Today, multi asset investment platform eToro announces its plans to participate in the highly anticipated Spark airdrop, making it the first major exchange to lend its support to the Flare project. eToro’s global network of 16 million registered users will have access to the new smart contracts token.
Spark is the native token of the Flare network, a new blockchain protocol that enables the use of smart contracts for existing crypto tokens that do not natively have them. This will start with XRP, which could open the network up to decentralised finance applications.
Doron Rosenblum, Vice President of Business Solutions at eToro said, “We are very proud to have such a large XRP community across the eToro crypto ecosystem. Decentralised Finance is becoming increasingly popular among investors, but many struggle to find ways of tapping into this world in a safe and regulated way.
“Our mission at eToro is to open up financial markets for more people and participating in the Spark airdrop demonstrates our commitment to the continued development of the Ripple network.”
A snapshot is due to take place on December 12 2020 of people holding XRP tokens across multiple exchanges in order to decide how many spark tokens these investors are entitled to. People holding XRP on either the eToro investment platform or on eToroX – eToro’s professional crypto exchange – will be included in the snapshot and therefore eligible to receive spark tokens. Distribution of spark token is currently set for March 2021, according to Flare network.
Hugo Philion, Flare CEO commented, “We are delighted that eToro plans to support the Spark airdrop. The platform is known for having a world class set of crypto investors so its support of Flare and our native spark token is an important development in the project.”
Dr. Omri Ross, eToro chief blockchain scientist added, “We are excited to add support for Spark on behalf of eToro’s XRP community once their blockchain is released. As smart contacts provide the basis for developing decentralised applications, we think that the possibility of engaging our XRP community with such tools is an exciting development for the XRP ecosystem as a whole and eToro customers in particular.”
About eToro group
eToro was founded in 2007 with the vision of opening up the global markets so that everyone can trade and invest in a simple and transparent way. The eToro platform enables people to invest in the assets they want, from stocks and commodities to cryptoassets. We are a global community of more than 16 million registered users who share their investment strategies; and anyone can follow the approaches of those who have been the most successful. Due to the simplicity of the platform users can easily buy, hold and sell assets, monitor their portfolio in real time, and transact whenever they want.
As technology has evolved, so has our business. In 2018 we launched our professional crypto exchange eToroX, together with the eToro Wallet. Together with the investment platform, eToro provides a holistic service for buying, selling and holding cryptoassets. We believe that leveraging blockchain technology will enable us to become the first truly global service provider allowing everyone to trade, invest and save.
eToro is regulated in Europe by the Cyprus Securities and Exchange Commission, regulated by the Financial Conduct Authority in the UK and by the Australian Securities and Investments Commission in Australia.
eToroX is incorporated in Gibraltar with company number 116348 and its registered office is at 57/63 Line Wall Road, Gibraltar. Its distributed ledger technology (DLT) provider licence was granted by the Gibraltar Financial Services Commission in December 2018 (licence number FSC1333B).
Author: By support on Sunday, November 1st, 2020 |
SushiSwap Price Tops $0.60 on Major Exchanges (SUSHI)
SushiSwap (CURRENCY:SUSHI) traded down 2.4% against the dollar during the 1 day period ending at 10:00 AM Eastern on November 1st. One SushiSwap token can currently be purchased for approximately $0.60 or 0.00004364 BTC on cryptocurrency exchanges. In the last seven days, SushiSwap has traded 5.3% lower against the dollar. SushiSwap has a total market capitalization of $86.42 million and approximately $15.21 million worth of SushiSwap was traded on exchanges in the last day.
Here’s how similar cryptocurrencies have performed in the last day:
SUSHI is a token. It was first traded on August 30th, 2020. SushiSwap’s total supply is 143,400,926 tokens. SushiSwap’s official website is sushiswap.org. SushiSwap’s official Twitter account is @SushiSwap.
Buying and Selling SushiSwap
SushiSwap can be traded on the following cryptocurrency exchanges: . It is usually not currently possible to purchase alternative cryptocurrencies such as SushiSwap directly using US dollars. Investors seeking to trade SushiSwap should first purchase Bitcoin or Ethereum using an exchange that deals in US dollars such as Changelly, GDAX or Gemini. Investors can then use their newly-acquired Bitcoin or Ethereum to purchase SushiSwap using one of the exchanges listed above.
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Author: Elaine Iseri
Iran’s New Crypto Law Requires Miners to Sell Bitcoin Directly to Central Bank to Fund Imports
Iran has reportedly revised the country’s cryptocurrency regulation to require licensed bitcoin miners to sell their coins directly to the central bank for use to fund imports.
The Iranian government has amended its cryptocurrency regulation to enable the country’s central bank to fund imports with bitcoin legally mined in the country, the government-controlled IRNA news agency reported on Saturday. Iranian publication Financial Tribune conveyed:
The measure proposed by the Central Bank of Iran [CBI] and the Ministry of Energy requires licensed cryptominers to sell the coins they mine directly to the CBI.
“The Ministry of Energy is tasked with defining a ceiling for output of authorized crypto units subject to the energy consumed by each unit. Miners’ output should not exceed the ceiling,” the publication added, noting that the central bank will soon announce details of the new law.
Mostafa Rajabi Mashhadi, deputy head of Iran’s Power Generation, Distribution, and Transmission Company (Tavanir) and the spokesperson for the power industry, confirmed that “These cryptocurrencies can be exchanged according to the regulations set by the central bank,” Mehr news agency quoted him as saying.
Presstv, an Iranian state-owned news and documentary network affiliated with the Islamic Republic of Iran Broadcasting (IRIB), explained: “The miners are supposed to supply the original cryptocurrency directly and within the authorized limit to the channels introduced by the CBI … The legal cap for the amount of cryptocurrency for each miner would be determined by the level of the subsidized energy used for mining and based on instructions published by the Ministry of the Energy.”
Cryptocurrency analyst Alireza Shamkhi told ISNA news agency that the new law is vague and ambiguous. For example, it does not state how the central bank will price cryptocurrencies or the exchange rate between dollars and rials. Previously, miners could exchange their cryptocurrencies for dollars, rials, or other currencies at market prices. He added that the requirement for miners to report their output to the central bank is not seen in other industries, concluding that the new law will likely reduce the industry’s attractiveness and significantly lower miners’ profit margin.
Iran has issued over 1,000 licenses to crypto miners, including one to the Turkish bitcoin mining giant Iminer. Power plants in Iran are allowed to mine cryptocurrencies and bitcoin miners have been granted exclusive access to electricity generated from three of them. Meanwhile, over a thousand illegal bitcoin miners have been shut down.
What do you think about Iran’s new cryptocurrency mining law? Let us know in the comments section below.
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.
Author: News Bureau
Megacoin (MEC) Price Hits $0.0069 on Exchanges
Megacoin (CURRENCY:MEC) traded down 3.5% against the U.S. dollar during the one day period ending at 15:00 PM Eastern on November 1st. One Megacoin coin can currently be purchased for approximately $0.0069 or 0.00000050 BTC on popular cryptocurrency exchanges including Cryptopia and CoinExchange. During the last week, Megacoin has traded 4% higher against the U.S. dollar. Megacoin has a market capitalization of $270,864.30 and $7.00 worth of Megacoin was traded on exchanges in the last day.
Here’s how similar cryptocurrencies have performed during the last day:
Megacoin Coin Profile
MEC is a proof-of-work (PoW) coin that uses the Scrypt hashing algorithm. Its launch date was May 29th, 2013. Megacoin’s total supply is 39,233,911 coins. Megacoin’s official website is www.megacoin.eu. Megacoin’s official message board is megacointalk.org. Megacoin’s official Twitter account is @mega_coin and its Facebook page is accessible here. The Reddit community for Megacoin is /r/megacoin and the currency’s Github account can be viewed here.
Buying and Selling Megacoin
Megacoin can be purchased on these cryptocurrency exchanges: Cryptopia and CoinExchange. It is usually not possible to buy alternative cryptocurrencies such as Megacoin directly using U.S. dollars. Investors seeking to trade Megacoin should first buy Ethereum or Bitcoin using an exchange that deals in U.S. dollars such as Gemini, GDAX or Coinbase. Investors can then use their newly-acquired Ethereum or Bitcoin to buy Megacoin using one of the exchanges listed above.
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Author: Mark James