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Less Than 40% Of Millionaires Are Getting Cryptocurrency Advice

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Yesterday, Capgemini released a survey which showed that 29% of wealthy individuals have a lot of interest in investing in virtual currency and aren’t getting enough advice from their wealth managers.

The data is acquired through annual survey from Capgemini’s. In the latest release, it showed that as well as the previously mentioned 29%, an extra 27% (26.9%) are “on the fence” in regard to virtual currency investment. This means that more than half of HNWIs are aware of or are interested in cryptocurrency.

The Paris-based company consulting corporation, Capegemeni (not to be confused with Capgemini) defines HNWIs as people whose wealth mean that they can invest at least $1 million, excluding holdings such as real estate, artwork and vehicles. At the start of this year, there were approximately around 15 million people like this around the globe. Collectively, this demographic controls more than $70 trillion with Capgemini expecting to see that figure grow to over $100 trillion within the next ten years.

The results of the survey found that over 70% of the millionaires, that were aged 40 and below, were placing “high importance” on getting information regarding cryptocurrency from their management firms. The same goes for the 13% who were aged 60 and over.

Just under 35% of the millionaires said that they had received information from their wealth managers regarding cryptocurrency.

This boosts the stereotype of wealth managers not being up to date within the industry and rather being behind the times. It also shows that a market force could go some way in the direction of explaining the more than 160 new cryptocurrency hedge funds which were created in 2017. Over the whole of last year, these funds saw a great amount of growth in profit.

Even in 2018, we saw memorable developments such as new cryptocurrency investors funds being established by those from BlackRock and Goldman Sachs. We also saw Venrock signing with a cryptocurrency investment fund as well as seeing Soros Fund management allegedly looking into the sector in April earlier this year.

However, the Financial Times have recently published a report that shows that cryptocurrency hedge funds have had their profits dive by over 30% in 2018 and nine have been completely shut down.

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Weiss Ratings Poll Declares Ripple (XRP) Best For Moving Funds Between Exchanges

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It is the season of polls for Ripple (XRP), the cryptocurrency which was earlier rendered insignificant by Coinbase despite its enchanting potentials attested to by big and small firms which are not limited to the fintechs but include large banks in the world and some central banks. A recent poll by Weiss Ratings on Twitter

It is the season of polls for Ripple (XRP), the cryptocurrency which was earlier rendered insignificant by Coinbase despite its enchanting potentials attested to by big and small firms which are not limited to the fintechs but include large banks in the world and some central banks.

A recent poll by Weiss Ratings on Twitter that was categorized into four with Ethereum, Ripple, Bitcoin and “other” coins placed Ripple ahead of other digital currencies including Bitcoins.

Ripple took the lead with 78%, Bitcoin had 6%, while Ethereum and ‘Other’ had 8% votes. 7,598 crypto lovers took part in the vote.

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Which is best for moving funds between exchanges?

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A few days back, CNBC’s Fast Money revealed the outcome of the poll they organized on whether Coinbase users need Ripple.

Ripple, Stellar (XLM), Cardano (ADA), and ZCash (ZEC) were part of the poll. However, Ripple led with 34% votes leaving ZCash with 30%, and Cardano and Stellar had 25% and 11% respectively.

Last week Coinbase announced they are exploration five new cryptocurrencies. Among them lies ZCash (ZEC), Stellar (XLM), Cardano (ADA), with two unpopular coins: 0x (ZRX) and Basic Attention Token (BAT).

We are exploring the addition of several new assets, and will be working with local banks and regulators to add them in as many jurisdictions as possible”.

Coinbase decision sparked uproar in the crypto space owing to people’s expectation that the exchange will include Ripple, which was earlier alleged of Inducing Coinbase listing with money.

The five coins, as Ethereum World News earlier reported would be exposed to 13 million customers and price upsurge after they are listed on Coinbase. The exchange therefore made known that they are not guaranteeing the listing of the coins but may select any in the future.

“Please note that we are not guaranteeing the listing of any of these assets. We may list them with partial support, or only in specific jurisdictions. In particular, some assets may become available in other countries before the US.”

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Here Is Why XRP Does Not Need Coinbase and the SEC

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Crypto News Flash: Bitcoin (BTC), Tron (TRX), Ripple and XRP, Ethereum (ETH), Litecoin (LTC), Stellar (XLM)

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Stellar (XLM), Litecoin (LTC) and Bitcoin (BTC)

Brian Kelly, the CEO of crypto investment firm BKCM, says Stellar has earned its spot ahead of Litecoin in market cap.

“Stellar is both a currency and a platform, so it makes sense that it is more valuable than Litecoin,” Kelly told CNBC. “The partnership with IBM is very interesting and could add even more value as they build more products on the Stellar platform.”

As for the overall market, Kelly believes the bear market may have subsided. “The character of the market has appeared to have changed. For most of this year, every rally was met with aggressive selling. That has changed over the last two weeks. The potential for a currency war could be a tailwind for Bitcoin going forward.”

Tron (TRX)

Crypto exchange Changelly has added Tron to its list of cryptocurrencies that can be easily bought with a bank card.

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In addition, a new Google Chrome extension for Tron is launching. Tronlink is designed to give developers an easy way to create decentralized apps that launch directly from the browser. Users will be able to see games, applications, sites and other DApps  on Tron’s blockchain through TronLink. It will be available on the Chrome Web Store on July 31.

Ripple and XRP

A new poll from Weiss Ratings found XRP is the best cryptocurrency for moving funds between exchanges.

Out of 7,598 votes, XRP came in first at 78%. Ethereum and “other” tied for second with 8% each, and Bitcoin is in fourth place at 6%. Ripple owns 60% of the total supply of XRP.

 

 

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Philippines Based LoyalCoin Is Using Cryptocurrency To Create The First Global Loyalty Scheme

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Philippines-based LoyalCoin is aiming to create the world’s largest loyalty network where points from thousands of different brands are interchangeable – all thanks to cryptocurrency.

Customers will be able to turn reward points from numerous brands into taxi rides, air miles, fast food treats and pretty much anything else they want.

And from August this year they will also be able to cash out their points into Fiat currency for the very first time.

A groundbreaking digital asset, LoyalCoin is the brainchild of Filipino firm Appsolutely which has become a leading player in the loyalty and rewards sector over the last five years.

It is now using blockchain technology to create the only truly global rewards scheme where you can use your passion for pizza to jet off on holiday, and your grocery shopping bills to pay for a cab across town.

LoyalCoin Chief Operating Officer, Paolo Bediones, said: “It’s time for crypto to come into the rewards segment.

“The idea is that customers can combine their loyalty points from different merchants into one place.

“That means they can much more easily keep track of them and trade them for things they actually want – and in more ways than they previously thought possible.”

Working with peer-to-peer blockchain platform the NEM Foundation, LoyalCoin already has a 200,000-strong community and nine billion coins in circulation.

It is rated 268 out of 1,656 coins on CoinMarketCap and is being traded on Cryptopia and the NEM Exchange.

LoyalCoin is currently operating in the Philippines but is set to expand into South Korea, Japan and the United States by the end of the year. A route into the European market is slated for 2019.

And it already has some big brands on board.

In May it signed a deal with Cebu Pacific to harness the Filipino airline’s existing GetGo points system.

Agreements with international convenience store giant 7-Eleven and ride-hailing company Grab, which acquired Uber’s South East Asia operations earlier this year, have also been confirmed.

Mr Bediones added: “There are thousands of loyalty programmes but businesses still lose repeat customers who can’t keep track of them all and who can only use their points in a few places.

“With LoyalCoin it will be possible to use and trade them everywhere – it will unite all points and programmes into one.

“Businesses will gain customers and revenue, and people will actively use their rewards points. Meanwhile, coin-holders will see their points appreciate as the new loyalty economy expands.”

The Cagayan Economic Zone Authority (CEZA) currently allows crypto platforms to operate in the country but the Philippines central bank, Bangko Sentral ng Pilipinas (BSP), is working towards official regulation due to be in place by the end of the year.

Mr Bediones said: “Regulation is crucial to the advance of cryptocurrency globally, however there has to be some give and take.

“It is important but there should be room for growth within that.”

President and Chief Executive Officer, Patrick Palacios, said: “LoyalCoin is a digital rewards wallet that can be used within the group of merchants that we partner with.

“Essentially is solves the problem of consumers not be able to use their points anytime, anywhere.”

LoyalCoin is stored in a LoyalWallet, a secure blockchain-backed system that is available for both iOS and Android operating systems.

Mr Bediones said: “Like a traditional rewards point, LoyalCoin can be used to redeem rewards from any participating merchant.

“That means that your points from one merchant can be redeemed with every other merchant within the system.

“However, LoyalCoin can also be sent to and received from other people, and used as payment with participating merchants.”

It has already made waves in the cryptocurrency world through its partnership with United Kingdom e-bike retailer 50cycles.

Last month the British company announced a new range of electric bikes called Toba, on which riders can earn LoyalCoin while they pedal – at the rate of around £20 ($26.50) for every 1,000 miles they cover.

For further details visit loyalcoin.io.

LoyalCoin Logo

LoyalCoin logo

Loyalcoin Conference Feature

LoyalCoin CEO Patrick Palacios

Loyalcoin Conference Feature

LoyalCoin COO Paolo Bediones

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