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Bitcoin Price Is Up – And So Are Bitcoin ATMs in the US

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Bitcoin is on the rise again, creating a need for an easy method of buying and withdrawing funds as more consumers begin to invest. With the potential for security breaches on the usual digital platforms scaring away investors, consumers want something safer, something better.

With the surge in Bitcoin prices comes a parallel surge in the number of crypto ATMs across the country. These user-friendly machines don’t require a tedious online sign-up process asking for any of your banking information. They simply let you buy and eventually cash out your assets.

Contrary to earlier versions of cryptocurrency ATMs that were hard to find and often in sketchy businesses, these newer models are located in highly secure areas like shopping malls and sometimes in reputable gas stations, where you can feel safe making your transactions.

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It’s simple: you select how much Bitcoin you want to purchase and insert cash to complete the secure transaction. If you are planning to cash out and withdraw funds from your digital wallet, you can do that too!

With the recent uptick in the price of Bitcoin and the related uptick in interested consumers, more and more cryptocurrency ATMs have been popping up across the country. A simple Google search can help you find locations near you.

Relying on these in-person transactions is much safer than the online platforms that don’t always offer the most helpful customer service. 

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Right now, Bitcoin is moving at an above-average rate, suggesting that it has the momentum to continue on an upward trend. And while prices may not have reached past their previous high points, these higher averages in movement are suggesting that there may be a spike in the near future. Trends across reports lead us to believe that there is no sign of weakness in Bitcoin’s value.

But what, exactly, is causing Bitcoin’s price to increase so much? One major factor that plays into the price is how much positive press a cryptocurrency gets. When people feel safe investing in a cryptocurrency and using crypto ATMs due to the support of high authority press, they are more likely to invest. This helps the price increase and improves the value of existing assets, be it Bitcoin or any other cryptocurrency that widely gains trust.

Currently, there is an ongoing attempt to introduce more regulations for asset safety. One of the biggest deterrents for consumers in investing in cryptocurrencies is that this asset class is largely unregulated. As a result, while this has fueled speculation among some people, many regular investors do not feel comfortable investing in crypto. 

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However, now most states have promoted policies to ensure the safety of crypto buying and trading. The US Treasury Department has even proposed a bill to ensure crypto traders maintain accurate records of everyone buying and selling.

In addition to the US trying to make cryptocurrencies safer and more accessible to investors, Europe, Canada, and even Latin America are working on legal actions to protect their consumers.

With leaders of governments and multi-national companies showing faith in cryptocurrencies, people are gaining more trust in the process of buying and selling cryptos and are more interested in getting involved. Although initially there was a learning curve with the crypto market, and the community was fairly small. Today, there are people taking courses to understand the market conceptually. Globally, most countries now have crypto exchanges and mobile applications that help commoners trade with cryptocurrencies. 

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Although the cost of cryptocurrencies is increasing, does this mean consumers should actually stop buying? Of course, it’s better to buy low and watch your profits soar, but you also don’t want to risk the price getting even higher and missing out on any profits at all.

According to Cove Markets, there are more factors than you may think that go into deciding when it’s the right time to buy. Exchange rates and fees, the type of purchase you make, and your strategy all determine when you should jump into the cryptocurrency market.

Your finances and how much risk you are comfortable with will determine the right time for you to buy, but of course, you want to take a shot when the prices are trending low. Cove Markets does, however, put their faith in Bitcoin as the strongest cryptocurrency to invest in for its global popularity.

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Regardless of when you buy (or even when you sell!), you can count on a crypto ATM to be there whenever you need to use it. In fact, if prices continue their upward trajectory, you might see even more ATMs in the neighborhood!

To determine your plan of action, you should consider future projections that might have an impact on your decision. 

Bitcoin has an end goal of allowing 21 million Bitcoins into circulation. Right now, close to 19 million have been created, and are currently going for just about $41,500 a coin. That’s approximately a $780 billion market cap!

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Some prominent financial analysts predict Bitcoin will one day be worth anywhere between $250,000 to $4 million. That’s a considerable margin, but one that could make you a massive profit if you invest at the right time.

It will be a continuous cycle as people continue to invest and more crypto ATMs are installed, leading to even more press coverage that gets even more consumers interested. Over time, the value will go up and down, but Bitcoin isn’t going anywhere.

The introduction of crypto ATMs in businesses in your town is not only good for Bitcoin’s exposure, though. It’s also beneficial to the locations housing the machines, getting more people who might not usually visit through their doors.

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All it takes to use one of the ATMs is to set up an account for a digital wallet using only your phone number, then insert cash to finalize your transaction.

            Some cryptocurrencies today are recognized and accepted as a form of payment by many establishments. They are not just investments sitting in virtual wallets. With adequate research, one can invest in the crypto market and get a significant return on their investment.

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Terra prepares to burn more than 9% of LUNA’s total supply

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Burning nearly 90 million LUNA tokens into the community pool can put an upward pressure on the native token’s price.

Do Kwon, co-founder and CEO of Terraform Labs, the South Korean company behind the blockchain project Terra (LUNA), recently announced on Twitter that on-chain voting for project 44’s proposal will begin on Wednesday. ).

The proposal to start burning 88,675,000 LUNA from the community pool to mint 3 – 4 billion UST will reduce the total supply of native token by more than 9%.

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TVL on Earth reached ATH

After the integration of the IBC protocol last week and the launch of Wormhole V2 support for Terra, the total blocked value (TVL) in protocols on the network has reached a new high.

Last week, TVL on Earth reached $10.22 billion, with the Anchor, Lido, Mirror and Terraswap protocols accounting for more than 90% of the amount, according to data from DeFi Llama.

Currently, at US$9.97 billion, Terra is ranked as the fourth blockchain with the largest TVL, following Ethereum, Binance Smart Chain and Solana.

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New Bitcoin ETF Offers Shorting Bitcoin Futures, Creators Warn of Multiple Risks

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Direxion has filed for a Bitcoin ETF that allows traders to short BTC futures contracts

According to an article by Bloomberg, a new Bitcoin ETF, if approved, will enable traders to short Bitcoin futures. The filing was submitted on Tuesday, Oct. 26.

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Direxion wants to launch Bitcoin futures ETF for short-sellers

Bloomberg has written that, on Oct. 26, Direxion submitted documentation to launch the Direxion Bitcoin Strategy Bear ETF. Last week, two ETFs that track the performance of Bitcoin futures were launched by ProShares and Valkyrie.

Now, the BTC futures ETF industry in the U.S. may reach a new milestone—if the launch of the ETF for bears is approved by the U.S. Securities and Exchange Commission.

The debut of Bitcoin futures products last week prompted Bitcoin growth to almost $67,000 and a new all-time high.

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However, today, the flagship cryptocurrency retreated below the $60,000 level as a mind-blowing half-a-million worth of liquidations were conducted across major exchanges: Binance, Bitfinex, OKEx, Huobi and so on.

Slightly over $500 million worth of those crypto liquidations were long positions.

BITO ETF gains $1 billion in just two days

ProShares Bitcoin ETF last week became the second-most-traded asset on the NYSE on its first day of trading. Buy orders to the tune of 10,100 were placed on BITO (the ticker the ETF goes by), and seven times more orders were placed to sell it.

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After trading for two days, BITO reached $1 billion in net asset value. That is the equivalent of the net asset value of several Canadian Bitcoin ETFs that have been trading for a while already.

Direxion fund bears lots of risks

The new Bitcoin ETF filed for by Direxion bears numerous financial risks for short-sellers, the company warns. Trading this ETF may lead to shorters getting wiped out, Bloomberg writes, and Bitcoin’s massive price swings would be a problem here, too.

The SEC filing states that if you are not prepared to lose all your funds by investing in this ETF, you should not bet on it.

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This week, some in the crypto community also expect another Bitcoin futures ETF to kick off—the one filed for by the VanEck asset manager.

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Blockstream is sponsoring this tech for scaling Bitcoin [BTC]

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Major blockchain technology company, Blockstream has announced its sponsorship of work on Federated E-Cash. For the uninitiated, David Chaum was the man behind the concept of E-Cash that predates Bitcoin.

E-Cash Federation, on the other hand, is an entity that comprises of independent members assembled to develop a multi-sig wallet for the purpose of being a “blind, distributed custodian by acting as an e-cash mint.”

One of the main factors that have impeded Bitcoin’s adoption is scalability. On that note, Adam Back-led Blockstream has made significant strides. Even as scaling solutions like the Lightning network and federated sidechains have paved the way for large-scale adoption of the crypto-asset, they are yet to see substantial growth. Here come Federated blind mints, which the tech firm believes are a “natural complement to the existing scaling solutions.”

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Blockstream’s tryst about Bitcoin scaling

Blockstream stated that Federated E-Cash can help scale Bitcoin. It cited an innovative exciting possibility of integrating LN into federated mints. This, in turn, would make them interoperable with each other and the broader space. It further stated,

“One could imagine the emergence of community-run federations, where users have a natural trust in the federation members, which isn’t the case with traditional custodians. For the larger number of Bitcoin users who rely on custodial wallets to store their bitcoin, switching to an E-Cash Federation, reduces the trust profile and increases the privacy guarantee for these users.”

Blockstream is looking at an experimental project of a Federated E-Cash scheme dubbed MiniMint that is currently under development.

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$16M Funds for Bitcoin mining STO

The latest news comes a week after Blockstream announced raising $16 million funds in the sixth tranche of its BTC mining-focused security token [STO], called the ‘Blockstream Mining Note [BMN].’ This marked the rapidly rising interest from individual and institutional investors.

It was in March 2021 when Blockstream formally unveiled its BMN security token. Its offering essentially facilitated non-United States investors with an alternative to mine Bitcoin or invest in BTC mining stocks mining BTC with the help of BMN’s associated hash rate. Additionally, it was issued on Bitcoin’s Liquid sidechain with each BMN Series 1 granting market players up to 2k Tera hashes per second of BTC mined at the Canadian blockchain technology company’s enterprise-grade mining facilities.

Besides, Blockstream is also gearing up to list its BMN security token on Bitfinex Securities, which happens to be a relatively new STO platform by Bitfinex.

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Blockstream’s tryst about Bitcoin scaling

Blockstream stated that Federated E-Cash can help scale Bitcoin. It cited an innovative exciting possibility of integrating LN into federated mints. This, in turn, would make them interoperable with each other and the broader space. It further stated,

“One could imagine the emergence of community-run federations, where users have a natural trust in the federation members, which isn’t the case with traditional custodians. For the larger number of Bitcoin users who rely on custodial wallets to store their bitcoin, switching to an E-Cash Federation, reduces the trust profile and increases the privacy guarantee for these users.”

Blockstream is looking at an experimental project of a Federated E-Cash scheme dubbed MiniMint that is currently under development.

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