B2Broker Enables Users to Start Their Own Crypto Business in One Month

The crypto market has witnessed a major growth over the recent years due to the rising demand for cryptocurrency related services. Given the popularity of crypto trading, more and more exchanges are entering the market, thus making it more appealing for new businesses. However, the complexity and high cost of setting up an exchange often discourage entrepreneurs.
B2Broker is a new project for those wishing to start their business in this lucrative sector. With its ready-made turnkey solution, the company allows people to launch their cryptocurrency projects within just a month, whether it’s a trading platform or an ICO.
Establishing a Trading Platform
Setting up an exchange is probably the best way of starting a crypto business, as the amount of new virtual currencies is constantly rising. Moreover, there has been a substantial growth in the number of ICOs that always need to launch their coins on trading platforms.
This type of business is not only time-consuming, but requires a lot of funds. To start a proprietary trading platform will cost you around $500,000 and even such an investment will not guarantee a successful result.
B2Broker is an ideal instrument for starting an exchange with no big budget. Using B2Trader trading platform, users can list unlimited tradable assets, such as digital assets, fiat currencies, and equities. Due to the use of an integrated approach, all components of the platform, including user interface and matching engine, can be easily customized. Moreover, entrepreneurs can start earning funds right from the day of launch.
Launching an ICO Campaign
As more projects are using ICO as a fundraising tool, the need to list their coins on exchanges has also increased. Still, launching an ICO campaign is a challenging process, with many startups failing to reach their goal.
B2Broker has developed its own ICO platform to completely automate the funding process and allow investors to fully control their ICOs. Users can monitor how much money has been raised and how many investors took part in the project. The platform offers a range of other benefits, including a three-level security system, API for data transmission to the website or other sources, configured crypto-processing, a customizable smart contract, and a widget with exchange rates.
To ensure the use of your tokens, B2Broker has created and tested an effective approach that naturally drives the demand. Users can simply set the discount percentage on the trade commission when paying with the platform’s token, thus urging investors to purchase your token.
Setting Up a Cryptocurrency Broker
B2Broker provides a complete set of services necessary for launching a brokerage services business from scratch. The users of the turnkey solution can leverage the advantages of a larger brokerage, including support for multiple currencies and different payment options.
To overcome poor liquidity, which is one of the main problems for brokerage service providers at an early stage, B2Broker offers a broad range of digital currencies. According to the company, their broker aggregates liquidity from five biggest trading platforms, so instead of trusting a single exchange, users can rely on liquidity from different platforms.
In Conclusion
To sum up, B2Broker is a great opportunity for individuals and startups to realize their cryptocurrency project ideas in the shortest amount of time and at a reasonable price. With a full range of services, like sufficient liquidity, multi-currency support, legal framework, and others, it is now easier than ever to launch and run your own business in the crypto sphere.
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Financial Executives Warm up to Cryptocurrency’s Potential, Report Shows

Financial executives have always had conflicting opinions on cryptocurrency. After opposing it for years, it seems a big shift in attitude has taken place. A new report by Greenwich Associates indicates 70% of executives believe cryptocurrencies are not going away. This is a positive change of heart during these crucial times for the cryptocurrency industry.

Financial Executives on Bitcoin
A few years ago, it seemed unlikely any financial executive had a positive thing to say about Bitcoin. Cryptocurrencies have been shunned by financial experts for a very long time. As the world’s leading cryptocurrency continues to attract attention, things have begun to change. Today, most financial executives show an interest in understanding how cryptocurrencies work. That is an important first step toward creating a viable ecosystem.
The new report by Greenwich Associates paints an interesting picture. More specifically, it shows institutional finance executives look at cryptocurrency in a very different manner. Rather than dismiss this form of money, there is a growing interest in exploring new opportunities. Some even go as far as affirming cryptocurrency “is here to stay.” A very bullish signal for this nascent industry.
A total of 141 executives have been polled for this survey. While it is a relatively small sample size, the sentiment cannot be ignored. There are still some concerns regarding future regulatory actions. A harsh stance can cripple the industry in quick succession. So far, no official stance has been made clear by policymakers in the United States. That situation will undoubtedly change in the years to come.

Embracing Banks and Service Providers
Some key findings of this report come as a big surprise. Several key areas of future growth are identified successfully. One aspect touches upon making cryptocurrencies more accessible to banks. That sounds a bit strange, considering how so many banks prevent customers from buying Bitcoin. Even so, any collaborative effort is worth exploring in this regard.
The future of Bitcoin ETFs will play an integral role in this regard. So far, the SEC has rejected all projects exploring this particular market. The lack of regulation, as well as native market volatility, are cited as two main reasons to disallow such investment vehicles. This has not diminished the hopes of companies looking to explore such vehicles.
Another interesting development is the increase in stablecoin offerings. Financial executives show a keen interest in these coins, as they make it easier to access cryptocurrencies. The new coins by Gemini and Paxos are a major step forward in this regard. These changes also confirm institutional progress in the industry as a whole. The year 2018 is shaping up to be a turning point for the industry, despite falling prices.
Were you surprised by the results of this survey of financial executives? Let us know in the comments below.

Images courtesy of Shutterstock.
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Cardano 1.4 Finally Arrives: Long Awaited Update Hits The Network

It wasn’t so long when we had Charles Hoskinson (creator of Cardano) speak largely on his cryptocurrency creation and during that interview, made mention of some updates that were soon hitting the electronic shelves of the blockchain network. To be very frank, things happen so quick within this now blossoming crypto arena – and of course that is  why we are here – such that within a blink so may things just happen, just like that. Within this past week IOTA has announced its Qubic update, and then there has been the launch ofthe new CryptoDefender, and the list is countless.
And with the many updates comes that of Cardano. Hoskinson’s creation, with its unique token has announced the release of the blockchain network’s very own update to Cardano 1.4. Cardano hasn’t struggled much in terms of gaining recognition on the crypto market, owing largely to its rather unorthodox concept of crypto trading and its applications that haven’t seen the light of day yet. Despite being a relatively new token in the market after a successful Initial Coin Offering, Cardano’s ever increasing number of users is a major catalyst to the development of  a new update. 1. 4, which is the name of the new update, could help Cardano get more people unto its side in terms of wooing new or even existing crypto investors unto the platform and its digital token.
Linux Machines Get The Daedelus Wallet
Contrary to the tradition of saving the best for the last, you are getting it first, Linux powered devices will now have the Daedelus crypto wallet fully functioning. Linux devices are most friendly to crypto and blockchain enthusiasts, and the very fact that Cardano owners or investors couldn’t access the Cardano wallet, Daedelus, on the Linux devices was pretty disturbing. However, 1.4 is solving this issue now and developers for Cardano who use Linux can now use the Cardano wallet on the machines. According to the developers of 1.4, the solution has already been created and is “in place”.

Rust In Cardano 1.4 Along With New Testnets
A relatively new but fast spreading programming language for most developers. Used mainly within the cryptocurrency and blockchain community of developers, the lightweight programming code will now be available to users within  the Cardano Cryptocurrency Universe (CCU). lightweight because it is available to and easily accessible most developers. It will help newbies to the Cardano group of developers to easily adapt to the system as well as make key contributions towards growth.
Another upgrade coming to Cardano is the increment of network block processing efficiency within the blockchain. There is likely to be a serious decrease in the amount pf space needed to have Cardano running efficiently or well and stored on a system. Reports state that, this may be achieved by Cardano developers placing individual epochs within their own files instead of having single files on every block. Should this work, we will be seeing a serious reduction from 1.5 million to about just 200. This can seriously save spacefor theblockchain network.
Two new testnets will alsocome with the update 1.4. First is the Shelley Testnet, along with the Cardano Testnet. Shelleyb Testnet was one of Cardano’s ealriest steps towards full decentralisation. And as testnets allow users to test their own suggestions on the blockchain without affecting or causing problems to the main blockchain network. Shelley’s presence may help erode all fears of a fully centralised network on Cardano and thus comes as a relief to most members of the crypto community.
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Cryptocurrency Exchanges Need to Screen New Coin Listings, Upbit CEO Warns

These are exciting and troubling times for the cryptocurrency industry. Hundreds of new assets are introduced to the market every single month. This makes it difficult for investors to determine which projects are potentially worthwhile. Dunamu CEO Lee Sir-goo is convinced exchanges need to take matters into their own hands in this regard.

Separating the Wheat From the Chaff
There is no shortage of cryptocurrencies and digital assets. Several thousands of projects are all competing for traction. It has become very difficult for investors to discern if projects are scams or perfectly legitimate. There is a growing need for intervention in this regard. Something needs to change prior to more people losing money due to nefarious projects.
Coming up with a solution to tackle this problem is very difficult. For exchanges, a screening process is more than warranted. Rather than listing coins and assets willy-nilly, implementing a review process will improve the industry as a whole. Not all platforms are taking such measures at this time. In fact, some exchanges use questionable methods to gain a competitive edge in this day and age.
Lee Sir-goo, CEO of Upbit’s parent company, Dunamu, has a clear vision in this regard. He claims any responsible exchange can improve its selection process. Stock exchanges maintain very strict rules in this regard as well. It is only normal that cryptocurrency trading platforms implement similar measures over time.

Will Exchanges Take Precautions?
Although the concept outlined by Sir-goo makes sense, it remains up to trading platforms to introduce such changes. Simply relying on teams paying listing fees will not make the industry more appealing to investors. Especially now that cryptocurrency is gaining traction among institutional investors, a clearly defined system becomes all the more important.
Lee says:
Stock exchanges like the Kosdaq and Nasdaq all have strict guidelines to determine which company stocks they handle, to protect investors. The same goes for cryptocurrency exchanges.
There are more than 20,000 crypto coins existing around the world today. It’s one way to list any coin as long as a listing fee is paid. But I believe the role of a crypto exchange is to screen for and pick out which is a good blockchain business and token, with aims to help users find the best investment opportunities.
Exchanges supporting fiat transactions need to fulfill an exemplary role in this regard. Upbit is one of those platforms providing such trading options. Their main priority is to prevent money laundering and other criminal activity. This also means they may need to pass up on listing profitable cryptocurrencies in terms of trading revenue. However, the firm prioritizes the protection of its users above everything else.
Thoroughly vetting new assets can also aid in regulatory efforts. Governments are still wary of cryptocurrency exchanges, for a wide variety of reasons. A streamlined system to trade and list assets can make a world of difference in this regard. Now that regulatory discussions are taking center stage, a proactive approach by exchanges appears warranted.
Do you think exchanges should be more critical of the coins they list? Let us know in the comments below.

Images courtesy of Shutterstock.
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WEF Suggests Blockchain Technologies to Narrow $1.5 Trillion Finance Gap in International Trade

The Fourth Industrial Revolution is coming and it’s name deeply entwined with the nascent technologies such as the internet of things (IoT), blockchain and artificial intelligence (AI). These advanced technologies have a wide array of applications delivering the viable and most-needed solutions to major industry challenges with the help of disruptive approach.
The World Economic Forum has perfectly fitted the blockchains alongside with the other cutting-edge technologies into a narrow subject of supply chain finance underlying the international trade development.
According to the estimates provided in the WEF’s research, the current trade finance gap equals roughly 10% of global merchandise trade volumes representing $1.5 trillion worth losses. Left unsolved, the trade finance gap will rise to more than $2.4 trillion by 2025, Bain & Company reports.
The reasons behind such a waste largely stem from a limited access faced by the small and medium enterprises that apply for credit and loans required for business extension.
On the other hands, regardless of a company’s scope, the modern enterprises actively involved into the international trade suffer from paper-based, outdated manual processes that stand in the way of reliable, real-time information gathering and tracking required for credible financing decisions.
Therefore, based on a thorough analysis, the WEF sentenced the blockchain technology to be a barrier-breaker establishing seamless processes at the core of an effective and efficient cross-border ecosystem. Distributed ledger and other technological innovations promise groundbreaking advances in trade and supply chain finance by reducing costs and ease of use.
Bain’s modeling estimates that new digital technologies, especially distributed ledger technology, can reduce a large part of the observed gap, facilitating about $1.1 trillion of new trade volumes globally.
Moreover, the researchers stressed explicit importance of the disruptive digital ledger for Asian countries since almost three-quarters of total documentary import and export trade transactions originate or arrive in Asia.
It means that once a blockchain-based system integrates into the traditional trade and supply chain processes, Asian economies will receive a chance to unfrozen about $105 billion worth working capital that today is captured within the trade finance gap.  
Step by step the global community begins to adapt the robust technologies. On daily basis Coinspeaker reports the last updates taken place within the industry. Recently the U.S-based major cryptocurrency companies and tech veterans have created the Blockchain Association conceived to lobby the interests of crypto-community in the halls of power.
In the meanwhile, the blockchains gain a legislative authority as the Supreme People’s Court of China has issued new rules, which state that blockchain records must be considered as legal evidence in the court.
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Top 5 Blockchain Projects Currently In Alpha

The blockchain world is full of hype, however, many promising–and generously funded–projects have yet to turn out a demo or a working product. Although there are more theoretical and “in-development” projects than platforms that have gone live on the market, there is a growing number of blockchain companies that are releasing promising alpha, beta, and even fully functioning versions of their products. Here are five projects that crypto enthusiasts can access right now, using only MetaMask and their browsers!

DAOstack is building what they call “the WordPress of DAOs.” Decentralized Autonomous Organizations (DAOs) will be part of the next generation of blockchain innovation, however, user-friendly tools to build them are hard to come by. DAOstack is changing that by providing modular tools for DAO builders. Users can mix-and-match governance modules to create the DAO that best suits their needs.
A major part of DAOstack’s tool suite – Alchemy, a DApp for collective decision-making and budgeting within DAOs – recently became available on the Ethereum mainnet. Alchemy is the guiding decision-making tool of the soon-to-be-launched Genesis DAO – you can see it in action at https://alchemy.daostack.io/#/.
Through Alchemy, DAO members can create proposals for allocating resources within the DAO and stake tokens on the proposal’s success. Creating, voting for, or staking in favor of proposals that succeed earn users higher reputation scores, which they can leverage for further privileges in the DAO.

SingularityNET is another highly ambitious blockchain project that you can participate in right now. SingularityNET describes itself as a “Decentralized Self-Organizing Cooperative” which is similar to a DAO, but a bit different because SingularityNET will receive high-level governance from a nonprofit foundation.
This organization’s goal is to provide an open-source framework for developing and exchanging AI services. AI is a powerful tool currently siloed within high-profit tech companies who can afford to build their own custom services. With SingularityNET, companies and individuals can contract with AI developers and businesses to create and use custom modular tools. SingularityNET manages this complex ecosystem through a set of smart contract templates used to moderate interactions among both human and AI agents.
SingularityNET’s alpha network is already live at http://alpha.singularitynet.io/ and users can experiment by interacting with agents using AGI tokens. A screenshot released by CEO Ben Goertzel in early 2018 demonstrates the kinds of services available in SingularityNET’s AI marketplace.

Matryx is the brainchild of Nanome, a biotech company that builds tools for VR rendering of research-related objects such as pharmaceutical molecules or calculus vectors. Matryx uses blockchain to further Nanome’s interests in research and development by unlocking the power of crowdfunding.
Users who hold MTX tokens can enter tournaments on the Matryx alpha site. In tournaments, teams both collaborate and compete to find solutions to proposed problems. Matryx’s blockchain registers all actions in the tournament and ensures that everyone who contributes to the winning solution, even incrementally, automatically receives token rewards via smart contracts. True to Nanome’s VR roots, many of the challenges entail VR manipulation elements, so owning a headset is helpful!
You can test drive Matryx’s alpha at http://alpha.matryx.ai/.

The blockchain and crypto community demographics are skewed toward younger generations, so retirement planning may not feel like an immediate concern. But Auctus recognizes that a blockchain can bring real benefits to the retirement planning process and that hopefully, it will get more people planning earlier.
Auctus uses a blockchain and smart contracts to moderate transparent relationships between retirement fund holders and human or robo-advisors. Their platform approaches retirement funds holistically, including both traditional assets such as 401ks and less traditional ones such as cryptocurrencies.
Users can contract with a mixture of human and robo-advisors to help them make investing decisions. When decisions pay off, smart contracts ensure that advisors are rewarded with both AUC tokens and improved reputation. A marketplace of third-party apps will provide additional services via blockchain.
The project is still in alpha stage, but users can already upload holdings information, run analytics, and access robo-advisors. The alpha is available at https://platform.auctus.org/.

Akasha is a social media network similar to Medium or Reddit, where users can publish content and upvote or downvote others’ posts. What makes Akasha different is the fact that it runs on the Ethereum network (no surprise there; Akasha’s founder is Ethereum co-founder Mihai Alisie and Vitalik Buterin serves as an advisor). Because Akasha content lives on a blockchain network rather than any one server, it’s immune from censorship. Upvotes and downvotes trigger smart contract-enabled microtransactions, so writing quality content earns its authors crypto rewards.
Akasha users can search by tag, username, and context text to find and follow quality content and creators. Users can create “boards” that represent different interests to stay informed. Users earn Mana on the platform for locking up their AETH tokens and can spend Mana by voting on content, while a “Karma” measure keeps track of overall contributions to the network. Akasha is currently in beta phase and can be found at https://beta.akasha.world/.

The blockchain industry is still in its infancy, but it is experiencing intense growth and change every day. While it’s an exciting and promising place, its early adopters must wrestle with a certain amount of risk. One study found that almost half of ICOs launched in 2017 had failed within the first few months of 2018. That statistic shouldn’t scare people away from blockchain; however, it should reinforce the value of projects that enter the alpha phase or beyond, demonstrating that they’re well along the road to a successful project.
Can you think of other blockchain projects, currently in alpha, that should be listed here? Let us know in the comments below.

Images courtesy of Shutterstock, DAOstack, SingularityNET, Matryx, Auctus, Akasha
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Google Removes Three Crypto Wallets From Play Store

The shocking news for the whole crypto world came today, September 13. Over the last 12 hours, Google has removed three major cryptocurrency wallets from Play Store without indicating the reason. Among the delisted wallets were Bitcoin.com, CoPay and BitPay.
Despite it is not clear yet, what exactly brought about such a surprising action, Bitcoin.com CEO Roger Ver blames Google’s new cryptocurrency mining policy, according to which crypto mining apps are no longer allowed on Play Store. The delisted wallets are not mining apps, but Ver believes it was some kind of misunderstanding:
“Google told us that it was because they no longer allow crypto currency mining apps. I have no idea how they came under the impression that our wallet is a mining app.”
Anyway, Bitcoin.com is the only wallet among the removed three, which was relisted in a few hours after the incident became known.
The BitPay team gave no comments about the possible reason of its app being surprisingly dismissed, which leaves the community in total uncertainty, whether is it still safe to keep their funds in this wallet.
According to a cached version of Google, BitPay has over 100,000 downloads on the app store and a significantly high level of customer satisfaction, averaging 4.5 stars.  So far there are no reports of hacks or security violations, so the wallet had a high number of users and a high level of confidence in its clients.
BitPay is famous for providing services that allow merchants and businesses that traditionally use fiat money to adopt cryptocurrencies. In comparison to other wallets, this one offers its users such features as the possibility of buying Amazon Giftcards, integration with Coinbase, a crypto-backed Visa Card for the United States, integration with Glidera, acquisition of gift cards from Mercado Livre Brazil and Shapeshift integration.
Many Bitcoin Cash users hold on to the point of view that the strange incident is a part of some kind of “conspiracy” of Bitcoin users agains Bitcoin Cash.
As it was noted in one of such comments:
“They aren’t attacking Bitcoin-BTC though, which speaks volumes to the fact that they already took control over that in 2013. Bitcoin-BCH is the last bastion of hope for global freedom, and if Bitcoin Cash fails, there is absolutely no hope for a free future for our grandchildren, and I fear future generations will look back at this period in history as the time we lost our freedom.”
Anyway, BitPay wallet continues working on all the other platforms without any changes, as well on the devices that have it installed.
The post Google Removes Three Crypto Wallets From Play Store appeared first on CoinSpeaker.

Why Should Argentina Buy Bitcoin to Leave its Crisis Behind?

Argentina has always been involved in cyclical economic crisis. Devaluations, defaults and and an immense public spending. This is why Michael J. Casey, chairman of CoinDesk’s advisory board, has proposed the Argentine government to overcome the latest crisis with a solution that partly includes Bitcoin.
Bitcoin to Solve Argentina’s Economic Problems
In an article published on September 10, Mr. Casey explains that Argentina tried many different economic solutions for its permanent economic chaos. According to him, there might be a solution to this situation embracing crypto-friendly approach on the matter.
Casey has been living in Argentina for over six years, in Buenos Aires. He mentioned the good things about living in this South American country, but he also highlights the main problems that the nation has. The main issues he marked were: broken civil institutions, corrupt governments, and a dysfunctional economy.
He says that the problem of Argentina is related with trust. Something that virtual currencies and blockchains solve using a decentralized approach.
If citizens do not trust their government, then they would also not trust their currency. This is the story of Argentina. And indeed, the country moved from being one of the richest in the 20th century to one in the middle of the list.
He asks about the future of Argentina:
“What if a digital currency that’s easily available for electronic, cross-border transactions became these people’s go-to means of storing wealth, rather than greenbacks stored in hidden safety deposits boxes that can’t be easily moved offshore?”
However, he was not the first thinking in this way. Wences Casares and Andreas Antonopoulos were already thinking about a crypto solution for these problems.
And indeed, Buenos Aires is now the second city with the most crypto-related projects in the world.
Moreover, Santiago Siri, a blockchain enthusiast and developer from Argentina, proposed Luis Caputo, President of Argentina’s Central Bank, to place up to one percent of its national reserves in bitcoin. It seems a modest idea but it could have very important effect.s
The solution proposed by Siri would add more diversity to the central bank’s reserves. Moreover, Siri suggest the government to start mining virtual currencies with its large nuclear power capacity in order to expand its reserves.
This shows that there is a meaningful interest in improving financial innovation in the country. Having 1% of the total reserves in Bitcoin could help the Central Bank experience an increased revenue in the future if foreign governments abandon their dollars during a global trade war.
As in the past neither orthodox nor heterodox measures worked in the country, this could be the best moment to try a new approach outside the mainstream. Perhaps Bitcoin.
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OKCoin Cryptocurrency Exchange Surges into 20 New US States

After a successful launch in California, the OKCoin cryptocurrency exchange is expanding into 20 new states.

The naysayers may still be painting doom and gloom pictures of the cryptocurrency industry, but acceptance and adoption are steadily growing. The latest example of this is the massive expansion of OKCoin, the Hong Kong-based cryptocurrency exchange, into 20 new states within the USA.
OKCoin Increasing Their Reach
The cryptocurrency exchange set up shop earlier this summer in California. The platform is now using that successful venture as the springboard to move into additional states.
The exchange announced that they had expanded their token-to-token trading activities to the following states: Alaska, Arizona, Colorado, Idaho, Illinois, Indiana, Kansas, Maine, Maryland, Massachusetts, Michigan, Minnesota, Missouri, Montana, Nevada, New Jersey, Tennessee, Texas, Utah, and Wisconsin.

Token-to-token trading is now live in 20 more states! OKCoin continues to work with local laws and regulators to ensure we operate a fully regulated exchange. https://t.co/dJ63vKWScX#Cryptocurrency #Exchange #Trading
— OKCoin (@OKCoin) September 12, 2018

OKCoin went out of their way to work with regulators to ensure their ability to operate within the different states. This is no small task as each state can have different criteria for approval. The exchange also notes that they are in full compliance with all state and federal laws. The exchange is applying for money transmittal licenses (MTL) for both token-to-token and fiat-to-token trading for those states that they are not currently allowed to operate in.
Of this new expansion across the United States, OKCoin CEO Tim Buyn says:
In order for the cryptocurrency market to reach its full potential, exchanges like OKCoin have to work with existing and new regulators for convertible virtual currency, digital goods, and/or securities. Our team has worked diligently within the complexities of the US regulatory frameworks. We’re excited to take this major step forward as we aim to break down the barriers preventing a truly global digital asset market while adhering to long established regulations.
Founder Being Questioned by Police
This new expansion is good news for the cryptocurrency exchange. However, its founder is currently facing scrutiny from law enforcement in China.
Xu Mingxing, the founder of OKCoin and OKEex, has been accused with fraud in regards to a little-known crypto project called WFEECoin. Xu is voluntarily cooperating with the police and maintains that he is not a shareholder of WFEECoin.

Police in Shanghai have opened up an investigation into the matter. Xu is not under arrest, but he may be in police custody for some time. It appears that the police investigation will continue until Xu can prove his claims of innocence.
The police investigation of Xu notwithstanding, this move by OKCoin into 20 additional states is a very positive development. It shows that state governments and exchanges are willing to work together, which only helps further the acceptance of cryptocurrency.
Do you live in one of the new states OKCoin can operate in? Let us know in the comments below.

Images courtesy of Shutterstock and Twitter/@OKCoin.
The post OKCoin Cryptocurrency Exchange Surges into 20 New US States appeared first on Live Bitcoin News.

More than 50% of all Initial Coin Offerings (ICOs) fail to raise money

Initial Coin Offerings are currently facing a very heavy reputation problem. The pump-and-dump schemes gained, which gained a lot of attention recently are only part of the problem. GreySpark Partners’s reseach on cryptocurrency growth shows some other shocking facts about Initial Coin Offerings. Nearly 50% of all Initial Coin Offerings in 2017 and 2018 failed to collect any funding at all. 40% managed to raise more than $1 million each.
The research studied ICO markets for the last few years and their finds are interesting to say the least. A shocking 890 token sales were unable to raise any funds, while 743 reached the 1$ million check point.
It’s noted in the research that a huge percentage of these token sales failed to provide any returns, especially as time goes on. The report used data from ICODATA and ICO-Check by August 2018.
There have been numerous discussions about the futures of Initial Coin Offerings. Many developers think that regulations and investors with better information gathering tools in combination with the current market situation, are responsible for the downward path of token sales. Others believe that scams and pump-and-dump schemes are the main reason for the bad state of ICOs.
The research focuses on more technical reasons and goes into detail on why the decline could be caused by a combination of all of the above. A serious lack of traction, scams, poor execution, unreliable marketing and rare product advancements. It’s not all bad because there is one market that seems to be upside: crypto-hedge funds.
The report states that as of September, a total of 146 firms have focused specifically on crypto and token projects only. This a huge increase despite the initial heavy drop in January 2018. In 2012 there were exactly 9 firms who were listed as crypto-hedge funds.
These crypto-hedge funds don’t come without a risk. On the contrary, they embrace it. Unlike traditional hedge funds, these crypto-hedge funds consist almost entirely of long positions with high risk. According to the analysis, they will continue to grow and it’s estimated that they will number between 160 and 180 until the end of the year.
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