A dogecoin-focused platform has launched to allow peer-to-peer exchanges, or “atomic swaps,” of the resurgent cryptocurrency
In an announcement Wednesday, open-source cryptocurrency and blockchain options supplier Komodo stated its “DogeDEX” went dwell on March 1, and has already seen over 3,000 downloads. The service is powered by the AtomicDEX engine and is obtainable by way of each desktop and cell apps.
Atomic swaps are a manner for customers to immediately trade cryptocurrencies with out want for a 3rd celebration corresponding to a centralized trade.
The DEX additionally acts as a non-custodial pockets permitting customers to retailer their holding on the platform. Komodo stated its engineers are additionally within the strategy of constructing a fiat on-ramp within the subsequent month, so cryptocurrency purchases will be made immediately on DogeDEX.
“Crypto, just like the web, is a lot about neighborhood and dogecoin is the foreign money of the web. Decentralized exchanges and non-custodial wallets are a number of of our specialties and we wish to allow [dogecoin’s] appreciable fanbase to commerce crypto with the very newest know-how – Atomic Swaps,” stated Kadan Stadelmann, CTO at Komodo
NBA group the Dallas Mavericks recently announced it is going to quickly be accepting the meme-based cryptocurrency by way of crypto cost providers supplier BitPay.
DogeDEX will present a brand new manner for followers to obtained maintain of the cryptocurrency, with buying and selling venues not universally supporting the coin.
- Global Crypto Alliance (CALL) Reaches 24-Hour Trading Volume of $8.00
- South Korea to Impose Hefty Fines on Crypto Exchanges for Failing to Comply with AML Rules
- South Korean Regulators To Sanction Errant Exchanges Flouting AML Rules
- HUGE CRYPTO NEWS! ETHEREUM SURGE, UNISWAP ATH SETUP, NFT & DEFI GEMS TO WATCH
- CoinRule Review: Automated Crypto Trading Bots Platform
Global Crypto Alliance (CALL) Reaches 24-Hour Trading Volume of $8.00
Global Crypto Alliance (CURRENCY:CALL) traded 0% higher against the U.S. dollar during the 1 day period ending at 20:00 PM ET on March 10th. Global Crypto Alliance has a market cap of $30,375.32 and $8.00 worth of Global Crypto Alliance was traded on exchanges in the last day. One Global Crypto Alliance token can now be purchased for approximately $0.0004 or 0.00000001 BTC on major cryptocurrency exchanges. During the last week, Global Crypto Alliance has traded up 10% against the U.S. dollar.
Here is how similar cryptocurrencies have performed during the last day:
Global Crypto Alliance Token Profile
Global Crypto Alliance (CALL) is a token. Global Crypto Alliance’s total supply is 777,000,000 tokens and its circulating supply is 78,358,515 tokens. Global Crypto Alliance’s official Twitter account is @gcnews_io and its Facebook page is accessible here. The Reddit community for Global Crypto Alliance is https://reddit.com/r/GlobalCryptoAlliance and the currency’s Github account can be viewed here. Global Crypto Alliance’s official message board is medium.com/global-crypto-alliance. The official website for Global Crypto Alliance is gcalliance.io.
According to CryptoCompare, “GCA is an organization of experienced professionals from around the world with expertise in business development and blockchain ecosystems. GCA was established to support prospective blockchain-based projects while providing sustainment to its native publication platform where it offers all participants in the system a way to benefit from both creating and consuming original content. “
Buying and Selling Global Crypto Alliance
It is usually not currently possible to purchase alternative cryptocurrencies such as Global Crypto Alliance directly using US dollars. Investors seeking to acquire Global Crypto Alliance should first purchase Bitcoin or Ethereum using an exchange that deals in US dollars such as Changelly, GDAX or Coinbase. Investors can then use their newly-acquired Bitcoin or Ethereum to purchase Global Crypto Alliance using one of the exchanges listed above.
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Author: Brian Himes
South Korea to Impose Hefty Fines on Crypto Exchanges for Failing to Comply with AML Rules
South Korea’s financial regulator, the Financial Services Commission (FSC), has announced new possible penalties for cryptocurrency exchanges based or operating in the country if they fail to comply with existing anti-money laundering (AML) rules.
According to the FSC’s statement from earlier today, the newly-announced initiative will affect all virtual asset service providers (VASPs), including digital asset exchanges.
The revision proposal for the supervisory regulation is scheduled to become effective on March 25th, 2021, and it will introduce new penalty standards on such businesses. Per the statement, the revision “simplifies and integrates existing penalty rules and improves rules on penalty abatement to provide relief for small-scale financial enterprises.”
Every virtual asset service provider could become subject to the fines if it violates one of the following three procedures. Namely, those are – failure to report suspicious transaction activities (known as internal control duties), failure to keep relevant data on such transactions (data maintenance duties), and failure to keep separate management of customers’ transaction records.
“The revised regulation also introduces a new penalty abatement of fifty percent. For small-scale entities, penalty abatement can be granted in excess of the fifty percent limit.” – explains the statement.
In another cryptocurrency-related issue that has been ongoing for a few years, South Korea’s congress decided to delay the digital asset income tax last year. The new deadline is set for January 2022.
Just a few days before the FSC declared its intentions, the country’s largest cryptocurrency exchange, Bithumb, banned users accessing its website from countries with no anti-money laundering rules.
The press report noted that there’re 21 such nations currently “on the watchlist for failing to implement anti-money laundering measures issued by the Financial Action Task Force.” The FATF is an intergovernmental body that sets international standards to prevent global money laundering initiatives and the financing of terrorism.
Iran and North Korea were the first two blacklisted countries, while Syria, Pakistan, Yemen, and Botswana were still in the gray area.
“The company will continue improving its system to protect investors and enhancing transparency in the crypto market.” – commented an official from Bithumb.
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South Korean Regulators To Sanction Errant Exchanges Flouting AML Rules
In a bid to curtail anti-money laundering (AML) and Know Your Customer (KYC) violations, financial regulators in South Korea are introducing penalties to regulate cryptocurrency exchanges or virtual assets service providers (VASPs), as they’re known in the country.
This announcement was released by South Korea’s Financial Services Commission (FSC) on Wednesday.
According to a revised proposal for the regulation of crypto exchanges, any organization that fails to take proper extensive data collection and identity verification measures would be subject to heavy fines. This news comes a day after Bithumb toughened up its AML rules. The South Korean exchange placed restrictions on a number of traders from countries that are on the FATF’s monitoring list. The exchange has also signed up multiple third parties to help with the implementation and compliance of AML best practices.
The proposal states the new measures and penalty standards for the industry in detail. Failure of exchanges to report and record suspicious transactions would now result in heavy sanctions.
The fines would l depend on the severity of the violated rules. The fine ranges from 30% to 60% of the legally approved maximum amount. For small-scale businesses, penalty relief of up to 50% or more would be available. The FSC also stated that the service providers are now required to have a dedicated reporter for large transactions as well as provide written work guidelines and employee training.
This revised proposal would be put up for public notice from March 11 down till April 20 after which it would take immediate effect.
The revised bill on the crypto industry was first introduced in November 2019 by the Korean government amid growing concerns about the use of crypto assets in money laundering and other illegal activities.
The bill was reviewed to reflect changes on crypto assets to be more in line with international standards set forth by the Financial Action Task Force (FATF). After which, the National Assembly then passed it on March 5, 2020. The bill further went into another phase of review as additional rules were added to it by the FSC in February 2021.
Meanwhile, this proposal comes in conjunction with the recent amendment of South Korea’s Act on Reporting and Using Specified Financial Transaction Information. The amendment on this act is said to affect March 25. The Act stipulates that crypto exchanges must impose extensive Know Your Customer and Anti-Money Laundering checks, including reporting their customers’ legal names.
It’s safe to say the Korean government seeks to make virtual assets like cryptocurrency, fall under the traditional regulatory system so as to be managed or controlled by financial authorities.
Author: By TeamMMG
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CoinRule Review: Automated Crypto Trading Bots Platform
Cryptocurrency traders can choose from a growing number of efficient, automated trading platforms that aim to simplify the entire process and allow anyone to make the most of their trading opportunities.
Coinrule is an emerging, easy to use automated trading solution aiming to be the “Lego tool-box” for both technical and non-technical traders. The platform opens up a world of new trading possibilities for crypto traders used to dealing with more limited trading interfaces, and Coinrule allows anyone to choose from a number of set strategies which can be back-tested before being deployed.
More experienced traders can construct their own unique strategies, and as a result, traders of all levels can actively engage in the always open crypto market and trade 24/7.
The platform supports popular exchanges including Binance, BitMEX, Coinbase Pro, and Kraken and can be accessed for free by using a Starter account.
Paid subscriptions range from $29.99 to $249.99 per month with the differing account tiers designed to cater to traders of differing experience and activity levels.
Coinrule was founded in March 2018 by current CEO Gabriele Musella, and COO Oleg Giberstein. It was incorporated in the UK and holds the company number 11265766, Coinrule also retains an office at Level 32, 1 Ropemaker St, Citypoint, London EC2 9AW in addition to its registered office address at Fisher Close Flat 6, 2 Fisher Close, London, England, SE16 5AE.
As a result, Coinrule can still be considered as an emerging trading solution and is in the process of developing its community and growing as a cryptocurrency trading solution.
The platform allows anyone to automate their trading in order to maximise their profits or accumulate coins and incorporates standard trading options such as regular market buy and sell orders, as well as stop-loss/take-profit orders, and re-buying orders.
Coinrule can be used from any supported web browser and connects to over 10 leading cryptocurrency exchanges via API key connections with Binance, BitMEX, Bitstamp, Bittrex, Coinbase Pro, Kraken, and Poloniex all being supported.
Anyone signing up is able to take advantage of the free Starter account with a demo exchange feature before deciding whether to opt for one of the paid subscription plans which start from $29.99 per month.
- Functionality – Coinrule operates as a web-based solution and the team have opted for a clean, simplistic design that appeals to traders of all levels. The platform also allows anyone to deploy trading “rules” without needing to know or use any code.
- Technology – The platform works via API integrations with over 10 supported exchanges and the team highlight that all orders are sent to the market with minimum latency time. Orders normally take around 500 Milliseconds to reach the market, and Coinrule also makes use of SMS notifications, and data encryption to enhance its service.
- Range of Tools – The platform incorporates an easy to use, modular rule configuration system which works via simple If/Then prompts. Popular trading strategies such as stop-loss, take profit, and buy the dip/breakout can be used to make the most of contrarian, maximization, and accumulation methods.
- Range of Plans – The service can be used for free by signing up for a Starter account, while the Hobbyist plan costs $29.99 a month. The Pro plan costs $249.99 a month and provides access to 50 live/demo rules, and unlimited template strategies and integrated exchanges.
- Customer Support –The Help Center contains a number of useful guides and resources which are also supplemented by the official blog. The team also tackle common questions in their FAQ section, and can be contacted by live chat, email, or by connecting via Facebook or Twitter.
After submitting your details, you will be sent a verification email which contains the code number you need to enter in order to complete the signup process.
By clicking on the “Add Exchange” tab you can connect to your preferred exchanges via API keys.
When opting for Binance, you will be prompted to enter your API key details along with your secret key information.
From here you need to login to Binance in order to locate your API keys and this information can be found by clicking on “API Management” and then “Create API”.
You can then name the API key and click “Create New Key”, before confirming your 2FA code and completing the key creation process by following all the instructions in the confirmation email. You will then be able to see the API keys, and you should edit your API key restrictions in order to maximize your security settings.
You can now complete the API integration process by returning to the Coinrule Dashboard and entering the required information.
Creating strategies on Coinrule is pretty straightforward and you can get started by clicking on the “Create Rule” tab located at the top right of the Dashboard. You can then create easy to setup trading strategies based on “If/Then” parameters which allow you to quickly get going and take advantage of any market movements.
You first need to select an exchange, define the event (e.g. 15% BTC price decrease), and then enter in your buy/sell order. You can also click on the “Timer” tab to configure how you would like to schedule your trades.
Here, the Demo account displays a market buy order for $2500 worth of BTC to be deployed twice should the price of Bitcoin drop by 15%.
A tab at the top right of the page summarizes the rule’s key conditions, and you can double check everything is in order before clicking the “Launch” tab.
You can also opt for a ready-made strategy from the template library, and when you select your preferred strategy, all the details will be automatically entered into the correct sections, and you can simply adjust the settings in order to configure the strategy exactly as you like.
Here with the “Buy The Dips + Stop Loss/Take Profit” Template, the strategy is automatically setup to make purchases in the event that any coin on your integrated exchange account drops by 10%.
It will also then sell the same coin once it has increased by 5% to take profit, while the stop loss feature will also trigger a sale in the event that the price drops by 3%.
The template has also been configured to automatically start immediately, and execute once a day with a maximum total of 10 executions.
Once again, the tab at the top right of the page summarizes all the key conditions, and you can configure the template as you like, and even add further conditions before clicking the “Launch” tab.
The platform can be used free of charge for an undefined time period, although, the Starter account option is restricted to only 1 Connected Exchange, 2 Demo/Live Rules, and 7 Template Strategies.
The Hobbyist plan costs $29.99 per month (billed as $359 annually) and provides access to 2 Connected Exchanges, 7 Demo/Live Rules, and 30 Template Strategies. Each paid plan also includes access to Advanced Indicators and the Trader Community.
More active traders can also choose from either of the Trader or Pro packages which contain even more features and the Pro package provides access to Unlimited Connected Exchanges, 50 Demo/Live Rules, and Unlimited Template Strategies.
It also allows anyone signing up to take part in one-to-one training sessions, and benefit from an ultra-fast data socket and costs $249.99 a month, billed as $2,999 annually.
Payments are processed by Stripe and you will be required to enter your credit card details to make a one off purchase for one year’s worth of service.
Coinrule currently supports over ten popular cryptocurrency exchanges which can be linked via API integration. These include:
- Binance US
- Bitpanda Pro
- Coinbase Pro
The team declare that each user has their own dedicated private key which has been generated separately, and these private keys are in turn stored on detached data storage which is encrypted with AES-256. Coinrule also only stores encrypted forms of all API keys using 256bit AES encryption, and the team also use data encryption in transit so all communication between their website <-> application backend <-> database/cache nodes is encrypted using TLS 1.2 or higher.
Coinrule also uses Ukey1 as a secure authentication gateway partner, and as a result the team do not store passwords in their database. Ukey1 also encrypts all personal data and passwords are hashed using advanced algorithms, while the website is further secured by using Cloudflare CDN as to protect against DDoS types of attacks.
In addition, the Coinrule team are transparent in nature, and the key information about themselves and their corporate setup has been made publically available. This helps to develop trust, as users can easily identify exactly who is behind the project, which isn’t always the case with crypto projects. The trading platform was also incorporated in the UK, and operates in accordance with the laws of the United Kingdom within the jurisdiction of England and Wales, meaning that users are protected by the extensive financial and commercial laws within the region.
With regards to payments, Coinrule processes your purchases by using Stripe, and transactions are marked as a Merchant-Initiated Transaction (MIT) by Stripe. As a result, all your payment details are confidentially secured, and neither Coinrule nor Stripe actually have access to your financial data. These factors help Coinrule quite a bit as the platform has only been operating since 2018, and if you run into any issues, you can contact the team directly or just speak to your credit card provider to rectify the situation.
As is always the case when using automated trading platforms and/or software, the most solid approaches always involve maximizing your own personal security in order to protect yourself from any attacks or serious issues. Simple measures such as keeping your login/personal information private will go some way to securing your account, while restricting your exchange account API and disabling withdrawals from within your account will protect you from the most serious security breaches.
When using Coinrule, you are not required to transfer any funds over, and the platform doesn’t have direct access to your crypto holdings. This is true for the the majority of trading bots or portfolio management tools as everything is done via an Application Programming Interface (API) which allows Coinrule to interface with its supported exchanges and collect price and account balance data as well as place buy and sell orders.
The team can improve their security by incorporating 2FA authentication and notifying users of account activity via email/SMS. A mobile app will also allow users to keep track of their accounts while on the go, however, the platform is generally quite solid although Coinrule is still developing its online presence as well as trading community.
To be honest, Coinrule is one of the most easy to use automated crypto trading platforms out there. While all trading platforms require some learning and take some time to get used to, Coinrule has been designed with less technical traders in mind, and the clean and simple interface make it easy to keep on top of whatever you are doing.
Rules can be created using “If/Then” parameters which are simple to understand and allow you to quickly get going, while the modular setup allows you to easily make changes and adjustments in order to configure any rule you create or template strategy that you would like to tweak.
The team behind the platform designed it to be a “Lego tool-box” for cryptocurrency trading strategies and automated trading, and rules can be created quickly and back-tested before being launched. As a result, Coinrule should definitely suit less technical traders while still incorporating features that appeal to more technical traders.
These include the ability to intricately create and configure strategies, and readymade templates can be configured to include additional conditions and triggers or to act in a much simpler manner if desired.
The platform also provides access to advanced TA tools and you can set up trading strategies based around RSI or moving averages approaches or follow much broader accumulation, contrarian, or take profit methods. However, the team can expand their service in the future to include more features such as trailing stop losses, additional technical indicators, and a mobile app.
Anyone signing up to a Trader or Pro plan can receive one to one trading lessons, and the team also provide resources which help to explain how to use the platform and how the various aspects of engaging in automated crypto trading.
Coinrule is a somewhat under the radar crypto trading platform which stands out due to its simplicity and ease of use. The “Lego” tool kit ideology has been well implemented as the platform’s clean and simple user interface and modular strategy configuration features make creating, tweaking, and testing strategies a relatively straightforward process for even less experienced traders.
The platform also offers good exchange support and integrates with a range of leading crypto exchanges such as Binance, Coinbase Pro, Kraken, and BitMEX which should appeal to most traders as these exchanges provide good liquidity levels, and a wide range of coins to trade.
However, as easy as it is to use, Coinrule still has room to improve as more advanced users may be interested in deploying a wider range of TA based strategies than the RSI and Moving Averages strategies currently on offer.
Also anyone looking to manually configure their own bots to perform more complex actions may be better served by a more extensive platform, and experienced traders may also be looking to sell their successful strategies, and interact with other users via an internal marketplace, and Coinrule currently doesn’t provide these features.
All in all, Coinrule is an interesting option for anyone looking to quickly get started in the world of automated crypto trading, and the platform is still emerging and developing in terms of it visibility, reputation, and online community.
Anyone who is already active on any of the supported exchanges can always give Coinrule a try in order to improve on the limited trading options many of those exchanges currently offer. As ever, it’s a good idea to try out a free account and get a feel for the platform in order to see if one of the paid subscription plans will suit your particular needs and prove to be beneficial in the long run.
The post CoinRule Review: Automated Crypto Trading Bots Platform appeared first on Blockonomi.
Author: By Harry Gill