[BlackRock Bitcoin](https://www.reuters.com/business/finance/blackrock-close-filing-bitcoin-etf-coindesk-2023-06-15/) exchange-traded fund (ETF) trended on all investment newswires in June after BlackRock, the biggest asset manager worldwide, filed for an [ETF](/news/article/chamber-of-digital-commerce) backed by BTC, the largest digital asset by market capitalization.  

The move for a Blackrock Bitcoin ETF was made by the investment firm to give clients exposure to the flagship coin. 

The company disclosed that [Coinbase Custody](https://www.coinbase.com/custody/assets), a New York-based business that provides cold-storage services for the digital assets of third parties, will serve as custodian for its iShares Bitcoin Trust, details of its filing with the US SEC (Securities and Exchange Commission) showed.  

While this has been seen as a great move by a large investment company, the SEC has shown resistance when it comes to the approval of spot BTC ETFs.  

## BlackRock Bitcoin ETF: What is it? 

To understand this what the Blackrock Bitcoin ETF is, you should know what ETF means. According to [Investopedia](https://www.investopedia.com/terms/e/etf.asp), ETF is a kind of investment security pool that operates similarly to a mutual fund. It tracks commodities, particular sectors, indexes, and other assets like cryptocurrencies. 

It differs from mutual funds because it can be bought and sold on a stock exchange in the same way as the regular stocks of Mastercard, Visa Inc., and other major corporations with ticker symbols on the London Stock Exchange (LSE), New York Stock Exchange (NYSE), and others.  

SPDR S&P 500 ETF is the first exchange-traded fund, and it continues to track the S&P 500 Index. 

With this in mind, what BlackRock has applied for is a spot BTC ETF. This would track the underlying market price of the first blockchain-backed digital currency.  

Analysts at [Forbes Advisor ](https://www.forbes.com/advisor/investing/cryptocurrency/best-bitcoin-etfs/)believe this product will expose investors to the coin without becoming crypto asset holders.   

## BlackRock Bitcoin ETF is not the first being considered by the SEC  

As of July 2023, the SEC has not approved any ETFs that directly own [BTC](/news/article/bitcoin-rally-sees-gain-this-week). Instead, existing Bitcoin ETFs only hold futures contracts or other ETFs and stocks of companies that have direct exposure to Satoshi Nakamoto’s innovation.  

In 2022, [Grayscale Investment LLC](https://techcrunch.com/2022/06/30/the-sec-rejected-bitcoin-spot-etfs-again-now-what/), the largest digital asset management firm, saw its request to convert its Grayscale Bitcoin Trust into an ETF rejected by the SEC. 

Angered by the decision, [Grayscale sued](https://www.cnbc.com/2022/06/30/grayscale-sues-sec-after-rejected-bid-to-turn-bitcoin-fund-into-etf.html) because the regulatory body had already approved BTC futures ETFs, as earlier highlighted. 

Aside from Grayscale, CBOE Global Markets, New York Digital Investments Group (NYDIG), and Fidelity have also had their spot BTC ETFs rejected by the apex regulatory institution in the USA. 

## Impact of the filing on the coin  

In crypto, there are three major price drivers; the triggering of a staking feature that helps investors earn passive income, the listing of a virtual asset on a major exchange, and the acceptance of a coin as a transactional currency by a mainstream company.  

Ordinarily, due to the SEC's rejection of other companies’ attempts, a filing of an exchange-traded fund related to the most popular cryptocurrency should have been discarded by millions of traders across the globe.  

After trading below $30,000 for two months, the asset rebounded strongly from $25,576.28 on 16 June and tested a then-high of $31,460.05 on 6 July. 

As of 21:00 on 13 July 2023, it was exchanging hands for $31,484.21, a 23% rise in less than one month, data from crypto price tracker CoinMarketCap showed.  

Such bullishness is the reason why analyst [Richard Adrian ](https://www.fxleaders.com/forecasts/crypto/bitcoin-price-forecast/)at FX Leaders foresees a substantial rise in the price of the crypto.  

According to him, the digital currency could reach the maximum price of $85,000 due to positive market sentiment, hawkish central bank decisions, and mainstream adoption of the decentralized finance sector by the year's close. 

## The latest on spot Bitcoin ETFs globally 

On 13 July 2023, multiple news outlets reported that London-based multi-asset investment platform [Jacobi Asset Management ](https://cointelegraph.com/news/bitcoin-etf-europe-s-first-spot-bitcoin-etf-eyes-2023-debut-after-a-year-long-delay)would launch the first spot BTC ETF in Europe before the close of the year. 

This announcement comes exactly a year after it was scheduled to premiere on the Euronext exchange in Amsterdam in July 2022.  

The asset manager said it chose to launch its product in the fall due to improved demand for [crypto assets](/news/article/crypto-watch-guide).  

Since security has become an integral issue in this sector due to the billions of pounds worth of stolen digital assets, Jacobi has chosen Fidelity Digital Assets as the custodian.  

## Conclusion 

The SEC may not grant exchange-traded funds related to the spot market due to the agency's consistent consideration of many of the assets, including [BTC](/coins/btc), being securities in disguise. 

Whatever happens, [BlackRock](/news/article/blackrock-etf) has created an impressive base on which other potential applicants can thrive to see this hurdle through.  

That said, [Ripple](https://www.cnbc.com/2023/07/13/xrp-surges-after-judge-delivers-a-huge-win-to-ripple-in-its-case-against-the-sec.html) has won its two and half year case against the agency. This could be a turning point in the type of products it could approve for trading in the future. 

Blackrock Bitcoin ETFs: The Latest

Bitcoin Bank has become popular among cryptocurrency traders, offering a hands-free trading experience with its advanced features and market analysis tools. 

In this article, you will find an exploration of what it is, how it works, its pros and cons, and provide insight into its legitimacy. 

## What is Bitcoin Bank? 

Bitcoin Bank is a leading cryptocurrency trading platform that uses machine learning (ML) enabled tools to analyse market trends and predict price movements. 

The platform operates 24/7, providing users with real-time market data and technical analysis patterns to facilitate informed trading decisions. With its automated trading functionality, the platform executes trades on behalf of investors according to their predefined settings, making the trading process more convenient and potentially profitable. 

Despite the platform's claims, it is essential for investors to conduct thorough due diligence before engaging with this crypto trading option. While it promises a hands-free trading experience, evaluating the accuracy and reliability of its ML-enabled tools is crucial. 

## Who created the platform? 

There is no information available about the founders on the official website. This lack of transparency raises some concerns. 

It is worth noting that third-party sources claim the involvement of high-ranking investors, although these claims lack substantial evidence. Therefore, potential users should exercise caution and carefully assess the platform's credibility before engaging. 

## Pros and cons of Bitcoin Bank 

Compared with competitors, this platform offers several advantages and disadvantages for traders to consider: 

### Pros 

- Hands-free trading without manual intervention. 

- User-friendly interface with 24/7 availability. 

- No deposit and withdrawal fees. 

- Claims to have a 99% success rate. 

- Provides 24/7 customer support. 

### Cons 

- Requires a minimum deposit of $250. 

- Lack of information about the founders. 

While the platform offers appealing features, the high minimum deposit requirement and the lack of transparency regarding the its founders may deter some potential investors. Conducting thorough research and considering the associated risks are essential before making any investment decisions. 

## How does Bitcoin Bank work? 

The platform utilises advanced trading techniques and ML-enabled tools to analyse market conditions and generate trading suggestions. 

The platform's interface resembles other popular crypto trading platforms, providing users with a familiar and intuitive experience. While specific details about its internal workings are not extensively disclosed on the website, it is recommended that potential users explore the platform's features and conduct independent research to fully understand its functionality. 

As this is an unregulated platform, users are required to exercise caution and understand the potential risks involved in crypto trading. While it claims a 99% success rate, market volatility remains a significant factor that could impact trading outcomes. 

## Features of the platform 

This crypto option offers notable features designed to enhance the trading experience. These include: 

### Affordable Platform 

The site asserts that it does not charge fees for trading activities and does not take commissions from investors' profits. However, users should consider that partner brokers may charge for services such as account management. 

### Demo Account 

The platform provides a demo account option to familiarise traders with the its mechanics before engaging in live trading. The demo account offers a risk-free environment for users to practice and understand the platform's features. It is important to note that access to the demo account requires an initial deposit of $250. 

### Supported Cryptocurrencies 

The platform supports various major cryptocurrencies, including Bitcoin, [Bitcoin Cash](/news/article/buy-bitcoin-cash-uk), [ZCash](https://z.cash/), Ethereum, [Ethereum Classic](https://ethereumclassic.org/), [Binance Coin](/news/article/trading-bnb-to-gbp), and more. 

This broad selection allows users to diversify their portfolios and mitigate risks associated with single cryptocurrency investments. 

## Is this platform legit or a scam? 

The platform's legitimacy remains a subject of concern due to the lack of transparency regarding its founders and the limited concrete evidence supporting its success rate claims. 

While no definitive proof is classifying it as a scam, potential users should exercise caution and perform thorough research before investing significant funds in the platform. 

## Getting started 

To start using the platform, follow these steps: 

Create an Account: Visit the official website and complete the registration process by providing your email, full name, and phone number. Once initiated, the support team will reach out to provide further guidance and information. 

Deposit Funds: Deposit a minimum of $250 into your Bitcoin Bank account to initiate trading. The platform offers multiple payment options for convenience. 

Start Trading: After funding your account, the platform's internal mechanics will scan the markets and provide trading suggestions. It is recommended to utilise the demo account first to familiarise yourself with the platform. Bitcoin Bank allows users to withdraw funds at any time by logging in, accessing the official account, and clicking the "Withdraw" button. The platform states that it may take up to 24 hours to process withdrawal requests. 

Users should consider potential risks associated with cryptocurrency trading and the unregulated nature of the industry. It is advisable to withdraw funds before deleting your Bitcoin Bank account, as account deletion also removes any associated funds. 

## Conclusion 

In conclusion, Bitcoin Bank offers a hands-free trading platform with advanced features and ML-enabled tools. 

However, potential users should exercise caution, conduct thorough research, and understand the risks involved in cryptocurrency trading. By doing so, users are better able to make informed decisions about their investments. 

Bitcoin bank logo on yellow image of bitcoins

Understanding Bitcoin Bank

Swyftx is an Australian-based cryptocurrency exchange and leading trading platform founded in 2019 by Alex Harper and Angus Goldman. 

The platform allows users to buy, sell, swap, and trade hundreds of crypto in a simplified and transparent way. 

## Pros and cons 

### Pros 

- Beginner friendly. 

- Supports over 300 cryptocurrencies. 

- Low fees. 

- Supports multiple payment methods. 

### Cons 

- Best suited for Australians. 

- Lacks advanced trading options. 

## Features 

Several [features](https://swyftx.com/features/) enable the Swyftx platform to stand out. They include: 

### User-friendly 

Swyftx is designed to meet the needs of beginners, intermediate, and advanced investors. Its web and mobile applications are super easy to use. It also features a quick sign-up and verification process. 

### Learn section 

The section has enough materials to educate new and experienced traders on the art of trading. Available information ranges from blockchain technology and [decentralized finance (DeFi) ](/news/article/what-is-a-defi-token)to crypto investment strategies. 

### Staking 

Swyftx users also benefit from [staking](/news/article/what-is-staking-crypto). The service, introduced in 2021, allows users to earn interest on their coins by simply holding them in their accounts. Rewards are awarded in the same coins as the ones staked. 

### Coin swap 

The feature, available for advanced traders, allows them to trade any cryptocurrency in their portfolio for another on their list. Coin swap transactions are, however, a bit pricey on the fee side. 

### Demo account 

The account allows users to trade crypto risk-free with demo funds that can be used to test key features of the exchange. The demo funds can be used to buy, sell, and trade the currencies listed on the exchange. 

Other notable Swyftx features include portfolio tracking, recurring orders, tax reporting, real-time pricing, automatic buys and sells, crypto bundles, and a self-managed super fund. 

## Team 

The platform is backed by an impressive team of expert individuals. Alex Harper is its CEO and one of its co-founders. Angus Goldman is the CTO and another of its co-founder. 

The platform’s senior leadership also includes Jason Titman, the Chief Operating Officer, Adam Percy, General Counsel, and Jusse Nunes, the Chief Financial Officer. Other team members include Ben Browne, Head of IT and cyber defense, Brooke White, head of design, and Gabby Lewis, Fraud manager. 

## Fees 

Opening a user account on the Swyftx platform is free. There are also no charges for maintaining an account. There are no [fees](https://swyftx.com/fees/) on AUD (fiat) deposits and withdrawals. The standard network mining fees are charged on crypto deposits and withdrawals. There is a 0.6% flat trading fee. 

## Customer support 

The exchange provides one of the best customer support services in the Australian cryptocurrency market. Users and customers can contact customer support via email, live chat, and phone. 

Swyftx customer support responds promptly. Live chat and phone requests get solved within 2 to 3 minutes, while email requests take a maximum of one business day for a response. Live chat is available 24/7. 

## Mobile app 

Swyftx has a mobile app available for Android and iOS devices. The app is as easy to use as its web version. Also, everything on the website is available on the mobile app. Users can easily buy, sell, trade, deposit, withdraw, and even use the demo account from the convenience of their phones. 

## Is Swyftx safe? 

Considering how unsafe the crypto space is, there are many reasons to be wary of crypto projects. However, there are many reasons to be okay with using this exchange. 

Firstly, it is highly secure. It’s considered the second most secure exchange in Australia after CoinSpot. It is ISO 27001 certified for information security and has a stringent Anti-Money Laundering (AML) and Know Your Customer (KYC) process that protects customers from fraud. 

Its security features include data encryption, two-factor authentication, penetration testing, biometric authentication, and least privilege and breached password detection. As a plus, its security team boasts over 50 years of experience building robust security measures and protecting customer data. 

It is also worth noting that the platform has never been hacked since it began operations in 2019. 

## Conclusion 

Swyftx is an impressive crypto exchange that is easy to use and highly secure. Its many features and low fees also make it a platform worth using. 

However, it is a disappointment that the platform is best suited for the Australian and New Zealand market and not the global one. All in all, it is a reputable exchange that is worth looking into. 

Swyftx blue bitd logo over image of men trading on crypto exchange

What is Swyftx

Technology is pivotal in driving innovation, economic growth, and social development in today's rapidly evolving world. However, the industry is still grappling with a significant gender gap that limits the full potential of its workforce. According to recent studies, women comprise only 25% of the tech workforce, and this disparity is even more pronounced in leadership roles. This is where Women in Tech steps in – an international non-profit organization dedicated to bridging the gender gap in STEAM (Science, Technology, Engineering, Arts, and Mathematics) fields. [Women in Tech](https://women-in-tech.org/) has been at the forefront of empowering women and girls by promoting education, fostering business opportunities, advocating for digital inclusion, and championing gender equality. Through its various initiatives, it continues to unleash the power of diversity and inclusion, leading to a more innovative, competitive, and prosperous technology sector. ## Promoting empowerment through education Education plays a crucial role in empowering individuals, and Women in Tech is at the forefront of promoting empowerment through education for girls and women worldwide. With a clear focus on Sustainable Development [Goal 5b](https://stats.unctad.org/Dgff2016/people/goal5/target_5_b.html#:~:text=Target%205.-,b%3A%20Women%20empowerment%20through%20ICT,promote%20the%20empowerment%20of%20women.), which emphasizes harnessing technologies, Women in Tech recognizes the power of education to transform lives and create opportunities for women in STEAM fields. This global movement is working tirelessly to empower five million women and girls by 2030 by providing access to quality education and fostering a supportive learning environment. One of the key pillars of Women in Tech's mission is to promote girls' and women's empowerment through education. It firmly believes education is the foundation for personal growth and professional success. Offering various educational programs equips women with the knowledge, skills, and resources required to thrive in STEAM disciplines. From skilling programs to mentorship initiatives, these educational opportunities enable women to develop their talents, overcome barriers, and realize their full potential. ## Fostering business opportunities Women in Tech works to foster business opportunities for women, particularly in STEAM fields, through five key strategies: - Networking and Collaboration: Providing a platform for women to connect and build professional networks through events, conferences, and chapters worldwide. - Mentorship Programs: Offer mentorship programs that pair experienced professionals with aspiring women entrepreneurs for guidance and support. - Business Training and Education: Organizing skilling programs, workshops, and educational initiatives to empower women with necessary business skills. - Championing Gender Equity and Female Empowerment: Elevating the significance of diversity and inclusion in business and technology by emphasizing the vital role of women and promoting equal opportunities. - Global Summit and Awards: Hosting a Global Summit for knowledge-sharing, networking, and organizing regional awards ceremonies to celebrate women's achievements. By focusing on inclusion, diversity, and equity in STEAM, the organization aims to create an environment that nurtures and promotes business opportunities for women. ## Advocacy for gender equality The organization is dedicated to championing gender equality in [STEAM](https://www.techtarget.com/whatis/definition/STEAM-science-technology-engineering-arts-and-mathematics) by cultivating inclusive environments and advocating for equal opportunities. Focusing on Sustainable Development Goal 5b, it supports the empowerment of girls and women worldwide through four core pillars: Education, Business, Digital Inclusion, and Advocacy. Its initiatives aim to raise awareness about the gender gap, challenge stereotypes, and dismantle gender-based discrimination in the tech industry. The organization's efforts include a [Global Summit](https://womenintech-summit.com/), which assembles leaders and advocates to discuss gender equality challenges and foster collaborations. Through global chapters and partnerships, it establishes a support network for women in technology, connecting them with mentors and offering skill-building programs. The organization proactively champions [gender equality](/news/article/world-of-woman-nft) through various initiatives, events, and collaborations. #Advocacy for gender equality The organization is dedicated to championing gender equality in STEAM by cultivating inclusive environments and advocating for equal opportunities. Focusing on Sustainable Development Goal 5b, it supports the empowerment of girls and women worldwide through four core pillars: Education, Business, Digital Inclusion, and Advocacy. Its initiatives aim to raise awareness about the gender gap, challenge stereotypes, and dismantle gender-based discrimination in the tech industry. The organization's efforts include a Global Summit, which assembles leaders and advocates to discuss gender equality challenges and foster collaborations. Through global chapters and partnerships, it establishes a support network for women in technology, connecting them with mentors and offering skill-building programs. The organization proactively champions gender equality through various initiatives, events, and collaborations. 

[Women in Tech](https://women-in-tech.org/) has been at the forefront of empowering women and girls by promoting education, fostering business opportunities, advocating for digital inclusion, and championing gender equality. Through its various initiatives, it continues to unleash the power of diversity and inclusion, leading to a more innovative, competitive, and prosperous technology sector. 

## Promoting empowerment through education 

Education plays a crucial role in empowering individuals, and Women in Tech is at the forefront of promoting empowerment through education for girls and women worldwide. With a clear focus on Sustainable Development [Goal 5b](https://stats.unctad.org/Dgff2016/people/goal5/target_5_b.html#:~:text=Target%205.-,b%3A%20Women%20empowerment%20through%20ICT,promote%20the%20empowerment%20of%20women.), which emphasizes harnessing technologies, Women in Tech recognizes the power of education to transform lives and create opportunities for women in STEAM fields. 

This global movement is working tirelessly to empower five million women and girls by 2030 by providing access to quality education and fostering a supportive learning environment. 

One of the key pillars of Women in Tech's mission is to promote girls' and women's empowerment through education. It firmly believes education is the foundation for personal growth and professional success. Offering various educational programs equips women with the knowledge, skills, and resources required to thrive in STEAM disciplines. From skilling programs to mentorship initiatives, these educational opportunities enable women to develop their talents, overcome barriers, and realize their full potential. 

## Fostering business opportunities 

Women in Tech works to foster business opportunities for women, particularly in STEAM fields, through five key strategies: 

- Networking and Collaboration: Providing a platform for women to connect and build professional networks through events, conferences, and chapters worldwide. 

- Mentorship Programs: Offer mentorship programs that pair experienced professionals with aspiring women entrepreneurs for guidance and support. 

- Business Training and Education: Organizing skilling programs, workshops, and educational initiatives to empower women with necessary business skills. 

- Championing Gender Equity and Female Empowerment: Elevating the significance of diversity and inclusion in business and technology by emphasizing the vital role of women and promoting equal opportunities. 

- Global Summit and Awards: Hosting a Global Summit for knowledge-sharing, networking, and organizing regional awards ceremonies to celebrate women's achievements. 

By focusing on inclusion, diversity, and equity in STEAM, the organization aims to create an environment that nurtures and promotes business opportunities for women. 

## Advocacy for gender equality 

The organization is dedicated to championing gender equality in [STEAM](https://www.techtarget.com/whatis/definition/STEAM-science-technology-engineering-arts-and-mathematics) by cultivating inclusive environments and advocating for equal opportunities. Focusing on Sustainable Development Goal 5b, it supports the empowerment of girls and women worldwide through four core pillars: Education, Business, Digital Inclusion, and Advocacy. Its initiatives aim to raise awareness about the gender gap, challenge stereotypes, and dismantle gender-based discrimination in the tech industry. 

The organization's efforts include a [Global Summit](https://womenintech-summit.com/), which assembles leaders and advocates to discuss gender equality challenges and foster collaborations. Through global chapters and partnerships, it establishes a support network for women in technology, connecting them with mentors and offering skill-building programs. The organization proactively champions [gender equality](/news/article/world-of-woman-nft) through various initiatives, events, and collaborations. 

## Milestones and achievements 

- Impact on People: This organization championing women in technology has touched the lives of 250,000 individuals globally through its various initiatives and programs. 

- Event Participants: Over 230,000 people have participated in events organized by this group, promoting networking, knowledge sharing, and collaboration. 

- Skilling Programs Beneficiaries: More than 25,000 individuals have reaped the benefits of this organization's skilling programs, honing their abilities in STEAM subjects. 

- Mentoring: The mentoring program has successfully established over 2,000 mentor-mentee connections. 

- Donated Computers: This group has donated 260 computers to address the digital divide, ensuring access to technology for underprivileged communities. 

The organization continues to make remarkable progress in advocating for gender diversity and equality within the technology sector, inspiring women and girls to explore careers in STEAM fields. 

## Conclusion 

Women in Tech is dedicated to empowering women in the technology sector. Through its focus on education, business opportunities, and digital inclusion, it aims to bridge the gender gap and unleash the power of diversity and inclusion. 

Breaking barriers: Empowering women in tech 

The Plutus card is a rewarding debit card used to make purchases online and in person. Each time its holder uses it to make payments, they earn 3% of their transaction in Pluton (PLU) as a reward. It is a product of Block Code Ltd, a company registered in England and Wales. 

## Pros and cons 

### Pros 

- 3% cashback on payments made. 
- Non-custodial cryptocurrency wallet.
- More rewards for premium and pro members. 
- Free trading fees with membership. 

### Cons 

- Only works with ETH and PLU crypto. 
- Not available everywhere, including in the US. 
- The rewards program involves monthly fees. 

## How it works 

Plutus is available as a physical and digital card. To use it, one has first to top it up. Those living where it is supported can top it up with either EUR or GBP via SEPA or SWIFT bank transfers. They can then spend their fiat anywhere VISA is accepted and earn crypto rewards. 

## Supported cryptocurrencies 

Plutus only supports [Ethereum (ETH) ](/coins/eth)and Pluton (PLU) cryptocurrencies (as of writing), which can be converted into fiat currencies through a decentralized exchange. 

Pluton (PLU) is marketed as the world’s first decentralized loyalty rewards token. It is an ERC20 token that is earned on purchases made using Plutus. 

## Perks 

Besides the cashback reward, users can earn additional perks by stacking PLU. There are up to eight perks, which include free Netflix and Spotify subscriptions. 

How many perks a user enjoys depends on their subscription plan and how many PLU tokens they hold. There are three subscription plans, Starter, Everyday, and Premium. The Starter plan comes with one perk, the Everyday plan has two perks, and the Premium plan has three perks. 

The more tokens a user stacks, the more perks they enjoy. Users stacking 250 PLU get four perks, and those stacking 500 PLU get five. Those holding 1,000 PLU get six perks, while those holding 2,000 PLU get eight. It is worth noting that reward-level figures replace subscription plan figures. 

## Supported countries 

[Plutus card](https://plutus.it/card) is available in the UK. It is also available in most countries in the European Economic Area, including Austria, Belgium, and Bulgaria. 

However, it is not available in many other parts of the world, including the US. According to its site, there are plans to expand its availability to where it's currently unavailable. 

## Fees 

[Fees](https://plutus.it/accounts) vary based on a user’s subscription plan. The Starter plan is free. The Everyday plan costs €4.99 per month. The Premium plan costs €14.99 per month. 

The Starter plan features a 1% fee on Swaps, while the other two charge zero fees. All three accounts have zero fiat withdrawal fees. However, they all charge €5 PLU withdrawal fees. 

Besides the account fees, additional fees are charged whenever Plutus card is used to make a purchase. The fees are extensive and complex, but worth checking out. You can also expect ATM withdrawal fees whenever you cash out using the card. 

## Is it worth it? 

Plutus card offers many benefits, especially the 3% cashback reward. The fact that it comes with a non-custodial Ethereum wallet is another plus. Holders get to own their private keys and have full control over their funds. 

Furthermore, it is protected by the VBV (Verified by Visa) and governed by the FCA (Financial Conduct Authority). It is legit. 

Its few drawbacks are what might worry some people. For example, it is not available everywhere. It also only supports PLU and ETH and features some pretty high fees compared to other cards. 

## Alternatives 

Plutus limitations make Coinbase, Binance, and Crypto.com cards great alternatives for those looking to invest in them. 

Coinbase card, for example, has a few advantages. Firstly, it enables holders to earn up to 4% back in crypto rewards every time they make a purchase. Holders can choose which cryptocurrency gets converted and used to make payments. A wide variety of cryptocurrencies are supported. 

Furthermore, it is highly secure and available anywhere Coinbase is available. Like other crypto cards, one must have a Coinbase account to use it, which is a drawback for some people. 

## Conclusion 

Plutus card is a great payment card if you live where it is available, Europe. It is accepted anywhere that VISA can be used and offers 3% cashback rewards. Its three subscription plans allow anyone, regardless of their financial situation, to use it. All in all, it is an excellent crypto card. 

plutus card in persons hand with bitcoins in the background

What is the Plutus Card?

LiveCoinWatch is a platform for tracking various data and analytics of cryptocurrencies. Token analytics this site covers include trade volumes, real-time price information, and other market data pooled from various exchanges. 

Is LiveCoinWatch still as relevant today as it was a few years ago? The answer would be a resounding yes. You must tailor this tool's usage to the market's evolutionary movements. [LiveCoinWatch is a bit like Coinmarketcap](https://blockchain.news/analysis/worldcoinindex-coingecko-livecoinwatch-who-will-become-the-biggest-threat-to-coinmarketcap), but there are some subtle differences, and your job is to know how to identify and deploy these differences to your advantage. 

## The first rational question would be: what can you use LiveCoinWatch for? 

- You can use this tool to identify what exchanges a coin is trading in. 
- By extension, arbitrage traders can use the tool to compare token prices across exchanges and use the information to plan their arbitrage trades. 
- You can access real-time market data about any crypto token. Data such as market capitalization, volume, price data, liquidity, etc., are all covered by LiveCoinWatch. 
- Enter your holdings into the appropriate search bar and view the analytics for your crypto portfolio live. 
- As a trader, you can also set price alerts so you receive notifications when the asset has hit your preferred trade entry or exit points. 
- You can track upcoming [ICO](/news/article/what-is-an-ico)s. 

Given the various functions that can be performed on the website, what would be a rational use case that a trader can directly profit from? 

## A use case for LiveCoinWatch 

One functionality of this website is its integration with several cryptocurrency exchanges, allowing the user to view the prices of tokens across these exchanges. 

This price aggregation allows the user to plan for arbitrage trades. By comparing price, volume, and liquidity information for a token across several exchanges, a user can potentially buy a token at a lower price on one exchange and resell the same on another exchange where the price is higher, profiting from the differential. 

LIVECOINWATCH logo on yellow image of crypto trading data

LiveCoinWatch Platform and You

JWT token (JSON Web [Token](/news/article/chiliz-coin-fan-token)) is a widely accepted standard (RFC 7519) that provides a compact and self-contained method for securely exchanging information as a JSON object. 

The information contained in JWTs can be verified and trusted due to its digital signature. JWT tokens can be signed using a secret with the HMAC algorithm or a public/private key pair using RSA or ECDSA. This cryptographic signing ensures the integrity and authenticity of the JWT, enabling recipients to validate its contents confidently. 

## JSON Web Token Structure 

The JWT token consists of three parts which are separated by dots(.): 

### 1.  Header 

 The header of a JWT token primarily provides information about the cryptographic operations applied to the token, such as the signing or encryption technique used. Additionally, it can include details about the media or content type of the information being transmitted. 

A simple example of a JWT Header 

{ 

  "alg": "HS256", 

  "typ": "JWT" 

} 

In this example, the header specifies that the JWT uses the HMAC SHA256 algorithm (HS256) for cryptographic operations, and the token type is JWT. 

Some JWTs can be created without signature or encryption, making them unsecured tokens. In the header of an unsecured JWT, the value of the "alg" property is set to "none", indicating that no cryptographic algorithm is applied to the token, making it less secure than signed or encrypted JWTs. 

{ 

"alg":" none" 

} 

### 2.    Payload 

The payload of a JWT is where the user data, also known as "claims", is included. It is important to note that the payload is readable by anyone with access to the token. 

Therefore, it is advisable not to include confidential or sensitive information in the payload to maintain security and privacy. 

Claims in JWTs can be categorised into three types: reserved, public, and private. 

### 3.    Reserved Claims  

These are predefined claims that have specific meanings and are commonly used. 

Examples of reserved claims include "iss" (issuer), "exp" (expiration time), "sub" (subject), and "aud" (audience). These claims have standardised interpretations across different systems. 

### 4.    Public Claims 

Public claims are custom claims defined by the users or organisations. They are not standardised and can vary based on specific use cases. Public claims help convey additional information relevant to the application or domain. 

### 5.    Private Claims 

Private claims are similar to public claims but are specific to a single application or organisation. They are not meant to be shared or understood by other parties. Private claims provide a way to include custom information for internal use within the application or organisation. 

{ 

   "alg": "none" 

 } 

### 6. Signature 

To create the signature part of a JWT using the HMAC SHA256 algorithm, you need to take the encoded header, the encoded payload, a secret key, and the algorithm specified in the header and then sign them. 

HMACSHA( 

  base64UrlEncode(header) + ’.’ + 

  base64UrlEncode(payload), 

  secret) 

## The benefits of utilising JSON Web Tokens (JWTs) 

Below listed are the advantages of JSON Web Tokens (JWT) compared to Simple Web Tokens (SWT) and Security Assertion Markup Language Tokens (SAML) 

### 1.   Compactness: 

JWT is more compact than SAML due to JSON's concise nature and smaller encoded size, making JWT suitable for HTML and HTTP environments where efficiency is crucial. 

### 2.   Security Options: 

SWT can only be symmetrically signed with a shared secret using the HMAC algorithm. In contrast, JWT and SAML tokens can utilise a public/private key pair, such as an X.509 certificate, for signing. However, signing XML with XML Digital Signature can be complex and prone to [security ](/news/article/blockchain-security-in-depth-analysis)vulnerability, whereas signing JSON is simpler. 

### 3.   Easy Integration: 

JSON parsers are widely available in programming languages and can directly map to objects. In contrast, XML lacks a natural document-to-object mapping, making JWT easier to work with than SAML assertions. 

### 4.   Broad Usage: 

JWT is extensively used on the internet, including widespread adoption across multiple platforms, particularly in mobile environments. The ease of client-side processing contributes to its popularity and originality. 

## When should you start using JSON Web Tokens? 

### 1.    Authorization - 

JWT is commonly used in scenarios where users need to authenticate and access different services or resources. Once a user logs in, they receive a JWT, which is then included in subsequent requests. This token allows the user to access authorised routes, services, and resources without needing to provide credentials again. JWT is particularly popular in Single Sign-On (SSO) systems because it is lightweight and can be easily used across multiple domains. 

### 2.    Information Exchange - 

[JSON Web Tokens (JWTs)](https://jwt.io/introduction) offer a reliable and secure method of transmitting information between parties. By utilising signature mechanisms, such as public/private key pairs, a JWT token enables verification of the senders' authenticity. The inclusion of a signature covering the header and payload ensures that the content remains unaltered and protected against tampering. 

## How to utilise JSON Web Tokens in Auth0 

In Auth0, JWTs are generated as a result of the authentication process. When a user logs in using Auth0, a JWT token is created, signed, and delivered to the user. Auth0 supports both HMAC and RSA algorithms for signing JWTs. This token is then utilised for authentication and sanction when interacting with APIs, granting access to protected routes and resources. 

Additionally, JWTs are employed in Auth0's API v2 for authentication and authorization purposes, replacing the traditional usage of opaque API keys. JWT token offers granular security, enabling the specification of specific permissions within the token, enhancing debuggability, and providing a more flexible authorization mechanism. 

JWT Token: A Comprehensive Guide

In March 2023, Netflix premiered a series on the "late" former CEO of the defunct Canadian crypto exchange, Gerald Cotten. 

Gerald Cotten was reported to have died in 2018 while on a honeymoon in India, and his wife only made his death public a month later. Panicked investors tried to withdraw their funds from his exchange but could not do so. It then emerged that Cotten was the only one with the keys to the offline wallets housing his clients' crypto funds. So the keys died with him, cementing the well-known crypto adage "not your keys, not your tokens". Estimates of funds that went with the wind stand at $ 250 million. 

The story remains evergreen as it has repeatedly played out in other ways. The most recent was the 2022 implosion of the second-largest crypto exchange by trading volume, FTX. 

From what has so far emerged in the media, the modus operandi of FTX and QuadrigaCX appear to be the same: co-mingling of traders' funds, unapproved transfers to third-party wallets, unhedged leveraged trades on other digital assets outside the exchange, and a centralized operation that appears to have been run by the young and inexperienced CEO and a handful of insiders with no professional training, no knowledge of compliance and zero internal controls. 

The only major difference from the Gerald Cotten story is that the former FTX CEO of FTX, Sam Bankman-Fried, is still alive. Some of his fellow insiders have also spoken to authorities, and some of the company's monies are being recovered.  

## Why is Gerald Cotten’s story still relevant?

The unfolding saga, which features US regulators and their recent lawsuit against Binance.US, continues to remind traders who care to take notice of the dangers of leaving funds in largely unregulated centralized exchanges. 

Binance.US and CEO Changpeng Zhao have been slammed with serious charges. 

The Binance token has already taken a massive hit in the market as traders rush to the exit door to sell off their holdings. It is not the first time. A December 2022 CNN report claimed that more than $ 3 billion was withdrawn from Binance on 13 December, 2022, after several negative headlines and the prevailing cloud of FTX saw cautious investors take out their funds. According to a Forbes report on the situation, more than [$12 billion had been withdrawn from Binance](https://www.forbes.com/sites/javierpaz/2023/01/10/binance-is-bleeding-assets-12-billion-gone-in-less-than-60-days/) when the cloud cleared. 

The company survived this mini-run. But the new allegations against CZ, especially those claiming he siphoned customers' funds to his private wallets, are concerning. The company's response to suspend US dollar deposits indicates that the company is more than concerned about the situation. It has already suspended trading on several BNB pairs and is ending fiat deposits and withdrawals as it did in [March with GBP customers](/news/article/binance-gbp-deposits-and-withdrawals-suspended). 

Binance is not just another exchange. Whatever happens in the coming months regarding this case will have huge ramifications for the crypto market. Presently, no one knows where this is all headed. However, considering how US authorities have come down hard on those perceived as using cryptos to breach securities laws, it is safe to say that a guilty verdict will not be a pleasant situation for Binance and its customers. 

## Conclusion 

The worst-case scenario would be the US Government taking over Binance's assets and seizing the webpage handling its trading business. Those who think this is a far-fetched view should go back to 2013 to see what US authorities did with Liberty Reserve and its founder Arthur Budovsky. 

After a multi-year investigation spanning 17 countries, Budovsky was indicted over extensive money laundering and the flow of large amounts of illicit funds through his business. Not only were all the assets of that company and its major partners seized, but Budovsky and several associates were tried, found guilty, and jailed. Budovsky is still doing time in prison and, to date, many innocent entities who used the exchange for legitimate business have not recovered their funds. 

You may argue that the crypto world is different now and operates at a time when there is stricter oversight on how monies are moved across the world. But when you also consider that many crypto exchanges are closing down accounts of Russians due to sanctions stemming from the ongoing Russia-Ukraine war, you suddenly become aware of how innocent people unconnected with the key events can quickly become collateral damage. 

The story of Gerald Cotten is as relevant today as it was five years ago when his demise was reported. The Binance case presents another opportunity for investors to understand better why your tokens are only yours if you have control over the private keys needed to store or move them. 

Gerald Cotten former exchange CEO in front of image of USD and BItcoins

The Gerald Cotten story remains relevant 

When it comes to the world of crypto, few individuals have had as much influence as Elon Musk. The eccentric entrepreneur has made headlines time and time again for his comments on various cryptocurrencies, including Bitcoin, Dogecoin, and Ethereum. 

In this article, we'll take a closer look at Elon Musk's crypto journey, examining the implications of his involvement on the market, investors, and traders. 

## The Elon Musk crypto effect: A timeline 

Musk's interest in cryptocurrencies dates back to 2014, when he first mentioned Bitcoin in a tweet. Since then, his engagement with the crypto community has grown, leading to notable comments and tweets about cryptocurrencies such as Bitcoin, Ethereum, and, most prominently, Dogecoin. 

In 2021, the "Elon Musk crypto effect" reached new heights. In February, it was revealed that Tesla had purchased Bitcoin worth $1.5 billion, and the company said it would begin accepting BTC as payment for its vehicles. This news sent Bitcoin's value skyrocketing, solidifying its status as the leading digital currency. 

However, in May 2021, Elon Musk reversed Tesla's decision to accept Bitcoin payments, citing environmental concerns due to the high energy consumption in cryptocurrency mining. This led to a significant drop in Bitcoin's value, demonstrating the power of Musk's influence on the market. 

At the same time, Elon Musk's love for Dogecoin has been well-documented. His frequent tweets and endorsements have caused the coin's value to surge, often followed by a subsequent drop. This volatility has left many investors and traders questioning the long-term implications of Musk's involvement in the crypto space. 

## The ripple effect of Elon Musk crypto tweets 

Elon[ Musk's tweets](https://www.cnbc.com/2021/02/08/tweets-from-elon-musk-and-celebrities-send-dogecoin-to-a-record-high.html) about cryptocurrencies have sent the market on a rollercoaster ride. In early 2021, Dogecoin's value skyrocketed by more than 800% following Musk's tweet, demonstrating his far-reaching influence on the crypto market. 

Musk's humorous and engaging tweets often spark debates, such as when he criticized Bitcoin's energy consumption, causing its value to drop by more than 10%. 

Even subtle actions like adding "#bitcoin" to his Twitter bio led to a [20% increase in Bitcoin's value](https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3778844), a phenomenon dubbed the "Musk Effect". 

Social media platforms like Twitter play a critical role in the cryptocurrency market, facilitating communication and information sharing among investors and enthusiasts. However, this can be a double-edged sword, introducing unpredictability and volatility to the market while empowering small investors. The impact of influential figures like Musk on the market remains a topic of debate. 

## Social media's role in the crypto market 

Musk's crypto tweets are just one example of how social media can shape the crypto market. Platforms like [Twitter](https://twitter.com/home), [Reddit](https://www.reddit.com/), and [Telegram ](https://telegram.org/)have become hotbeds for discussions about cryptocurrencies, with users sharing news, analysis, and predictions about the market. These discussions can significantly impact the market, as evidenced by events like the GameStop short squeeze and the rise of meme-based cryptocurrencies like [Dogecoin](/news/article/elon-musk-twitter-dogecoin). 

Social media also allows for the rapid dissemination of accurate and misleading information. This can lead to market manipulation and misinformation, harming the market's stability and credibility. 

Despite these risks, social media has also been crucial in fostering community building and education in crypto. Platforms like YouTube and Twitter have enabled experts and enthusiasts to share educational content on cryptocurrencies, making it easier for newcomers to learn about blockchain technology, trading strategies, and investment opportunities. These communities often provide valuable feedback, support, and promotion for cryptocurrency projects, contributing to their success. 

Influencer marketing has become another significant aspect of social media's impact on the crypto market. Crypto influencers with thousands or even millions of followers can drive tremendous interest in specific cryptocurrencies, impacting their market value with just a single tweet or post. 

While this can lead to increased adoption and awareness, it also raises concerns about market manipulation and the potential for pump-and-dump schemes, where influencers artificially inflate [cryptocurrency prices](/news/article/bitcoin-up) before selling at a profit. 

## Conclusion 

In conclusion, Elon Musk's impact on the cryptocurrency world is undeniable. His comments and tweets have significantly influenced the market, leading to both positive and negative implications. 

While his passion for cryptocurrencies is evident, the long-term effects of his influence remain to be seen. As the industry continues to evolve, it will be crucial for investors, traders, and enthusiasts alike to make informed decisions that are based on more than just the latest "Elon Musk crypto" tweet. 

Blue image of crypto exchange with Elon Musk in foreground

Elon Musk crypto influence: Market implications

With the current surge in the popularity of cryptocurrencies, managing a diverse crypto portfolio has become increasingly challenging for investors. However, crypto portfolio trackers such as CoinStats offer a solution. 

It provides a user-friendly platform that simplifies monitoring various cryptocurrencies available in the market. This tool particularly benefits investors primarily focusing on Ethereum and DeFi sectors. 

Unlike other prominent crypto portfolio trackers, the platform lets users seamlessly sync their MetaMask, Ledger, or other Ethereum-compatible wallets directly with the portfolio tracker. This integration feature allows users to conveniently keep track of all their investments within the Ethereum ecosystem from a single centralised platform. 

## How to get started with CoinStats 

To begin using [CoinStats](https://coinstats.app/), the first step is registering for an account. Upon registration, there is an option to choose the free plan, which provides numerous complimentary features. However, it offers two premium plans for optimal platform utilisation: CoinStats Pro and CoinStats Premium. 

The Pro plan is priced at $3.49 per month, enabling users to connect effortlessly to ten cryptocurrency exchanges and ten distinct crypto wallets. Additionally, users are granted the ability to track up to 1,000 transactions each month. It also offers valuable insights such as proprietary reviews and analysis, empowering users with comprehensive information. 

For more advanced features, users can choose the Premium plan that offers unlimited connectivity to various exchanges and wallets, eliminating any restrictions. With the Premium feature, users can monitor up to 100,000 monthly transactions. In addition to market insights, subscribers benefit from the assistance of personal account managers, who provide valuable guidance and support in managing their crypto portfolios. 

The platform also provides Android and iOS apps, ensuring accessibility via mobile devices. Users can track their crypto portfolio via just one tap on the go. 

Once users have successfully created an account and synchronised it with crypto wallets and exchanges, they can gain access to various tools. These include transaction analytics, facilitating detailed analysis of crypto transactions, fast trading capabilities, and instant notifications. Additionally, CoinStats keeps its users updated with the latest news, a valuable resource for traders seeking insights into market movements. 

Furthermore, the platform offers its crypto wallet, the CoinStats Wallets. This dedicated wallet enables users to leverage numerous decentralised finance (DeFi) features, including staking. 

## Exchange supported 

The platform offers support for a smaller range of crypto exchanges when compared to its competitors, such as [Blockfolio](https://www.cryptovantage.com/best-crypto-portfolio-trackers/blockfolio-review/). It currently supports Binance, Bitfinex, BitMax, BitMEX, [Bitso](/news/article/what-is-bitso), Bitstamp, Bittrex, CEX.io, Coinbase, FTX (with native support), Gemini, HitBTC, [Huobi](/news/article/huobi-global-explained), IDEX, Liquid, Kraken, Kucoin, and Poloniex. 

## Bottom line 

CoinStats has established a strong reputation within the Ethereum ecosystem, positioning itself as one of the top choices for[ crypto investors](/news/article/crypto-investing-for-beginners-uk) interested in ERC-20 tokens. 

The platform distinguishes itself by significantly emphasising the Ethereum ecosystem, unlike many competitors, who adopt a more generalised approach. 

It allows users to seamlessly integrate any Ethereum wallet into their account, enabling them to engage in trading or investment activities involving various ERC-20 tokens. 

Furthermore, it allows any crypto trading, specifically if it touches on Ethereum or Ethereum-based DApps. In addition, it provides market insights and analysis, allowing users to make better informed investment decisions within the crypto space. 

Coinstats logo on yellow image of person counting money

CoinStats - The Crypto Portfolio Tracker

Tom Brady, a beloved US National Football League (NFL) figure, has found himself entangled in a significant financial predicament. Recently, documents related to the [FTX bankruptcy case ](/news/article/ftx-bankrupt-who-to-blame)revealed that Brady had invested substantial funds in the now-collapsed crypto exchange. Unfortunately, these funds have now become nearly worthless following the bankruptcy filing. 

Various media outlets, including The Insider and Bloomberg, have reported that Tom Brady held approximately 1.1 million FTX shares. Additionally, reports indicate that Gisele Bündchen, Brady's former wife and a renowned supermodel, also had a significant investment, owning approximately 680,000 shares in the exchange. 

This article explores the journey of Tom Brady, once an ambassador for FTX, and how he lost a considerable number of shares in the exchange. We will also assess the potential for the recovery of these funds. 

## Tom Brady FTX affiliations 

Since 2021, former NFL player Brady has served as the ambassador for the now-insolvent crypto exchange FTX. His ex-wife, Gisele Bündchen, has also been associated with the company. Together, they have participated in various [advertising campaigns promoting FTX services,](https://web.archive.org/web/20230111152240/https:/www.youtube.com/watch?v=_aCGMyrFn-8&t=55s) which have faced significant criticism from the crypto community. 

![FTX Tweet screenshot from 2021. Shows Tom Brady and his wife and announces they are to be FTX ambassadors. ](https://s3.eu-west-2.amazonaws.com/prod-monitalks-media/Screenshot_2023_07_17_at_09_34_48_5f7d387508.png)

Investors hold the couple responsible for intentionally encouraging people to invest in the crypto firm, leading to a lawsuit, as reported by [Business Insider](https://markets.businessinsider.com/news/currencies/tom-brady-shaquille-o-neal-golden-state-warriors-ftx-lawsuit-2023-5). The lawsuit was filed in November 2022 and included several other prominent figures from the sports and entertainment industries. 

On May 11, 2023, an amended complaint was filed in the Florida District Court. Reports suggest that Dan Friedberg, the former chief compliance officer of FTX exchange, is cooperating with the lawyers and providing valuable information regarding the FTX promotional campaigns. Friedberg's involvement indicates that a substantial portion of the campaigning occurred in Florida. 

Initially, some defendants claimed that the promotional activities were unrelated to Florida. However, with Friedberg's statement, the class action lawyers now have evidence to challenge the defendants' claims. Currently, the legal proceedings for the case are underway in the Florida District Court. 

## Can Tom Brady FTX shares be recovered? 

Brady and his former wife, Bündchen, possessed a combined total of approximately two million devalued shares. Before the [collapse of FTX](/news/article/ftx-collapse-blockfi-suspend-withdrawals), these shares held a considerable value in the millions. Forbes estimated Brady's claims to be [worth around $45 million](https://www.forbes.com/sites/chasewithorn/2022/11/10/exclusive-these-investors-stand-to-lose-the-most-from-ftxs-implosion/?sh=39ec68862670) and Bündchen's shares to be approximately $25 million. However, as [Sam Bankman-Fried](/news/article/former-ftx-ceo-sbf-arrested)'s firm faced mounting losses, the value of these shares plummeted. 

Currently, the chances of stakeholders fully recovering their funds are improbable. The downfall of FTX resulted in a loss of approximately $32 billion, with only [$7.3 billion](https://www.reuters.com/technology/bankrupt-crypto-exchange-ftx-has-recovered-73-bln-assets-attorney-2023-04-12/) having been recovered thus far. Given this significant disparity, it is unrealistic to expect all stakeholders to be able to [retrieve their assets](/news/article/ftx-news-assets-recovered). 

## Other celebrities who lost funds in the FTX collapse 

Brady and Bündchen are not the only high-profile individuals involved with [Sam Bankman-Fried's bankrupt exchange](/news/article/sam-bankman-fried-lost-billions). A roster of celebrities from the sports and entertainment worlds became investors in the company prior to its insolvency. Notably, Robert Kraft, the owner of the New England Patriots, held approximately 630,000 common shares in the firm. 

The sports industry features other notable names, including Golden State Warrior's basketball player Stephen Curry, former NBA player Shaquille O'Neal, baseball player David Ortiz, and tennis player Naomi Osaka. 

In addition to sports personalities, the list of celebrities affected by FTX's collapse includes renowned comedian Larry David, entrepreneur Kevin O'Leary, and numerous others. 

## Final words 

Tom Brady, a legendary NFL player with seven Super Bowl championships under his belt, made headlines when he joined the FTX crypto exchange as an ambassador in 2021. Alongside his then-wife, Gisele Bündchen, Brady actively promoted the exchange's services. 

Not only did he lend his influence, but he also made significant investments in the form of 1.1 million common shares, valued at a staggering $45 million. 

Unfortunately, as the exchange encountered insolvency, the value of these shares plummeted, putting Brady's substantial investment at risk of significant loss. Brady is now facing a lawsuit about his promotion of FTX services, further complicating his involvement with the exchange. 

red image of Tom Brady from the NFL looking confused with FTX app on a phone

Tom Brady FTX ambassador may lose 1.1m shares

[PrimeXBT](https://primexbt.com/) is a leading cryptocurrency exchange and trading platform with more than a million users in over 150 countries worldwide. 

Launched in 2018, it supports the trading of both traditional and crypto assets. Users can trade cryptocurrencies, most major stock indices, commodities, and foreign currencies. The best part is that it is designed to support traders of all levels, beginners and advanced. 

## PrimeXBT pros and cons 

### Pros 

- Allows users to trade crypto assets, stock indices, commodities, and foreign currencies. 

- Best suited for beginners and advanced traders. 

- Class-leading leverage of 1:100. 

- Low fees. 

### Cons 

- Not available in several countries, including US, Canada, and Japan. 

- No lending or staking services. 

- Few trading pairs. 

## Features and services 

PrimeXBT stands out with its features and products. Some notable ones include; 

### 100x leverage 

The exchange offers leverage of 1:100. For every $1, a user gets $100 worth of buying and selling power. This enables them to make even more profits or losses. 

Leverage, or margin trading, is a method that involves using borrowed funds to increase your trading position. It enables you to trade and profit using larger asset amounts than in your personal account. 

### Multi-level referral program 

PrimeXBT has a referral program allowing users to receive rewards for direct referrals they bring and their referrals. The program increases users' passive income from fees paid by the referral network they build. 

### Advanced technical analysis tools 

PrimeXBT exchange’s technical analysis platform runs on [TradingView](/news/article/tradingview-uk-101), a social network for traders. It offers advanced charting tools, technical indicators, and social networking features that help traders and investors spot opportunities across global markets. 

The PrimeXBT technical analysis platform is preloaded with hundreds of popular indicators, like strength index and moving averages, more than 50 intelligent drawing tools, and educational resources. 

### Copy-trading 

It is the act of copying another trader’s (usually a top trader) trading activity in the hopes of succeeding when they do. 

The feature is available on the “Covesting" section of the platform. In the "Rating" tab are hundreds of trading strategies provided by other traders that users can copy. 

Users can choose to use the "Filter" icon to quickly find strategies that best suit their desired risk and reward ratio. 

### Trading and gaining from your following 

The feature allows traders to earn additionally from their followers if they gain a following and perform successful trades. The more followers they have, the more money they can make. 

### Turbo 

Turbo allows traders to enter trades with a short duration, resulting in the fastest track toward profits. Users can earn more than 70% return on their investments in minutes. 

The feature simplifies trading and allows for lightning-speed profit generation. It creates opportunities for profit at previously impossible speeds. 

## Fees 

PrimeXBT exchange features a simple fee structure. There are two types of fees: trading and overnight financing. A trading fee is charged anytime a trader opens or closes a position. It is a percentage of the transaction amount. PrimeXBT charges: 

- 05% for cryptocurrencies. 

- 0% for indices and commodities. 

- 0% for forex. 

Overnight finance is charged whenever a leverage position is carried into a new trading day. The fee is a percentage of an open trade, usually in the range of 0.00277% to 0.1389%, based on the type of trade. 

There are no fees for account deposits. The withdrawal fee is a flat fee, whatever the amount of the asset being withdrawn. For example, the standard fee to cover Bitcoin transaction cost is 0.0005BTC. 

It is worth noting that fees are subject to change based on market conditions. 

## Is PrimeXBT safe? 

PrimeXBT has an extensive, multi-layered cybersecurity framework that provides its users with the highest level of security. It also runs random stress tests and security audits to ensure its network stays secure. 

Its specific security measures include: 

- Two-factor authentication preventing unauthorized access to users’ accounts. 

- Encrypted secure sockets layer (SSL) that encodes and protects website traffic. 

- Password encryption is with the bcrypt hashing function. 

- Cloudflare to avert possible distributed denial-of-service (DDoS) attacks. 

Withdrawal address whitelisting, which helps prevent transfers to unauthorized wallets. 

The exchange environment is hosted on AWS (Amazon Web Services), with its proven industry-leading digital and physical security track record. 

It is also worth noting that ever since its inception, the exchange has never been hacked. 

## Conclusion 

PrimeXBT is an easy-to-use platform with features, low fees, and leading leverage of 1:100. It is one of the best exchanges for traders looking to trade leveraged cryptocurrency instruments on an exchange that is transparent with relatively advanced technology and super secure. 

It is worth noting that the exchange is not available in [14 countries](https://primexbt.com/assets/documents/pdf/terms-and-conditions.pdf?rev=e331483b#:~:text=Restricted%20Jurisdiction%20%E2%80%93%20United%20States%20of,Saint%20Vincent%20and%20the%20Grenadines.), including the US, Canada, Japan, Russia, Israel, and Iran. 


blue image of blockchain with prime XBT logo overlayed

PrimeXBT Review 2023 

In today's digital world, where countless applications require access to personal data and resources, ensuring secure login control is crucial. OAuth2, an open standard protocol, provides a framework for granting secure connections to resources without exposing sensitive information. This article will delve into what it is, its key features, its benefits, and how it works. 

## What is OAuth2? 

[OAuth2](https://auth0.com/intro-to-iam/what-is-oauth-2) stands for 'Open Authorization'. It is a framework that enables users to grant restricted access to their protected resources to third-party applications, such as social media profiles, [cloud storage](/news/article/microsoft-crypto-mining-ban-cloud-services), or online banking accounts, without sharing their credentials. This framework separates the roles of the resource owner, the client application, and the resource server, ensuring a secure and controlled access mechanism. 

## Key Components of OAuth2 

![diagram of oauth2 protocol](https://s3.eu-west-2.amazonaws.com/prod-monitalks-media/Screenshot_2023_07_10_at_14_57_30_ff570f72f4.png)

- Resource Owners: These are the users who possess the data that needs to be accessed by a third-party application. For example, the user's social media account. 

- Client: This application requests entry to the user's resources, such as a mobile app. 

- Authorization Server: Its primary responsibility is to verify the users' identities and issue an access token to the client once the authentication process is completed. 

- Resource Server: This hosts the protected resources that the requesting application wants to gain entry on behalf of the user. It verifies the access token and grants a gateway to the requested resources if valid. 

## OAuth2 flow 

The platform provides different flows, or grant types, that determine how applications can obtain connection tokens and authenticate themselves to access protected resources. The most commonly used flows are: 

- Authorization Code Flow: This flow is commonly used for web applications. The client redirects the users to the[ authorization server](https://auth0.com/intro-to-iam/what-is-oauth-2), where they provide consent. Upon consent, they are redirected back to the application with a passage code, which then exchanges this code for a connection token, which is used to gain admission to the protected resources. 

- Implicit Flow: This flow is suitable for mobile and single-page applications. The access token is returned directly to the applications after the users' consent without an intermediate login control code. 

- Client Credentials Flow: This flow is used for machine-to-machine communication. The application directly authenticates itself using its credentials, such as an API key or secret, to obtain a passage [token](/news/article/how-to-get-summerswap). 

## Benefits of using OAuth2 

There are several benefits brought to developers, users, and service providers from using OAuth2: 

- Security: It protects users' privacy by not requiring them to share their passwords with third-party applications. 

- Efficiency: It is a more efficient way to login into user accounts than traditional methods, such as username and password authentication. 

- Flexibility: It can be used to gain entry to a wide range of services, including social networks, email providers, and cloud storage services. 

- Simplified integration: It provides a standardized and well-documented framework for developers to implement authentication and entry control. 

- Single sign-on (SSO) capability: It supports single sign-on, enabling users to authenticate once and connect to multiple applications seamlessly. 

## How does OAuth2 work 

The Authorization Server verifies and identifies the Client, providing it with credentials (ID and secret) as part of the authentication process. The application, such as a mobile app or website, initiates the access request, following these steps for token request, exchange, and response. 

![flow diagram](https://s3.eu-west-2.amazonaws.com/prod-monitalks-media/Screenshot_2023_07_10_at_14_57_04_c0fbf74ecb.png)

- Client requests access: The entity seeking access submits a request to the Authorization Server, providing its identification and secret credentials for authentication purposes. The entity specifies the desired scopes and supplies a redirect URI, indicating the location where the Access Token or Code should be sent. 

- Authenticating the client: It verifies the authenticity of the application and checks if the requested scopes are permitted. 

- Resource owner grants access: The individual who owns the resource engages with the Authorization Server to authorize access permissions for logging in. 

- Redirecting back to the Client: After the interaction with the Authorization Server, the application is redirected back, receiving either an Access Code or a Token for passage (depending on the grant type). Additionally, a Refresh Token may also be returned for future use. 

- Client requests resource access: With the passage Token in hand, the application requests to the Resource Server, seeking a connection to the desired resource. 

It's important to note that the above steps outline the general flow of the platform, and the specifics may vary depending on the chosen grant type. 

## Implementing OAuth2: Common use cases 

The common OAuth2 uses are as follows: 

- Social media integration: Enabling users to log in to third-party apps using their social media accounts, granting entry to basic profile information. 

- Mobile applications: It enables secure connection for mobile apps accessing APIs or user data on different servers. 

- Enterprise integration: The framework simplifies service and app integration within an enterprise, enhancing security and user experience. 

- Internet of Things (IoT): It authenticates and authorizes devices, enabling secure interactions between IoT devices and services. 

## OAuth2 Conclusion 

By implementing OAuth2, organizations can enhance [security](/news/article/chainlink-staking-to-boost-oracle-security), improve user experience, and foster interoperability in today's interconnected digital landscape. 


Understanding OAuth2: A secure authorization protocol 

His story is one of the humble beginnings to great success for Binance founder billionaire Changpeng (CZ) Zhao, a Chinese-born immigrant in Canada. 

From doing odd jobs that included flipping burgers at McDonald's to selling his apartment to go full throttle into Bitcoin, his mind-boggling story shows the power of hard work and persistence. Here's how CZ built the world's largest cryptocurrency exchange in just a few months. 

## The launch of a crypto leader 

The story of CZ Binance, his launch of a cryptocurrency exchange in July 2017, and its rise to the pole position globally after just 180 days is a testimony of the power of resilience. The computer science graduate from McGill University in Montreal, Canada, stormed the investment world by building Bloomberg's Tradebook and a state-of-the-art trading software for Tokyo Stock Exchange. After learning about Bitcoin (BTC) in 2013 while playing poker, CZ went all-in and sold his apartment to invest in BTC and remained steadfast even when the price plummeted from $600 to $200 soon after his purchase. 

Changpeng Zhao worked several jobs, including serving as a technology leader of Blockchain, a cryptocurrency wallet provider, and crypto marketplace OKCoin. Armed with $15 million from an Initial Coin Offering (ICO), CZ combined his education, love for crypto, experience, and the tech performance he had learned about high-frequency trading platforms to build cryptocurrency exchange Binance. Nonetheless, his persistence was out to test during Binance’s early days, significantly when the price of BNB, Binance’s native token, plummeted below the ICO price.  

CZ’s response to these teething problems was converting Binance into a [decentralized exchange](https://www.binance.com/en/blog/all/binance-dex-launches-on-bnb-chain-invites-further-community-development-327334696200323072) with an agile global workforce offering users unique benefits, including low fees and high volumes. Binance has, in a relatively short time, overcome enormous challenges and become a leading brand name in the crypto sphere, offering numerous unique products even as competitors fall by the wayside. Against all odds, Binance took just six months from its launch to become the world’s leading cryptocurrency exchange in trade volumes, a position it holds to date. 

## CZ Binance’s formative years  

Zhao’s compelling story begins when he arrives in Canada from China with his parents at 12. As his father pursued a doctorate and his mother did sewing jobs, CZ worked odd jobs at McDonald’s and Chevron, besides thriving in math competitions while in high school and later proceeding to University before joining the world of Fintech. Looking back at his life, you can’t fail to recognize the two huge factors that significantly contributed to the CZ Binance success story.      

## 1.   Geography 

CZ found himself at the right place and time in more ways than one. His parents relocated to Canada at a time when the country was a great launch pad, especially for young and talented young people from Asian countries. 

Armed with a university degree when he returned to China in his mid-20s, Zhao integrated the best of Asian and North American practices to penetrate the Shanghai tech scene at the beginning of the century. The additional math and coding skills he learned from his dad only became an extra feather in his cap.    

## 2.   The Dad  

The senior Zhao, the next significant factor that shaped CZ Binance, was a brilliant academic who, unfortunately, became a victim of the Cultural Revolution and remained on the periphery of the University for lacking proper English skills. 

Motivated by his father's dilemma and lessons gained from reading Robert Kiyosaki's bestseller "Rich Dad Poor Dad", CZ resolved to take a different path. The negative experiences that CZ's father endured must have been significant in shaping the future of the CEO of the world's largest cryptocurrency exchange. 

## A strong belief in the crypto ecosystem 

For CZ Binance, attaining and maintaining the pole position within the crypto space didn't become an end in itself. Everything about Zhao shows he saw launching the crypto exchange as the first step among many within the nascent crypto ecosystem. CZ has used emerging setbacks within the crypto space as a window of opportunity to provide solutions and services as the market demands. 

Some of the most significant moves include the development of the [BNB Chain](/news/article/bnb-chain-security-system) blockchain and transforming the initial crypto exchange into Binance DEX, a decentralized cryptocurrency exchange. As one of the pioneers that popularized the concept of decentralized exchanges, many would have expected Binance DEX to disrupt the platform’s operations. However, CZ’s team saw a chance to trail the blaze by creating an evolutionary and flexible option in the face of a dynamic crypto-landscape.   

## Conclusion 

There's clear evidence that Zhao's ethos of disruption isn't about to stop, when you consider the platform's other creations like Margin and Futures trading, [Binance NFT](/news/article/binance-nft-marketplace-explained), and other crypto services that give it a competitive edge. 

CZ Binance has a personal drive, stamina, and initiative that extend to his entire team, which has seen Binance serving over 180 territories and in more than 40 countries. 

CZ Binance: From Burgers to Bitcoin Billionaire 

CoinSwitch is a cryptocurrency exchange aggregator launched in 2017 that has made a name for itself, especially in the Indian digital asset market. However, its unique ability to help customers find the best crypto conversion rates across multiple trading platforms has earned it a significant global user base. 

## Pros and Cons 

There are several benefits to using [CoinSwitch](https://coinswitch.co/) for exchange aggregation. But there are also demerits. Here's a breakdown of some of the site's pros and cons. 

### Pros 

- The platform supports about 400 coins and actively trades at least 100. 

- Clients can benefit from a highly rewarding Bitcoin referral program. 

- User-friendly interface. 

### Cons 

- It is unavailable in the US and in US territories like American Samoa, Virgin Islands, St. Thomas, John, Croix, Puerto Rico, Guam, and North Marina Island. Traders from North Korea, Pakistan, Syria, Afghanistan, Iran, and Cuba can also not access the site. 

- The site does not support fiat deposits. 

## Services 

Besides CoinSwitch’s pros, which make the site quite popular, this aggregator has several other services that make it a preferred cryptocurrency trading site. Let's explore these services. 

### Payment Platform 
CoinSwitch serves as a payment service platform. Typically,  users can pay invoices in one currency, and the receiving party can get them in a different currency. 

Because the platform supports more than 100 cryptocurrencies, it is remarkably easy to swap these coins. 

The payment feature manages conversions and calculates how much clients will save when they choose cryptocurrency over traditional payments. This makes it highly appealing for businesses because it saves time and money. 

### Crypto Rupee Index 

The Crypto Rupee Index (CRE8) helps investors understand the Indian digital asset market. Its insights help predict market patterns and serve as a benchmark for cryptocurrency portfolios. 

CRE8 analyzes factors like innovation and digital asset adoption in the Indian market. This provides a local indicator and reduces dependence on international indices that may not accurately portray the market. 

### Systematic Investment Plan 

The [Systematic Investment Plan (SIP)](https://www.law.cornell.edu/wex/investor_protection_guide_systematic_investment_plan_(sip)) avoids [Bitcoin volatility](/news/article/bitcoin-volatility-price-drops) and price fluctuations for other cryptocurrencies. With this feature, users buy crypto at a fixed monthly price by setting the purchase date and the amount they're willing to spend on buying a token. The minimum acceptable amount is â‚¹100, or $12.11, while the maximum is â‚¹2,50,000, or roughly $3,027. 

## Supported payment methods 

Payments made on this aggregator can come from various payment methods. Currently, the exchange supports NEFT, RTGS, and IMPS payments. These are all bank transfer payment methods, but the aggregator guarantees they are convenient. 

Through these payment systems, customers can buy cryptocurrencies using USD, EUR, JPY, and RUB. 

## Transaction limits 

Transactions on this aggregator come with various limits. The exchange's lowest trade is $50, while the maximum is $10,000. There's also a $50,000 monthly cap on transactions. 

## KYC requirements 

To get an account, you simply need to sign in. However, users must complete a Know Your Customer (KYC) verification process to transact on the platform. Successful completion requires users to have the details listed below: 

- PAN card. 
- An Aadhaar, Voter ID, or Passport. 

CoinSwitch's KYC process does not allow a driving license. 

## Security 

Security is a major consideration on CoinSwitch. The site prioritizes multi-level security and advanced encryption. It also adheres to global best practices for [cryptocurrency trading](/learn). 

## Customer Support 

CoinSwitch has a consistent customer support team. Users can send an email explaining the support they need or raise a ticket on the website. However, the platform has a 3.0 rating on TrustPilot, meaning there may be a few inconveniences depending on the nature of a customer's complaint. 

## CoinSwitch conclusion 

CoinSwitch is a leading crypto exchange aggregator. It is a great platform for India-based traders but has features that global investors can benefit from. 

Besides notifying users of the best rates in the market, the aggregator offers a handy payment method, a crypto rupee index, and a systematic investment plan. 

Overall, the platform has a great user experience and is worth a shot. But do your research to understand whether it's your best choice. 

blue image of coinSwitch logo next to man trading

CoinSwitch: India's leading crypto exchange 

[Coinranking ](https://coinranking.com/)is a website that provides comprehensive data about digital assets. It offers insight into the latest crypto prices, cryptocurrency ranking, and different exchanges. It also allows users to list their cryptocurrencies and advertise their crypto projects to grow their community. 

## Coinranking roducts 

### API 

Users use it to add real-time prices of cryptocurrencies like BTC and [DOGE ](/coins/doge)or their own cryptocurrencies to their applications or websites. It also features more than ten years of historical data that users can use to create price charts in their apps. 

### Coinhodler 

The service allows users who prefer to hold on to their digital assets to easily keep track of them. It is free to use and totally anonymous. 

### Advertise 

Users can advertise on the platform to give their brand more exposure. Some of Coinranking’s advertising partners include Etoro, Coinzilla, Buysellads, and Coingaming. 

Coinranking also has an Android app and a Windows app. There is, however, no app for iOS devices. 

## Team 

The platform was launched in 2017 in the Netherlands by its three co-founders, Maarten Wiersema, Nick Pater, and Mark Kooistra. Maarten is the CEO, Nick is the Head of Development, and Mark is the Head of Product and Design. 

The three are supported by a team of professionals with skill sets crossing many fields of expertise. Team members include Wout Hoekstra, a full-stack developer, Irhas, a data entry operator, and Mosyi Johan, a business development manager. 

It is worth noting that as of 2022, the platform has moved its home from the Netherlands to Kuala Lumpur, Malaysia. 

 ##Listed cryptocurrencies 

There are thousands of cryptocurrencies listed on Coinranking. Some of them include Bitcoin (BTC), Ethereum (ETH), Tether USD (USDT), Cardano (ADA), Dogecoin (DOGE), and Solana (SOL). 

The coins are ranked by market cap. They are listed based on various categories including, BRC-20, SRC-20, ORC-20, meme, layer-1, AI, exchange, layer-2, and Web3 among others. 

Exchanges can also be listed on the platform. Exchanges are listed based on whether their daily trading volume is at least $ 5 million, have at least 500,000 visitors per month, and have a sizable following on social media, among other requirements.

## Competitors 

Coinranking faces stiff competition from [Coinmarketcap](https://coinmarketcap.com/), Coingecko, Coincodex.com, Coindataflow.com, and Coinmooner.com, among other crypto-ranking websites. 

It especially has some work to do to compete with the likes of Coinmarketcap and Coingecko, which are more popular. Launched in 2013, Coinmarketcap, for example, is the most trusted crypto-ranking website in the market. It is often referred to as the Wikipedia of crypto. 

## Conclusion 

Coinranking stands out as a simple cryptocurrency listing and ranking site accessible on desktop (Windows) and mobile (Android). It allows users to track more than 10,000 cryptocurrencies and features useful products like API and Coinhodler, which allow users to track their digital assets. 

The platform is not as popular as Coinmarketcap and Coingecko, but it is slowly getting there. Extra services like advertising, which allows users to advertise their projects and coins, are a plus and can help grow its user base. So far, it's doing pretty well compared to other coin-ranking sites. 

Two men reading a coin ranking on a computer screen. Green filter.

What is Coinranking? 

[Waves crypto](https://waves.tech/), like several projects that joined the blockchain-powered economy over the past five years, has contributed significantly to the decentralized finance (DeFi) and non-fungible token (NFT) sectors of the industry.  

While the project has seen millions of dollars in total value locked in its decentralized applications (DApps) and sales from digital arts stored on its blockchain, should you spend time on [Waves crypto](/news/article/is-crypto-dead) at a time when the market looks like it is on a downtrend?  

## What is Waves crypto?              

Waves is the blockchain and WAVES is the native asset behind the blockchain project.  

Founded in 2016 by Ukrainian-born Sasha Ivanov, a technology entrepreneur who helped create platforms such as indexing site Cooleindex and defunct-instant exchange Coinomat, the purpose of the platform is to allow stakeholders of the virtual currency market to create and launch custom crypto tokens.  

The stakeholders are not necessarily computer scientists or blockchain developers but anyone interested in creating and trading cryptocurrencies. 

This is because Waves was designed in a way where there is little need for a user to have extensive knowledge about smart contract programming.  

WAVES is a crypto coin that maintains and operates the network. It also plays an integral role in the creation of custom tokens. 

Like, [ether ](/news/article/ethereum-price-in-uk)(ETH), [bitcoin](/news/article/bitcoin-liquidations-spark-price-spike) (BTC), and other crypto assets, it also serves a function as the primary cryptocurrency used to pay for transaction fees. With an insight into the project, what pros and cons should you consider before risking money on the cryptocurrency? 

## Pros of buying Waves crypto 

- Supported by DApps – In 2018, Waves Mainnet saw the addition of smart contract functionality, which enabled the building of DApps by third parties. This has led to the creation of [DApps](https://defillama.com/chain/Waves?tvl=true) such as Vires Finance (lending), Neutrino (Index), WX Network (exchange), Pluto (reserve currency), Pepe Team sWAVES (liquid staking), and Swop (exchange). According to the project’s official website, these DApps have contributed to more than $200 million in value locked with Waves processing at least 23,000 daily transactions, and all-time transactions above 260 million. With other areas in DeFi, such as insurance and yield aggregation, yet to be triggered by developers contributing to the development of the platform's ecosystem, the addition of more competitive applications with real-world use cases could impact the price of WAVES positively in the not-too-distant future. 

- Supported by a strong NFT community – The digital collectibles market remains the most profitable for most traders in 2023. As of 6 June, 2023, it ranks 20th on the biggest NFT blockchains by all-time sales volume with approximately $24 million, data from aggregator [CryptoSlam](https://www.cryptoslam.io/blockchains) showed. While this value is relatively lower than competing chains such as Ethereum, Ronin, Solana, Flow, and Avalanche, among others, the Waves Duck sale became the highest-selling NFT outside of Ethereum. In April 2021, the NFT sold for [$1 million ](https://www.businesswire.com/news/home/20210415005612/en/Waves-Sells-Duck-NFT-%E2%80%9CPerfection%E2%80%9D-for-1000000-Launches-Duck-Hunters-Game-to-Incentivize-Participation-in-Waves-DeFi)and, at the time, beat sales from most digital art carved out of the NBA in Top Shots (housed on Flow). Many digital assets benefit from positive news about the NFTs housed in their respective ecosystems, and the native currency will be no different. 

- Supported by Enterprise – In 2019, [Waves Enterprise ](https://wavesenterprise.com/)was marketed by the development team. Unlike Waves which is tailored to the needs and interests of a decentralized world, Enterprise is primarily focused on institutions. Combining public and private networks, this platform ensures reliability, scalability, confidentiality, data immutability, and high throughput solutions. Enterprise provides deployment, consulting, and support services. Some of the use cases of Enterprise include employee motivation programs (human resource), digital lawyer of the year awards (e-voting), and cash pooling (liquidity, treasuring, and finance). Due to the numerous scam incidents that have mired the blockchain industry, having real-world use by institutions bodes well for the entire project. The effect is positive for traders associated with the currency who can see the possibilities of the chain reflected in the activities of real institutions. 

- Highly accessible – One of the primary factors to look out for is the accessibility of a cryptocurrency. Without it being available to millions of traders, liquidity (trading volume) needed to push the coin beyond the price you bought it to make gains will be lacking. As of 10:00 UTC on 6 June, 2023, the coin was supported by more than 40 exchanges and was available in over 90 markets. 

## Cons of buying Waves crypto 

- Infinite competition – There are around 25,500 cryptocurrencies on the market. There are several smart contracts-backed blockchain technologies in the market as well, thanks to the success of Ethereum. All these platforms are fighting for the same number of developers to add more DApps to their platforms and investors to pour liquidity into their tokens. 

## Conclusion

As a result, consider the risks against the rewards before buying the crypto. If the rewards of investing in Waves crypto outpace the potential risks of losing your hard-earned money, you can consider adding the coin to your investment portfolio.  

But beyond all things, do your own research before throwing money behind any digital currency due to its volatility. 

Blue image of a wave with wave crypto logo

Should you invest in Waves crypto in 2023? 

2022 was a tumultuous year for cryptocurrency firms as they navigated a deadly winter with fierce crypto contagion. Celsius, a crypto lending firm, was among the first to get deeply affected and thrown in the towel by filing bankruptcy in mid-2022. 

The Celsius bankruptcy case is nearing its conclusion as it has chosen a bidder to acquire its assets. 

In this article, we will explore the firm's future and what developments are expected in its offerings. 

## Fahrenheit wins the bidding war for Celsius assets 

Fahrenheit's crypto consortium won [the bidding war ](https://cases.stretto.com/public/x191/11749/PLEADINGS/1174905252380000000034.pdf)and acquired the bankrupt firm's assets on 25 May, 2023. 

It needed to deposit $10 million in cash within three days to acquire $2 billion worth of digital assets. These assets include staked cryptocurrencies, the mining unit, a loan portfolio, or any other investments of the Celsius crypto network.   

The Fahrenheit consortium includes two buyers; Arrington Capital, the venture capital firm, and the US Bitcoin Corp, a miner. It competed against NovaWulf and the Blockchain Recovery Investment Consortium (BRIC). Coinbase, Gemini, and Goldman Sachs were [also interested in the Celsius acquisition earlier.](/news/article/crypto-bubble-chart)  

Initially, NovaWulf was the top contender to acquire the assets, but its bid eventually lost. Meanwhile, the bankrupt lending firm has chosen BRIC as its backup. BRIC comprises Van Eck Absolute Return Advisers Corp and the GXD Labs. So, if Fahrenheit does not come through, there will be a backup for the lending firm.  

## A background of Celsius crypto network bankruptcy 

Celsius was one of the leading lenders in the crypto world in 2021. However, its involvement with Terra was risky for the firm and its users. In June 2022, after the Terra-Luna collapse, [Celsius halted withdrawals, swaps, and transfers](/news/article/celsius-crypto-freezes-withdrawals) as a speculation of the market. Later, it also faced accusations from ex-employees of fraud. 

In July 2022, it finally filed for [Chapter 11 bankruptcy](/news/article/celsius-bankruptcy-protection) in the US court. The decision was made after the lender went through a run as its withdrawals surged. The firm's collapse proved quite dreadful for the cryptocurrency market and affected many other venture capital companies, exchanges, and lenders.  

The lender formally began its auction in April 2022 to find a suitable buyer to guide it out of insolvency. And now Fahrenheit consortium might be able to manage its lending and mining businesses.    

## Will Celsius customers get their money back? 

Justice Martin Glenn, who was hearing the bankruptcy case, had announced in March 2023 that the Celsius users might receive a percentage of their deposited assets back. According to [a report by CryptoPotato](https://cryptopotato.com/celsius-customers-will-receive-up-to-72-5-of-their-crypto-back/), eligible customers may receive up to 72.5% of their funds back.  

The Custody account holders can claim their money, but the Earn investors are not eligible. If the customers want a complete 100% refund, they have the option of further litigation. Others can claim their funds in two parts, both consisting of 36.25%. Account holders can claim the first part upfront, whereas the second part can be received by the end of 2023 or in 2024. 

The Fahrenheit consortium will assist the refund procedure. It would provide its management team and capital to distribute the funds to account holders.  

## Will the Celsius crypto recover? 

As of writing, the CEL token's price is $0.2157 only, which has dropped by more than 70% within a year. The token was trading at $8.02 in 2021, but the market downturn of 2022 affected its price. 

The acquisition by Fahrenheit might bring an end to the insolvency struggles of the network. However, the future of Celsius crypto remains uncertain.  

The main reason behind it is the debts of the firm and its reputation. As of now, the NewCo has to deal with the debts first and refund the customers, so more investments in its crypto are unlikely. Besides, investors are hesitant to invest in the CEL coin because of the overall image of the cryptocurrency lenders in the market. 

celsius crypto logo on blue image of cryptocurrency coins

What’s the future of the Celsius crypto network? 