion on January 4, according to data from Coinmarketcap.com. The once-reviled asset class is gaining respect and interest from governments and financial giants around the world.
If you haven’t added a handful of leading cryptocurrency names to your portfolio yet, this would be a great time to dip your toes into the waters of crypto tokens such as bitcoin and Ethereum. At the very least, you should absolutely become familiar with the cryptocurrency market. And you can do it all without buying any of the tokens.
Let me show you a couple of different paths you can take toward entering the cryptocurrency market, with just a quick stop on Wall Street. How spicy do you want your crypto investments?
Some tickers with close ties to the cryptocurrency industry left the actual crypto tokens in the dust last year. Next to the incredible gains in Bit Digital (NASDAQ:BTBT), Riot Blockchain (NASDAQ:RIOT), and Marathon Patent Group, bitcoin’s 308% return looks like a forgettable rounding error:
Bitcoin Price data by YCharts
These companies are direct bets on the machinery behind the scenes.
These companies may be able to outgrow the bitcoin and Ethereum tokens by adding more mining capacity and optimizing their networks along the way. The potential for long-term growth here is absolutely stupendous, assuming that the companies play their cards right.
That being said, mining specialists also magnify the potential risks for investors. The market caps of these three stocks have passed the $500 million mark and Riot Blockchain sits a stone’s throw away from the billion-dollar mark. They are not yet profitable and their annual top-line revenues range from Marathon’s $2 million to $13 million for Bit Digital.
There is room for fabulous growth here, assuming that cryptocurrency prices continue to rise. The stocks are also valued for absolute perfection. Another sharp correction in bitcoin and Litecoin prices could be catastrophic for these companies. Rising energy prices would also hamper their climb toward positive bottom-line profits, and each company’s strategic decisions along the way could hamper or help them in the long run.
So this bucket of cryptocurrency miners is not for the faint of heart. If you’re reaching for any of these tickers today, make sure that you can accept a total loss in case things don’t work out. A small investment in these speculative tickers makes more sense.
Image source: Getty Images.
A small number of publicly traded companies have decided to reinvest some or all of their cash reserves in bitcoin tokens. The largest and most vocal member of this group is business intelligence company MicroStrategy (NASDAQ:MSTR), according to Bitcoin Treasuries. MicroStrategy’s entire cash reserves has been converted into bitcoin. The company held 70,470 bitcoin tokens as of December 21, purchased for a total price of $1.13 billion and valued at $2.17 billion today.
“The Company continues to believe bitcoin will provide the opportunity for better returns and preserve the value of our capital over time compared to holding cash,” said MicroStrategy CFO Phong Le in a recent press release.
Digital payments expert Square (NYSE:SQ) invested $50 million in bitcoin tokens in October. “We believe cryptocurrencies are an instrument of economic empowerment and aligns with the company’s purpose,” Square said in its third-quarter earnings report. That investment has nearly tripled to $144 million.
It’s a small portion of Square’s total cash equivalents, which stood at $2.9 billion at the end of September. The company may very well boost its bitcoin investment over time, based on management’s assessment of the risk/reward situation. At the same time, bitcoin transactions in Square’s Cash App payment system accounted for 54% of Square’s total revenues in the third quarter. This company treats bitcoin as a promising vehicle for value storage, and as an efficient tool for managing e-commerce transactions.
Square and MicroStrategy are safer bets on the cryptocurrency market than the miners above, and arguably safer than simply buying bitcoin. Both companies have substantial business assets and operations with no direct ties to the crypto market, which could come in handy if bitcoin prices come back down again.
Image source: Getty Images.
You will actually find good cryptocurrency investments in every corner of the traditional finance market. Every bank, payment processor, and fintech company worth its salt is weighing its cryptocurrency strategy right now, and many of them have already taken action.
Credit card giant MasterCard (NYSE:MA) filed for dozens of blockchain and cryptocurrency patents in recent years. Keep an eye out for these management comments, because they will help you separate the innovators from the imitators.
“We are the leading payment player when it comes to patents around crypto,” MasterCard president Michael Miebach said in the company’s third-quarter earnings call. “Once you have a central bank digital currency, it’s going to make a difference to the consumers. And so how do you actually spend it? So the link into an acceptance network is critical. So we hold some patents in that space that link these transactions right back into our network where it can be used. And this is how we can bring value, and it brings value to us.”
MasterCard is an established titan of financial services with a massive market cap and a global business reach, and it’s hard to find a lower-risk investment than that. And the company is putting in the work to make the most of the exploding cryptocurrency market, rather than resting on its laurels while other companies pass it by in the fast lane.
In early November, fellow Fool Dan Caplinger said that bitcoin’s defining moment was at hand — a make-or-break tipping point that would clarify whether the cryptocurrency is headed for great gains or a terrible crash. Bitcoin prices have doubled since then. My crystal ball is in for repairs but the crypto market does look healthy.
The stocks above can help you get started with cryptocurrency investments, even if you’re not yet ready to trade the cryptocurrency tokens themselves. Pick your level of risk tolerance, make your New Year’s resolution, and get ready to make some money in crypto stocks.
Author: Anders Bylund
Is Using Airdrops The Only Way To Join Crypto World?
Crypto has buzzed the entire world in the last decade. The crypto space is never affected by the price fluctuations due to the famous evolution of airdrops. Nonetheless, there are multiple methods available with which the bitcoin sector would never get deprived of people.
It does not mean that the entire crypto world is dependent on airdrops. Instead, the airdrops just enhance that world. But, the method of reward giving in the case of the Chinese e-yuan became quite successful. China has created its digital money and people seem to be using it extensively.
By description, an airdrop is a means for the adoption of people in the crypto world. It is a method of distribution where the creators send free coins to the wallets o many crypto users. It has become an efficient method of disbursing crypto and creating awareness among many users within a short time.
Airdrops are mainly used for the promotion of virtual currencies. That is the reason why creators send them free so that people become aware that they exist. By using the free coins people get comfortable with them and then decide to use these in the future as well. Normally, the free coins are sent in return for small services like retweeting a post that is sent by the company.
There are multiple sites or forums on which airdrops are promoted. The tokens or coins are sent to the current holders of wallets in the cryptocurrency world. The recipient is supposed to have some minimum coins in the wallet or should perform various tasks. These tasks may include writing blog posts about the crypto, posting tweets, and connecting with a member of the blockchain project.
Bitcoin, the first crypto was launched in 2009. Bitcoin being the flagship crypto gaining massive success within time. During this period, many other cryptos have come up and more enhanced blockchains have been established. People began to trade with many other platforms that enabled them to earn millions within a short time.
Furthermore, with many other advancements, airdrops have been a great innovation as well. The oldest airdrops in history were aurora coin which was launched for Iceland’s citizens. From that time, the term airdrop has started floating.
After that scheme in 2014, many others adopted the same distribution strategy and began sending free coins. Airdrops have become quite famous that even some of the projects that were kicked off earlier started supplying the free coin to also promote their currencies.
Airdrops have proven to be an excellent strategy for increasing the value of the involved currency. In most cases, they are the primary cause of uplifting the crypto world. Whenever these free tokens are sent to real users who go-ahead to use them, their value automatically increases.
Additionally, the adverts on social media make the coins flood every platform increasing the rate of adoption. In that way, more eyes see the project. That has managed to increase the market value helping new projects rise high. Nonetheless, it is quite crucial to look and keenly follow instructions to avoid scams. The fraudsters normally trap the investors but keeping vigilance can keep these projects safe.
Airdrops are easily found on various online resources. There are many sites for airdrops currently. You can easily find the hottest airdrops on these sites. Also, there are categories for them. You may also find Twitter airdrops, exclusive airdrops, and also those with telegram channels. Profitable search engines give users profitable earnings.
Users can easily choose an airdrop and claim it by following the instructions provided. Many enthusiasts browse the internet daily to know something about the upcoming free tokens.
The creators of the airdrop come up with a list to send free coins, and if a user is lucky enough, they make it to the list of selected recipients.