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Tag: crypto tracker

  • Is EOS Coin a Good Investment? | Analysis and Experts Views

    The EOS Coin has gained a lot of popularity in the crypto market. The crypto token had a very successful ICO of all time as it raised more than $4 billion.

    Due to this many investors are closely looking at the EOS price.

    But, is it really worth investing? Read this article till the end to find the answer to this question.

    What is EOS?
    What is Unique about EOS Coins?
    EOS Price Analysis and Price Potential
    Long Term EOS Price Prediction 2022-2031
    Expert Views on EOS Coin
    Is EOS a Good Investment?
    FAQ

    What is EOS?

    EOS is developed by Block.one and was founded in 2017. It was released as an open-source platform in 2018.

    You must have seen many people comparing EOS to Ethereum. This is because EOS is also a blockchain ecosystem through which individuals can create and develop decentralized apps (dApps).

    Like many other cryptocurrencies, EOS was created to solve flexibility, scalability, speed issues, and high fees in Ethereum and Bitcoin.

    The whitepaper for EOS is written by Dan Larimer and Brendan Blumer and was released in 2017.

    EOS wants to be the most powerful infrastructure for dApps. Block.one has provided all the necessary tools and resources to help developers make functional apps quickly. The user-friendly design is its highlighting feature.

    Many investors believe that EOS will change how corporations interact by providing decentralized enterprise solutions which can significantly increase productivity.

    Interestingly, the owners of EOS coins also have the right to vote on various issues. Using blockchain they can participate in on-chain governance. EOS is also supported by famous investors like Peter Thiel and Michael Novogratz.

    What is Unique about EOS Coins?

    In the crypto market EOS is a controversial crypto token. But, due to its powerful technology, it has long-term profit potential.

    The blockchain technology behind the EOS.IO can empower many industries and businesses. It can change computer resources and how various applications work.

    Due to all these impactful reasons, the value of EOS in the long term can increase. The most overlooked factor is that the Block.one CEO and EOS cryptocurrency token’s main developer is Dan Larimer.

    He is the person who generated the concept of decentralized autonomous organizations (DAO) and invented proof-of-stake. No wonder he is known as Bill Gates of blockchain.

    He was an integral part of the founding of companies like Steemit, Bitshares, and Graphene. Larimer’s involvement in EOS suggests that EOS will be in this race for the long term and its price can also increase.

    EOS Price Analysis and Price Potential

    To analyze the price potential of EOS we first need to check its history. EOS was traded at around $1 in 2017. But, by the end of the year, it reached a very high price of $11.39.

    In April 2018 it skyrocketed and reached its all-time high of $22.89 but it eventually fell to $2.56 by December 2018.

    In 2021 the EOS cryptocurrency had a price of $2.61 and increased to $8.72 in April. At the beginning of May, the EOS price spiked to $13.47 and then was fluctuating between $6.15 – $6.30 on 1st June.

    Now, predicting the actual value of EOS is quite tough. This is because blockchain technology like EOS is new and still has many years left to show its true potential.

    Many investors speculate that blockchain technology will upgrade more and revolutionize many industries. If this happens then EOS has the potential to break its all-time high price.

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    Long Term EOS Price Prediction 2022-2031

    EOS will continue to jump up and down in the coming years. The analysis given below is by Cryptopolitan.

    Note: These are all predictions and not actual figures. No one can accurately predict the price changes of EOS. With that in mind let’s see the predictions.

    In 2022, the anticipated minimum price of EOS is $1.64. Considering the average EOS price prediction of $1.70, the price may go as high as $1.92.

    In 2023,  the EOS future price of EOS cryptocurrency can reach a minimum value of $2.37. The average price for EOS could be $2.45 with a maximum price of $2.85.

    The minimum price of EOS in 2024 could be $3.57 and the average selling price can reach $3.67. It can touch a maximum price of $4.14.

    In 2025, the cost of 1 EOS can reach  $5.09. Throughout the year the coin will carry an average price of  $5.28. The EOS price can go as high as $6.18.

    The minimum price of EOS in 2026 is predicted to be $7.45 with an average anticipated price of $7.67. The coin can go as high as $8.64.

    In 2027, the lowest price of EOS is predicted to be $10.86 with an average trading value of $11.25. While the highest price of EOS could be $13.12.

    In 2028, the minimum price could be $15.89 with an average selling price of $16.34. The highest the EOS could reach is $18.99.

    It is predicted that EOS in 2029 will reach a minimum price of $24.27 with the average price being $24.92. The maximum price of EOS in 2029 will be $27.76.

    In 2030, the lowest the coin could reach is $34.17. EOS will have an average trading price of $35.17 and the highest price predicted is $41.52.

    In 2031, EOS will have the lowest price of $49.33. The highest it can reach is $60.40, with an average prediction price of $51.09.

    You need to understand that the crypto market is unpredictable and these predictions shouldn’t be your only deciding factor for investing in crypto.

    Expert Views on EOS Coin

    Jihan Wu, CEO of Bitmain said that the EOSIO protocol is a great example of blockchain innovation. Its performance and scalability can meet the needs of demanding consumer applications and will pave the way for mainstream blockchain adoption.

    Galaxy Digital which is a crypto investment firm has made a huge investment in this project. Founder Michael Novogratz said that EOS had significant outperformance compared to the rest of his company’s portfolio.

    Wallet Investor suggests that EOS can be a good long-term investment.

    Edgar Fernandez, EOS Costa Rica Co-Founder said, “EOS has the potential to create millions of verified human EOSIO based accounts if there’s a use case behind it, whether that’s regulatory, in the private industry, or public sector. It could be anything from decentralised ID to efficiency in customs agencies, to issuing bonds on a blockchain, to tokenized fiat money, or the traceability of vaccines”.

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    Is EOS a Good Investment?

    EOS is a good investment in the long run. But, if you are looking for a short-term investment then EOS is not a good choice for you. Your investment decision will depend upon your price analysis, fundamental analysis, and future situations in blockchain technology.

    The development in blockchain development and how it will replace a lot of things indicate that EOS has a bright future. Although there is no definite answer to this question. It depends upon your investment style and taste.

    As you know the crypto market is unpredictable and we cannot advise you anything. How much risk investors should take will depend upon their comfort and income. But, as you have noticed through the EOS coin numbers and what other investors think EOS can benefit you if you make the right decisions at the right time.

    FAQ

    Who is the founder of EOS?

    Dan Larimer is the founder of EOS.

    When was EOS crypto founded?

    The Alpha release of EOS crypto was in 2018 and the latest release was in 2020.

    Is EOS a good investment?

    According to experts and forecasts, EOS is a great long-term investment.

  • Why the UK banned the world’s largest cryptocurrency exchange, Binance?

    The cryptocurrency exchanges have been growing for a very long time with a huge set of believers towards the digital coins. At the same time, there has been a lot of crashes, a lot of wealth wiped off, and as well as a lot of wealth gained through it.

    However, many countries across the globe have been laying restrictions over the trading of cryptocurrencies and the most recently even the UK has banned the largest cryptocurrency of the world from undertaking transactions related to cryptocurrency. In this article let’s look at the reason for it.

    Binance – Latest News
    Terms stated by FCA to Binance
    Reason Why UK imposed a ban on Cryptocurrency exchange – Binance
    Will UK ban other cryptocurrency exchanges?
    FAQ

    Binance – Latest News

    The Financial Regulator of Britain has ordered Binance which is one of the largest cryptocurrency exchanges around the globe, to stop all the regulated activities conducted by the crypto exchange. The Financial Regulator has also issued a warning for the consumers about the platform which is coming under critical observation globally.

    In a notice that was sent on 25 June 2021, the Financial Conduct Authority of the UK has conveyed to the UK entity of Binance, Binance Market Limited that the exchange should not carry out any regulated activities without the prior written consent from the FCA.

    Terms stated by FCA to Binance

    The trading of cryptocurrencies is not directly restricted in the United Kingdom but offering services such as trading in the derivatives of cryptocurrencies does require the authorization.

    The FCA has asked Binance to display a notice on its website and social media channels by 30 June 2021 stating that “BINANCE MARKET LIMITED IS NOT PERMITTED TO UNDERTAKE ANY REGULATED ACTIVITY IN THE UK”.

    Other than this the FCA has asked Binance to secure and preserve all the records relating to the UK consumers and to provide the information to the FCA by 2 July 2021.

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    Reason Why UK imposed a ban on Cryptocurrency exchange – Binance

    The regulator has not provided any information or has provided an explanation for why it had taken the measure against Binance. However, Binance had stated earlier that it takes its legal obligations very seriously and engages with the law enforcement and regulators in a collaborative manner.

    Some of the reasons can be the problems faced by Binance across the globe. The regulator of Japan has conveyed on 25 June 2021 that Binance had been operating in the country illegally. This was found through a notice that was posted on the country’s Financial Services Agency Website.

    In the month of May officials from the US Justice Department and Internal Revenue Service who investigate tax offenses and money laundering had sought various information from individuals regarding insights into the business of Binance.

    In the month of April, the financial regulator of Germany, BaFin had warned the exchange about the risks of being fined for offering Digital tokens without a prospectus of the investor.

    These can be the reasons why the UK had decided to ban the cryptocurrency exchange in the country. Amidst the growing number of acquisitions and cases against the Crypto exchange, the UK regulator would have taken the move.

    Will UK ban other cryptocurrency exchanges?

    Since the month of January 2021, the FCA has asked all the different Cryptocurrency exchanges and the apps that offer crypto related services to register and to provide details that they comply with the rules of anti money laundering. However, in the month of June, the FCA has conveyed that only 5 firms have registered and that the majority of the firms were not compliant.

    The FCA is stepping up its unintentional failure to notice the cryptocurrency trading, which has grown in popularity in the UK along with various other countries across the globe.

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    Conclusion

    This may be a major step towards hunting down the firms that are not compliant with the anti money laundering rules in the country. Binance may be the first step that is taken by the regulator. However, the countries across the globe have been hunting down the crypto exchanges and various transactions of the cryptocurrencies.

    FAQ

    Is Binance banned in UK?

    Yes, The UK financial watchdog has banned leading cryptocurrency exchange Binance from all regulated activities.

    Why is Binance being banned?

    Binance has not registered with the FCA and therefore is not allowed to operate an exchange in the UK.

    Will UK ban Crypto exchanges?

    The U.K. does not regulate cryptocurrencies, but it requires exchanges to be registered to operate, which means companies must comply with anti-money laundering measures.

  • Blockonomics – Simplifying Bitcoin Transactions

    The way people do transactions has evolved dramatically over centuries, from a barter system to a monetary system; from plastic money to now bitcoins. Since its creation in 2009 by Satoshi Nakamoto, an increasing number of people now see Bitcoins as a trusted way of transaction, as now major companies like Microsoft, BMW, and Etsy are also accepting Bitcoin payments. Going by numbers, the cryptocurrency market was valued at USD 1.03 billion by 2019 and is projected to reach USD 1.40 billion in 2024, growing at a CAGR of 6.18% during the forecast period. This growing popularity of bitcoins inspired Shiva Sitamraju to start Blockonomics, a startup that unlocks the power of Bitcoin by allowing entrepreneurs and enthusiasts to manage their bitcoin payments with ease. Here is a peek into the journey and operations of this Hyderabad-based startup.

    Company Highlights

    Startup Name Blockonomics
    Headquarter Hyderabad
    Founder Shiva Sitamraju
    Sector Ecommerce
    Founded 2015
    Website blockonomics.co

    Blockonomics—About
    Blockonomics—Founder
    Blockonomics—How It All Started?
    Blockonomics—Work Culture
    Blockonomics—Revenue Model
    Blockonomics—Challenges
    Blockonomics—Growth
    Blockonomics—FAQ’s
    Blockonomics—Conclusion

    Blockonomics—About

    Blockonomics simplifies the process of receiving /making payments through Bitcoins and tracking Bitcoin transactions. The company has introduced a number of features for this, which includes –

    • Bitcoin Payment Plugins for e-commerce merchants, supporting sites like WordPress, Wix, WHMCS, and many more
    • Bitcoin Payment Button/URL, which allows people to set up quick and simple payment options and donations
    • Bitcoin Invoice, so you can pay your employees easily in Bitcoin, or charge customers if you’re a freelancer.
    • Wallet Watcher, so you can easily keep track of all your wallets, with many sub-features such as the Export Feature allowing you to see all your transactions in a simple place.
    • Bitcoin Tracker, a quick way to see any transactions and wallets on the Blockchain.

    “Allowing people to control their own sales and payments is an important part of Blockonomics, and is a driving force in what we do. Many e-commerce merchants have to use expensive payment solutions that go through middlemen, so it limits the control of their sales. Our products seek to ensure entrepreneurs can more directly control their cash inflow and to cut down on fees they experience. We also make the easiest to use Bitcoin payment plugin, the other options are often more complicated” says Blockonomics Shiva Sitamraju emphasizing the USPs of Blockonomics.

    Blockonomic’s products facilitate ease and direct control. The company’s e-commerce plugins tie directly into e-commerce platforms, for easy installation and tracking. For scenarios where a plugin can’t be used, Blockonomics’ in-house solutions, such as the payment button/URL and invoice function are made to be easily implemented into whatever website, email, etc might be used.

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    Blockonomics—Founder

    Shiv Sitamraju | CEO, Blockonomics (Extreme Right)

    Shiva Sitamraju is the CEO of Blockonomics. Shiva is an MTech from IIT Delhi. He has experience in scalable backend engineering and has held lead engineering roles in a number of startups before. Blockonomics currently has a team of 7 people spread throughout 4 continents. There are 3 members of the marketing team, and 3 on the software development and design.

    Blockonomics—How It All Started?

    Blockonomics started as a Wallet Watcher to track a large number of bitcoin addresses. Sitamraju himself is a bitcoin enthusiast, and was facing problems with monitoring and tracking multiple bitcoin addresses, which made him create ‘Wallet Watcher’ as a tool to help himself out. In December 2014, Sitamaraju launched Blockonomics Wallet Watcher on the bitcointalk forum. The initial response of the bitcoin community on Blockonomics’ Wallet Watcher was very good and it was very heartening for the Blockonomics team to constantly receive feedback on features to add to the product.

    “We used community forums like bitcoin talk, StackExchange, and Reddit. These channels are most important to build your MVP into an actual startup. Even though the growth of user metrics may be slow using these channels, they are valuable to build user trust and help to steer you in the correct direction. In 2015, Blockonomics’ thread became hugely popular on Reddit bitcoin.  Even though we had very few users and zero revenue, constant feedback from customers and a sense that this product is getting used kept us going” says Shiva Sitamraju.

    Blockonomics Founder & Team Members

    However, after 2 years, when Blockonomics monetized its Wallet Watcher, the team soon realized that the revenue stream for the product was very less. So the company started diversifying its offerings.

    “Though some people were willing to pay for the Wallet Watcher, the amount was very less and creating pressure on our margins. After looking at some other services that were selling e-commerce payment plugins, we realized that this market was a good fit for our product which already had backend ability to serve blockchain queries” says Shiva about the initial challenges of the startup.

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    Blockonomics—Work Culture

    Blockonomics’ work culture has always been completely remote (even before covid).

    When Shiva started to recruit remote work, he had two simple rules:

    • Hire from anywhere in the world
    • Don’t look at resumes

    The company never had an office and the team has never been restricted to geographical boundaries. Also, the team avoids holding unnecessary meetings and has only one meeting per week. All work is done asynchronously using tools like Slack, Trello, Github. This gives employees more flexibility and there is no assigned office time (you don’t need to be online 9-5).  This also means all team members are independent / self-driven and there is a trust that no one needs monitoring/ management.

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    Blockonomics—Revenue Model

    For the Address Watcher Users, Blockonomics charges a flat subscription fee. The subscription fee ranges from 0- 20 USD per month based on address limits and API features. While, for merchants, the company offers the first 10 payments free and thereafter charges a 1% fee on payments.

    Blockonomics—Challenges

    Building a viable business has been the major challenge for the Blockonomics team. Shiva was from a tech background and he did not have any entrepreneurial experience. It took him quite some time to become able to handle a business. Initially, Blockonomics had very few users and earned almost zero revenue. The team had to dig through business knowledge from podcasts/books and learn on the road.

    Blockonomics—Growth

    Despite all the struggle, Blockonomics has today established itself as a sustainable and profitable company that is making a difference. Some major growth parameter achieved by Blockonomics are-

    • Active WordPress installs – 3000+
    • Total merchant store installs – 10,000+
    • Blockonomics is monitoring 300,000+ addresses
    • 140,000 payments have been processed through Blockonomics payment plugin/payment button/URL
    • 6,500 P2P invoices have been created through the platform.

    While there are many who are still confused and unsure about Bitcoins, startups like Blockonomics are doing a good job in making more and more people confident about using Bitcoins by making Bitcoin transactions easy.

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    Blockonomics—FAQ’s

    What is Blockonomics?

    Blockonomics is a decentralized Bitcoin payment solution that provides you with specialized transactional tools to enhance your BTC use. A bitcoin payment gateway that is decentralized and permission-less.

    Is Blockonomics safe?

    Blockonomics is built on a P2P connection, making it safe and secure as it does not save your private keys. Users also prefer Blockonomics to other payment processing platforms due to its permission-less, peer-to-peer structure.

    How do I pay my bitcoin wallet?

    If an online merchant has the option of Bitcoin payments, you just need to copy their Bitcoin address and paste it into a designated field on your wallet. Type in the right amount of bitcoins into the payment box and click ‘send’.

    How can I check my Bitcoin balance?

    You can use Blockchain.info. Just paste the address you want to check into the Search input box and the website will show you all the transactions where that address was involved, as well as the balance.

    Who gets the money when you buy Bitcoin?

    A buyer and seller agree on a price and a trade is executed over an exchange. So our $50k investor buys that amount of bitcoins and the seller receives the $50k in the form of a cash deposit. That seller may now keep it in the bank, buy other cryptos or withdraw it and spend it in any way they choose.

    Can Bitcoin be converted to cash?

    There are several ways to convert bitcoin to cash and ultimately move it to a bank account: Sell bitcoin on a cryptocurrency exchange, such as Coinbase or Kraken. This is the easiest method if you want to sell bitcoin and withdraw the resulting cash directly to a bank account.

    Blockonomics—Conclusion

    Blockonomics is a platform that is a decentralized Bitcoin payment solution. Blockonomics provides you with specialized transactional tools to enhance your BTC use. It is a decentralized and permission-less bitcoin payment solution. Its services enhance the wallets you already own. Their aim is to accept bitcoin directly without any mediator and present an invoice anonymously. They are huge fans of decentralization and cryptography.