Connect with us

Crypto

Robinhood Makes Hiring Efforts Ahead of UK Expansion

Published

on

According to a report by Techcrunch, Robinhood, the zero fee trading company based in the United States, is making plans to open an office in London and it has started recruiting to that effect.

Various sources in and within London’s FinTech market have confirmed that Robinhood, which was launched back in 2013 and is valued at $5.6 billion, has been working towards the launch of its London office, with recruitment activities covering departments such as hiring and recruitment, public relations, marketing, customer support, and others.

The startup is also looking at hiring executives for product and compliance positions, which is extremely wise for a company that plans to get multiple licenses from the UK’s financial watchdog, the Financial Conduct Authority (FCA).

Robinhood’s expansion into the United Kingdom puts them in direct competition with similar fintech startups that have won the hearts of British traders offering “fee-free” trades, same way Robinhood won the hearts of Americans. One of such firms is London-based Freetrade, which offers “fee-free” trades executed at the close of business each day, for instant execution of trades, the startup charges as low as £1 per trade.

Another fintech startup that should be in Robinhood’s crosshairs is Revolut, the London based startup, that recently announced plans to offer Robinhood commission-free trading to its customers via its banking app.

Both companies have a bit of history, and it will be interesting to see how this battle shapes up. Launching a division in the U.K. will put Robinhood in direct competition with locally-based FinTech companies, and the success of the company in the United States is reportedly the reason why a lot of new entrants in Britain have gone ahead to launch their fee-free trading platforms.

Last month, Robinhood launched a savings and checking account for its American customers, offering users a “fee-free, commitment-free and surprise-free” account that pays them 3 percent interest for every deposit made into the account.

The company had said via a blog post, at the time:

“Currently, traditional checking and savings accounts cost more for people who make less, are riddled with unfair and hidden fees, and earn you minimal returns on your savings. We believe you should earn more on your money, and shouldn’t be charged fees to access it.”

The accounts will come with a debit card, which will be personalized and can be used in over 75,000 ATMs across the U.S. for withdrawals. However, some few days after it announced its plan to launch the accounts, the Securities Investor Protection Corporation (SIPC), the agency in charge of brokerage accounts, said Robinhood didn’t consult the agency about its plans before making the announcement.

SIPC CEP Stephen Harbeck said Robinhood would be using a model that goes above what they can protect and as such, they promptly reported the startup to the Securities and Exchange Commission.

“Robinhood would be buying securities for its account and sharing a portion of the proceeds with their customers, and that’s not what we cover. I’ve never seen a single document on this. I haven’t been consulted on this.”

Source. ccn
Advertisement
Click to comment

Crypto

Crypto Market Update: Stellar (XLM), Bitcoin Cash, Tron (TRX), ADA Price Analysis

Published

on

  • The total crypto market cap failed to hold gains above $120.00B and declined to $115.00B.
  • Stellar (XLM) price is holding the $0.1000 support very well and it could gain traction.
  • Bitcoin cash price may correct lower towards the $125 support level.
  • Tron (TRX) declined below $0.0250 and it could find support near the $0.0240 level.
  • Cardano (ADA) price is trading nicely above the $0.0420 and $0.0440 support levels.

The crypto market failed to hold gains and declined followingEthereum’s slide. Bitcoin, BCH, ETH, XRP, Stellar (XLM), Tron (TRX) and Cardano (ADA) also corrected lower.

Bitcoin Cash Price Analysis

After a decent upward move, there was a bearish reaction from the $135 resistance in bitcoin cash against the US Dollar. BCH/USD declined below $130 and it is currently consolidating losses. An initial support is at $125, below which it could revisit the $120 support.

On the upside, a close above the $132 and $135 resistance levels is must for an upside acceleration towards $140 and $145 in the near term.

Stellar (XLM), Tron (TRX) and ADA Price Analysis

Stellar price retreated from well above $0.1150 and declined below the $0.1100 support. However, XLM is still well supported above the $0.1050 and $0.1000 support levels, and it may soon bounce back.

Tron price started a downside correction below the $0.0280 support and tested the $0.0230 support. TRX is currently consolidating near $0.0240 and it may slowly climb above $0.0250 and $0.0262 in the near term.

Cardano price tested the $0.0400 support recently and bounced back. ADA is currently trading near $0.0440 and it may continue to rise towards the $0.0450 and $0.0472 in the coming sessions. On the downside, the main supports are $0.0432 and $0.0420.

Crypto Market Cap BTC BCH TRX TRON ADA Stellar XLM

Looking at the total cryptocurrency market cap hourly chart, there was a bearish reaction from the $120.00B-121.00B resistance zone. The market cap declined and tested the $115.00B support. It is currently correcting higher, but there are many hurdles on the upside near the $118.00B, $119.00B and $120.00B levels. Therefore, it seems like upsides might be capped in the short term, and bitcoin (BTC), Ethereum, EOS, stellar, LTC, ripple, TRX and other altcoins may continue to consolidate.

Tags: ADA, BCH, Bitcoin Cash, btc, Cardano, stellar, TRON, TRX, XLM

source:Crypto

Continue Reading

Bitcoin

How do Bitcoin transactions work – A Brief Explanation!

Published

on

By

Bitcoin is a cryptocurrency – meaning digital form of cash. Since its inception, Bitcoin has intrigued users for its peer-to-peer technology without any involvement of the bank. The formation of the blockchain here makes the process authentic, and genuine.

To put across simply the buying and selling of the bitcoin happens online with the help of a p2p portal. Here is how it happens!

 

The initial listing!

If a seller to sell bitcoin the seller needs to publish the intention for the nodes to scan the bitcoin network. Here the authenticity of the seller is established as nodes check –

  • Validity of the bitcoin that the seller wants to sell, and

  • If the bitcoin is genuine or has been sold already!

After the scanning has been done, a block is created which attaches to the previous block of transactions done. Thus there is created a network called blockchain. These blocks are unique and cannot be tampered with so the players can play slots without depositing!

The public key and private key!

Every seller or buyer on the bitcoin network has a public key and a private key. Public key is a string of 34 characters made of numbers and letters. This is the official address of the person on the network. This public key holds information like transaction done, balance in the account etc.

The public key has a corresponding private key which is much like a password of 64 characters. Here too the characters include numbers and letters. While these two keys are connected, the private key needs to be kept secured as it provides for a login and authentication for the person to make transactions.

To authenticate a transaction, a public key should be signed with a private key with the help of a computer software or mobile phone. At all times the private key stays a secret to the users. So when someone signs digitally to authenticate the transaction, it’s only the public key that is available to the world. Much clever technology!

The blockchain hash and virtual tampering!

Hash is complex mathematical function related to a blockchain. The hash function is unique and is created when a user publishes intention to sell or buy bitcoin. As and when a change is made in the transaction, a new and unique hash function is created. This set of 64 characters long string of numbers and letters tells the users of the changes and tampering made on any transaction.

Blockchain, therefore, keeps in authenticity of the transactions with the users by each time creating a new hash function for the block – related to the transaction. Virtually it’s a boon as every sort of tampering is easy to catch!

Bitcoin and blockchain world

The trading of bitcoin happens through blockchain procedure which is a full-proof play of technology. You can sit at your desk and check the transactions working live on the network.

Access the primary websites and lay your hands on the most fascinating currency trading system that has ever been developed!

Continue Reading

Crypto

Crypto Arbitrage Today: BTC, ETH, TRX, XRP, XLM, DOGE

Published

on

Another day dawns upon the cryptocurrency industry. While most markets are moving up slowly, the number of arbitrage opportunities continues to increase accordingly. A lot of good money can be made today by flipping the following altcoinsbetween the associated exchanges. Depending on how all markets evolve, there will be further gains waiting on the horizon.

Ethereum (Gate / KuCoin / EXMO)

A fair few price differences can be noted where Ethereum is concerned. It would appear the value per ETH on EXMO is slightly higher compared to exchanges such as OKEx, HitBTC, KuCoin, Poloniex, Gate, Bittrex, and Binance. An acceptable 1% profit can be achieved by moving ETH between these platforms. There is also an opportunity involving Bitfinex, as its ETH price is higher compared to Koinim, BtcTurk, Koineks, Bittrex, Bitstamp, and Paribu. These profits are near the 1% mark on average, yet can rise to 1.79%.

Bitcoin (OKEX / Poloniex / Livecoin)

Finding two relatively big exchanges with an identical Bitcoin price may prove to be somewhat challenging today. In terms of arbitrage trading, that is rather good news. Buying Bitcoin on Poloniex, Gate, HitBTC, OKEx, Binance, KuCoin, Bittrex, or Binance and selling it on EXMO, Livecoin, Bitexen, Sistemkoin, or Bitfinex will yield a profit. The Bitcoin-related price gaps can be as big as nearly 3%, although the average profit will be closer to 1.3%.

XRP (Bitstamp / Vebitcoin / Bitfinex)

There are numerous arbitrage opportunities involving XRP today. The more straightforward option is to sell XRP on Bitfinex after buying on Bitstamp, Vebitcoin, or Bittrex for a profit of up to 2.8%. Users can also buy on Binance, KuCoin, HitBTC, OKEx, Poloniex, or Gate to sell on EXMO for an average profit of 1.4%. Buying on Bittrex, or Binance and selling XRP on Sistemkoin can also yield a 1% profit today.

Stellar Lumens (KuCoin / Gate / EXMO)

As has been the case for several days now, EXMO has become the go-to arbitrage exchange once more. Its XLM value is higher compared to KuCoin, HitBTC, Gate, and Binance. As such, traders can achieve a profit of up to 1.8%. There is also an option to buy on KuCoin, Binance or Kraken to sell XLM on Bitexen for a profit of nearly 3% per trade. All of these options heavily depend on the trading volume between these exchanges.

Dogecoin (HitBTC / Gate / LiveCoin)

It is always good to see a Dogecoin price gap emerge between different trading platforms. After all, Dogecoin remains one of the more popular currencies in the industry as a whole. Its price on both HitBTC and Gate is lower compared to LiveCoin, resulting in a potential profit of 2.15%. Given how popular Dogecoin is, such a price gap should never be overlooked whatsoever.

Tron (Paribu / Koineks / Bitfinex)

A rare TRX-oriented arbitrage opportunity presents itself today. That is always interesting, as Tron usually maintains a fairly stable price between all major exchanges. For today, the TRX value on Paribu and Koineks is lower compared to Bitfinex. Depending on which option one prefers to explore, the potential profit sits between 1.8% and 2.4%. Another good money-making opportunity in the cryptocurrency world.Disclaimer: This is not trading or investment advice. The above article is for entertainment and education purposes only. Please do your own research before purchasing or investing into any cryptocurrency.

source:nulltx

Continue Reading
Advertisement
Advertisement
Open

Close