Ether Cryptocurrency Now Available on the Lykke Exchange
Lykke, a Swiss Fintech company building a global blockchain-powered marketplace, announces the availability of ether, the world’s second most popular cryptocurrency, which can now be found in all Lykke wallets available for trade.
“This is a big accomplishment for the Lykke team,” said Richard Olsen, CEO of Lykke. “With the integration of the Ethereum blockchain, we will bring to our platform a new dimension of trading.”
As of today, all Lykke users will be able to trade ether against all other tokens and currencies in the Lykke exchange. Lykke’s engineers are now working on tokens. By end of summer, Lykke will be an ERC20-token wallet and will be able to engage with all smart contracts on the Ethereum blockchain.
Ethereum has seen a dramatic rise and acceptance as the base currency for most tokens. With the Bitcoin-based Open-Assets tokens Lykke has offered previously and now the addition of Ethereum-based tokens, Lykke will be able to offer more than 95 percent of all cryptographic tokens on the market.
As with all tokens on the Lykke exchange, users hold their private keys in their own wallets. The exchange uses a multi-sig mechanism, which binds the customer’s ether to the exchange for trading purposes. A separate “private wallet” also holds ethers off the exchange. A “cold storage” option is not available at this time.
Learn more at www.lykke.com.
The Value of Bitcoin
Unless you took the self-isolation to the extreme and you ended up practicing social media abstinence, you are assumedly aware of some of the recent events that allegedly led Bitcoin to the all-time highs we are all currently enjoying. So take a big breath while we break down the recent events of the crypto world and what they mean.
FCA - New Regulations Explained
The FCA created a Temporary Registration Regime to concede existing crypto-asset firms, which have applied to be registered with the FCA, to continue trading. It is important to note that this Temporary Registration Regime is only available to existing crypto-asset firms which have applied for registration before December 15th, 2020. New firms will need to obtain full registration with the FCA before conducting business.
What is a crypto-fiat gateway?
A fiat gateway is a combination of words that you will frequently hear if you decide to enter the cryptocurrency world and buy Bitcoin or other cryptocurrencies in a crypto app. To understand its meaning and function, you have to understand what fiat means. Fiat means simply conventional money, it refers to national currencies the government’s issue not backed by any commodity. It derives from the Latin word fiat (from “facere” - make/do, present passive subjunctive “let it be done”) and we can assume that it implies a deal - let it be done!
What is a Coin Burn?
As new tokens are mined and enter circulation every day, cryptocurrencies need to ensure that the market is not oversaturated with supply. After all, prices in the digital currency market are almost entirely dictated by the economic principle of supply and demand.
Reflection on the Journey
September 26th was a very significant day for us since we celebrated our 5th anniversary. With having some time to reflect on what has been done in our journey, we are more than grateful to all our customers, community members, investors, stakeholders, and friends who despite the ups and downs from the bumpy road, remain true to our dream.