EOS Price Analysis: Bulls Facing Uphill Task

EOS price is struggling to continue above the $2.750 and $2.820 resistances against the US Dollar.
There is a decent support forming near the $2.500 and $2.535 support levels.
There are two major bearish trend lines in place with resistance near $2.750 and $2.820 on the 4-hours chart of the EOS/USD pair (data feed from Coinbase).
The pair could only start a strong upward move once it settles above the $2.850 level.

EOS price is facing a lot of hurdles for a bullish wave against the US Dollar and bitcoin. The price could decline in the short term towards the $2.500 support area.
EOS Price Analysis
This week, there were swing moves in bitcoin, Ethereum, ripple, litecoin and EOS against the US Dollar. Earlier, EOS price started a strong recovery from the $2.341 low and traded above the $3.500 resistance area.
The upward move was strong as there was a break above the $2.600 resistance area. Moreover, there was a close above the $2.600 level and the 55 simple moving average (4-hours).
The last swing high was near $2.855 before the price started a downside correction. It traded below the $2.650 level. Besides, the price broke the 23.6% Fib retracement level of the upward move from the $3.341 low to $2.855 high.
On the downside, there are many supports near $2.550, $2.520 and $2.500. The 50% Fib retracement level of the upward move from the $3.341 low to $2.855 high might also provide support.
If there is a downside break below the $2.500 support, the price could continue to decline in the near term. The next key support is near the $2.400 level, below which it could revisit the $2.350 support area.
On the upside, there are many important resistances near $2.750. Additionally, there are two major bearish trend lines in place with resistance near $2.750 and $2.820 on the 4-hours chart of the EOS/USD pair.
The second bearish trend line near $2.820 is very important along with $2.850. Therefore, a successful close above $2.850 could set the pace for more upsides in the coming sessions. The next major hurdle is near the $3.000 and $3.050 levels.
EOS Price
Looking at the chart, EOS price is clearly trading a few key resistances such as $3.750 and $3.850. If it continues to struggle, there is a risk of a downside reaction towards the $2.500 and $2.400 support levels in the near term.
Technical indicators
Hourly MACD – The MACD for EOS/USD is slowly losing momentum in the bullish zone.
Hourly RSI (Relative Strength Index) – The RSI is currently moving just below the 50 level.
Major Support Levels – $2.500 and $2.350.
Major Resistance Levels – $2.750 and $2.820.
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Mike Novogratz Is Likely to Purge Off the Unprofitable Pantera ICO Fund

Coinspeaker Mike Novogratz Is Likely to Purge Off the Unprofitable Pantera ICO FundIn general, the fund that made a bet on different unknown coins is experiencing major troubles. The long-awaited “altcoin season” didn’t come.ICO Funds Related to Shitcoins are Receiving  the HeatAccording to the sources, ICO designated portfolios are losing most of the profits. Many of the funds keep the “illiquid, pre-launched” tokens which will only be launched at the end of 2019. However, this does not add those tokens any credibility.Instead, we see that privacy-oriented PoW coins are keeping their pace, gaining new advocates and followers.Somehow, the prices fall in the lights of numerous ICO scam actors and projects reputation. Starting with the obvious thieves like Tadas Kasputis from EgoPay or Dmitrii Vasilev from BTC-e/WEX, and proceeding to sophisticated ones like the OneCoin pyramid orator Ruja Ignatova. She can be considered as the most talented hypnotist among all the crypto scammers.Not a big surprise that the Pantera ICO Fund sees significant losses with a fair value of $2,878,391 while the investors did put $17,406,675 into the ICO stack during Q3. Also, there’s a bunch of other investment firms who pledge on altcoins and odd tokens and lose profits during 2019.Source: Galaxy Digital Holdings LP Management’s Discussion and AnalysisMike Novogratz and his Galaxy Digital investment group have put a significant portion of the capital into this industry. The holdings reached almost $106,5 million in Bitcoin back in September 2019. It is not a substantial sum compared to some big Bitcoin exchanges and their cold wallets.However, many ICO related funds have been putting the money and efforts into opaque projects that lost their traction during 2019, sometimes – even before the launch. As people in the industry become smarter, the ICO funds turn obsolete.Novogratz Must be Thinking of Kicking Pantera ICO Fund OutIf we visit Galaxy Digital’s official website to look up the stats, we could see a PDF outlining the Management discussion and analysis performed by the group to determine Q3 gains and losses, as well as some other issues.Across venture companies, the returns on ICO and other types of new token investments are under-performing. Even the classic Bitcoin and altcoin holders gain more by just holding. Imagine a world where the usual non-investing people buy coins, wait half a year and win. While at the same time, professional investors keeping every day near the graphs and lose. That’s the Bitcoin’s world. The dreamers put the money into shady tokens that “cure cancer” or “make hot chicks jump onto you out of the blue”.Strangely, investors are expecting profits from such projects. But crypto veterans know that ICO tokens are “pocket currencies” which keep falling and serve as a good cause for generating painful memes. They have zero utility and are not used by millions of people for everyday cross-border payments. They don’t have a stable code like BTC, BCH or XMR. There are thousands of the ICO tokens, but the merchants still prefer Bitcoin and Bitcoin Cash. No way to convince them to shift to “more scalable and robust” (but less secured) alternatives.Since the majority of ICO tokens don’t have any actual usable products, they will not generate mass effects and profits even if you put billions in the marketing, fancy websites, cute dark-grey photos and provocative PR.Mike Novogratz Is Likely to Purge Off the Unprofitable Pantera ICO Fund

Elon Musk: Bitcoin Has Quite the Brilliant Structure

The founder of PayPal and CEO of Tesla, SpaceX and SolarCity Elon Musk spoke recently about Cryptocurrencies. As always, the opinion of Elon Musk on every single topic is quite interesting. Elon Musk spoke earlier this year in an interview on the ARK Invest podcast on February 19th and referred to Bitcoin for having “quite the brilliant structure.”
According to him, Digital Currencies are a far better and convenient way to transfer value than pieces of paper. He believes that Digital Currencies and Blockchain technology have a brilliant structure that needs more development, but on the downside Bitcoin is very CPU and Energy expensive and intensive. He stated:
“The Bitcoin structure is quite brilliant… one of the downsides of most Cryptocurrencies is that computationally they are quite energy intensive. So there have to be some kind of constraints on the creation of Digital Currencies. But it’s very energy expensive to create the incremental Bitcoin at this moment.”
Elon Musk is pro-crypto
Elon Musk also added that it wouldn’t be of Tesla’s interest to involve resources in involving themselves in Crypto and continue to accelerate the advance of sustainable energy. He added:
“Digital Currencies bypass currency controls, which will be fixed in the future. Paper money are going away and Crypto is a far better way to store and transfer value than just pieces of paper, that’s for sure.”
On his own Crypto holdings, Elon Musk tweeted recently that he only owns 0.25 BTC. They were given to him by a friend, but other than that he owns zero Digital Currencies. The Tech community is mostly favorable on the Crypto topic. Twitter CEO Jack Dorsey said earlier this month:
“Bitcoin feels it’s the one that wants to be currency the most, versus others that are doing more general purpose things or distributed computing… I think altcoins have generated some really amazing ideas, but I’m focused on currency and the transactional aspect.”
Bitcoin occupies a special place as a store of value for the whole Digital Currency community. Bitcoin acts as digital gold and it will further cement its spot. Mike Novogratz has recently stated:
“Bitcoin is going to be the digital gold, a place where you have sovereign money, it’s not U.S. money, it’s not Chinese money, it’s sovereign. Sovereignty costs a lot, it should!”
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Litecoin (LTC) Price Analysis: Risk of Additional Losses

Litecoin price is declining and trading well below the $50.00 level against the US Dollar.
LTC price is struggling to recover above the $46.50 and $47.20 resistance levels.
There is a major declining channel forming with resistance near $46.00 on the 4-hours chart of the LTC/USD pair (data feed from Coinbase).
The pair is likely to extend its decline below the $44.00 and $42.00 levels in the near term.

Litecoin price is trading in a major downtrend against the US Dollar and bitcoin. LTC price could accelerate losses below $42.00 until it settles above the $50.00 resistance.
Litecoin Price Analysis
After a nasty rise, there was a subsequent reversal in bitcoin, Ethereum, ripple and litecoin against the US Dollar. LTC price remained in a downtrend below the $49.30 and $48.50 pivot levels.
Moreover, there was a close below the $46.50 level and the 55 simple moving average (4-hours). The recent decline was such that the price even broke the $45.00 level.
A new low is formed near $43.71 and the price is currently consolidating losses. On the upside, an initial resistance is near the $45.05 level. Besides, the 23.6% Fib retracement level of the downward move from the $49.40 high to $43.71 low is also near $45.05.
On the upside, the first key resistance is near the $46.50 level. Additionally, there is a major declining channel forming with resistance near $46.00 on the 4-hours chart of the LTC/USD pair.
The channel resistance is near the 50% Fib retracement level of the downward move from the $49.40 high to $43.71 low. Above the channel resistance, the 55 simple moving average (4-hours) is also near the $46.60 level.
Therefore, the price might struggle to surpass the $46.50 resistance area. The next major resistance is near the $49.30 level. An intermediate resistance is near the $48.00 level since it the 76.4% Fib retracement level of the downward move from the $49.40 high to $43.71 low.
Conversely, the price is likely to continue lower below the $43.70 and $42.50 support levels. The main support is near the $40.50 level, below which there is a risk of a sharp decline in the coming sessions.
Litecoin Price
Looking at the chart, litecoin price is clearly trading in a bearish zone below the $46.50 and $48.00 resistance levels. It seems like the price could even test the $40.00 support unless the bulls gain traction above $46.50 and $49.20.
Technical indicators
4 hours MACD – The MACD for LTC/USD is slowly losing momentum in the bearish zone.
4 hours RSI (Relative Strength Index) – The RSI for LTC/USD is now well below the 50 level, with a bearish angle.
Key Support Levels – $42.50 and $40.50.
Key Resistance Levels – $46.50 and $48.00.
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Microsoft Partners with Enjin to Launch Azure Heroes

Coinspeaker Microsoft Partners with Enjin to Launch Azure HeroesIt seems that the biggest tech behemoth Microsoft in the world decided to enter the crypto space with the leading blockchain gaming project. It plans to use the ENJ token in order to back-up blockchain assets.The biggest technological company on Wednesday introduced Azure Heroes. It works as a rewards system using digital collectibles. In order for this to happen, Microsoft decided to partner with the blockchain gaming project Enjin to create a blockchain-based recognition program.As per the statement:“Microsoft and Enjin have collaborated in a local pilot to create a blockchain based recognition programme. The Azure Heroes badgers were created in a number of original and unique designs which have been tokenized into a digital asset on the Ethereum public blockchain.”Individuals who make a valid and valuable contribution to the community can be therefore rewarded. All they have to do is fulfill some tasks such as coaching, creating demos and even blogging about Azure. After they do that, they will receive special badges. Users also have to download the Enjin wallet in order to store received badges that can be later transferred to any Ethereum address or destroyed.Every badge is tokenized and is “wrapped” around a certain amount of ENJ token using the ERC1155 protocol. Each token’s supply is limited and backed by the Enjin Coin. For example, their Inclusive Leader token has only 100 supply while the Maker Token has 10k supply.More than 30 games have been built on Enjin and many other platforms decided to utilize Enjin for other businesses as well. The number of possibilities for its ERC-1155 tokens usage is humongous. NFT enables its users to experiment with things such as identification or authorization. Even the simplest tasks such as having digital name cards can open the entrance into the crypto space.Users can get the digital collectibles by scanning a QR code with the Enjin wallet. The app is available in the Apple or the Google store.As Microsoft can brag with its huge users’ network, there is a big chance the digital collectibles’ exposure will be huge as well.With Microsoft on board, the company says they see no reason why other big players wouldn’t try it out as well. From Microsoft, they said they intend to continue the reward tokens issuing until the end.This magnitude of the community’s inclusivity by utilizing digital collectibles creates a different playing field due to its insufficiency. It will probably make the community more competitive in attempts to achieve the rarest of collectibles. This, in turn, helps in the spreading and appreciation of their business while saving marketing money.However, this is not Azure’s first attempt to enter the crypto sector. This major cloud computing platform already in March presented a blockchain development kit in partnership with America’s largest bank J.P. Morgan. Azure CTO Mark Russinovich then said that this was a ‘natural choice’ given that it is powered by the Ethereum protocol. The partnership helped both companies advance their Blockchain ambitions by making Quorum more accessible to customers.At the time of writing ENJ rocketed 32.72% to $0.078.Microsoft Partners with Enjin to Launch Azure Heroes

Bakkt CEO Kelly Loeffler Picked for U.S. Senate Seat

Coinspeaker Bakkt CEO Kelly Loeffler Picked for U.S. Senate SeatUnited States Governor from Georgia Brian Kemp on Wednesday officially appointed Bakkt CEO Kelly Loeffler to the U.S. Senate, where she will succeed current Senator Johnny Isakson.Some media already reported on Friday that Kemp was considering Loeffler and today it is confirmed that she will take office on January 1, 2020. Even though Isakson’s term ends in January 2023, Loeffler will have to run for election next year if she plans to serve past January 2021.Loeffler, a Republican, was appointed even though President Donald Trump preferred another candidate, probably Rep. Doug Collins who, as the ranking member of the House Judiciary Committee and one of the highest-profile Republican figures involved the impeachment probe, would probably have the best contacts possible to reach pro-Trump donors across the country.Still, Loeffler got the support of Senate Majority Leader Mitch McConnell.Loeffler is famous for saying she is “pro-Trump,” pro-border wall on the Mexican border, the Second Amendment advocate and, of course, against abortion and socialism. However, she somehow forgot to address crypto or Bitcoin in her introductory comments.According to reports, Kemp opened an online application process for this position after Isakson announced he would retire on December 31, 2019 for health reasons. On the last day of the deadline, Loeffler applied for the position. Before opening the application process Kemp said that “while unorthodox, we opened the process to everyone.”Loeffler has been the chief executive of Bitcoin Futures Market Bakkt since its announcement in 2018. Under her ruling, the company succeeded in launching its physically-settled Bitcoin futures contracts earlier this year.Bakkt recently announced its plans to develop a consumer-focused app that will help its customers easily use this app for proper business interactions with several merchants, using digital assets. Also, it plans to expand its custody services, as well as roll out options and cash-settled futures contracts in the next few weeks.For now, it’s still not known who will take charge over Bakkt once Loeffler leaves her position on January 1, 2020. The most probable choice will fall on current COO and former Coinbase executive Adam White.Be it as it may, Loeffler doesn’t plan to save money. As per Politico’s report, she plans to spend $20 million of her own money on her 2020 Senate campaign in Georgia — a sum so big that it could discourage potential rivals in big time.She is sure to join other extremely rich candidates to tap their personal wealth in recent years. Now-Sen. Rick Scott spent more than $60 million of his own on his successful 2018 bid, while New Jersey Republican Bob Hugin spent $36 million on his effort the same year but he failed.Still, one thing is pretty sure. Loeffler will not insist on accusing digital assets of all the sins after she gains a senate seat. There is a hope she could become the most active advocate of electronic peer to peer cash that is in use among millions worldwide.Meanwhile, the Bakkt platform is still setting records and has just pulled in a new one on its Bitcoin futures weekly volume of $124.0 million as well as its max open interest of $4.3 million.Bakkt CEO Kelly Loeffler Picked for U.S. Senate Seat

Crypto CREDIT is Africa’s Sleeping Giant

Coinspeaker Crypto CREDIT is Africa’s Sleeping GiantIt has been one year since the first block was produced by the CREDIT cryptocurrency brainchild of African blockchain firm Terra. Dubbed “the cryptocurrency for everyone”, this decentralized proof of stake crypto has remained as easy to mine as it always has been, continuing to give holders and stakers a trusted way of passive crypto generation.In that one year, Johannesburg-based TERRA has continued to roll out an incredible range of products centered on building digital payment processing solutions in developing economies on the continent, such as Nigeria.2 billion people are disconnected from the financial world. These unbanked do have smartphones, but cannot access baking services, placing trillions or more US dollars outside the global financial system. CREDIT mining can happen on these smartphones, giving real-world solutions to those seeking to store value and increase wealth outside the banking system.Besides staking for guaranteed 100% annual returns, CREDIT is also facilitating online and physical payments using simple smartphones and other basic devicesTerra Foundation founder and CREDIT creator Dan Ronchese said:“The only way a cryptocurrency can become a global payment system is if everyone who makes payments has access to it”.As such, CREDIT is designed to ensure everyone can have access. Via MiniPOS, anyone can stake CREDIT and earn every hour.Alongside a focused development on its decentralized crypto CREDIT, Terra has supported the creation of eight other products complementing each other, all of them introducing innovations that will change the way emerging markets view money.These are the details of these 8 products:MiniPOS – Which is a web wallet for staking CREDIT, letting holders earn more easily with every block produced. Instead of requiring a CPU, even smartphone users can now partake in passive generation via staking with 100% returns every year, rewarded to them every hour.Terra.Credit – The decentralized public ledger and CREDIT blockchain explorer enabling complete and immutable transparency.Terra Hub – Terra-hub is a social network offering CREDIT as a reward for incentivized action. This is a fair and democratic monetization of over 250,000 users.The Tellus Ecosystem – Tellus-pay and Tellus-merchant together form a payments ecosystem for the unbanked, allowing users to access Fiat (Naira and Rand included) and Crypto support as well as MiniPOS access to stake CREDIT, all this without a bank account. Physical and digital sellers can now integrate Tellus to accept instant payments, without being charged any fees or commission.Terra Mart – Terra and Tellus-pay together operate Terra-mart, the shopping marketplace with absolutely zero fees. Vendors can now put up all goods and services online, via their own unique digital store and customized URL. Buyers must use CREDIT to buy from vendors. The price you see is the price you pay, and the price you get – buyers and sellers pay no fees!Terra Wallet – An app wallet also available via web, Terra Wallet is still in development, but all major functions are available. Once fully rolled out, users can use basic Androids to transact with and store CREDIT on the go.TerraceX – TerraceX is a South African cryptocurrency exchange platform, featuring conventional exchange services on the spot market with stop/loss features across all major currency pays. 100% of fees collected are given back to users through referral. CREDIT users benefit from wider access to exchange options. TerraceX currently offers fiat to crypto services in 5 African countries, with Colombia about to be added.Terra DAX – Users can connect to all their favorite exchanges and trade from one place via the Terra-DAX native trading app.The CREDIT BlockchainBeginning life as a hybrid PoW/PoS blockchain, CREDIT is now producing blocks only via proof of stake, with thousands of miners securing the CREDIT Blockchain and getting rewarded with new coins every new block. Terra is supported on a wide range of platforms, including Windows, Mac, Linux, Android and even Raspbian from the start. Since miners don’t compete, everyone gains from supporting the blockchain.CREDIT on the Free MarketCREDIT price movements and trading volumes have been showing a generally positive trend, with trading volumes also on the increase. Most recently, credit moved about 40% from the previous month to trade around $0,000012. CREDIT is available across several exchanges, including Bitforex, Catex, Hubi and TerraceX.To learn more about African crypto for everyone, meet the community on the Terra Telegram channel.Crypto CREDIT is Africa’s Sleeping Giant

Someone Performed a Very Unprofitable 51% Attack on Vertcoin

After experiencing a nasty 51 percent attack roughly one year ago, Vertcoin has been subjected to another such attack on its blockchain.
Vertcoin: The Victim Once Again
51 percent attacks occur when hackers secretly infiltrate a specific blockchain and then begin mining their own chain through the ledger. Granted the attacker has enough mining power under his or her belt, their chain can potentially overtake the ledger originally governed by the cryptocurrency or company in question.
After a while, the attacker reveals their chain and it automatically becomes the new chain for the currency, taking on the form of a “mini-fork.” This is often done because the attacker is eager to cash in on all the original block rewards they’ve mined. However, this doesn’t always work given that it takes an exorbitant amount of time to do this, which presents a window for the hacker to be discovered.
In addition, there’s also risk of the cryptocurrency falling in price or value, meaning that the hacker’s rewards can fall significantly. To avoid this, a hacker may seek to utilize what are known as springboards or double-spend attacks.
This causes someone to spend money two times in a row. A transaction can occur on a standard blockchain, but if a hacker has overtaken it and is now mining on the new chain, they can undo that transaction and force the user to spend the money on their own chain, ensuring they retain a cut or some of the profits (i.e. fees) associated with the transaction.
In the case of Vertcoin, it is reported that the attacker may have spent more than a full day trying to mine from their secret blockchain through a site called Nice Hash. This is likely because Vertcoin is only listed on a limited number of exchanges, one being Bittrex. That platform typically requires a full day to go by before any Vertcoin funds can be spent – a strategy designed to override such attacks.
With so much time at their disposal, the hacker is forced to spend more money and time mining new coins. This, for the most part, diverts the attacker from revealing their own chain, and thus they wind up losing a lot more money in the end.
The Attack Wasn’t Profitable
This was the case with Vertcoin’s attacker, who despite their “best” efforts, wound up on the losing end of the spectrum. It is widely believed that the culprit may have spent as much as $7,300 to maintain the equipment necessary to carry out the attack, yet only made half that much through the attempt. With such an expensive method taking place, the motives of the person behind the attack remain a mystery.
Vertcoin, however, remains vulnerable to these kinds of attacks in the future, despite the unprofitability of the recent attempt.
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South Africa Reserve Bank to Release New Crypto Regulations

A bank in South Africa is introducing new regulations regarding how people can – and should – hold cryptocurrency.
South Africa: The New Crypto Hotspot?
The South Africa Reserve Bank (SARB) says that the new rules will become applicable during the early months of 2020 following a consultation period that has lasted nearly five years. The country has been virtually lost regarding how cryptocurrencies should be monitored and governed and has been seeking advice and outside counsel from digital currency experts since 2014.
According to Kuben Naidoo – the bank’s deputy governor – some of the institution’s primary concerns are preventing white-collar crimes and stopping cryptocurrency fraud. Digital currencies, he says, can be used to evade currency controls, and the bank is looking to ensure this risk comes to an end. Thus, one of the new rules will be to limit the amount of currency leaving the region.
This rule would also apply to bitcoin and any of its altcoin cousins. If the bank notices a very large amount of crypto being transferred to an outside wallet or party, an investigation is likely to follow.
Africa has had a relatively mixed relationship with cryptocurrency. Several smaller banks throughout the continent have already sought to limit the amount of crypto activity occurring, such as the First National Bank (FNB). The institution is one of South Africa’s “big five” banks and has already shut down all its customers’ accounts that may be dealing in digital assets.
FNB says there is too much risk involved with crypto, including its volatility and its ties to criminal activity such as money laundering.
At the same time, many see Africa as a prime region to boost crypto trading and blockchain innovation. Recently, Square and Twitter CEO Jack Dorsey announced he would be moving to an unnamed country in Africa from anywhere between three to six months after touring several regions. His goal is to establish a stronger crypto presence on the continent and potentially bring more crypto trading to Africa’s people.
Among the countries Dorsey toured were Nigeria, Ethiopia, Ghana and South Africa. Granted South Africa’s new crypto regulations prove to be too strong or constrictive for Dorsey, he may have to settle on one of the other three regions to bring his plans to life.
Establishing a Crypto Presence
Dorsey announced in a recent tweet:
Sad to be leaving the continent… for now. Africa will define the future (especially the bitcoin one!) Not sure where yet, but I’ll be living here for three to six months mid-2020.
In addition, several new blockchain and crypto startups have chosen Africa as their home, among them Bit Hub, which was founded four years ago by John Karanja. The company seeks to promote the presence of crypto in the country and limit the failings of traditional finance in Africa.
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Nordea Bank Wins Court Case; Employees Can’t Hold BTC

A Danish bank known as Nordea Bank has taken some flak for saying that its employees are not allowed to hold bitcoin or other cryptocurrencies. After a long legal battle, the court has ruled in favor of the institution.
Nordea Bank Wins Its Case
At first glance, the entire issue appears unconstitutional. People should be allowed to invest as they deem fit and hold whatever assets they want without experiencing interference from their employers or outside parties.
However, the court ruling over the case says that the volatility and risks present in the crypto space is what sparked the verdict. The court ruled that the bank was simply trying to protect its employees from making any investing decisions that could potentially come back to haunt them.
Despite these good intentions, is it fair to interfere with people’s personal lives like this? A company should probably only be allowed to govern a person while they are performing work-related duties in the office, but anything done outside is beyond the company’s jurisdiction. This is ultimately why the suit was filed by Denmark’s union for financial employees, which issued a statement saying that it was not happy with the verdict and that it plans to continue the fight.
Kent Petersen – the union’s chairman – explained:
We filed suit because of the principle that everyone obviously has a private life and the right to act as a private individual. It was important for us and our members to establish what rights managers have. In this case, it was more far-reaching than what we find to be appropriate.
Banks and crypto have been in a constant battle since bitcoin first arrived on the financial scene in 2008 following the Great Recession. The main problem with banks is that while they are designed to keep customers safe and shield them from financial risk, they often will not provide the tools necessary to allow all customers or individuals to live day-to-day.
For example, garnering a checking or savings account is arguably a necessary task for virtually everyone, but granted a person doesn’t have a valid credit history, they’re likely to be shut out or cast aside. This person has the same needs as someone with valid credit, yet they’re not getting the access to the tools they’ll need to survive.
The Fight Will Go On
Cryptocurrency, on the other hand, is designed to fix this problem. It doesn’t care about your past or any previous financial decisions you’ve made, and instead provides you with a quick method of paying for goods and services. Sadly, crypto is often very volatile, meaning any money you invest in it could easily disappear overnight.
Nordea Bank initially stated that there was too much risk involved with crypto and that it had been linked to criminal activity.
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