Category: Bitcoin Wallet

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Robinhood launches cryptocurrency giveaway program

The Robinhood trading platform is launching a crypto distribution program, which allows users to distribute various cryptocurrencies, including bitcoin, dogecoin, ether, bitcoin cash and litecoin. As with trading cryptocurrencies, freebies are commission-free and users can only offer $1 worth of encryption.

Robinhood Crypto Offering Program

Robinhood on Thursday announced the upcoming release of Robinhood Crypto’s “Cryptocurrency Giveaway Program“.

Users can bid as little as $1 worth of encryption, according to details on the Robinhood website, noting that it can take 3-5 days for the fund to settle. “As with trading cryptocurrencies, giveaways are commission-free,” said Robinhood, adding:

Once you've personalized your unique gift, you can send it directly to your loved one via a special link that will go directly to your phone.

The cryptocurrency distribution program is scheduled to launch on December 22nd. However, cryptocurrency giveaways are not available in Nevada or Hawaii, notes the Robinhood website.

“Once the sender has selected and confirmed the requested amount and cryptocurrency, the sender is solely responsible for sharing a link to the gift, and the recipient can use that shared link to accept the gift”, details the terms and conditions of the Robinhood encryption. gifts. The company added:

Make sure the recipient has a Robinhood Crypto account to accept the gift within 14 days. For unaccepted gifts, don't worry; You will not be billed and still have the bragging rights to distribute cryptocurrencies during the holidays.

Robinhood Crypto currently supports buy, sell and real-time market data for bitcoin (BTC), bitcoin cash (BCH), bitcoin sv (BSV), dogecoin (DOGE), ethereum (ETH), ethereum classic (ETC) and litecoin ( LTC).

Supporters of the shiba inu cryptocurrency meme asked on Change.org for Robinhood to include the SHIB. However, Robinhood has previously said that he was in no hurry to list another cryptocurrency.

Robinhood’s third-quarter transaction-based revenue totaled $267 million, including $51 million from cryptocurrency trading. In addition, 40% of its revenue from cryptocurrency transactions for the three months ended September 30 was attributed to dogecoin transactions.

Earlier this week, Chainalysis announced it had partnered with Robinhood to strengthen the trading platform’s compliance ahead of the release of its cryptocurrency portfolio.

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Idaho’s Largest Credit Union Now Offers Buying and Selling Bitcoins

The functionality was made possible through a partnership between the credit union platform provider and NYDIG.

Idaho's largest credit union has integrated Bitcoin services into its platform.

Idaho Central Credit Union customers can now buy, sell and hold BTC in their bank accounts.

The largest credit union in Idaho, United States, has integrated Bitcoin services into its banking platform, allowing its customers to buy, sell and maintain BTC in their accounts. The new functionality was made possible through a partnership between digital banking solutions provider Idaho Central Credit Union (ICCU), Alkami Technology Inc. and institutional bitcoin broker NYDIG.

“ICCU’s focus on member expertise and providing a wide range of solutions has enabled it to build a reputation as one of the leading credit unions in the country, and its decision to implement bitcoin services implementation through NYDIG and NYDIG Alkami platform can drive this growth, “Patrick. Sells, director of innovation at NYDIG, said in a statement.

Alkami offers cloud-based banking solutions for banks and credit unions across the United States. In June, the company added NYDIG to its Gold Partner program to allow its institutional clients to easily add bitcoin buying and selling capabilities to its platform. ICCU is the last institution to benefit from the partnership and integrate Bitcoin services into its platform, allowing its customers to buy, sell and keep the asset.

NYDIG will provide back-end bitcoin trading and custody services, allowing ICCU customers to gain exposure to the dollar price of Bitcoin. Considering the resource retention aspect, ICCU customers will not be able to keep their purchased BTC, a major disadvantage for those who wish to benefit from the financial independence that Bitcoin allows. As custodian, NYDIG will effectively provide bitcoin promissory notes to ICCU account holders.

The new addition serves as a convenient ramp for reluctant customers looking to gain initial bitcoin exposure. However, over time, there is a natural incentive for investors to buy and hold bitcoin on their own, the only way to truly benefit from Bitcoin’s sovereignty and value proposition of freedom.

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German Association of Savings Banks considering Crypto Wallet

Savings banks (Sparkasse) in Germany are developing an encryption project that will allow their customers to trade cryptocurrencies directly through their checking accounts.

Cryptocurrency trading without KYC

The German Association of Savings Banks, which includes more than 400 savings banks across the country, proposes a digital wallet option directly accessible through savings accounts. IT service provider S-Payment is preparing the concept to be presented to committees in early 2022. If approved, the project will allow the bank’s customers to directly purchase cryptocurrencies such as BTC and ETH. This means that customers would not have to go through lengthy and tedious KYC processes to join an encryption trading exchange. Instead, they can conduct their cryptographic activities directly through their Sparkasse checking accounts. Furthermore, Sparkasse’s legitimacy coupled with a volatile asset class such as cryptocurrency would attract financially conservative German clients.

Banks eager to launch encrypted wallet

If the committees approve the pilot, a bank-sponsored digital wallet can be launched by the end of next year. Individual savings banks would be responsible for initiating all related pilot projects. Even if the project is collectively given the green light, each of the 370 savings banks will be able to make the final decision whether to offer encryption services to customers or not. However, most banks are already very interested in the project.

With around 50 million customers, savings banks are market leaders among German financial institutions. When the digital wallet is launched, this entire customer base will be eligible to trade cryptocurrencies and this will bring a new economic dawn to the European banking scene as a whole. Many newer financial institutions and organizations, such as PayPal, have started offering encryption services to customers around the world. However, this will be the first time for a traditional financial institution of this size to venture into the world of cryptocurrencies.

Encryption as protection against inflation

The launch of the cryptographic services pilot program can be interpreted as Germany trying to provide protection to its citizens against rising global inflation. The president of the German Association of Savings Banks, Helmut Schleweis, pointed to the erosion of wealth that occurs due to the “toxic combination” of high prices and low interest rates on investments. With cryptocurrencies like the BTC slowly emerging as a solid hedge against inflation, the pilot project could witness major economic turmoil for Germany in 2022.

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Crypto Exchange Binance to End Singapore Operations in February 2022

The world’s largest cryptocurrency exchange, Binance, is set to withdraw its operations from Singapore. In the latter, Binance Asia Services Ltd., the Singapore crypto exchanger, said it withdrew its application for a license to operate a crypto exchange.

As a result, Binance should no longer seek further efforts to operate a regulated exchange crypto under the regulatory oversight of the Monetary Authority of Singapore (MAS). Binance.sg, the fiat to encrypt the trading platform, is expected to be delisted in February 2022, the exchange told Bloomberg.

Well, the decision also ends long-standing speculation about Singapore’s emergence as Binance’s global headquarters. The company also noted that the decision has taken into account “global strategic, commercial and development considerations.” Richard Teng, CEO of the Singapore entity, said:

“We always put our users first, so our decision to close Binance.sg was not taken lightly. I thank the Monetary Authority of Singapore for their continued assistance to Binance Asia Services and I look forward to future opportunities to work together. "

Instead, Binance Asia noted that it will redirect its operations to blockchain technology. Interestingly, the decision to exit Singapore comes just a week after Binance acquires an 18% stake in Singapore-based crypto exchange Hg.

Binance Global Plans

Having received a lot of regulatory criticism this year, Binance appears to be optimizing its global operations. The fact that the crypto exchange does not have a global headquarters has infuriated investors around the world.

During his latest interview, Binance CEO Changepeng Zhao stated that they are working to rebuild their business in the UK. “We are fully committed there. We are making a number of substantial changes to organizational structures, product offering, our internal processes, and the way we work with regulators. We want to continue to establish a presence in the UK and serve UK users in a fully licensed and compliant manner, ”he said.

Zhao, who has lived in Singapore for two years, is sending mixed signals about where Binance finally plans to move: Europe or the Middle East.

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