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Social tokens to be the “next big thing” in the crypto market-Raoul Pal

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  • Real Vision Group CEO Raoul Pal said that social tokens will be the next significant change in the crypto world.
  • The CEO revealed that he is currently working on creating a social token. 

The CEO and founder of Real Vision Group & Global Macro Investor, Raoul Pal, is optimistic that social tokens will be the “next big thing” in the crypto industry. Pal made his assertion on social tokens while speaking on the outlook for crypto space. The CEO used to be a hedge fund manager at investment banking company Goldman Sachs. Also, Pal is a known Bitcoin bull. 

According to Pal, social or community tokens are capable of disrupting the different kinds of traditional industries as they emerge as the next significant development in the crypto market. It appears Pal’s confidence in social tokens is growing. The CEO said that his company intends to launch a social token over the coming year. 

Raoul Pal speaks on social tokens

Unlike other kinds of tokens, community tokens are linked to either a person, an organization or a company. However, social tokens, like other digital assets, are decentralized and function on a blockchain network. Holders of community tokens enjoy certain benefits from the issuer of the token. Some of the holders’ benefits are access to exclusive content, digital merchandise, or access to group chats. Pal stated: 

It’s the biggest thing I’ve ever seen, we all know how big crypto is, but within crypto, community tokens are going to change all business models.

Pal referred to Disney to substantiate his point on community token disrupting businesses. He said Disney would eventually adopt community tokens as the firm has fans eager to have access to parts of the community. Speaking further, Pal said that the Disney community token would enable fans to belong to communities of interest. He mentioned communities such as Star Wars or Disney animation.

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Furthermore, Pal is assured that the social tokens industry will move from a “billion-dollar” business to a “trillion-dollar” over the next five to ten years. According to Pal, his self-confidence in the development of social tokens is so huge that he aims to create one. 

Pal reveals plans to create a social token

Pal revealed that he is currently working on a social token. He plans to offer the social token to the “great, amazing community of “super-smart people” worldwide.  The Real Vision Group founder noted that fans have been asking for a community token to be a part of the “expert network of people that love finance and, you know, love investing and learning.”

Also, Pal mentioned the steps required to create a community token that ticks all boxes. He explained:

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You need to give [holders]benefits of community, utility of community so that they get discounted tickets, ability to get extra merchandise, ability to get access to NFTs, ability to have meet and greets, ability to chat with the artists, you need to generate all that ecosystem where everybody can connect and bond and everybody can connect and bond and everybody feels close to the center of the community, the influencer.

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Waves price analysis: Cryptocurrency finds backup at $28.21 after substantial loss

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  • The price has moved up to $28.213.
  • Waves price analysis confirms an up rise.
  • Support is still fixed at $25.32 position.

The latest Waves price analysis is dictating signs of recovery, as the price followed an upward movement today. The WAVES/USD value has experienced growth during the day as the bulls have regained their strength. Although a downward trend was observed in the previous week, the price has been able to pick itself again because of bullish support. The price has increased to $28.21 as a result of the efforts from buyers.

WAVES/USD 1-day price chart: WAVES price steps up to $28.2 as trends undergo shift

The one-day Waves price analysis is confirming an uptrend for the day as the green candlesticks have reappeared on the price chart. The price is now following an upward movement once again after undergoing a constant reduction in the previous week. The bullish momentum has resulted in an increase in price up to the $28.213 level in the last 24 hours. The price is yet to reach the moving average (MA) level which is at $28.71.

Waves price analysis: Cryptocurrency finds backup at $28.21 after substantial loss 1

A crossover between SMA 50 and SMA 20 has been delayed because of the upturn in price. The Bollinger bands Indicator plays a vital role in making correct predictions, and its upper value is now $31.671 and the lower value is $25.32. The Relative Strength Index (RSI) score is at the neutral position of 50.87.

Waves price analysis: Price stumbles at $28 as bears limit chances of further growth

The four hours Waves price analysis shows that the price is moving down once again as a consequence of bearish efforts. An uptrend was following earlier as the price was advancing quite steadily. But it has undergone a reduction in the last four hours as the bears have returned on the price chart. Red candlestick is marking a decline in price up to the $28.218 level. The price is now below the moving average value as well i.e. $28.22.

Waves price analysis: Cryptocurrency finds backup at $28.21 after substantial loss 2
WAVES/USD 4-hours price chart. Source: TradingView

The SMA 50 curve is traveling higher than the SMA 20 curve which is another indication of a downtrend. Because of the increasing volatility, the upper Bollinger band is now at $29.55 and the lower Bollinger band is at $27.46. The RSI curve has descended down to the 45.91 level as well, which is an average score.

Waves price analysis: Cryptocurrency finds backup at $28.21 after substantial loss 3
WAVES/USD technical indicators chart. Source: TradingView

The overall indication for the day is going towards the neutral side, as a constant variation in trends has been recorded during the past few weeks. Still, there are more indicators on the buying side i.e. 10, as there are seven indicators on the selling side and nine indicators on the neutral side.

The moving averages indicator is supporting the buyers by giving out a bullish signal. There are nine indicators standing at the buying position, five indicators are at the selling position while only one indicator is at the neutral position. The Oscillators are going neutral as well as there are eight oscillators that are on the neutral level, two oscillators are on the selling level while only one oscillator is on the buying level.

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Waves price analysis conclusion

The price is on the rise once again as the bulls are in the leading position for now. The increase in price has been confirmed by the one-day and four hours Waves price analysis as the price is now touching the $28.21 point again. On the other hand, a drop in price has been recorded in the last few hours which means that the coming hours might not prove so favorable.

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The Best Cryptocurrency Wallets For American and Australian Gamblers

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Thirteen percent or an average of 1 in 10 Americans have traded or invested in cryptocurrency in 2020, according to data from a study completed by the University of Chicago, compared to seventeen percent of Australians who currently own crypto coins worth $8 billion. Moreover, according to fresh September 2021 data from the land Down Under, as many as 35% of Aussies think that Bitcoin is prone to be used more frequently than the AUD, and will eventually take over fiat currencies by the year 2050. Bitcoin also continues to remain the most popular cryptocurrency in the US, with a market cap of $1.1 trillion.

With such a high request and interest in cryptocurrency, it is only normal for crypto exchanges and crypto wallets to be a hot topic for investors in the two countries that also share a similar passion for gaming. Gambling with the help of cryptocurrency as a banking method has started to gain more and more ground in Australia as well as the US, thus the increased desire to know which are the most advantageous crypto-exchanges and crypto-wallets players should be using right now. 

What Are The Most Popular Types Of Crypto Wallets For American and Australian Gamblers?

There are many different types of crypto-coin wallets American and Aussie players can choose from, with hot and cold wallets as primary options for most individuals. The main difference between a hot wallet and a cold wallet is represented by whether the wallet requires a connection to the internet or not.

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cryptocurrency wallets

Hot Wallets

A hot wallet requires a permanent connection to the internet while allowing you to complete a large number of transactions on a daily basis. However, the same hot wallet can also prove to be more susceptible to cyber-attack risks precisely because of its ongoing connection to the internet. 

Cold Wallets

On the other hand, a cold wallet does not require a connection to the internet and, while less convenient to use, it can also provide higher levels of safety for users.

No matter which of these alternatives you might choose, you will get to:

  • safely process your transactions and store your coins
  • avoid making a direct transfer of your coins from the exchange to a crypto-friendly casino or bookie online. Since some of the most reputable crypto exchanges currently run on extremely strict anti-gambling policies, you may risk getting locked out of your exchange account or potentially lose all the stored funds there.

While there is no supreme crypto-wallet that Aussie or American gamers should exclusively use, there are a few types of wallets that manage to stick their heads out from the crowd:

Web crypto-wallets

Web wallets are special extensions that need to be installed on a browser. They work as wallets that enable users to easily send and receive crypto coins, with Metamask and blockchain.com being two of the most popular and trustworthy alternatives on the market. If you are searching for a wallet to use with a casino that mostly accepts Ethereum, USDT, or USDC, try Metamask first. Just add the wallet’s extension to your preferred wallet for free and take advantage of its simplicity and smoothness. Keep in mind Metamask does not support Bitcoin, Tron, or Cardano.

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Crypto-wallets for desktop and mobile

A mobile wallet is a type of hot wallet that can be downloaded and installed on a mobile device. Such a wallet is available in the form of an app that can prove to be particularly handy when playing live casinos online. The user must first load the app on his phone, transfer the desired amount of cryptocurrency to the selected casino for a minimal fee and let the fun begin. One fine example of such a mobile wallet is Mycelium, a wallet with a top-notch reputation and many loyal users.

Desktop wallets are special types of software that can be downloaded on a computer. Exodus is a top-notch desktop wallet and a fantastic option for beginners due to its simplicity and popularity. Opt for Exodus if you are primarily interested in opting for Bitcoin-friendly casinos or sportsbooks online, especially if you are new to the scene of cryptocurrency wallets and you are looking for a highly intuitive, hassle-free experience. Exodus is compatible with a large number of virtual coins, thus turning it into a good choice for a variety of top cryptocurrency casinos and bookmakers online. The wallet is also incredibly lightweight, which means you will not have to worry about downloading large volumes of data.

Hardware wallets

These are physical devices that do not need to be constantly connected to the internet. Trezor Model T or Ledger Nano X are some of the most convenient types of cold crypto wallets thanks to their unparalleled level of protection. They will not only allow you to use any type of cryptocurrency of your liking when wagering online, as they support over 300 crypto coins, but they could even let you use the Bluetooth function on your smartphone to engage in wireless connectivity, which is the case of the Ledger Nano x wallet.

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Final Thoughts

No matter which category of crypto wallet you might opt for, remember to keep a close eye on the latest cryptocurrency regulation upgrades in all parts of the world to make sure nothing will prevent you from enjoying a safe and legal gaming session at a crypto-friendly venue online. Also, remember to never share your seed phrase with a third party or store it on your personal computer, laptop, smartphone, or tablet, in the cloud, or as a photo/document.

Finally, double-check the exact link and website address you plan on downloading any software or app from to steer clear from scammers. 

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Central Bank of Spain requires cryptocurrency companies to register in the country

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The Bank of Spain (BDE) made available on Thursday (21) an electronic form for registering individuals and companies wishing to initiate or formalize operations with cryptocurrencies. The call comes a week after the agency formally sent a notice on the subject to the country’s financial institutions.

According to the BDE, registration is mandatory for companies operating in the cryptocurrency sector, regardless of whether they already have registration with the country’s central financial agency, that is, even banks. Such a requirement could confuse financial entities already licensed in Spain, as they are already directly supervised, Coindesk commented.

“The obligation to register in this form applies to all individuals or legal entities that provide exchange services between virtual and fiduciary currency and custody, regardless of whether they are also registered in other administrative records at the Bank of Spain or other competent authorities”, says a short excerpt from the BDE instructions.

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Another point is what clarifies the BDE about the registration of individuals who work in the exchange service in Spain, such as P2Ps. Something that the central bank makes clear is that these actors must register “regardless of the location of the service recipients”. However, both individuals and corporations will have to adapt or revise their money laundering policy.

Entities now have one week to start the registration process and deliver documentation. The BDE advises that “it is advisable to submit all documents complete from the start to avoid delays in processing the order”.

Cryptocurrencies in Spain

About four months ago, the BDE said it would provide instructions and the necessary forms to apply for registration. But the instructions have only just arrived, with just 7 days to go before the registration deadline.

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Another point of action by the BDE is the lack of clarity, since the entity works as the country’s central bank, but under the supervision of the European Central Bank (ECB).

The Spanish bank BBVA, for example, already has a bitcoin trading and custody service in Switzerland. CaixaBank, the third largest Spanish bank, is also preparing to explore the cryptocurrency sector with startup Onyze.

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