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Tesla to accept Dogecoin?

Posted on by Bob Coiney

While cryptocurrencies are soaring high with new functionalities, altcoins are not far behind. Altcoin Dogecoin has especially been in the news these last few days. Dogecoin, which is a meme-inspired altcoin, has seen a sudden surge in popularity. This popularity is significantly contributed by Elon Musk, a man with several credentials to his name. 

There are several factors in action here that are making the Dogecoin talk of the crypto coin. From Elon Musk and other digital top-league influencers to SpaceX being paid in full in Dogecoin for its next payload mission, Dogecoin has seen quite a rush. 

Tweets from Mark Cuban and Elon Musk

Recently Mark Cuban and Elon Musk tweeted about Dogecoin that boosted its popularity and price by 20% in a day. Little did we know this tweet was just a pretext to what Elon Musk was actually planning about his companies and Dogecoin. 

Apart from Elon Musk, Mark Cuban and Vlad Tenev also tweeted about altcoin, which significantly contributed to its popularity gain. 

Elon Musk plans to put Dogecoin on Moon

Soon after the first tweet, Elon Musk put another tweet on April 1st hinting at SpaceX’s plan to put ‘literal Dogecoin on the literal moon’. 

However, the buzz died quickly as we did not see any follow-up since the tweet until May 10th, when he announced that SpaceX would be paid in full using Dogecoin for its next payload mission. This tweet was widely appreciated all over the crypto community as it marks the worldwide involvement and acceptance of cryptocurrencies in the economic sector. 

Dogecoin to be included in Tesla?

After SpaceX, Elon Musk hints at a collaboration between Tesla and Dogecoin with his latest poll on Twitter. Today, he tweeted a poll asking, “Do you want Tesla to accept Doge?”

This tweet instantly became viral, with over 76% of people voting yes.

Does this mean that Tesla will soon include Dogecoin in its everyday transactions and financial services? Well, we cannot say anything for sure, but seeing the subtle but exponential involvement of Dogecoin and Elon Musk, it might be safe to say that Tesla and Elon Musk have something exciting for us in the store. 

Binance on a mission to bridge the gap between physical stocks and crypto

Posted on by Bob Coiney

Trading in stocks and paying for it through cryptocurrency is the newest trend in DeFi. With this trend started by Terra Lab’s Mirror Protocol in December, Binance is the latest entrant in this genre that has come up with a better adaptation of Mirror’s concept.

Mirror Protocol launched its tokenized stock where it used synthetic stocks that are a tokenized representation of physical stocks. However, Binance has built on the idea and launched something more substantial in zero commission ‘tokenized stocks’. These tokens are “backed by a depository portfolio of underlying securities” associated with a German investment firm.

Binance has associated with Elon Musk’s Tesla to launch its first equity. Tesla is one of the companies that have a substantial amount of cryptocurrencies to show in its financials. Even Elon Musk has taken to Twitter numerous times to show his support for this ever-growing technology-backed asset class.

http://https://twitter.com/binance/status/1381570383896252416?s=20

Binance users will be able to acquire parts of Tesla shares to a fraction as small as one-hundredth of the Tesla share by settling the trade-in Binance USD or BUSD. Putting its users’ and investors’ worries at rest, companies shared that the tokenized stockholders will also receive dividends on the shares making this new concept an instant hit.

In the latest announcement, Binance and Coinbase, two of the biggest names in the crypto world have announced the launch of  COIN/BUSD trading pair allowing users to trade in marginal shares of Coinbase.

In an official statement, Binance mentions,” Binance will list the Coinbase Stock Token (COIN) following Coinbase’s official listing on NASDAQ.”

http://https://twitter.com/cz_binance/status/1382208866402803713?s=20

Binance also adds, “Binance will continue to respond to market demand by listing more stock tokens and features. Trading of stock tokens will follow traditional exchange hours and is not available for residents in Mainland China, Turkey, and other restricted jurisdictions.”

Highlights:

  • Binance has announced the launch of COIN/BUSD trading pair for its exchange users allowing them to trade in fractions of COIN equity.
  • Binance had earlier launched Tesla’s tokenized stock enabling its users to trade in one-hundredth share of Tesla’s stock.
  • Traditional trading hours to be followed for tokenized stocks.
  • This new asset class is not available for residents of Mainland China, Turkey, and other restricted jurisdictions.

SpaceX CEO Elon Musk Gives Brutal Thoughts on Cryptocurrency Wallets

Posted on by Bob Coiney

On Wednesday, tech billionaire Elon Musk issued short shrift to Freewallet. The Tesla CEO wasn’t too impressed with cryptocurrency wallet provider using Musk’s tweet to promote its services. 

A news post on cryptoglobe stated that Elon Musk fought back at Freewallet after tweeting about his favorite bitcoin, DOGE. The Tesla CEO and billionaire said that the app sucks. Elon Musk added that users must be cautious about using crypto-wallets.

Musk feels that these crypto wallets do not provide them with access to their private keys. The SpaceX CEO followed the tweet with Chuck Norris image of claiming the actor can take away his bitcoin.

Elon Musk had tweeted Chuck Norris’s picture with a thumbs up, saying this is true power. 

Elon Musk refers to Mt. Gox in the tweet to reference to the unfortunate hack where more than 70000 users had their bitcoin taken away. It amounted to nearly $450 million. Security experts in the cryptocurrency claim to store holdings in secure wallets without third-party providers.

Musk also tweeted that he was having a lot of trouble accessing the app. Hence he tweeted that the app sucks. Elon Musk, the founder of SpaceX, wanted to make his views and thoughts on crypto wallets very clear. 

Musk pointed out that bitcoin influencer Andreas M. Antonopoulos has warned on the importance of investors using private keys for their wallets. Over the last month, Musk has said that his tweets should not be taken seriously. 

The Tesla CEO finds DOGE exciting concept and firmly believes that Dogecoin has the potential of becoming the future currency of earth. Elon Musk, over the last month, Elon Musk has been actively promoting DOGE, which is his favorite cryptocurrency. 

Last week, the SpaceX founder even changed his Twitter bio to bitcoin, causing a frenzy in the market. On Monday, the carmaker Tesla astounded the world, saying that they have purchased $1.5 billion in BTC. 

Today, the cryptocurrency is hovering close to the $50000 mark, courtesy of that. For now, this is a clear indication that the tech billionaire is not a fan of cryptocurrency wallets. 

Interested Parties Can Now Purchase Tokenized Tesla Stock from Bittrex

Posted on by Bob Coiney

Traders who are keen on purchasing tokenized Tesla stock from Bittrex can do so from now onwards. Additionally, users and traders can buy shares of Google, Apple, and others on the Bermuda exchange.

A news post on Decrypt which is a crypto exchange is going to list several tokenized stocks on their platform. This is in partnership with DigitalAssets.AG. Investors and users can now invest in the listed companies without having to pay additional fees. 

Traders do not have to make use of a traditional brokerage to do so subsequently. The stocks that are tokenized are the latest in the cryptocurrency market. They are a sign of things to come. These stocks are traditional securities, in which public shares from the companies get traded using a regulated exchange. 

It was not provided earlier to users and traders. Thanks to the developments in representing values on the digital token, these steps were possible. Kryptodragon7, a crypto enthusiast and an investor, had this to tweet on the development. 

https://twitter.com/kryptodragon7/status/1336228498600583168?s=20  

Tom Albright, CEO of Bittrex, said that the technology used in the blockchain world is immensely capable of providing what the financial sector wants. Bittrex Global wants to perform their duties fully to ensure that traders get their fair share. 

They are able to make capital and garner wealth possible easily. According to the statement of the company, 12 running shares will now be listed on Bittrex, that include Tesla, Google, SPY, and Facebook. 

The exchange-traded fund consists of some of the top companies operating in America. Hence, users can purchase shares using US dollars, Bitcoin, and Tether. They will be provided shares round the clock.

Besides, users can purchase a fraction of a cryptocurrency. Traders can buy $10 shares as tokenized stock. However, if market liquidity occurs, where sellers and buyers can trade the asset at a specific time could vary on the time of the trading day. 

Bittrex claims that they plan to increase tokenized offerings and financial products like indices, ETFs, and asset classes, in the near future. This step has been a long time due to the crypto market. 

People familiar with the matter said that it was only a matter of time before exchanges issued famous companies’ tokens. This ensures that traders who invest can earn more cash through it. 

Bittrex now joins crypto exchanges Bitfinex and FTX, who started their own tokenized stocks earlier in 2020.