The FinTech sector has been on fire over the course of recent months and it looks like that trend will continue for quite some time. Part of that success can be attributed to the interest of banks in FinTech solutions, as the financial sector is prone to disruption. More investment funds are expected to flow in over the next few month, most of which will be coming from Chinese firms.
It looks like the big exchanges are looking to add “smaller” coins lately. While this is a very interesting development, it also poses the question “why now?”. Regardless of that, it’s good to see XC on BTER!
A lot of XC community members had contacted bigger exchanges, including BTER, and asked if they could add XC to their trading pairs. Apparently, this worked out quite well which is refreshing to say the least.
Most of us have realised that there is more money flowing into Crypto coming from Asia, or more specifically, China. While the US is still being considered to be the “Crypto Hub”, they are steadily losing ground.
The first ever three-day convention about mining, Bitcoin and other Crypto was held in Shenzhen this week. This convention, first labelled as a private gathering, demonstrated just how integral & important the region is for the world’s digital currency hardware infrastructure.
We have it from a credible source that told us “that the event was perhaps one of the most impressive conventions he had visited due to the sheer number of industry representatives present”. Our source guessed that the attendees were good for 30-45% of the world’s Bitcoin hashing rate.
Robocoin has made its debut in China with their first Bitcoin ATM ever in China. Robocoin is a Las Vegas-based online bitcoin banking provider and ATM manufacturer and thought the time was right to launch a BTC ATM in China.
Robocoin indicates that Chinese consumers can now buy and sell Bitcoin for Chinese yuan at Beijing’s Satoshi Plaza which is a 1,000-square-meter Bitcoin meetup space.
“This will increase the awareness of Bitcoin and Robocoin even further than it already has and can possibly “nudge” the Chinese government into embracing Bitcoin as a viable digital currency” CEO Jordan Kelly told us.
Less than a week after a fake Chinese news report sent Bitcoin and Litecoin prices plummeting on some exchanges, there is another similar rumor which can be found on the Internet. This unconfirmed report states that “the Chinese government would penalize any bank transacting with Bitcoin exchanges after 15th April ” This “news” started to break around mid-morning China time on Thursday March 27th.
The reasons that are mentioned are the same old dilapidated reasons the critics of cryptocurrencies are spewing on the internet. Some of these “aforementioned reasons” are: money laundering, crime, price volatility and investor risk.
One of the most important factors when attempting to make YOUR coin a (great) success, is to get it in the hands of as many people possible. Rumor has it that China has the biggest population in the world. Now, I don’t own a PhD in rocket science, but to me it seems that spreading word of your coin in China might just be the best idea you’ll have in your entire life.