Author: Grace Shane

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The Swiss crypto exchange Smart Valor lists the cryptocurrency PAXG and thus gives investors alternative access to gold.

The global health crisis and shaky financial movements have led people sorting to personal loans for bad credit to meet basic needs. And while global stock markets are still in the corona crisis, crypto companies are preparing to offer investors alternative ways to invest in gold.

PAX Gold – Paxos brings Gold to the Blockchain

One of these projects is the cryptocurrency PAX Gold ( PAXG ) attached to physical gold because from now PAXG can also be traded in the currency pair Swiss Franc (CHF) and British pound (GBP).

The new currency pairs were made available since March 19 after the digital trading platform Smart Valor the cryptocurrency in their quotation has taken.

The New York-based crypto companies Paxos had his tethered to gold cryptocurrency 2019 on the market brought. On Smart Valor, it can be traded in euros (EUR) and US dollars (USD) in addition to CHF and GBP. There are also currency pairs with the market-leading cryptocurrency Bitcoin ( BTC ) and the stable dollar tether ( USDT ) linked to the US dollar.

While Smart Valor speaks of being the first European crypto exchange to list the PAXG, a spokesman for Paxos confirmed to Cointelegraph that this will allow PAX gold to be traded in CHF and GBP for the first time. The cryptocurrency is also the first gold-linked asset on Smart Valor.

According to Paxos, the PAXG is also available on the Kraken, HitBTC, BitThumb and itBit crypto exchanges.

Tokenized gold as a lifeline?

Olga Feldmeier, Managing Director of Smart Valor, says the coronavirus crisis is a driving reason for the listing of PAX Gold. As the American central bank announced on March 15 that it would lower the key interest rate to 0%, savings assets are increasingly at risk of depreciation.

“With the outbreak of Corona, we could find ourselves in a new economic crisis that is taking the extracts from the Great Depression of 1930. In these times, investors need a real alternative to protect their savings. For this reason, we decided to offer tokenized gold on the SMART VALOR trading platform. ” — Olga Feldmeier |Smart Valor

Paxos emphasizes that gold was largely able to maintain its value despite the crisis since the precious metal is a so-called safe haven. The crypto company also indicates that it has approval from the New York financial services regulator.

As Cointelegraph reported, Paxos launched PAX Gold in September 2019 as the “first cryptocurrency that can be exchanged for physical gold”.

Another argument for the PAXG is the fact that the Ethereum-based crypto token is tradable around the clock. Because some big exchanges like the New York Stock Exchange closed its doors due to the corona threat, this led the crypto markets are increasingly popular because they can be reached at any time.

“When the stock exchanges are closed and a financial crisis threatens, the crypto markets suddenly become an unexpected source of liquidity for many. The cryptocurrency and tokenized asset markets are open 24 hours a day, seven days a week, and never take a break, even if all other markets do. ”   — Gunnar Jaerv|First Digital Trust,

After a very troubling week in all financial markets, bears also seem to have won on the Bitcoin (BTC) market. A sharp drop towards $ 3,800 crashes the price more than 50% in one day. And that movement makes one of the biggest and fastest crashes ever on the Bitcoin price. So before considering other investments in the Stocktrades list of dividend stocks, you may want to look at your investments on Bitcoins first and consider your options.

Strong support levels are easily broken and technical analyzes are therefore more difficult. The worldwide fear of the Coronavirus has a grip on all markets. Time to take a new look at the charts.

BITCOIN WORST CASE & BEST CASE SCENARIOS

Bitcoin analysis: filtering noise

The end of a very restless week is approaching, with the price currently hanging around $ 5,000. Again exactly on strong weekly support, to which we may attach little value.

Where we could normally expect a turnaround, we can now say carefully that it is quite possible that we will continue to go down.

One way to filter out as much noise as possible is to zoom out a lot further than usual. Hence I look at the higher timeframes. In order to get a longer-term picture, than all the noise that is currently seen on lower timeframes. Then it is somewhat possible to make a better analysis.

Bitcoin (BTC) weekly chart

To begin, we look at the weekly chart to see how the price is trying to hold out above the $ 5,000 zone. An important point for the coming days to keep.

Because this has often served as support and resistance in the past. However, the level may be a final straw from the bulls, who anxiously thumbs at good news regarding the Coronavirus and all other markets.

A piece of bullish news can ensure that the support is strong enough and that a reversal will actually take place. Which can last for a short time, but with some new power from bulls can push the course considerably.

A gloomy week ahead despite reversal?

However, it must be taken into account that it will also look gloomy in the coming week. With new drastic measures, which ensure that not only regular markets continue to crash, but Bitcoin will also respond to this. A new test to $ 3,600 is therefore not out of the question.

Support at $ 4,800, $ 4,200 and $ 3,600

On the daily chart of Bitcoin, we see that with a possible further decline, support is still at USD 4800 and USD 4200 before USD 3600 will become a reality.

Although a major flash crash to $ 2500 would not be out of the question. Should the price make the previous movements and again make a crash of 50%.

In a bullish scenario, an ascent to $ 5800 will already be very important and breaking it can give the market some peace of mind again. In addition, rapid recovery can be taken into account.

From the past, we see that solid panic on the market can also recover very quickly and bring prices to old levels within a few days. For now, it is especially very careful and then hope for a piece of good news before trading on your next cryptocurrency.

Crypto currency, aka cryptocurrency, has become one of the non-cash transactions that is currently developing in the world.

Many transactions, including buying and selling in cyberspace, can use crypto assets, such as Bitcoin. One can even take out loans against their crypto assets. Although this may not work on other transactions such as car accident loans (presettlement funding).

Despite the growing popularity and acceptance of cryptocurrency, there are still quite a lot of countries that are gray about this to the point of banning the use of crypto.

Only One Real Currency?

US President Donald Trump has criticized the circulation of cryptocurrencies. In a series of tweets, Trump said he was not a fan of bitcoin et al. In fact, he called them not money.

“I am not a fan of Bitcoin and other cryptocurrencies, where they are not money, and the value is very volatile because it is based on the intangible,” Trump wrote.

Trump said cryptocurrency assets that are not regulated properly will only produce bad things, such as drug trafficking and other illegal activities. Not only that, but Trump also touched on the new cryptocurrency launched by Facebook, Libra. According to him, Facebook must comply with US banking regulations such as other national or international banks. He said Facebook must have official Charter Bank licensing documents if it issued Libra.

Trump rails against Facebook’s planned cryptocurrency

Chairman of the American central bank, The Fed, Jerome Powell; Minister of Finance, Bruno Le Maire; and Bank of England Governor Mark Carney is a series of officials who do not like the presence of Libra.

“We only have one real currency in the US, and it is stronger than ever, strong and reliable. So far, the currency is the most dominant in the whole world and will remain that way. The currency is the American dollar,” chirped Trump.

There is truth about the fluctuating price of Bitcoin, Trump has a point. If you remember, the price of bitcoin has continued to decline in 2018. At the end of November 2018, the bitcoin exchange rate touched its lowest point at 4,833.09 US dollars. The price of bitcoin went up in 2019. In fact, at the launch of Libra at the end of June, a single bitcoin bit broke through more than 10,000 US dollars.

The Blockchain System In Terms of Reliability

All data is always alive and disseminated to all participants in the blockchain system, thus increasing data reliability because it does not depend on just one provider that requires secondary investment costs such as a DRC (Disaster Recovery Center) system to support operating reliability. If a node belonging to a bank fails, there is nothing to worry about. He will receive the latest data when alive and reunited.

The unit of information received and sent can be considered as a new ‘currency’ whose value is agreed upon by each bank, and this is a new treasury business opportunity for each participating bank and relinquishes bank dependency from one of the most dominant currencies at once able to hedge the original currency used.

Investing Doesn’t Have To Be Grand

September 16, 2019 | Uncategorized | No Comments

They say taking the leap on things that scare you the most is usually the best thing to do. Being outside our comfort zone is said to bring so many opportunities on things you did not even know is inclined to you or is specifically designed for you and your standing in life. One of the many things that people worry about is investing in things; whether they are scared of it going downhill or not being the right investment for them later on. Surely a lot of people may encourage or discourage you on right things to choose but it is always going for the things you have taken time in learning and things that you know is good for you.

Two Things To Encourage You in Investing Now

One of the many reasons why people stop midway in going for the investment they have in mind is that they are told that their budget is not enough and is never enough. And yes, that is true your finances will never be considered enough in the market but, it will always work out. Starting with little money can now be a thing considering the many ways that technology has improved the industry even FORA Financial offers bad credit business loans, that can make your little capital into something big later on.

The other reason why people start thinking that their finances are too little for investments is that most are caught up in the idea that the only chance of actual investment is putting your money in stocks. The truth out here is that stocks are just one of the many ways and things you can invest to. Taking time to research on different types of early investments will do you a lot of good, especially in knowing that a house is a much better investment especially in your early years.

You must have certainly heard about digital currencies or what is known these days as cryptocurrencies. Bitcoins, Peercoins, and others are becoming more and more popular in the marketplace. Statista says that there are more than 1400 Bitcoin ATM all over the world. Cryptocurrency is also becoming a trend in many online deals for various industries.

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As we are entering another decade of this digital era, the financial industry will continue to revolutionize and make a huge change in the way we deal with our transactions and savings. We are almost in the era of cashless transactions as we embrace electronic and digital currencies.

Let’s take a look at the professionals’ point of view on the impact of digital currencies in the financial landscape in the years to come.

1. Inexpensive International Money Transfers

Digital currencies are a huge help for international money transfers. Many people can take advantage of bitcoins to receive or send money internationally. This bypasses expensive foreign exchange services of banks and other payment processors.

2. Better Security To Protect Digital Currencies

At present, it’s unfortunate that a few of us lost money in online transactions. Regardless of how small or big the amount of lost, financial technology will move to develop a stronger, more secure system to protect digital money and digital transactions.

3. Alternate Currency Reserve (In Volatile Economies)

Digital currency is relatively new thus it is less stable when compared to currencies such as the EUR and USD. However in several nations susceptible to inflation like Venezuela, their digital currency, bitcoin is in more ways stable compared to their own national currency. As a result, it’s no surprise that the use of Bitcoin in Venezuela has expanded almost seven times at the start of the year.

4. Efficiency – Faster, Easier, And More Secure Payments

Digital currencies make payments faster, simpler and even more secure. Because of efficiency when using digital currencies, this could impact how banking institutions work. Banks should commence using the concept of digital currency.

5. Market Transparency

Digital currencies lead to changing the conventional way of doing business. People who use digital currencies appreciate market transparency. The availability of public ledger creates transparency for all users. For this reason, there is a big chance that traditional transactions will go down while digital currencies will continue to rise and may take over the financial system.

6. Cryptocurrency Empowers The People

Cryptocurrencies will be less complicated due to lesser intermediation. With this new structure, the cryptocurrency code will set the rules. Bank personnel that took advantage of the system their own personal profit will eventually suffer a loss from their misdeeds. This revised financial structure eliminates the banking institutions as the middle person and gives more power and flexibility to the people.

7. Possibilities of One World Currency

We are moving towards global conglomerate that digital currency could become a currency for the entire world having the same value regardless of the country and removes expensive currency exchange rate as we know today.

Digital currencies as we know today serves a lot of benefit to many users. Although it is not yet widely accepted by the general public, the vision that most finance professionals are looking at could be possible. In fact, we have started way back then when financial technology had been introduced starting with credit cards and ATM machines.

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