Author: changehero
March 31, 2020

Back in 2008, and even before that, enthusiasts like Satoshi Nakamoto were coming up with ways to give the power of the money back to the people. The one that came to be the most prominent — Bitcoin — was envisioned as an “electronic cash” system. While a lofty goal in itself, it eventually was […]

What is Bitcoin Cash by ChangeHero

Back in 2008, and even before that, enthusiasts like Satoshi Nakamoto were coming up with ways to give the power of the money back to the people. The one that came to be the most prominent — Bitcoin — was envisioned as an “electronic cash” system. While a lofty goal in itself, it eventually was up to the followers to make this goal true. For that purpose, through polemics and discord, a few visions have risen up — now known as Bitcoin forks. This time we‘re going to have a look at one of those forks, Bitcoin Cash, to tell you how and why it came to be and how it works.

Let’s start with a brief explanation of what a fork is. You can think of a fork as an update for the blockchain. It usually puts new protocols in place. Forks can be divided into soft forks and hard forks, which irreversibly change the blockchain. However, there are times when a hard fork is not supported by the entire community. If the divide is significant enough, it is possible that after the update both original and updated versions will continue to exist. However, in this case, the new records on the divergent chain will not be supported by the original one, and vice versa.

The Block Size Dilemma

While in 2017 Bitcoin was on the rise, but mainly as a trading asset and a unit of value storage — it didn’t really go mainstream before that. However, the debate about the future of the network has been going on in the community for about three years. The block size in Bitcoin blockchain was only 1MB, and the increasing load was not going too well for the network. The community started pushing the idea of increasing the block size, but not everybody agreed. Alternatively, SegWit was offered as an option. SegWit, or Segregated Witness consensus layer, separates digital signature (input that verifies the sender has enough Bitcoin to send) from the transaction, which makes it take up less space. On top of that, second-layer solutions like Lightning Network (a network of off-chain channels) would have to be further implemented.

Why would the idea of a bigger block be controversial, though? The thing is, Bitcoin is based on the Proof-of-Work. A larger block in a PoW blockchain means increased mining maintenance. While it would do wonders for scalability and increase the transaction speed significantly, it would also make mining more demanding and therefore, less decentralized.

Bitcoin fork
Bitcoin Cash hard fork as explained by Bitcoin.com

After a years-long back and forth, it became evident that a compromise could not be reached, and so, on August 1st, 2017, the fork took effect. The new chain was backed by large mining pools like ViaBTC, mostly based in China. ViaBTC investor, Jihan Wu, co-founder of Bitmain, is often called a leading proponent of the fork. Bitcoin.com also supported the split by virtue of Roger Ver.

The Voices of the Community

Often called a “mastermind” behind the fork, Jihan Wu is a co-founder of Bitmain and has been running his own company, Matrixport, since 2019. His influence over the cryptocurrency industry in China is peerless — Bitmain has been the largest provider of hardware for Chinese miners for a long time, and his net worth makes him the second richest person in China in the sphere, second only to his fellow co-founder Micree Zhan.

Bitcoin Cash is also strongly associated with the name of Roger Ver. While surely not the only individual behind those, he’s one of the most prominent figures associated with these events and Bitcoin Cash itself, as its most vocal and influential supporter. He ran his own company Memorydealers for 13 years and served as a CEO at Bitcoin.com until 2019. Among his investments are Kraken, Ripple, blockchain.info and Bitpay. An early Bitcoin adopter and investor, he is also known for his anarchist and libertarian views.

Roger Ver
Roger Ver. Source: Forbes

BCH Essentials

Bitcoin Cash is designed to recreate the original vision for the Bitcoin: peer-to-peer electronic cash. If we compare it to the digital payments of today, it certainly has its advantages: generally lower fee for transactions, more reliability thanks to the confirmation mechanism, permissionless and higher speed of transacting.

How does Bitcoin Cash work, anyway? Unsurprisingly, in a lot of ways it is similar to its “parent” currency, Bitcoin. It also uses the Proof-of-Work consensus mechanism, its block size and difficulty is adjusted in the same way as with BTC, to produce a new one every 10 minutes. However, the block size limit is maintained at 32MB, and the difficulty adjustment algorithm is more effective than that of the original. Theoretically, this will allow to process up to 280 tx/s.

At the time of writing the article. Bitcoin Cash is ranked 5th with the market cap of $4,053,160,495, price $220.76, traded volume $3,200,825,776 and 18,360,300 BCH in circulation according to CoinMarketCap.

Bitcoin Cash is all about utility, so much so that they aim to compete with or even replace fiat currencies. This is why they promote their solutions to businesses worldwide, and now thousands of vendors accept payments in Bitcoin Cash. The ecosystem also includes social sites like Memo — Bitcoin Social Network or Honest Cash. And as expected from a major cryptocurrency, you can buy or sell it on most exchanges, in apps and services.

What’s In Store for BCH: Roadmap and Halving

According to the roadmap of Bitcoin Cash, they sure are aiming for the Moon. Jokes aside, they do have such large goals as adoption on the global scale and exceptional extensibility planned. But that’s a really long term plan. Right now, the community is working on blockchain pruning, faster block propagation through the means of improving hardware, fee improvements and pre-confirmed transactions for merchants. The BCH blockchain upgrades twice a year on a timestamp rather than when a certain number of blocks is created. The next update is expected to be on May 15th. Among the other proposals, it is going to include the Infrastructure Funding Plan, the first and rejected version of which made news in January earlier this year, dubbed “mining tax” by the media.

At the time of writing, in about a week or less, BCH mining rewards are going to be cut in half as a part of a hard-coded process called “halving”. Since out of the major SHA256 networks (others being BSV and BTC), BCH is going to experience halving the first, the hash rate is expected to drop since the miners will be switching to more profitable networks. As for the price, there is no confidence that BCH will follow the same positive trends that occur around BTC halving.

Summary

In November 2018, another hard fork occurred, resulting in further split of the community and inception of BSV. So now, in 2020, does any of the existing Bitcoin forks succeed in realising the original vision? We guess this is a question only Satoshi Nakamoto can answer. If not for the ongoing debates and discord within the community, Bitcoin Cash wouldn’t have the reputation that it has now, but it also wouldn’t even come to be. Some maximalists call this fork a scam abusing the name of the largest cryptocurrency. Others support the cause of BCH to enable convenient P2P transactions globally.

Bitcoin Cash is one of the cryptocurrencies you can exchange with ChangeHero with no sign-ups, at the best rates and extremely fast — just like envisioned, isn’t it?

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Author: changehero
March 26, 2020

In 2021, Chainlink continued its success of 2020 and renewed price records, but does it hold up now? We review Chainlink‘s fundamentals and current state, and give a Chainlink price prediction 2022 and the future years. Chainlink Price Prediction 2022-2030 Year Price 2022 $30-128 2023 $47.99 2024 $19.924–41.785 2025 $51.07-863 2030 $805-1,056 Bullish Chainlink price […]

Chanlink price prediction

In 2021, Chainlink continued its success of 2020 and renewed price records, but does it hold up now? We review Chainlink‘s fundamentals and current state, and give a Chainlink price prediction 2022 and the future years.

Chainlink Price Prediction 2022-2030

Year Price
2022 $30-128
2023 $47.99
2024 $19.924–41.785
2025 $51.07-863
2030 $805-1,056
  • Bullish Chainlink price prediction 2022 claims that it can climb above $100 as early as this year;
  • In a couple of years, in 2023, Chainlink is expected to appreciate by at least twice from now;
  • Opinions differ on how far Chainlink can rally in 2025. Some estimates put it at twice the current price while others think it will be high in triple digits;
  • As for breaching $1,000, this is a target for the further future of LINK up until 2030.

What is Chainlink and LINK?

Chainlink logo
Source: chain.link

Chainlink is a decentralized network of oracles — programs that can connect off-chain data with on-chain functionality like smart contracts. An oracle does it by “translating” this data into a set of smart contracts and verifying it with other oracles.
The Chainlink network is finding a lot of use in DeFi: for instance, it can feed the price data to the decentralized exchanges. Google Cloud is using Chainlink as a tool for developing blockchain applications.
The oracle operators in Chainlink are rewarded for verifying data in LINK tokens. They can serve as a collateral to improve the trust rating of their node, which means more jobs for it.
If you want to know more details about how exactly Chainlink works, we recommend referring to our Beginner’s Guide to Chainlink.

Chainlink Price History

Chainlink Price in 2017–2019

Chainlink prce in 2018-2019
Source: CoinMarketCap

Chainlink testnet and LINK was launched in Q3 of 2017. In an ICO, LINK was sold for about $0.11, and at the same price it entered the market.
At the end of 2017, following the market, it rose to over $1.The 2018 correction was followed by a bear market in LINK as well.
The closing price for LINK in 2018 was about $0.3. 2019 was the year when the Chainlink’s success truly began with the launch of mainnet.
Not long before the mainnet went live, Google Cloud announced they will start developing hybrid blockchain-cloud solutions using Chainlink. After this Chainlink news, the price pumped to little short of $4.
The year closed with the LINK price at $1.80, but it ended up being one of the best performing assets in 2019.

Chainlink Price in 2020–2022

Chainlink prce in 2020-2022
Source: CoinMarketCap

By the end of June 2020, LINK already beat the previous price record, and on July 16 reached $8.80. It was mostly caused by the launch of the Chinese national blockchain network, which has Chainlink price oracles integrated.
Over the course of 2020, LINK was among the top performing DeFi coins. The rally continued in 2021, and the current ATH of $52.88 was reached on May, 10.
The sell-off in cryptocurrencies caused LINK to fall off that high sharply back to $13.78 by July. When the bull run resumed, LINK managed to climb up only to $34.34.
At the opening of 2022, Chainlink token was worth $20.67. Today, at the moment of writing, the LINK price is $27.13, and in the CoinMarketCap rating it ranks 16th.

What can influence the Chainlink price?

Partnerships

For Chainlink, the most value comes from the partners who use their product. Existing collaborations include large players such as Google, SWIFT and Intel.
The focus of the team today is in integrating other blockchains into the network. For that purpose, they are giving grants for projects that will include Solana, Polkadot, Filecoin and Tezos in the ecosystem.
Chainlink’s utility can be an asset for the booming NFT market as well. American footballer Dez Bryant recently announced a collection of non-fungible tokens that will change stats based on the athletes’ performance, the information provided by Chainlink.

Decentralized Finance

Since Chainlink’s utility comes from on- and off-chain communication, there are a plethora of use cases for Chainlink in DeFi. For this purpose, Chainlink is being integrated into such projects as Bancor v2, Celsius Network and Synthetix.
In 2021, Chainlink expanded their Verifiable Randomness Function to dApps on Binance Smart Chain and Polygon. Expanding beyond Ethereum’s layer one to layer two solutions and other blockchains presents a unique opportunity for the project.

Institutional Adoption

The Chainlink network is also seeing a considerable amount of recognition for its utility even from the government and financial institutions.
As it was mentioned, it is integrated in the Chinese national Blockchain Service Network. Grayscale is now offering LINK exposure with its trust.
Partnerships and working use cases like this certainly increase the credibility and value of the project and, as a result, attract the interest of investors to the token as well.

Tweets about LINK


One of the “LINK Marines”, as the community calls itself, Dan Gaines has faith that Chainlink can do what Apple, dot-com companies and Google have done. Given the background, this is not baseless.


Another user, LINK Collector suggests that after DeFi and NFTs, Chainlink will break into the metaverse. After all, it will need a reliable way of interacting with the real world.


Trader Johnny analyses the rally that started this year and is confident that it will keep up at it. The key to moving past $30 is a strong uptrend and bullish sentiment upon a net-positive 2021 close.

Chainlink Price Prediction 2022

CoinsKid LINK price prediction 2022: $128


Chainlink closed December and 2021 below the moving average, pointing at a possible downtrend. To add to that, the monthly chart is making up a descending triangle, a bearish pattern.
However, back in late 2019 to early 2020, the same pattern formed and was followed by a breakout to the upside. Projecting the same rally to the current charts would put resistance all the way up to $128 by the end of 2022.

AMB Crypto LINK Price Prediction 2022: $30-50+

Varuni Trivedi of AMB Crypto analyzes the current price movements of LINK. Her conclusion is that Chainlink markets can move well over the current ATH.
The main condition for this to happen is retail interest, which is on the rise as the address activity increases. The crucial support area lies at the psychological mark of $30, and if it is breached, the uptrend could continue.

PricePrediction.info LINK Price Prediction 2022: $39.93

PricePrediction.info at the moment of writing estimates that LINK can reach $39.9366 until the end of 2022. With the current price at $27.13, the change that will occur is +47.2%.

Chainlink Price Prediction for 2023–2024

CoinArbitrageBot Chainlink Price Prediction 2023: $47.99

The CoinArbitrageBot info hub today shows that by 2023 Chainlink token’s price will increase. The 2023 average is predicted to be $47.9894.

TradingBeasts LINK Price Prediction 2024: $19.924–41.785

Another source gives a moderately bullish prediction for Chainlink in 2024. Holders have to be ready for some negative changes, too, as 2024 can start as low as $19.924 for LINK.
However, ultimately the change is projected to go upward to maximum $41.785 for LINK in December 2024.

Chainlink Price Prediction 2025

LINK Price Prediction 2025 by DigitalCoinPrice: $56.67 average

Chainlink price prediction 2025
Source: DigitalCoinPrice

DigitalCoinPrice gives a somewhat conservative prediction. By December 2025, LINK will be traded around $57.56. Lowest prices that year are expected to be seen in February, when on average LINK will be worth $51.07.

CryptoRating LINK Price Prediction 2025: $863

Due to the strong fundamentals and use case of Chainlink, CryptoRating gives a very bullish Chainlink forecast. Over the course of five years, the token’s price on average will grow and increase by +3,823%, coming up to $863.
While this return looks too promising to be true, mind that LINK’s return on investment is already 16,539%. Anything is possible in the world of crypto!

LongForecast Chainlink Price Prediction 2025: $75.02-138.52

Longforecast paints a pretty bullish picture for LINK in a few years. Even the lowest lows of 2025 at $75.02 will amount to a 300% growth in comparison to today.
As for the highs, summer promises to be hot with LINK trading for up to $138.52.

Chainlink Price Prediction 2030

Trying to guesstimate a possible Chainlink price in ten years is far from easy. The LINK Price Prediction by Cryptocurrency Price Prediction gives the estimated range of $805–1,056 for LINK price throughout the year 2030.

Chainlink Price Prediction by ChangeHero

Chainlink is truly one of the most promising projects connecting crypto with the real world — literally and figuratively. The experts’ informed opinions confirm that with more partners joining the ecosystem, the value of the network will keep rising. It is very likely, in our opinion, that another new all-time high will be reached this year.

How to buy Chainlink (LINK)?

You can get LINK tokens on ChangeHero at the best rates and with no registration — feel free to join the ranks of LINK marines!

  1. Choose the currencies on the home page, amounts and the type of exchange. Provide your wallet address in the next step and check the amounts;
  2. Double-check the provided information, read and accept the Terms of Use and Privacy Policy;
  3. Send in a single transaction the sum of cryptocurrency you will be exchanging. Fixed Rate transactions have a 15-minute limit;
  4. All done? Now we are doing all the work: checking the incoming transaction and doing the exchange as soon as it arrives.
    • The Best Rate transactions will use the rate current to the time when your funds arrive.
    • The Fixed Rate will use the rate at the time of step 1;
  5. As soon as the exchange has been processed, your LINK is on the way to your wallet.

Our customer support is available any time, any day in the chat on the website or through the email: [email protected].

Conclusion

Here is our prediction and experts’ opinions on Chainlink’s future price. It may not be as hyped as it was in 2020 but by now it is a project with a well-established reputation.
Let us know what you think in the comments in our blog! Join the discussion on Twitter, Facebook, Reddit and in Telegram. We’d be happy if you subscribed, while you’re at it 🙂

Frequently Asked Questions

[sc_fs_multi_faq headline-0=”h3″ question-0=”What is Chainlink?” answer-0=”Chainlink is a chain-agnostic decentralized oracle network. It is able to relay real-world information and data to smart contracts on supported blockchains.” image-0=”” headline-1=”h3″ question-1=”What will Chainlink be worth in 2022?” answer-1=”Depending on the source, experts predict that in 2022 LINK can cost from $30 to $128.” image-1=”” headline-2=”h3″ question-2=”What will Chainlink be worth in 2025?” answer-2=”By 2025, LINK is expected to have grown up to $51.07 and even $863.” image-2=”” headline-3=”h3″ question-3=”What will Chainlink be worth in 2030?” answer-3=”The estimate for LINK’s price in 2030 is between $805 and $1,056.” image-3=”” headline-4=”h3″ question-4=”Is Chainlink a good investment?” answer-4=”Most of the cited opinions support the idea that Chainlink is a solid investment.” image-4=”” count=”5″ html=”true” css_class=””]

Disclaimer

This article does not constitute financial or investing advice. No price prediction or forecast is guaranteed to provide exact information on the future price. Past performance is not indicative of future results.

When dealing with cryptocurrencies, remember that they are extremely volatile and thus, a high-risk investment. Always make sure to stay informed and be aware of those risks. Consider investitions in cryptocurrencies only after careful consideration and analysis and at your own risk.

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Author: changehero
March 25, 2020

Although cryptocurrencies are notorious for their price volatility, this is by far an overgeneralization. There is a whole category of digital assets that are designed to improve on this weak point and deliver on the purpose of using digital currencies instead of fiat money — the stablecoins. In this quick guide, ChangeHero is going to introduce you […]

What is Paxos Standard

Although cryptocurrencies are notorious for their price volatility, this is by far an overgeneralization. There is a whole category of digital assets that are designed to improve on this weak point and deliver on the purpose of using digital currencies instead of fiat money — the stablecoins. In this quick guide, ChangeHero is going to introduce you to one of the most popular stablecoins out there, Paxos Standard (PAX), and explain how it is different from the rest.

A rundown on Stablecoins and PAX

In case you don’t know, a stablecoin is a digital currency, the value of which is backed by another reserve asset. Just like the name implies, stablecoins are designed to overcome volatility that is very common in cryptocurrencies. There are quite a few varieties of stablecoins, collateralized by fiat currencies, other cryptocurrencies or other kinds of collateral like precious metals or commodities.

Paxos Standard is a stablecoin pegged against USD on the 1:1 ratio (1 PAX = $1). It was designed to combine dollar payments with blockchain technology, to make payments fast and available anytime. In essence, it is an ERC-20 token. Unlike some digital assets that choose to build on their own blockchain, Paxos chose Ethereum consciously for the simplicity and minimalism of the smart contract. Besides, due to its nature, PAX can be accessed from any wallet that supports Ethereum blockchain.

Origin of And Design behind PAX

Paxos Standard might be the most radical answer to the Tether controversy in 2018 when the company provided dubious proof of backing of the currency. A few market giants saw their opportunity in the light of demand for a regulated alternative to USDT. GUSD, TUSD and USDC all emerged around the same time. However, PAX is different in the regard that it is not backed just by any dollar reserve, but by the dollars in reserve of its issuer, Paxos Trust. Why does that matter?

Well, for one, Paxos’ design was to create a digital currency that can be trusted. For that purpose, they aim for maximum transparency and security of the reserves. Paxos owns a legal charter from the New York State Department of Financial Services — an authority said to provide the most rigorous overview of the financial sector. As for transparency, Paxos regularly has Nomic Labs audit the PAX smart contract and Withum — its account reserves.

The People Behind PAX

Paxos is a long-established player on the market, founded in 2012. They have operated the itBit exchange in Singapore, but with the receival of a limited-purpose trust chapter from NYDFS in 2015, the range of the activities they were empowered to provide within the legal framework has expanded. According to their official website, they have been working on tokenization projects long before the need for Paxos Standard arised.

First and foremost, Paxos is a trust company. A trust company acts as a custodian or provisioner of services to third parties, therefore, these kinds of companies are subject to a higher level of regulation. Paxos sell their products on transparency and for that purpose, they publish monthly audit reports.

The members of their board of directors have extensive experience in innovation in technology and science, and their advisory board consists of members of American supervisory and regulatory legal bodies, among others.

Value and Adoption

As it has been said before, the value of PAX is backed one-to-one by USD deposits in Paxos’ custody. The company operates under the guarantee that PAX tokens are and will always be available for exchange and redeemable one-to-one for USD. To keep the value consistent, PAX tokens correspond to the amount of the USD in custody, and any tokens redeemed get burned.

At the time of publishing, Paxos Standard ranks 29th with $260,496,428 USD in market cap according to CoinMarketCap.

As a token, PAX has seen avalanche-like adoption on exchanges and other platforms like wallets and payment providers as early as within the first months of its life cycle. Last September marked PAX’s first anniversary, and so far they seem to be doing equally well. At the moment, they are working closely with BitPay, Nexo, Nitrogen Network, Bidali, Bleumi, Spend to provide cryptocurrency-related services with a stablecoin solution. So far, of course, the adoption of Paxos Standard is more within the crypto sphere rather than for institutional use, but with the expanding network of partnerships at Paxos, this might change in the future.

Paxos future plans
Source: Paxos

Paxos Family of Tokens

As it has been said before, Paxos has experience in tokenizing securities, commodities and precious metals, and they didn’t stop on PAX. In collaboration with Binance, they developed the BUSD token, operating on the same principles as PAX (1 BUSD = $1, backed by Paxos Trust reserves and redeemable from them) but also supported on the BEP-2 network. In the same vein, Paxos has developed PAX Gold (PAXG) pegged against physical gold in their custody.

Conclusion

The key takeaway is that PAX is meant to be used as a digital dollar. While it might deter some, for there is no community governance and the token is obviously centralized, in return, PAX delivers on a promise that it can and will be considered a valid digital alternative to USD and a regulated one to other USD-pegged stablecoins.

And last but not least, don’t forget that you can exchange your assets for PAX at ChangeHero any time of the day, without signing up and at the best rate.

Also, check out ChangeHero’s take on stablecoins here.

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Author: changehero
March 19, 2020

The last two weeks were a nightmare for the crypto community. Bitcoin took a nose-dive and Alts also followed the same vein. Many crypto influencers and enthusiasts have taken to Twitter to share their views on this blood bath. While some of them panned the crypto with harsh criticism, many pledged their support to the […]

Twitterati on Bitcoin

The last two weeks were a nightmare for the crypto community. Bitcoin took a nose-dive and Alts also followed the same vein. Many crypto influencers and enthusiasts have taken to Twitter to share their views on this blood bath. While some of them panned the crypto with harsh criticism, many pledged their support to the Bitcoin. We decided to gather some of the most popular responses from the Twitterati.

The Backdrop

The second week of March has stunned not only the stockbrokers in NYSE but also the Bitcoin Maximalists. Bitcoin crashed falling to the lows of $3,596 according to Forbes. A plethora of factors have contributed to this fall. On one hand, there’s the pandemic of the Coronavirus and on the other the global economic slump.

Amidst the chaos, we found a lot of people having some heated arguments on whether Bitcoin is a safe-haven or not. Well, that’s a completely different topic and we’ve got you covered as well, quickly go through this article for more info on it. Here are a few of the posts on Twitter which drew the attention of the crypto community during the crisis.

Crypto Twitter

Edward Snowden interested in buying Bitcoin
Source: Edward Snowden

Whistleblower, Edward Snowden is quite popular in the crypto community for his bullish nature on crypto. He tweeted about Bitcoin in the last week when BTC dropped below four thousand dollars. It looks like Edward Snowden is gearing up to stack sats.

Brian Armstrong about Bitcoin price fall
Source: Brian Armstrong

Next comes Brian Armstrong, CEO of Coinbase, appeared to be puzzled with the Bitcoin’s performance. Historical analysis suggests that Bitcoin was not in correlation with the financial markets. Unfortunately, digital currency also took the hit during the recent financial catastrophe and its price plummeted. This has surprised not only Brian but also fellow Bitcoin enthusiasts.

Erik Voohes on Bitcoin as a store of value
Source: Twitter

Travis King about Bitcoin price action
Source: Twitter

 

Shapeshift’s CEO, Erik Voorhees, voiced his opinion in an attempt to bust the rumours that Bitcoin is Dead. He also extended his support to the Ethereum and other projects.

Ikigai Fund Manager, Travis Kling also took to crypto twitter and expressed a similar view on Bitcoin and hinted that once things settle down, Bitcoin bulls will be unleashed.

CZ Binance about Bitcoin price
Source: CZ Binance

Binance CEO, CZ, a well-known figure in the community, is always the first to respond to the happenings in crypto and blockchain. He pledged that he will not let Bitcoin touch the rock-bottom. Sounds promising and we do hope that Bitcoin will not be hitting lows.

Crypto community is widely popular for fun and wit even in times of distress. Crypto people didn’t let go of this chance and cracked jokes on the current situation.

Andreas fun tweet about the crypto market
Source: Andreas Antonopoulos

Peter McCormack on Ethereum price action
Source: Peter McCormack

Andreas Antonopoulos tried his best to look at the bright side even in the toughest of the times. Podcaster, Peter McCormack, played smart with the words. We better not explain the tweets and leave it to your imagination.

Charlie Shrem's fun tweet on Buttcoin
Source: Twitter

Crypto Rand tweets about the crypto market
Source: Twitter

While Charlie Shrem showed off his brand-new cryptocurrency, trader and investor, Crypto Rand’s tweet perfectly concludes the whole story.

A storm passing by

Toilet Paper token meme
Source: ChangeHero

Yes, crypto is going through a rough patch and so is the global economy. We believe it was just a rainy day and soon Bitcoin will be reaching new heights. At the time of writing, Bitcoin showed Bullish signs and hit the six thousand dollar mark. If you are new to crypto, it’s the best time to invest. In this quarantine, make the right choice, stack sats, not toilet paper. 😉

On ChangeHero you can exchange crypto instantly without any registrations. Also, you can simply buy crypto with a credit card. We’ve got you covered even if you are looking to cash-out, you can sell Bitcoin and other popular cryptocurrencies on ChangeHero in just a few simple clicks.

Btw, do you wanna know if Bitcoin is a safe haven? Find it out by yourself here.

Comment and share if you have enjoyed the post. For more such interesting content, subscribe to ChangeHero Blog and follow us on TwitterFacebookReddit, Telegram and be the first to get notified.


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Author: changehero
March 11, 2020

In today’s world, the regulatory framework for using and owning cryptocurrency around the world is wildly different from country to country. Some explicitly ban it, others put digital and virtual currency vendors in a chokehold by introducing indirect bans on their operations. On the other hand, there are countries which have either included cryptocurrency trading […]

Landscapes of Cryptocurrency Regulation Across Place and Time

In today’s world, the regulatory framework for using and owning cryptocurrency around the world is wildly different from country to country. Some explicitly ban it, others put digital and virtual currency vendors in a chokehold by introducing indirect bans on their operations. On the other hand, there are countries which have either included cryptocurrency trading in their existing framework, like Japan or Sweden, or devised new laws to help the industry grow in a regulated environment, like Belarus. Most states agree on one thing, though: denying responsibility for this growing sector of the economy is no longer an option, and they have to figure out how to handle it.

Pioneer Legislators

Spearheading the legal status of cryptocurrencies is the nation of Malta. Though not a legal tender, cryptocurrencies there are considered to be a means of value transfer and storage. More curiously, it is one of the few countries where VAT is not applicable to transactions with crypto. Existing laws of Malta regulate the widest area of the crypto space at the moment, covering cryptocurrency exchanges, wallet providers, brokers, ICOs, asset managers and even advisers.

One of the most progressive frameworks in the world today is present in Canada.

Cryptocurrencies are considered a legitimate means of payment where accepted. However, they are not considered to be legal tender, which means one cannot use them for debt cancellation or tax payment. Interestingly enough, Canadian law distinguishes between mining for commercial and personal purposes, with only the former being subject to taxation.

Canada was one of the first countries to introduce cryptocurrencies as a subject to national law in the amendments to the Proceeds of Crime (Money Laundering) and Terrorist Financing Act as the Bill C-31. For a business to be compliant in Canada, regardless wherever it is based, it has to be registered with Fintrac (Financial Transactions and Reports Analysis Centre of Canada), as well as report to them their activities, suspicious transactions or involvement of “politically exposed” customers.

Another country where starting a fully compliant cryptocurrency business is possible is Estonia in Eastern Europe. It has comprehensive legislation on AML/ATF, which includes businesses operating with cryptocurrencies, such as exchanges and wallets. As a result, there are licences for such businesses which act as authorisation from the authorities. Cryptocurrency regulations in Estonia are open and innovative, especially in comparison to other EU member-states.

As long as a business follows the country’s rules, Estonian regulators are quick at helping them set up a business in the country.

Good Old Measures for New Troubles

Not surprisingly, the situation is not as great in some other places in the world. Even owning bitcoin can place you on the enforcement’s radar in Bangladesh, leave alone accepting or trading it. There are whole regions which are not welcoming toward cryptocurrencies. They are outright banned in some MENA countries: Algeria, Bahrain, Iran, Iraq and UAE. The rest of the countries of the region have issued warnings against trading in cryptocurrencies, with Israel, where operations in cryptocurrency are legitimate as long as an individual holds a valid license, being an only exception.

Changing Legal Status

Right now, India and South Korea are all over the news thanks to the governments of both countries making the decisions which are welcomed as embracing the industry. The South Korean National Assembly has passed the most comprehensive to date legislation to create a legal framework for the industry, and the Supreme Court of India has overruled the Reserve Bank of India’s ban on provision of banking services to cryptocurrency businesses.

Since 2017, South Korea has seen a widespread in cryptocurrency adoption: a third of its salaried workers have been investing in crypto, and the government has been gradually warming up to technologies like blockchain and digital currencies. The logical decision in these changing circumstances would be not to ban cryptocurrencies but to introduce a regulatory framework that would allow regulating cryptocurrency exchanges and businesses. Though the framework is yet to be introduced, this is sure to set a precedent for the other states to follow.

It’s hardly a surprise to anyone that fintech and blockchain have been developing rapidly in India, and cryptocurrencies are being widely used there. However, until recently, cryptocurrencies, unlike cashless and digital economy, were considered outliers as far as the legislation goes. From 2018 onward, there has not been an explicit ban on cryptocurrencies, but the RBI-imposed ban on service provisions significantly hindered operations of cryptocurrency businesses. In the light of further concerns, the Supreme Court requested the Government to define the legal status of cryptocurrencies in February 2019, and it should be noted that this request is still pending, which might rain on the parade of everyone celebrating the lift of RBI ban.

A likely scenario is that India will follow in China’s footsteps, embracing blockchain technology but scorning the cryptocurrencies which come as “a byproduct” of this technology. A crypto boom in 2017 has taught everyone a sore lesson how ICOs and investing can be used by fraudsters, so China preferred to ban ICOs altogether and has been gradually revoking the privileges of miners and traders one by one since then. More can be read in an article we wrote earlier.

Another topic that has only recently and temporarily left the spotlight is TON and Libra cases. So how is cryptocurrency regulated in the States, anyway? Well, the short answer is just like in the rest of the world. A longer answer would include a clarification that the stance varies from state to state. Generally, owning cryptocurrencies implies no repercussions and exchanges are legal. The latter is in an uncertain jurisdiction, overlooked by either the Securities and Exchange Commission, SEC for short, which insists that cryptocurrencies are securities, or the Commodities Futures Trading Commission (CFTC), for whom they are commodities. The Justice Department is collaborating with both to develop a legal framework for cryptocurrency trading and use.

Claiming the Space

The legal landscape for the crypto industry has changed significantly in comparison to how it was just a couple years ago. Back then, issuing a press release warning about the risks of trading on cryptocurrency exchanges due to volatility and decentralized nature of the currencies seemed to be enough. However, we have seen a lot more certain action from the governments across the world lately. Who wins from this? Ideally, compliant businesses that stick to AML/ATF regulations and intend to benefit from the technology behind cryptocurrencies. Who might suffer losses? Unfortunately, stricter regulations might mean stricter taxation, less privacy and more hurdles to set up a business. It is not enough to just include cryptocurrency into a legal landscape, the legislation has to be devised with all the participants in mind and upheld by every participating side.

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Author: changehero
March 4, 2020

We’ve come a long way in crypto and blockchain. What started as a solution for the peer-to-peer payment system has evolved into disruptive technology and surprised many. The core idea of cryptocurrencies is to provide financial freedom to everyone. In this space, there are no differences and anyone who can click the right buttons on […]

Women in Crypto

We’ve come a long way in crypto and blockchain. What started as a solution for the peer-to-peer payment system has evolved into disruptive technology and surprised many. The core idea of cryptocurrencies is to provide financial freedom to everyone. In this space, there are no differences and anyone who can click the right buttons on the internet will be able to transact value and carry out various functions.

Blockchain space resembles a clan culture in which there is a great collaboration among the people. On the contrary, a vast number of thought leaders and influencers in this industry are men. This resulted in a great gender imbalance. To be more precise, there are only 12.28% of women in the Bitcoin community. Despite the smaller number, there are a ton of women who have contributed to the development of the industry. Unfortunately, they are lesser-spoken of and not appreciated. This is a short attempt by us to shed light and pay respect to the wonderful women who made an impact on the crypto.

Cracking the Code with Kathleen Breitman

Kathleen Breitman is the co-founder and CEO of the Tezos blockchain. She started in the blockchain as a Senior Strategy Associate at R3, a consortium that explores the use of blockchain for banks around the world. But, her real crypto endeavours began when she gave up her day job to join the forces with her husband to launch Tezos smart contracts platform. In 2014, the duo released the official whitepaper of the project with potential fixes to what Bitcoin wasn’t able to. Despite the initial setbacks, the project had one of the best ICOs in the crypto sphere and raised a $232 Million in 2017.

The chain was coded from scratch and is widely known for its PoS staking mechanism, self-governance and on-chain governance. With Kathleen’s leadership, Tezos is doing impressively well and is standing among the top 10 most valuable cryptocurrencies at the time of writing.

A safe haven for the little bitcoin — Alena Vranova

Cryptocurrencies have always faced an issue of hacks and thefts. Putting an end to all that, Satoshi Labs launched the first hardware wallet for safe storage of cryptocurrencies. Alena Vranova is the co-founder of Satoshi Labs and Trezor. She also served as the CEO of Trezor for 4years and took the company to new heights. Later, she joined Casa, a personal key management system for Bitcoin. Being an advent supporter of Bitcoin, she is vocal and expresses her opinions through social media. Alena also authored The Little Bitcoin Book in which she outlines the story of money and how bitcoin can change the world. With her enormous experience in Business and thought leadership, Alena is indeed a role model for many in the crypto world.

Lightning Fast Transactions — Elizabeth Stark

If you are reading this, you must’ve been already aware that Bitcoin is the world’s first digital currency and is meant to serve as a peer-to-peer payment system. As the currency grew in popularity, the network was clogged with a massive number of transactions and confirmation times peaked. To counter this problem, Elizabeth Stark co-founded Lightning Labs, the firm behind the Lightning Network. She along with her team delivered the second layer protocol layer for the Bitcoin Network enabling smart contracts and faster transactions. She also has the experience of teaching in Stanford and Yale on peer-to-peer payment systems and an advisor to many blockchain startups.

Boarding the Bankers On-Chain — Amber Baldet

Cryptocurrency came into existence to bypass the traditional banking systems and provide financial freedom to the people. This innovation has brought the blockchain technology into the limelight and teased its potential. Though the financial firms are hostile towards the crypto, many are testing the waters in blockchain tech to cater their customers better. Amber Baldet played a key role in bridging the blockchain tech with conventional banks. She served as the blockchain program lead in JPMorgan Chase and also led the team which built, Quorum, an open-source blockchain platform based on Ethereum built specifically for businesses. She left the bank and co-founded, Clovyr, a startup which enables enterprises of different sizes to build, deploy and manage applications on the blockchain. Amber Baldet was featured in Fortune’s 40 Under 40 and CoinDesk’s Most Influential in Blockchain.

Podcasting with Laura Shin

Sometimes finding a reliable source of news get a bit tricky in crypto. Laura Shin comes to your rescue, she has always been considered as the most trusted voices in the blockchain. She is a Forbes Senior Editor and focuses primarily on cryptocurrency and blockchain. Her podcasts Unchained and Unconfirmed are not to be missed by anyone. She hosts and discusses diverse topics alongside influencers, techies and businessmen and women in the crypto.

A self-made star — Preethi Kasireddy

Preethi taught herself how to code and made herself a Blockchain Engineer. She worked for big firms like Coinbase, Goldman Sachs and Andreessen Horowitz. She is an avid writer and shares knowledge through blog and twitter. Her writings range from blockchain, tech & coding, to travel and health. Her simple twitter bio reveals a lot about her and the feed is refreshing. She is indeed a self-made star!

Anybody can — Tiffany Hayden

In crypto, you don’t have to be an investor or crack the code to create an impact on the community. And Tiffany Hayden proves it. She is a mother, independent adviser and a fintech enthusiast. Tiffany aims to help people around by sharing knowledge about Blockchain in simple words. She has a huge fan base on Twitter and also organises workshops and meetups to fuel the adoption of this new tech.

Time to Talk

There are many such influential women in crypto who has contributed to the development of the industry. Each of them is is a role model not only for every young woman but for everybody out there to strive for and achieve new heights. Yet, there is a great gender imbalance and we don’t often see working culture, equal pay and other sensitive topics being discussed in the crypto community. This is the time to talk about this and give the credit to women where it was meant to be. We do believe that soon women will be given equal importance and crypto will be a better place.

Did we miss anyone? Comment down below who we should mention.

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