The UK’s Financial Conduct Authority (FCA), said it plans to implement a few changes. One is about the caps on individual Bitcoin holdings, while the other regards the way of how risky assets can be marketed.

According to the [official document](https://www.fca.org.uk/news/press-releases/fca-clamps-down-marketing-high-risk-investments-consumers), companies will be obliged to use more blatant warnings of cryptocurrencies being risky investment options. Also, all incentives to invest in crypto, such as referral bonuses, are becoming banned. New guidelines are, for now, limited to marketing of high-risk financial products such as some speculative illiquid assets, and peer‑to‑peer (P2P) platforms. However, even though guidelines don’t apply to cryptocurrency ‘per se’, the FCA warned they are also considered to be very risky.

The FCA asserted people are investing in digital assets without understanding how volatile and, therefore, risky this is – just because “a friend” referred it to them. Therefore, the FCA advised all potential investors, not to put more than 10% in risky assets. 

After the recent crash of the crypto market that washed out almost $2 trillion of the market, the regulator said that it is now, more than ever, be assured cryptocurrencies are a very speculative and high risk asset class.

“Consumers should only invest in crypto assets if they understand the risks involved and are prepared to lose all of their money. We expect to take a consistent approach to crypto assets that is taken for other high risk investments,” the report said.

## FCA says all directions must be clear and simple

The FCA’s executive director for markets, Sarah Pritchard, said it’s important for people to be able to “invest with confidence, understand the risks involved, and get the investments that are right for them which reflect their appetite for risk”.

Recently, however the United Kingdom said it would like to become a [global crypto-asset hub](https://news.monitalks.io/news/article/fca-crypto-regulation). It will be interesting to see how the development of the FCA’s regulation heightens or hinders the crypto industry in the United Kingdom.

The FCA added it “looks forward” to the direction given by the authorities of how crypto marketing should look and that the “qualifying of cryptoassets” rules would follow after the legislation is complete.

Pritchard added that all the risk warnings must be easy to follow and written in simple language so all can understand them.

 “Where we see products being marketed that don’t contain the right risk warnings or are unclear, unfair or misleading, we will act,” she added.



UK FCA: Crypto investments are risky

There are around 500 crypto currency exchanges in the industry today. Unfortunately, not all of them are great platforms for your hard-earned money. 
As per  our analysis, you should always consider factors such as trading volume, scalability of the platform, security, insurance, customer service, geographical restrictions, and fees among others before settling on an exchange. 

As a result, MoniTalks has identified eToro and Coinbase as the best cryptocurrency exchanges in the United Kingdom and they continue to trend on the social media platform, Reddit. 

## eToro ― Overall Cheapest Crypto Exchange UK 

Launched in 2007 as a multi-asset trading platform, [eToro](https://www.etoro.com/) provided services under the stock, commodities, exchange-traded funds (ETFs), and indices banner before making the foray into cryptocurrencies in 2013. eToro serves around 27 million customers in over 100 countries. 

As of July 2022, supports more than 60 cryptocurrencies including Bitcoin (BTC), Ethereum (ETH), Cardano (ADA), Bitcoin Cash (BCH), Ripple (XRP), Stellar (XLM), Litecoin (LTC), DASH, Uniswap (UNI), and Chainlink (LINK). 

Unlike other places of buying digital assets that have been mired in regulatory problems with the [Financial Conduct Authority](/news/article/fca-crypto-regulation) (FCA) of the United Kingdom, the trading platform is registered as eToro UK with company registration no. 7973792. This certifies eToro as the most credible place where you can trade digital assets in the United Kingdom. 

Among the pros is a demo account to help you learn how to trade using virtual funds. Additionally, eToro is extremely accessible and can be found via the Google Play and Apple Store on Android and iOS-powered devices. 

After being in the traditional and decentralized finance trading sector for more than 15 years, eToro has not been involved in any cyber security issues due to the level of its security systems. It continues to operate without incident. 

Moreover, the platform supports several payment methods such as bank transfers, bank cards (MasterCard, Maestro, and VISA), and e-wallets such as Skrill, PayPal, Neteller, and co. With this, you have a range of alternatives to choose from. 

eToro is among trading platforms that have low fees (deposits, trading, and withdrawal). 

The exchange continues to see millions of dollars in daily volume and recently launched eToro Crypto Portfolio, a basket of high-yielding coins. With a single investment, you can see consistent periodical yields.

Despite the positives, eToro is not a traditional cryptocurrency exchange, and dormant accounts are subject to inactivity fees. 

## Coinbase ― User-Friendly Bitcoin Exchange 

Founded in 2012, [Coinbase](https://www.coinbase.com/) can be accessed in the United Kingdom and is one of the biggest cryptocurrency exchanges by daily trading volume. On 14th March 2018, Coinbase announced via a blog post that it is the first exchange to receive an e-money license from the FCA. 

Overall, there are 98 million verified users, 230,000 ecosystem partners, and 13,000 institutions in more than 100 countries. 

The exchange supports more than 50 cryptocurrencies which include the top 20 digital assets by trading volume. It offers low minimum deposits, several payment methods such as PayPal, and offers a very advanced trading platform. 

Other Honorable Mentions of the best crypto exchanges in the UK include but are not limited to, Binance, OKX, Bitstamp, Crypto.com, Kraken, Gemini, Gate.io, KuCoin, and Bittrex. 


Best UK Crypto Exchange according to Reddit

Israeli authorities implemented further restrictions on cash payments to combat illegal activity and promote the use of [digital payment methods](/news/article/mastercard-crypto-asia).

Due to the Law for the Reduction in the Use of Cash, which came into effect in January 2019, businesses and consumers in Israel are no longer allowed to make payments in cash.

People and businesses are encouraged to use digital payments, making it easier for the government to track illegal activity, tax evasion, and money laundering in the country's black market and elsewhere.

According to the Israeli Central Bank, 6,000 New Israeli Shekels (NIS) for business transactions and 15,000 New Israeli Shekels (NIS) for personal transactions will be the [new limit for cash payments](https://cointelegraph.com/news/israel-puts-the-brakes-on-cash-to-spur-digital-payments) effective August 1, 2022. Additional restrictions, such as a ban on storing more than NIS 200,000 shekels ($58,660) in cash in private residences, are expected shortly.

According to Tamar Bracha, the Israel Tax Authority's (ITA's) head of law enforcement, limiting the availability of cash will make criminal activity more difficult. As a result, "the goal is to reduce market cash fluidity, particularly because criminal organizations tend to rely on cash."

Some have interpreted it as a positive sign of the country's new limits on hard-cash transactions. According to Lark Davis, a crypto influencer with over a million followers on Twitter, Israel is neither the first nor the last country to impose such restrictions. According to the founder of Lyn Alden Investment Strategy, the trend "will probably continue to other countries in the future."

## Cryptocurrency regulation and CBDCs

Central bank digital currencies (CDBCs) are also being explored in the region, with the country first considering a CBDC at the end of 2017. After conducting a public consultation in May, the Bank of Israel released the results of the responses, which indicated strong support for further research into CBDCs and how they would affect the payments market, financial and monetary stability, and legal and technological issues.

In June, the Bank of Israel revealed that it had conducted its first technological experiment with a CBDC, examining user privacy and the use of smart contracts in payments. In addition, a framework for regulating digital assets is being developed in the country.

According to Oz Finance's Jonathan Shek at this year's Israel Crypto Conference in May, Israel's financial regulators have prepared a comprehensive and holistic regulatory framework for digital assets.

Shek hinted that it would happen soon, but he didn't give a specific date, saying that the Israeli government wanted to encourage the development of the crypto industry in their country if it was done responsibly.


Israel halts cash to encourage digital payments

US and UK crypto regulation authorities collaborate to foster and regulate the cryptocurrency and NFT market. The joint forces of these countries will be working on different initiatives to regulate crypto. This recent development will focus on promoting stablecoins and bringing financial innovation. 

Recently, the US Department of the Treasury released a joint statement regarding the UK and US collaborative financial regulatory working group. The virtual meeting was held on 21 July. 

The HM Treasury and the [US Department of the Treasury](https://home.treasury.gov/news/press-releases/jy0888) members took part in the meeting. Besides, the Bank of England (BOE), the Board of Governors of the Federal Reserve System, the Financial Conduct Authority (FCA), the Commodity Futures Trading Commission (CFTC), the Office of Comptroller of the Currency (OCC), the Securities and Exchange Commission (SEC), and the Federal Deposit Insurance Corporation (FDIC) were also part of the meeting. 

## US and UK crypto regulation focus points

In general, the crypto regulators from the UK and US discussed seven themes. These include a cooperative international and bilateral approach, financial innovation, secure financing, and non-bank financial intermediation (NBFI). Moreover, benchmark transition, operational resilience, and developments in the Russia-Ukraine war. 

The Working group meeting established that it will focus on promoting financial stability to reduce the risk and uncertainty from the market. Regarding the issue of Non-Bank Financial Intermediation, the meeting decided that liquidity risk management must be prioritised. 
Besides that, the Working Group also discussed the situation of stablecoins in detail. The developments in central bank digital currencies (CBDCs) were also a key discussion point. For this, all participants showed commitment to promoting safe monetary innovations and regulatory measures for stablecoins that can be followed throughout the jurisdiction. 

The officials from both countries acknowledged the importance of the US and UK crypto regulation partnership. Also, the members from both sides pledged that they would work together to introduce long-term crypto-asset regulations for a robust and safe market. Earlier, UK lawmakers confirmed to broaden [property rules](/news/article/uk-assess-crypto-law) to the crypto space and NFT. Such developments will help the government in becoming a crypto hub in the future. 

US and UK crypto regulation officials join forces

There are plenty of ways to make money from growing your crypto portfolio through crypto lending, HODLing, mining, etc. However, one can grow crypto through staking, airdrops, interest accounts and gaming as well. 

Here we’ll be explaining some basics of growing your crypto but don’t forget – before any new investment, be sure to DYOR (Do Your Own Research) as well.

## Crypto Lending

Crypto lending could enable you to generate an extra revenue stream without much effort. 

Basically, if you already have some cryptocurrencies stashed in your wallet, you can lend them to other crypto users or platforms. 

[DeFi](https://www.ledger.com/decentralized-finance-defi/) protocols have become massively popular nowadays. And why wouldn’t they? Via DeFi protocol, an average user can get an instant loan without having to wait in a queue, read small letters on 100-page agreements, sign tons of documents, or find three bondsmen and put the second mortgage on the house.

On DeFi platforms, so-called smart contracts replace third parties and enable users to lend and borrow digital assets from each other.

Smart contracts are smartly coded transaction protocols meant for automatically executing, documenting or controlling operational processes (i.e.borrowing or lending money) as per the signed terms of a contract or an agreement. No human intermediary is necessary as the whole is fully automated. 

To completely secure your investment, you can lend out stablecoins and generate around 1 to 11% APY. 
 
However, it’s important to understand what collateralized loans are. Basically, they’re making sure a borrower doesn’t just take your money and run.

Most crypto lending platforms are, therefore, dealing with over-collateralized loans. It means that a certain lending protocol needs you to collateralize your loan with some crypto minimum. (e.g. 150% of ETH). If a borrower takes $1,000, he automatically locks no less than $1,500 worth of ETH as collateral. 

This is to make sure the lent funds are safe even if the borrower cannot pay back the loan.
You can lend your crypto in multiple ways. 

Decentralized protocols will lend your cryptocurrencies for a set interest rate and it will generate interest for you. Because there are no intermediaries, you get bonds (usually tokens) through the smart contract and they act as proof of the amount you lent. 

However, if this sounds too complicated, you can always choose to lend your crypto through centralized platforms. However, that would mean you’re not really the crypto owner and you could even pay a service fee. 

## Crypto Staking

One of the simplest ways to increase your crypto portfolio is crypto staking.

Staking offers an exciting opportunity to receive rewards for participating in blockchain validation. However, while it may seem simple and easy to get involved, staking is more complex behind the scenes and introduces unique risks.

One of the factors that differentiate cryptos from fiat money is that the people who use them are the ones operating them. Bitcoin, for example, completely depends on its numerous network participants (nodes) to work in balance via [consensus protocol](https://www.ledger.com/academy/consensus-protocols-how-are-blockchains-secure) called proof-of-work. 
 
## What is a Proof of Work?

Those who run fully operating Bitcoin nodes a.k.a. miners, put all recent transactions in the form of a block of data and repeat the process every ten minutes (so-called Poisson process). Each block has to refer to the previous block to become verified. After a block is mined, it is not visible right away, and until they find out about it, miners are competing against the new block instead of adding to it.

The [Bitcoin](/news/category/bitcoin-news) network uses a proof of work (PoW) mechanism to achieve the mentioned consensus.

Even though this can sound a bit complicated - the main concept is pretty simple.

We obviously cannot be sure of the exact identity of the miners to decide who will be the next block's creator so we can create a hard-to-solve puzzle that needs a lot of work to be answered but can be verified and checked very quickly.
To solve the puzzle, miners have to find the right hash (a unique code for a text or data file). They have to spend a decent amount of their resources on hardware components and electricity for that manner, but the award for each new block they find is – a Bitcoin.

## What is Proof of Stake?

Popularized back in 2011, the Proof of Stake (POS) consensus algorithm was presented as the solution for all the problems Proof of Work might have had.

The PoS consensus mechanism eliminates the high computational and energy requirements of the PoW. This upgrade in the consensus mechanism has been dubbed Ethereum 2.0 as it enables Ethereum network nodes to comply with the state of all previously recorded information on the Ethereum blockchain and avoid possible economic attacks.

Proof of stake demands that miners invest in and hold on to some store of value without the immediate need for spending energy in order to vote.

The PoS algorithm uses a pseudo-random selection process to choose a node that will validate the following block regarding various factors such as the staking age, randomization, and the node's wealth.


## Yield Farming

During the so-called Defi Summer of 2020, yield farming became pretty popular while crypto participants hurried to become “yield farmers.”  

Some DeFi protocols kept rewarding their early adopters with retrospective airdrops, giving users free tokens with a high Annual Percentage Yield (APY) as gratitude for using the protocol first. They were also urging the next phase of the platform’s growth with liquidity mining programs.  

Crypto APY is a  number high enough to attract yield farmers and liquidity providers to one platform over another.

## HODL

The word HODL (from the English HOLD, but misspelled refers to the decision to acquire an asset and keep it in the longer term). 

The whole strategy is based on buying cryptocurrencies at low prices so that you can earn gains when, in the future, the value of this cryptocurrency increases.

Analysis show that HODL came out to be one of the most profitable investment strategies, especially when it comes to Bitcoin HODL-ers. 


Guide to crypto lending, staking and HODLing

There are two types of crypto currency wallets, namely hot and cold storage wallets. Keys are used in hot wallets (a type of cryptography, like a password). They are produced or kept on a connected device and are less secure than cold wallets.

A cold wallet is a storage option that does not have internet access. They are also known as [Hardware wallets](/news/article/cryptocurrency-hardware-wallet) since they employ physical media, generally in the form of a USB stick. It is the most secure sort of wallet since hackers would need access to your device and the related PIN/Password.

There are several hot/cold crypto wallets for multiple currency storage in the market, making it difficult to select an ideal wallet for your crypto storage requirements. For your convenience, we have reviewed a curated list of top hot and cold crypto wallets to store multiple currencies in 2022.

## 1.	Coinbase Wallet
If you're new to cryptocurrency, the Coinbase wallet must be your go-to simple hot wallet. This is free, easy to use, and linked to the exchange, implying that these crypto wallets supports multiple currency storage. It supports hundreds of cryptocurrencies and is noncustodial, which means you keep ownership of your private keys.

## 2.	Trezor
When it comes to hardware wallets, the [Trezor](https://trezor.io/) is a name that is often mentioned. Developed by SatoshiLabs, this wallet is one of the most popular on the market, and for a good reason. It's easy to use, making it ideal for those who are new to cryptocurrency.

The Trezor can store a wide range of coins, including Bitcoin, Ethereum, and Litecoin, and can be used on both Windows and Mac operating systems. Plus, it integrates with a number of online exchanges and wallets, making it a great all-around option.

## 3.	Ledger Nano S
Ledger Nano S is one of the best hard wallets around. This small, USB-sized device is a secure way to store your cryptocurrency offline and can be used to sign transactions and check your balance.

The Ledger Nano S is a great option for those who want to keep their cryptocurrency safe. These wallets are hosted by third-party providers and offer a variety of features, including support for multiple cryptocurrencies, 2-factor authentication, and backup options.

## 4.	GreenAddress
When it comes to hardware and online crypto wallets, GreenAddress is a name that stands out from the rest. This wallet is well-known for its user-friendly design, security features, and support for multiple currencies.

One of the things that sets GreenAddress apart is its multi-signature technology. This means that you need more than one key to access your funds—even if someone gets their hands on your wallet, they won't be able to steal your coins. Plus, GreenAddress offers 2-factor authentication and a host of other security features to keep your funds safe.

If you're looking for a reliable and user-friendly online crypto wallet, GreenAddress is a great option.

## 5.	MetaMask
To trade your cryptocurrency, a hot wallet is necessary since it will make transactions easier and faster. With that in mind, [MetaMask](https://metamask.io/) has been popular among cryptocurrency traders since it provides fresh entry points into the Web3 realm.

MetaMask supports numerous Ethereum-based blockchain networks (including Binance), NFTs, and all Ethereum-based coins. It's a popular, simple wallet that works with everything built on Ethereum, which accounts for a sizable portion of the Web3 world. These qualities, when combined, provide it an advantage over competitor wallets.

You can use Metamask to store NFTs and other collectibles, as well as to swap or acquire tokens and coins in combination with a hardware wallet (such as Trezor or Ledger). So, if you want to learn more about NFTs and the metaverse, MetaMask is a good place to start.
There are a lot of different crypto wallets to store multiple currencies out there, and it can be tough to figure out which one is right for you. Hardware wallets are a great choice if you're looking for maximum security. They're offline, so your coins are safe even if the internet goes down, and they're immune to viruses and hacking attempts. Online wallets are great for convenience - you can access them from anywhere in the world, and they're perfect for small transactions or everyday use.

The choice of crypto wallets depends on the investors needs. Every investor is unique, so conduct extensive research on all of the crypto wallets that support multiple currencies on the market and choose the model that is most closely matched with your investment activity and goals.


Latest Moni

Crypto Business News | Page 5

Read the latest crypto business and market news from around the world.

UK FCA: Crypto investments are risky

Best UK Crypto Exchange according to Reddit

Israel halts cash to encourage digital payments

US and UK crypto regulation officials join forces

Guide to crypto lending, staking and HODLing

Top crypto wallets that hold multiple currencies

Zipmex Gets 3-Month Creditor Protection

Reddit Crypto Exchange Partnership with FTX

Polkadot blockchain and altcoin explained