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Nigerian President Believes State-Owned eNaira Will Increase Country’s GDP By $29 Billion

Jakkk
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Nigerian President Believes State-Owned eNaira Will Increase Country’s GDP By $29 Billion

Nigerian President Mohammadu Bukhari believes that the state-owned eNaira will increase the country’s GDP by $29 billion in the next 10 years.



Muhammadu Buhari said he has high hopes for eNaira to improve the country’s economic situation. He said that the state’s digital currency will help bring businesses and entrepreneurs out of the FATF “gray” zone.

“By our estimates, the introduction of government-owned cryptocurrency and the underlying blockchain technology could increase Nigeria’s GDP by $29 billion over the next 10 years,” he said.

 

As a reminder, eNaira was officially launched on October 25th. According to Bukhari, eNaira can improve the efficiency of remittances, stimulate international trade, improve access to financial services and make the country’s monetary policy more efficient.

The Central Bank of Nigeria (CBN) began investigating the possibilities of issuing digital naira back in 2017. In August, CBN unveiled preliminary government cryptocurrency issuance guidelines and use cases, and last month the Nigerian government launched a website to test digital naira and digital wallets.

Altair Upgrade Makes Ethereum Hit New All-Time High

Mark Brennan
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Altair Upgrade Makes Ethereum Hit New All-Time High

On Friday, October 29, the price of the second-largest cryptocurrency by capitalization, Ethereum renewed its all-time high, exceeding the $4400 mark.



Over the past 24 hours, ETH has increased by 8.2%, according to CoinGecko. Currently, ETH is trading at $4339 with a market cap of $513.6 billion.

On October 27, Ethereum 2.0 developer Preston Wanlong announced a successful upgrade to the Beacon Chain called Altair.

 

Because of the recent update, ETH was able to make an all-time high because Altair upgrade to the Beacon Chain was recognized as an essential factor that clear the way to the merge with the proof-of-stake (PoS) mechanism and Ethereum main net in Eth 2.0.

Recall that billionaire Mark Cuban said that Ethereum has the largest investment potential among the leading digital assets.

The founder of the second-largest cryptocurrency by capitalization, Vitalik Buterin, admitted the superiority of his project over bitcoin in many ways.

LetsExchange Review: Non-Custodial Exchange Focused on Privacy, Security, and Ease of Use

Mark Brennan
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LetsExchange Review: Non-Custodial Exchange Focused on Privacy, Security, and Ease of Use

LetsExchange is an instant cryptocurrency exchange service launched in early 2021. So, yes, it is a new addition to the wide array of cryptocurrency exchanges. Yet, it targets a specific niche in the industry and offers a distinctive set of features, which helps the platform to find its audience and grow steadily.

The platform focuses on user privacy, security, and convenience. You aren’t required to register an account and pass any verification procedures to start exchanging crypto. LetsExchange doesn’t take custody of users’ private keys and assets, they use their own wallets to send and receive coins. The service doesn’t impose upper limits on the number of swaps or their amount. The exchange process is absolutely transparent: all transactions can be checked using block explorers, and users can download a receipt with transaction data.

Key Features

LetsExchange offers its users a variety of benefits to ensure safe and effortless swaps. With no Know Your Customer (KYC) or registration required, LetsExchange is a great option for those users who prefer to exchange their coins privately. Non-custodial services exclude crypto account hijacking and ensure advanced security of users’ funds. LetsExchange uses multiple liquidity providers to facilitate quick swaps of hundreds of coins and automatically selects the best available rate for every exchange request. Now, let’s have a closer look at LetsExchange features:

Instant swaps without mandatory registration. You aren’t required to register an account (even though you can do so if you want) or to verify it. The exchange enables you to trade as soon as the rate is profitable, without wasting a single second for registration or verification.

The majority of popular coins are supported. With more than 260 coins to swap, you have an impressive variety of cryptocurrency trading options. LetsExchange regularly adds new coins and tokens to its range of supported cryptocurrencies.

No upper limits. The service doesn’t limit the number of swaps or the maximum amount to exchange within a single swap. There are lower limits though, which are usually close to the equivalent of 0.002 BTC in the selected currency. As LetsExchange explains, these limits are set to prevent loss-making transactions for users, when the amount of network fees accounts for a significant part of the total exchange amount. The platform will notify you if you’re trying to exchange an amount below the limit.

Security. LetsExchange doesn’t store your funds. You deposit money from your wallet and receive exchanged funds directly into your wallet. All transactions are performed on-chain. You are the only one who manages and can access your cryptocurrency. The platform applies advanced security measures such as DDoS protection and an SSL certificate to ensure top safety and prevent any information interception.

SmartRate technology. LetsExchange compares exchange rates among its liquidity providers and picks the best deal for you.

Transparency. The exchange process is completely transparent. Users can download a receipt with all swap’s details.

24/7 support. Customer support is available in real-time mode through email and live chat. You can address them your questions and concerns to get fast and professional assistance.

Fixed and floating exchange rates. Users can choose between a fixed rate if they want to get the exact sum that they see stated when the swap is initiated, or a floating rate if they prefer to leverage on market fluctuations. When using the fixed rate option, the amount to receive slightly decreases which means that the platform charges a small fee for volatility risks. Yet, this fee is reasonable if you want to avoid slippage during the execution of your exchange.

User accounts. Those users who prefer the comfort of their own account with extensive functionality, can sign up and enjoy benefits that come with it: a history of transactions, a favorites list, a portfolio management tool, an affiliate program, etc.

LetsExchange History

The platform came into existence in 2020, but it was not until March 1, 2021, when the fully-fledged platform was launched. Even though LetsExchange is new, it has developed a fully functional platform where users from all around the world can enjoy limitless swaps without mandatory registration.

The initial development stage of the platform is completed. The exchange offers its users the needed functionality for effortless and simple cryptocurrency swaps. Detailed statistics, analytics, and personal account functionalities have been implemented already, and new features are being developed and added constantly.

More than 260 coins are available to exchange but the platform doesn’t limit its offer to the available coins only. LetsExchange aims to list more than 350 cryptocurrencies and tokens to make swaps even more varied.

Those users who have a network of crypto enthusiasts can benefit from the LetsExchange affiliate program. The variety of integration options allow you to benefit from every swap that referred users make.

Fees

LetsExchange doesn’t charge withdrawal fees because funds are sent directly to users’ wallets. However, since all the swaps are performed through on-chain transactions, you need to pay network fees as well as liquidity providers’ fees if applied. The total amount of fees depends on the selected crypto pair and is always included in the exchange amount displayed in the platform’s widget.

Supported Countries

No personal information is required to use the platform. It means that the use of LetsExchange is limited only by the regulation of a user’s residence country. As long as the user has a wallet, they can swap coins from literally anywhere in the world.

User Interface

The user interface is absolutely intuitive. This simplicity allows even inexperienced users to perform exchanges without issues. It is clear what information you have to provide, where you have to enter the receiving address, where to make a deposit, and so on. A swap is completed with a few simple steps:

  • Indicate the coin to sell and provide the amount to exchange.
  • Choose the coin to purchase.
  • Choose a fixed or floating rate.
  • Provide the receiving wallet address in the respective field.
  • Make the deposit.
  • Receive the coins in your wallet.
  • Download a receipt with detailed transaction information.

The platform’s UI emphasizes the streamlined exchange process that distinguishes the platform.

Customer Service

Our research of LetsExchange’s communication with users confirms that responsive customer service belongs to the strengths of this platform. It has an excellent rating on Trustpilot and there are a lot of reviews praising the LetsExchange support team for solving issues with swaps even if they were due to users’ mistakes. The team also addresses user requests submitted through Twitter, Reddit, and other social media channels.

Conclusion

With a wide variety of supported coins, top security level, responsive customer support available online 24/7, and other benefits, LetsExchange is a reliable place to swap one cryptocurrency for another. Drawbacks? We would mention one only: you cannot use fiat money for swaps there, neither bank accounts nor bank cards are supported. Other than that, everything works as expected.

Sushi Restaurant in Paraguay Capital Offers 30% Discount If You Buy Sushi With SHIB

Mark Brennan
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Sushi Restaurant in Paraguay Capital Offers 30% Discount If You Buy Sushi With SHIB

Hattori Sushi & Drinks Enters in the Digital World by Announcing Shiba Inu Payments.

A sushi restaurant in Asunción which is the capital city of Paraguay is now accepting Shiba Inu, according to an announcement made on its Instagram page on Thursday.



Hattori Sushi & Drinks will also provide 30% off to customers who make their purchases using SHIB during the month of November.

These moves are designed to draw more buyers in and encourage the growth of SHIB.

In June Paraguay politician Carlos Rejala made headlines for his bill, which some belief was designed to legalize bitcoin. But, Rejala later clarified that the bill was intended to regulate mining, cryptocurrency trading, and other crypto-related activities instead of making an El Salvador-style BTC move.

The bill that when first introduced in July clearly declares that digital assets are not legal tenders, But, later Rejala announced during his presidential race promising crypto enthusiasts to accept Bitcoin as the currency of the nation in 2023.

 

Shiba Inu is being accepted by merchants from all over the world. This week the French bistro started accepting SHIB payments also An Argentine real estate agent made the same move this week. Top exchanges from different countries started to offer SHIB trading.

Another Ethereum Deflationary Day, Where $12 Million More Ethereum Were Burned Than Mined

Albert Brown
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Another Ethereum Deflationary Day, Where $12 Million More Ethereum Were Burned Than Mined

Due to the continuous burning of ETH coins and fees, some Ethereum blocks become deflationary due to high network load, which then leads to high fees.



According to the burn tracking service, $12 million less Ethereum was issued today than distributed, making the whole day “deflationary.”

With the introduction of the fee-burning mechanism, all transaction fees on the network are burned, rather than going into the pockets of miners. Sometimes, due to the high network load, the fees per transaction increase significantly, which then leads to a huge amount of burned coins.

Currently, 16,228 Ethereum were burned today, worth almost $67 million. At the same time, only $54 million was given to the stackers as a reward. Miners received only 2,495 ETH as tips.

ethe burned today

 

Under high network congestion, the base fee stays in the normal range, while the miners’ tip actually goes up. The “transactional auction” is still used on the network, resulting in a significant increase in fees.

Ethereum’s base fee is currently 154 Gwei. Total issuance since EIP-1559 activation remains at $2 billion estimates. The total number of coins burned after EIP-1559 was 654,000 ETH, worth almost $2.7 billion.

Fully Audited Social Networking LOFI-DEFI Lists on Coinstore

Mark Brennan
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Fully Audited Social Networking LOFI-DEFI Lists on Coinstore

LOFI-DEFI: Social Networking + NFT

LOFI is the native token of the LOFI-DEFI platform – a state-of-the-art social networking platform that aspires to create a one-stop global platform for artists, musicians and investors to connect. Currently in development, the LOFI-DEFI platform will feature a proprietary NFT marketplace that allows you to create, mint and market your NFT collections all in one place – the LOFI-DEFI app. LOFI-DEFI does not strive to only benefit artisans – by investing in and building their brand, but also investors of the platform – where the platform acts as an investment channel that can potentially generate exponential returns in the future.

 “LOFI-DEFI connects creators, investors and collectors in a decentralized space where they can buy and sell NFTs. We expect to have a working beta of our platform by December, but as we develop it, we’re bringing in artists and musicians to our website and social platforms where users can discover their work and tip them with LOFI. By making an honest, safe token and an ecosystem where creators have control over their own futures, this is surely just the start for LOFI-DEFI.” – David Cohen, LOFI-DEFI CEO.

LOFI Token Overview

Total Supply: 100,000,000,000

Market Cap: 1,388,800 USDT

Transaction Tax: (5% distributed to LOFI holders, 2% burnt, 1% operations expenses)

Blockchain: BSC

Launch Date: 21 August 2021 (PancakeSwap)

Coinstore Listing: 28 October 2021, 21:00 (UTC+8).

Deposit: 27 October 2021, 21:00 (UTC+8)

Trade: 28 October 2021, 21:00 (UTC+8)

Token Utility of LOFI and Adoption: Mint, Tip, Purchase

Created as the native token of LOFI-DEFI platform, it will be utilised as the unit of exchange between artists, investors, and users of LOFI-DEFI. LOFI has multiple uses as it can be used to tip, subscribe and purchase NFTs from various NFT artists on the platform. ‘Reflection’ contracts are utilised – whenever you utilise LOFI in a transaction, the contract automatically rewards you with a percentage of the token, in proportion to the total supply you own. LOFI can also be staked on BankerDoge with an APY of more than 70% (at time of writing)!

At time of writing, each LOFI token is valued at 0.00002~ USDT. With LOFI-DEFI’s focus on creator projects and unique uses on the digital art NFT segment (NFT markets est. $13.5 b by 2021), LOFI is expected to gain widespread traction and adoption.

A Closer Look at LOFI’s Tokenomics

LOFI’s total token supply is 100,000,000,000, with 8% of every LOFI transaction burnt. LOFI’s tokenomics are as such:

  • 50% tokens used for PancakeSwap liquidity pool – all liquidity pool tokens time-locked for 12 months (from launch date)
  • 10% tokens used for platform development and marketing
  • 40% tokens are scheduled to burn – 2% perpetual burn from each transaction
  • 20 billion tokens burnt at launch, 10 billion tokens burnt from the completion of Phase 1 and 2 of the roadmap, 5 billion token burnt for every roadmap phase completion

For every transaction, 0.5% will be collected in BNB and kept in a LOFI team wallet, with the address publicly available for full transparency of funds allocation. Charitable contributions, fees, costs for development and team member compensation will be made using the team wallet.

LOFI DEFI’s Upcoming Roadmap

 

The LOFI team is fully focused on developing the LOFI-DEFI platform, working on 2 versions, a dApp prototype and a lite version of the website. You can use the dApp as a wallet and a fiat onramp, for easier and more convenient access to purchasing and holding LOFI. A beta version of the app is expected to be released by December 2021.

 LOFI Security and Partnerships

LOFI’s smart contract was audited by Tech-Audit, with a full pass in all sectors. From there, LOFI is currently working on partnerships with crypto-payment companies like Simplex and Moonpay, allowing users to purchase LOFI directly using fiat from LOFI-DEFI directly. Instead of purchasing BNB to swap for LOFI, you can do it directly on the dApp, making purchasing LOFI easier than ever. With the release of the platform, the app will double as a mobile streaming service and content gallery for all of LOFI’s creators.

Interested users can check out LOFI on Coinstore from 28 October 2021 onwards, and be a part of this up-and-coming Social Network + NFT amazing platform.

 LOFI-DEFI Official Channels

Website: https://lofi-defi.com/

Telegram: https://t.me/Lofi_Defi

Twitter: https://twitter.com/lofi_defi

Get $LOFI on Coinstore: https://www.coinstore.com/#/spot/LOFIUSDT

Download the Coinstore app: https://www.coinstore.com

About Coinstore

Coinstore’s goal is to advance the crypto industry to the next level and provide access to popular digital assets to the mainstream public. Encompassing a whole new concept of “fun” in finance, Coinstore plans to make digital assets available for everyone. Still in the early stages, Coinstore welcomes community members and interested influencer partners to collaborate in the up-and-coming stages.

Media Contact:

Charles Tan, Marketing Head, Coinstore

charles@coinstore.com

Liu Yi Yun, Branding Executive, Coinstore

yiyun@coinstore.com

Coinstore Social Media:

Twitter: https://twitter.com/coinstore_en

Telegram Discussion Group：https://t.me/coinstore_english

Telegram Announcement Channel：https://t.me/coinstore_global

Facebook: https://www.facebook.com/coinstore.en/

Website: https://www.coinstore.com

Discord: https://discord.gg/KKHtHa4KPX

Exclusive Interview with Co Founder & CTO, Phaeton

Andrew MacGill
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Exclusive Interview with Co Founder & CTO, Phaeton

1. Please introduce yourself?

I am Chai Shepherd. Co founder & CTO of Phaeton.

2. What is Phaeton?

Phaeton is a blockchain platform aiming to serve decentralized applications to change the world. We are working on a variety of projects like Real estate NFTs, smart homes, blockchain identities, etc. At Phaeton, we have one goal “to make blockchain accessible to every individual and impact the lives

3. What makes Phaeton run on 100% renewable blockchain?

With the Phaeton Blockchain network, we have reduced the energy consumption for transactions in line with the net-zero carbon objective of sustainable development goals. We are building solar farms, hydrogen gas storage, and wind turbines to power our data centers. This is in addition to modular products that come with wrap-around solar solutions. We also use geothermal energy for backups and cooling.

4. What is Phaeton ESG bond exchange? How is it making a difference?

Phaeton ESG Bonds will finance Phaeton’s projects, such as its Green Modular Data Centres, Smarter Housing and Solar Farms. However, the Phaeton ESG Bond Exchange will also be open to the public and governments worldwide, making it a diverse asset offering. Bond market stability is something Phaeton is banking on as bond markets play a significant role in ensuring financial stability for both buyers and issuers. When the stock market hits a correction, the bond market is a far more stable option for generating wealth.

5. Please explain the Phaeton sidechain model?

The main Phaeton Blockchain is a public network that can be joined and accessed by anyone. In addition to that, Phaeton accommodates the creation of Side Chains that allow a private network. When these Side Chains are connected with the main network, they create a hybrid network. Therefore, the Phaeton Blockchain ecosystem can be used to develop an application that requires a public, private, or hybrid network.

The use of Phaeton’s Sidechain ecosystem allows the network to have better performance through enhanced scalability and transaction speed. The encryption and hashing techniques involved in securing the data make it a reliable platform, eradicating the need for additional security measures.

6. How is Phaeton different from other blockchain projects?

First of all, we are not just a blockchain company. Our projects and collaborations are in various other fields. Be it Data centers, Real estate, Solar & Hydrogen farms etc.

If you compare us with other blockchains, today mostly every other blockchain is working on providing a tech environment to host more dapps. On the other hand, we at Phaeton provide an end to end ecosystem that is powered by green energy. Imagine you are getting blazing fast transaction speed along with a low transaction fee and the whole system is operating on green energy. We have an end to end solution, unlike other companies using third party solutions to run and operate their blockchains.

7. What previous experiences does the team have in this industry?

We have a very diverse team. People Energy, Real estate, Engineering are to mention some. In terms of just blockchain, we got an amazing team who worked with various billion dollar projects around the globe. The best part about our team is the diversity! different genders,languages, cultures with a common goal to create something special to impact the lives of all human beings.

8. What is the ultimate goal you want to achieve with Phaeton?

Phaeton focuses on applying its technology to deliver a positive social impact. This core value is used for all projects undertaken by Phaeton. Projects must have a positive social impact. To this end, Phaeton’s has created its Incubator Platform for Social Impact enterprises. In addition, Phaeton, under the motto of “Action Yields Results”, has initiated several of its own branded projects. Team Phaeton is, for example, working on affordable housing, renewable energy, carbon credits, health and wellness, education, social infrastructure, and sustainable agriculture. These are, of course, being built on Phaeton’s own 100% green infrastructure.

9. What is the status of PHAE IEO?

Our round 1 of IEO is sold out. From 17th October round 2 is starting, where 20 millions PHAE will be available at a price of 5$/PHAE

10. What are future listing plans for PHAE coin?

We have 3 Confirmed listings as of now. Moreover 3 more listings are under way.

11. Any message for our readers?

Phaeton is changing the internet by creating the world’s largest decentralized network to protect data and information for individuals and businesses.

To learn more about the Phaeton project visit Phaeton.com

 

El Salvador purchased additional 420 bitcoins

Mark Brennan
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El Salvador purchased additional 420 bitcoins

President Nayib Bukele of El Salvador said on Wednesday that the El Salvador government has purchased additional 420 bitcoins, which brings the total amount bought until now at 1,120 BTC.

 

The latest purchase is estimated to be worth $25 million at the present BTC price.

Bukele first announced that the country bought their first-ever 400 BTC in September. Since then El Salvador has purchased a total of 1,120 Bitcoins. According to President Bukele El Salvador is already in profit from BTC purchases.

 

In the last El Salvador 150 BTC purchase, President gave a Bitcoin trading tip, “They Can Never Beat You If You Buy The Dips.”

 

The month of June was when Bukele said that he would give residents $30 in Bitcoin when they sign up to the government’s cryptocurrency wallet known as Chivo in efforts to convince more people to adopt Bitcoin as their digital currency.

The cryptocurrency got a huge boost following the announcement of their debut U.S. Exchange-traded funds earlier in the month that went live in the New York Stock Exchange under the ticker symbol BITO.

Shiba Inu Surpasses Dogecoin For The First Time Ever, Shib Becomes First Meme Token To Live Up To The ‘DOGE Killer’ Title

Jakkk
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Shiba Inu Surpasses Dogecoin For The First Time Ever, Shib Becomes First Meme Token To Live Up To The ‘DOGE Killer’ Title

Shiba Inu is now officially the biggest canine coin after surpassing Dogecoin.


 

According to CoinGecko data, SHIB’s current market cap is $37.8 billion, which is $936 million higher than that of DOGE.

SHIB has managed to cross USD coin and Dogecoin to gain 9th position.

Dogecoin, the meme cryptocurrency supported by Elon Musk, has now been pushed out of the top 10. Shiba Inu Becomes First Meme Token To Live Up To The ‘DOGE Killer’ Title.

 

The centibillionaire is widely considered to be responsible for Dogecoin’s massive surge in early 2021, but his recent tweets about the coin have failed to make a ripple.

Shiba Inu reached a new all-time high for the first time since May on Sunday, but it quickly shed some gains after Musk tweeted that he didn’t own any SHIB tokens, putting months of speculation to bed.

The snub, however, has failed to stop Shiba Inu’s blistering rally, a sign of Musk’s dwindling influence over the cryptocurrency market.

SHIB is up 800% this month, crushing other altcoins.

Read More On SHIB:

Dubai Financial Regulator Approves Bitcoin Fund Which Is First Registered Product Of Its Kind In The Middle East

Mark Brennan
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Dubai Financial Regulator Approves Bitcoin Fund Which Is First Registered Product Of Its Kind In The Middle East

Launched by Canadian firm 3iQ Digital Asset Management, the Bitcoin Fund (QBTCu.TO) is the first registered product of its kind in the Middle East.



The BTC fund got approval from Dubai Financial Services Authority (DFSA), writes Trade Arabia.

The investment declaration of the fund involves buying bitcoin and investing in USD-denominated money market instruments.

The bitcoin fund is interchangeable between Nasdaq Dubai and the Toronto stock exchange. The fund is also available to all kinds of investors.  3iQ has appointed Canaccord Genuity and Dalma Capital to arrange regional offering of the fund while BHM Capital was appointed as a fund liquidity provider.

In line with the approval of the offering, the Bitcoin Fund is now in a position to list up to $200 Million worth of units on Nasdaq Dubai which will allow the Middle East’s first listed digital asset product to be able to deliver on the growing demand from regional institutional investors.

Frederick Pye, Chairman, and CEO, 3iQ Digital Asset Management said:

“We are extremely proud to have received the approval of the ATM program from the DFSA. Since we listed The Bitcoin Fund on the Nasdaq Dubai, we have seen an ever-increasing appetite from the large regional institutional investors. With the ability to now execute significantly larger sale offerings we anticipate that this will help to further grow the fund in the region,”

As a reminder, in September, the UAE Securities and Commodities Authority and the Dubai World Trade Center Administration (DWTCA) entered into an agreement to support cryptocurrency trading and related services in the DWTCA Free Zone.

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