Why is Crypto Space Referred to as the Wild West?

Bitcoin and cryptocurrencies have become a $2 trillion asset class in a little over a decade, showing that they hold the potential to disrupt the legacy banking system.  However, cryptocurrencies can't seem to shake their reputation as the "wild west," a lawless space riddled with scams that lacks any regulatory oversight.   That said, things could soon change as a growing appetite from institutional investors applies pressure on regulators to accept crypto as a viable financial system. This guide examines why…

Crypto in Germany Goes Mainstream Following the Enactment of ‘Spezialfonds’ Law

Germany has recently enacted groundbreaking legislation that observers say has the potential of mainstreaming crypto investments. The law that had been in the works since April this year came into force on July 1, 2021. It allows select institutional funds to allocate part of their portfolio to digital assets. In the law targeting the 'Spezialfonds,' firms can structure their capital to include an up to 20 % allocation in crypto. Currently, the special funds manage assets worth approximately $2.1 Trillion.…

Comparison of Crypto Lending and Bank Loans; Which One’s Better?

Banks have for years been in the financial industry and are considered the backbone of the financial world. Banking networks have been providing a vast array of services, including lending, saving, and borrowing. However, this guide will focus more on the lending part of banking systems. Lending involves allowing others to get money but sign an agreement of future payment of the lent sum. The interactions between the parties involved in a lending contract and the interest rates involved will…

Why The Government’s Approval Could Be What Crypto Needs to Reach Mainstream Adoption

In 2021, The El Salvador president proposed accepting Bitcoin as a legal tender in the country. The bill targeted the introduction of Bitcoin as a legal currency to be used in everyday activities. Later in June, it passed the law in the Salvadoran Congress, where 62 out of 84 members voted for the bill.  The news of El Salvador using crypto trended for over one week, sparking other countries like Paraguay to follow the course. Although Paraguay's plan is not…

Why is it a Bad Idea For China to Ban Operations of Other Crypto Assets

Government and monetary bodies in China continue to oppose the existing cryptocurrencies in the market, dismissing them as any form of legal tender. The crypto restrictions came into the spotlight in 2013 when China's Central Bank blocked financial institutions from conducting any Bitcoin transactions.  Trading platforms, exchanges, and ICOs followed suit as China prohibited any conversion and fundraising activities in 2017. According to the Chinese regulators, ICOs and crypto transactions are closely related to frequent fraudulent activities. As a result,…

Gemini Launches a New Way to Earn Interest on Crypto Assets

Gemini, founded by Tyler and Cameron Winklevoss, announced its interest-earning program, Gemini Earn, which enables customers to earn up to 7.4 percent APY. The program will be available in all 50 US states and let users buy, spend, store and make interest on more than 26 cryptocurrencies under one platform. Customers can transfer their crypto holdings or easily purchase crypto to move into Gemini Earn and earn interest for any period. Additionally, they can also redeem their crypto at any…

European Central Bank Report Claims Crypto-Assets Pose Financial Risks

A financial report published today by the European Central Bank (ECB) claims that cryptocurrency assets pose significant financial risks. The report written by ECB President Christine Lagarde focused on the future of money within the European Union. Lagarde highlighted the historical value of money from early times when physical commodities backed money to the current fiat monetary system. She acknowledged that the current technological innovation means that the financial landscape is moving towards digitalization. This trend was further accelerated by…

NBA Legend Joins Crypto-asset Broker Voyager Digital as Advisor

Crypto-asset brokerage Voyager Digital has announced the addition of NBA Legend Tracy McGrady to its team in a press release today. McGrady to promote Voyager McGrady will take the role of advisor and help educate investors on the services offered by Voyager. He will also take part in a giveaway promotion that will be offering a total of $2 million to the general public. New accounts that register under this promotion will be eligible for a $5 bonus. Commenting on the…