Daily Cryptocurrency News – 23rd October 2018

Welcome to our Daily News article. Here are the most important cryptocurrency news for 23 October 2018:

LocalEthereum Now Supports Popular Ethereum Wallets

LocalEthereum has made an excellent announcement for Ethereum users. You can now connect your favorite wallet to Local Ethereum instead of using a username and password combination.

This means users can now choose to use an external wallet like imToken or MetaMask instead of Local Ethereum’s built-in web wallet.

LocalEthereum is a decentralized peer-to-peer marketplace. One of its best features is that it enables cryptocurrency traders to anonymously buy and sell Ether (ETH) in exchange for fiat currency. The platform does not hold user funds and utilizes Ethereum smart contracts to execute trades between transacting counterparties. Therefore, it provides a level of fund security that centralized exchanges never could.

The platform works with all web3 wallets and dApp browsers. In the future, Local Ethereum wants to add support for other wallets. These wallets include the lesser-known hardware wallets and the WalletConnect protocol.

The new update, according to the team, is not going to affect the user’s privacy. Therefore, all messages and transactions will remain encrypted with the same method. The platform will still not hold the user funds.  However, what will be different, is the log-in flow, and the separation between LocalEthereum and the user’s wallet.

By using an external wallet, now users can by-pass built in wallets as the go-between buying and selling ether, said the company on the release. LocalEthereum will automatically detect the user’s wallet, and the wallet will integrate with the escrow smart contract directly.

There is no doubt this LocalEthereum’s update could increase their users significantly. This is because many people that trade on their platform hold Ether on third-party wallets but want the safety that comes with decentralized apps.

Despite the good news, the company pointed out the disadvantages of the new login method.  To use their accounts on multiple devices, users will need to export the same wallet to each device they want to use.

If you want to know more about LocalEthereum wallet, you can go here

Bakkt Beginning Date just Announced; The Trading of Bitcoin Daily Futures Contracts Begins December 12

Source: Digital Coin News

Bakkt has announced the date it will start to use the ICE exchange family of networks to trade Bitcoin future contracts. This date of the competition is December 12, 2018.

Bakkt is known as the flagship institutional organization pressing into the digital asset space. Many investors recognize Bakkt this way, which includes Bakkt investors such as:

  • Fortress Investment Group,
  • Eagle Seven,
  • Galaxy Digital,
  • Horizons Ventures
  • Alan Howard
  • Pantera Capital
  • Protocol Ventures
  • Susquehanna International Group, LLP

Tier 1 global investment bank is in current discussions with Bakkt to either use their familiar exchange architecture or watch the launch closely.

Regarding the aspirations of the Bakkt organization:

 “In bringing regulated, connected infrastructure together with institutional and consumer applications for digital assets, we aim to build confidence in the asset class on a global scale, consistent with our track record of bringing transparency and trust to previously unregulated markets,” said Jeffrey C. Sprecher, Founder, Chairman and CEO of Intercontinental Exchange.

Bakkt is going to rise soon, and this could potentially change the digital assets market. It is going to be exciting to know what kind of investors will start to become interested in the platform.

For more information, you can visit Bakkt’s website here.

Binance is going to reward 37,000 BNB tokens in a competition for the best trading strategy

Great news from Binance, the platform will be giving away a total of 37.000 of its platform’s tokens. Binance Coins are mainly intended for the operation of the exchange, but users can trade the coin into other cryptocurrencies such as Bitcoin at any time.

The competition from this giveaway will be rewarding the person with the best trading strategy.

The total prize, which is 37.000 BNB tokens (each BNB token is worth $9.74) will be divided among the best 50 traders.

For the first place, the winner will get 8.000 BNB, the second place gets 4.000 BNB, and the third place gets 2.000 BNB. A further 6,000 BNB will be divided between places four to ten. The remaining traders (places eleven to 50) each receive 175 BNB.

How does it work?

The competition is basically all about showing who has the best trading strategy. According to a blog post, there are not any initial restrictions on the competition, there are some requirements though, such as:

  1. The participants will need to have holdings of at least 0.1 BTC equivalent when the competition starts (2018/10/18 0:00 AM UTC).
  2. To remain eligible, the users cannot withdraw during the competition time.
  3. The deposits and referral commissions received during the competition are not included in the calculation. But, returns resulting from new deposits will count towards the final return calculation.
  4. Equivalent BTC value will be the unit of calculation on all amounts.

The participants can feel free to use any cryptocurrency and any amount to show their best trading strategy. The ranking will be done in a way so that the traders who make the highest percentage profit win. After this, all the winnings will be converted into Bitcoin to take the value in Bitcoin as a benchmark.

Interested in the competition? You can find more information on Binance’s article here.

Binance Just Listed Decred, DCR Increased by more than 30%

Binance recently Tweeted its latest listing a couple of hours ago: Decred (DCR).

After the listing of the Decred, the altcoin has surged nearly 25% in less than two hours since the announcement.

At this moment, it is currently trading at $52.42, its highest level since early August.

Decred price got stuck before for two months at a price between $34 and $44. Today DCR rising to an incredibly fast speed. Daily trade volume has significantly surged as well, and now it is about $18 million.

Like all cryptos, Decred went all the way down from its January ATH of $123. Though after today’s revival, that loss is only 60% now. When compared to other significant altcoins such as Cardano which has collapsed 94%, Decred seems to have weathered the storm a little better.

The Decred team were very grateful about the listing and said thank you on their Twitter:

There’s no doubt that this significant rise in just one day is going to attract some investors on the way. Decred is on a good way after recovering 40% from its peak.

If you want to know more about the altcoin, you can visit their website here.

If you missed yesterday news, you can check them out here: Daily Cryptocurrency News – 22nd October 2018

Image Source: FineArtAmerica

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