1.2 Million Canadians Introduced to No-Fee Crypto Trading

Canadian Coinberry and Swiss-based BRD announced a partnership, which is set to introduce 1.2 million BRD customers to crypto trading.

New Crypto Trading Platforms Streaming Into the Market

Trading bitcoins and other cryptocurrencies continues to attract investors. For instance, despite a bear market, cryptocurrency trading platforms are still being added to the market. On August 15, 2018, Coinberry and BRD announced a partnership “which will introduce 1.2 million BRD customers to the Canadian crypto trading platform.”

BRD claims to have been the first cryptocurrency app available in the iOS space. According to the announcement:

Now available via iPhone and Android apps, BRD has customers in 150 countries, and its non-custodial wallet protects approximately 8 billion USD. The partnership between the two companies will introduce BRD’s community of 1.2 million users to Coinberry’s platform.

Coinberry recently became the first federally-registered Canadian company to offer its customers commission-free Bitcoin and Ethereum trading. Additionally, its website advertises that, by using proprietary algorithms and trusted global exchanges, Coinberry can find its customers the best bitcoin and ether rates.

BRD (formerly Bread wallet) has been continuously expanding its services. In April 2018, under a project code-named Augustus, BRD transformed its platform from a simple Bitcoin wallet to a decentralized financial services platform. As a result, BRD users can store and trade the top 100 most popular ERC-20 tokens.

Regarding BRD’s enhanced wallet functionalities, Andrei Polikov, President of Coinberry, declared:

BRD is both a pioneer and technology leader in cryptocurrency, and we are very excited to join forces. BRD’s wallet has all functionality a crypto user could want, and we expect BRD’s community will enjoy taking advantage of Coinberry’s great rates on crypto.

More Options Available for No-Fee Crypto Trading

Because it was previously possible to trade with zero fees on Chinese exchanges, Bitcoin was the darling of traders — specifically, high-frequency traders.

In January 2017, a Bloomberg article entitled “High-Speed Traders Are Taking Over Bitcoin” reported that specialists equipped with the latest technology were executing about 80 percent of Bitcoin trading,

With volumes tracked by Bitcoinity.org surging to a record this month, there’s been no shortage of chances for high-speed traders to turn a profit.

However, Bitcoin trading volumes significantly declined when Chinese exchanges started charging a 0.2 percent fixed trading fee, starting on January 24, 2017.

Since then, Bitcoin has become a more mainstream asset in the financial markets. This status, coupled with the fact that an increasing number of commission-free trading platforms are continually streaming into the market, could result in investors renewing their enthusiasm for Bitcoin trading.

What are your thoughts about Coinberry and BRD? Let us know in the comments below. 

Images courtesy of Twitter/@coinberryio, BRD.

IoT Crypto VeChain Price Surges 50% Overnight, Factors Behind the Spike

vechain price lighting a match

VeChain, a China-based Internet of Things (IoT)-focused crypto, has surged by more than 50 percent in value within the past 24 hours.

Analysts have attributed the increase in the price of VeChain to the successful series of partnerships the team has been able to secure since earlier this year and the improving momentum of tokens in the global cryptocurrency market.

Major Partnerships

vechain priceVeChain/USD | Source: TradingView

In May, CCN reported that Pricewaterhousecoopers, a “Big Four” auditor better known as PwC, acquired stake in the Chinese cryptocurrency with the intent of utilizing the VeChain IoT network to serve multi-billion dollar clients and conglomerates that rely on the services of PwC.

At the time, Raymund Chao, the chairman of PwC Asia Pacific and Greater China, said:

“We are glad to establish a deeper relationship with VeChain, which aims to build a trusted and distributed business ecosystem to help address long-standing challenges in supply chain management, food trust and anti-counterfeiting areas. VeChain’s mission aligns with PwC’s purpose of solving important problems and building trust in society.”

The involvement of PwC has been crucial for VeChain’s performance over the past three months because it meant large-scale conglomerates have to started to demonstrate interest in the VeChain blockchain protocol.

The strategic partnership between PwC and VeChain in May was especially valuable because PwC acquired a small ownership interest in the VeChain network, with the plan of collaborating with the VeChain development team as an investor, not as a client.

It is important to acknowledge the participation of PwC in the long-term growth of VeChain because the vast majority of partnerships secured by blockchain projects in the cryptocurrency sector are often deals that state multi-billion dollar conglomerates as the beneficiaries.

For instance, many projects have claimed to have secured strategic partnerships with major firms in the technology sector such as Google and Microsoft, but the actual nature of the deal revolved around the projects paying the conglomerates for their services, not the other way around.

Since May, VeChain has aggressively expanded its services internationally, winning a contract with the government of China to develop a vaccine tracing solution.

Despite the Chinese government’s ban on cryptocurrency trading, it has allocated more than $3 billion in 2018 alone to state-funded blockchain funds, primarily to finance blockchain startups and innovative technologies.

This month, China’s Ministry of Information Technology ordered local financial authorities and agencies to speed up the development and commercial implementation of the blockchain, which will positively impact companies like VeChain that are actively cooperating with the Chinese government.

“The industry remains in a nascent stage. While the technology has brought benefits, it could also bring risks such as technical loopholes, and challenges to current systems and norms, the ministry said. The ministry also said it will work with local authorities to push for healthy and orderly development of the industry,” the report of Xinhua, a state-owned publication, read.

Other Factors

The abrupt price surge of VeChain was evidently fueled by the general recovery of the cryptocurrency market and the re-established momentum of tokens. But, the valuable partnerships the company has been able to secure since early 2018 drove its recent momentum and will likely continue to positive impact its long-term growth.

Featured Image from Shutterstock

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Huge Chinese Retailer Launches Open Blockchain Platform

One of China’s largest retailers, JD.com, is launching a blockchain platform. The idea behind the JD Blockchain Open Platform is to allow the company’s enterprise customers to develop their own applications based on the innovative and disruptive technology.JD.com Hopes to Encourage Innovation with New PlatformThe goal of the JD.com’s new platform is to provide the company’s business customers with a framework to develop their own smart contract-based systems. These will be hosted on public and private enterprise clouds. JD.com’s customers will be able to create and fine tune their own smart contract applications in line with their specific needs, according to a blog entry posted earlier today.The post goes on to state that the JD Blockchain Open Platform is built on “multiple underlying technologies”. The hope is that by using these technologies, JD.com’s clients will be able to streamline vital operational procedures. These include tracing the movement or goods, verifying the authenticity of goods, assessing ownership, settling transactions, and providing digital copyright.JD.com believes that these functions will enhance the overall productivity of their enterprise customers, as well as providing greater transparency, trust, and convenience. The functionality of the platform will be similar to Amazon’s blockchain templates that we reported on in April of this year.JD Blockchain Open Platform represents the latest step by the massive Chinese retailer towards providing technological solutions to various issues that face traditional industries. The firm calls the strategy Retail as a Service (RaaS).Clients of JD.com will benefit from the JD Open Platform’s “one-click deployment.” It is hoped that by simplifying the process as much as possible, JD.com will be able to help even those companies that lack detailed knowledge of blockchain technology, yet want to take advantage of its disruptive potential.The platform itself will also feature an application store that will provide various blockchain tools or software features for use by JD.com’s enterprise customers. These have been designed through collaboration between in-house developers, as well as Independent Software Vendors. JD.com also aim to continuously improve the application store by recruiting new software vendors and creating a vibrant community for those vendors working on the platform.All additions to the application store will undergo a stringent quality assessment program before being listed. It is hoped that such high standards will encourage customers to trust the service, which will in turn lead to a much more vibrant ecosystem of business-grade applications that are entirely customisable to each client’s specific needs.JD.com’s head of big data and smart supply chains, Jian Pei, is quoted as stating the following about the development of the platform:“JD Blockchain Open Platform is a culmination of the expertise and experience in blockchain technology that we initially developed for our own operations, to provide more visibility to consumers.” Image from Shutterstock