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Litecoin Mining: Know About How to Guide

How to mine Litecoin

Introduction: How to mine Litecoin

Litecoin (LTC) is one of the earliest digital currencies designed by former Google engineer Charlie Lee in October 2011. Litecoin is essentially a bitcoin fork, i.e., the BTC version was devised to overcome bitcoin’s complexities. Charlie envisioned seizing the crypto market that remained untapped by bitcoin by offering lower fees, lower turnaround time (TAT), and by limiting the existence of mining pools on its ecosystem. As a result, the Litecoin ecosystem processes the transactions four times faster than the bitcoin network, charges lower transaction fees, and can mine 84 million LTC, which is four times more than bitcoin’s capacity. Litecoin price prediction indicates bullish growth for LTC, which is currently priced at 200.51 USD to fluctuate between $311 to $319 by the end of the second quarter this year and further jump to $513 by this year-end. Crypto analysts suggest that LTC will touch 1200 USD in 2025.

How Does Litecoin Mining Work?

Considering the bullish market trend of LTC, many miners are looking forward to capitalizing on the opportunity LTC mining offers. LTC is based on blockchain technology that miners support. With computing devices such as an application-specific integrated circuit (ASIC), these miners solve complex computational problems and get LTC as an incentive. Incase of LTC mining, miners can choose from three different mining processes viz. solo mining, pool mining, and cloud mining.

Solo Mining

  1. Firstly, a crypto wallet is downloaded and installed to store the LTC received as an incentive after the mining process.
  2. The hardware devices required for mining are allocated and assembled accordingly. Depending on the budget, a rig of Graphics Processing Units (GPUs) or ASIC would be determined. After that, the cost of power and devices is estimated before assembling.
  3. After the hardware assembly, the necessary software compatible with the hardware setup is selected. The GPU hardware will be compatible with most of the accessible versions of mining software available online. Besides, the ASIC set has pre-installed mining software and hence will be highly compatible.
  4. The selected software will have a set of instructions that will guide through the process of mining. After mining, litecoin is stored in the crypto wallet. Users must keep track of the mining process at regular intervals to access the revenue generated.

Pool Mining

  1. The mining pool is a group of miners sharing infrastructure and resources to mine cryptocurrencies. Both solo and pool mining may share a few similarities, the significant difference being that in solo mining, the users will mine the block rewards alone. In pool mining, they will mine the block rewards together with other people.
  2. The first two steps (1 and 2) are repeated in pool mining as well.
  3. It is advised to be cautious of the free versions of software available to mine the cryptos meant for the GPUs. ASIC devices will have pre-installed versions, which minimize the compatibility issues in the mining process.
  4. The most crucial step is selecting the right pool that will offer appropriate incentives, lower fees, and transparency. Comparing pools through these parameters will lead to efficient and profitable pools. Before starting the full-fledged mining process, the users must try a few mining pools, which will help in the shortlisting process.
  5. The LTC mined through this process is stored in the crypto wallet. The users are advised to monitor the mining process regularly to ensure profitable mining.

Cloud Mining

Cloud mining uses the cloud provider’s services, with infrastructure designed explicitly to mine cryptos.

  1. The user should choose the most popular and trusted Cloud provider to avoid any security breaches. Secondly, the benefits these cloud providers offer must be weighed for LTC mining before the selection process.
  2. The services offered by these providers are contractual. So the packages are to be selected after scrutinizing the following parameters:
  • Fees
  • Duration of these services
  • The efficiency of the devices applied
  • Range of mining rewards
  • How flexible and personalized are the packages
  1. The mining pool should be shortlisted based on the cost and rewards the mining pool offers.
  2. The provider’s instructions must be followed before mining the LTCs. The LTCs are transferred to the crypto wallet, and the mining process is monitored to track revenue generated against the cost.
Conclusion

With Litecoin price prediction aiming at the Litecoin price, reaching the 1200 USD mark by 2025, currently $200, mining would prove to be a profitable option to generate incredible revenues. However, the mining process involves many risks. Hence, it is advisable to be cautious during the setup process, and it is crucial to measure it against the cost to ensure it is profitable. Extensive research while selecting a mining pool and cloud service provider will protect from malicious entities and security breaches.

Understanding Crypto Trading: A Guide for Newbies

Understanding Crypto Trading

With 24 hours trading volumes that average around $50 billion or even more and cross over $100 billion, the cryptocurrency market has grown significantly over the last few years. The participants of the crypto markets entail a mix of institutional and retail traders. Digital assets are considered as an alternative class of investment now. Crypto trading is an act of gambling on crypto price moves through CFD trading accounts or buying/ selling an underlying coin through an exchange.

How Does Crypto Trading Work?

You can trade cryptos using a CFD account. CFDs are derivative products that let you gamble on whether your selected crypto will fall or rise in value. The prices are available in traditional currencies like the US dollar. You can never take ownership of a cryptocurrency itself. A CFD is a leveraged product. It means that you can easily open positions for a fraction of the whole worth of the trade. Though leveraged products can amplify your profit, they can also amplify your losses when the market goes against you.

What Are the Types of Crypto Trading?

Crypto Trading is of two types. Let’s discuss each of them individually:

Fiat to Crypto Trading: In this type of trading, the base currency is fiat (INR, USD, SGD, GBP), and you can trade it against different cryptocurrencies like Ethereum, Bitcoin, and more. The aim is to increase your fiat money and regularly book your profits.

Crypto to Crypto Trading: By far, this is the most profitable type of crypto trading. The base here is the crypto, and it can be traded against other cryptos to increase the base. It is also called altcoin trading. During a bullish market, crypto to crypto trading is the best way to boost your Bitcoin holdings.

What Are the Benefits of Crypto Trading?

When you trade cryptos, you speculate on whether a selected market will fall or rise in value. You do not even have to own the digital assets to trade them. This can be done by using certain derivative products like CFDs. The main benefits of crypto trading include:

  • Crypto Volatility: Though the crypto market is pretty new, it has already experienced noteworthy volatility because of the large amount of short-time speculative interest. The crypto volatility is what makes the cryptocurrency market very exciting. Fast intraday price moves can offer investors many opportunities to go short and long but come with risk.
  • Enhanced Liquidity: Liquidity measures how easily and promptly crypto can be turned into cash without even impacting the price of the market. Liquidity plays a vital role as it gets better pricing, increased precision, and quicker transactions—Trade cryptos with a broker who gets prices from many venues to execute faster trades at a lower price.
  • Market Hours: The crypto market is open to trade 24/7 since no centralized governance exists. Crypto transactions occur between individuals directly on various crypto exchanges around the world.
  • Go Short or Long: If you purchase crypto, you are buying the asset upfront, believing it will increase its value. However, if you trade on a crypto’s price, you can benefit from the markets that are rising or falling in price.

Is Crypto Trading Profitable? 

Traders have been using altcoins and bitcoins for a long time now. Big thanks to its high volatility, platforms like Stormgain offer margin trading to the traders, so that they can make profits faster than other more stable markets. But don’t anticipate earning millions within a month or become rich quickly. Investors should follow strict trading strategies with proper risk management limitations. Also, ensure that you do not risk over 1 percent of the capital you have. Though it will limit your profit, it will still collect overtime for the persistent traders.

Is Crypto Trading Legit? 

Yes, cryptocurrency trading is completely legal. Crypto is legal in the US; however, China has banned its use. Ultimately, whether or not they are legal depends on every individual country.

Conclusion

Take this as a guide to trading cryptocurrencies, and you will avoid the most hurdles that many investors fall. Also, ensure that you stay aware of the differences in taxes and rules associated with crypto trading in different regions. You would not like to lose your profits to unforeseen regulations.

Views of Chamath Palihapitiya on Bitcoin

Views of Chamath Palihapitiya on Bitcoin

A lot of factors drive the world of cryptocurrency and blockchain technology, and one of the most sophisticated factors that we are going to face over the period of time is that there are a lot of rumors that go around when it comes to the space. It is believed that almost 42% of the people who invested in Bitcoin panic in false rumors and ended up withdrawing all the assets that they have on the network. This leads to an immense value drop of Bitcoin, and this means that it will lose more value when more people look forward to withdrawing their assets from the network. 

It is a known fact that the value of Bitcoin is dependent on the various attributes of the users in the network, it is always essential to have a resource that can clear the facts behind all the operations of Bitcoin and Chamath Palihapitiya is one of the most influential faces that can be seen in the network. A lot of people know for a fact that it is always important to know the facts before you proceed with the chances when it comes to digital assets like Bitcoin and the Blockchain technology.

Chamath Palihapitiya on Bitcoin:

Chamath Palihapitiya has always been able to make one thing clear, the man has a perfect understanding of the Bitcoin network and is completely sure of all the proceedings that one needs to take care of before trading with Bitcoin and any other cryptocurrencies. The biggest highlight is that he has been influential on the way the whole Bitcoin community perceives the trading aspects with the coin, and he has always made it a point to clear the skies when it comes to any discrepancies with regard to bitcoin and its network.

Chamath Palihapitiya on Bitcoin’s price prediction:

He believes that Bitcoin is a digital asset that will turn valuable for people who are willing to invest on a longer scale. He means to say that it is highly likely for people not to get profited in the small-term investment, especially with escalating price ranges of coins like Bitcoin.

Chamath Palihapitiya says that every member on the network must own a minimum of 1% of their assets with Bitcoin as it is going to increase further on. 

He says that within a short span of time, there will be a significant increase in the value of Bitcoin after the world pandemic is resorted to. He also recently made a statement regarding Warren Buffet’s statement that the statement from Mr. Buffet was not true and had an outdated point of view regarding the pricings. From what we hear, it is evident that the pricings of Bitcoin are going to turn around profitable. 

Trading in Bitcoin can definitely help you gain huge profits if done properly. But before one starts trading, it is always necessary to select a trading platform that can serve you in the best possible way, ensuring you get the best returns from your investments. One such trading platform is Bitcoin Pro.

What is Bitcoin Pro?

Well, if you are looking forward to investing in Bitcoin and trading with the same, it is very important to know when and where to invest, and that is where trading platforms like Bitcoin Pro come into play. It is one of the most sophisticated trading platforms where you can invest and trade with cryptocurrencies like Bitcoin.

There are a lot of factors that are into play with regard to choosing platforms like Bitcoin Pro and one of the top three compelling reasons to choose Bitcoin Pro include;

  1. The network of Bitcoin Pro is highly sophisticated:

There are a lot of methods that are required for a trading platform, and one of the most important key points is that they must be equipped with the latest technologies and algorithms, and that is what exactly you will find with Bitcoin Pro. Bitcoin Pro has one of the most sophisticated algorithms that will make sure that the traders are benefitted from their investments in a very short span of time. 

  1. Bitcoin Pro is safe:

Safety is a major point of concern for many people, and this means that you must have the latest security protocols within to get a hold of your assets in a safe and controlled location. 

  1. Bitcoin Pro is fast:

 In a market that fluctuates heavily, it is important to know that we are providing the best and fastest software possible. This will make sure that all the tradings you do are done on the point, and there is no delay in the trading aspects that might inflict possible losses. 

To know furthermore about this innovative platform – Bitcoin Pro, You must check out the Bitcoin Pro Reviews.

Everything You Need to Know About Forex Scams

Forex Broker Scams

Foreign trading or forex trading is the trading of different foreign currencies listed in a pair known as forex pairs. The parties involved in trading could be individual investors or multinational corporations. Trading of currencies takes place in the foreign exchange market and the parties make a profit through fluctuations in the exchange rates of currency. This constant price movement of currencies is the reason why forex traders find forex trading lucrative to gain profits in the short-term.

Though the foreign exchange market is the biggest financial market in the world, it is also highly unregulated. That means it has slowly become a haven for many forex brokers that lure forex traders with fraudulent investment schemes.

Is Your Forex Broker a Scam?

Forex scammers take advantage of the forex traders’ lack of knowledge about forex trading and try to defraud them with unbelievable investment opportunities. They keep evolving with the forex market and coming up with schemes that are nothing but a scam. Therefore, before putting your feet into forex trading, it is essential for you to fully understand different types of forex scams.

1. Robot Scams

This is the most common form of a forex scam. Forex robots rely on the past performances of currencies to place the trade in the forex trader’s absence. Forex scammers use this fact to persuade new forex traders that they can make maximum profits using their bot-based platforms. Ideally, forex traders should avoid falling victim to this scam as most of such platforms have never been tested.

2. Signal-Seller Scams

This is another popular scam where forex fraudsters promise potential forex traders with accurate information about favorable times to trade in exchange for a hefty commission. Forex signal selling is a practice where forex brokers predict the price movement of currencies based on market trend and their trading expertise. Forex traders use these cues to make a trade. But most of the cues are inaccurate and traders end up incurring heavy losses as their forex broker fails to authenticate its information.

3. Shady Forex Trading Scams

There are so many forex brokers that approach new forex traders through impractical advertisements. Most of these brokers are unregulated, but they try to convince forex traders to make investments in forex investment funds and assure them of higher returns. Anticipating maximum profits while not trading themselves, forex traders end up losing their investments just to find they have fallen victim to another trading scam.

How to Spot a Forex Broker Scam?

It is quite common among aspiring forex traders to become successful at forex trading. Even so, they should avoid being misguided by unrealistic expectations promised by the forex broker.

More common hints that your forex broker is a scam include misleading forex trading schemes, unregulated by any financial authority, and overstatement of 100 percent guaranteed returns. Apart from them, here are a few more tips to spot a forex scammer.

  • Promises of little or no financial risks
  • Claims of guaranteed and overnight success
  • False records of success at forex trading
  • Unresponsive to trading complains (poor customer service)
  • Bad reputation for not allowing forex traders to withdraw funds
  • Unable to provide any proof of their trading claims
  • Ask you for your personal details (email, contact number, home address)

If you found your forex broker ticking any of the above, it is a sign that you are dealing with a scammer. Besides, you should consider taking some precautionary steps to avoid a forex scammer such as:

  • Finding a regulated forex broker
  • Doing internet research about the forex broker
  • Reading customer reviews and testimonials
  • Going through all the fine print of the contract
  • Starting trade with a small deposit
  • Understanding trading on margin
  • Asking for the forex broker’s trading history
  • Ensure you can trade when the market is volatile
  • Inquiring forex brokers about their policies for placing trades

Conclusion

Forex trading is a legal financial activity across the globe. It allows forex traders to make huge profits in the short-term. However, a slight oversight of forex trading fundamentals can put new forex traders at risk. It is not that the forex market is full of scammers, but you must be better prepared to spot the scam and avoid being a victim of it.

The best way to do that is knowing how forex trading works and conducting due diligence on the forex broker. Remember, you are into forex trading to make money, do not waste this opportunity because of some unscrupulous forex broker. To avoid all the scams and frauds, you should check the list of Top Forex Brokers and choose one from it. Also, you can click here to compare the top Forex brokers in UK.

Following The Success Of Covesting’s First Five-Star Trader

The Success Of Covesting's First Five-Star Trader

Weeks ago, a challenge was put out amongst the trading community: try to become the first five-star Covesting trader. At the time, the feat hadn’t yet been accomplished, but after some of the best the world has to offer began to learn of the challenge, there are now not just one, but two of these five-star traders.

Interestingly, neither have made it into the top ten by total profit, but when you dig into the success and risk metrics, and come to understand what the fully transparent five-star system truly means, the achievement becomes that much more impressive. And it also puts a spotlight on why the strategies that earn the accolades are among the safest follows on the platform.

Learn all about this one ultra-successful strategy manager’s road to glory that also brought riches to their followers.

What Is Covesting? A Quick Recap On The Copy Trading Platform On PrimeXBT

Covesting is an innovative copy trading platform that connects traders turned strategy managers with followers looking to take the worry out and time investment out of trading and let the professionals do it for them.

Followers copy the trades of strategy managers who are doing what they do best: building positions, managing risk, and trying to book profits consistently. But by becoming a strategy manager on Covesting, success fees are earned from follower equity in addition to the profits from trading, resulting in the ultimate income-generating solution.

For that reason, as well as making a name for oneself on the global leaderboards that so many traders have registered and are sharing their PnL screenshots from within the platform online.

The Copy Trading Platform On PrimeXBT

After months on PrimeXBT, Covesting has amassed a substantial user base of strategy managers and followers. Single strategy managers are now trading with as much as 100 BTC in follower equity and using it to generate over 2,000% ROI.

But as you can see in the list of top ten Covesting traders by total profit, there’s a notable lack of five-star traders. If even some of the greatest and most profitable traders can’t reach the stars both literally and figuratively, then how challenging is it?

Reaching For The Stars: How One Strategy Manager Built Steady Success On Covesting

It is achievable, as two traders have now done so. However, for months the full five stars were left unfilled until a challenge went out calling out all top traders and pushing them to give the then never-before-done feat a try.

Traders lined up to give it a chance, but strategy manager Joao Strategy was the first to get the job done.

Reaching For The Stars

To become a five-star trader, certain conditions must be met and maintained. To start, the easiest achievable star requires at least 0.5 BTC in equity. The equity can be deposited or built up from a low starting deposit and proves the strategy manager is serious about trading.

Next, a trader must be active more than 30 out of 60 trading days in a rolling period. If the trader falls under 30 at any point within the current 60-day timeframe, the star will be removed. The reason for this star is to ensure any traders are active enough to warrant the follow.

The third star starts to foray into safety and strict risk management. This star is awarded for keeping margin allocation at 60% or above. Traders that consistently fall below these levels are risking more capital than they should be. Any trader that has this star is a safer bet than others.

Notice how Joao Strategy’s margin allocation barely ever fell below 60%. Only one spike down broke the streak of safety, but this also shows that even the safest and most consistently successful traders still are taken by surprise by unexpected moves.

Joao Strategy

The fourth star requires traders to maintain a win:loss ratio of 70:30 within the last 30 trading days, which is an extremely difficult number to achieve, as almost any trader will attest to. Only the most successful of all are able to earn this star and maintain it.

Joao Strategy is one of those traders. By sticking to proper risk management, only taking trades when confident, and clearly having natural technical analysis talent, they consistently grew their capital and profitability.

Other profitability indicators and success metrics show how successful the strategy manager is, with full transparency. Followers can use this intel to choose the best trader to suit their needs.

the best trader to suit

The fifth and final star is given to those with over 50 BTC in trading turnover over the last 30 trading days. This is no problem at all for Joao Strategy, who is now trading with over 40 BTC in capital.

Notice that as soon as Joao Strategy reached the five-star rating system, their follower equity went more parabolic than Bitcoin has recently.

Joao Strategy the first trader to achieve five-stars

Not only is Joao Strategy the first trader to achieve five-stars and enjoy all the fame and followers that come along with it, but they are also a great example of a community within a community brewing and the network effect and power of a peer-to-peer copy trading platform.

Joao Strategy on Covesting even hosts its own Telegram channel, with more than 300 members currently. These members make up his follower base, who follows not only the trader on Covesting but also his every chart and call.

Trader With Covesting On PrimeXBT

By always sharing details of their trades with their followers, followers can be more comfortable in their equity in the hands of others. And when combined with the transparency of the COvesting leaderboard and the success and safety of the five-star rating system, sleeping at night gets a lot easier than compared to HODLing alone.

Can You Become A Five-Star Trader With Covesting On PrimeXBT?

Covesting is available on PrimeXBT, an award-winning margin trading platform where users can long and short Bitcoin-based CFDs on index trading, gold, silver, crypto, forex, and more.

The platform’s professional yet easy to use trading tools are provided to Covesting strategy managers to increase profitability and minimize risk.

After seeing such success unfold before your very eyes, do you have what it takes to become the next five-star trader on Covesting?

THINK OF AD WORLD: THINK OF GLADIO.COM

THINK OF GLADIO.COM

From how to look, what to wear, what to eat, what to drive, almost everything in our lives is taken care of. That is the power of advertising. A good advertisement offers us a look into the ideal life. So advertising is the mainstay of Marketing, which is the backbone and bread earner of any enterprise, causing sustenance.

What is Affiliate Marketing?

However, not all companies independently can support and garner substantial revenue based on their marketing efforts. They need help. This is where the Affiliate Marketing comes to aid. The word “Affiliate” refers to “Associate” or “Partner.” Hence, the selling or retailing company solicits other companies’ help acting as online agents or mediators to help them click the deal. This is enabled by Affiliate Marketing tools put in use by these Affiliates. Affiliates get paid either on a “Pay per click,” “Pay per deal,” or “Pay per Lead” basis.

Affiliate Marketing & Gladio – Are They Synonyms?

One such reputed Mediator or Agent is Gladio.com. Gladio affiliates offer one-stop solutions to all marketing & advertising needs of the companies, and guess what? Not through conventional techniques of sending out brochures and flyers in print!! Rather Gladio.com has evolved to offer customized technology-based solutions to all advertisers and publishers.

What is the secret behind the roaring success of Gladio.com?

  • A well-structured professional team dedicated to facilitates modernized solutions 
  • A thorough research-oriented approach to customize offerings based on typical customer requirements
  • A synchronized and meticulous analysis to understand the nuances of the company’s business key areas
  • Astute implementation of technology tools to reach the target audience
  • A transparent and organized methodology with customers while formulating strategies
  • Assurance of a thorough bandwidth of confidentiality 
  • Real-time updates backed by AI and ML techniques

The Crypto world carves a path to success through Gladio.com 

Gladio.com has been an intense role player in the world dominated by Cryptocurrencies. With the booming potential of the digital world of currencies, the saga of the fiat currency system is losing its sheen. The Era of Digital is here and now! Hence, cryptocurrency companies are banking on Gladio.com for Affiliate Marketing. Gladio.com enables refurbishing of conventional approaches to bring the industry players to the fore, thereby increasing their visibility to prominence.

However, the payment channel varies in the case of Cryptocurrencies. While a few plans pay their affiliates in cryptocurrencies, others send the amount of their affiliates in fiat currency. It is a prerequisite that you join a cryptocurrency affiliate program signing up with the network accessing the referral links you require for promotion. If the potential client has done a crypto transaction (in terms of purchasing the cryptocurrency or patronizing the exchange), affiliates get the agreed commission.

Identification of role players in the transaction mainframe is of high significance as regards crypto deals. Under the cryptocurrency affiliate marketing program, the specific network assigns the affiliate marketer responsibility to advertise its products/services among the target customers. 

To enable this mechanism, the SWOT analysis and efficient planning are of paradigm importance. Gladio.com makes it all easy. There is a lot of emphasis on doing thorough market research, focusing on the target audience, and sound incredibly realistic and transparent. Any slippage on these accounts or ambiguous manipulations can result in chaos or jeopardy to client image. Gladio helps companies establish and retain their long-term associations with partners.

Expansion, too, is cited as equally pivotal. Else the company remains as the frog of the well or soon wipes out from the industry map entirely. Harnessing the Gladio Team would undoubtedly be a binding element here as they help build brands and new partners.

The Brownies on Platter

Nominal costs for entry and a massive possibility of growth make Affiliate Marketing highly favorable. Additionally, flexible payout methods facilitate ease for buyers and partners both. E-commerce has been the backbone of Affiliate Marketing channels as all parties have a resounding presence on the web, and hence it is naturally effortless to track them. While thorough research is already essential for a long-standing success rate and revenue potential, it is crucial to have affiliate marketers like Gladio with a robust and dedicated team of experts.

Gladio also specializes in implementing effective tools of posting pertinent links for their customers as they realize the value of these technical gears well when it comes to garnering revenue. They understand and appreciate that putting marketing campaigns alone will not help attain the goals.

Talk of the Town Affiliates

It would be worthwhile to quote illustrious role players here like, Amazon Associates, Shareasale, Wirecutter, Buzzfeed, E-Pay network, Gumroad, etc.

But as they say,

But as they say

So next time if a product or hobby or even a Cryptocurrency grabs your attention, you know on whom to rely on: Just: Gladio.com

Affiliates at your beck and call!

Coinitix Makes it Possible for Users to Buy Bitcoin Using Credit Cards

Coinitix Makes it Possible for Users to Buy Bitcoin Using Credit Cards

People interested in investing in cryptocurrencies always felt a void when using credit cards to buy Bitcoins through a secure exchange. But now, things will change with the advent of Coinitix that offers a convenient, smart, and easy way of buying Bitcoins.

Users will be able to buy Bitcoins safely and securely using their credit cards. Besides excellent security, Coinitix provides the best options, such as faster payouts and excellent exchange rates.

About Coinitix

Coinitix aims to provide users a new experience while purchasing Bitcoin using their credit cards. They have a very simplified registration, consisting of just three steps to create your account, verify the account, and start purchasing Bitcoin. Coinitix also has an easy to understand the process for onboarding and faster reconciliations, facilitated by their innovative and fully automated platform.

These characteristics make Coinitix an excellent platform to use. On the other hand, there are exchanges where users face several complexities and need to be technologically aware if they want to buy Bitcoins. These are some of the reasons Coinitix is rapidly gaining popularity among Bitcoin users.

Main Features

Let’s look at some user-friendly features that have made it the best platform to use.

  • Faster Payouts: Coinitix offers faster payouts, which means there is no waiting time for users. Many of the other exchanges have lengthy payout delivery and processing times. In comparison, payouts are much faster at Coinitix.
  • Best Commissions: They have created an excellent commission structure that is used for all the transactions. This structure is very competitive and makes sure that you will not have to bear any extra load. Moreover, due to the faster verification process, you can start using services available on the platform rather quickly.
  • Faster Verification Process: Their service aim to offer faster data processing that reflects on their verification process.
  • Live Support: They have a multilingual and dedicated support team available 24/7 to assist users via live chat and email. Irrespective of the type of issue you are facing, they have a team of experts who will provide you with a solution on an urgent basis.
  • Fully Regulated: Coinitix is fully regulated and licensed. This means that user funds are completely safe and in the right hands. They have received a virtual currency service license from the Ministry of Economic Affairs, Estonia.
  • Transparent Fee Structure: Transparent and competitive fee structure is one of the main highlights of Coinitix. Many users complain about hidden charges being levied upon them by other exchanges while services are offered to buyers and investors. But, this is not so at Coinitix. They have ensured that users do not have to bother about any hidden fees or charges while utilizing services available on their platform.

A Final Note

Coinitix is playing an important and instrumental role in bridging the gap between fiat and cryptocurrencies. By making it possible for users to buy Bitcoins using credit cards on its platform, Coinitix is constructively supporting the mass adoption of cryptocurrencies such as Bitcoin. It is also a platform that draws a broader set of people towards greater utilization of blockchain technology.

Users will now find it easier to buy Bitcoins since they can do so by using their credit cards. Additionally, the flexibility and ease of use this platform offers will further increase its popularity.

Export Retention Standardized for All Sectors by RBZ

Export Retention Standardized for All Sectors by RBZ

The Reserve Bank of Zimbabwe announced on August 21 that it had set the threshold for foreign currency retention at 70% for all exporters. The bank has said that the decision comes into effect immediately. The announcement is a part of the broader measures that have been drawn up to promote productivity in the country and sustain the system of foreign currency auction. The retention threshold for the exporters was set at various levels previously and was dependent on the degree of lobbying from the different sectors.

In early 2020, miners were allowed to keep up to 70% of their hard cash. It increased from 55%, and the farmers were allowed to retain only 50%. The rest was cleared off at the ruling exchange rate. Dr. John Mangudya, the Governor of Central Bank, has clarified that the period of liquidation of the unutilized balances of foreign currency has shot up to 60 days from 30. The extension of the liquidation period will help the exporters to manage their cashflows better.

The foreign currency auction system was introduced in June. It has received rave reviews for bringing about stability in the country’s economy through facilitating hard currency to the productive sectors at an affordable rate. Earlier, the primary source of foreign currency for the companies was the parallel market, but it came at a high price.

To sustain the auction system, the central bank has decided that 20% of the foreign currency receipts of the providers of goods and services will get liquidated when deposited in the domestic foreign currency accounts. However, the existing balances in the domestic foreign currency accounts will never get affected by the implementation of this policy. The central bank has confirmed that the foreign currency account balances have grown to USD 405 million from USD 352 million in January. The swelling of the foreign currency balance is excellent news as these are sure signs of the growing confidence in the economy.

Bitmax confirms that COTI is available for Fiat purchase

Bitmax confirms that COTI is available for Fiat purchase

COTI is the 1st blockchain protocol in the world that has been optimized for decentralized payments. It has been specifically designed to be used by payment dApps, stable coin issuers, and merchants. Their first app is COTI Pay, which has more than 80,000 users and 5,000 merchants. If anyone is looking for virtual currencies with a good return, then COTI can be a profitable option. It is estimated that an investment of USD 100 can fetch you up to USD 404 in 2025. COTI has its first listing on the digital asset platform KuCoin and launched the MainNet. They moved to their 2nd listing with Bitmax.io, which took place on July 3 and was based on ERC20 tokens. The best part is that if one has COTI coins in KuCoin, then an instant swap can be made to COTI ERC20 tokens in Bitmax.

For those who are still not aware, Bitmax is a crypto exchange that caters to the crypto space through more than 60 active markets. It is a user-based value exchange system that is entirely blockchain-driven. A quick look at the Bitmax exchange will reveal that it also offers margin trading apart from spot trading. It has its utility token known as BitMax Token (BTMX) and is the primary unit of exchange at this digital asset platform. The ERC20 tokens of COTI can be purchased directly on Bitmax with your credit card, thereby adding a layer of liquidity to COTI. It is to be noted that COTI is the 7th coin available for fiat purchase on Bitmax. To promote the new listing, Bitmax offers a special offer – a 100% fee subsidy on the payments made by credit or debit card to the top 50 verified users on the Bitmax. The promotion will end on August 27, 2020.

Fiscal Stimulus of $306 Billion to Revive the Power Distribution Sector of India

Fiscal Stimulus of $306 Billion to Revive the Power Distribution Sector of India

The Covid-19 pandemic has brought the power distribution companies (DISCOMS) in India to their knees. They are currently facing massive cash flow problems and cannot pay power generating companies unless cash infusion is made in this sector.

To mitigate this problem and to bring the ailing DISCOMS back on track, the Government of India has decided to initiate a one-time fiscal relief by granting a $306 billion revival package to be disbursed through the Power Finance Corporation and Rural Electrification Corporation (PFC-REC).

The Finance Minister Nirmala Sitaraman has announced an overall economic stimulus package that will cover all major sectors and industries. India has been one of the countries hardest hit by the pandemic in the world, and without government fiscal intervention, the economy will only go downhill.

Sitharaman said,

Sitharaman said

Further elaborating on the modalities of this package, she said that the state governments would issue guarantees for the loans for the exclusive purpose of discharging the liabilities by the power distribution companies to the power generating companies (GENCOS). All the GENCOS falling in the central public sector would be instructed to offer rebates to the DISCOMS, which would be passed on to the large industrial sectors, thereby providing much-needed relief directly to bulk consumers. This would help in gearing up for infrastructure growth.

It is ironic that such a situation has come to pass in a surplus power generating country. The root of the problem is that there has been a drastic drop in demand for power and missing bill payments by consumers after a total lockdown was introduced in late March. Since then, the DISCOMS have been limping along, saddled with huge receivables that have made payments to generating companies near impossible.

This infusion of funds is expected will ease the situation now that the lockdown is being lifted in phases. The poor financial performance of the DISCOMs has had a telling and adverse effect on India’s entire power sector.