Following the collapse of FTX last month, pressure is rising on US regulatory body the SEC to beef up enforcement of major crypto sector centres. 

The failure of [FTX](https://www.wsj.com/articles/sec-faces-calls-to-boost-crypto-exchange-enforcement-after-ftx-collapse-11670474070) focused attention on crypto exchanges, which serve as key hubs for individual investors and provide services such as digital-coin sales, financing, and asset storage. Despite spending more than six years studying various sector aspects, the Securities and Exchange Commission regulatory agency still needs to sue a major cryptocurrency exchange.

According to sources familiar with the topic and regulatory disclosures, the [SEC](/news/article/xrp-vs-sec-lawsuit-update) is investigating exchanges such as Coinbase Global Inc. and the US operations of Binance and FTX. It has penalised or sued dozens of token creators over the past six years.

According to the SEC, several cryptocurrencies qualify as [securities](/news/article/sec-vs-ripple-news) that should have traded under stock and bond laws. The firm's Chair Gary Gensler says that exchanges are breaching the law by selling unregistered securities and failing to follow standards that the NYSE and Nasdaq Stock Market follow.

## Lawyers believe SEC crypto enforcement is not enough

Some attorneys argue that, despite such claims, regulatory enforcement measures have yet to go far enough as the sector has matured and ordinary people are committing their assets to crypto enterprises. Mr Gensler risks substantial criticism if he does not get things going", according to the report "former SEC enforcement attorney John Reed Stark.

It was a flaw in their plan not to pursue these entities, Mr. Stark explained. 

The exchange kept trading six assets after the SEC sued a former Coinbase employee in July, alleging that the business sold seven improperly issued securities. They could have sued Coinbase, but they chose not to. According to a Coinbase spokesperson, the company thinks that none of the six digital currencies are securities.

## Crypto exchanges believe SEC is using the wrong crypto enforcement laws

According to industry lawyers, the SEC crypto enforcement approach is exhibiting signs of wear and tear after years of the SEC utilising its enforcement arm to drive the industry into its supervision.

According to some industry attorneys, the activities of cryptocurrency exchanges are so unlike those of stock exchanges that compliance with their standards is impossible.


sec logo with hands shaking in the background

SEC Crypto Enforcement Warning

The Crypto sector is highly volatile and mysterious. The latest secret is the ownership of the [Huobi exchange](https://www.huobi.com/en-us/). 

According to tracker CoinGecko, China-based Huobi Global continues to produce a notable daily trading volume of more than $300 million despite losing its position as the world's leading exchange.

On 7 October, the Huobi exchange platform [announced](https://www.prnewswire.com/news-releases/huobi-globals-major-shareholder-completes-share-sale-301644102.html) that About Capital Management (HK) Co. Ltd, a [Hong Kong](/news/article/crypto-hong-kong-etfs) based-asset management company, had become the exchange's controlling shareholder following a successful buyout deal.

While the transaction of an unrevealed amount crowns About Capital as the new controlling shareholder, the [exchange](/news/article/best-exchanges-for-crypto-uk) stated that the transition would have no impact on core operations or business management teams.
About Capital also revealed plans to create a global strategic advisory board "led by leading industry figures", in addition to other initiatives such as establishing a margin and risk provision fund and measures to improve the exchange's competitiveness.

## Justin Sun - The probable owner

According to reports, Justin Sun spent about $1 billion to acquire roughly 60% shareholding through the [Hong Kong](/news/article/is-crypto-legal-in-hong-kong)-based asset manager About Capital.

Sequoia China and ZhenFund transferred 28% of their ownership in Huobi Global to About Capital. According to insiders, Justin Sun hid his name from the agreements to avoid Chinese scrutiny.

Huobi Global rebranded to "Huobi" because Justin Sun's previous acquisition agreement prohibited shareholders from using Chinese trademarks or conducting business in mainland [China](/news/article/china-crypto-ban).

People familiar with the matter revealed a strict agreement between all parties in this equity transfer agreement regarding trademarks, particularly the use of the Chinese brand "Huobi".

In October, it was reported that the controlling shareholder of the exchange completed the share sale, making About Capital's M&A fund the new controller. Justin Sun joined the Global Advisory Committee of Huobi Global and repeatedly stated that he was not the buyer of Huobi.


Huobi Exchange - Who Owns It?

FTX’s [decline](/news/article/ftx-bankrupt-who-to-blame) has rattled the crypto market. Digital asset lending firms and exchanges are at the receiving end and falling like houses of cards. The [Gemini crypto exchange](https://www.gemini.com/) of the Winklevoss twins has also become one of the victims of FTX contagion. 

On 16 November, Gemini's Earn product experienced delays in withdrawals due to an outage. Curiously, the outage occurred just after its partner, [Genesis Global](https://genesis.global/), suspended withdrawals on its platform. Genesis took the step in the wake of the fall of the [Sam Bankman-Fried](/news/article/sam-bankman-fried-lost-billions) corporation.  

Earlier, the firm acknowledged its partner’s suspension of withdrawals in a [Twitter thread](https://twitter.com/Gemini/status/1592873279232278532). It also announced that its team is working with the crypto lender to ensure quick recovery of funds of the Earn program. 

It assured its clients that these events would not affect the activities on the [Gemini](/news/article/gemini-crypto-review) platform. However, a couple of hours later, it experienced an outage that shook investors' trust.

## Gemini crypto exchange outage caused $485m outflows

The server outage on the platform halted the operations affecting the withdrawals and deposits. However, it has only been down for about an hour. Per its official statement on Twitter, the disruption occurred at its primary databases due to the Amazon Web Services EBS.

The exchange's team swiftly recovered it and announced it was "fully back online".

![gemini exchange tweet](https://s3.eu-west-2.amazonaws.com/prod-monitalks-media/geminitweet_50471f672f.webp)
 
Moreover, it reassured its users about the safety of their funds. Nonetheless, the disruption created panic among the users, which resulted in mass outflows. 

According to [Nansen](https://www.nansen.ai/), the blockchain insights firm, more than $485 million has been withdrawn from the exchange in the past 24 hours. This is the highest outflow for any exchange in the same period. On the other hand, the inflows for the platform were only $78 million.  

## The unstoppable FTX contagion

Gemini and Genesis Global are just some digital asset service providers that suffered after the FTX collapse. Various other firms are moving towards insolvency. Crypto lenders [BlockFi](/news/article/ftx-collapse-blockfi-suspend-withdrawals) and SALT are recognised names among them. This collapse may affect many other significant firms in the future as investors' confidence seems to be shaken.


Gemini crypto exchange falls prey to FTX contagion

The crypto lending firm, [BlockFi](https://blockfi.com/), certainly finds itself in hot waters after the [FTX collapse](/news/article/ftx-collapse-blockfi-suspend-withdrawals). Recently, it suspended withdrawals from client wallets and interest accounts. It is also facing a severe liquidity crisis as the [FTX exchange](/news/article/ftx-exchange-under-investigation) crashed. There are reports suggesting that the firm plans to lay off its workforce. So, is BlockFi bankrupt?

## Is BlockFi bankrupt?

Earlier, the firm denied having a line of credit of around $400 million from FTX. However, later it accepted its affiliation with the crashed exchange. The [Sam Bankman-Fried](/news/article/sam-bankman-fried) owned exchange provided this fund to BlockFi to bail it out in July. As the business has collapsed, it has again created financial problems for the crypto lender. 

Rumours suggest that the crypto lender is pondering filing for insolvency amid this situation. Other than that, it may even sack some of its employees to cut down its expenses. 

Moreover, it has already restricted activities on the platform, suspending withdrawals for its clients. These moves indicate that the firm might have to move towards complete closure. 

## Impact of FTX crash on other crypto firms

FTX collapse has rattled the entire crypto market. BlockFi is not the only platform that is facing issues after the decline of Sam Bankman-Fried’s exchange. Another digital asset lending platform, SALT, has also paused deposits and withdrawals. It has notified its users that “in light of recent industry events”, the firm has taken this step.

![blockfi.png](https://s3.eu-west-2.amazonaws.com/prod-monitalks-media/blockfi_d647bef6a0.png)
 
Furthermore, [SALT](https://saltlending.com/) has admitted that the fall of [SBF companies](/news/article/sam-bankman-fried-lost-billions) has also affected its business. Therefore, it is taking this step as a precautionary measure. However, the platform’s CEO, Shawn Owen, has clarified that it is [not going bust](https://twitter.com/Shawn_OwenJ/status/1592586857509896192). This is a temporary measure. It is to examine how much the events have affected the platform. Nonetheless, it will be effective immediately to limit potential risks.



Layoffs, & paused withdrawal: Is BlockFi bankrupt?

The FTX exchange is being investigated for mishandling consumer funds and violating securities regulations. Regulatory investigations were among the primary reasons Binance decided not to acquire the firm.

## FTX exchange agreed to sell to Binance

After undergoing the cryptocurrency equivalent of a bank run, the [crypto business](https://fortune.com/crypto/2022/11/10/ftx-sam-bankman-fried-doj-sec-examining-source-says/) decided earlier this week to sell itself to a larger rival, Binance. Customers abandoned the exchange after getting worried about their capital.

## Why is SEC investigating the FTX exchange?

The [cryptocurrency market](https://www.reuters.com/technology/us-probes-ftx-over-handling-client-funds-bloomberg-news-2022-11-09/) has been volatile, with worries over the company's financial stability leading to $6 billion in withdrawals in the 72 hours following Tuesday morning. Binance later announced a [non-binding deal](https://www.reuters.com/markets/currencies/cryptocurrencies-slide-concerns-over-ftx-exchange-rattle-markets-2022-11-08/) to purchase FTX's non-US business to address a "liquidity constraint" at the rival exchange.

According to the source, the SEC is also looking into the business's ties with its US equivalent FTX US and Chief Executive Officer Sam Bankman-Fried's trading firm. The SEC does not want to speak on the existence or nonexistence of a prospective probe, said an SEC representative. A CFTC spokeswoman declined to comment as well.

The crypto community's and securities authorities' inquiry into [Bankman-Fried](/news/article/sam-bankman-fried-lost-billions) and his crypto company are centred on the potential that the firm utilised client deposits to support bets at Bankman-hedge Fried's fund, Alameda Research. Brokers in conventional markets are supposed to keep customer cash apart from other firm assets. Regulators can punish violations. 

An individual acquainted with the [FTX and Binance](/news/article/ftx-vs-binance-liquidate-funds) transactions described them as a "black hole" in which it was hard to distinguish between assets and liabilities. This individual said Bankman-Fried committed the "ultimate sin" by using custodial assets to support Alameda Research.

## Gensler's view on FTX exchange

Under Democratic leadership, the SEC has increased its examination of the cryptocurrency industry. Chair Gary Gensler has already expressed concerns about whether crypto platforms effectively separate funds and if their market-making operations are trading against their clients.

Earlier this year, a cryptocurrency start-up BlockFi Inc subsidiary [agreed to pay](https://cointelegraph.com/news/blockfi-limits-platform-activity-including-a-halt-on-client-withdrawals) a record penalty to resolve allegations connected to its retail lending product. Other organisations, like FTX, enable users to "stake" certain cryptocurrency tokens in exchange for a return.



FTX Exchange Under Investigation

[Dex Labs](https://www.dexlab.space/) is one inventive decentralised exchange built on the [Solana network](/news/article/solana-price-gbp). The company is based in Korea and launched in May 2021.

It is a unique platform as it offers an infrastructure that allows token minting on Solana. It has an easy-to-navigate interface which makes token launching seamless. Because of this, users on the network have easy access to new tokens.

Furthermore, the exchange offers a cross-chain swapping feature and allows instant transactions. With its native token, you can also earn yields by staking them.  

## Dexlab offerings

This platform is inspired by the Project Serum on the SOL blockchain. This project itself has many parallels with [Uniswap](https://uniswap.org/). Like both these platforms, Dex Labs offers swift and efficient transactions. It also allows swapping and supports stablecoins and [wrapped tokens](/news/article/weth-vs-eth). 

With all these features, Dex Labs offers various products. These products facilitate trading and allow secure storage of your assets. Let's explore some of its offerings.

1.	Trading and swapping

Dexlab is a complete platform for trading or swapping assets. It provides users with market analytics leveraging Serum technology. It also presents data in visuals which assist you in reading it with ease. 

2.	Wallet

You can not only trade on the platform but can also keep your assets on it. It offers a secure wallet with a multi-chain feature. Therefore, you won’t have to use third-party wallets while making trades.

3.	MintingLab

One of the best features of the platform is its minting capability. On its MintingLab, you can issue Solana-based tokens. Meanwhile, its user-friendly interface makes listing and management relatively straightforward.

4.	IDOs

As new projects can be launched on the platform, users enjoy initial decentralised exchange offerings. That’s why it can be a great way to explore or acquire nascent coins on the blockchain.

5.	Staking

[Staking](/news/article/what-is-staking-crypto) is a popular way among investors to generate good yields. And this platform has a high-yielding staking program. You can use your DXL tokens to receive weekly incentives. Besides, you can also avail of the airdrops and participate in the liquidity pool.

## What is Dex Lab's launchpad?

Dexlab is architectured on Solana and introduces a minting platform for new tokens. It has an intuitive interface that allows a smooth user experience. Also, it enables you to integrate the Solana CLI with it.

This eases the coding process for you. On this platform, you can also mint tokens and [mint NFTs](/news/article/solana-nft-marketplace) (non-fungible tokens). 

## DXL tokenomics

DXL is the native token that fuels the platform. It is used for Dex labs’ governance and facilitates all transactions. There are 1 billion DXLs with a current market cap of [$3,957,867](https://coinmarketcap.com/currencies/dexlab/). 

The tokens are allocated for several purposes. Among them, the highest part (19.5%) goes to the mining pool reserve. 

![dex labs.png](https://s3.eu-west-2.amazonaws.com/prod-monitalks-media/dex_labs_c91fa275c4.png)
 
[Source](https://docs.dexlab.space/dxl-token)

## Bottom line

DexLabs is an entirely decentralised exchange in the Solana ecosystem. The platform is not only beneficial for crypto investors but is handy for issuers, too. Along with the trading analytics and swapping features, it also introduces its own [wallet](/news/article/best-crypto-wallet). Meanwhile, its IDOs and staking program allow high yields.



Solana Dex Labs Explained

[THORSwap](https://thorswap.finance/) is a decentralized cross-chain exchange built on THORChain, a decentralized liquidity protocol. It allows users to swap multiple cryptocurrencies on different blockchains in a non-custodial manner. THORSwap also serves as a DEX aggregator to support a broader range of assets.

## History

THORSwap’s history begins in April 2021 when it was built on top of MCCN - THORChain’s multi-chain chaosnet. This was a few months (July 2020) after BEPSwap launched on SCCN - THORchain’s single-chain chaosnet.

After its launch, the THORSwap exchange quickly became the leading decentralized exchange on THORChain, responsible for a majority of the protocol’s trading volume.

Within 14 months of its existence, it had processed 2.7 million transactions and $1.85 billion in volume, representing 20% of the total volume on THORChain.

## Features

Several features distinguish the aggregator from its competitors. Some of them include;

•	Cross-chain swaps

It currently supports swaps for over 4,800 crypto assets across nine blockchains, including Bitcoin, Ethereum, Binance Chain, Cosmos, Avalanche, [Dogecoin](/news/tag/dogecoin), Litecoin, Bitcoin Cash, and THORChain.

•	Cross-chain DEX aggregation

As an aggregator, it taps into different liquidity sources to support a wide range of digital assets from multiple blockchains.

In August 2022, the exchange launched an [Ethereum cross-chain aggregator](https://docs.thorswap.finance/thorswap/thorswap-products/thorswap/cross-chain-dex-aggregation/ethereum-dex-aggregator), allowing users to swap between 4,800+ whitelisted ERC-20 tokens and its eight supported blockchains.

•	Impermanent loss protection

Impermanent loss occurs when the price of an asset staked in a liquidity pool is different than if it were held outside a liquidity pool. The loss deters liquidity providers from providing liquidity.

The aggregator protects users from impermanent loss with an Impermanent Loss Protection program. The program protects liquidity providers from impermanent loss, ensuring they keep providing liquidity.

## THOR Tokens

Launched in 2021, THOR tokens are the native utility and governance tokens of THORSwap. They also serve as incentives for trading activities and can be staked to receive vTHOR tokens.

vTHOR tokens are a representation of staked THOR. They allow stakers to earn 75% of THORSwap's revenue, among other benefits, including trading fee discounts. They can also be staked to receive daily rewards.

THOR tokens have a max supply cap of 500,000,000 million coins. They are to be issued to the public in four years.

According to [Coinmarketcap](https://coinmarketcap.com/currencies/thorswap/), the coins are currently worth $0.1244 each. They are ranked 4,632nd largest cryptocurrencies in the world.

The coins are listed in several crypto exchanges, including CoinEX, SushiSwap, and THORChain. They, however, can't be bought directly with fiat money. Investors must first purchase other cryptocurrencies, ETH or BTC, and then move to an exchange that lists them and uses their ETH or BTC to buy them.

## Conclusion

As of writing, THORSwap hasn't been in the market for long. However, it has quickly proven to be a cross-chain exchange worth watching out for with its great track record. It is already the leading decentralized exchange aggregator on THORChain. Its roadmap reveals that even more great things are on the way.
 


What is THORSwap?

## FTX UK warning - not authorized to operate in United Kingdom, warns FCA

A notification about FTX exchange's UK operations has been issued by Britain's Financial Conduct Authority (FCA). The statement said that FTX, one of the world's largest crypto exchanges, is not authorized to operate in the UK.

[The statement](https://www.fca.org.uk/news/warnings/ftx), first published on 16 September, 2022, said the FCA believed FTX might be providing financial services or products without authorization. It further stated that the firm is not authorized by the FCA and is targeting people in the UK.

Referring to FTX UK operations, the statement added that "almost all firms and individuals" who offer, promote, or sell financial services in the UK must be registered. When asked about the notice, a spokesperson of the exchange told [Bloomberg ](https://www.bloomberg.com/news/articles/2022-09-19/uk-regulator-issues-warning-on-crypto-exchange-ftx-to-consumers?sref=3REHEaVI)that they were aware of the FTX UK statement by the FCA. They also noted that among the contact info listed about the exchange, the phone numbers were incorrect, indicating a scammer might be impersonating it. 
On 19 September, 2022, Sam Bankman-Fried, the firm's CEO, [tweeted](https://twitter.com/SBF_FTX/status/1571877868963233792?s=20&t=v-X6cbEyYbmN__tYUB-R2A), reiterating that a scammer was impersonating the platform in the UK by phone. In the tweet, he stated that the exchange will never call anyone by phone and provided links that allowed access to the platform.

As of 14 October, the FCA has updated its warning against the platform to exclude the phone numbers believed to be tied to scammers. However, the regulator still warns UK citizens against engaging with the platform as it is unauthorized to operate in the country.

The statement warned UK citizens about engaging with unauthorized firms. Those who engage with unauthorized firms will not be able to access the Financial Ombudsman Service that settles disputes between companies and individuals.

There will also not be protection under the Financial Services Compensation Scheme (FSCS). If anything goes wrong and they lose their funds, they might not be able to recover the money.

## About the exchange

Launched in May 2019, FTX is a multibillion-dollar crypto exchange and trading platform owned by Bankman-Fried. It is incorporated in Antigua and Barbuda and headquartered in the Bahamas.

It has more than a million users worldwide and is available in many countries. While it is not available in the US, among other countries, it offers US citizens its services through FTX US.

The firm is not the only crypto asset firm to be put in the spotlight by Britain’s regulator for conducting business in the UK without authorization. [Binance](/news/article/guide-to-binance-uk), another major global crypto exchange, has been issued several warnings by the regulator about its activities in the UK. On 7 March, 2022, the firm was warned against undertaking any regulated activities in the UK without their written consent.

So far, only a few crypto asset firms are authorized by the regulator to operate in the UK. They include Gemini, Kraken, and Crypto.com.

FTX UK Warning from FCA

Among 500 registered crypto exchanges globally, [Bitforex](https://www.bitforex.com/) is one of the best known for its customer experience.

Along with a wide range of trading tools like spot, margin and future trading, BitForex Earn, [NFT marketplace](/news/article/solanart-nft-marketplace), and Crypto Loans, the exchange has very low fees, high liquidity, and multiple layers of security.

It launched in 2017 and has more than six million users across 200 nations. The exchange even helps new projects to gain exposure. Recently, it became the first crypto exchange to [support IOTA's Shimmer Network Token](https://www.newsfilecorp.com/release/139998/BitForex-Becomes-the-First-Exchange-to-Support-IOTAs-Shimmer-Network-Token).

## Who runs Bitforex crypto exchange?

With its head office in Hong Kong, [Bitforex](https://www.bitforex.com/) is led by Jason Luo and is becoming one of the fastest-growing crypto exchanges due to its high security and variety of trading tools. The exchange provides token and margin trading, BitForex Earn, NFT marketplace, and futures contracts with leverage up to 100x.

The crypto exchange raised more than $20 million in the funding round from famous VCs like Crypto Capital, TRON, Genesis Capital, and Block VC.

## Geographical presence

Registered in the Republic of Seychelles, the exchange is maintained and run by an international team who resides in different corners of the world, such as Germany, Singapore, Malaysia, Estonia, and the Philippines.

## Features of this crypto exchange

•	Deposit: The users can deposit funds into their Bitforex account using multiple methods such as Wire transfers, cryptos from other exchanges, credit and debit cards, cash, and bank account transfer.

•	Web presence: The platform can be accessed via the web and mobile app on Android and iOs.

•	Even the mobile web version of this exchange is user-friendly.

•	The trading system is capable of handling more than 1.6 million trading orders per second.

•	Bitforex has 163 listed major cryptocurrencies in 360 trading pairs.

•	It gives its users a vast variety of virtual assets to trade, such as the assets with top market cap, DeFi tokens, NFT coins, [meme tokens](/news/article/meme-coin-invest), etc.

•	It does not charge any deposit fee and the withdrawal fee depends on the network.

•	Bitforex also has a decentralized token mechanism for ERC-20 tokens known as EasySwap, which has no gas fee, very low slippage cost, and offers more than 980 ERC-20 tokens for trading.

## Are funds safe?

The team at Bitforex is concerned about the security of their user's funds, hence they have the following security features.

•	Only 0.5% of the total funds are kept in hot wallets to ensure easy withdrawals and security.

•	The exchange has multi-factor authentications like 2FA, SMS verification, and insurance security coverage to safeguard the funds.

•	To add further protection for the safety of its user's funds, the exchange keeps 98% of the funds in different multi-sign offline cold wallets across various locations.

## Final word

There is no surprise, given how interactive and innovative the platform is with the wide selection of products, that BitForex appears all around a good platform despite being a newcomer to the cryptocurrency exchange market.



What is Bitforex Crypto Exchange?

This [Gemini](https://www.gemini.com/) crypto review will look at a regulated cryptocurrency trading platform, wallet, and custodian that makes buying bitcoin, ether, and other cryptocurrencies simple and secure.

Created by Cameron and Tyler Winklevoss, the platform is among the most popular exchanges. The most significant advantage is its security - all funds are stored in cold storage, and two-factor authentication is required for all transactions.

A Gemini crypto review shows that the exchange makes it easy to buy cryptocurrencies with a bank account or debit card. It is also possible on this platform for you to trade cryptocurrencies.

[The exchange](https://www.gemini.com/) offers a tier-based service with distinct interfaces and fee structures for casual investors and experienced traders.

It has its currency, the Gemini dollar, a mobile app, and a payment app. The Gemini dollar, unlike most cryptocurrencies, is a "stablecoin" tied to the US dollar.

## Gemini crypto services

Gemini offers a variety of services apart from trading cryptos. The primary services provided are:
Gemini Exchange: Here, you can buy, sell, and store cryptocurrencies.

Gemini Earn: This is a lending service where you can lend your crypto to institutional borrowers to earn interest. With this, you can get up to 8.05% interest on your cryptocurrencies. This is available only in the US, Singapore, and Hong Kong.

[Gemini Credit Card](https://www.gemini.com/credit-card): It is possible to receive up to 3% rewards in crypto on your purchases using this card. This card is available only in the US.

The platform also includes more advanced services like an active trader, staking, Gemini dollar, Gemini Custody, Gemini Clearing, and Gemini Wallet.

## How to use Gemini

Continuing our Gemini crypto review, we look at the mobile app and [website](https://www.gemini.com/). These are the two main places where you can buy and sell cryptocurrency on this exchange platform.

The steps to buying cryptocurrencies on the exchange are: 

### Firstly, create an account on the exchange platform.

To buy cryptocurrency, you'll need to fund your account after you've opened one and been verified. You can add funds to your account in various ways, including a debit card, a wire or bank transfer, and Apple Pay or Google Pay. After you've verified your account and linked a funding source, you'll be able to start buying cryptocurrency on the website in just a few steps.

Choose the cryptocurrency you want to purchase. After logging into the [Gemini website](https://www.gemini.com/), you'll be taken to the homepage. Navigate to the ‘Market’ tab to browse the 70+ cryptocurrencies available for purchase and sale. Choose ‘view details’ on the cryptocurrency you want to purchase.

Make your order. When you get to the page of the cryptocurrency you want to buy, you'll see much information about it. Begin filling out the fields under 'Make a Trade' on the right-side panel of the page. 

Determine whether you want to place a one-time or recurring order and how much you want to purchase. You may, depending on your jurisdiction, be able to immediately transfer crypto you purchase directly into Gemini Earn by toggling 'Transfer to Earn' if the crypto is supported in Earn.

### Select a payment method.

### Double-check your order and click Confirm.

Choose one from the Market tab or your portfolio to sell your cryptocurrency on the exchange website. When you're on the price page for a cryptocurrency, you can toggle the sell order type on the right-side panel, enter the amount you want to sell, and click confirm.

## Gemini [trading charges](https://www.gemini.com/fees)

When you buy or sell crypto on Gemini, you'll be charged convenience and transaction fees. These fees apply whether you purchase through Gemini's online store or the mobile app. Both will be displayed as your "quoted price" before you complete your purchase.

## Convenience fee

The convenience fee for a given trade is approximately 0.5% of the Gemini market price. However, this can vary depending on the market. This fee is also reflected in the cryptocurrency you purchase. For example, if bitcoin (BTC) currently trades at $30,000 per unit, you'd pay $30,150 for one, including the fee.

## Transaction fee

A transaction fee based on your trade payment will be added to the convenience fee. This fee is standard for crypto conversions, such as trading bitcoin for [litecoin](/news/article/litecoin-price-gbp). The fee for buying and selling cryptocurrency varies depending on the currency used. It ranges from a flat fee for less pricey orders to a percentage of more expensive transactions.

## Pros and Cons

### Pros

More than 60 countries have access to the platform. It is also available to users in all 50 states and the District of Columbia.

### Cons

Gemini charges relatively high fees in comparison to its competitors. Some investors may be confused by the platform's layered fee structure, and high prices can reduce investors' returns.

## Security features and safety

Unlike money in a bank account, money in cryptocurrency is not FDIC-insured. However, [Gemini](/news/article/gemini-crypto-exchange) protects users' digital assets with multi-layered security measures highlighted on its website.

According to the exchange, the "majority" of your cryptocurrency is stored in an offline, cold storage system - the safest way to safeguard cryptocurrency from hackers. However, a small portion is kept in an online hot [wallet](/news/article/best-crypto-wallet) protected from theft due to a security breach, hack, fraudulent transfer, or employee theft.

The policy does not protect against losses caused by unauthorised access to your account. Within Gemini, you can create a list of approved addresses that restricts who can withdraw from your account (along with other account security features like two-factor authentication). Still, if your identity is stolen or your password is compromised, you may be unable to recover any funds lost.

## Conclusion

Gemini crypto exchange is a regulated exchange platform, and that's a big plus. It means you can have greater faith that your funds are safe and secure. The exchange platform has more than 70 selections of cryptocurrencies. It is a solid choice for those looking for a safe and secure place to buy crypto or earn interest on their crypto investments.

Also, if you want a simple platform with a great mobile app for buying, storing, and selling cryptocurrencies, then the exchange could be the right place for you.



Gemini Crypto Review

[ByBit](https://www.bybit.com/en-US/) is a cryptocurrency exchange platform for derivatives established in 2018. By offering a reliable exchange service, ByBit has become one of the top three crypto exchanges in the world. It functions in most countries, except the UK and a few other locations where services are restricted:

-	Singapore.
-	Crimea.
-	Sudan.
-	United States. 
-	North Korea. 
-	Quebec (Canada). 
-	Mainland China. 
-	Cuba. 
-	Iran. 
-	Sevastopool.
-	Syria.
-	Luhansk.
-	Donetsk.

ByBit exchange provides a [wide range of services](https://www.bybit.com/en-us/promo/global/aboutus/), but what gives the platform an edge over competitors is the features. From having the largest transaction capacity, at 100,000 transactions per second, to providing a safe, risk-free environment for new traders, ByBit corners the market on developing helpful features.

Let's look at a few of them.

## Features of the ByBit Platform

### Security of Users Funds

ByBit ensures the security of funds by enabling the hierarchical deterministic (HD) cold wallet that provides a second layer of privacy and security for users' funds. The HD wallet changes receiving wallet addresses after use, thereby protecting the true value of the funds in the address.

### User-Friendly Platform

ByBit has an interactive and user-friendly platform that makes it easy for users to understand and navigate. This is especially important for beginners who aren't very familiar with the particulars of trading.

### Supports Multiple Currencies

ByBit users can withdraw, deposit, or open positions in multiple currencies – BTC, ETH, EOS, XRP, and USDT. Before using this feature, check for any added caveats. In addition, users can use the internal asset feature to convert from one cryptocurrency to the other.

### Anonymity

Unlike some other platforms, ByBit does not have any KYC requirements. You only need an email address and a phone number to open an account.

### Around-the-Clock Customer Service

24/7 customer service ensures that users can access timely help around the clock.
 
### 100x Leverage on Margin Trading

Bitcoin users on ByBit can get as much as 100x leverage on margin and futures trading. For other currencies, the leverage is 50x. A similar feature allows customers to insure against loss by taking out short-term loans.

## Pros of ByBit

The pros of using ByBit include the following:

•	Very low chances of server downtime. ByBit's system can process 100,000 transactions in a second.

•	24/7 customer service.

•	Offers 100x leverage for Bitcoin and 50x for other cryptocurrencies on margins and futures trading.

•	Affiliate reward program.

•	Easy-to-use platform.

## Cons of ByBit

•	No KYC means no ID verification.

•	Limited spot trading pairs.

•	There is no ByBit UK access.

## What happened to ByBit UK?

In the first quarter of 2021, the Financial Conduct Authority (FCA) in the UK banned the sale of derivatives citing [high risk](/news/article/fca-crypto-investments-risky) as the reason.

In response to this ban, ByBit UK [services](https://www.coindesk.com/markets/2021/03/05/bybit-to-suspend-services-for-uk-customers-after-fca-crypto-derivatives-ban/) were withdrawn. On 31 March, ByBit ended services for UK customers after sending out a missive asking them to close all open positions and withdraw their account balances.



ByBit UK; Features, Pros, and Cons

Zapper Finance, a startup founded in 2020, is a dashboard that helps you keep track of your DeFi portfolio. Zapper exchange is a one-stop shop for you to keep track of assets, debts, liquidity pools, claimable prizes, stakes, and much more.

And the best part? It requires no personal information!

Just connect your wallet to Zapper and you're done. Moreover, Zapper gives you access to additional tools and benefits.

## How does Zapper work? 

Using Zapper is not rocket science. Follow the steps given below and you can get started in no time.

•	Click on the ‘Connect Wallet’ button [on the homepage](https://zapper.fi/).

•	Once connected, you can access your DeFi portfolio, including loans, outstanding debts, etc.

•	On your dashboard, you will see your current holdings, information about your portfolio, investments, and even NFTs. The price floor for certain NFTs will also be displayed here.

## What is the exchange? 

Exchange refers to when you can exchange your tokens on any network. If Zapper supports it, you will be able to swap your token without needing a DEX. On your screen, look to the bottom left corner and choose a network and start swapping.

## Zapper features 

Zapper comes with some amazing features that you would want to check out, namely:

•	DeFi Integrations - Zapper lets users stake liquidity from several DeFi protocols, all from a single dashboard.

•	Portfolio Rebalancing - Zapper makes it easy to rebalance your portfolio with its connectivity. With this feature, you can ensure you have a well-diverse portfolio.

•	Pooling - Zapper allows users to have multiple liquidity pools across several platforms with only a single cryptocurrency token.

•	Monitoring - You can [monitor your DeFi positions](/news/tag/defi) with Zapper by using its live updates feature. This allows users to manage and track their investments accordingly.

•	Zapper Exchange - With Zapper exchange, you can easily swap supported tokens without requiring a DEX.

If you are looking to enter the DeFi network or system, Zapper makes the process smooth. With its yield farming and liquidity opportunities, [Zapper](https://www.zapper.com/) makes it easier for investors to take advantage of the system.

It makes the tracking system that much better, and with Zapper, you can easily swap your Bitcoin, [Dogecoin](/news/article/should-i-buy-dogecoin), ETH, and more swiftly.



Zapper Exchange Explained

The [CoinSmart cryptocurrency exchange](https://www.cryptovantage.com/best-crypto-exchanges/) came into existence because the founders found it challenging to fund and obtain verification on existing exchanges. They intended to develop a dependable, user-friendly exchange for beginners and easily accessible to Canadians. 

The result is a crypto exchange with rapid verification, a user-friendly interface, bank-grade security, and several financing possibilities in various fiat currencies. They also provide more complex choices for experienced traders with bigger volumes.

Although [CoinSmart](https://crypto.coinsmart.com/register) began as a Canadian-only exchange, it has recently extended to several other countries worldwide. That means more people have benefited from its outstanding UI and simple onboarding procedure. The United Kingdom, Germany, France, Italy, Spain, Portugal, Sweden, Norway, Turkey, Poland, Ireland, the Netherlands, Georgia, and Estonia are all represented.

It offers a limited variety of digital currencies for purchase, sale, and trading. The most popular cryptocurrencies are: [Bitcoin (BTC)](https://www.cryptovantage.com/buying-crypto/bitcoin/), Ethereum (ETH), Litecoin (LTC), Ripple (XRP), Cardano (ADA), Stellar (XLM), Bitcoin Cash (BCH), EOS, NEO, Dash (DASH), and QCAD.

## Is CoinSmart secure? 

CoinSmart is a trustworthy cryptocurrency exchange that takes security seriously. They are a FINTRAC-registered Money Service Business, which means they comply with regulatory criteria and produce documents to retain their licensing status. A recognised Canadian bank also backs them.

CoinSmart Canada prevents fraud by utilising a sophisticated identity verification procedure that detects bogus addresses and dates of birth by using a database provided by data-gathering companies. CoinSmart can authenticate a person's identification while keeping personal user information protected by using these agencies.

The organisation also allows customers to use a two-factor authentication mechanism (2FA). Users must provide a password generated on their phones when attempting to log in. They must then input the freshly produced code and their account details.

CoinSmart also provides consumers with a cold digital wallet for each coin available on the market. Whether a user acquires a particular cryptocurrency or not, a cold wallet is accessible. This wallet uses industry-standard techniques and processes.

## Fees with Coinsmart 

CoinSmart charges reasonable fees for fiat deposits and withdrawals, and cryptocurrency withdrawal fees are common. Their costs follow industry standards, but they are not a compelling reason to use the exchange. 

There are no fees for Canadian Dollar deposits made through bank transfers or drafts. However, both methods need a minimum deposit of $10,000 and $500, respectively.

If users deposit via an Interac e-Transfer, there are no costs if their deposit $2,000 or more, but there is a [1.5% fee](/news/article/etoro-fees) if you deposit less. The 1.5% charge is standard; investors can find it on the neighbouring Canadian [exchange](/news/article/best-exchanges-for-crypto-uk) [Bitbuy](https://www.cryptovantage.com/best-crypto-exchanges/bitbuy/). Credit and debit card funding costs are the highest, with some fees reaching as high as 6%.

Meanwhile, bank wire and electronic funds transfer options have a 1% fee with a $15 minimum for Canadian Dollar withdrawals. Crypto withdrawals are subject to a fixed charge that varies according to the asset. The Bitcoin withdrawal charge, for example, is 0.0005 BTC, whereas the Cardano withdrawal fee is 0.3 ADA.

## Key Features at CoinSmart
 
CoinSmart offers a few unique features that distinguish it from the competition.

The first is that it is a beginner-friendly platform, making it an excellent starting point for novice crypto users. The site has an exemplary user interface that makes depositing simple.

CoinSmart is also the only exchange that provides the SmartGuarantee, which offers the following advantages: 

•	All deposits are credited to users' accounts the same day they are received. 

•	Every account is confirmed the same day, and all fiat withdrawals are made within five days. 

•	CoinSmart has a good referral programme in which customers may suggest friends and get $15 if they invest at least $100.

## How users can set up their CoinSmart account

Setting up an account with CoinSmart is simple, and they provide fast verification using Equifax, so users may be verified and trading within minutes of signing up. To open a CoinSmart account, follow these steps:

•	Navigate to the [CoinSmart webpage](https://www.coinsmart.com/) 

[![Coinsmart1.png](https://s3.eu-west-2.amazonaws.com/prod-monitalks-media/Coinsmart1_cc9f4818b1.png)](https://imp.i246982.net/c/3491845/794942/11346?subId1=nl&trafsrc=Impact)
  
•	Insert the respective email address and press "[Get Started](https://crypto.coinsmart.com/register)." 
 
[![Coinsmart2.png](https://s3.eu-west-2.amazonaws.com/prod-monitalks-media/Coinsmart2_605e9c8553.png)](https://imp.i246982.net/c/3491845/794942/11346?subId1=nl&trafsrc=Impact)
  
•	On the next page, choose the name, choose a password, and press "Sign Up."

[![Coinsmart3.png](https://s3.eu-west-2.amazonaws.com/prod-monitalks-media/Coinsmart3_d0af1cc0bf.png)](https://imp.i246982.net/c/3491845/794942/11346?subId1=nl&trafsrc=Impact)
  
•	Verify email through email sent to the user's email address

•	Enter the user's phone number and verify through the code sent to the number

•	Enter users’ information, including full name, date of birth, and address

If they can instantly verify investors, they are ready to deposit and start trading!

If they are unable to verify the user's identity instantly, they must provide the following information:  

•	Easy-to-read copies of the front and back of their government-issued ID

•	A selfie with users holding the same ID and a piece of paper with the word "CoinSmart" written with today's date.

•	A recent copy of their utility bill with their name and address.

After the respective users enter this information, the site will personally verify their identity before allowing them to fund their account and begin trading.


CoinSmart - A Guide for Beginners

How is the SushiSwap AVAX relationship going since they partnered last year?

[Avalanche](/news/article/avalanche-crypto-metamask) network is an open smart contract platform that has emerged as an efficient Ethereum competitor. Many innovative decentralised apps are now opting for it to benefit from its ecosystem. Avalanche already has some big projects like [Trader Joe DEX](https://traderjoexyz.com/home#/), [AAVE](https://aave.com/), [Lydia Finance](https://www.lydia.finance/), and [Curve](https://www.curve.com/), to name a few. 

But the most impactful name among them has been [SushiSwap](/news/article/sushiswap-metaverse). The SushiSwap AVAX hook up was, and is, big news.

In March 2021, [Sushiswap and Avax network partnered up](https://medium.com/avalancheavax/sushiswap-launches-on-avalanche-bringing-another-leading-dex-to-avalanches-growing-defi-ecosystem-8b84e966251f) to bring a decentralised exchange on a faster and more economical platform. It has helped both platforms to expand their services to the crypto community.

Let's learn how these platforms have been progressing since the SushiSwap AVAX union.

## ,Journey of SushiSwap on the AVAX network

Sushi is an Automated Market-Making (AMM) DEX introduced in 2020. It allows trading tokens in a frictionless manner. The exchange is a UniSwap’s fork which has evolved into one of the biggest exchanges in DeFi. Besides, it supports most Ethereum L2 solutions and L1 blockchains, including Avalanche.

The DEX became a part of AVAX’s Rush incentive program in 2021. It enabled the platform to build a liquidity incentives fund for mining. Moreover, SushiSwap on AVAX blockchain gained the multi-chain feature. Also, the diverse non-Ethereum ecosystem of Avalanche further boosted its token’s value.

## Penguin Finance

Beyond that, a breakthrough project for SushiSwap AVAX has been [Penguin Finance](https://www.penguinfinance.org/). It is the first yield farm from SushiSwap on the AVAX blockchain. The customers can get better yields for PEFI, AVAX, iPEFI, and SUSHI tokens through it. It uses Sushiswap's LP tokens for generating yields.

This DApp offers various financial products, including its own collection of NFTs. These leverage Avalanche’s low fees and speedy transactions and promote mass crypto adoption. 

## Does Avalanche benefit from the SushiSwap launch?

Avalanche has also benefited from the Sushi launch on its network. Including an exchange that focuses on DeFi traders attracted more similar projects to the network. Among them, DEXs like Multichain, Plasma Finance, ADA Finance, Coin98, and Trader Joe are a few examples. 

Moreover, data from [DeFillama](https://defillama.com/chains) suggest that it is the fourth largest chain in DeFi. Currently, the total value locked on the chain is $1.58b. Though its TVL is lower than Ethereum, Tron, and Binance, it makes up around 2.87% of the entire industry. It gives Avalanche an edge over other L1 blockchains like Solana. 

Besides, as more innovative projects enter its ecosystem, it has introduced a bridging feature. Firstly, it was introduced for Ethereum, but has expanded to the [Bitcoin bridge](/news/article/avalanche-bridging). It may also include several other tokens in the future, increasing the interoperability for the developers as well as crypto users.


SushiSwap and AVAX Relationship

[Maiar](https://maiar.com/) exchange is yet another innovative DeFi platform that offers many financial products.

This automated market maker (AMM) DEX has a scalable infrastructure. The minimal fees and lower slippage with secure architecture make it a complete app. Along with its easy-to-use app for trading, it offers many liquidity incentives.

In recent times, it has become a leading digital exchange and wallet. But, the reason this platform has gained global accessibility is the expandable Elrond blockchain. In this article, let’s explore how the [Maiar exchange](https://maiar.exchange/) leverages Elrond.

## An overview of Maiar exchange

The DEX is a recently evolved digital asset wallet and swapping app. It allows instant transfers with low-security risks as it is built on an expandable and secure network. Besides, the app allows you to manage all your assets from your smartphone. And its interactive and easy-to-navigate user interface makes trading hassle-free. 

It works with an open-governance system, for which it introduces its [native token, MEX](https://coinmarketcap.com/currencies/maiar/). The holders of this token have voting rights for decisions related to its governance. Apart from that, users can also generate higher yields through its incentive programs. It also provides LP tokens that you can use as collateral or for trades.

## Understanding Elrond blockchain

[Elrond](/news/article/the-elrond-company) is an exceptionally scalable public ledger that works on the Secure Proof of Stake (SPoS) consensus mechanism. The mechanism gives it enhanced security as compared to most blockchains using [PoS](/news/tag/pos). It improves the process of distribution and ensures long-term security. 

The blockchain relies on a state-sharding approach. It means Elrond splits the state account and the ledger into multiple shards. This allows it to validate both at the same time. In turn, it speeds up the validation procedure through which transactions take minimal time.     

## How is the Maiar exchange scaling up with Elrond?

Maiar and the app are both developed on the Elrond network. It is the network that solves the blockchain trilemma through its secure PoS. Besides, its state-sharding method assists in making transaction procedures faster. It also allows a fair distribution of tokens. On top of that, the network also brings in higher efficiency, enhanced storage, and interoperability.

These features allow the exchange to brand itself as a secure and long-term option for keeping crypto assets. Moreover, the platform enables low-cost transactions and the possibility of earning better yields. Besides, the network assists the swapping app in gaining global accessibility.
 
 



How Maiar Exchange Leverages Elrond

This Kraken review will zero in on margin trading with the US-based cryptocurrency exchange.

[Margin trading](https://cryptopotato.com/kraken-margin-trading-beginners-guide-everything-you-need-to-know/) allows customers to leverage their bets using funds they do not own. The advantage of this trading strategy is that it can significantly improve profits while putting less money at risk.

However, it is also worth mentioning that it has the potential to amplify losses rapidly. Leveraged trading enables investors to open more leveraged positions than their current balance. Kraken advances funds over what the investor currently has in their account.

To start a margin account, the user's broker is legally obligated to acquire their permission. The margin account may be included in the usual account opening agreement or it may be a separate agreement.

Margin trading is also more versatile than other sorts of lending. There may be no set repayment timeline, and the user's broker's maintenance margin requirements may be straightforward or automated. Most margin accounts are open until the securities are sold. At this point, final payments are often due to the borrower.

## Kraken review: How margin trading works

To margin trade on [Kraken](https://www.kraken.com/en-gb/features/margin-trading), users must go through several order types based on where they believe the market will move. The buyer can open long or short trades and close them using opposite orders or settling commands.

## Kraken review: What cryptocurrencies can users trade

One detail that needs to be known is which cryptocurrencies [Kraken](https://r.kraken.com/4e7yWG) supports for margin trading and the leverage levels at which customers will be allowed to deal. 

Kraken offers varying amounts of leverage depending on the cryptocurrency the investor wants to trade.

As a result, the allowable leverage varies depending on the base and quoted currencies. The following table lists all of the cryptocurrencies currently accessible for this type of trading and the leverage levels that are available for each one:

[![Kraken1.png](https://s3.eu-west-2.amazonaws.com/prod-monitalks-media/Kraken1_0ef841b41d.png)](https://www.kraken.com/features/margin-trading)
  
## Kraken Review: How to open a margin position

When a user opens a position, they receive advance cash (the margin) to assist them in executing a leveraged trade. 

In general, positions can be opened in two ways, depending on whether the investor wants to go long or short. 

If users want to open a long trade for ETH/EUR, the Kraken exchange will advance EUR to buy ETH. 

If the customer wants to open short trade, they will advance ETH so that the user can sell it for EUR. 

To enable margin trading, the user must log into the account, navigate to the "New Order" page, and select "Intermediate." 
 
[![Kraken2.png](https://s3.eu-west-2.amazonaws.com/prod-monitalks-media/Kraken2_bc3aa130fc.png)](https://www.kraken.com/features/margin-trading)

[![Kraken3.png](https://s3.eu-west-2.amazonaws.com/prod-monitalks-media/Kraken3_24e15de6a4.png)](https://r.kraken.com/4e7yWG)
  
The above screenshot illustrates that the [user](/news/article/kraken-exchange-under-investigation) can purchase or sell using the specified leverage on the right. For example, if the consumer selects to employ a leverage amount of 3, which is 3:1, tripling their purchasing power. 

If the user wants to go long, they must first place a buy order, as described above. 

The user must next configure the Order Type. If they choose the market, they must select "market" from the two options. If they wish to execute the deal when the price reaches a specified limit, they must select "limit".

## Kraken review: How to close a position

As previously stated, when users use leveraged margin positions, trades are conducted with an advance funded by [Kraken](/news/article/kraken-ceo). 

Users must return all the monies advanced to the exchange to close a trade. To close a trade, the user must create an order inverse of the opened order they wish to complete.

[![Kraken4.png](https://s3.eu-west-2.amazonaws.com/prod-monitalks-media/Kraken4_375fee55f5.png)](https://r.kraken.com/4e7yWG)
 
There is a long open position for Bitcoin in the previous screenshot. It indicates that the order type is "buy/market," indicating that the position is long. It selects the best available market order rather than aiming for a specific price limit on the order book. 

The investor would have to create the opposite transaction to close that position. 
 
[![Kraken5.png](https://s3.eu-west-2.amazonaws.com/prod-monitalks-media/Kraken5_2d9039dc05.png)](https://r.kraken.com/4e7yWG)

Since the position that needs to be closed is a "Buy," the user must select the "Sell" option on this screen. They also must choose leverage; otherwise, their funds will be sold at the best market price. 

After picking leverage, all the user has to do is click the Sell XBT for EUR button, and the trade will be closed, adding or discounting their balance with the profit or loss made on that transaction.

## Kraken review: How to settle a position 

Margin trading, as previously stated, is carried out through Kraken advances. As previously mentioned, one method for closing positions is to execute an opposite transaction. 

The second method is for the trader to return the advanced funds immediately from his account without engaging in a trade, known as a position settlement. 

For example, here's what you need to do to settle a long position. 
 
[![Kraken6.png](https://s3.eu-west-2.amazonaws.com/prod-monitalks-media/Kraken6_d124eb7445.png)](https://r.kraken.com/4e7yWG)

The user must pick the advanced option from the top menu to generate a Buy settle position order.

The user then chooses the amount to settle and the level of leverage. The order type should be "Settle Position".

The number of cryptocurrencies settled will be purchased using the chosen currency from the user's account at the price at which the position opened.

## Kraken Review: Types of fees

Regarding margin trading on Kraken, the user must be aware of two types of costs. These are the "opening fees" for creating a new position and the "rollover fees" for keeping an existing position open.

Both depend on the base and quote currencies. The initial cost ranges between 0.01% and 0.02%. 

The rollover cost, on the other hand, is payable every four hours and varies depending on the cryptocurrency trading pair selected by the customer. It ranges from 0.01% to 0.02% every four hours.

Margin trading on Kraken can be advantageous, allowing users to increase their profits if the right trade occurs. The platform has several advantages, but users must also note that losses might multiply.

It's vital to remember that [margin trading](https://www.investopedia.com/terms/m/margin.asp) is considered high-risk, with significant losses possible if the trade doesn't go as planned. As a result, it's critical to recognise the risks of this form of trading and act cautiously.


Kraken Review: All You Need to Know

Before we look at the LRC price and history, let's look at quantities.

The maximum quantity of [Loopring](https://loopring.org/#/) LRC coins is 1,374,513,896. The circulating quantity of LRC digital coins is 1,329,675,414 units, and the market cap is $1,208,161,143.11. The Loopring DEX has the LRC token, and the remaining tokens will be accessible in circulation. 

Loopring may use Ethereum and Neo blockchains. The hash functions of the underlying blockchain technology, such as SHA256 and RIPEMD160, are used to protect the coin, which is safe from a technological standpoint without losing dependability.

LRC is an open protocol created to build decentralised crypto exchanges. Furthermore, using zero-knowledge proofs can establish a non-custodial, order book-based exchange on the Ethereum network. 

Users own their private keys using the non-custodial exchange, which allows them to keep the crypto and assets secure.
It is believed that a new DeFi system picks many virtual coins, including LRC and its native utility coin. The aim is to facilitate a global network of users to run a platform known for creating and production of different types of crypto-asset exchanges. 

They claim that by using zk-rollups, a layer-two scaling technique, their exchanges can deliver speedier settlements for traders. It also allows blockchains to process transactions more quickly while maintaining low gas fees.

The technology, which uses cryptography (zk-rollups), allows exchanges to build on top of it to avoid the slow speeds and expensive costs associated with decentralised exchanges on ETH, making it easier for dealers to compare the prices of their digital assets. 

Thus, zero-knowledge rollups allow exchanges to do necessary calculations somewhere rather than directly on the Ethereum blockchain. 

Investors can also take advantage of faster speeds and cheaper costs by reducing the number of transactions the exchange can send to the Ethereum network.

On the other hand, other decentralised crypto exchanges need transaction verification on the ETH platform in a few minutes rather than seconds or milliseconds. As a result, it has a considerable edge over other DEX. 

The fundamental value proposition of Loopring is the cutting-edge encryption it includes on its platform. Some proponents feel zk-rollups are promising because they use a well-known type of encryption known as zero-knowledge proofs (ZKP). Instead of providing the facts, ZKP permits a computer programme to claim it. A zero-knowledge proof, for example, may allow a government organisation to verify that the user is of legal age to visit a specific website without giving the actual birthday.

## LRC price - history of Loopring 

Daniel Wang, a software engineer and entrepreneur, formed the Loopring Foundation, which oversees the development of their protocol. Wang is the foundation's founder and current CEO from Shanghai, China.

Wang obtained his degree in computer science from the University of Science and Technology in China. He earned a master's degree in computer science from Arizona State University.

Before joining Loopring, Wang had several senior positions at prominent IT companies. He worked at the medical device firm Boston Scientific as a lead software developer. He also worked at JD.com as senior director of engineering, search, recommendation, and ad system, a Chinese e-commerce company.

Other roles include working at Google as a senior software developer and tech lead. Wang is also a co-founder of many businesses, including Yunrang (Beijing) Information Technology Ltd. and Coinport Technology Ltd., a bitcoin services company. 

The LRC price is now over $0.2707. On 10 November, 2021, the all-time high was $3.83. On the other hand, on 18 December, 2019, the all-time low/minimum LRC price was $0.01986. The daily trading volume is $34,952 million.

## LRC price - staking

•	Anyone can stake LRC to receive a portion of protocol fees. Approximately 70% of the charge is distributed to users who bet LRC. Furthermore, 20% of the fees are given to the DAO (Decentralized Autonomous Organization), with the other 10% burnt.

•	Anybody interested in running a decentralised exchange on Loopring must secure at least 250,000 LRC tokens. They enable the operator to conduct an exchange based on on-chain data proofs. Without this functionality, an operator may require one to stake one million tokens to run an exchange.

## LRC price prediction 2022-2030

The Loopring cryptocurrency forecast today is for a minimum price of $1.23 and a maximum LRC price of $1.54 in 2023. According to our Loopring estimates, the average price for the year will be $1.36. 

Following the Loopring price projection algorithm and technical research, the Loopring minimum price will be about $1.30 in the first half. According to the Loopring forecast, the highest price will be $1.54, with an average Loopring price of roughly $1.34 throughout 2024.

The minimum price of Loopring LRC, according to technical analysis and Loopring estimates, will be $1.61, while the maximum price level will be $2.08. Per our Loopring projections, the average Loopring coin price in 2025 will be $1.86. 

Per the Loopring projection, the minimum price of LRC will be $1.51. According to our long-term forecast, the highest price will be $1.77 while keeping the average price of $1.62 in 2026.

Loopring LRC price forecast and technical analysis indicate that Loopring will trade at an average price of $4.28. Thus, according to our Loopring price forecast, the Loopring [cryptocurrency](/news/article/what-is-market-cap-cryptocurrency) will reach maximum and minimum price levels of $4.41 and $4.12, respectively, in the long term. The Loopring market may increase by 2030. 

Since the RSI indicator has shown an overbought condition, the probable price development might go either way. Thus, traders should utilise swing techniques. According to our Loopring price forecasting, it will be a beneficial investment for years.

Buyers need to know their risk tolerance and how they want to enter the financial markets. As the crypto market is risky and volatile, there is no guarantee of the future. These are the Loopring price forecasts we have made and not financial advice.


LRC Price Analysis

Fintech (financial technology) has created numerous opportunities for disruptive economic entrepreneurship. More companies in Singapore are looking to provide services for buying and selling digital payment tokens (such as cryptocurrency) or a platform for exchanging such digital payment tokens.

As a result, the Monetary Authority of Singapore (MAS) enacted the Payment Services Act (PSA) to accommodate and regulate such payment service transactions, requiring any business that intends to provide digital payment token services first to obtain the necessary licences.

Recently, the Singapore-based arm of the US cryptocurrency exchange [Coinbase received Singapore's MAS "in-principle approval"](https://www.coinbase.com/blog/singapore-ipa-announcement)to provide crypto services in the country.

![Coinbase.PNG](https://s3.eu-west-2.amazonaws.com/prod-monitalks-media/Coinbase_3caa112189.PNG)

Hassan Ahmed, CEO of Coinbase Singapore and the exchange's regional director for Southeast Asia, told in a statement that Singapore is a critical institutional market for the exchange in Asia because businesses there continue to show interest in crypto and digital advancements. 

According to Ahmed, the city-state also serves as Coinbase's Asia-Pacific tech hub, with an on-the-ground team of engineers in charge of the company's international expansion efforts and platform localisation.

With the new approval to offer Digital Payment Token services, Ahmed said [Coinbase](/news/article/blackrock-crypto) would seek to collaborate with regional platforms and expand its fiat capabilities. Coinbase was already offering services, including its institutional platform, under an exemption granted by MAS.

The exchange claims it has ongoing collaborations with regional Web3 organisations like the Singapore Fintech Association(SFA) and the Association of Crypto-Currency Enterprises and Start-ups (ACCESS).

## Other firms to qualify for in-principle approval

Under a new regime, approximately 180 crypto companies applied for a crypto payments licence with the Monetary Authority of Singapore in 2020. Following extensive due diligence, the country has granted 17 in-principle approvals and licences.

Among those who have received licences are Coinbase, [Crypto.com](/news/article/crypto.com-news-uk-approval), and DBS Vickers, the brokerage run by the country's largest bank DBS (DBSM.SI).
 



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