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11 Million Bitcoin Holders Can Earn Interest Following Cred Partnership with Bitcoin.com

11 Million Bitcoin Holders Can Earn Interest Following Cred Partnership with Bitcoin.com

One of the world’s most popular bitcoin wallets has been boosted by an integration with lending platform Cred. The partnership with Bitcoin.com Wallet, which boasts 11 million downloads, means that BTC and BCH holders can earn a passive income through lending out their assets. Moreover, they can claim the interest payments they receive in a range of digital currencies, including stablecoins. The integration between the crypto finance platform and Bitcoin.com arrives at a time when interest in cryptocurrency lending is at an all-time high.

A Cred spokesperson told Insider Monkey: “Cred’s partnership with Bitcoin.com proves that Bitcoin innovation doesn’t have to occur at the protocol level. By building lending capabilities directly into the Bitcoin.com Wallet, we’ve provided a way for BTC and BCH holders to earn an attractive ROI, while operating within a familiar and secure environment.”

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In the traditional financial world, credit is controlled by agencies such as Equifax (NYSE:EFX) and Experian (LON:EXPN), whose scoring system determines who’s eligible for a loan and who isn’t. In the world of cryptocurrency, things work a little differently. Due to the design of crypto assets and blockchain, tokens can be pledged as collateral and used to obtain fiat currency loans. They can also be loaned to borrowers via platforms such as Cred, earning the lender a fixed fee for the duration of the loan.

The integration of lending directly into Bitcoin.com Wallet enables bitcoiners to start earning yield on their holdings directly within the iOS and Android app. “At Bitcoin.com, we strive to offer our customers with the top-tier blockchain services,” explained the company’s Head of Product, Corbin Fraser. “Through Cred, our customers will continue benefiting from earning interest on their crypto via a secure and licensed financial services platform.”

Bitcoin.com is a news site, wallet service, mining pool, and cryptocurrency hub for supporters of Bitcoin (BTC) and Bitcoin Cash (BCH). Its Executive Chairman and former CEO, Roger Ver, remains one of the most controversial figures in the industry, although he has taken a step back from the limelight, and is now content to advocate his favored strain of bitcoin – Bitcoin Cash – from afar. The Bitcoin.com Wallet has proven to be one of the company’s most successful products to date, adding new features such as the ability to buy bitcoin with credit card, and now a lending portal administered with the support of Cred.

Decentralized exchanges (DEXs) and centralized exchanges (CEXs) have been engaged in a fierce battle for market share this year, with the growth in decentralized finance generating huge volume on Uniswap and Mooniswap. A similar battle is being fought between centralized lending platforms – including exchanges – and defi platforms to offer the highest APR. Cryptocurrency holders have found themselves jumping from platform to platform, chasing down the greatest yield.

Cred has built its crypto lending business through integrating with leading wallets including Bitcoin.com Wallet, Huobi Wallet, and Edge. Cryptocurrency holders – or hodlers – have no desire to sell their assets in the near future. Lending provides them with a means to grow their holdings without participating in the high risk game of trading. 

Disclosure: None.

Source: finance.yahoo.com

Author: Insider Monkey Staff


Law Firm Sees Crypto Investors Flocking to St. Kitts & Nevis for Dual Citizenship

Law Firm Sees Crypto Investors Flocking to St. Kitts & Nevis for Dual Citizenship

This week news.Bitcoin.com spoke with Jennifer Harding Marlin from the St. Kitts & Nevis islands law firm JH Marlin. The business specializes in all types of law practice and citizenship by Investment (immigration) is very popular. Marlin explained that recently, the company is getting “a lot of clients in the crypto space that are looking to obtain second passports.”

During the last few months, the whole world has been shaken by the Covid-19 outbreak and this has caused citizens to seek alternatives in certain careers, education, and even citizenship.

News.Bitcoin.com recently spoke with an expert when it comes to second-citizenship when we discussed the subject with JH Marlin’s Jennifer Harding Marlin. She recently told our newsdesk that crypto investors, in particular, have been looking to obtain a second passport.

News.Bitcoin.com has covered the many reasons to why crypto investors would want to obtain second-citizenship or consider renunciation. Marlin told us that with social uncertainty, economic distress, and political tension worldwide, people are on the move toward getting out of big nation-states entirely or leveraging dual citizenship.

“The law firm has been operating for three years and we’ve been getting an increasing number of citizenship by investment applicants who are really big into cryptocurrencies,” Marlin said.

The St. Kitts attorney is originally from Canada and moved to the Federation of St. Kitts & Nevis in 2014, as her law firm specializes in citizenship by investment and corporate law. St. Kitts & Nevis is the most popular destination worldwide to obtain dual citizenship and citizenship by investment has been in operation since 1984.

“It is the longest-running citizenship by investment operation in the world,” Marlin highlighted. She also said that the program price has dropped for a family of four from $195,000 to $150,000 until December 2020.

“A lot of crypto investors have become clients and they are based in much larger countries like the United States,” the attorney explained. “They are interested in getting a second passport for either a plan B or they are eventually going to want to renounce their U.S. citizenship. Or just have dual citizenship capabilities and then one day they may or may not renounce. Right now in the U.S., they have limited visa-free travel and a lot of countries are prohibiting U.S. passport holders too.”

Marlin further emphasized:

Obtaining a second passport by citizenship by investment gives people a way to have access to visa-free travel. With the St. Kitts & Nevis passport you have visa-free travel to over 140 countries.

Marlin detailed that some people choose to renounce their citizenship so they can no longer be subjected to certain taxes.

“In St. Kitts & Nevis there’s no such thing as personal income tax,” Marlin said. “As well as no gift and inheritance tax, so there are tax advantages. There are also tax benefits depending on which country the person comes from. For example, I am Canadian and I am a non-resident Canadian, I don’t have to pay taxes in Canada— I have to pay taxes where I reside.”

“So there’s an option to purchase government-approved designated real estate, for someone who wants to invest by citizenship by investment which starts at $200,000,” Marlin continued.

“The real estate needs to be maintained for seven years or there’s the option for real estate at $400,00 for a minimum of five years. The most popular option, however, is through donation to the sustainable growth fund. That’s because it’s often quicker and people don’t have to maintain real estate property,” she added.

Marlin revealed that a great number of individuals who are choosing to leverage dual citizenship stem from nation-states like the U.S. and Hong Kong.

Marlin said she thinks the current trend of crypto investors stems from individuals who follow people like Bitcoin.com’s Roger Ver and other digital currency advocates who have second passports.

She also said that the trend probably comes from the fact that St. Kitts & Nevis is a freer country than most.

“Some people in the crypto space don’t have access to visa-free travel,” Marlin stressed. “So by acquiring a second passport they can have more access to visa-free.”

Marlin said the first thing people should do is get comfortable with their motivation. “Once you are a citizen you are a citizen for life, and you never have to visit the country,” she concluded.

The process can take up to six months and Marlin said that if someone is interested in dual citizenship they should be prepared to have a vast assortment of documents ready.

Check out the variety of articles hosted on nomadcapitalist.com that explain the process of dual citizenship in great detail.

What do you think about our conversation with Jennifer Harding Marlin? Let us know what you think about this subject in the comments section below.

Bitcoin, citizenship by investment, COVID-19, crypto, Crypto investors, Cryptocurrency, Donation, Dual Citizenship, interview, Jennifer Harding Marlin, JH Marlin, law firm, renunciation, St. Kitts & Nevis, visa-free travel

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

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Source: www.bitcoindoorway.com

by admin

Law Firm Sees Crypto Investors Flocking to St. Kitts & Nevis for Dual Citizenship

VETBTC: VeChain Looks to Gain on Bitcoin

On May 5th, I wrote about Bitcoin (BTC) for the first time on this blog.

I had been buying the cryptocurrencies for a few weeks, as I shared with DPA members in early April when Bitcoin was trading near $7,000.

VeChain (VET) is another cryptocurrency I started buying back in June.

I first wrote about it on June 26th.

Since those posts in May and June, Bitcoin is up just over 30%, while VeChain is up more than 100%.

Both BTC and VET have been going through some consolidation lately, which is no surprise given their recent gains.

However, VET continues to look strong relative to BTC.

The latest pullback was aggressive, but it also completed a near-perfect 50% retracement following the rally that started in late May.

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Now it’s time to see if VET can carve a higher low against BTC.

If it can and buyers clear the 175 satoshis (sats) on a daily closing basis, that could trigger a push higher into 200 and perhaps 230 sats.

A satoshi or “sat” for short is the smallest unit of Bitcoin at just one hundred millionth of a single bitcoin (0.00000001 BTC).

A retest of the wedge top at 230 sats would be a gain of approximately 50% from today’s price, so this is one to watch.

I like the idea of a much higher VETBTC over the next two years as the current cyclical bull market in cryptos continues to unfold.

Disclaimer: I hold a position in Bitcoin and VeChain.

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Source: news.clicxads.com

Author: AdminNews


Covid-19 Economy Fuels Faith in Crypto: Trust In Bitcoin Over Banks Increased 3X Since 2017

Covid-19 Economy Fuels Faith in Crypto: Trust In Bitcoin Over Banks Increased 3X Since 2017

Covid-19 Economy Fuels Faith in Crypto: Trust In Bitcoin Over Banks Increased 3X Since 2017

The market research organization, The Tokenist, recently published a report called “Comparing Public Bitcoin Adoption Rates in 2020 vs 2017.” The study’s findings give a comprehensive look at the cryptocurrency ecosystem between 2017 and now. The researchers’ survey shows that since the post-Covid-19 economy is setting in, trust in bitcoin has grown 29% in the past three years.

A recently published study from the crypto think tank, The Tokenist, details that there is a growing trust in bitcoin over traditional investments like gold, stocks, and real estate. The market researchers leveraged a survey that was taken in April 2020 (5,421 participants in 24 countries) and collated several surveys from 2017 as well. The Tokenist utilized these polls to see how attitudes and perceptions have changed since the price fluctuations and the impact of Covid-19.

“Faith in large financial institutions has been steadily waning for more than a decade and the COVID-19 pandemic has only accelerated this process,” the report highlights. “Bitcoin, itself developed in the years after the 2008 market crash as an alternative to traditional assets, stands to be a major beneficiary of this trend.”

Covid-19 Economy Fuels Faith in Crypto: Trust In Bitcoin Over Banks Increased 3X Since 2017

The Tokenist also leveraged surveys from the company’s mailing list and another that saw 4,852 participants in 17 countries. According to the study’s findings, The Tokenist researchers have found that there is a trend of individuals with “positive sentiment regarding BTC as a long term store of value.”

Covid-19 Economy Fuels Faith in Crypto: Trust In Bitcoin Over Banks Increased 3X Since 2017

The findings note that over 45% of respondents preferred Bitcoin rather than stocks, real estate, and gold, and “61% of the total respondents (and 78% of millennials) are now somewhat familiar with BTC, and 14% of millennials have owned the asset.” The report continued:

47% of respondents trust Bitcoin over big banks, an increase of 29% in the past three years. 43% of respondents, and 59% of millennials, feel that most people will be using Bitcoin within the next decade. In 2020, 44% of millennials report that they are likely to buy BTC in the next five years. More than one in three millennials would hold onto Bitcoin they are given, while a slightly smaller number (27%) would immediately sell it. 39% of male millennials now have no problem with the intangible nature of BTC, and a quarter of millennials as a whole report the same attitude.

Covid-19 Economy Fuels Faith in Crypto: Trust In Bitcoin Over Banks Increased 3X Since 2017

The report finds that the attitude toward BTC, in general, is more positive and optimism has increased by 27% during the last three years. “60% of respondents felt that Bitcoin is a positive innovation in financial technology,” The Tokenist’s report concludes. “Increased familiarity with Bitcoin has convinced many that it is a positive force,” the paper’s authors added.

What do you think about The Tokenist’s researchers’ surveys and findings? Let us know in the comments below.

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2008 market crash, 2017, 2020, banks, big banks, Bitcoin, Bitcoin Asset, BTC, Coronavirus, COVID-19, Cryptocurrency, Digital Assets, financial incumbent, Millennials, Poll, report, Research, respondents, store of value, Survey, The Tokenist

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

Source: news.bitcoin.com

Author: News by Jamie Redman


11 Million Bitcoin Holders Can Earn Interest Following Cred Partnership with Bitcoin.com


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