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Shiba Inu Now Available On Changelly

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Shiba Inu token (SHIB) termed “the dogecoin killer” has been listed on both Changelly and Changelly PRO.

It can now be exchanged with over 200 cryptocurrencies already available on the platform at floating rates. Additionally, the SHIB/BTC trading pair is now open for trading on Changelly PRO.

SHIB is the first cryptocurrency token listed on the decentralized exchange platform ShibaSwap. Nicknamed “the Dogecoin (DOGE) killer,” this ERC-20 token allows users to hold billions or even trillions of them. The creators talk about SHIB as an “experiment in decentralized spontaneous community building.” SHIB is based on Ethereum, a proof-of-work blockchain currently transitioning to a proof-of-stake model.

Shiba Inu invites dog-inspired artists worldwide to foster the “artistic Shiba movement” as they bring their Shiba Inu community into the nonfungible token market. Shiba Inu has also created a Shiba Inu dog rescue campaign utilizing AmazonSmile to collect and send donations to the Shiba Inu Rescue Association.

“We are happy to welcome to our platform a coin that has shown amazing growth lately. Now our users have access to even more meme coins, which hold great potential for its owners,” said Eric Benz, CEO of Changelly.

About Shiba Inu
Shiba Inu is a decentralized cryptocurrency created in August 2020 by an anonymous person known as “Ryoshi.” Shiba Inu is an ERC-20 token on the Ethereum blockchain and is based on Dogecoin, which brands itself “the Dogecoin killer.”

About Changelly
Changelly provides an ecosystem of products and services that enables customers to have a one-stop-shop experience when engaging with crypto. Operating since 2015, Changelly acts as an intermediary between crypto exchanges and users, offering access to over 160 cryptocurrencies that can be effortlessly swapped within 10 minutes on desktop and on the go via the Changelly mobile app.

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Bitcoin, Ethereum Hash Rate Slowly Recovers as Chinese Miners Redeploy Overseas

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The hashing power securing the world’s two largest blockchains is on track of a slow recovery, as some Chinese miners have gradually completed their relocation after the crackdown.

Based on The Block’s Dashboard, the seven-day moving average of Bitcoin’s hash rate has slowly climbed up to and remained at the 100 exahashes per second (EH/s) level over the past three weeks.

Following China’s crackdown on the bitcoin mining industry, power stations across multiple provinces have been ordered to suspend energy supply to mining facilities. Bitcoin’s hash rate initially plunged to below 90 EH/s, a level not seen since early 2020. With the slow recovery, bitcoin’s mining difficulty is expected to post a 4 percent growth in its next adjustment, after having recorded four consecutive drops since mid-May.

Although China’s initial crackdown comment specifically said it was about bitcoin mining, the shutdown orders that were eventually handed down locally also affected the mining farms that housed graphic cards and ASIC miners securing the Ethereum network. That situation sparked Ethereum miners to dump their used GPUs on the secondhand marketplace.

Similarly, the hash rate on Ethereum also took a hit by over 20 percent after China’s crackdown orders but has steadily recovered to above 500 terahashes per second.

The hash rate rebound suggests that at least some Chinese miners have completed their relocation process and subsequently plugged in.

For instance, Shenzhen-headquartered BIT Mining, previously known as online sports lottery firm 500.com, had over 50,000 bitcoin ASIC miners in Xinjiang and Qinghai as of April this year. It also owned two operational mining facilities in Sichuan.

After the crackdown, the New York Stock Exchange-listed bitcoin miner said it would ship 3,000 units to Kazakhstan by July. In a statement on Wednesday, BIT Mining said it has shipped and deployed 3,819 units of bitcoin mining equipment with a total hash rate of 172 PH/s at facilities in Kazakhstan. It announced earlier this week that it has completely exited its lottery business to focus entirely on mining.

“A further 4,033 bitcoin mining machines with a total hash rate capacity of 121 PH/s have been shipped to data centers in Kazakhstan and are awaiting deployment,” BIT Mining said. In addition, it has signed a purchase agreement to acquire 2,500 new bitcoin miners that are expected to be delivered within seven days and it plans to deploy them in Kazakhstan as well.

Apart from bitcoin mining equipment, BIT Mining has started Ethereum mining operations outside of China with 86.4 gigahashes per second (GH/s) deployed. “An additional hash rate capacity of 4,713.6 GH/s is expected to be deployed by the end of October 2021,” the firm said, which accounts for about 0.7 percent of the total hash rate on Ethereum.

BIT Mining purchased 2,000 Ethereum miners for $30 million in February that are due for shipment throughout this year.

Russia-headquartered colocation provider BitRiver told The Block that after China’s shutdown orders, it signed contracts with Chinese mining clients for a capacity of 150 megawatts, which are expected to go online in batches over the coming four months.

Taking a step back, BitRiver’s founder and CEO Igor Runets said with a worldwide supply crunch for bitcoin mining hosting capacity, it may take much longer for bitcoin’s hash rate to fully recover to the all-time-high 180 EH/s level.

Meanwhile, BIT Digital, another U.S.-listed bitcoin mining firm that previously had operations in China, is in the process of shipping over 14,500 units of bitcoin miners to the U.S.

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Burger King Accepts DOGE In Brazil

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Burger King is now accepting Dogecoin in Brazil… for something rather unexpected.

The fast-food chain says DOGE can be used to purchase Dogepper, a snack that has been purposely designed for four-legged friends.

Buying one of the dog treats will set you back 3 DOGE, which is worth about $0.62 at the time of writing.

All interested users need to do is check the availability of the dog treats in their region, select how much Dogepper they would want to purchase, transfer the DOGE to Burger King’s wallet, and get the delivery schedule.

Dogepper — which, of course, is named after the outlet’s Whopper burger — is meat flavored and can also be ordered alongside value meals.

An advertisement that’s doing the rounds in Brazil says: “What is the best way to pay for a product aimed at dogs? Obviously, Dogecoin.”

Dogecoin’s publicity stunts are nothing new, and the joke cryptocurrency has certainly gained a higher profile around the world thanks to endorsements from the likes of Tesla CEO Elon Musk.

Burger King plans to use a portion of the profits generated by the sale of Dogpper to support non-governmental organizations protecting animals — and the treats will be available for a limited time only.

The chain added: “We know that enjoying a Whopper in peace, in the comfort of your home, is not an easy task for a mother or father of a pet. But also, how can we blame them? The smell of grilled barbecue meat goes far and gives the dogs a stir.”

Burger King has dabbled briefly with Bitcoin payments in a number of countries where it operates — including Germany, Venezuela and Russia. However, in most cases, this has ended up being short lived.

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Binance Sets New Daily Withdrawal Limits, Rolls Out Tax Reporting Tool

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Binance, the world’s biggest cryptocurrency exchange by trading volumes, continues its efforts to maintain dialogue with global regulators by introducing withdrawal limits and a new tax reporting system.

On Tuesday, the company officially announced a major update to its Know Your Customer policies, significantly reducing maximum withdrawal amounts for users who have not completed full identity verification.

Effective immediately for new Binance accounts, users who have completed only basic account verifications will be unable to withdraw more than 0.06 Bitcoin (BTC) per day, worth roughly $2,400 at the time of writing. Previously, the maximum daily withdrawal amount was capped at 2 BTC, or about $80,000, Binance CEO Changpeng Zhao noted on Twitter.

According to the announcement, Binance will continue applying new withdrawal limits for existing users in phases starting from Aug. 4. The exchange expects to have adopted new withdrawal restrictions entirely by Aug. 23. Binance users who have completed full identity verification will be still able to withdraw up to 100 BTC in a day, or nearly $4 million at BTC prices at the time of writing. “Withdrawal limits refresh daily at 00:00 AM,” the announcement notes.

Binance also rolled out its new tax reporting tool. The reporting system is an Application Programming Interface that enables Binance users to track their crypto transactions, transfer their transaction history to third-party vendors, and obtain instant overviews of their local tax liabilities. The new initiative is part of the exchange’s broader strategy to expand user protection and risk management protocols.

According to Binance’s tax reporting instruction page, users can now select a third-party tax tool to transfer their transaction history. “Binance is not endorsing any particular third-party tax tool software. Please exercise your own discretion and/or consult your personal tax adviser based on your personal tax circumstances and requirements when selecting the third-party tax tools,” the exchange warned.

Binance did not immediately respond to a request for information on the usage of the new tool for Binance US users.

The news comes amid Binance aggressively adopting new trading restrictions in an apparent effort to respond to the ongoing global regulatory crackdown on the exchange. This week, the exchange delisted margin trading pairs for three fiat currencies, including the euro, the Australian dollar and the British pound sterling. Binance’s futures trading platform has also started reducing maximum leverage positions from 125x to 20x.

Zhao also hinted that he might be willing to step down as CEO should someone “with a strong regulatory background” be available. “There are no immediate plans to replace me as CEO,” he noted.

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