The Daily: Coinspot Launches OTC Desk, Bitdeer Expands in Eastern Europe

The Daily

Crypto exchange Coinspot has launched an over-the-counter trading desk in Australia and you’ll find more about the platform in this edition of The Daily. Elsewhere, computing power-sharing platform Bitdeer.com is focusing on Eastern Europe through a partnership with the largest digital asset trader in the region, Exmo. And in the U.S., expired Mccoins will get you a Big King.

Also read: Sapphire Develops GPU for Grin, TSMC Sees Drop in Mining Revenue

Crypto Exchange Coinspot Offers OTC Services to Australian Traders

Australian cryptocurrency exchange Coinspot has announced the launch of its dedicated over-the-counter (OTC) trading desk. The platform will be able to process high-volume transactions for its members without the need to use the traditional public order books.

The idea behind the project is to solve problems of liquidity for traders who want to deal in larger quantities. The company believes the OTC desk will reduce their exposure to fluctuations on the crypto markets. Lock-in pricing is expected to eliminate slippage and minimize the risks associated with high-volume trading.

Clients can now buy and sell a number of digital assets, including bitcoin core (BTC), bitcoin cash (BCH), ethereum (ETH), ripple (XRP), litecoin (LTC), and the stablecoin tether (USDT). Coinspot, which is among the leading crypto exchanges in Australia, promises access to the widest variety of digital coins in the country.

The main condition for using the service is that each trade should be valued at AUD $50,000 (USD ~$36,000) or more. A 0.1 percent fee is applicable to transactions on the platform. Coinspot’s OTC desk will offer its users the services of a professional trading broker.

Bitdeer Launches Russian Site, Partners With Exmo

Bitdeer.com has launched a Russian version of its website. The announcement comes with the news that the computing power-sharing platform has teamed up with Exmo, the largest digital asset trading platform in Eastern Europe. The partnership will allow Bitdeer and Exmo to provide their users with the opportunity to participate in cryptocurrency mining with no technical insight or investments in server infrastructure.

The two companies hope to popularize the minting of digital coins and contribute to the development of the crypto market. Offering new payment processing models and related customized products to the public is also part of their plans for the future.

Bitdeer CEO Celine Lu described the two initiatives as a milestone for the company’s venture in Eastern Europe. “Through the new partnership with the region’s largest crypto exchange and the launch of a localized website, Bitdeer.com has geared up to bring the best service to local as well as global individual miners,” Lu said, noting that around a third of the platform’s users come from Russian-speaking mining communities.

Despite the bearish trend in the crypto space, Bitdeer.com has seen its traffic reach over 1.2 million visits and over 50,000 daily active users. The platform has users from more than 165 countries. Over 40 percent of its orders have been placed by customers in the U.S.

Leading crypto companies such as Huobi and Binance have been taking steps to expand their presence on the Russian market, establishing offices in the country and offering Russian-language services. Crypto exchange Exmo enjoys growing popularity in the greater Russian-speaking world thanks to supporting trading pairs with local fiat currencies such as the Russian ruble and the Ukrainian hryvnia.

Burger Chains in Coin War

Maccoins, which were minted last summer to mark the 50th anniversary of the Big Mac and ride the wave of the crypto craze, have expired. Now a major competitor is making its own marketing stunt at the expense of McDonald’s “global currency.”

This week, fast food fans were invited to cash in their Maccoins at select Burger King locations in Chicago, U.S. media reported. Customers have been offered a free Big King XL in exchange for the tokens.

Burger King claims its new sandwich has 175 percent more beef than the Big Mac and comes without a third bun. Last year McDonald’s “limited edition” coins provided holders anywhere in the world with a free Big Mac.

What are your thoughts on today’s news tidbits? Tell us in the comments section.

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Published at Sun, 20 Jan 2019 11:35:21 +0000

October 31, 2017

Confideal – More Than Just the Sum of Its Parts

Confideal boasts a vibrant ecosystem where the core features of the integrated platform, such as smart contracts and arbitration, unite to form an application that is far more than just the sum of its parts.

[Note: This is a sponsored article.]

International trade has existed since ships first sailed upon the seas and caravans crossed mountains, but the increasing pace of technological innovation has led to a massive surge in international trade. Contracts and manufacturing details can be hammered out over video conference calls while documents can be digitally signed and sent across the world without a person having to move from their office desk.

Of course, this increased amount of trade can have potential headaches, especially if a dispute arises, which is where Confideal comes into play. Confideal is an integrated platform based upon the Ethereum blockchain that features an amazing ecosystem of core features that helps facilitate trade while reducing costs.

Three Core Pillars

The three core pillars of Confideal are: smart contracts, built-in arbitration, and CDL tokens. A number of platforms offer a single feature or two that international traders might be interested in, but Confideal is unique in that it has created a complete ecosystem composed of individual functions that come together into a harmonious whole.

Smart contracts have been revolutionary in matters of data management, and they offer a tremendous boon to businesses by creating a document that cannot be altered and is openly transparent. Many businesses have failed to take advantage of smart contracts due to the perceived need for programming knowledge and a dedicated online team, but Confideal allows for the creation of Ethereum-based smart contracts without the need for any coding.

Built into the smart contract is the arbitration feature of Confideal. The entity drawing up the contract selects an arbitrator to be used in case of a dispute arises. An important consideration is that all signatories to the smart contract have to agree to the chosen arbitrator.

Legal professionals and firms apply to Confideal, showing their qualifications and credentials, to become arbitrators on the platform. Arbitration takes one of two routes: both parties can agree to abide by the decision of the arbitrator or an arbitrator can come to a conclusion that can then be used in international courts of law for further enforcement.

The final core facet of Confideal is the CDL token, which is the main internal cryptocurrency for the platform. The token was created according to the ERC20 token standard on the Ethereum blockchain and has several uses on the integrated platform.

Bringing It All Together

Each Confideal’s three core features, when viewed independently of each other, is quite beneficial in regards to international trade. However, the symbiotic manner in which they all work together is breathtaking. The features weave together into an intricate dance that reinforce each other and make the overall ecosystem far stronger than each of the individual components.

Merchants can use CDL tokens to generate smart contracts and act as currency for the payment of the contract, which negates the standard 1% fee. These tokens can also be freely exchanged for other ERC20 tokens.

The smart contract, standing alone, is an amazing innovation for trade, but the inclusion of arbitration takes the smart contract to an entirely new level. Merchants not only have a codified document that spells out the conditions of the deal, not to mention the funds held in escrow and that the contract is unable to be illegally modified, but an automatic means for resolving a disagreement that all parties have already agreed upon has been put into place.

The dance between arbitrators and CDL tokens continues in the fact that token holders have a number of votes, based upon the number of tokens held, that can be cast to rank specific arbitrators. Every ten tokens equals one vote, so token holders have the right to directly influence the arbitration aspect of Confideal. However, this influence is not absolute as the smart contract that details the arbitrator has to be agreed upon by all interested parties. Then there’s the fact that arbitrators have no details on the principals of the smart contract, so there’s no undue influence of favoring a side that has given votes to that particular arbitrator.

Each of the core features of Confideal is of great use to merchants, but it’s the combination of all three elements (smart contracts, tokens, and arbitrators) into a cohesive whole that makes the integrated platform far greater than the sum of its parts. Each facet of Confideal reinforces the others, making them stronger and better than they would be on their own. Tokens can be used as payment and to rank arbitrators whilst arbitration is hardwired into the smart contracts that serve as the foundation of the platform. In the end, merchants and arbitrators are united together into working for smooth and seamless international trade just as the distinct features of Confideal are united together to facilitate such endeavors.

Images courtesy of Pixabay, Pexels, and Pxhere.

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