DeFi is an abbreviation for decentralized finance and is a set of services found in traditional finance implemented on the blockchain. The vast majority of DeFi activity is occurring on the Ethereum blockchain but this will most likely evolve as the ecosystem matures. The DeFi ecosystem is based around the ERC-20 token standard.
If you were frustrated by the recent Robinhood outage or stock halts that lasted multiple hours, you might be considering how you can move your stock off of the brokerage to another. Good news for you: You can do that if you want! Bad news: Robinhood charges a fee.
2021 has been the year of a fundamental shift in Bitcoin interest, with various institutions — namely publicly-traded US companies — buying up Bitcoin in droves. It started with MicroStrategy and Square, and continues today with Marathon Patent Group.
Just a couple weeks ago, Nextech AR Solutions announced it was buying $2 million in Bitcoin as part of a “new capital diversification and allocation strategy”. Well, that didn’t last long. Today the company sold all its Bitcoin holdings because of a misleading news story that projected a fundamental misunderstanding of blockchain technology.
Bitcoin and Tesla. At face value, these two things have almost nothing in common. One is a blockchain-based cryptocurrency (cryptoasset?) and Central-Bank-replacement-hopeful. The other is a burgeoning maker of electric vehicles and energy-company-hopeful. And yet, they share much of the same space riding the retail investing airwaves and Twitter memes.
Yesterday the report of the first verified Bitcoin double-spend was making the rounds. BitMex Research posted details of the incident via Twitter. For several minutes the transaction in question showed up in two separate blocks but in the end the protocol worked as designed.
Ethereum has started 2021 with a bang seeing it’s price double in the past 3 weeks. Ethereum usually follows bitcoin’s lead in price moves but the past few days has seen ETH continue to climb while Bitcoin has been relatively stable. Part of this divergence can be explained by ETH simply playing catchup with Bitcoin but there is also growing excitement around the ecosystem and its price potential.
The Office of the Comptroller of the Currency (OCC) has just announced the provisional approval for the Anchorage Trust Company to convert to the first federally chartered digital asset bank. This lays the ground work for the new entity, Anchorage Digital Bank, to offer services that so far have been limited to fiat currencies.
Robinhood is a beautiful app (and website) that has helped many make their first investments. Their app makes it incredibly easy to go from having no experience in exchanges to making your first trade. But should you day trade crypto, and if so, should you do it on Robinhood?
One of the main appeals to owning crypto assets is that you can store it in an offline wallet, with no intermediary needed. Unfortunately, Robinhood makes this process impossible because they sell the ability to invest in crypto but not the actual tokens. This means that in order to securely store crypto in a wallet, you will have to sell your position on Robinhood and repurchase it at a physically delivered crypto exchange.