Cryptocurrency

Top 10 Staking Cryptocurrencies For Indian Investors In 2023

Published

1 week ago

March 15, 2023

Aiswarya PM

The top 10 staking Cryptocurrencies for Indian investors in 2023, one way for users to earn passive income

Intro

Staking cryptocurrency is a great way for users to earn passive income. While it does not eliminate market volatility, it does allow users to constantly accumulate more cryptocurrency without investing money. Thus, there is a high demand for staking Cryptocurrencies for Indian investors as these currencies are strong contenders for staking coins in 2023 and beyond.

Cryptocurrency is a type of digital currency that can be used to buy goods and services without using physical bills or coins. As a digital currency, cryptocurrency is a highly volatile asset with erratic price fluctuations. There are thousands of cryptocurrencies to choose from, ranging from Bitcoin to Litecoin. Staking cryptocurrency, like investing in cryptocurrencies, necessitates some research. Users interested in Staking coins should look beyond the current taking returns and consider whether a long-term value is conceivable. More Indians, approximately 97.5 million people have already invested in cryptocurrency and considered it a viable option for digital currency investing and trading.

CoinDCX

CoinDCX, founded in 2018 and headquartered in Singapore, is one of India’s largest and most popular crypto exchanges, and provides users with access to a wide range of digital assets and features, including margin trading, staking rewards, and spot trading services. It also provides a mobile app to assist users in managing their portfolios and staying current on market conditions.

WazirX

Wazirx, founded in 2018, is India’s first and largest peer-to-peer cryptocurrency exchange, allowing users to buy and sell cryptocurrencies without the involvement of a middleman. This app features lightning-fast Know Your Customer and high-security standards. Wazirx, according to its website, is “investing in regular security audits to ensure a highly secured trading platform.”

Bitbns

Bitbns, the first Indian cryptocurrency exchange, was founded in 2017 and provides its users with numerous features such as margin trading, zero fees on deposits and withdrawals, an intuitive trading interface, and more. They provide users with access to over 392 different digital assets, as well as fiat-crypto and margin trading services. Bitbns also has a mobile app that allows users to manage their portfolios while on the go.

Unocoin

Unocoin is one of India’s oldest, most trusted, and most widely used cryptocurrency exchanges. It was founded in 2013, in which users can take advantage of features such as spot trading services, wallet management tools, and others. Furthermore, they maintain an active presence in India’s crypto community by organizing various events, expanding their product offerings, and providing educational courses for those who are new to crypto.

ZebPay

ZebPay is one of India’s most popular cryptocurrency exchanges. Founded in 2014, ZebPay was the first exchange to provide its users with services such as zero fees on deposits and withdrawals, an easy-to-use trading interface, and more. It provides users with access to over 150 different digital assets, including Bitcoin, Ethereum, Ripple, and Litecoin. ZebPay also has a mobile app that allows users to manage their portfolios while on the go.

BuyUcoin

BuyUcoin is India’s leading cryptocurrency exchange which was founded in 2016. This user-friendly platform is one of India’s newer cryptocurrency exchanges, providing users with access to more than 130 digital assets, including Bitcoin, Ethereum, Ripple, and Litecoin. BuyUcoin also has a mobile app that allows you to manage your portfolio while on the go.

Giottus

Giottus is an Indian cryptocurrency exchange that is still in its early stages. Founded in 2019, Giottus has quickly risen to the top ten exchanges in India due to its low fees and advanced features. It provides users with access to more than 120 digital assets, including Bitcoin, Ethereum, Ripple, and Litecoin. Giottus also has a mobile app that allows users to manage their portfolios.

BitBuddy

BitBuddy is India’s leading cryptocurrency exchange. BitBuddy, which was founded in 2018, has quickly become one of the most popular exchanges in India due to its advanced features and customer-centric approach. BitBuddy charges a 0.3% trading fee on all trades, making it one of India’s most affordable exchanges.

Krypto

Krypto is an exchange and payment platform for cryptocurrencies. Users can use the platform to buy, sell, trade, and pay with cryptocurrency to anyone, anywhere, and at any time. Krypto aspires to be a one-stop shop for all of its customers’ crypto needs. The platform intends to disrupt the crypto trading industry by making the buying, selling, and sending of cryptocurrency quick, simple, and risk-free.

Colodax

COLODAX is a cryptocurrency exchange platform. It provides brokerage services to help with trading activities and allows users to buy and sell various crypto assets such as bitcoin, Ethereum, and ripple. It also provides transaction history details, market analysis insights, and current pricing lists to the trader. The app is available for iOS and Android devices.

The post Top 10 Staking Cryptocurrencies for Indian Investors in 2023 appeared first on Analytics Insight.

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Explosive Allegations: Hindenburg Research Accuses Jack Dorsey’s Block of Enabling Fraud Through Cash App’s Illicit Activities

Published

9 hours ago

March 23, 2023

Sohrab Khawas

Explosive Allegations: Hindenburg Research Accuses Jack Dorsey’s Block of Enabling Fraud Through Cash App’s Illicit Activities

Yet again Hindenburg Research’s new revelation has shocked the cryptocurrency market. According to a report published on Thursday by the investment research firm, Jack Dorsey’s digital payments startup Block has engaged in a massive fraud. After the Adani fiasco, it has now published a report alleging that Block Inc. has knowingly assisted fraud against customers and governments.

Block, formerly known as Square, is a ~$44 billion market cap company that claims to have developed a “frictionless” and “magical” financial technology with a mission to empower the “unbanked” and the “underbanked”. $SQ
(2/n) pic.twitter.com/NmL0f2MzgW

— Hindenburg Research (@HindenburgRes) March 23, 2023

Block was established in 2009 by Jim McKelvey and Dorsey. From November 2015, it has been traded as a public corporation on the New York Stock Exchange (NYSE) under the ticker code SQ.

Hindenburg, in its blog said, “Our 2-year investigation has concluded that Block has systematically taken advantage of the demographics it claims to be helping. The “magic” behind Block’s business has not been disruptive innovation, but rather the company’s willingness to facilitate fraud against consumers and the government, avoid regulation, dress up predatory loans and fees as revolutionary technology, and mislead investors with inflated metrics.”

The share price of Block decreased 20% after the report’s release, reaching $57.85 in premarket trading. Market analysts predict a further loss of 40–50% over the next few days if Block is unable to make any convincing defenses against the allegations. It will be interesting to see how Block shares respond to this new report from Hindenburg, especially in light of how severely Adani shares were impacted following the Hindenburg report.

Allegations against Cash App

Hindenburg Research claims that Cash App, which was co-founded by Dorsey, rejected warnings from the Secret Service, the US Department of Labor, and many state agencies, as well as internal employee concerns.

The report asserted that the Cash app is often used for illegal purposes by citing the nonprofit Polaris Project. These allegations have been refuted by Cash App, which also said that it rejects any payments connected to illegal activity.

“There are dozens of ‘Elon Musk’ and ‘Donald Trump’ fake accounts as well. A search for Cash App account holders with the name “Jack Dorsey” turns up numerous accounts, including a number with “cash tags” that could be used to mislead and scam other users,” the report said.

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Crypto news

Coinbase Vs. SEC: Who Shall Prevail In The Battle For Crypto Clarity?

Published

11 hours ago

March 23, 2023

Elena R

Coinbase Vs. SEC: Who Shall Prevail In The Battle For Crypto Clarity?

Coinbase CEO Brian Armstrong’s recent comments comparing the Securities and Exchange Commission (SEC) to “soccer refs” in a game of pickleball have caused quite a stir in the crypto community. The remarks come after the SEC issued a Wells Notice to Coinbase, which usually precedes an enforcement action.

Imagine you’ve got both football and soccer refs on the field, but we’re actually playing pickleball (fastest growing new sport in America). The refs can’t really agree on the rules of this new game, and one of them decides to change a call they made back in April 2021.
— Brian Armstrong (@brian_armstrong) March 22, 2023

Lack of regulatory clarity to blame

Armstrong has been vocal about the lack of clarity from US regulators when it comes to crypto regulation. He has argued that the SEC has not been fair, reasonable, or even demonstrated a seriousness of purpose in its engagement with digital assets.

This sentiment is reflected in a recent tweet by Coinbase’s Chief Legal Officer, Paul Grewal, who claimed that the SEC provided “no clear rule book” on crypto regulations and that efforts to engage with the SEC are met with silence or enforcement actions

The truth is that today there is no clear rule book from the SEC on crypto, and efforts to engage with the SEC are met with silence or enforcement actions. They have not followed a good faith rulemaking process with industry, as required under the APA. 10/15
— paulgrewal.eth (@iampaulgrewal) March 22, 2023

Crypto community rallies behind Coinbase

The crypto community has widely condemned the SEC’s recent actions against Coinbase, with many agreeing that the regulator has reversed its earlier position regarding the exchange. There is a growing sense that the SEC is failing to provide the clarity and consistency that the industry needs to thrive. Many have thrown their support behind Coinbase, with some suggesting that the firm is fighting on behalf of the entire US crypto industry.

They argue that an unclear regulatory environment is driving activity offshore and that greater clarity is needed to ensure that the U.S. remains competitive in the rapidly growing crypto market.

Netizens Supports Coinbase

According to Jake Chervinsky, Chief Policy officer of the Blockchain Association, Coinbase has put in a lot of effort to obtain regulatory clarity from the SEC. However, the SEC has given Coinbase a Wells notice, which is disappointing but expected from an agency that primarily regulates through enforcement.

Fortunately, Coinbase is prepared to fight back and has a strong legal position. It’s important to remember that the SEC only makes allegations and doesn’t create laws. Ultimately, the courts will determine if the SEC’s allegations are accurate, and in this case, the SEC may be incorrect.

Coinbase has spent an extraordinary amount of time and resources working in good faith to seek regulatory clarity from the SEC.
The idea that they’d be rewarded with nothing but a Wells notice is sad, but not surprising from an agency best known for regulating by enforcement. https://t.co/BZ4a9AefEF

— Jake Chervinsky (@jchervinsky) March 22, 2023

Tony Edward, The host of Thinking Crypto Podcast, alleges that the regulator, Gary Gensler, is corrupt and had meetings with Sam Bankman-Fried and FTX officials multiple times, with the intention of creating a monopoly despite the ongoing fraud. He also claims that despite the SEC approving Coinbase’s public listing, they are now attacking the company.

Remember folks, corrupt regulator @GaryGensler had Sam Bankman-Fried and FTX officials in his office multiple times and was about to make them a monopoly despite the massive fraud that was happening.
The SEC green lighted Coinbase going public and is now attacking them.…

— Tony Edward (Thinking Crypto Podcast) (@ThinkingCrypto1) March 23, 2023
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Justin Sun was also charged with fraud and selling unregistered securities by SEC. However, in a recent tweet, he expressed confidence that the SEC’s legal complaint against his company lacks merit. He revealed that despite the legal hurdle, his company is still focused on building a decentralized financial system.

Furthermore, he acknowledges that the digital assets’ regulatory framework is still in its early stages and needs development. His company is willing to work with governments and regulatory bodies to establish clear guidelines for the crypto industry. Interestingly, Dominica recently adopted TRX and BTT as legal tender, indicating the growing significance of cryptocurrency.

The SEC’s civil complaint earlier today is just the latest example of actions it has taken against well known players in the blockchain and crypto space. We believe the complaint lacks merit, and in the meantime will continue building the most decentralized financial system.
— H.E. Justin Sun 孙宇晨 (@justinsuntron) March 23, 2023

With the SEC breathing down their necks, Coinbase is prepared to go all out in their legal battle. The crypto community has rallied behind them, with many pointing out the regulatory inconsistencies hurting the US crypto market.

Despite this lack of clarity, Coinbase remains determined to see the industry thrive and is open to collaborating with regulators to create clear guidelines. The stakes are high, but Coinbase is ready to take on the challenge and defend its position.

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Elena R

Elena is an expert in technical analysis and risk management in cryptocurrency market. She has 10+year experience in writing – accordingly she is avid journalists with a passion towards researching new insights coming into crypto erena.

Crypto news

Hindenburg Research Hints at Another ‘Big and Huge’ Report After the Adani Fiasco

Published

12 hours ago

March 23, 2023

Sohrab Khawas

Hindenburg Research Hints at Another ‘Big and Huge’ Report After the Adani Fiasco

The US-based short seller Hindenburg Research, which had previously published a report flagging the Adani group for manipulating the stock market and using unlawful offshore tax havens, announced on Thursday that it will shortly publish new research. The new report is expected to be “another huge one,” and the short-seller withheld any other information.

Taking to Twitter, they wrote, “New report soon—another big one.” As Hindenburg hinted in a new major report, banking stocks are already under pressure from the US financial crisis and the 25 basis point Fed rate hike.

New report soon—another big one.
— Hindenburg Research (@HindenburgRes) March 22, 2023

A few weeks ago, in a report dated January 24, the US short-seller accused the Adani group of “brazen stock manipulation and accounting fraud” and of employing several offshore shell firms to manipulate stock prices. The Gautam Adani-led group was the target of various other accusations in the report.

The company is said to have “substantial debt,” which involves pledging shares as collateral for loans, according to the report, and it added that the group’s auditor “hardly seems capable of complex audit work.”

The Adani group replied to the allegations in 413 pages and a part of their reply read, “ The document is a malicious combination of selective misinformation and concealed facts relating to baseless and discredited allegations to drive an ulterior motive. This is rife with conflict of interest and intended only to create a false market in securities to enable Hindenburg, an admitted short seller, to book massive financial gain through wrongful means at the cost of countless investors.”

This update comes at a time when the bank runs, regulators backlash and the fed’s interest hikes have gripped the economy. The crypto-focused bank, Silvergate Capital first announced insolvency, and then Silicon Valley Bank began scaring investors and account holders. However, then the regulators then took control and the rest is history.