Tron casino sites enable users to play games and place bets using the Tron (TRX) cryptocurrency. Such gambling sites also accept a wide variety of other cryptocurrencies as a means of funding and withdrawal, while some also allow fiat currencies.

Tron gambling sites have grown significantly in number in recent years as Tron has become a more popular cryptocurrency, with its blockchain second to only Ethereum’s in terms of total value locked in, at $8.2 billion. These sites have capitalized on Tron’s growth and tapped into a market that demands crypto-funded gambling, providing classic casino games in addition to slots, sports betting, and sometimes lotteries.

But picking the right casino site is still a task, considering there are hundreds of options. Therefore, our team at Coinfomania has reviewed and listed the best ones in terms of their features, bonuses, reliability, and other criteria.

Here’s a quick rundown of the best Tron casino sites –

Betpanda.io – Best for no minimum deposits

Vave – Best for exclusive games

Bets.io – Best for multiple crypto wallets

BetOnline – Best for customer support

Jackbit – Best for sports betting

Cloudbet – Best for welcome bonuses

Betplay – Best for the live casino experience

BC.Game – Best for cryptocurrency support

FortuneJack – Best for provably fair games

Metaspins – Best for VIP programs and promotions

The Best Tron Casino Sites

Here are the top 10 Tron casino sites in 2024, ranked according to their features, ease of use, reliability, and costs.

Disclaimer: Our team has vetted and tested each online casino thoroughly, and while the sites listed below are among the best in their area, users should always remember to gamble only what they can afford to lose.

Betpanda.io

Source: Betpanda.io

Despite being a newcomer, Betpanda.io has quickly established itself as one of the best Tron casinos for a crypto-centric experience. Launched in 2023, it enables users to gamble anonymously using Tron and nine other cryptocurrencies, buy crypto via its site, and instantly withdraw funds and winnings.

While it is a new website, it still offers more than 4,000 games from dozens of providers. Users can play casino mainstays such as Baccarat, Poker, Blackjack, Craps, and Roulette, with there also being multiple variations of each, such as Classic Blackjack, European Blackjack, and American Blackjack.

There are also hundreds of slots and mini-games to choose from, as well as a healthy selection of provably fair games, including Dice and Plinko. And while Betpanda.io initially launched without a sportsbook, it has recently added a strong list of sports to bet on, from football and basketball to darts and table tennis.

Aside from its wide selection of games, Betpanda also brings a live casino and some fairly generous bonuses. This includes a 100% welcome bonus up to the equivalent of 1 BTC, as well as 10% cashback and a VIP program that provides additional bonuses depending on your level.

These features, combined with live chat and a support email, make Betpanda one of the best Tron gambling sites in the ecosystem today.

Quick Overview

100% welcome bonus of up to 1 BTC

12 supported languages, including English, Spanish, French, German, Italian, Dutch, Turkish, Greek and Arabic

10 supported cryptocurrencies, including Tron, Bitcoin, Ethereum, XRP, Tether, Litecoin, Dogecoin, BNB, Shiba Inu, Solana

Over 4,000 games, including poker, blackjack, baccarat, roulette, and slots

No minimum deposit

Pros

Instant crypto withdrawals

No minimum deposit is required to qualify for the welcome bonus

Wide selection of games, including provably fair games

Cons

50x wagering requirement for the welcome bonus

Vave

Source: Vave

Vave was established in 2022 and is now one of the best tron gambling sites for anyone looking for an authentic casino experience. Not only does it feature upwards of 6,000 games, but it also treats players to live casino tables and regular tournaments, making it ideal for anyone who wants to get as close as possible to the real thing.

As a crypto-friendly casino, Vave accepts Tron, Bitcoin, Ethereum, Tether, XRP, Dogecoin, Bitcoin Cash, and Litecoin. You can also buy crypto via a third-party provider, and withdrawals can take anywhere from zero to 72 hours.

Offerings include the core casino table games, as well as close to 2,000 different slots. This includes several Vave exclusives, helping the site to stand out from its rivals, which can sometimes have a tendency to reuse games from the same pool of core providers. The site’s sportsbook is also exhaustive, covering all major sports but making space for eSports and one-off bets about political events and elections, for example.

However, as mentioned above, tournaments are one of Vave’s standout features. Vave offers big prizes—one recent tournament involved a Porsche 911—for those who win. Such competitions are usually based around one of Vave’s many slot games, although other games are sometimes used.

Quick Overview

100% welcome cashback bonus up to 1 BTC

17 supported languages, including English, Spanish, French, German, Polish, Russian, and Greek

Eight supported cryptocurrencies, including Tron, Bitcoin, Ethereum, Tether, XRP, Dogecoin, Bitcoin Cash, and Litecoin

Over 6,000 games, including live tables, poker, blackjack, baccarat, roulette, and slots

Minimum deposit of $20

Pros

Excellent range of tournaments with good prizes

Big selection of games and live casino tables, including exclusive content

Excellent customer service and many supported languages

Cons

Relatively limited selection of accepted cryptocurrencies

Bets.io

Source: Bets.io.

Founded in 2021, Bets.io is a Tron casino focused on providing users with a smooth and efficient cryptocurrency gambling experience. In addition to Tron, it supports ten other cryptocurrencies, providing near-instant withdrawals and the ability to hold account balances in up to six of the supported cryptos.

It currently counts over 3,000 games on its website, from over 50 different providers. In addition to classic table games and a huge quantity of slots, it also hosts numerous jackpot and lottery games, as well as slot tournaments. The choice on offer also extends to live casino games, from recognized names such as Evolution, Pragmatic Play Live, Evoplay and Ezugi.

As a big sports fan, I was also pleased to find that Bets.io has an impressive sportsbook covering various events from around the globe. This spans everything from mainstream sports like soccer, basketball, and tennis to more niche areas such as Gaelic football and eSports. Odds are very competitive and updated regularly, while players can place bets on many micro-events within matches, such as first goals and scorers.

Also impressive is Bets.io’s bonus scheme, with its welcome bonus providing 100% on your first deposit, worth up to 1 BTC, or 428,571 Tron. Users also have the chance to earn a 50% bonus for additional deposits, a cashback bonus of up to 10%, and a bonus for combining sports bets.

Overall, Bets.io’s website is easy to navigate, and its games are fun to play. While I didn’t experience any problems myself, it provides a round-the-clock live chat feature and email-based support in case users have any issues with deposits, bets, or withdrawals.

Quick Overview

100% welcome bonus of up to 428,571 Tron, or 1 BTC

10 supported languages, including English, German, French, Hindi, Spanish, Arabic, Japanese, Turkish, Chinese, Russian, Brazilian Portuguese

11 supported cryptocurrencies, including Tron, Bitcoin, Ethereum, XRP, Tether, Litecoin, Cardano, and Dogecoin

Over 3,000 games, including live tables, poker, blackjack, baccarat, roulette and slots

Minimum deposit of 20 Tron

Pros

Great crypto support, with instant withdrawals and the ability to hold multiple wallets

Low minimum deposits and generous bonuses

Very big sportsbook, with competitive odds and many events

Cons

Not the widest selection of games relative to other sites

BetOnline

Source: BetOnline.

One of the biggest Tron casino platforms in the world, BetOnline launched in 2004 and is now the best in its field for customer service. Its website is frictionless and easy to use, and it offers extensive support, such as 24/7 live chat, a customer service phone line, and email.

BetOnline’s selection of games includes classic casino games such as slots, blackjack, poker, and roulette, as well as betting on popular sports, from football and Formula 1 to tennis and basketball.

As a firmly established betting website, BetOnline offers traditional payment methods such as bank transfers and credit cards. It also supports deposits and withdrawals in cryptocurrencies, including Tron, Bitcoin, Ethereum, Solana, Litecoin and XRP.

Another perk for newcomers is that BetOnline offers a generous welcome bonus of 50% on initial deposits, maxing out at $1,000. It also offers promotions on specific games, such as the popular 100% poker deposit bonus, which again is up to $1,000.

Opening an account requires a minimum deposit of $20 in Tron or any other cryptocurrencies the site accepts. However, BetOnline imposes a maximum deposit amount of $10,000 for anti-money laundering purposes.

Quick Overview

100% welcome bonus of up to $1,000

Supported language: English

15+ support cryptocurrencies, including Tron, Bitcoin, Ethereum, BNB, Cardano and Litecoin

Over 500 games are available, including poker, roulette, blackjack, baccarat, slots, and craps

Minimum deposit of $20

Pros

Strong reputation for trustworthiness

Best customer service in the business

Very user-friendly website

Vast sportsbook

Cons

Higher minimum payments if you use fiat

Small selection of games compared to many other Tron casinos

Jackbit

Source: Jackbit.

Jackbit has grown quickly since launching in 2022, and the Tron casino now boasts a vast selection of more than 6,000 games. This includes slots and mini-games, as well as the usual casino table games, such as blackjack, slots, poker, and roulette.

Jackbit offers a wide selection of games and numerous varieties of the same game. For instance, we found around 70 iterations of poker and over 50 different kinds of virtual slots, meaning that players shouldn’t have a hard time finding games that suit their tastes.

Jackbit also features a diverse sportsbook with highly competitive odds. Its sports options encompass the major football leagues across Europe, as well as Formula 1, basketball, MMA, tennis, baseball, rugby, and esports.

One major benefit of Jackbit is that it has very low minimum deposits. Those who deposit cryptocurrency need only $1 to get started. Supported cryptocurrencies include Tron, Solana, Bitcoin, Ethereum, and Tether.

One slight weakness, however, is that Jackbit’s welcome bonus provides only 50 free spins, with a minimum deposit of $50 required to qualify. That said, it does offer ongoing bonuses and promotions, such as rakebacks and a free bet after every three sportsbook wagers.

Quick Overview

Welcome bonus of 50 free spins with a $50 deposit

10 supported languages, including English, German, French, Russian, Italian and Spanish

10+ supported cryptocurrencies, including Tron, Bitcoin, Ethereum and USDT

More than 6,000 games are available, including slots, mini-games, blackjack, roulette, and poker

Minimum deposit of $1

Pros:

Comprehensive range of games and slots available

Good range of promotions and bonuses

Superb 24/7 live chat and customer support

Cons

Welcome bonus limited only to free spins

Cloudbet

Source: Cloudbet.

One of the friendliest online casinos for crypto, Cloudbet supports Tron and over 30 other tokens. What sets it apart from many of its rivals is its live dealer experiences, which can give players a stronger sense of involvement and engagement.

Its live casino options take in blackjack, roulette and baccarat, and come from providers such as Vivo and Evolution Gaming. More generally, its platform hosts over 2,000 games overall, spanning slots, lotteries, video poker and games of chance like dice.

Cloudbet launched in 2013, and as one of the longest-running Tron casinos, it features an expansive sportsbook. Players can place wagers on football, tennis, basketball, American football, MMA, horse racing, boxing, and ice hockey. This choice also extends to eSports, covering popular titles such as FIFA, Call of Duty, Counter-Strike, Starcraft, Rainbow Six, and Age of Empires.

New users receive a 100% welcome bonus when signing up for the first time, which maxes out at 75,000 TRON. There’s also a VIP program that rewards users with regular bonuses and winning multipliers based on their level of loyalty.

My time spent using Cloudbet was also improved by the seamless experience it offers, with clear navigation menus and 24/7 live chat for any problems you may encounter. Not that I had any issues when using the site.

Quick Overview

100% welcome bonus of up to 5 BTC or 75,000 Tron

18 supported languages, including English, Spanish, French, German, Italian, Dutch, Turkish, Japanese, and Korean

30+ supported cryptocurrencies, including Tron, Bitcoin, Ethereum, Tether, BNB, Cardano, Litecoin and Dogecoin

Over 2,000 games available, including slots, mini-games, blackjack, roulette, and poker

Minimum deposit of 0.0001 BTC, or 250 Tron

Pros

Highly rewarding VIP program and bonuses

Very crypto-friendly, with many accepted coins

Great selection of eSports

Low minimum deposits

Cons

5% fee for deposits and withdrawals

Betplay

Source: Betplay.

Launched in 2020, Betplay has made a name for itself thanks to its massive range of games and rewarding loyalty program. The latter incorporates a 10% cashback program for regular customers, enabling them to claw back some of their losses, assuming they have any.

As for its stable of games, Betplay ticks all the important boxes, giving users the chance to place bets on most major sports, as well as try their hand at poker and other casino favorites. The choice on offer is so wide that I found around a dozen variations of blackjack, such as American, European, single deck and classic, as well as several versions of other staples such as roulette, poker and baccarat.

As with several other Tron gambling sites on this list, Betplay features live casino tables that really add to the overall experience. Providers include Evolution, Microgaming, Asia Gaming and Beter Live, with there being enough diversity on offer to satisfy most tastes.

As a dedicated cryptocurrency casino, Betplay allows deposits in Tron and over ten other cryptocurrencies, including Solana, Bitcoin, Ethereum, Litecoin, Tether, and Dogecoin. Payouts were instantaneous in my experience, with Betplay offering a 100% welcome bonus of up to 20,000 Tron.

Quick Overview

100% welcome bonus of up to 0.05 BTC

20+ supported languages, including English, French, German, Italian, Polish, Norwegian, Finnish

10 supported cryptocurrencies, including Tron, Bitcoin, Ethereum, Tether, Monero, Dogecoin and Solana

More than 6,000 available games, including live casino, video poker, baccarat, blackjack, slots, and roulette

Minimum deposit of $1

Pros

Huge roster of games

Competitive loyalty program

Engaging live casino features

Cons

No fiat deposit or withdrawal options

Website can have slower load times than others

BC.Game

Source: BC.Game.

BC.Game is one of the more long-running Tron casinos in the cryptocurrency sector, having launched in 2017. As one of the more familiar names in the space, it accepts a huge range of cryptocurrencies, including Tron, Bitcoin, Ethereum, Solana, and XRP, making for over 100 coins in total.

Another unique feature of the site is that it fosters community engagement through forums and social channels. These areas invite players to exchange tips, provide advice to each other, and forge online friendships, something which ultimately encourages users to continue visiting the site.

At around 1,500 offerings, its library of games isn’t quite as comprehensive as other casinos’, yet it covers all the classics, including baccarat, roulette, blackjack, and slots. It also features a live casino supported by providers such as TV Bet, Evolution, Pocket Games Soft, and Pragmatic Play, making for a well-rounded platform overall.

This is complemented by BC.Game’s strong customer services comprise a 24/7 live chat tool, multiple email addresses, and also a Telegram channel. I was lucky enough not to need any of these resources, given how smooth and user-friendly website and games were during my time using them.

Quick Overview

180% welcome bonus of up to $20,000

10 supported languages, including English, German, French, Spanish and Russian

100+ supported cryptocurrencies, including Tron, Bitcoin, Ethereum, Cardano, Tether, Litecoin, Dogecoin, and XRP

More than 1,500 available games, including poker, blackjack, roulette, baccarat, slots, and live casino

Minimum deposit of $10

Pros

Massive welcome bonus

Accepts all major cryptocurrencies

Enjoyable social element

Cons

Selection of games isn’t as large as other Tron casino sites

FortuneJack

Source: FortuneJack.

Celebrating its ten-year birthday in 2024, FortuneJack is one of the most reputable Tron casino websites in the industry, licensed by the Curaçao Gaming Authority. It’s one of the best crypto gambling sites around for users who prioritize fairness and transparency, with many of its games using provably fair algorithms and random number generators.

FortuneJack permits deposits and withdrawals in 12 different cryptos, with Tron joined by such major tokens as Solana, Bitcoin, Ethereum, Litecoin, and Dogecoin. It doesn’t accept fiat currency, however, although the focus on crypto allows for faster payout processing times.

Its library covers some 3,000 games, with most classics covered. I saw slots, many table games such as blackjack and baccarat, games of dice, live tables and video poker. And there’s a big sportsbook with competitive odds, live updates, and plenty of matches and events to bet on.

FortuneJack also has an excellent loyalty program that offers 10% cashback on losses and a 40% reload bonus for new deposits worth up to 2 BTC. Together with its other features, this makes it one of the best Tron casino sites around today.

Quick Overview

110% welcome bonus of up to 1.5 BTC and 250 free spins

Supported language: English

12 supported cryptocurrencies, including Tron, Tether, Bitcoin, Ethereum, Solana, and Litecoin

More than 3,000 available games, including dice, video poker, live casino, blackjack, baccarat, and roulette

Minimum deposit of 0.002 BTC

Pros

Nice selection of provably fair games

Slick website and responsive customer support

Provides all the major games and many variations

Cons

Supports only English

Minimum withdrawal limit of $50

Metaspins

Source: Metaspins

Metaspins may be a relative newcomer to the crypto casino sector, having launched in 2022, yet it has quickly carved a niche for itself due to its unique promotions system.

In particular, it lets players build XP as they play games on its site, with users who level up gaining free ‘Metaspins.’ These Metaspins amount to rolls of the site’s virtual roulette wheel, and certain slots reward players with crypto prizes.

More generally, Metaspins offers a roster of over 2,500 games sourced from established providers, such as Play’N Go, NetEnt, Red Tiger, Pragmatic Play, Yggdrasil, Red Tiger, and Push Gaming. These include slots, table games, live casino experiences, and lotteries, as well as provably fair crypto games such as dice, mines, keno, and plinko.

The games are easy to understand, and Metaspins’ website is simple to navigate and quick to load. It also offers regular tournaments in in-house card games and a VIP program that gives users improved bonuses.

Speaking of bonuses, players are greeted with a 100% welcome bonus on their initial deposit, which maxes out at 200,000 Tron, or 1 BTC. Players need to deposit at least 10 Tron to qualify for this bonus, which isn’t much.

Quick Overview

100 % welcome bonus of up to 1 BTC

Seven supported languages: English, German, French, Norwegian, Portuguese, Spanish, Finnish

Nine supported cryptocurrencies, including Tron, Bitcoin, Ethereum, Tether, USDC and Cardano

More than 2,500 available games, including slots, live casino, poker, baccarat, roulette, blackjack, and lotteries

Minimum deposit of 0.0001 BTC

Pros

Generous promotions and loyalty program

Low minimum deposits

Good range of lotteries

Cons

No fiat payment options

Quick Comparison of Best Tron Casino Sites

How to select the right Tron Casino Site?

Picking the best Tron casino site all depends on having a clear idea of your particular requirements. If you have specific budgetary constraints, then you need to begin by finding a Tron gambling site that doesn’t require high minimum deposits or that doesn’t impose high fees.

Also, while all of the above sites accept deposits and withdrawals in Tron, users with other cryptocurrencies may want to find platforms that accept their other tokens as well. For example, there are various sites that offer Solana casinos, Monero casinos, and so on. The same applies if you like fiat currency as an option since not all Tron casinos accept state-issued money such as US dollars, euros, and British pounds.

It’s also important for gamers who want to play particular games or bet on particular sports to check what a site offers. This can usually be done easily on a given site’s homepage, with a sidebar or menu bar usually listing all of the different sections and areas within an online casino.

Lastly, users are always advised to make sure that the Tron casino they’re looking at is fully licensed within a respectable jurisdiction. If not, they may not have recourse if anything goes wrong.

FAQs

Are online Tron casinos secure?

Yes, the Tron gambling sites, especially the ones mentioned in this list, are secure. They use SSL encryption and other cybersecurity measures to ensure that communications and transfers are protected from interception. Besides, they are licensed by respectable jurisdictions.

Can I deposit Tron tokens at online casinos?

Yes, most crypto casinos accept Tron deposits and withdrawals, whereas some casinos also enable you to buy Tron and other cryptocurrencies via a third-party exchange.

Which Tron casino has the best customer support?

While all of the Tron casinos featured in this article have good customer support, two of the best would be Jackbit and BetOnline. BetOnline is one of the only crypto-friendly gambling sites to have its own customer support telephone number, while Jackbit’s 24/7 live chat is highly responsive and helpful.

The post The 10+ Best Tron Casino Sites in 2024 appeared first on Coinfomania.

Binance, the world’s largest crypto exchange has announced the introduction of two new services for spot and futures services. The leading exchange finally listened to the requests of its users by launching new products to cater to growing demand.

Over 120,000 active trading strategies are presently available on Binance’s Trading Bots Marketplace, and the company is constantly improving the range of automated trading strategy tools it provides to consumers. Binancians (users of Binance) currently enjoy Grid Trading for Spot and Futures, Rebalancing Bots, Auto-Invest, and Dollar-Cost Averaging (DCA) among other automated trading bots.

Binance Releases New Services to Unlock Expert Strategies

In a recent announcement dated May 15, the crypto exchange giant Binance said that it has launched spot copy trading to simplify trading by allowing users to automatically copy the trading strategies applied by more experienced spot market traders. Additionally, copy traders can enjoy access to different strategies including risk management, and educational growth opportunities. What is more, lead traders can make extra money, receiving a 10% profit share from traders after sharing their expertise. Also, they can earn another 10% from trading fees.

Recall that in October 2023, Binance launched futures copy trading, making advanced trading strategies available to a wider audience. Following the success of this, the exchange found it necessary to replicate this feature for spot trading. With spot copy trading, the concept of copy trading is expanded, moving beyond futures and making it easier for its global users to imitate the strategies of lead traders.

Meanwhile, users no longer have to manually execute two separate spot and perpetual futures contracts thanks to Binance’s first trading bot, Funding Rate Arbitrage Bot, which automates a delta-neutral spot and futures arbitrage method. By initiating a perpetual futures position and hedging it with an opposite position of the same size on the same symbol in the spot market, the Arbitrage Bot seeks to enable traders to profit on funding fees.

Once the user enters the parameters of their strategy, the Arbitrage Bot automatically executes both spot and futures trades simultaneously, saving them the trouble of managing two trade orders on separate trading interfaces. This is the main advantage of the Arbitrage Bot over manually implementing an arbitrage strategy. Users may easily track the performance of the Arbitrage Bot strategies by managing them independently in their trading bot wallet.

While the spot copy trading is available across all Binance platforms, the funding rate arbitrage bot is only available on the Binance website and will released on the Binance App on May 30.

The post Binance Introduces Spot Copy Trading and Funding Rate Arbitrage Bot appeared first on Coinfomania.

Since 2021, El Salvador has mined 474 Bitcoin, worth approximately $29 million, using geothermal energy from the Tecapa volcano. This initiative utilizes 300 mining processors and allocates 1.5 megawatts (MW) out of the 102 MW produced by the state-owned power plant.

This move positions El Salvador as a leader in renewable energy mining, especially significant amid growing concerns about Bitcoin mining’s environmental impact due to its heavy reliance on electricity and fossil fuels.

El Salvador’s Bitcoin Holdings and Political Support

El Salvador now holds 5,750 Bitcoin, valued at around $354 million. However, the nation’s adoption of Bitcoin has faced substantial criticism from global organizations like the World Bank since 2021. Despite this, President Nayib Bukele secured a decisive victory in the 2024 presidential election, reflecting widespread national support.

Bitcoin mining and its environmental footprint have long been contentious issues within the cryptocurrency industry. Environmental groups, including the Ripple-supported Greenpeace, have advocated for Bitcoin to transition from a proof-of-work to a proof-of-stake model to reduce its environmental impact. In line with these concerns, New York Governor Kathy Hochul enacted a two-year moratorium on proof-of-work mining on November 22, 2023, making New York the first U.S. state to impose such a ban. 

Elon Musk’s Stance on Environmentally Friendly Bitcoin Mining

Tesla CEO Elon Musk has also been vocal about Bitcoin’s environmental impact. After Tesla invested $1.5 billion in Bitcoin, Musk announced plans to accept Bitcoin for Tesla purchases. However, he quickly reversed this decision, citing the negative environmental effects of Bitcoin mining. Musk stated that he would reconsider only if over 50% of Bitcoin mining utilized renewable energy.

Despite reports suggesting that over 60% of Bitcoin mining now relies on renewable energy, Musk has not acknowledged these reports or reinstated Bitcoin as a payment option. Meanwhile, Tesla faces a lawsuit for repeatedly violating the Clean Air Act by releasing pollutants from its Fremont factory.

El Salvador’s Bitcoin journey began in September 2021 when it became the first country to adopt Bitcoin as legal tender. Initially, this move seemed advantageous as Bitcoin was in a bull market, with prices reaching new highs frequently. However, the onset of a bear market in the second quarter of 2022 cast doubts on the prudence of these early Bitcoin purchases, which appeared to result in significant losses.

President Bukele’s Commitment Amid Criticism

Source: Nayib Bukele’s official X profile

The bear market from 2022 to 2023 heightened scrutiny of President Bukele’s Bitcoin strategy. Despite the criticism, Bukele remained steadfast in his commitment to Bitcoin. On November 16 of 2022, he announced that El Salvador would begin purchasing Bitcoin daily starting November 17, marking a renewed commitment nearly three months after the country’s last Bitcoin purchase in July 2022.

El Salvador’s experiment with Bitcoin continues to be a bold and controversial endeavor, reflecting both the potential and risks of integrating cryptocurrency into a national economy. The country’s pioneering use of geothermal energy for Bitcoin mining highlights a significant step towards more sustainable practices in the industry. However, the long-term impact of these initiatives remains uncertain amidst ongoing environmental and economic challenges.

The post El Salvador Goes Green: 474 Bitcoin Mined Using Geothermal Energy appeared first on Coinfomania.

In a public statement on Twitter, a contributor to the Cypher Protocol known as “Hoak” confessed to stealing nearly half a million dollars in community funds to support a gambling addiction.

The pseudonymous developer admitted to the theft, stating that he took the funds and gambled them away, but did not flee with the money nor did anyone else. Hoak’s admission came as a result of an ongoing investigation that began on the Cypher Protocol Discord server, a platform that facilitates cross-margin decentralized exchange on the Solana blockchain.

Details of the Theft

According to Cypher Protocol core contributor “Barrett,” the stolen funds included $314,674 in USDT, USDC, and Solana (SOL) sent to Binance by a wallet linked to Hoak. Additionally, the same wallet accumulated over $184,077 in various cryptocurrencies such as ETH, RLB, ORCA, RAY, USDT, USDC, BONK, JitoSOL, mSOL, and WSOL.

Hoak’s confession detailed his deep remorse and acknowledgment of the consequences of his actions. He expressed his apology to all affected parties and admitted that his actions were driven by a severe gambling addiction and other unchecked psychological factors. The situation that led to the theft dates back to an unexplained event at the first Solana Breakpoint conference in November 2021, where both Hoak and his brother, along with Max from Mango DAO, were victims of a similar situation.

Impact on Cypher Protocol

Following the failure of a previous project, Hoak began working with Cypher Protocol, a decentralized exchange that offers margin- spot and derivatives markets as well as borrowing and lending services. He recounted his dedication to the project, likening his colleagues to family and emphasizing his commitment to their mission. Despite his efforts to innovate within the DEX design space, Hoak admitted that he ultimately succumbed to the pressures and fell into a destructive cycle of gambling.

Barrett further elaborated on the theft on Twitter, revealing Hoak’s wallet address and explaining that the theft occurred through 36 withdrawal transactions over several months. The initial detection of the theft came when a member of the Cypher Protocol Discord server reported an inability to withdraw funds, which Hoak initially promised to resolve. However, when the user was still unable to withdraw after the provided deadline, suspicions were confirmed.

Response and Investigation

Barrett has since reached out to law enforcement with detailed information about the theft, sharing a Google Docs document that outlines the extensive details of the incident. Internet sleuth ZachXBT, who previously assisted the Cypher Protocol team with an exploit in 2023, also commented on Twitter, revealing that he had Hoak’s personal information and would share it with law enforcement if necessary.

Hoak concluded his public statement with a somber acknowledgment of his situation, expressing his belief that there was no way forward and that his fate was now out of his hands. He ended his Twitter thread with a heartfelt apology for his actions.

Broader Implications

The incident has raised concerns about the growing issue of gambling addiction within the cryptocurrency space. Hoak’s confession highlights the impact of his gambling addiction on his behavior, a point he reiterated while denying any intent to victimize himself. The cryptocurrency industry has often been criticized for its perceived resemblance to gambling, with U.S. Securities and Exchange Commission Chair Gary Gensler likening the crypto ecosystem to “casinos in the Wild West” and stablecoins to “poker chips.”

A 2023 YouGov survey of over 4,200 adults in the United Kingdom found that individuals gambling at harmful levels were nearly five times more likely to own cryptocurrencies than the general population, making them more susceptible to the negative impacts of crypto trading. This data underscores the potential risks associated with gambling addictions within the rapidly evolving cryptocurrency market.

The post Cypher Developer Gambles Away $300,000 in User Funds appeared first on Coinfomania.

As organizations increasingly rely on biometric data for various applications, from accessing physical spaces to financial services, the frequency and impact of data breaches continue to rise. On May 15, the Worldcoin Foundation, the organization behind the Worldcoin iris biometric cryptocurrency project, announced the open-sourcing of its secure multi-party computation (SMPC) system. 

Enhancing Biometric Data Security

This SMPC system is responsible for encrypting iris codes into secret shares held by multiple parties, allowing the Worldcoin Foundation to permanently delete iris codes generated through its previous uniqueness-checking system. The head of protocol at the Worldcoin Foundation, Remco Bloemen, explained that the development and open-sourcing of the SMPC system enhances biometric data security.

The Worldcoin Foundation aims to increase the robustness of the Worldcoin protocol and set a new standard for security. This SMPC approach is even effective against quantum computing threats, highlighting its advanced security measures.

According to a report by Fortune Business Insights released on April 29, the global biometric system market is predicted to grow from $30.77 billion in 2022 to $76.70 billion by 2029. Concurrently, research from MIT’s Stuart Madnick revealed a significant rise (20%) in data breaches between 2022 and 2023, with the number of affected individuals doubling.

Introducing SMPChttps://t.co/LsGtH4bb9U

— Worldcoin (@worldcoin) May 15, 2024

Worldcoin’s Commitment to Privacy and Data Protection

Jannick Preiwisch, the Worldcoin Foundation’s data protection officer, emphasized the community’s commitment to developing and deploying advanced privacy-focused technologies. These efforts aim to improve trust online and increase access to the global economy. The new system demonstrates an unparalleled commitment to compliance with the EU General Data Protection Regulation and other data protection regimes worldwide. Additionally, it complements Worldcoin’s intention to provide users with more choice and control over their data, including personal custody and the ability to un-verify their World IDs.

Worldcoin has previously faced scrutiny from regulators worldwide, particularly in Europe, regarding its GDPR measures and user data practices. However, the foundation has taken steps to signal its willingness to comply with regulatory standards. In March 2024, it made the software of its iris-scanning Orb open-source and implemented a new “personal custody” privacy feature for user data.

In April, it announced plans to tighten privacy checks and allow users to un-verify their World IDs. At the beginning of this year, Worldcoin saw significant milestones, with its active daily user count for its wallet app surpassing one million. Additionally, its token WLD surged by 141%.

Decrease in Cryptocurrency Market Losses

The cryptocurrency market also experienced a notable decrease in losses due to hacking and fraudulent activities in the first quarter of 2024 compared to the same period in 2023. A study report published on March 28 by Immunefi, a blockchain security startup, revealed that overall losses from fraud and hacking in Q1 2024 were approximately $336.3 million, a significant drop from the $437.5 million recorded in Q1 2023. The audit identified 46 instances of hacking and 15 instances of fraudulent activity.

Of the stolen funds, $73.9 million (22%) from seven exploits in Q1 were recovered. The number of attacks decreased by 17.6%, from 74 in Q1 2023 to 61 in 2024. Hacks accounted for 95.6% ($321.6 million) of losses across 46 incidents, while fraud, scams, and rug pulls accounted for 4.4% ($14.7 million) in 15 incidents. Ethereum was the most targeted chain, ahead of the BNB Chain, with both networks accounting for 73% of total losses combined. Ethereum experienced the highest number of attacks, with 33 incidents, accounting for 51% of the losses. BNB Chain had 12 attacks, representing 22% of the exploited funds. Other incidents were identified on Arbitrum, Solana, Optimism, Bitcoin, Blast, Polygon, Conflux Network, and Base.

The Worldcoin Foundation’s efforts to enhance biometric data security through the open-sourcing of its SMPC system mark a significant step in addressing the growing challenges of data breaches. Coupled with the projected growth of the biometric system market and ongoing regulatory adjustments, these developments underscore the importance of robust data protection measures.

The post Worldcoin Enhances User Privacy with Open-Source Biometric System appeared first on Coinfomania.

Bitcoin’s price is expected to fluctuate between $55,000 and $75,000 over the next month, with a potential upward movement towards the end of the second quarter, according to Mike Novogratz, founder and CEO of Galaxy Digital.

During Galaxy Digital’s first-quarter earnings call, where the firm reported record quarterly revenue, Novogratz emphasized that the crypto markets are currently experiencing a consolidation phase.

Consolidation Phase in Crypto Markets

Novogratz elaborated on this phase, stating that Bitcoin, Ethereum, and other cryptocurrencies like Solana are likely to remain within this price range until new market conditions emerge. He predicted a potential price increase towards the end of the current quarter. The initial launch of spot Bitcoin exchange-traded funds (ETFs) saw a surge in demand from institutional investors, generating over $13.9 billion in volume in their first week. However, recent months have seen a significant decline in inflows, coinciding with a drop in Bitcoin’s price. TradingView data shows that Bitcoin has fallen 16.5% from its all-time high of $73,700, achieved on March 13.

Despite the reduced inflows for spot Bitcoin ETFs and the recent price decline, Novogratz remains optimistic. He noted the ongoing adoption of cryptocurrencies by traditional financial institutions. Galaxy Digital, in collaboration with Invesco, launched their own spot Bitcoin ETF, trading under the ticker BTCO. Since its launch, the fund has attracted $268 million in inflows, the second-lowest among all funds except the Grayscale Bitcoin Trust.

Novogratz highlighted the gradual process of wealth managers integrating cryptocurrencies into their clients’ portfolios, suggesting that this adoption trend will continue to support the market. He also pointed out several catalysts that could drive crypto market prices in the coming months, despite the current consolidation phase.

Macroeconomic Factors and Regulatory Clarity

According to Novogratz, the market is likely to remain in this phase until significant macroeconomic changes occur, such as the Federal Reserve cutting rates due to a slowing economy or clarity emerging from the upcoming presidential election in November 2024. He believes the election will provide clear direction for the crypto regulatory landscape, which could impact market dynamics.

Until there is a shift in macroeconomic data and a decrease in inflation, Novogratz expects the Federal Reserve to maintain its current stance, keeping Bitcoin’s price range-bound. He predicts that without changes in short-term interest rates or regulatory clarity, Bitcoin will likely continue trading within its current range.

Bitcoin’s 50% increase in the first quarter was driven by the excitement surrounding the launch of Bitcoin spot ETFs. However, these funds have experienced net outflows in the second quarter. Other significant events, such as the Bitcoin halving and the launch of the Runes token standard, also played a role in the market’s dynamics last month.

Novogratz reassured investors by stating that there are no immediate threats on the horizon that could trigger a market crash. He acknowledged that market prices are influenced by macroeconomic forces and can fluctuate accordingly. For Galaxy Digital, the first quarter of 2024 was successful, with the company reporting $422 million in net income and a 50% increase in assets under management.

Optimistic Outlook for Bitcoin Price

Novogratz’s analysis aligns with the market’s optimistic surge in the first quarter of 2024, driven by the momentum from the BTC halving and the approval of spot Bitcoin ETFs. Before the recent market corrections, Bitcoin’s price had reached an all-time high of over $72,000.

In summary, while Bitcoin is expected to remain within a specific price range in the near term, various factors, including macroeconomic shifts and regulatory developments, could influence its future trajectory. Novogratz’s insights suggest a cautious yet optimistic outlook for the cryptocurrency market.

The post Bitcoin Price Expected to Fluctuate Between $55,000 and $75,000, Says Galaxy’s Novogratz appeared first on Coinfomania.

Vanguard, the asset management giant, has appointed Salim Ramji, a former executive at BlackRock known for his pro-Bitcoin stance, as its new CEO. Ramji’s appointment, effective from July 8, has sparked speculation within the industry about potential shifts in Vanguard’s long-standing opposition to Bitcoin and the possibility of a late filing for a spot Bitcoin exchange-traded fund (ETF).

Industry Reactions to Ramji’s Appointment

Ramji, who played a key role in the approval and launch of BlackRock’s spot Bitcoin ETF earlier this year, has raised industry expectations about Vanguard’s future direction. Bloomberg ETF analyst James Seyffart, in a May 15 post on X, expressed doubts about Ramji’s ability to launch a spot Bitcoin ETF at Vanguard but suggested that Ramji might reverse the firm’s position on allowing clients to buy spot Bitcoin ETFs on its brokerage platform.

This sentiment was echoed by fellow Bloomberg analyst Eric Balchunas, who noted that Ramji has previously spoken positively about Bitcoin and blockchain technology. Balchunas described Vanguard’s decision to appoint Ramji as a “semi-shock” since it marks the first time the firm has hired an outsider as CEO.

Ramji Succeeds Bitcoin Critic Tim Buckley 

Ramji will succeed Tim Buckley, a staunch critic of Bitcoin, whose tenure as Vanguard’s CEO has been marked by strong opposition to Bitcoin ETFs. Buckley, who has faced criticism from customers and frequent inquiries about the firm’s plans to offer Bitcoin ETFs, has consistently cautioned against including Bitcoin ETFs in retirement investment portfolios due to their volatile nature. In a video published by Vanguard, Buckley emphasized that Bitcoin is a speculative asset that does not belong in long-term investment portfolios, highlighting its significant decline during the 2022 stock market crash as evidence of its instability.

Despite Bitcoin reaching an all-time high of over $69,000 in 2021, it experienced a sharp decline in 2022, dropping to under $16,000. This period also saw the S&P 500 fall by 21%, largely attributed to the U.S. Federal Reserve’s interest rate hikes. Buckley maintained that Vanguard would not change its stance on Bitcoin ETFs unless there were significant changes in the asset class.

Source: Eric Balchunas

After the U.S. Securities and Exchange Commission approved 11 spot Bitcoin ETFs on January 10, Vanguard quickly announced its decision not to offer these products to its customers. This stance was reiterated by the firm, which stated that Bitcoin products do not align with its investment philosophy focused on asset classes such as equities, bonds, and cash, which Vanguard views as the foundation of a well-balanced, long-term investment portfolio.

Vanguard’s decision not to offer spot Bitcoin ETFs has not been without controversy. In January, some long-time customers threatened to close their accounts in response to the firm’s stance. Despite this, Vanguard remained steadfast in its decision, asserting that Bitcoin does not fit within its investment offerings, which are centered on traditional asset classes aimed at building a balanced, long-term investment strategy.

Looking Ahead

The search for a new CEO began in late February when Buckley announced his retirement plans. Ramji left BlackRock four days after helping the firm launch its iShares Bitcoin Trust on January 11, 2024, seeking new leadership or entrepreneurial opportunities. At BlackRock, he served as the Global Head of iShares and Index Investments and was a member of the firm’s Global Executive Committee.

As Ramji steps into his new role, the industry will be closely watching to see if his pro-Bitcoin background will influence Vanguard’s future policies and potentially open the door to a more Bitcoin-friendly approach within the firm.

The post Vanguard Appoints Pro-Bitcoin Salim Ramji as CEO appeared first on Coinfomania.

The Special Investigation Team (SIT) has intensified its probe into a major Bitcoin scam, issuing a notice to Inspector General of Police (IGP) Sandeep Patil. 

Patil, who led the Central Crime Branch during the alleged scam, has been called to clarify certain aspects of the investigation previously conducted under his supervision. This inquiry highlights ongoing concerns over the handling of cybercrimes involving cryptocurrency in India.

A police officer in Bengaluru, who has been named in a Bitcoin scam-linked case, has been accused of attempting to murder a member of the Special Investigation Team (SID) when he was trying to arrest him on Tuesdayhttps://t.co/YxCHb8XXbz

— The Indian Express (@IndianExpress) February 29, 2024

Details of the Investigation and Allegations

The Bitcoin scam centers around hacker Srikrishna Ramesh, known as Sriki, and his associate Robin Khandelwal. Sriki is accused of hacking into the Unocoin cryptocurrency exchange in 2017 and stealing 60.6 Bitcoins, valued at approximately ₹1.14 crore at that time. 

Further allegations suggest that he laundered these funds through various online platforms. The duo faced arrest in 2020 on charges related to the online purchase of drugs using Bitcoin, which brought them under closer scrutiny.

The SIT has implicated several former officers of the Crime Branch in manipulating the probe to cover up the alleged misappropriation of Bitcoins. Among those named are Sridhar Poojar, Prashanth Babu, Chandradhar SR, and Lakshmikanthaiah. A private cyber expert, KS Santhosh Kumar, who assisted in the investigation, has also been implicated. The Crime Branch’s initial claim was the recovery of 31 Bitcoins worth ₹9 crore from Sriki, which later could not be accounted for, raising questions about the integrity of the investigation.

Legal Proceedings and Further Developments

In recent court proceedings, the SIT highlighted discrepancies in the original investigation, particularly the unexplained disappearance of the 31 Bitcoins. The explanation provided by the Crime Branch was that Sriki had manipulated the Bitcoin core application to mislead the investigation. 

However, the SIT criticized the lack of depth in the investigation into how the Bitcoin core application was allegedly tampered with.

Additionally, the probe has widened to include Rishab, the son of an Additional Director General of Police (ADGP), who is under investigation for his alleged involvement in the scam. Accusations against Rishab involve the utilization of funds obtained through Bitcoin trading to purchase a luxury car. This line of inquiry underscores the broader implications of the scam, touching upon the involvement of individuals connected to high-ranking officials.

The ongoing investigation by the SIT reflects a broader crackdown on cryptocurrency-related scams in India. With the rise of digital currencies, the country has seen an increase in related criminal activities, prompting authorities to adopt more stringent measures. Earlier actions this month by India’s Enforcement Directorate, which included the seizure of over $30 million linked to cryptocurrency scams, indicate a concerted effort to tackle such financial crimes.

The post Special Investigation Team (SIT) Probes Indian Officers in Bitcoin Scam appeared first on Coinfomania.

Global neo bank and financial technology platform Revolut Business has announced the listing of memecoin FLOKI on its platform. This update has brought excitement across the ecosystem as FLOKI continues on its path to becoming a worldwide recognized cryptocurrency. Consequently, the price of the token has jumped 15%, igniting positive sentiments among investors.

Revolut Business Extends Support to FLOKI

In a recent update on X (formerly Twitter), Revolut Business, Europe’s largest retail trading app, has informed its users that it has now extended support to the popular memecoin FLOKI. The platform which boasts of over 40 million users in more than 150 countries has introduced the token, making it possible for businesses across Europe to purchase the coin. This accelerates FLOKI’s vision to become the most popular and the most used cryptocurrency globally.

#FLOKI IS NOW LIVE ON REVOLUT BUSINESS!Revolut is the biggest neobank and retail trading app in Europe, with 40 million+ users in 150+ countries.The Revolut Business listing makes it easy for businesses across Europe to buy $FLOKI and will accelerate Floki's vision of… pic.twitter.com/FD9tcO6WFi

— FLOKI (@RealFlokiInu) May 15, 2024

A wave of listing announcements has coincided with FLOKI’s debut on Revolut Business, highlighting the meme coin’s growing popularity and global reach. Notably, FLOKI recently obtained listings on Binance’s Thailand branch, the industry leader in cryptocurrency exchanges, highlighting its popularity across a variety of geographical areas, including Asian markets.

Meanwhile, on May 13, FLOKI was listed on Bitpandas’ Meme Coin Leaders Index. Following this, the price jumped by 8% at the time, signifying growing confidence in the future outlook of the project. It is important to note that the Bitpandas index brings to light a well-diverse portfolio of top meme tokens by market cap. Bitpanda made this move to cater to investors growing interests in memecoins, presenting them with a structured and effective opportunity.

FLOKI Price Movement After Listing

The price of FLOKI has reacted positively following the major listing on Revolut Business. At the time of writing, data from CoinMarketCap show that the price of FLOKI is up by 14.31%, trading at $0.00022. Additionally, its trading volume over the last 24 hours has spiked by 81.85% to $941 million, with a growing market cap of $2.1 billion.

Source: CoinMarketCap

As a result, FLOKI now occupies the #49 position on the largest cryptocurrency by market cap list, also, positioning itself as the fifth-largest memecoin directly following Dogwifhat (WIF).In hindsight, FLOKI has grown by 29.09% in the last seven days and about 38.82% in the last month.

The post Revolut Busines Lists FLOKI, Triggers Price Surge by 15% appeared first on Coinfomania.

Alchemy Pay, a fiat-crypto payment gateway, has announced a new partnership with UniSat, a provider of blockchain services. 

This collaboration is set to enhance the capabilities of UniSat’s wallet, incorporating Alchemy Pay’s On-Ramp solution into the “Buy Crypto” portal of the UniSat Wallet. This integration aims to facilitate an easier and more compliant process for purchasing Bitcoin, accommodating a variety of payment methods, including Visa, Mastercard, mobile wallets, and domestic bank transfers.

.#AlchemyPay's On-Ramp solution is now live on @unisat_wallet for easy Bitcoin purchase.

Featuring a range of fiat payment options, this integration expands accessibility for a wider user base to join and engage with the general #Bitcoin ecosystem.https://t.co/krVVO6f2s6$ACH pic.twitter.com/YgxSVQJ1Y1

— Alchemy Pay|$ACH : Fiat-Crypto Payment Gateway (@AlchemyPay) May 15, 2024

The partnership is designed to benefit users by providing straightforward access to Bitcoin and potentially broadening participation within the Bitcoin ecosystem. UniSat has gained recognition for specializing in asset inscription and supports the management of Bitcoin assets through its wallet services.

Expansion of Services in Bitcoin Ecosystem

UniSat has carved a niche in the Bitcoin community by offering specialized services related to Ordinals and BRC20 tokens on the Bitcoin network. The UniSat Wallet enables users not only to buy and sell tokens and NFTs but also to mint new tokens. This array of services positions UniSat as a pivotal player in the expanding field of Bitcoin technology.

The integration with Alchemy Pay enhances UniSat’s offerings by simplifying the process of acquiring cryptocurrencies directly through various popular payment systems. This strategic enhancement is expected to streamline the user experience significantly, making it easier for newcomers and existing participants in the cryptocurrency world to engage with Bitcoin transactions.

Alchemy Pay’s Global Reach and Regulatory Compliance

Alchemy Pay has established itself as a key entity in bridging fiat and cryptocurrency transactions. With a presence in 173 countries and support for over 300 payment channels, Alchemy Pay offers a broad range of checkout options that extend beyond traditional credit card payments to include local mobile wallets and bank transfers. The company’s global operations are backed by regulatory approvals in multiple jurisdictions, including the United Kingdom, United States, Canada, Indonesia, and Lithuania.

Recently, Alchemy Pay has further solidified its position by obtaining an Authorised Payment Institution License in the UK. This regulatory milestone enhances its credibility and reaffirms its commitment to providing secure and compliant payment solutions globally.

Alchemy Pay Enhances Crypto Accessibility in India

In addition to its partnership with UniSat, Alchemy Pay has collaborated with Bitget, a cryptocurrency exchange, to simplify the process of purchasing cryptocurrencies using the Indian Rupee (INR). This initiative is tailored to cater to the needs of Indian users, offering them a convenient and flexible way to transition from fiat to crypto assets. 

Moreover, through the integration of Alchemy Pay’s On-Ramp solution, Bitget users can effortlessly buy cryptocurrencies like USDT, BTC, ETH, and TRX using payment methods such as the Unified Payments Interface (UPI) and IMPS (bank transfer).

The post UniSat Wallet Integrates Alchemy Pay for Crypto Access appeared first on Coinfomania.

The future promised to ’90s kids has arrived through the continuous endeavor of the metaverse, which integrates VR and AR technology to shape this new reality. They have truly refined the way we experience virtual reality. With a mix of augmented reality, you can bid goodbye to those dated headsets and controls. Today’s VR is about immersive experiences, redefining how we game, socialize, and build virtual economies. Cryptocurrency is the engine of this new-age digital world, allowing investors to own a piece of this d;igital fort.

The question is, is your crypto portfolio ready for this VR explosion? If you’re a beginner investor, now’s the perfect time to discover exciting VR crypto projects that offer a whole new dimension to your holdings. These projects push boundaries, letting you virtually race hypercars, build social empires, and earn from virtual adventures.

Let’s talk about how to get your portfolio VR-ready.

Let’s get your portfolio VR-ready with the most sought-after coins: 

5thScape

DarkLume

Simugaze

With a wide range of VR cryptocurrencies in mind, let’s look at the different groups and how each type of coin fits into the VR environment. This information will help you build a portfolio ready for VR crypto investments.

1. 5thScape: Own Your VR Gameplay

Variety is the Spice of Life: 5thScape offers a diverse range of VR games, from the intense physicality of VR MMA to the strategic finesse of VR cricket. There’s truly something for every VR enthusiast, ensuring a dynamic and ever-evolving gaming experience.

The Power of 5SCAPE Coin: This isn’t just in-game currency; it’s your stake in the 5thScape ecosystem. Use it for in-game purchases, participate in governance, and shape the platform’s future. The whitepaper mentions voting on future game development – imagine having a say in the next big VR title!

>>Click here to visit 5thScape Presale Page Building a Balanced Crypto Portfolio for the Virtual World

Diversification is key to a healthy portfolio. Here’s how to strategically include VR-focused crypto assets:

Understanding the VR Crypto Landscape: VR crypto isn’t just one thing. It powers incredible possibilities:

Game Coins: Fuel thrilling VR gaming experiences, allowing players to truly own in-game assets, earn rewards, and shape how games evolve.

Metaverse Platforms: These coins underpin virtual worlds where you can buy land, socialize, create, and even run your own businesses – basically, a whole new digital existence!

Infrastructure Providers: These coins power the behind-the-scenes tech – the blockchains, developer tools, and marketplaces, that make the VR revolution possible.

Balance for Growth: A solid VR crypto portfolio mixes:

Established Players: Coins with a proven track record offer stability.

Emerging Stars: New projects with innovative use cases can mean explosive growth potential.

Variety: For a wide range of exposure, it mixes game coins, social tokens, and infrastructure picks.

2. DarkLume: Where Luxury Meets Adventure in the Metaverse

Live Like a VIP: DarkLume isn’t just a virtual world; it’s a status symbol. DLUME coins are your gateway to an exclusive social experience. Imagine attending high-end virtual events, owning a piece of prime virtual real estate, or dressing your avatar in the hottest virtual fashion – all facilitated by DLUME coins. (The whitepaper mentions exclusive access to virtual countries based on coin holdings.)

>>Click here to visit DarkLume VR

A Touch of the Wild: DarkLume promises a unique blend of social interaction and thrilling activities. The specifics remain intriguing, but the white paper mentions “wild activities,” which will be revealed during development. Think of it as adding excitement to your luxurious metaverse experience.

3. SimuGaze: Feel the Need for Speed (and Beyond!)

Immersive Racing Redefined: SimuGaze isn’t just about graphics; it’s about putting you in the driver’s seat. Now you can experience the real-life thrill of a racing event through VR technology. Customize your dream vehicle with extensive options – the white paper mentions building cars from scratch – and test your skills on the track.

>>Click here to visit SimuGaze Presale Page

SGAZE Token: Your Key to the Fast Lane: The SGAZE token fuels everything SimuGaze. Use it to buy high-performance parts, compete in high-stakes races, and even stake your tokens for passive rewards. This multi-layered utility makes SGAZE a valuable asset for any racing enthusiast. 

(Compatibility note: Based on the whitepaper, SimuGaze targets major VR platforms like Oculus, Playstation VR, and HTC Vive.)

Getting Started

Trusted Exchanges: Use reputable crypto exchanges to buy VR coins.

Secure Wallets: Invest in a secure wallet (hot or cold) to store your tokens.

Stay Informed: Keep tabs on your projects, VR industry news, and broader crypto trends.

Important Considerations Before Investing

Do Your Research: DYOR! Read project whitepapers, community discussions, and news. Don’t just jump on hype.

Risk Tolerance: VR crypto is exciting but still emerging. Adjust your investment size based on your risk level.

Long-Term Potential: Believe in the power of VR and the vision of the projects you choose.

Time to Explore the VR coins

The Metaverse is changing how we connect, play, and build wealth. Your crypto portfolio must take advantage of these exciting evolutionary coins of the VR universe. Projects like DarkLume, SimuGaze, and 5thScape are trailblazers, pushing VR experiences to new heights while creating vibrant crypto economies.

Remember, a diversified portfolio is as important as achieving your financial goals. Combine these top picks with a solid understanding of the VR crypto landscape, thorough research, and a long-term mindset. Don’t just watch the VR revolution unfold – actively participate in shaping this exciting new world! The time to get your portfolio VR-ready is now.

The post Is Your Crypto Portfolio VR-Ready? Top 3 Picks to Diversify Now in 2024 appeared first on Coinfomania.

United Nations experts have disclosed that North Korea allegedly laundered $147.5 million through the cryptocurrency mixer Tornado Cash. 

The funds, stolen last year from the HTX cryptocurrency exchange, were reportedly cleaned in March of this year, an operation unveiled in documents submitted to a U.N. Security Council sanctions committee. The detailed investigation highlighted ongoing concerns regarding the illicit use of digital currencies by the Democratic People’s Republic of Korea (DPRK) to bypass international sanctions.

The UN monitors’ document, which has not yet been publicly released, draws on data from crypto analytics firms PeckShield and Elliptic. It presents a broader investigation into 97 suspected cyberattacks by North Korean entities targeting various cryptocurrency firms from 2017 to 2024, with stolen assets valuing around $3.6 billion. These activities are said to boost North Korea’s revenue significantly despite stringent international sanctions aimed at curtailing its nuclear and ballistic missile programs.

NORTH KOREA LAUNDERED $147.5M THROUGH STOLEN CRYPTO

North Korea laundered $147.5 million through Tornado Cash after stealing it from a cryptocurrency exchange, according to a UN report.

Monitors investigated 97 suspected North Korean cyberattacks on cryptocurrency companies… pic.twitter.com/dIApZdh49T

— Mario Nawfal (@MarioNawfal) May 14, 2024

U.N. Monitoring and International Sanctions

The revelations come amid a contentious backdrop where the U.N. sanctions monitors were disbanded following a veto by Russia against the annual renewal of their mandate. This development has raised concerns about the continuity of oversight regarding North Korea’s compliance with international sanctions. The document shared with the Security Council is part of unfinished work by the disbanded group, indicating potential gaps in monitoring North Korea’s activities moving forward.

The monitors also reviewed cases from 2024, in which 11 cryptocurrency thefts worth $54.7 million were possibly linked to DPRK IT workers employed by small crypto-related companies. These instances underscore the challenges in policing the hiring processes within the cryptocurrency industry, which might inadvertently support the DPRK’s sanctioned activities. The U.N. sanctions against North Korea, in place since 2006 and strengthened over time, aim to block sources of funding for its prohibited nuclear and missile endeavors.

Enforcement Challenges and International Responses

The U.S. had previously sanctioned Tornado Cash in 2022, accusing it of aiding North Korean cybercriminal activities, including laundering over $1 billion. Despite the sanctions, the mixer continued to be implicated in laundering operations, demonstrating the difficulties in regulating decentralized cryptocurrency technologies. The case against Tornado Cash co-founder Roman Storm, who has pleaded not guilty to U.S. charges, further illustrates the complexities involved in prosecuting individuals linked to crypto laundering.

No immediate comment has been made by North Korea’s mission to the U.N. in response to the U.N. experts’ report. The document also highlights ongoing North Korean strategies to evade sanctions, such as using maritime routes to trade prohibited goods and engaging in ship-to-ship transfers of coal and petroleum, often with the alleged surrender of neighboring states.

The U.N. report paints a concerning picture of North Korea’s sophisticated use of cyber warfare and cryptocurrency theft to fund its sanctioned programs. The international community remains vigilant, with ongoing investigations into North Korea’s involvement in arms trade with Russia and its attempts to circumvent sanctions through complex financial and maritime networks.

The post Tornado Cash Implicated in North Korean $147.5M Laundering Case, Report appeared first on Coinfomania.

Binance, the world’s largest cryptocurrency exchange by trade volume has said that it will delist trading pairs for three altcoins including Conflux (CFX), Tranchess (CHESS), and ORDI. In the statement dated May 15, the leading exchange will discontinue its services for the aforementioned tokens soon.

Binance to Remove Trading Pairs for CFX, CHESS, and ORDI

In a recent announcement, Binance exchange informed its users that in its bid to protect them and maintain a high-quality trading market, it will be delisting certain trading pairs from the platform in two days. Per the announcement, the following trading pairs CFX/TUSD, CHESS/BTC, and ORDI/TUSD will be removed on May 17 at 03:00 (UTC).

Furthermore, Binance highlighted that the removal of these trading pairs does not affect the availability of the tokens on Binance Spot. Consequently, Binancians (users of Binance) can continue to trade these tokens on other trading pairs available on the platform.

Additionally, spot trading bots for the aforementioned pairs will be stopped at the same time of delisting. Users have been advised to take proactive measures by updating or canceling their spot trading bots before the deadline to avoid any potential loss.

“Binance will terminate Spot Trading Bots services for the aforementioned spot trading pairs at 2024-05-17 03:00 (UTC) where applicable. Users are strongly advised to update and/or cancel their Spot Trading Bots prior to the cessation of Spot Trading Bots services to avoid any potential losses,” the statement reads.

Binance Navigates Regulatory Waters

Meanwhile, this update comes amid Binance’s global regulatory challenges. The exchange faces several allegations in Nigeria including violations of the provisions of the Money Laundering (Prevention and Prohibition) Act, 2022, violations of the provisions of the Investments and Securities Act, 2007, and the Rules on Issuance, Offering Platforms and Custody of Digital Assets, May 2022 and violation of relevant provisions of Nigeria’s Tax laws resulting in tax evasion, defrauding Nigeria of billions of dollars in tax revenue according to a local news channel Arise.

As the case proceeds, Binance has alleged that a member of the government had requested a $150 million bribe in crypto, to be paid within a timeframe of 48 hours. However, the House of Representatives Committee on Financial Crimes has debunked these allegations, describing it as “diversionary,” an attempt to distract Nigerians from the crimes committed.

The chairman of the committee, Ginger Onwusibe argued that Binance’s claim was baseless, offensive, untrue, manufactured, and obviously intended to cloud the situation and divert attention from the horrifying claims of financial and economic crimes against the Nigerian.

In more welcoming news, the crypto exchange has received a regulatory nod from the Indian Financial Intelligence Unit (FIU), signifying regulatory compliance and a welcome to the Indian market.

The post Binance Announces Delisting of 3 Trading Pairs: Details appeared first on Coinfomania.

A new crypto whale has emerged and moved approximately 29k worth of Ethereum (ETH) tokens from the Coinbase exchange. This update has sparked discussions and raised speculations among the crypto community over a possible price reaction in the short term. Amid the ongoing ETH price correction, the large investor transferred a staggering amount over the last day.

Interestingly, this transaction coincides with other notable accumulations within the last 24 hours according to several crypto transactions trackers. As a result, positive sentiments surrounding the token have been ignited. Let us look at the recent transactions closely.

$83 Million Worth of ETH Tokens Shifted From Coinbase

According to recent data from Oklink, a blockchain transaction and information explorer, a fresh wallet has amassed a total of 28,900 ETH tokens from the US-based Coinbase exchange. At the time of writing, the total value of the transaction is worth $84.19 million. Additionally, the wallet address was also spotted transferring about 10.04K ETH tokens (worth $29.03 million) from the Bitstamp exchange.

Source: Oklink

Meanwhile, this is not the only transaction to have been recorded within the time. According to another on-chain transaction tracker, WhaleAlert, a colossal amount of Ethereum tokens have been moving between wallets over the last day. Approximately 5 hours ago from the time of writing, an anonymous whale moved exactly 11,282 ETH (valued at $32,524,273) from a wallet to the Coinbase exchange.

11,282 #ETH (32,542,273 USD) transferred from unknown wallet to #Coinbasehttps://t.co/ef5VvwCQBR

— Whale Alert (@whale_alert) May 15, 2024

Shortly after, about 30,807 ETH (worth $88.9 million) was transferred from another wallet to Coinbase Institutional. Following this, a wave of several ETH transfers carrying at least 7,000 tokens from Coinbase Institutional to wallets labeled as ‘unknown’ were registered. Per the report, the first one moved 7,742 valued at $22.3 million. The second carried 7,080 (worth $20.4 million). Another one shifted 7,742 (worth $22.3 million) all within the last 4 hours.

The appearance of these transactions at a time when Ethereum appears to be experiencing a monthly correction has raised expectations for more price movement for the cryptocurrency in the future.

Ethereum (ETH) Price Today

Meanwhile, the price of Ethereum, the second-largest cryptocurrency by market cap has appeared to suffer losses over the week. According to data from CoinMarketCap, the price of ETH today is $2,916, representing a 0.05% decrease in the last 24 hours. What is more, the volume has also dropped within the observed time. Per CMC data, the 24-hour trading volume of ETH has dipped by 7% to $11.3 billion with a live market cap of $350.3 billion.

According to Coinglass data, ETH’s open interest increased by 2.47% to $10.83 billion, while the volume of derivatives dropped by 14.15% to $18.17 billion. This could be the cause of the token’s present market volatility, given there is little investor interest in the asset and little market activity.

The post New Whale Moves Almost 29k ETH Tokens From Coinbase, Possible Price Reaction? appeared first on Coinfomania.

Meta has announced their virtual assistant – llama. This is a big moment for developers in the history of VR and AR. Meta is working to make the Metaverse bigger and to bring about a new era of currency trade that people can use to get ahead of the cryptocurrency curve.

The Metaverse, powered by virtual reality (VR), is creating a future we all have dreamt about. Fueling it through the VR metaverse coins, the cryptocurrencies that drive these virtual worlds, gives you the power to own, create, and even make a fortune!

These coins, especially newcomers like Darklume, SimuGaze, and 5thscape, could lead the charge into a future filled with limitless possibilities.

Five of the Most Sought VR Metaverse Coins with Explosive Potential

5thScape

Darklume

Simugaze

Decentraland

The Sandbox

Let’s discuss the most talked about crypto coins – five VR metaverse projects with serious potential, perfect for new investors seeking explosive growth:

1. 5thScape (5SCAPE): Your All-Access Pass to the Metaverse

Concept: 5th Scape boasts a broader appeal than Darklume and SimuGaze’s niche offerings. It envisions a comprehensive metaverse experience, encompassing gaming, education, work, and social interaction – providing you with a truly customizable digital life.

Key Information from the White Paper: 5th Scape has a detailed, publicly accessible whitepaper (https://docs.5thscape.com/whitepaper).

>>Click here to visit 5thScape Presale Page Key takeaways include:

Diverse Games: Expect an exciting range of gaming options, including thrilling 3D VR adventures focused on cricket, soccer, and arcade-style experiences.

Emphasis on Education: 5th Scape seeks to revolutionize learning. Their whitepaper outlines plans for immersive modules, interactive content, and engaging virtual classrooms.

Virtual Work Potential: The whitepaper hints at the possibility of collaborative VR workspaces, where 5SCAPE tokens facilitate transactions.

Token Functionality: According to its comprehensive whitepaper, the 5SCAPE coin is the only key to this experience. Anticipated uses include:

Content Access: Unlocking exclusive games, educational materials, and premium features within the 5th Scape ecosystem.

Customization: Enhancing your virtual avatar with outfits, accessories, and other customizations for self-expression in the Metaverse.

Community Transactions: Utilizing the 5SCAPE token to assist virtual creators and businesses, facilitate in-world exchanges, and tip other gamers.

Why It Could Explode: 5th Scape is well-positioned for widespread adoption thanks to its comprehensive approach and thorough whitepaper.By providing a platform for entertainment, learning, and potential income opportunities through VR, 5th Scape could become a central hub of the Metaverse.

2. DarkLume (DLUME): A Glimpse into a High-Stakes Metaverse

Concept: DarkLume caters to a very specific audience, i.e., people seeking a luxurious, alpha-male-oriented virtual lifestyle. Imagine exclusive virtual countries with citizenship determined by holding DLUME coins. These digital nations even have tax systems that require residents to use their coins to maintain their status. Social interaction is highly encouraged, with users earning DLUME for active participation and even receiving a “basic income”—but with a twist! This income can only be used for tipping others, fostering a unique social economy.

>>Click here to visit DarkLume VR

Why It Could Explode: DarkLume offers a unique and potentially addictive blend of social status, luxury experiences, and gamified economics. If it can build a strong community obsessed with attaining virtual prestige, the demand for DLUME could surge. However, some may find the concept exclusionary or the “wild activities” mentioned in the whitepaper to be a cause for concern.

3. SimuGaze (SGAZE): Gear Up for the Ultimate VR Racing Experience

Concept: Buckle up for heart-pounding VR racing! SimuGaze offers a comprehensive motorsport experience across various disciplines – Formula 1, street racing, rallying, and even motorcycle and truck racing. Players can test their skills on iconic tracks or hone their craft with realistic vehicle simulations.

>>Click here to visit SimuGaze Presale Page Key Information from the White Paper:

Tokenomics: A total of 13.78 billion SGAZE tokens exist, with 50% allocated for the presale, 20% for development, and 30% for marketing/liquidity and community rewards.

Earning & Spending: Players can earn SGAZE through in-game activities, tournaments, and challenges. These coins are used for purchasing vehicles, upgrades, access to premium content, and even participating in races with wagering capabilities.

Why It Could Explode: Racing games have a proven track record of success, and VR promises to revolutionize the genre. If SimuGaze delivers high-quality VR racing across diverse disciplines and fosters a competitive online community, SGAZE could become a top contender in the VR metaverse.

Decentraland (MANA): A Pioneering Metaverse with Established Value

Concept: Decentraland is one of the first visionary creators to join the VR metaverse. It has a lively virtual world where people can own land, build events, and sell (monetize) the things they create.

Why It Could Explode: Decentraland’s longevity and well-known brand give it a strong foundation for future growth. But its success depends on how well it can develop new ideas and keep loyal players in a market that is getting more competitive.

The Sandbox (SAND): The Power of Creativity in the Metaverse

Concept: The Sandbox NFT allows you choose and play (create) as per your strategy, only with Ethereum as its currency. This platform empowers users to construct interactive games and worlds and monetize their creations.

Key Information from the White Paper:

User-Generated Content Focus: The Sandbox whitepaper likely emphasizes its tools for creating virtual assets, games, and experiences that can be traded within its marketplace.

Token Utility: SAND tokens likely facilitate purchases, sales, and participation in the virtual economy, including land ownership and governance activities.

Why It Could Explode: The Sandbox appeals to a wide audience that loves creativity and world-building. Its ability to attract both players and creators could result in a sustainable ecosystem where SAND tokens are in constant demand.

Important Notes for New Investors

Do Your Homework: While these projects offer immense potential, they are still in their early stages. Thoroughly research their whitepapers, follow their progress, and invest what you can afford to lose.

Risks Are High: VR and the Metaverse represent the future, but individual projects may not live up to expectations. Approach these investments cautiously.

The Market is Volatile: Cryptocurrencies, including metaverse coins, experience significant price fluctuations. Be prepared for short-term swings and focus on the long-term vision.

The Future is Yours to Shape

These five coins are just the start of a thrilling new revolution. Virtual reality and crypto are converging to create a potential investment goldmine. Darklume, SimuGaze, and 5thscape, in particular, offer unique benefits and massive potential for early adopters.

Now is your chance to do more than watch the Metaverse grow—you can become an early adopter or an enabler! If you invest these coins wisely (as an investor), you’ll be at the heart of a digital change and help new ideas grow.

Don’t let this opportunity go by; invest in the Metaverse today and shape your financial future! The time to act is now!

The post Unlock the Future: Top 5 VR Metaverse Coins Set to Explode in Value appeared first on Coinfomania.

The Hong Kong police have arrested three suspects over defrauding a customer of HK$1 million worth of USDT. The case which was reported over a month ago has now seen the perpetrators detained according to a recent report. Locals have been cautioned about using only licensed crypto exchange shops to avoid similar stories in the future.

Three Crypto Exchange Shop Workers Detained

In a recent development, the Hong Kong police apprehended three cryptocurrency exchange shop workers on May 14 after swindling a local customer of his money, up to the tune of HK$1 million worth of the stablecoin USDT. According to a report by Sing Tao Daily, a 35-year-old man previously reported to the authorities on April 14 that he was unable to collect cash after selling the cryptocurrency to the suspects at a shop in Tsim Sha Tsui.

Following this, the Cyber Security and Technology Crime Bureau (CSTCB) of the Yau Tsim District launched an investigation into the matter, analyzing every piece of information presented by the victim. Consequently, on May 13, the three suspects between the ages of 31 and 34 were arrested for “obtaining property by deception.”

Furthermore, the police recovered about 3,000 counterfeit cash, a counting machine, and a money clip at the shop. After more research, it was discovered that the detained guys allegedly presented the victim with three stacks of fake HK$500 banknotes and gave him instructions to move HK$1 million worth of Tether to a cryptocurrency wallet they were providing. However, after getting the virtual money, the suspects avoided giving up the money and fled the area.

Cryptocurrency scams are becoming a growing phenomenon in the crypto landscape. According to a report by Chainalysis, over $24 billion worth of cryptocurrencies were stolen in 2023 by sending to “illicit addresses.” This situation calls for global attention as participants are often reminded that the safety of their digital assets is their responsibility.

Ultimately, the Hong Kong police advise the public to proceed with prudence when carrying out cryptocurrency transactions. They suggest that people pick reliable and licensed exchanges and closely examine banknotes for security features.

The post Three Suspects Arrested in Hong Kong Over HK$1 Million USDT Fraud appeared first on Coinfomania.

Day trading requires you to make split-second decisions to book the most profit possible. Therefore, the right laptop can make all the difference, as it can help you with fast data processing, trade execution, and market monitoring.

To help you make the right choice, our team at Coinfomania reviewed the best day trading laptops in the market and listed the best ones below based on their performance, configuration, and overall value for money –

Dell XPS 15 – Best for Beginners

Apple MacBook Pro 14 – Best for macOS Users

Asus ZenBook 13 – Best Portable Laptop

Lenovo ThinkPad X1 Carbon – Best Build-Quality

HP Spectre x360 14 – Best 2-in-1 Day Trading Laptops

Acer Swift 3 – Best Budget Laptop for Day Trading

Microsoft Surface Laptop 4 – Best for Business Professionals

Alienware M15 R6 – Best for High-Performance Trading

Best Day Trading Laptops

Dell XPS 15

The Dell XPS 15 is a good choice for day traders just getting started, combining good performance and value. This laptop is valued due to its powerful processing capacity, backed with the latest Intel Core processors and ample RAM, guaranteeing the smooth running of trading applications.

The palm rest, made of black carbon fiber, was influenced by aerospace design and is meant to be cool to the touch while still providing maximum strength and the lowest weight. To maximize productivity, the XPS 15 is equipped with a big display, a spacious and ergonomic touchpad, and a keyboard illuminated from edge to edge and with large keycaps.

Specifications

Processor: Intel Core i7-13700H

RAM: 16GB

Storage: 512GB SSD

Display: 15.6” FHD+ (1920 x 1200)

GPU: NVIDIA GeForce GTX 1650Ti

Pros

High-resolution display ensures clarity in chart analysis

Powerful processor coupled with ample RAM to help you with multitasking

Solid build quality

Cons

Slightly costlier for beginners

High-performance configuration reduces battery life

Limited ports for external connectivity

Apple MacBook Pro 14

Apple MacBook Pro 14 is among the best day trading laptops for traders who prefer MacOS due to its high-speed processor and excellent retina display. This laptop is liked by professionals due to its ability to handle trading apps efficiently and ease of multitasking.

It further encompasses a touch ID and light sensor in the room. You can use the Force Touch trackpad to precisely move the pointer and sense pressure. It also supports Force clicks, accelerators, pressure-sensitive writing, and Multi-Touch motions.

Specifications

RAM: 16GB

Processor: Apple M1 Pro

Display: 14-inch Liquid Retina XDR display

Storage: 512GB SSD

GPU: Integrated 16-core GPU

Pros

Stunning display with high color accuracy

Exceptional battery life

Powerful M1 Pro chip, optimized for top-notch performance

Cons

Steeply priced

Limited ports for external connectivity

Ecosystem lock-in and less flexibility with non-macOS software

Asus ZenBook 13

Asus ZenBook 13 is also among the best day trading laptops. Despite being quite compact and small in size, it delivers top-notch performance to handle tedious computing tasks. Unmatched battery life and the lightweight design of this laptop make it an ideal choice for traders who require a high-end but mobile option.

Specifications

Processor: Intel Core i5-1135G7

Display: 13.3-inch OLED FHD

Storage: 512GB SSD

GPU: Intel Iris Xe Graphics

RAM: 8GB

Pros

Incredibly lightweight and portable

The OLED display offers excellent contrast and color accuracy, making it easier to see details on charts and graphs

A budget-friendly option with decent performance

Exceptional battery life

Cons

The lack of a dedicated GPU is not ideal for highly intensive algorithmic trading or complex trading tasks

8GB RAM seems insufficient for complex technical analysis

Lenovo ThinkPad X1 Carbon

With its rugged build and business features, the Lenovo ThinkPad X1 Carbon is perfect for traders who value reliability and state-of-the-art security. Its performance is supported by advanced security functions and a sturdy build.

Specifications

RAM: 16GB

Display: 14-inch FHD+ (1920 x 1200)

Processor: Intel Core i7-1165G7

GPU: Integrated Intel Iris Xe Graphics

Storage: 1TB SSD

Pros

Highly durable build quality

High-performance CPU coupled with 16 GB of RAM for stable performance

Boasts security features like fingerprint readers and TPM chips for enhanced data protection

Cons

Slightly expensive compared to other laptops with similar specs

No dedicated graphics aren’t ideal for demanding graphics work

HP Spectre x360 14

HP Spectre x360 is a perfect choice for day trading due to its 2-in-1 flexibility. It can be used as both a laptop and a tablet, making it ideal for those seeking a portable machine.

Specifications

Storage: 1TB SSD

Display: 13.5-inch FHD touch

Processor: Intel Core i7-1165G7

RAM: 16GB

GPU: Integrated Intel Iris Xe Graphics

Pros

Luxurious design with a thin and light aluminum chassis

Its 360-degree hinge allows you to use it as a laptop, tablet, or tent mode

Durable battery life, allowing you to work for extended periods without needing to plug in

Cons

It is a premium laptop with a higher price tag

Although it is powerful, it doesn’t support many upgradability options

Gets slightly warm under heavy load

Acer Swift 3

If budget is a concern but you still need a decent laptop for day trading, the Acer Swift 3 would be the perfect choice. The base model is packed with a mid-performing configuration, offering you sufficient performance for day-to-day trading tasks. However, I’d recommend going for its 16 GB variant as that would help you with multi-tasking.

Specification

RAM: 16GB

Display: 14-inch FHD (1920×1080)

Storage: 512GB SSD

GPU: Integrated AMD Radeon Graphics

Processor: AMD Ryzen 7 4700U

Pros

Capable processor to handle multiple trading platforms, data analysis, and basic multitasking smoothly

Sufficient memory to run demanding trading applications

The lightweight design makes it easy to carry around

Cons

The integrated AMD Radeon Graphics is not suitable for highly intensive algorithmic trading or complex charting

It slightly overheats under sustained load, impacting performance

The display is not as vibrant as higher-end models

Microsoft Surface Laptop 4

Microsoft Surface Laptop 4 is also among the best day trading laptops. It is a stylish gadget for an elite player who treats form as important as function. It unifies speed, productivity, and an elegant look in a high-performing laptop oriented toward trading and business applications.

Specifications

RAM: 16GB

Storage: 512GB SSD

Processor: Intel Core i7-1185G7

Display: 13.5-inch PixelSense touch

GPU: Integrated Intel Iris Xe Graphics

Pros

The elegant design with a touchscreen display

High-performance Intel Tiger Lake processor for top-notch performance

Good battery life and fast charging support

Cons

Limited connectivity ports

Lack of dedicated GPU

Alienware m15 R6

The Alienware m15 R6 is the best option for those who require extremely high performance to run several heavy trading applications and data streams simultaneously. Its superior specifications guarantee that it can perform the most difficult tasks.

Its dedicated GPU ensures that you can run tasks that require heavy graphical computational requirements. It is especially important when working with complex trading algorithms and charts in order not to miss any price movements.

Specifications

Storage: 1TB SSD

Processor: Intel Core i7-11800H

Display: 15.6-inch FHD (1920×1080)

RAM: 32GB

GPU: NVIDIA GeForce RTX 3060

Pros

Exceptional processing power for running multiple demanding trading applications, complex technical analysis with heavy data feeds, and smooth multitasking

High-resolution display provides excellent clarity, sharp visuals, and a smooth user experience

Offers upgradability options, including RAM and storage

Robust build quality with premium materials like magnesium alloy chassis

Cons

Being a gaming laptop, the m15 R6 is a bit heavier and thicker

Offers a very decent battery life

Razer Blade 15

The Razer Blade 15 is a sleek, high-performance laptop featuring a 15.6-inch QHD display with a 165Hz refresh rate, ideal for day traders needing smooth, real-time chart updates. Its Intel Core i7 processor and NVIDIA RTX 3070 GPU ensure effortless multitasking.

Specifications

Processor: Intel Core i7-11800H

RAM: 16GB

Storage: 1TB SSD

Display: 15.6-inch QHD (2560×1440), 165Hz

GPU: NVIDIA GeForce RTX 3070

Pros

2K display with high-refresh-rate for seamless data visualization

Powerful processor and GPU

Sleek, lightweight design

Cons

It is priced on the expensive end

Limited ports for external devices

MSI GE66 Raider

The MSI GE66 Raider is primarily popular for its gaming performance, but its high-end configuration makes it a perfect laptop for day trading. It further supports the multi-monitor option to help you run different data charts on different displays.

Despite being a gaming laptop, it is quite compact. That’s why it gets slightly warm when you put its GPU and CPU under heavy stress, but its ventilation ports do a fantastic job of ensuring you don’t feel that warmth, especially for trading-related tasks.

Specifications

Processor: Intel Core i9-11980HK

RAM: 32GB

Storage: 1TB SSD

Display: 15.6-inch FHD (1920×1080), 240Hz

GPU: NVIDIA GeForce RTX 3080

Pros

Superior processing power for multitasking

Higher refresh rate for fluid visuals

Multiple ports for external monitors and other connections

Cons

Heavier and less portable

Expensive compared to other options

How to select the right day trading laptop for you?

Selecting the right laptop for day trading involves considering several vital aspects –

Processor: The processor is the heart and soul of your machine. When it comes to laptops for day trading, the processor should be powerful enough to handle multiple applications and browsers. I’d recommend going for at least a 12th-generation Intel Core i5 or equivalent processor.

RAM: When it comes to RAM, always consider picking the one that offers the highest frequency. Since we are talking about laptops, you should go with a configuration that offers around 16 GB of RAM clocked at around 3000 MHz. In my opinion, 16GB RAM would be more than sufficient for mid-level multitasking.

Storage: Always choose laptops with SSDs as primary storage devices. SSDs offer significantly faster read and write times, improving application load time while boosting overall performance.

Display: You don’t always need a 240 Hz display for day trading. I recommend picking a laptop with a decent IP panel display with a higher resolution, according to your budget.

GPU: GPU is arguably the most important thing for day traders, especially for those who use their laptops for complex technical analysis with heavy data feeds and graphically demanding software. If that’s the case, go with a laptop that boasts 4 GB GTX 1650 or equivalent GPU.

If your goal is to build a dynamic crypto portfolio with day trading, I’d recommend investing at least around $1000 to buy a day trading laptop. At that budget, you can get the best configuration needed for most day trading tasks.

However, if your trading needs require you to run multiple CPU and GPU-demanding trading applications, complex technical analysis, and highly intensive algorithmic trading tasks, then you should consider going for a desktop computer for day trading.

FAQs

What is the best laptop for day trading stocks?

The best laptop for day trading entirely depends on your budget and needs. That said, if you have a good budget, then the Alienware m15 R6 is the perfect laptop for day trading, as it boasts a high-performance configuration.

What kind of laptop do I need for day trading?

Since companies don’t design laptops specifically for day trading, you should go with laptops that offer powerful performance and good specs.

Can you day trade with just a laptop?

Yes. You can day trade with just a laptop. Just ensure that your laptop meets the required performance criteria.

The post 10 Best Day Trading Laptops in 2024 appeared first on Coinfomania.

New European Union regulations may soon force decentralized finance (DeFi) protocols to face significant decisions. At the center of this issue is the tendency of many DeFi protocols to utilize centralized front-ends and intermediaries, raising questions about their compliance with upcoming laws.

MiCA’s Impact on DeFi Protocols

The EU’s Markets in Crypto-Assets Regulation (MiCA), set to take full effect by the end of 2024, mandates that DeFi protocols adhere to the same licensing and Know Your Customer (KYC) requirements as traditional financial services. This could present a substantial challenge for many DeFi protocols, potentially making compliance difficult or undesirable. Rune Christensen, co-founder of MakerDAO, highlighted the implications of MiCA, noting that DeFi protocols would be left with two primary options: fully decentralized, local, downloaded front-ends, or fully KYC-compliant online front-ends.

This regulatory shift forces DeFi protocols to choose between a somewhat centralized “hybrid finance” (HyFi) model to comply with EU regulations or complete decentralization. The EU regulation stipulates that fully decentralized protocols are exempt from MiCA requirements, as stated in Recital 22: “Where crypto-asset services are provided in a fully decentralized manner without any intermediary, they should not fall within the scope of this Regulation.”

Defining Decentralization

Oliver Völkel, an attorney and partner at Stadler Völkel, has extensively studied the EU’s regulation of crypto assets. He points out that the regulation raises immediate questions about the definitions of “without an intermediary” and “in a fully decentralized manner.” According to Völkel, smart contracts used in providing crypto-asset services do not necessarily create the appearance of exclusive decentralization, as companies can use these contracts to provide services in their name.

Only natural persons and legal entities can hold rights and obligations, make and receive legal declarations, and be subject to laws like MiCA. However, Völkel believes that EU lawmakers correctly acknowledge that none of these conditions apply if a crypto-asset service can be accessed without an intermediary in a fully decentralized manner. With MiCA coming into full force by the end of 2024, DeFi protocols in Europe must decide whether to fully decentralize, thus avoiding regulations, or implement KYC measures like any other centralized financial service provider.

Nathan Catania, a partner at XReg Consulting, a firm specializing in crypto-asset regulation, suggests that this regulatory wave could divide the DeFi sector. He believes that regulation represents a crucial juncture for many DeFi projects, pushing them to either embrace full decentralization and operate outside regulatory boundaries or accept some level of regulation and transition towards a hybrid finance model. 

Practical Steps for Decentralization

For those choosing decentralization, MiCA will provide clearer guidelines on building truly decentralized applications that comply with regulatory requirements. Many DeFi protocols will need to reevaluate their business models to ensure they remain compliant. Catania advises DeFi projects to thoroughly understand the regulation and engage with national regulatory authorities to protect their interests. One workaround for ensuring decentralization is decentralizing website front-ends through peer-to-peer (P2P) web hosting, which uses advanced cryptography to deploy websites on P2P servers.

Regardless of the path chosen by a protocol, regulation is becoming an unavoidable reality. Advocates of decentralization might witness DeFi evolving into something closer to traditional finance, the very sector they originally aimed to disrupt. The question remains whether the industry will thrive in a decentralized digital universe or if the influx of capital from traditional market players will transform the sector.

Growing Regulatory Attention on DeFi

As the DeFi sector matures and gains popularity, regulators are paying increased attention, exemplified by the EU’s MiCA and the United States Securities and Exchange Commission’s actions against prominent DeFi protocols. On April 10, 2024, Uniswap became the first decentralized protocol to receive a Wells notice, indicating regulatory infractions.

Hayden Adams, CEO of Uniswap, expressed his frustration, feeling “annoyed, disappointed, and ready to fight.” Adam Simmons, chief strategy officer at DeFi platform Radix, believes that some safeguards are necessary, predicting that regulatory requirements for DeFi are inevitable, especially if the sector aims for global adoption.

Today @Uniswap Labs received a Wells notice from the SEC.

I’m not surprised. Just annoyed, disappointed, and ready to fight.

I am confident that the products we offer are legal and that our work is on the right side of history. But it’s been clear for a while that rather than…

— hayden.eth (@haydenzadams) April 10, 2024

Edward Adlard, CEO of Instalabs, sees the next evolutionary step for DeFi as attracting institutional and traditional finance money. However, he identifies two main obstacles: traditional finance companies are not operationally equipped to use crypto tools, and they need to figure out how to legally access and offer these products to clients. Adlard suggests that DeFi DApps need to balance implementing Anti-Money Laundering (AML) procedures to attract traditional finance liquidity without becoming targets for regulatory action.

Tools for Compliance and Future Adaptation

Compliance tools are already available. Simmons mentions that the DeFi sector in Europe could employ a system of trustworthy issuers to handle ID verification independently. Adlard notes that DeFi KYC service Instapass could create custom credentials that meet EU regulations, allowing DeFi DApps to restrict access to specific parts of their products based on user credentials.

Ultimately, whether a DeFi protocol pursues institutional adoption or complete decentralization, it must adapt to the evolving legal landscape in the European Union.

The post DeFi at a Crossroads: New EU Regulations Poses Risk to the Future of Decentralization appeared first on Coinfomania.

Israeli fintech company Kima and Mastercard’s FinSec Innovation Lab have initiated a project aimed at bridging decentralized finance (DeFi) tools with traditional financial services, including credit cards and bank accounts. The endeavor, supported by the Israel Innovation Authority, is designed to bring the concept of a “DeFi credit card” to fruition.

Kima’s Blockchain Expansion

Kima, a peer-to-peer money transfer and payment protocol, operates a blockchain that does not use smart contracts, which it describes on its website as “buggy and experimental.” The company plans to expand its existing protocol and launch a mainnet and token by the second quarter of 2024. FinSec will play a significant role in this initiative by operating a Kima node and becoming a key shareholder in the network.

Supported by the Israel National Cyber Directorate, the Finance Ministry, and the Innovation Authority, FinSec collaborates with fintech and cybersecurity startups. The partnership with Kima, announced in July 2023, focuses on creating a bridge between DeFi and traditional finance, aiming to help users overcome technical and regulatory barriers to DeFi adoption.

Eitan Katz, co-founder and CEO of Kima, emphasized the importance of accessibility and security in the adoption of blockchain and DeFi technologies. According to Katz, these technologies will only gain traction outside the niche world of Web3 if there is a secure, affordable, and easily accessible way to integrate blockchain networks with traditional financial systems. Kima has been expanding rapidly, announcing six integrations and 18 new partnerships in 2024, including ventures in Vietnam and Thailand. The company has also joined the incubator of the artificial intelligence protocol ChatGPT, utilizing AI in its liquidity management algorithm. 

source: Kima Network’s official X profile Mastercard’s Blockchain Initiatives 

Mastercard, meanwhile, is advancing its blockchain initiatives through various collaborations and projects aimed at integrating blockchain technology into mainstream financial services. Recently, Mastercard partnered with major U.S. banks, including Citigroup, Visa, and JPMorgan, to test distributed ledger technology for banking settlements using tokenization.

This collaboration aims to explore the potential of a shared-ledger technology called the Regulated Settlement Network (RSN), which allows tokenized assets such as Treasurys, investment-grade debt instruments, and commercial bank money to be settled collectively on a single platform. This initiative is expected to enhance the efficiency and security of financial transactions by leveraging blockchain to modernize the banking infrastructure.

In Europe, Nexo, a leading DeFi platform, has launched a new crypto Mastercard for citizens in the European Economic Area (EEA). This innovative card enables users to spend their cryptocurrency holdings directly, with automatic conversion to fiat currencies for payments. The launch of this card underscores the growing integration of cryptocurrency into everyday financial activities, providing a seamless way for consumers to utilize their digital assets. The partnership between Nexo and Mastercard represents a significant step towards mainstreaming crypto-based financial products.

Innovation in Central Bank Digital Currencies (CBDCs)

Furthermore, Mastercard is fostering innovation in central bank digital currencies (CBDCs) through a collaborative program involving prominent blockchain companies like Ripple and ConsenSys. This program is designed to explore and promote the development of CBDCs, offering a platform for various stakeholders to research and develop secure and efficient digital currency solutions.

By involving industry leaders in blockchain technology, Mastercard aims to address both the potential benefits and challenges associated with CBDCs, thereby paving the way for their broader adoption and implementation.

These initiatives highlight Mastercard’s commitment to leveraging blockchain technology to enhance financial services, improve transaction security, and promote the adoption of digital currencies. Through strategic partnerships and innovative projects, Mastercard is positioning itself at the forefront of blockchain integration in the financial sector.

The post Israeli Fintech Kima and Mastercard Lab Collaborate to Develop ‘DeFi Credit Card’ appeared first on Coinfomania.

Alexey Pertsev, the developer of Tornado Cash, has been sentenced to 64 months in prison by a Dutch court for his involvement in laundering $1.2 billion. The ruling, delivered at the s-Hertogenbosch court on Tuesday, May 14, marks a significant moment in the fight against illegal financial activities in the cryptocurrency world.

Details of the Court’s Decision

The court’s decision is based on Pertsev’s role in facilitating transactions with criminal origins through the Tornado Cash platform from July 9, 2019, to August 10, 2022. The court highlighted that Pertsev should have been aware of the illicit nature of these transactions, holding him complicit in the illegal activities. This ruling sets a precedent that may affect future trials involving other developers associated with Tornado Cash.

Roman Storm and Roman Semenov, co-developers of Tornado Cash, are also facing similar accusations of money laundering and sanctions violations in the United States. Storm was arrested last year after Tornado Cash was added to the U.S. sanctions watchlist and is scheduled for trial in September 2024. Semenov, however, remains at large with no reported arrests.

The court’s verdict stated that Tornado Cash provided no barriers for those with criminal assets looking to launder money. This statement poses a threat to the privacy features highly valued by the crypto community, as illicit actors frequently exploit such tools. For instance, the Poloniex hackers used Tornado Cash to launder over $53 million worth of Ethereum (ETH). The court’s decision also focused on Tornado Cash’s failure to scrutinize the laundering of criminal assets, leading to Pertsev being found guilty of money laundering. Despite this, Pertsev’s legal team is expected to file an appeal against the verdict.

BREAKING: Tornado Cash developer, 31 year old Alexey Pertsev, is found guilty of money laundering $1.2B through his app by a Dutch court and sentenced to 5 years in prison.

The police also seized all his assets including cars and crypto. They claim Tornado Cash was a tool… pic.twitter.com/wwzOOrvyxr

— Autism Capital (@AutismCapital) May 14, 2024

Background of the Tornado Cash Case

In August 2022, the U.S. Treasury’s Office of Foreign Assets Control (OFAC) sanctioned Tornado Cash, alleging it had laundered over $7 billion in virtual currency since its inception. The platform was specifically accused of facilitating money laundering for the Lazarus Group, a North Korean state-sponsored hacking organization. The Lazarus Group allegedly used Tornado Cash to launder more than $455 million stolen from the Ronin Network, a blockchain linked to the popular game Axie Infinity.

Following these sanctions, Alexey Pertsev was arrested in the Netherlands in August 2022. He faced charges of money laundering, accused of facilitating the laundering of approximately $1.2 billion through Tornado Cash. Pertsev’s arrest and the subsequent legal proceedings have drawn significant attention from the cryptocurrency community, underscoring the legal risks for developers of open-source projects.

Pertsev’s trial took place in the ‘s-Hertogenbosch court in the Netherlands. He was charged with conspiracy to commit money laundering and sanctions violations. The indictment against him detailed his alleged role in laundering substantial amounts of cryptocurrency, including funds linked to major hacks like the Ronin Network exploit. 

Debates on Developer Responsibilities

The case has sparked debates within the crypto community about the responsibilities and legal liabilities of developers. It has raised concerns about the potential impact on innovation and the rights of developers working on decentralized projects. Notable figures, including Edward Snowden, have supported Pertsev’s legal defense, emphasizing the broader implications for privacy and open-source software development.

The sentencing of Alexey Pertsev to 64 months in prison underscores the serious legal ramifications for those involved in facilitating money laundering through cryptocurrency platforms. As the crypto space continues to evolve, this case highlights the ongoing tension between privacy, innovation, and regulatory compliance. The outcome of Pertsev’s appeal, along with the impending trials of his co-developers, will be closely watched by the entire cryptocurrency community.

The post Tornado Cash Developer Jailed for $1.2B Laundering appeared first on Coinfomania.