Get the current mid-market rate for EUR (Euro) / GBP (British Pound Sterling) for Thursday July 23, 2020 right here.
The latest rates for EUR (Euro) / GBP (British Pound Sterling) 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 best forex trading decisions every day.
Thursday July 23, 2020 1 EUR (Euro) is 0.910383 of GBP (British Pound Sterling) .
Remember to always trade using a reputable broker. It’s also possible to apply many 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 GBP (British Pound Sterling).
The price displayed for a currency pair represents the amount of quote currency, or GBP (British Pound Sterling) you will need to spend to purchase one unit of the base currency EUR (Euro) In this example that means you need to spend 0.910383 of GBP (British Pound Sterling) in order to purchase 1 EUR (Euro).
Forex pairs can be grouped into three main 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.
Winklevoss’ Gemini to Offer Custody of .Crypto Blockchain Domains
Unstoppable Domains, a major blockchain domain provider, is hitting another milestone as Winklevoss brothers’ Gemini exchange now offers custody for its “.crypto” domains.
Starting from July 23, users can store their “.crypto” addresses obtained through Unstoppable Domains with Gemini Custody — a tool that is designed to store crypto assets in a regulated, secure and compliant manner.
Registrars of traditional DNS domains are being targeted as top customers of the new service. Providers like 101domain and EnCirca will be the first resellers of the new product, Unstoppable Domains’ co-founder Brad Kam told Cointelegraph.
By using Gemini’s custody services, the registrars will purportedly be able to protect their blockchain assets. “They have traditional companies that don’t want to store their own domains,” Kam added.
Introduced by Unstoppable Domains in October 2019, a “.crypto” domain is a domain registry based on the Ethereum blockchain. The registry allows users to connect any crypto address to their domain, enabling domain payments and uncensorable websites. Blockchain domains represent non-fungible tokens, or NFTs, built on Ethereum and stored on a user’s wallet.
According to Kam, Gemini is the first exchange to provide this storage to NFTs in general. “This is great for companies that don’t want to store their own keys,” the executive noted. Kam elaborated that, alongside Gemini’s custody opportunity, .crypto domains can deploy hardware wallets like Ledger for secure storage. “Lots of people use Ledgers for this currently,” the exec said.
Backed by major blockchain investor Tim Draper, Unstoppable Domains has registered over 200,000 domains to date, including domains like Kyber.crypto, Switcheo.crypto, myetherwallet.crypto, and meltemdemirors.crypto.
The domain name industry is actively deploying blockchain technology to develop the decentralized web. On July 21, major domain registry Verisign acquired a blockchain patent that is designed to turn traditional domains into a “blockchain user address,” allowing them to interact with other participants on the network. Previously, popular browser Opera became the first major browser to integrate the .crypto domain extension.
Crypto Usage and Trading Surging in Africa, Exchange CEO Says
Crypto usage and trading has made its way over to Africa, gaining prevalence all over the continent, according to Chris Maurice, CEO of Yellow Card — a crypto exchange based in Lagos, Nigeria.
“In terms of the crypto scene and everything, things are growing very rapidly, really across the continent, but specifically in Nigeria, South Africa, Ghana, and Kenya,” Maurice told Cointelegraph in an interview.
With the four mentioned countries leading the crypto charge, Maurice added, “At this point, it’s just a matter of time before it continues to expand outward to the rest of the continent.”
Contrary to North America, with its plethora of exchanges, Africa sees more over-the-counter, or OTC, crypto trading, transactions and usage, making definite exchange volume a less accurate representation of the asset class’ prevalence.
“The majority of it is not running through formal exchanges,” Maurice said of crypto asset volume. “It’s running through either WhatsApp, or Telegram, or informal OTC,” he mentioned, noting a few examples of other crypto usage avenues seen across the continent.
“The actual volume in Africa, I would estimate that it’s at least five to eight times higher than any actual volume number that you can find, just based on the amount of money that moves through these dark pools, essentially, through these Telegram and WhatsApp groups.”
“I’ve heard estimates that Nigeria and South Africa are both in the top five in terms of crypto users per capita,” Maurice said. “I’ve seen estimates as high as 10% of people in South Africa own, or have at some point owned Bitcoin,” he added. Recent Cointelegraph reporting confirms high crypto ownership and usage numbers across the region.
Pulling on his experience with the Yellow Card exchange, as well as his involvement with crypto participation across the continent, Maurice noted the data as logical. “In Nigeria and South Africa especially, it’s very unique in that pretty much anyone you talk to has at least some base level of understanding of Bitcoin,” he said, comparing the scene to that of the United States.
Crypto usage poses a logical option for people of the region, Maurice explained. As a global digital asset run by the people away from government control, Bitcoin holds potential for fast transactions and self-sovereign money storage.
Maurice explained Bitcoin’s aspects as attractive to people in Africa, given difficulties associated with accessing similar, more traditional options. He also mentioned crypto as an alternate source of income for residents of the continent.
African residents began gaining interest in crypto roughly between 2014 and 2015, with the industry seeing major public traction by 2017, Maurice said.
A massive year for the cryptocurrency industry, 2017 also yielded crypto-related media headlines from Asia, North America and Europe. The industry took its place in the mainstream spotlight as Bitcoin rose dramatically in price amid speculation and hype. The whole global movement facilitated education around the industry, Maurice said.
“Everybody that I’ve met in Africa is very resourceful,” he explained. “When they see an opportunity like that, they’re interested — they want to learn more.”
As a global asset class by nature, crypto has grown substantially since Bitcoin’s 2009 launch, presenting itself as a solution to a number of problems, ranging from an inflation solution in Venezuela, to a financial asset class in North America.
Author: by elexonic
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