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Series E funds from big venture companies arrive at Coinbase for Crypto Adoption

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Coinbase has raised Series E Funds to the tune of $ billion. The participants of the funding spree are the big names in technology venture companies.

In the hope that cryptocurrencies and related digital assets would be the primary drivers of web 3.0, exchange Coinbase has raised Series E Funds to the tune of $ billion. The participants of the funding spree are the big names in technology venture companies like – Y combinatory Continuity, Andreessen Horowitz, Wellington Management, Poly Chain and the all-important Tiger Global management.

 

Funds for Following Features

The immediate use of the funds will in developing infrastructure for fiat and crypto for markets which are currently regulated.

The second focus is to offer infrastructure on Coinbase infrastructure to support over thousands of assets. Currently, the assets are only in their hundreds, and the championing exchange will concentrate on building capacity to scale and include as many numbers of coins as are available.

The third area of development where the crypto would be used is the utility applications for crypto. These include creating stablecoin such as USDC on Coinbase and will also offer sustained development with respect to coinbase wallet.

The fourth area of use of the new funds is in attracting institutional investors to the cryptocurrency sphere. The likely services it will expand into at this final stage is custody offerings. It will bring additional institutional funds across space.

At its core, coinbase will be the crypto asset building company. The exchange is leading the campaign to build in new capabilities so as to ramp and scale infrastructure to handle the mass adoption of cryptocurrencies such bitcoin n the near future.

Assuming leadership position across the US comes naturally to Coinbase management as their primary focus is to become the go-to place for every crypto investor. It continues to evolve the standards of services it offers, and in the course has bee carrying with it other exchanges and service providers to improve their standards. Thus the exchange’s attempts to improve and offer seamless services have to appreciate.

The latest funds that the exchange has at its disposal from some of the finest and defining venture capital companies in the world is aimed at bringing about disruptive and positive development from across the industry stakeholders.

 

CEO Brian Armstrong

According to the founder members of the exchange, the key reason they are continuing to offer only a few assets on their exchange is that they are focused on being compliant with the needs and laws of the United States Securities and Exchange Commission.

Typically the option of exercising an investment-seeking instrument such as the Series E funding is that there is an IPO in the near future. CEO of Coinbase Brian Armstrong has been highly articulate in terms of his desire to take Coinbase into public company structures.

 

Coinbase Chief Operating Officer, Assif Hirji said:

“We see hundreds of cryptocurrencies that could be added to our platform today, and we will lay the groundwork to support thousands in the future.”  

 

For Coinbase, its popularity is not undermined in any manner thus far, with the exception that its trading volume has been dropping-off in 2018.

#Blockonix

How to use Blockonix DEX: A step by step guide

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Blockonix is one of a kind decentralized exchange which runs on the ethereum blockchain. Every function of the exchange is entirely blockchain based. Starting from trading to listing a new token, every function occurs on the ethereum network. Not only this, the exchange is totally community drive. All the trading fee as well as the listing fee earned is either directly burnt forever or places a market order in the BDT/ETH (Blockonix Token to Ethereum) market to buy back tokens from the community members. The clear decentralized nature of the exchange makes it one of the safest cryptocurrency exchange in the world. Using a decentralized exchange may prove to be troublesome for some people especially the newcomers in the crypto space. Here is a step by step guide of how to use the Blockonix Decentralized Exchange:

 

Reading the pop-up:

blockonix 1

As you first visit the exchange website, a pop-up appears which explains the important measures to be taken care of in order to maintain the security of your tokens as well as a little about the working of the exchange. It is recommended to read each point clearly before starting to trade on the platform. Once you have read all the points thoroughly, click on ‘Done! Take me in.’ button on the last pop-up screen.

 

Start Trading:

blockonix 2

Once you have entered the Blockonix platform, you get a pop-up to link your wallet to the exchange in order to start trading. Due to the decentralized nature of the exchange, you have to trade with your own wallet rather than the wallet that most exchanges provide. This is quite fascinating for those who believe in Proof of Keys as the Blockonix exchange does not hold any user’s funds or tokens. To connect your wallet click on any of the suitable options listed on the pop-up screen:

  • You can create a new wallet: Only you will be the holder of this wallet. (Same as the case when you create a new ethereum wallet on MyEtherWallet).

or

  • Import your existing wallet by using your private key or JSON file.

or

  • Connect your hardware wallet (TREZOR OR LEDGER).

or

  • Connect using Metamask: Just unlock your metamask and refresh the page (It will be connected automatically).

 

Once you have connected your wallet, click on the Accounts tab on the header of the panel. Inside the Accounts Tab, you are able to see the tokens you currently hold in your wallet.

blockonix 3

 

To start trading the tokens you need to transfer the particular token (you wish to trade) from the Main Account to the Trading Account. For this click on the right-pointing arrow (blue colored) besides the particular token, you wish to transfer. (Note: The following tokens are transferred to the exchange contract address which is public, so you are still the only owner of your tokens). Once you click on the right-pointing arrow, a pop-up will appear asking you for the number of tokens you wish to transfer to the Trading Account in order to start trading. Enter the number of tokens and click on transfer.

 

  • If you have created a new wallet or imported your wallet using the private key or JSON file, the transfer shall be automated once you click on the transfer button.
  • If you are using Metamask, Trezor or Ledger: You need to manually approve the transaction (transfer) when prompted by the particular type of wallet. In the case of Metamask, you may be asked for approval two times rather than once.

 

Once you have made the transfer and the transaction gets approved on the ethereum network, you will be able to see your tokens in the Trading Account (Refresh the page once if you are not able to see the tokens even after the transaction is approved).

Once you see the tokens in your Trading Account, you can now start trading!

blockonix 4

  • Click on the Exchange Tab on the header of the panel and choose the type of instrument you would like to trade.

blockonix 5

  • Place an order by adding the details in the New Order section on the screen.
  • After filling the details click on Buy or Sell whatever you would like to do.

blockonix 6

  • A pop up will appear giving you a summary of the order you are going to place. Click on Buy or Sell if you are sure to place the order. Once you confirm, your order will be placed in the market once the transaction is approved on the ethereum network.

blockonix 7

If you are using Metamask, Ledger or Trezor: You will be asked to confirm the transaction manually by the particular wallet software. Confirm the transaction in order to place the market order.

 

blockonix 8

blockonix order book

  • Once the transaction is confirmed on the ethereum network, you order will be visible in the Order Book as well as in the Orders And Trades section. (Refresh the page if you are not able to see your transaction even after the ethereum transaction is approved).

 

BDT Token Burn:

All the fee earned by the Blockonix exchange is burnt forever. To check the number of burnt tokens:
Go to Etherscan and search the blockonix contract address:

0x741f58cd68d24f361cc0ee0d3aaf7df2bf16132e

https://etherscan.io/token/0x741f58cd68d24f361cc0ee0d3aaf7df2bf16132e

10

Click on ReadContract and Scroll Down to the 11th point (burntTokens) where the number of burnt tokens up to the day is mentioned (Please note: the value displayed here is a multiple of 10^18).

Once the tokens are burnt, the total supply of BDT token is automatically reduced.

 

The Blockonix Contract Source Code is also made public by the exchange:

https://etherscan.io/address/0x741f58cd68d24f361cc0ee0d3aaf7df2bf16132e#code

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#Exchange

Stock Exchange of Thailand moving towards Cryptocurrency

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The Stock Exchange of Thailand or the SET is working out for applying for a digital license in order to run a cryptocurrency exchange.

The Stock Exchange of Thailand or the SET is working out for applying for a digital license in order to run a cryptocurrency exchange. With continuous regulations, Thailand is set to become the cryptocurrency hub in Southeast Asia.

 

Stock Exchange of Thailand: Interested in Crypto

As more and more people are moving towards adoption of cryptocurrencies, institutional investors are getting attracted too. As such there not many specific institutional platforms for trading cryptocurrencies and thus the stock exchange of Thailand is planning to introduce one for the institutional investors. If the financial regulators in Thailand approve the licensing, it would be a great step ahead for the crypto industry.

Pattera Dilokrungthirapop, who is a member of the board of directors of the Stock Exchange of Thailand, the exchange is getting ready to invade into the cryptocurrency market by presenting brokerage services for crypto trading.

She also said they believe that cryptocurrencies will grow massively in the future as more and more investors gain an understanding about them. She added that securities firms are curiously waiting for the Stock Exchange of Thailand to apply for the digital license.

 

Thailand: A cryptocurrency hub

Thailand is steadily moving ahead in the crypto space with regulatory clarity unline other surrounding countries such as China and India who are moving away from crypto adoption. Thailand is all set to become a captivating place for cryptocurrency and blockchain businesses with the government of the country also promoting blockchain technology. Last year, Thailand also legalized some cryptos such as bitcoin, litecoin, ethereum and more while the securities and exchange commission of the country has also given clear regulations in relation to initial coin offerings. Around 2 weeks back, the Ministry of Thailand had also granted licensing to three new cryptocurrency exchanges to operate in the country,

 

What are your thoughts on the future of cryptocurrencies in Thailand and how the Stock Exchange of Thailand moving towards cryptocurrencies will help the overall crypto industry? Tell us in the comments section below.

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#Exchange

Cryptopia cryptocurrency exchange hacked: Millions Stolen

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cryptopia-cryptocurrency-exchange-hacked-millions-stolen

Cryptopia, the New Zealand based cryptocurrency exchange was allegedly hacked on 14th January. The hackers were able to steal cryptocurrencies worth millions of dollars. According to the exchange, the local police authorities and New Zealand’s unit of high tech crimes are looking into the matter.

 

Cryptopia Hacked!

Cryptopia informed its users about the incident in a tweet yesterday explaining that the exchange had suffered a security breach which led to the loss of funds due to hacking. Cryptopia exchange was later put into maintenance while the team was trying to assess the damage. The exchange shall remain in maintenance mode and trading will be suspended until the issue has been resolved. The website of the exchange itself is offline.

On 13th January 19,391 ETH (Ethereum) worth around $2.5 million and 48,029,306 CENNZ tokens (Centrality) worth around $1.18 million were transferred from Cryptopia exchange to unknown wallets. However, the owner of the wallet is not yet confirmed. It could be the exchange itself or the hackers.

 

Here are the details of the transactions:

Transaction 1: 19,391 ETH

https://etherscan.io/tx/0x8a7c2b34f23eee02401e7c3fa1ea2ce8d3132e7ca3811d673ca35898c9535aae

Transaction 2: 48,029,306 CENNZ

https://etherscan.io/tx/0x31a58df14ea3420878267e2b9cdd242d983b5298ef48c5cd9a799ed10605f393

 

Crypto Reputation:

The increasing number of exchange hackings has led to spreading of negative reputation of cryptocurrencies. People are starting to lose hopes in crypto exchanges. Last year, CoinCheck, a Japenese cryptocurrency exchange was hacked which led to around $500 million of funds being stolen. If such incidences continue to occur, the newcomers in the crypto space will lose confidence over cryptocurrencies and hence the whole cryptocurrency market will have to suffer.
Prominent people in the crypto industry are calling out for people to opt for decentralized exchanges which are much more safer in comparison to the Centralized ones.

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