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Skrill to Allow Withdrawals Direct to Crypto Wallets

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Not only does Skrill plan to launch the feature in different economic areas, but the company is also in the planning and execution process of adding additional cryptocurrencies to its Paysafe platform in the near future.

There is great news hitting the cryptocurrency and blockchain marketplace today as a major player in the payments industry is making everyone’s life easier and allowing users to withdraw funds directly to a cryptocurrency wallet address.

Skrill, a global payments provider, is allowing this feature to take place on their global digital payments integrated platform Paysafe.

This is a phenomenal step in the right direction for cryptocurrency as it will undoubtedly mean more adoption from retail users of cryptocurrencies on the Paysafe platform. Having this feature in place takes the world one step closer to using cryptocurrencies as a normal and socially accepted means of payment. We would expect this to happen on both sides as the Skrill Paysafe platform has been predominantly fiat currency focused up until this point so when this new cryptocurrency feature is added it will mean that different wallets, distributed across different applications, exchanges, websites and platforms can be easier integrated.

This integration will come as a direct result of users being able to withdraw directly to cryptocurrency wallets as many platforms and exchanges out there currently host their own hot and cold wallets for users, meaning the user can store cryptocurrency on that platform or exchange. Furthermore, users of cryptocurrencies may be more prone to using Skrill’s integrated platform, Paysafe, as it now means they can withdraw their capital in a much easier and more fluid manner.

Details of the Update

For the first time, users won’t even have to convert their fiat to crypto before withdrawing from the Paysafe platform. Not only is Skrill allowing users to withdraw to cryptocurrency wallets but they have also made the entire process that one bit easier by ensuring that a user can withdraw fiat money directly.

This may seem like a small additional feature relative to the ability to withdraw directly but many companies in the payments industry have not yet caught on that this can revolutionize the user experience and process of withdrawing to a cryptocurrency wallet. Think of it in terms of a process flow map. The majority of payments providers that offer crypto and allow you to withdraw firstly require you to exchange your funds into that particular cryptocurrency, which is step one. The second step is to go to withdrawals and request a withdrawal directly from the cryptocurrency value held in the account to the cryptocurrency wallet. The Paysafe integrated platform has reduced these two steps down to one step and allows the conversion of fiat currency to cryptocurrency take place at the moment of withdrawal.

This is a big move as the two steps of a conventional payment provider, although only being two steps, usually has a much more convoluted user journey that requires a complex level of clicks between different user interfaces to complete the first step of converting from fiat to crypto before the second step can even take place.

This feature that allows cryptocurrency withdrawals directly from fiat currencies will save a lot of time and headaches to many stakeholders in the cryptocurrency industry.

Where Is the Feature Live

Unfortunately the direct to crypto wallet feature isn’t going to be rolled out across the globe immediately, instead Skrill is planning a phased release on the Paysafe integrated platform. As it currently stands the fiat direct to a crypto wallet feature will only be available in European Economic Area (EEA) countries. This undoubtedly is a big area but it is disappointing for users of skrill in other areas that the feature will not be available yet. Skrill management has indicated however that they do plan to launch the crypto wallet withdrawals feature in the UK and elsewhere in the near future so hopefully, the rest of the world won’t be waiting too long.

It seems the feature will be one that is hugely beneficial for all Skrill users with an interest in cryptocurrencies and it is undoubtedly true that the entire world has individuals who fall into this category so we’re sure Skrill will have recognized this fact and have made provisions for it.

There is currently no timeline for release in the UK and elsewhere but as Skrill has indicated it will be in the near future we can expect more news to be coming out about the additional release regions very soon.

Not only does Skrill plan to launch the feature in different economic areas, but the company is also in the planning and execution process of adding additional cryptocurrencies to its Paysafe platform in the near future. What this will mean is Skrill may become the go-to place for users that are looking to live a life that integrates cryptocurrencies into the day-to-day way of being. Perhaps Skrill and Paysafe may even become the new norm of payment processing for the throve of die-hard crypto enthusiasts that are gradually taking over the world.

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Having obtained a diploma in Intercultural Communication, Julia continued her studies taking a Master’s degree in Economics and Management. Becoming captured by innovative technologies, Julia turned passionate about exploring emerging techs believing in their ability to transform all spheres of our life.



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Farming Season Heats Up With SteakBank on BSC

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Kseniia Klichova

With yield farms in full swing, traders are jumping from one high yielding farm to the next in what looks to be shaping up for a defi summer.

For those who want to “stack multiple juicy yields,” SteakBank is backed by big players like Factorial Ventures, Signum Capital, MW Partners, LayerX Capital, Ruby Capital, etc. and has opened its Genesis Farming Period for staking BNB from April 29 to May 13.

The success of the Genesis Farming Period is just another indicator of the massive inroads BNB is making in its foray into defi. Not only is Binance Smart Chain capturing a large amount of newer entries in the defi market but the crypto OGs are buying into the blockchain.

Less Fees, More Opportunities

With less slippage in gas comes more opportunities to try new things. Users with both small and large capital who dabble in defi tend to be more audacious in trying the hottest new protocols, even if it means aping into the chain synonymous with Binance boss Changpeng Zhao.

SteakBank is promising tantalizing rewards: 50,000,000 SBF tokens are being disbursed. 20% will be airdropped to users staking BNB on the platform and 80% of tokens will be airdropped to those who delegate to add liquidity to the LBNB-BNB pool. As of now, SteakBank will only be functioning on Binance Smart Chain in order to mitigate gas costs but will later expand to other chains.

Introducing SBF

$SBF will be the SteakBank governance token. Users who hold SBF will be able to submit and vote on proposals, burn SBF tokens to accelerate the unstaking process, and increase value through supply depletion. SteakBank is touting an automated dynamic staking strategy that ensures users their highest staking reward without having to constantly check, giving them time to take a breath between processes. Early users are calling it the Lido of BNB, Lido being the platform that allows for easy staking of ETH, essentially the risk-off platform for earning interest on their assets.

Hours after the Genesis Farming Launch there were 26,000+ BNB staked and a total value locked of 22+ million USD.

With over $20 million locked into the genesis staking period at the time of publishing, it’s not a matter of if, but when the yields get too juicy to resist. Consider the main issues with BNB staking pools that currently reside on Binance Smart Chain:

  • Delegating to stake your BNB means it will become locked for 7 days.
  • Traditionally in BNB pools, the validators then have power to change yields every 24 hours.

SteakBank fixes this:

  • The SteakBank protocol automatically directs your BNB to the highest yielding validators.
  • Users can also unstake earlier than 7 day, and net it off with people who stake on the same day. This provides more liquidity for our users. Besides, if users are on the queue, and want to quicken up the process, they can also burn SBF to prioritise their unstaking.

Once we have a certain amount of BNB staked, it is also possible for SteakBank to be another individual validator for BSC. It remains to be seen how Changpeng Zhao will choose to scale Binance Smart Chain if he does decide to relinquish control of some validators and extend the network across many protocols, but we strongly believe in the push for decentralization and embracing of newer and more validators.

Give Way to Greater Yield

The early numbers are eye-boggling for a non-leveraged pool so far with the BNB/LBNB pool validator APR at 27% and trending upwards. This doesn’t include staking LBNB in the BNB/LBNB which will give you an additional allocation of free $SBF, the SteakBank governance token.
Binance Smart Chain is definitely not lacking in new projects, which have been springing up at a rate of knots. The quality has been patchy, however, compared to other EVM-compatible networks including Ethereum itself. SteakBank is upping the ante, and is on course to support a long, hot summer of defi yields on BSC.

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Kseniia is the Chief Content Officer of Coinspeaker, holding this position since 2018. Now she is very passionate about cryptocurrencies and everything connected with it, so she tries to ensure that all the content presented on Coinspeaker reaches the reader in an understandable and attractive way. Kseniia is always open to suggestions and comments, so feel free to contact her for any questions regarding her duties.





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Tether (USDT) Surpasses $50B Market Cap

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After being listed by Coinbase Pro, Tether (USDT) price has experienced sharp growth.

Tether (USDT), the oldest and leading stablecoin in the cryptocurrency market, has surpassed $50 billion market cap. Notably, there has been a significant demand for the dollar-pegged stablecoin, particularly Tether (USDT) as indicated by a sharp increase in daily traded volume.

According to metrics provided by CoinGecko, Tether (USDT) had a daily traded volume of approximately $131 billion. To put the figures into proper perspective, Bitcoin reported a daily traded volume of approximately $59.5 billion, and Ethereum at approximately $36 billion.

Tether (USDT) Market Outlook

There are several factors that have contributed to the success of the stablecoin market particularly the Tether (USDT). Notably, Coinbase Pro announced last week that it would immediately allow “inbound transfers” for USDT in its supported jurisdictions, except for the US state of New York. “Starting immediately, we will begin accepting inbound transfers of USDT to Coinbase Pro. Trading will begin on or after 6 p.m. Pacific Time (PT) Monday April 26, if liquidity conditions are met. Please note that Coinbase only supports ERC-20 USDT,” the company indicated.

After being listed by Coinbase, the only publicly traded crypto company, Tether (USDT) has experienced sharp growth thanks to the bull market. As more retail traders get involved with cryptocurrency trading, the need for stablecoins to take instant profits has increased. Furthermore, they are a form of cryptocurrency as they are backed by blockchain technology. However, Tether is built on the Ethereum blockchain.

Another factor that has contributed to the growth of Tether (USDT) is the fact that Bitfinex and Tether settled with the Office of the New York Attorney General in the landmark case against Tether.

Bitfinex and Tether agreed to pay a fine of $18.5 million to settle damages incurred. However, the ruling noted that Bitfinex and Tether should immediately stop servicing all customers in New York State. “Under the terms of the settlement, we admit no wrongdoing. The settlement amount we have agreed to pay to the Attorney General’s Office should be viewed as a measure of our desire to put this matter behind us and focus on our business. We are pleased that our customers have shown loyalty and commitment to our businesses over the past two years, while this investigation was ongoing,” Tether noted during the ruling.

The stablecoin market has grown astronomically since the onset of the coronavirus pandemic. According to metrics provided by CoinGecko, the entire stablecoin market has a market capitalization of $83,047,307,619. Other notable stablecoins include USDC, BUSD, and DAI that have market capitalization of $13.5 billion, $7.1 billion, and $3.4 billion.

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A financial analyst who sees positive income in both directions of the market (bulls & bears). Bitcoin is my crypto safe haven, free from government conspiracies.
Mythology is my mystery!
“You cannot enslave a mind that knows itself. That values itself. That understands itself.”



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Three Golden Eggs of CoinMarketCap: NBU, BAR and AMPL

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Alternative tokens should not only offer a solution to either the blockchain industry limitations or real-world problems but also have a loyal audience.

Over the last few years, Bitcoin has become a “Google” of the crypto industry. Not taking into account people that don’t have access to the internet, pretty much everyone has heard of both. And the reason for their popularity lies in the technology or service they have offered to the world. In the first case, we would be talking about peer-to-peer transactions that eliminate the need in any intermediary, whereas the second gave the world a path-breaking search engine, which leaves no information elusive.

Too Big to Grow? Let It Go!

The only problem is that the bigger the company or cryptocurrency, the harder is to achieve new highs unless penetrating new areas of interest. The question then arises, what should investors do. The answer is quite simple – search for new opportunities and diversify the portfolio.

Looking at the top cryptocurrencies, one could say that the prices are too high and the growth potential is close to reaching its limit. For example, Bitcoin began its correction after reaching $64,000, whereas Ethereum is on the path to break the all-time highs set earlier in the year. Great if it reaches the goal, but what next? Can it go to $3000? Theoretically, everything is possible but what if the reality goes the other way around as it always does? Risks are too high…

It’s Time to Look for Something New

In this context, the time has come to turn an eye on something new, something equally prominent as Bitcoin or Ethereum. Thus, alternative tokens should not only offer a solution to either the blockchain industry limitations or real-world problems but also have a loyal audience. To find “the golden eggs” that meet our criteria, we will need to go to CoinMarketCap, the world’s most-referenced price-tracking website for crypto assets, and check out some recently listed coins.

Nimbus Platform

The first project in our list would be without any doubt Nimbus – a DAO-governed ecosystem that offers users 15 earning strategies based on time-honored financial instruments, including classic IPO, Crowdfunding, P2P Lending, and Crypto Arbitrage-Trading. All of them are based on well-balanced yet diversified value generation strategies which mitigates risks for users. All you need to do to start gaining rewards of up to 100% APY is pick the preferred pool and provide liquidity. This way, you can earn a passive income instead of simply holding your crypto in your wallet and waiting for its market value to grow.

After a successful launch of its utility token NBU, which reached a market cap of $35mln within two days after the release, Nimbus listed its GNBU governance token on Uniswap – the biggest decentralized exchange. The coolest thing about GNBU is that it distributes the 10+ revenue streams of the Nimbus Platform between the GNBU holders. That’s taking the diversification to a whole new level! 

For those interested, here is one more cool update from the Nimbus team: recently they have announced increased reward levels for staking of the NBU. To be more precise, starting from 24th March 2021, and up until 24th May 2021, you can receive up to 40% APY on NBU staking at the Nimbus Platform.

Finally, it should be mentioned that in the long term, Nimbus is expected to transform into a one-stop-shop bridging investment products and DeFi – and offering even more revenue channels for users. But right now, anyone can become a part of the project while it’s still in the growth phase!

FC Barcelona Fan Token (BAR)

You may have never been to Barcelona but most probably, you know the football team led by Lionel Messi, also known as “Messia”. Despite the recent scandal with Super League, the Spanish team boasts one of the largest fan clubs in the world. From now on, you can use ‘Fan Tokens’ to participate in Club surveys.

According to the press release, in addition to offering the possibility of giving their opinion and voting on the different questions raised in the Club’s polls each season, fans will be able to obtain exclusive prizes when they take part in the polls. Thus, in exchange for their participation, they will earn points with which they will be able to get prizes related to digital experiences and activations, such as the possibility of participating in a meet & greet with the players or watching a game at the Camp Nou and enjoying a VIP experience in the stadium.

It is worth mentioning that this Wednesday Binance announced on its official Twitter account that it will list FC Barcelona Fan Tokens in its Innovation Zone. The tweet also added that users will be able to buy the tokens with BNB at a 30% discount. In the beginning, the exchange will offer trading pairs including BAR/BTC, BAR/BUSD, and BAR/USDT.

Ampleforth Governance Token (AMPL)

Long story short, the goal of Ampleforth is to incentivize a network of users to maintain a crypto asset with a value equal to the US dollar. You may think it is another stablecoin but you will be quite far from the truth. Ampleforth differs in its method of maintaining price stability. As well noted by Kraken, instead of relying on deposits or issuing and redeeming debt, the software programmatically adjusts the supply of its AMPL cryptocurrency every 24 hours in a process called “rebasing.”

Thus, we are talking about a simple monetary rule: If demand for AMPL tokens is high, and each AMPL token exceeds $1, the supply will increase. If demand is low, supply will decrease. The elasticity of the overall supply makes it much more sustainable and most importantly decentralized as the supply of AMPL is managed by the software and not humans.

Also, Ampleforth announced that any wallet that has ever “touched” AMPL will be eligible to collect its portion of the new FORTH tokens through the next year. Active participants in the protocol should expect a higher proportion. FORTH token holders will be able to propose and vote on changes to Ampleforth’s protocol.

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Author: Helena Ross

Helena is a crypto, financial journalist based in London. She is a believer in decentralized finance and supporter of innovations.



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