Home Coinbase Coinbase Made a Huge Crypto Transaction to the Cold Wallet – The Coin Shark

Coinbase Made a Huge Crypto Transaction to the Cold Wallet – The Coin Shark

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One of the most important crypto exchanges in the world and the largest one in the United States, Coinbase, is carrying out a plan aimed at securing its assets. The management of the exchange decided to transfer a significant share of its funds onto a cold wallet, where the money will be stored safely.

To be exact, the amount of transferred assets is as follows:

  • Bitcoin (5%)
  • Ethereum (8%)
  • Litecoin (25%)

Our most critical responsibility is the security of the assets that our customers entrust to us. The gold standard of cryptocurrency asset security is offline, or “cold,” asset storage,” says the Coinbase blog post.

We remind you:

Coinbase Now Has a Crypto-to-Crypto Trading Option for Commerce Customers

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Binance has posted an announcement stating that it has added Ripple’s coin as a base currency on the exchange. From now on, Ripple can be used to make purchases of other crypto listed on the platform. Binance allows users to enjoy the TRX/XRP (Tron) and XZC/XRP (Zcoin) pairs.

Let us look at XRP situation on the market:


Source: CoinMarketCap

The CEO of Binance, Changpeng Zhao, gave a hint at planning to make Ripple a primary asset earlier. The Ripple community had been waiting for this since then. Some Twitter users, called “C3|Nik” and “izombieXRP”, even asked him to do this, though Mr. Zhao did not respond to them.

Several days later, Zhao made an official statement via Twitter:

We will be adding a couple trading pairs with XRP as the quote currency shortly.

And rename ETH markets to ALTS market. Running out of space on the UI.

Merry Xmas!

— CZ Binance (@cz_binance) December 24, 2018

Even though some small crypto exchanges have already added Ripple with altcoins, but a top cryptocurrency exchange has made it for the first time.

We remind you:

Eight Blockchain Projects To Be Launched By Binance Labs To “Create A Strong Blockchain Ecosystem”

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The subsidiary company of Alibaba, Ant Financial, is currently working on purchasing the UK-based international payment firm WorldFirst. Such a step will help Ant Financial to enter the European market and possibly even outrun its major participants.

WorldFirst is headquartered in the UK, but it has offices in Europe, America, Australia and the United States. Recently, it has become the first overseas payment company to receive a license for operating in China. WorldFirst is engaged in providing cross-border transactions services to different businesses, serving as a more convenient alternative to conventional financial institutions.

According to Financial Magnates, Ant Financial will have to spend around 700 million dollars for the purchase.

We remind you:

Alibaba’s Subsidiary Will Allocate $14 Billion to Develop the Blockchain Technology

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Bitcoin, Ethereum, Ripple, Bitcoin Cash, EOS, Litecoin, Cardano, Stellar, IOTA, Dash, Monero: Cryptocurrency prices

According to the Coingecko online platform, Bitcoin (BTC) lost 8.6% over the past 24 hours. The price at the time of writing is $3781 per coin.

Cryptocurrencies are showing significant growth for the first time in the last few months:

Bitcoin Cash lost 18.37% over the past 24 hours and costs $172 per coin;

Ripple lost 12.60% and costs $0.38;

EOS minus 13.55%, and its price is $2.65;

Litecoin dropped by 14.12%, and its rate is $31;

Cardano lost 15.94%, and its value is $0.041;

Stellar fell by 12.88% and costs $0.12;

IOTA decreased by 10.94%, and its value is $0.33;

Dash minus 12.71%, and its price is $85;

Monero became cheaper by 11.43% and costs $50.

Over the past 24 hours, Ethereum lost 12.12%. The price of the coin is $130.

The total market capitalization rose to $129 billion. Bitcoin’s share is 51.6% of the total volume. In monetary terms it is $66 billion.

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A Reddit user from Switzerland under the nickname Julices_Grant created a subreddit, where he complained of having to pay high transaction fees using PayPal and suggested using cryptocurrencies instead.

Let’s take a look at some figures. If we take Switzerland as an example, here regular PayPal users pay from 2.9 to 5% in commissions, as per usual. When it comes to merchants, here the fees can go up to 8-10%, which can significantly affect the earnings.

This is absolutely unacceptable and this why we NEED cryptos,” said the merchant.

Julices_Grant does have some point. Cryptocurrency and its elimination of transaction fees might soon replace major electronic payment systems.

We remind you:

The Value of Bitcoin Transaction Exceeded the Value of PayPal Ones

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The year of 2018 is about to end, thus, it is high time we did some summing up of the passing year for the crypto industry. This time, let’s take a look at crypto exchanges.

For quite a significant period of time, the one and only king of cryptocurrency exchanges was BitMEX, a Hong Kong-based crypto trading platform, while the Korean Bithumb followed closely. However, the situation changed in December. Bithumb became the exchange with the largest trading volume, according to the rating of the CoinMarketCap.


Source: Finance Magnates

Nevertheless, the difference between the volumes of the two exchanges remains not quite significant. Currently, BitMEX and Bithumb are fighting for the first position, regularly replacing each other in the rating.

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Bitcoin, Ethereum, Ripple, Bitcoin Cash, EOS, Litecoin, Cardano, Stellar, IOTA, Dash, Monero: Cryptocurrency prices

According to the Coingecko online platform, Bitcoin (BTC) added 5.1% over the past 24 hours. The price at the time of writing is $4179 per coin.

Cryptocurrencies are showing significant growth for the first time in the last few months:

Bitcoin Cash added 9.30% over the past 24 hours and costs $211 per coin;

Ripple grew by 19.70% and costs $0.45;

EOS increased by 10.25%, and its price is $3.14;

Litecoin gained 10.79%, and its value is $36;

Cardano added 11.83%, and its cost is $0.048;

Stellar plus 11.64% and costs $0.14;

IOTA grew by 5.21%, and its rate is $0.33;

Dash added 8.77%, and its price is $99;

Monero became more expensive by 6.74% and costs $58.

Over the past 24 hours, Ethereum gained 13.90%. The exchange rate of the coin is $149.

The total market capitalization rose to $146 billion. Bitcoin accounts for 50.8% of the total volume. In monetary terms, this is $74 billion.

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