Three Cryptocurrencies With Signs Of Life In Them

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Three Cryptocurrencies With Signs Of Life In Them

Bitcoin Wallows While These Coin Shine

It is without doubt the Bitcoin rally has fizzled out. For now. The forces driving the Bitcoin are in consolidation and that may take several more weeks if not months. In the meantime, the entire cryptocurrency market has been in retreat and now sitting at attractive price levels for bullish entries. With that in mind I took a look at some of my favorite tokens to see what was going on and was pleased to find bullish activity in quite a few. Don’t let the Bitcoin consolidation fool you, the cryptocurrency market is still alive and the bull is still in charge.

XRP/USD Is Putting In A Bottom

Ripple has long been a darling of the market. A more specialized version of Ethereum, a more advanced form of Bitcoin, Ripple was and is intended to revolutionize the cross-border banking industry. While Ripple has been making significant inroads towards its ultimate goal it just isn’t gaining traction quite the way the market expected. Go figure. The bad news is the coin has sold off to a long-term and key support level near $0.25-$0.30. The good news it is now showing signs of buying at this key level and may reverse trend. Right now what we have is an end to the down trend, what we need to happen is a confirmation of new uptrend. Without that this token is likely to move sideways within the range of $o.25 and $0.3250. A strong move up from the short-term moving average would be bullish, if that happens a retest of the recent high and then new highs are expected.

The Basic Attention Token, Back At Attention

The Basic Attention Token is the native token for the Brave Browser experience. The Brave Browser is a privacy-oriented web browser that allows its users to get paid for watching ads. The browser is gaining popularity and that, along with fresh lows for the BAT Token, has spurred a new round of buying. The token just confirmed support at the $0.1625 level and looks like it could be in for a serious move higher. The daily chart shows a token putting in a bottom and preparing to move higher. Support is being retested at the short-term moving average, if it is confirmed like I think it will be a move up to $0.50 is very possible.

Ripping Higher With Ripio

Ripio is an Ethereum-based cryptocurrency system that allows Bitcoin to be bought and sold on credit. The mechanics of the network are complex to say the least but the basic idea is owners of Bitcoin can sell them to new buyers on credit using smart contracts. The applications of the network are limitless and may well revolutionize today’s debt markets. Until then, the coin is showing some nice signs of bullish activity and is likely leader for the next rally. The coin is up more than 100% in the last week and poised for even bigger gains. The momentum indicator is telling, it shows a nice convergence that suggests a retest of the new high if not new higher highs are coming.

How to Pay With Crypto on Amazon Marketplace

Amazon dominates the world of e-commerce. Once nothing more than an online bookstore, Amazon has grown into a titan of technology and a retail giant, able to compete with the largest brick-and-mortar superstores. It is hard to overstate its influence on the online world.

The digital age has given life to more than only online shopping. Cryptocurrencies like bitcoin and others have emerged as legitimate alternatives to traditional cash, just as Amazon provides an alternative to conventional retail.

It seems natural that the two should go hand in hand. With the convenience of Amazon and the advantages of crypto, why shouldn’t you use them together?

Why Pay With Crypto?

There are more than 5,000 different cryptocurrencies you can choose from with varying attributes, but they all work according to the same basic system. No matter what specific cryptocurrency you use, it runs on a technology called blockchain — a digital ledger that is completely decentralized and unalterable.

Given its novelty and uniqueness, paying with crypto can seem like an intimidating or even suspicious prospect. But crypto’s decentralization means that crypto transactions don’t rely on third parties to verify or process a payment. Without a go-between, there are no extra handling fees like there usually are with banks. The lack of an intermediary also means that the payments take effect instantly instead of waiting on a bank for processing.

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What Does Amazon Accept?

Although many online retailers accept crypto payments, the largest one does not. At least, not yet.

It shouldn’t surprise you that Amazon does not officially accept crypto right now. The company has many standards and requirements for selling and buying products on its website, so it makes sense that it has been slow to accept a decentralized technology. But there may be a few signs that they will accept cryptocurrency in the future.

In 2020, Amazon purchased three crypto-related domain names, and they already offer a couple of blockchain-based services. They also created a currency called Amazon Coin in 2020. But unlike other cryptocurrencies, Amazon Coin does not run on a blockchain, and it never took off.

Even though Amazon does not accept crypto as a form of payment, you can still use it to buy things from them. Several third-party services allow you to spend crypto on the e-commerce giant.

How to Spend Crypto on Amazon

Many of these extensions and sites for using crypto on Amazon work similarly, usually exchanging coins or tokens for Amazon gift cards. Most of them also center around Bitcoin, arguably the most popular cryptocurrency.

Determining the best of these services depends on what appeals most to you. Below, you will find a list of the most noteworthy ones with explanations of how to use them. Even though you may not see your country on the list of accepted regional Amazon sites for these services, as long as the Amazon seller for the item you want ships to your country, you could still use the service.

Service How it works Accepted cryptos Amazon regions
Spectrocoin Use crypto to purchase Amazon gift card Bitcoin only Germany, Italy, Spain, France
Bitrefill Use crypto to purchase Amazon gift cards, as well as gift cards for hundreds other sites Bitcoin, ether, Litecoin, Dogecoin, DASH India, Canada, Japan, Australia, United Arab Emirates
Purse Use crypto to purchase Amazon items on Purse’s site or with browser extension directly on Amazon Bitcoin only United States, United Kingdom, Canada, Japan

SpectroCoin

SpectroCoin offers several cryptocurrency services, including the option to exchange crypto for Amazon gift cards valid in Germany, Italy, Spain and France. By opening a SpectroCoin account, you can use their services as a wallet for bitcoin or other cryptos. On their website, you can fill up your wallet and then select “Top-Up and Vouchers” under the “Withdraw” menu.

The site will then give you a menu to select your country and order a gift card. When you complete the purchase, you’ll instantly receive a voucher code to spend on Amazon.

Bitrefill

Like Gyft, Bitrefill lets you buy various gift cards with bitcoin, ether, Litecoin, Dogecoin and DASH. On Bitrefill’s site, you can select the Amazon voucher you want for either India, Canada, Japan, Australia or the United Arab Emirates, and then choose your desired crypto for payment. The site will then give you a QR code to access through your crypto wallet.

Once your payment is confirmed, you can use your gift card immediately on Amazon.

Purse

On Purse, you can exchange bitcoin for Amazon items on Amazon US, UK, Canada and Japan. On the mainpage, just type in any item you are interested in on Amazon in the search bar, and then add it to your cart.

You can also download the Purse Chrome browser extension, connect it to your Purse account, and then visit Amazon, where you will be shown the price you could save on an item if you pay in bitcoin under the item’s price— you can then click on the Purse widget on Amazon and directly add the item to your Purse cart.

Alternatively, you can add your item to a new public Amazon wishlist. After you make this wishlist and add your desired item, copy the wishlist link under “Send list to others” and paste it into the search bar on Purse’s “Import Wish List” page.

The site also features a slider you can use to search for discounts of a desired amount — the higher the discount, the longer the potential delivery time.

Purse works when “Earners” exchange their own Amazon gift cards for your cryptocurrency, hence the price raise if you want your item faster.

Services You Thought You Could Use to Spend Crypto on Amazon…But You Actually Can’t

In the past, crypto payment processor Moon allowed you to spend your crypto right on Amazon using a similar widget to Purse’s. However, Moon has temporarily disabled their Amazon transactions during their integration with new partners for “Moon v2,” according to their customer support team.

Gyft, which is still an active site that allows you to buy gift cards for hundreds of sites with crypto as a payment option, does not currently have Amazon gift cards available. Although the site was previously one of the ways to pay with crypto on the retail giant, Amazon allegedly stopped accepting Gyft gift cards in 2020.

Crypto exchange platform Paybis also wants you to think that you can use your crypto to buy items on Amazon, but it’s not exactly the case.

Although there is a now-deleted Paybis blog post entitled, “Purchase Amazon.com eGift Card on Paybis.com” from 2020, the current Paybis how-to on crypto-to-Amazon purchases involves you first transferring your funds to your credit or debit card, and then buying an Amazon gift card…which begs the question, isn’t this just you spending fiat directly on Amazon with no crypto in sight?

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Coincheck brings top three cryptocurrencies to institutional investors in Japan

This is not the first time Coincheck is on the news this year.

Japan, the cryptosphere and OTC trading

Japan is a critical trading hub in the cryptocurrency market. A few years ago, the world’s largest exchange was based there until it went down after being unable to recover from a security fiasco. It’s suspected that the 20.000 BTC order that changed the market two weeks ago came from Japan too.

And those are only two of the many reasons for which keeping an eye on the Asian cryptocurrency community in general, and in the Japanese one in particular, serves well those who do.

Coincheck is a digital asset exchange based in Japan which is trying to attract institutional investors through a trading system called over-the-counter or OTC. The system works like this: if you’re an investor with enough dough, you can trade in high volume at a pre-arranged price.

It’s a static price so you don’t need to worry about volatility or price variations as you would do if you were doing the ordinary spot trading that is the standard way of doing business in most platforms.

The new service started on April 1st, and it allowed for Bitcoin trading only. The OTC trading option starts at 20 BTC, but the recommended volume is of 225 BTC which is higher than USD 1 million.

Two coins to join the OTC game

And now, the platform is looking to expand its horizons by offering two more digital assets for trade in OTC mode: Ethereum and Ripple’s XRP. This move probably has to do with the fact that both cryptocurrencies are the second and third most extensive by market capitalization, so they’re quite crucial within the crypto verse.

Trading for both cryptocurrencies starts at about USD 80.00,00, which is 500 ETH or 250.000 XRP.

This novel trading method could be responsible for the bullish run we’ve seen over the last couple of weeks, according to Cumberland, a market maker. It claims it’s traced the price spike on April 2nd to OTC trading (at least partly).

Cumberland identified 13 OTC orders that were each worth more than a thousand BTC, and that were placed inside of an hour. Those conclusions fit with the pattern everybody saw that day (Bitcoin going up by USD 1.000,00 roughly in 60 minutes), so while you don’t need to believe them, they make sense. Other researchers have spoken of three orders placed basically at the same time through three different exchanges at the same time, more or less.

The hack and the new rules

This is not the first time Coincheck is on the news this year as it turned out it played a pivotal role in improving the Japanese legal environment for cryptocurrency trading.

On last January Coincheck suffered one of the crypto verse’s most massive hacks ever. The exchange managed to survive the fraud and the scandal, and it’s found a way to repay its customers for any lost assets. The total refund will be of USD 532 million in stolen

The hack prompted the country’s Financial Services Agency to reconsider in full its regulatory framework. The new rules force crypto exchanges to improve customer security by using cold storage only, which means that all of the platform’s digital treasure chest must be kept disengaged from the internet at all times.

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