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Bitpanda Going The Binance Way, Issuing Own Token


As cryptocurrencies get more attention, it’s
now a supremacy battle between cryptocurrency exchanges. To win the fight,
exchanges have over time created unique products to help them appeal traders.

For example, Binance, a leading crypto exchange in the world, introduced its native currency, BNB, that would, among other things, enable its holders to enjoy a discount when trading. To top it up, they recently launched their mainnet and an initial exchange offering platform via the Binance Launchpad.

Because of this, their recent coin support is gravitating away from ETH fueling rumors that Changpeng is probably sidelining Ethereum as a competing crowdfunding platform in favor of BNB.

Shedding Boundaries

Expectedly, other exchanges are on a similar
path. Bitpanda, a virtual currency exchange based in Europe,
is the latest to join the bandwagon. Last month, the exchange announced that it
would launch a global exchange.

According to Bitpanda’s CEO, Eric Demuth:

“Offering experienced users a way to trade digital assets and building the largest Euro exchange is the next logical step for us. Bitpanda has been around since 2014, and we are a key player in Europe. We can build on a lot of synergies and experience.”

The launch of its global exchange was accompanied
by an initial exchange offering (IEO), which was a first for Bitpanda. The
Bitpanda Ecosystem Token (BEST), as with Binance coin (BNB), would see its
holders benefit from “perks within the Bitpanda ecosystem.” For instance, BEST
holders will see up to 25 percent reduction on their Bitpanda trading fees.

Holders Are Divided Into Levels

Apart from a reduction in trading fees,
rewards for holding BEST are divided into three levels. Level 1, 2, and 3 are
differentiated by the amount of BEST bought. For instance, level 1 requires a
minimum of 5 BEST, level 2 a minimum of 50 BEST, and level 3 a minimum of 500
BEST. Each level has its own benefits.

Demuth said:

“BEST will play a vital role in Bitpanda’s global expansion and in making our vision democratizing personal finance and investing. BEST is the fuel of the Bitpanda ecosystem, which means that the Bitpanda platform, the Bitpanda Global Exchange, and future products like Bitpanda Launchpad will make heavy use of incorporating BEST.”

The BEST token public sale was launched on
July 9th with 500 million tokens out of the total 1 billion tokens up for sale.
Since launch, the exchange has sold 60 percent of the 500,000,000 with each
token retailing at €0.09.

Bitpanda Launchpad

Another way Bitpanda is emulating Binance is by developing a crowdfunding platform dubbed Bitpanda Launchpad. The platform is designed to enable startups to attract capital by issuing an initial exchange offering.

As per the exchange, the IEO platform will “be a user-friendly process to guide investment opportunities and companies through a simple issuing process and successful launching of their individual token offering.”

Additionally, like Binance:

“This service will enable companies to launch their token offering with a combined listing on Bitpanda Global Exchange and direct access to a large user group on Bitpanda. Bitpanda users will get direct access to invest in these IEOs on the Bitpanda digital investment platform.”

The popularity of Binance Coin and the Binance Launchpad has led other leading exchanges to follow the same route. With the recent being Bitpanda, other top exchanges like BitMax, KuCoin, Huobi, Bibox, and OKEx and among a host of exchanges that have already launched their own token. Additionally, these exchanges have developed IEO launch pads to command the spotlight.

The post Bitpanda Going The Binance Way, Issuing Own Token appeared first on Ethereum World News.

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Zcash Uniquest Choice as a Bitcoin Alternative: Edward Snowden

Snowden briefly shared his thoughts about cryptocurrency in a thread posted on Twitter, stating that “Zcash’s privacy tech makes it the most interesting Bitcoin alternative. Bitcoin is great,” he added, but “if it’s not private, it’s not safe.”

Despite community and mainstream belief, Bitcoin’s transactions and its technology is not very anonymous as in the act of a currency, while using blockchain tracing software law could establish the identities of individual wallet holders. There are services like cryptocurrency tumblers that could be used by privacy-conscious to mask transactions, however the features often charge a fee and many are not aware of its existence. The Segregated Witness (SegWit and the malleability fix) is predicted to add privacy features to the network but it could take time.

When asked about his thoughts on Monero, another prominent cryptocurrency that advertises the ability to make anonymous transactions, Snowden stated that it was a “great project, but the problem with amateur crypto is mistakes happen and have huge consequences for people like me.” Because Zcash was created by professional academic cryptographers, he feels more confident that the technology is truly secure.

Snowden’s comments echo those he has made in the past. In 2015, he stated in an interview that “Bitcoin by itself is flawed,” citing concerns over the ability to directly link addresses to a person’s identity, as well as the perceived threat of 51% attacks. Last year, he apparently mentioned Zcash as a “solution to the surveillance risks of Bitcoin” during a video conference talk, according to Zcash founder Zooko.

Zcash is now in the 15th place as the largest cryptocurrency by market capitalization trading at a price of $288. This week – with no fault of its own – the digital currency took stage after a Bithumb employee and his or her associates allegedly initiated in insider trading before the news that the Korean Exchanges would add Zcash to its platform.

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