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FCF Pay Enables Merchants Worldwide To Accept Terra Classic As Payment

Mark Brennan
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FCF Pay Enables Merchants Worldwide To Accept Terra Classic As Payment

 

FCF Pay lists Terra Classic (LUNC).



FCF Pay, a cryptocurrency payment gateway, has added support for Terra Classic (LUNC) to enable people to use the token as a payment method. The development was shared yesterday by reXx, the admin and marketing representative of Terra Rebels.

ReXx announced the development on Twitter yesterday: “Thank you @fcfpay for listing Luna Classic as a currency.” 

LUNC Joins Other Top Cryptos on FCF Pay

Through the development, LUNC has joined the list of FCF Pay’s supported cryptocurrency assets, including Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Dogecoin, Shiba Inu (SHIB), Ripple (XRP) etc. 

FCF Pay is an e-commerce payment solution that allows users to pay for goods and services using cryptocurrencies. The Canadian-based payment solution has been adding support for top cryptocurrencies with huge communities. 

Some of the tokens in this category include Shiba Inu, Bone ShibaSwap, and BabyDoge. It is not surprising that the payment provider has added Terra Classic to its supported crypto assets. Recall that LUNC became a community-led project after the Terra ecosystem crashed in May.

The cryptocurrency can now be used as a payment method across multiple online stores since FCF Pay supports major e-commerce platforms such as Magento, Woo Commerce, Prestashop, Adobe Commerce, etc.

LUNC Holders React

The announcement has put smiles on the faces of many LUNC investors, who took to Twitter to express their reactions. @Rahimtk30 writes:

@Paj21Lukasz Said:

The Terra Classic community has eagerly anticipated more utilities for the LUNC to drive adoption. LUNC holders believe more adoptions will also boost the cryptocurrency’s value.

Since the transactions will be completed on-chain, the 0.2% tax burn will also apply to all LUNC payments, thus contributing to the ongoing burn program. At the time of writing this line, the ongoing burn program has succeeded in incinerating 26.4 billion LUNC tokens from Terra Classic supply.

According to Coingecko data, a unit of LUNC is trading at $0.00022 at press time. The token is down 6% in the last 24 hours following the recent dip in the crypto market. 

Dogecoin Creator Makes Up With Cardano Founder After Heated Debate

Mark Brennan
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Dogecoin Creator Makes Up With Cardano Founder After Heated Debate

Markus and Hoskinson bury the hatchet.


Dogecoin co-creator Billy Markus and Cardano founder Charles Hoskinson have decided to bury the hatchet following a heated exchange on Twitter on Sunday.

Markus reached out to Hoskinson in a tweet earlier today, implying that he respected the Cardano founder’s work while asserting that he was “overly hostile” in his response. Notably, the Dogecoin co-creator concluded by wishing the Cardano creator and the ADA project well.

Meanwhile, Hoskinson thanked Markus for the gesture and apologized for the harsh sentiments he may have also expressed.

As highlighted above, the move comes after a heated exchange between both parties on Sunday. Notably, the Dogecoin co-creator had expressed the sentiment that he did not want Hoskinson to have anything to do with DOGE in response to a proposal by Hoskinson to make Dogecoin a Cardano side chain. The sentiments followed statements from Hoskinson last year describing Dogecoin as a mockery of his life’s work.

In response, Hoskinson doubled down, saying DOGE “stereotypes crypto,” highlighting its risk factors.

As highlighted in the previous report, despite their differing opinions on Dogecoin, previous statements indicate that they share a similar appreciation for crypto utility and disdain for crypto price speculation. While both sides patching things up does not automatically broaden the chances of DOGE becoming a Cardano side chain, it is likely to lead to friendlier relations between members of both communities.

It is a positive development in crypto, already riddled with division. Notably, the industry already envisions a feud between FTX’s Sam Bankman-Fried and Binance’s Changpeng Zhao, as Binance has committed to liquidating its FTT holdings.

Unsurprisingly, both communities have welcomed the peace between both crypto developers. For example, one user noted that it was one of his favorite moments on Twitter in a long time.

LBRY vs. SEC: Deaton Believes Ripple Has A Better Chance In Proving XRP Isn’t A Security

Lele Jima
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LBRY vs. SEC: Deaton Believes Ripple Has A Better Chance In Proving XRP Isn’t A Security

Attorney Deaton thinks Ripple will have a different outcome from what LBRY got against the SEC.


Members of the Ripple community have continued to panic following the Securities and Exchange Commission’s recent victory against the peer-to-peer content distribution network, LBRY.

It can be recalled that the SEC sued LBRY in May 2021 for offering unregistered security in the United States. The suit came months after the Securities and Exchange Commission also sued Ripple for violating U.S. securities laws via its XRP offering.

Deaton Calms XRP Holders

Following the SEC’s victory over the decentralized content platform LBRY, many believe the District Judge who presided over the ruling has poked a major hole in the Ripple lawsuit. Thus, spreading panic in the Ripple community.

While the XRP community is restless, attorney John Deaton, the founder of Crypto Law, has tried to calm the situation by highlighting multiple factors that could enable Ripple to have a different outcome in its case against the SEC.

Attorney Deaton agrees that the LBRY ruling is a bad decision. However, he noted that the ruling is not the law, but only an interpretation of the law by a District Judge in the LBRY case.

Reasons Why Ripple Lawsuit Is Different

According to Deaton, the LBRY defense team did not challenge the second prong of the Howey test (common enterprise). In addition, the Defense team did not even request the Judge to differentiate between LBRY’s secondary market sales and the company’s direct sales.

“In the Ripple XRP case, the common enterprise is challenged. In fact, the SEC argued – incoherently – regarding the common enterprise,” he said.

The Crypto Law founder noted that the SEC had claimed that Ripple was the common enterprise. However, the SEC dismissed the claim when it became clear that XRP holders do not obtain legal and financial interests in the Silicon Valley tech company.

The SEC further used an expert witness who claimed that the entire XRP ecosystem was the common enterprise, attorney Deaton said, adding:

“But because XRP holders fought back and supplied 3K affidavits, refuting this alleged expert, the expert back down and testified that he might have come to an entirely different conclusion if he had known what we were declaring in those affidavits at the time he wrote his report.”

Deaton further said the SEC was forced to abandon its expert witness and proceed to summary judgment, asking Judge Analisa Torres to substitute a “but for” test for the “Howey test”.

 

Deaton concluded that he expects the SEC will make a big deal about its LBRY victory in the Ripple case.

Users Can Now Book “W Hotels” Dubai With Shiba Inu

Zabi
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Users Can Now Book “W Hotels” Dubai With Shiba Inu

Shiba Inu holders can now book W Hotels Dubai by using SHIB as a payment on Travala.com.


W Hotels, a 5-star luxury hotel located in Dubai, recently partnered with Travala to allow its customers to pay for booking their world’s most awe-inspiring services with crypto. Through this partnership, W Hotels customers could pay using over 80 cryptocurrencies, including Shiba Inu, to enjoy the private beach with views of the city skyline and the Arabian Gulf.

Travala.com tweet highlighted Shiba Inu: “Hey ShibArmy, check out the WHotels Dubai – The Palm…“

Travala.com is among the early adopters of Shiba Inu and added support for the most popular canine-themed cryptocurrency back on December 7th, 2021. Since then, Travala.com has supported SHIB payments to book over 3 million travel products worldwide.

Most interestingly, Travala.com helped Shiba Inu grow its mainstream adoption, specifically in Dubai, as it is one of the top-booked cities on the platform. Travala.com supports SHIB payments to book numerous services like staying at the most luxurious hotels, dining at some of the best restaurants, and enjoying the wildest activities in Dubai.

New York-based W Hotels is one of the leading chains of luxury hotels famous for its world-class services. W Hotels, a subsidiary of Marriott Hotels, is now providing its breathtaking services at 65 stunning destinations around the globe.

Panama-based App Adds Shiba Inu Payments Via Simplex

Zabi
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Panama-based App Adds Shiba Inu Payments Via Simplex

Shiba Inu (SHIB) can now be bought and used to make payments on the Panama-based ‘KillerPay’ App via Simplex.


KillerPay, the merchant payment processing solution, recently partnered with Simplex to process seamless digital payments. Per the announcement, KillerPay users can purchase Shiba Inu with fiat among 179 supported crypto assets on Simplex. Simplex also made it possible for KillerApp merchants to accept Shiba Inu payments.

Simplex, the fiat/crypto infrastructure powered by Nuvei, is among the early adopters of Shiba Inu that added support for SHIB back on November 4th, 2021. Since then, the platform has helped Shiba Inu expand its mainstream adoption. In the past month, Vietnam-based Coin98 Super App (formerly Coin98 Wallet) and Taiwan-Based fiat-crypto exchange ACE added support for Shiba Inu via Simplex.

Founded in 2021, KillerPay is advanced software that allows hospitality and entertainment luxury merchants to process and handle crypto payments. The transaction is processed instantly with the lowest processing fees, i.e., under 1%.

Further, KillerPay helps merchants expand their customer base by accepting various forms of cryptocurrency. At the time of the transaction, merchants can seamlessly convert crypto payments into their native currency.

CZ Says Binance Still Holds Terra Classic (LUNC)

Mark Brennan
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CZ Says Binance Still Holds Terra Classic (LUNC)

Binance chief let slip that the crypto exchange still holds Terra Classic (LUNC).



Binance chief Changpeng Zhao in a tweet yesterday, let slip that the crypto exchange still holds Terra Luna Classic (LUNC).

He said this while hinting that the company was unwilling to take up Alameda Research’s offer to trade its FTT holdings over the counter at a premium price.

It is currently not clear why CZ volunteered this information.

It is worth noting that at the time of the Terra ecosystem collapse, Binance held 15.4 million LUNC it received from an early $3 million investment in Terra. Notably, at its peak in April, Binance’s LUNC holdings were worth about $1.6 billion. However, today it is worth about $3,388.

Notably, the Binance chief, in a tweet on Sunday, had referenced LUNA while discussing the motivations for liquidating its FTT holdings. As per CZ’s statements, the company did not want to be holding a worthless bag should FTX collapse like LUNA, as concern over a possible FTX insolvency and FTT illiquidity grow. Remarkably, a CoinDesk report last Wednesday first brought attention to the problematic state of Alameda Research’s books before an analysis by Dirty Bubble Media alleged that FTX was employing the same strategies that buried Celsius.

It is worth noting that as questions arose over a transaction that moved $583 million worth of FTT to Binance on Saturday, CZ confirmed that the exchange was behind the transaction. On Sunday, the Binance chief clarified that the move is to liquidate its FTT holdings in light of recent revelations.

While FTX’s Sam Bankman-Fried, SBF, has come out to assure users that the exchange and its assets are fine, many do not want to take the risk after several companies in the industry collapsed this year. Ironically, several of which FTX has tried to bail out or buy out.

Despite all of these, the LUNC community has decided to see CZ’s latest statements as a sign of long-term belief in the community-owned chain. Whether this is the case is anyone’s guess, but it is worth noting that Binance and CZ have continued to communicate with and offer support to the LUNC community. Remarkably, they have sacrificed millions of dollars in trading fees to support LUNC burns.

Dormant Whale Becomes Active To Buy Shiba Inu Dip, Adds 1T Coins

Zabi
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0
Dormant Whale Becomes Active To Buy Shiba Inu Dip, Adds 1T Coins

The dormant wallet became active to buy Shiba Inu.


The Dormant ETH whale woke up to become the 80th biggest Shiba Inu holder by scooping up a staggering 1 trillion SHIB in the past 24 hours.

Etherscan.io data shows a herculean purchase of 1,002,395,000,000 (1T) SHIB, worth $10,916,080 ($10.91M) through three gigantic transactions in the past 24 hours.

ETH Whale Purchase
ETH Whale Purchase

The data reveals that the wallet became dormant after it purchased only 9,900,000 (9.90M) SHIB, worth $107, in one transaction on July 12th, 2022. However, the whale suddenly became active about 4 hours ago and accumulated 10,000,000 (10M) SHIB, worth $108 in its first transaction. Following the small transaction, the Whale spends a staggering $10,915,900 ($10.91M) within the past hour in two back-to-back transactions to add 1,002,385,000,000 (1T) SHIB.

The major ETH Whale now holds a hulk 1,002,404,900,000 (1T) SHIB and is ranked 80th among the biggest Shiba Inu holders.

As per the recent report from WhaleStats, Shiba Inu is retaining its top holding position in dollar value among the top 5000 ETH Whales. They now collectively hold $92,743,696 ($92.74M) worth of SHIB in their wallets.

Shiba Inu is down 11% in 24 hours, trading at $0.00001075, according to Coinmarketcap.

A Comprehensive Cover-Up On NFT Security

Andrew MacGill
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A Comprehensive Cover-Up On NFT Security

Assets are now a matter of tokens. Not just any tokens, but Non-fungible tokens that establish the digital identity for the assets, each being one of a kind. i.e. one token differs from the other, holding a special value attribute that makes them non-interchangeable. 

NFTs are created on standards different from ERC-20, which is the most basic for creating crypto coins. NFTs let users claim ownership of a digital or non-digital piece of asset tracked through the blockchain network. 

NFTs represent the digital rights over, 

  • Digital arts such as GIFs, Music, Videos, gaming collectibles, etc.
  • Real-world properties such as car deeds, concert tickets, etc. 

NFTs are minted through smart contracts that possesses the details of the owner to whom the NFT belongs, the transferability of NFTs during trading, etc. The ownership of NFTs is controlled through a unique ID that points to the metadata of the assets. 

As NFTs are operated through smart contracts, it provides room for many vulnerabilities. Apart from that, the concept of digital ownership over assets that gained great popularity and a wide market for NFTs also makes them potential targets for hacks. 

That makes NFTs vulnerable to a whole lot of security threats which can be classified as follows. 

Categorizing The Threats To NFTs

Token sale vulnerabilities: Undeniably, smart contracts are the underlying governing body behind the execution of the token sale. Anywhere there’s a bug in that smart contract, hackers make use of the opportunity to disrupt the process of the token sale. 

An example of it is a smart contract bug encountered by the famous project CryptoPunks when the sale was happening. Once all the 10,000 punks with rare traits were sold in the secondary market, a smart contract bug refrained from receiving payments, but then the sale happened. 

Smart contract vulnerabilities: Smart contracts does the major part of the work from processing payments to managing the tokens. And so do the vastness of the issue it oughts to deal with. There are various pointers that needs to be checked while coding contracts. 

  • Re-entrancy
  • Timestamp Dependence
  • Gas Limit and Loops
  • Use of tx.origin
  • Byte array
  • ERC721 API violation
  • Malicious libraries
  • Updated Compiler version 
  • Redundant fallback function
  • Unchecked external call
  • Implicit visibility level and so on.

Rug pull scams: Rug pull scams are the trend of Web3 hacks. Users” great expectation and enthusiasm for investing in web3 are exploited by many in the form of rug pulls. One such rug pull event was by the project Cool Kittens, which promised the investors of the cat art with utility value. 

Once the sales spiked, with each NFT token selling at about $70, the hackers rug pulled investors of $160,000. There are many such innumerable instances of rug pulls since the dawn of the Web3 era. 

Private key breach: Private keys that hold access control for user wallets to make payments and store assets, are always at the risk of getting exposed to security breaches. Users are tricked by using traditional phishing links to steal away confidential information and gain control of the coins and tokens held in their wallet.

Marketplace vulnerabilities: Though the marketplace flaw does not correspond to NFT smart contracts, they directly impact NFTS. The loopholes in the NFT marketplace would be used to the buyer’s advantage to make false bids, buy NFTs at the lowest prices, counterfeit NFTs and so on. 

How Auditing Helps In Imparting Security To Web3 Protocols And NFT Assets?

Auditing involves the careful inspection of the code that deals with the security of the millions dollar value of NFT tokens. NFT Smart Contract Auditing covers different aspects and levels of doing the test to ensure flaws are spotted and rectified uprightly.

Pointers on what smart contract audits aims to achieve

  • Identifying coding errors and preventing them from causing any major losses.
  • Optimizing and enhancing the code quality.
  • Ensure the safety of private information and protection of NFTs.
  • Boost user’s confidence on making investments on NFT project.

The Most Crypto-Friendly Countries in 2023

Andrew MacGill
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The Most Crypto-Friendly Countries in 2023

Bitcoin and other cryptocurrencies have become a real revolutionary movement in our technologically advanced world. More than ten years after it started operating, the cryptocurrency market is still expanding globally today.

Many nations have relaxed their previously strict stances on cryptocurrencies in an effort to profit from the evolving global dynamics and to adjust to it. While others are making every effort to rank among the nations with the best cryptocurrency policies.

Due to this unprecedented growth, some nations have developed crypto-friendly policies that favor traders, investors, and enterprises. If you fit one of those descriptions, you might consider booking cheap flights and hotels right now to experience one of these crypto havens.

Germany

Germany has over 2.6% cryptocurrency users and, as of March 2022, a startling 44% of the population is driven to invest in cryptocurrencies, despite the fact that the country is far from being a tax-free cryptocurrency nation. The increased interest in cryptocurrencies may lead some people to believe that the nation is particularly crypto-friendly, but that is not always the case. However, these are the cryptocurrency rules in Germany:

You are required to pay crypto tax in Germany, if:

  1. You generate money using cryptocurrency by mining it or staking it.
  2. Sell the cryptocurrency used for staking within a year.
  3. Sell cryptocurrencies within a year and make over €600 (capital gains tax)

You are not required to pay taxes on your bitcoin gains if you fall under one of the following circumstances:

  1. You’ve owned your cryptocurrency investments for almost a year.
  2. If, after selling your cryptocurrency within a year, you made less than €600

Major airlines fly to Germany multiple times a week from cities around the world. If you need to make connecting flights, smaller, budget airlines like Ryanair, Serene Air, flydubai all make stops at global transit hubs that will connect directly to Germany.

Switzerland

Given its past, it should come as no surprise that it is also the location of the “Crypto Valley,” a crypto hub located in Zug’s low-tax province. Many cryptocurrency companies chose to establish exchanges in Zug since it was among the first cities to genuinely embrace cryptocurrencies and recognize their potential.

Because there is no capital gains tax on the sale of wealth assets in Switzerland, as long as you meet the requirements to be a personal investor, purchasing a cryptocurrency and paying for it with another cryptocurrency is tax-free.

El Salvador

This little nation has approved successive pro-crypto laws in recent years to solidify its position as the leader among crypto-friendly nations. El Salvador is the first nation to use Bitcoin as legal currency as of September 2021, making it a sanctuary for cryptocurrency companies and investors alike.

Nayib Bukele, the president of El Salvador, also intends to construct “Bitcoin City” close to the Conchagua volcano. The sole cryptocurrency tax in El Salvador is a 10% VAT that goes toward financing city development and services.

The government of El Salvador has also exempted foreign cryptocurrency traders from paying income taxes and capital gains taxes on Bitcoin in order to promote international investment.

El Salvador also introduced the El Salvador Golden Visa initiative to further establish its reputation as one of the world’s most cryptocurrency-friendly nations. According to this, if cryptocurrency investors satisfy the minimum investment requirement made in cryptocurrency, they will be granted automatic permanent residency.

Portugal

Portugal is now one of the top nations that welcome cryptocurrency investment thanks to all these rules that have done a great job of luring foreigners seeking a tax-free lifestyle and international crypto investments there.

There is currently no Portugal cryptocurrency tax on cryptocurrency trading, income, or capital gains for the vast majority of investors. Businesses are still required to pay VAT and corporate income taxes.

All of these characteristics would typically make Portugal a nation exempt from cryptocurrency taxes, but there is an exception. The Portuguese Finance Minister had said, as of May 2022, that Portugal would soon impose taxes on cryptocurrencies. However, Portugal’s government has made the decision to avoid taxing cryptocurrency, so those who utilize it can still count  Portugal as their tax haven.

Malta

Given how welcoming Malta’s crypto tax is, the European island nation has solidified its status as a haven for cryptocurrency investors ever since the country established law on blockchain technology and cryptocurrencies in 2018. This has earned Malta the moniker “Blockchain Island.”

Cryptocurrencies are categorized by the Maltese government as “units of account, mediums of exchange, or stores of value”. It means long-term capital gains will not be subject to cryptocurrency taxes in Malta and depending on your income level and tax bracket, crypto trading will be subject to a business income tax of 0–35%. Malta taxes cryptocurrency trading because the country sees the day trading of equities and cryptocurrencies as being similar.

The Future Of Finance Is Here: Buy Crypto With A Bank Card On PrimeXBT

Andrew MacGill
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The Future Of Finance Is Here: Buy Crypto With A Bank Card On PrimeXBT

Following the pandemic, crypto was hailed as the future of finance. Prices went wild but have since corrected and are now trading back and levels from years prior. On the way up, investors wished they had bought in at earlier prices – and now they have the chance! But it is always tough to listen to advice from investing legends and buy when the market is fearful.

However, the future of finance is here, and it isn’t going away. Banks and other institutions are beginning to adopt Bitcoin, and Ethereum is right behind it. Stablecoins like Tether and USD Coin are two additional ways that crypto holders can get exposure to digital assets while enjoying the safety and stability of cash.

All of these coins are cryptocurrencies that can be purchased using a bank card on PrimeXBT. Here is how you can take advantage of low prices and buy the dip in crypto with PrimeXBT.

Why The Crypto Winter Will Lead To Spring Again

Crypto is crashing, but this has happened time and time again, and assets like Bitcoin and Ethereum go on to produce substantial gains with each recurring market cycle. Bitcoin was claimed dead in 2012, 2015, and again in 2018, yet ultimately set new all-time highs each time.

But Bitcoin is now trading at just above $20,000, Ethereum just above its former all-time high of $1,400. These former resistance levels are being retested as support, and if the level holds, these assets will never trade below them again. It will be a sign to the market that these nascent assets are too valuable at this point and will only appreciate in value further.

Bubble Popped, Or Like Investing In The Internet Early?

Even top tech giants of today at one point went through the dot com bubble. Bitcoin has been through several bubbles but has consistently grown more robust due to the network effect. Cryptocurrency adoption is on pace with the internet in the mid-90s. Three decades later, the internet is a more powerful medium than the newspaper.

Some of the most brilliant investors of early internet technologies liken Bitcoin to investing in a piece of the internet. Legends like Paul Tudor Jones suggest it is like investing in Apple or Google in the early days of the web. Much like the future of the internet was happening back then, the future of finance is here now with cryptocurrencies.

Buy The Dip In Crypto With PrimeXBT

Those interested in crypto can buy Bitcoin with a bank card or other cryptocurrencies like Ethereum, USDT, and USDC with PrimeXBT. Both the website and award-winning mobile app offer the ability to buy crypto in only a few clicks or taps. Purchased cryptocurrencies are deposited to a secure crypto wallet, protected by bank-grade security and a hack-proof cold storage solution.

At PrimeXBT, crypto assets can be used as collateral to trade with long and short positions powered by leverage. Risk management tools and charting software are included to help reduce the chance of loss and improve profitability. More than 100 different trading instruments are offered, with both digital and traditional assets like the S&P 500, gold, oil, and a wide range of altcoins and forex currencies.

Protect Capital And Trade With Stablecoins

For investors still fearful of crypto winter, there is no need to sell cryptocurrencies. New crypto investors can also buy USDT and USDC stablecoins to trade with at PrimeXBT, eliminating the risk of drawdown related to crypto market volatility and its impact on base capital. Trading with stablecoins is like staying in cash because these assets are tied to the value of the dollar.

By utilizing stablecoins at a base capital, not only can traders access the complete range of global markets at PrimeXBT, but they can use the coins to access yield accounts for a variable APY on crypto staking or use them as collateral to copy trade top-ranked traders from the Covesting copy trading module.

It Is Still Early For The Future Of Finance

Only cryptocurrencies and the speed and flexibility they provide enable access to the future of finance, both from a long-term investment perspective and from the immediate utility they provide when combined with PrimeXBT trading tools, products, and services. With crypto prices going back years from where they were just one year ago, it is once again plenty early to buy the dip in crypto and get ahead in the future of finance. Buy crypto with PrimeXBT, and don’t miss this opportunity.

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