Bitcoin

Cryptocurrency In India: What Can We Expect In The Future? Currently, bitcoins and other cryptocurrencies are beyond the purview of legal regulation in India Indian investors are waiting in anticipation for the official verdict on cryptocurrency exchanges in the country. Even though El Salvador has embraced the digital revolution in currency, India is still mulling over the issue. Last week, Jayant Singh, Chairman of the Parliamentary Standing Committee on Finance, said in an online event that the Indian government would take a “distinctive approach” to regulate cryptocurrencies in India. The statement came at a time when cryptocurrency is still unregulated in the country. India has a strong base of cryptocurrency investors and exchanges. But investors are still in the dark about the future of cryptocurrency. Is Cryptocurrency Illegal In India? Currently, bitcoins and other cryptocurrencies are beyond the purview of legal regulation in India. We cannot call them illegal because they are not yet authorised for use by any central authority in the country. Cryptocurrency remains outside the scope of any guidelines, regulations, or rules. This makes Bitcoin and altcoin transactions riskier because disputes arising from these exchanges will not be legally bound. Cryptocurrency Taxes Though India hasn't yet imposed regulations on cryptocurrency transactions, it has asked for transparency in all such undertakings. In April, amendments were introduced in the Companies Act for this purpose. Owing to this transparency, digital asset and the gains thereof are likely to be counted as a capital asset, which is bound by taxes under capital gains. But companies are not yet sure how to treat the different types of gains and income in this regard.

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Bitcoin

In mid-June of this year, Upland reached a major milestone, where 1 million Property NFTs were minted on their platform. Another gigantic leap has recently been made in the metaverse: players have earned $1,000,000 by participating in the Upland Metaverse Economy. Upland.me is an NFT metaverse mapped to the real world, where players can buy, sell, and trade digital properties. They have been breaking records in recent months, and have just hit a new milestone. $1 million worth of NFTs have been either bought, sold, or traded between Upland users. This means that digital property trades between players have crossed the $1,000,000 threshold. Upland currently has in-game locations in various US cities such as: New York City, San Francisco, Chicago, Oakland, Cleveland, and other smaller cities spread across the United States, with more on the way. Each property in the Upland metaverse is a non-fungible token (NFT) on the EOS blockchain, giving the users true ownership of their properties. Upland’s metaverse stands out amongst other NFT metaverses largely because it is mapped to the real world. This allows players to explore a familiar metaverse and buy property NFTs that are meaningful to them. Property development is also being rolled out, and players can now build on their property parcels with Upland’s unique, stakeable, Spark token, which creates a unique Structure NFT built on their owned land. Upland’s approach to a free market economy means that players are able to flip property NFTs and make informed decisions about their property buying strategy. Soon, players will also be able to start their own businesses to enable greater economic activity to support real-world earnings. Real laws of supply-and-demand are already taking hold in Upland, and the metaverse will continue to grow as more features, partnerships and collaborations develop. Everything in the metaverse is scaled to real world economics. Their in-game token, UPX, is the primary means for players to purchase, trade, or sell their assets amongst each other, allowing them to cut deals and enact their own wit to grow their net worth. UPX has a fixed rate of $1 to 1,000 UPX. Players have seen incredible returns by making strategic property purchases and later selling these properties for a profit. When asked how players’ net worth has changed over time, player BEN68 recalled that his net worth had grown “From 4,000UPX when [he] started in January 2020, to 64,500,000UPX in June 2021.” This represents an astonishing 1,612,400% increase in his net worth! GreenTurtle, another Uplander, reported only investing $5 into the platform and has realized gains of over 100,000%. This is just the beginning for the Upland metaverse. The Property-to-USD beta facilitates trade between players with real US dollars, allowing them to also earn fiat currency from their in-game assets. This enables Upland’s Play-to-Earn gaming model, which gives players the unique opportunity to see real-life returns from their strategy and ingenuity. To register for Upland, visit this link to gain a 6,000 UPX starting bonus which will get your property portfolio off to a strong start. Upland is available on iOS, Android and the Web, and can be played from anywhere in the world. To stay up to date on all things Upland, follow the project on Twitter and join their 30,000 members-strong Discord here.

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Bitcoin

Investors who plan to hold their crypto assets for years, otherwise known as HODLers in crypto parlance, typically store their cryptocurrencies stashed in a hardware wallet or keep it idle on a crypto exchange. But this practice is changing. Today, HODLers are turning to cryptocurrency savings accounts as they pay high interest in crypto deposits. The interest rates on conventional bank deposits are almost negligible — often below 0.5% — when compared to the likes of a crypto savings account — up to 12% annual percentage yield (APY). High reward typically goes hand in hand with high risk and that is the case with cryptocurrencies and crypto savings accounts. The name of the game is trust and due diligence on the part of the investor. How it Works To understand the level of risk that you’re exposing yourself to, it’s important to know what happens behind the scenes. When you deposit your crypto assets into a crypto savings account, the platform lends your holdings to individuals, corporations or institutions. Each entity uses the borrowed crypto assets for its business functions — market-making on its own platform, hedging against Bitcoin prices or liquidity. The borrowers return the assets to the lenders with high interest. The platform takes a small portion of the interest for itself and passes the rest to the users. It may also lend your assets to decentralized protocols and earn interest from there. What’s the Risk? HODLing exposes investors to several kinds of risk. Since cryptocurrency is a form of digital currency, investors face the risk of hacks. The chance of a hack depends heavily on the platform and the safety protocols it uses. Without encryptions or a strong safety infrastructure, it could be prone to a breach. Companies that are not regulated or licensed with a traditional operating permit and government registrations may also be easy bait for hackers. Furthermore, if a platform stores your tokens in a hot wallet, it may be vulnerable to attack. Traders prefer a hot wallet to trade funds quickly. But this type of storage could be dangerous because the public and private keys are kept on the internet.

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Bitcoin

BUSINESSECONOMYAU MARKETS Top 3 Easiest Ways of Making Money with Bitcoin By IBT Contributor on September 18 2021 4:33 AM Bitcoin, the first ever cryptocurrency, has turned 12 years old. While the crypto market continues to grow, cryptocurrency projects like Bitcoin offer more and more opportunities to make profits. When most people hear the word Bitcoin, they think about how people made fortunes by investing in the cryptocurrency at the right time. Is it now too late to make money with Bitcoin? As we move into the digital age where everyone is looking to perform their everyday tasks online from the comfort of their homes, it is worth noting that a lot of people see Bitcoin as the future of money. A lot of people are still taking advantage of the increasing money-making opportunities that Bitcoin offers. There are more than enough ways of making money and profits with Bitcoin. All you need to do is identify which method suits you the best and make efforts. It wouldn’t be wrong to say that Bitcoin will continue to offer money making opportunities for years to come. Making money with Bitcoin has been a hot topic for quite some time now. However, a lot of people are not ready to go into the technicalities involved with the crypto world. While most people are aware of digital cryptocurrencies, they don't know how the revolutionary Blockchain technology works or how they can mine crypto coins. Most people are just looking for easy ways of making money or profits with Bitcoin, which is why we chose this topic for today. We will talk about some of the easiest ways that anyone can use to make money through the biggest cryptocurrency, Bitcoin. Buy and Hold This is perhaps the simplest way of making money through any cryptocurrency. Think about it, the price of Bitcoin was less than $1,000 a couple of years ago but today it sits around $47,500. Those who invested in Bitcoin a couple of years ago have made huge profits by buying and “ hodling” onto their crypto assets. Being one of the easiest ways of earning profits, this is easier than you might have thought. All you have to do is invest in Bitcoin. You can do this by buying Bitcoin(s) right now, or whenever the price falls so you can be more comfortable investing your hard earned money. Then you can later sell the crypto coins once their price value increases to make a profit. While most people are reluctant to invest because of the volatile nature of Bitcoin, it is the volatility that can cause huge shifts in price value over short periods of time, which results in regular profit making opportunities for the investors. Moreover, some people are not sure whether the price of Bitcoin will continue to rise in the near future. Crypto enthusiasts believe that the price of Bitcoin could go as high as $100,000 in a couple of years. However, it is important that you develop a strong investing strategy and perform the necessary analysis before you invest. It’s always a good idea to start small so you should not invest what you can’t afford to lose. The good news is that you can buy a small fraction of Bitcoin, which means that you could invest as little as $200-300. Bitcoin, like many other cryptocurrencies, shows a lot of promise and being the most well-known cryptocurrency Bitcoin is perhaps the safest crypto investment option available today. Day Trading This is the most effective way to earn profits and many professional crypto traders make huge amounts of money through day trading. It is important to note that day trading is not the same as holding onto a crypto asset until its price value increases. It is important to have the proper analytical and technical skills to become a successful day trader in the crypto market. You will have to read and analyze graphs and market charts to develop an understanding of Bitcoin’s performance. It will allow you to make informed decisions and trade profitably. It is a good idea to practice trading with a demo trading account so you have all the required skills and practice before you can put your own money on the line. While it may take some time for you to become a skillful trader, this is the most rewarding method of making money through Bitcoin. Day traders buy and later sell Bitcoin for profit on the same day. Day traders perform multiple trades every day and are able to collect a good amount of money every day if they can accurately predict market swings and movement. Trading profitably can be made even easier with the help of a trading app or a platform that offers automated trading, such as Bitiq. Such apps make use of AI and machine learning and take into account many factors that can have an impact on the price value of Bitcoin before performing trades automatically on behalf of the users. Microtasking While this is definitely one of the easiest ways, it is not the most rewarding. However, if you have extra time, you should look into performing some small tasks for cryptocurrency platforms or pay-to-click websites and get paid in Bitcoin. Yes! That’s exactly how easy it is. While the tasks can vary, they are mostly simple enough. The tasks can include taking surveys, watching videos, viewing ads, testing apps and other such small manageable tasks. It is important to note that the amount of Bitcoin that you will earn will be small and it could take years before you can gather enough Bitcoin to earn a good amount of money.

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Bitcoin Core 0.22 Earning Investment

 

The Securities and Exchange Commission intends to sue Coinbase over a planned interest-earning product, says the cryptocurrency exchange.

Last week, the SEC sent Coinbase a Wells notice warning that it intends to sue in court over the planned Lend programme, says the company's chief legal officer Paul Grewal, in a blog.

News of the Wells notice sent Coinbase shares down more than three per cent in premarket trading on Wednesday.

In a 21 tweet-long thread, Coinbase CEO Brian Armstrong accuses the SEC of some "really sketchy behavior," adding that the watchdog refused to meet with him in Washington earlier this year. 

Coinbase had planned to launch Lend in the next few weeks after nearly six months of "proactively engaging" with the SEC, says Grewal.

The programme would let eligible customers earn interest on select assets on Coinbase, starting with four per cent APY on USD Coin.

Grewal claims that the firm could have "simply launched" Lend without approaching the SEC and that other crypto companies "have had lending products on the market for years".

"The SEC told us they consider Lend to involve a security, but wouldn’t say why or how they’d reached that conclusion," says Grewal.

In addition, the watchdog "asked for the name and contact information of every single person on our Lend waitlist," says Grewal, adding that Coinbase has not handed over the information.

The SEC has not commented on the issue.

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Cryptocurrency wealth management platform Abra has raised $55 million in a Series C funding round led by Ignia and Blockchain Capital.

Kingsway Capital, Tiga Investments, the Stellar Development Foundation, Lerer Hippeau Ventures, Amex Ventures, Arbor Ventures, RRE Ventures, CMT Digital Ventures, and Kenetic Advisors joined the round.

Founded in 2014 by Bill Barhydt, Abra’s hundreds of thousands of users earn high yield on their crypto assets, trade over 100 different crypto currencies and borrow dollars against crypto holdings.

The firm has processed over one billion dollars in crypto backed loans and in the last year has seen revenues increase ten-fold.

The new financing will be used to beef up the Abra product team into new offerings for wealth management, trading, and payments; scale the marketing team; and develop high net worth and institutional sales offerings.

Says Barhydt: "Cryptocurrencies, NFTs and DeFi are now top of mind for almost all investors. The crypto asset class is growing exponentially, even outpacing the early commercial Internet itself. Our vision of crypto-centric banking is coming to life in front of our eyes, and Abra is excited to serve as a leader in the space."

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