Connect with us

Cryptos

How to set up Google Authenticator?

Published

on

Spread the love

https://cryptoast.fr/comment-en-place-google-authenticator/

Advertisement

The role of double authentication, or 2FA

In order to secure your access to exchanges, storage wallets or any other platform, it is strongly recommended to set up two-step authentication.

sometimes abbreviated 2FA for 2 Factor Authentication, it makes obligatory the use of his smartphone to connect on a website.

Advertisement

And if we have our phone stolen, can the thief log into our account? Don’t panic, if someone steals your smartphone, they won’t be able to connect to your account without your password, which remains mandatory.

Double authentication is simply an additional security that it is strongly recommended to activate on the platforms that offer it.

Advertisement

Google Authenticator Logo

Availability of 2FA

This protection is unfortunately not available on all sites, but when it is, its use is sometimes mandatory to access all the features of a platform.

So you can use it to protect your accounts Coinbase, Binance, kraken, Bitfinex, KuCoin, BitMEX, etc. Activation is usually done from the “Account Security” section of a platform.

Advertisement

Downloading Google Authenticator

Click on one of the buttons below to download google authenticator on Android or iOS:

Google Play logoAppStore logo

Enable 2FA

Once the application is installed on your phone, you will need to activate it on the different exchanges you use. We are not going to make the whole list of possible exchanges, since the approach is similar for each of them.

Advertisement

Start by going to the tab dedicated to two-step authentication. A QR Code and a code will be displayed to you.

If this is your first connection to the application, an introduction will explain how the application works, then suggest that you add authentication. Otherwise, press the More at the bottom right of the app.

Advertisement

Enabling 2FA

You can choose between scan a QR code (barcode) or enter a code. It doesn’t matter, you can choose the method you prefer. But the method with the QR Code is recommendedbecause you are not likely to make a mistake.

Advertisement

⚠️ Warning, a recovery code is given to you with the QR Code (2FA backup key). Write it down somewhere and keep it safe. in safe place. Feel free to make multiple physical copies. This is a backup code needed to recover your account if you lose your smartphone and therefore your access to Google Authenticator.

Depending on the site, you may be asked to rewrite the recovery key, the code given by Google Authenticator, or both. Then… Well that’s it, your account is now secure!

Further information

As you will quickly notice, the code changes every 30 seconds. So when you are asked for the code, you will need your phone.

Advertisement

Generating the code uses phone time and other information related to your smartphone. So make sure your phone is always on timeotherwise the code displayed will not be correct and you will not be able to connect to the exchange websites.

In the event that the platform systematically refuses the code even though it is the correct code on your side, it’s a synchronization problem.

Advertisement

To adjust it, click on the menu of the 3 small dots at the top right and on “Settings”. Then click on “Time correction for codes”, then on “Synchronize”.

Advertisement

Need of disable your double authentication? You can’t access your phone anymore? This guide should help you.

You ask yourself other questions on the world of cryptocurrencies and blockchain? We may already have the answer in our Frequently Asked Questions.

Advertisement

Did this article help you ❤? Do not hesitate to let us know by assigning a rating out of 5 or by leaving us a comment. 🙂

Advertisement
Advertisement

Cryptos

Binance launches “Capital Connect”, its platform to connect VIPs with crypto fund managers

Published

on

Spread the love

Binance continues to expand its services by launching its new “Capital Connect” platform for its VIP clients. This platform will allow investors to get in touch with fund managers specialized in the field of cryptocurrencies. Although the service is free, Binance hopes to benefit from it by attracting institutional liquidity to its platform.

Advertisement

Binance continues to expand its services

Binance, the world’s largest cryptocurrency exchange, has just announced its latest innovation called “Capital Connect”. Intended for its VIP customers, this new platform will act as a gateway to put them in touch with fund managers specialized in the crypto ecosystem.

Individuals or companies benefiting from one of the 9 VIP levels offered by Binance will be the only ones able to access this service. Since the VIP circle is expensive, it is generally only available to high net worth individuals, hedge funds, wealth management offices or brokers, among others.

Advertisement

As such, Catherine Chen, Binance VIP Service Managerrevealed in an exclusive interview with our colleagues from The Block that the platform’s VIP customers represent only a tiny fraction of the platform’s 128 million users, but that they ” contribute very significantly to the volume or activity of our various product lines “.

According to Binance’s press release, Capital Connect will be a totally free service. These are the investors who will be able to connect to fund managers after selecting them from a list specifying their fees, strategies, redemption terms and assets under management, among others.

Advertisement

👉 Find our tutorial on the Binance platform

Discover Binance

Advertisement

10% off your fees with code SVULQ98B 🔥

A totally exclusive service

According to Catherine Chen, Binance is the very first platform in the crypto ecosystem to offer such a service. Although the platform does not charge any fees, it should nevertheless benefit from them by mechanical effect, according to her:

Advertisement

“Generally, these investment managers trade where? They obviously trade on the platform that offers the greatest liquidity. In the end, therefore, we have everything to gain. »

Fund managers will not have the possibility to choose the investors themselves, unlike the latter, but it will be up to them to accept the connection or not according to the profile of the investor in question. Profiles will initially be opaque, then will be revealed to each party once the connection is initiatedfor security reasons.

In addition, Binance will apply its usual Know Your Customer (KYC) standard to both parties, but will in no way intervene in the process linking these.

Advertisement

According to the exchange, its number of institutional clients observed a growth of 65% in 2022. In the first quarter of this year 2023, the platform already welcomes 8.3% more institutional clients than the previous one, and the trend should continue to grow in view of this new.

👉 To go further – Ordinals: Binance NFT Marketplace Opens to Bitcoin (BTC) Network Listings

Advertisement

Source : Communicated, The Block

Advertisement

Newsletter 🍞

Receive a summary of crypto news every Monday by email 👌

Advertisement

What you need to know about affiliate links. This page presents assets, products or services relating to investments. Some links in this article are affiliated. This means that if you buy a product or register on a site from this article, our partner pays us a commission. This allows us to continue to offer you original and useful content. There is no impact on you and you can even get a bonus by using our links.

Investments in cryptocurrencies are risky. Cryptoast is not responsible for the quality of the products or services presented on this page and could not be held responsible, directly or indirectly, for any damage or loss caused following the use of a good or service highlighted in this article. Investments related to crypto-assets are risky in nature, readers should do their own research before taking any action and only invest within the limits of their financial capabilities. This article does not constitute investment advice.

Advertisement

AMF recommendations. There is no guaranteed high return, a product with high return potential involves high risk. This risk-taking must be in line with your project, your investment horizon and your ability to lose part of this savings. Do not invest if you are not ready to lose all or part of your capital.

To go further, read our pages Financial situation, Media Transparency And Legal Notice.

Advertisement
Advertisement
Continue Reading

Cryptos

Renault brings Web3 into the real world with its next collection of NFTs

Published

on

Spread the love

Renault is set to launch its second collection of non-fungible tokens (NFTs) with a pair of exclusive, limited-edition digital sneakers of 960. This new collection will offer an innovative shopping experience, within an immersive 3D showroom specially created for the occasion. Each NFT will give access to the physical counterpart of the pair of digital sneakers, which will be equipped with an NFC chip containing its digital passport, also in NFT format.

Advertisement

https://cryptoast.fr/feed/

https://cryptoast.fr/renault-fait-entrée-web3-monde-reel-travers-prochaine-collection-nft/

Advertisement

Renault innovates for its next Web3 experience

We revealed it to you last week, Renault is about to launch its second collection of non-fungible tokens (NFT) following the enthusiasm encountered for his first “genR5” drop made in tribute to his legendary automobile model of the 70s.

Thus, Renault is repeating the operation with its Web3 community, this time with a pair of sneakers designed exclusively for this occasion. These will be available in a limited edition of 960 copies, each with its digital duplicate as well as its certificate of authenticity.

Advertisement

Renault Sneaker

Preview of a Renault digital sneaker

Advertisement

Sold at a price of €265 via their digital version, these pairs of sneakers using the design of different Renault 5 Turbo models will combine the real world and Web3 in a completely innovative way. So, each pair will house an NFC chip to encapsulate their digital passport, acting as a certificate of authenticity.

In addition, once the pairs are in their possession, holders of “RACING SHOE5” will be able to visualize, via the NFT digital passport held in the NFC chip, the manufacturing process of their shoes as well as their compositionthus reflecting a new way for Renault to enrich the customer experience in complete transparency.

Advertisement

👉 Follow the launch of the collection from the Renault website

A unique shopping experience

Thanks to the association between the pair of physical sneakers and its digital double, the shopping experience offered by Renault aims to be innovative, and this goes as far as the possibility for buyers to view the shoes in a virtual store specially created for the occasion.

Advertisement

Thus, it will be possible for users to interact with a 3D showroom offering an absolutely unique visual and sound experience thanks to an avatar. In addition, Renault will also offer holders of RACING SHOE5 to try their model remotely thanks to an augmented reality filter.

Renault showroom

Preview of Renault’s 3D showroom

Advertisement

Note that NFC chips cannot be duplicated or copied, the data written to them being validated by a cryptographic signature. Scanning the chip will allow holders, beyond finding the design history, to verify the authenticity of the shoes. Furthermore, this system was designed so that a transfer of the NFT contained in the chip is possible in the event of a possible resale of their RACING SHOE5.

Advertisement

As a reminder, holders of an NFT from the first collection will be able to access the sale from May 15th. The opening in preview will be accessible from May 16 and finally the public sale will be open to everyone on May 17.

👉 Stay up to date with the latest from R3NLT by following them on Twitter

Advertisement

This is a sponsored and paid article. Cryptoast has done prior research on the products or services presented on this page but cannot be held responsible, directly or indirectly, for any damage or loss caused following the use of a good or service highlighted in this article. Investments related to crypto-assets are risky in nature, readers should do their own research before taking any action and only invest within the limits of their financial capabilities. This article does not constitute investment advice.

Newsletter 🍞

Advertisement

Receive a summary of crypto news every Monday by email 👌

What you need to know about affiliate links. This page presents assets, products or services relating to investments. Some links in this article are affiliated. This means that if you buy a product or register on a site from this article, our partner pays us a commission. This allows us to continue to offer you original and useful content. There is no impact on you and you can even get a bonus by using our links.

Advertisement

Investments in cryptocurrencies are risky. Cryptoast is not responsible for the quality of the products or services presented on this page and could not be held responsible, directly or indirectly, for any damage or loss caused following the use of a good or service highlighted in this article. Investments related to crypto-assets are risky in nature, readers should do their own research before taking any action and only invest within the limits of their financial capabilities. This article does not constitute investment advice.

AMF recommendations. There is no guaranteed high return, a product with high return potential involves high risk. This risk-taking must be in line with your project, your investment horizon and your ability to lose part of this savings. Do not invest if you are not ready to lose all or part of your capital.

Advertisement

To go further, read our pages Financial situation, Media Transparency And Legal Notice.

Continue Reading

Cryptos

Chiliz publicly launches its mainnet with Meria among the first validators

Published

on

Spread the love

A few months after the announcement, the Chiliz Chain is now publicly accessible. Chiliz’s layer-1 blockchain (CHZ) will allow developers to build applications to give new use cases to token fans. Among the first 3 validators of the Chiliz Chain, we find Meria (ex Just Mining).

Advertisement

Chiliz publicly announces its mainnet

Chiliz (CHZ), the blockchain ecosystem specializing in sports and entertainment, has announced the public launch of the Chiliz Chain mainnet. This is another major new step in the development of Chiliz, which aims to revolutionize the sports and entertainment industries by bringing them into the Web3 era.

According to Alexandre Dreyfus, CEO of Chiliz, the Chiliz Chain will provide many benefits to users, including faster transaction time, lower fees and greater scalability :

“Chiliz Chain can grow to form the backbone of Web3 in sports, providing the infrastructure behind the next generation of products, experiences and services for teams, brands and their fans. »

From a technical point of view, this new blockchain is of the layer-1 type and is compatible with the Ethereum Virtual Machine (EVM). It will introduce a system of 11 validator nodes enabling Proof of Stake Authority (PoSA) consensus to work.

Advertisement

For the launch, only 3 validators were selected : Jump Crypto, Paribu and Meria (formerly Just Mining). Owen Simonin (better known under the pseudonym Hasheur), CEO of Meria, testified to his enthusiasm following this major collaboration:

Newsletter 🍞

Advertisement

Receive a summary of crypto news every Monday by email 👌

What you need to know about affiliate links. This page presents assets, products or services relating to investments. Some links in this article are affiliated. This means that if you buy a product or register on a site from this article, our partner pays us a commission. This allows us to continue to offer you original and useful content. There is no impact on you and you can even get a bonus by using our links.

Advertisement

Investments in cryptocurrencies are risky. Cryptoast is not responsible for the quality of the products or services presented on this page and could not be held responsible, directly or indirectly, for any damage or loss caused following the use of a good or service highlighted in this article. Investments related to crypto-assets are risky in nature, readers should do their own research before taking any action and only invest within the limits of their financial capabilities. This article does not constitute investment advice.

AMF recommendations. There is no guaranteed high return, a product with high return potential involves high risk. This risk-taking must be in line with your project, your investment horizon and your ability to lose part of this savings. Do not invest if you are not ready to lose all or part of your capital.

Advertisement

To go further, read our pages Financial situation, Media Transparency And Legal Notice.

Advertisement
Continue Reading

Cryptos

the Senate adopts the “influencers” bill promoted by the Economic Affairs Committee

Published

on

Spread the love

Yesterday evening, the bill concerning influencers was adopted by the Senate. Notable reductions have been noted compared to the version previously promoted by the National Assembly: companies working in the crypto-asset sector will be able to promote their activities without necessarily holding PSAN approval, only registration will be compulsory. Soon, a joint committee between the two chambers will be formed to give rise to a common text of law.

Advertisement

The Senate lightens the bill

Yesterday evening, the senators adopted at first reading the bill aimed at regulating the activity of influencers. In particular, elected officials included amendments in favor of companies registered as digital asset service providers (PSAN), thus following the position of the Economic Affairs Committee as pointed out by Adan (association for the development of digital assets):

As a reminder, part of this regulation directly targets the French cryptocurrency ecosystem : at the end of March, the deputies of the National Assembly had positioned themselves for a ban on acts of promotion through influencers to companies that do not hold PSAN approval.

Advertisement

👉 Understand everything about the National Assembly’s “influencer” bill

However, a problem is pointed out: the Financial Markets Authority (AMF) is unable to provide PSAN approval to companies that engage in activities related to crypto-assets. In effect, the latter are not able to obtain professional indemnity insurancewhich is a mandatory requirement for certification.

Advertisement

Thus, after hearing the voices of the various players in the sector, the Senate voted on a more flexible bill : PSAN approval is not considered mandatory, only registration will be necessary for companies carrying out promotional actions through influencers.

Shortly, discussions will be carried out by a joint committee so that the two chambers, the National Assembly and the Senate, can find a compromise on this text of the law.

Advertisement

Yesterday, in the columns of Cryptoast, the actors of the French Web3 ecosystem expressed themselves on their concerns about the text promoted by the National Assemblywhile welcoming the relaxations proposed by the Senate.

👉 Read the column signed by around twenty French Web3 companies

Advertisement

Source : Senate

Advertisement

Order our Book to understand everything about cryptos

Published by Editions Larousse

Advertisement
toaster icon

Newsletter 🍞

Receive a summary of crypto news every Monday by email 👌

Advertisement

What you need to know about affiliate links. This page presents assets, products or services relating to investments. Some links in this article are affiliated. This means that if you buy a product or register on a site from this article, our partner pays us a commission. This allows us to continue to offer you original and useful content. There is no impact on you and you can even get a bonus by using our links.

Investments in cryptocurrencies are risky. Cryptoast is not responsible for the quality of the products or services presented on this page and could not be held responsible, directly or indirectly, for any damage or loss caused following the use of a good or service highlighted in this article. Investments related to crypto-assets are risky in nature, readers should do their own research before taking any action and only invest within the limits of their financial capabilities. This article does not constitute investment advice.

Advertisement

AMF recommendations. There is no guaranteed high return, a product with high return potential involves high risk. This risk-taking must be in line with your project, your investment horizon and your ability to lose part of this savings. Do not invest if you are not ready to lose all or part of your capital.

To go further, read our pages Financial situation, Media Transparency And Legal Notice.

Advertisement

Advertisement
Continue Reading

Cryptos

PayPal customers have invested $943 million in cryptocurrencies

Published

on

Spread the love

In a document filed with the SEC, we learn that PayPal has almost a billion dollars having been invested in cryptocurrencies by its customers. How is the payment giant evolving with regard to this aspect of its activity?

Advertisement

https://cryptoast.fr/feed/

https://cryptoast.fr/clients-paypal-investi-943-millions-dollars-cryptomoneys/

Advertisement

PayPal manages over $1 billion worth of cryptocurrencies

In its Form 10-K filed with the Securities and Exchange Commission (SEC) and reporting its financial condition as of March 31, 2023, PayPal reveals that it manages 943 million dollars of cryptocurrencies on behalf of its customers.

Among the distribution of these assets, Bitcoin (BTC) comes out on top without much surprise, representing almost half of these assets, or 499 million dollars. ETH comes second with $362 million, and an “other” category, for Litecoin (LTC) and Bitcoin Cash (BCH), weighs in at $82 million.

Advertisement

👉 How to buy cryptocurrencies with PayPal?

Buy crypto on eToro in minutes

Advertisement

Compared to December 31, 2022, the data presented shows an increase of just over 56%. Indeed, the previous total was $604 million, broken down as follows:

  • BTC: $291 million;
  • ETH: $250 million;
  • Other: $63 million.

However, it should to put this progress into perspectivebecause it does not mean that deposits have increased by 56%.

And for good reason, over the period studied, BTC rose 72.26%, and ETH 52.5%. It would thus have been necessary to have a distribution denominated in the original assets to judge the results of PayPal between the last quarter of 2022 and the first of 2023, because it even seems that there were more withdrawals than depositsjudging by these statistics.

Advertisement

In addition, PayPal specifies in the form that it only handles account maintenance for its customers’ crypto investments, and that custody of the assets is outsourced to a third party.

The said third party has not been mentioned explicitly, but, although nothing is certain, PayPal having acquired the Israeli start-up Curv in 2021, we could have a line of thought there. Indeed, the company is particularly specialized in the custody of digital assets.

Advertisement

At the moment, PayPal’s cryptocurrency services are relatively limited. While it is aimed primarily at American customers, it is gradually opening up to the rest of the world, such as the United Kingdom and Luxembourg.

👉 News — Cryptocurrencies: Grayscale launches a new structure and files a registration for 3 ETFs

Advertisement

Source : Form 10-K

Newsletter 🍞

Advertisement

Receive a summary of crypto news every Monday by email 👌

What you need to know about affiliate links. This page presents assets, products or services relating to investments. Some links in this article are affiliated. This means that if you buy a product or register on a site from this article, our partner pays us a commission. This allows us to continue to offer you original and useful content. There is no impact on you and you can even get a bonus by using our links.

Advertisement

Investments in cryptocurrencies are risky. Cryptoast is not responsible for the quality of the products or services presented on this page and could not be held responsible, directly or indirectly, for any damage or loss caused following the use of a good or service highlighted in this article. Investments related to crypto-assets are risky in nature, readers should do their own research before taking any action and only invest within the limits of their financial capabilities. This article does not constitute investment advice.

AMF recommendations. There is no guaranteed high return, a product with high return potential involves high risk. This risk-taking must be in line with your project, your investment horizon and your ability to lose part of this savings. Do not invest if you are not ready to lose all or part of your capital.

Advertisement

To go further, read our pages Financial situation, Media Transparency And Legal Notice.

Continue Reading

Cryptos

the French company Dfns integrates biometrics into their infrastructure

Published

on

Spread the love

Today, non-custodial wallets are complex to handle: recovery phrases and private keys are an obstacle to the general public’s use of these tools. Based on this observation, the startup Dfns has developed a solution to develop wallets with an atypical feature: their users will be able to use biometric tools to unlock access to their assets.

Advertisement

Dfns launches its biometric solution

Will we soon be able to unlock our non-custodial wallets using facial recognition? The Parisian firm Dfns has just announced the launch of its solution enabling developers to create cryptocurrency wallets including biometric tools.

👉 What is a non-custodial wallet?

Advertisement

Thus, future users will be able to access their funds and interact with their assets. using a fingerprint or facial recognition. The unlocking of the wallet by the identity of its user will then replace the role of private keys and recovery phrases.

The co-founder and CEO of the company, Clarisse Hagège, asserts that this transition from private keys to identity verification is necessary to bridge the gap between Web2 and Web3 interfaces:

Advertisement

Any user creating a crypto wallet or transferring digital assets will be able to do so with a simple scan of their face or fingerprint, bridging the user experience gap between Web3 and Web2. »

Thus, cryptocurrency holders will no longer need to remember recovery phrases or private keys: only the user authorized by the biometrics tools will access their funds, all thanks to a cryptographic key created and stored on the device used.

👉 How to store your cryptocurrencies through a wallet

Advertisement

For greater Web3 accessibility?

In developing its solution, the startup specializing in wallet infrastructure has one mission in mind: make cryptocurrency wallets more accessible by facilitating their use.

Advertisement

After a year 2022 marked by numerous bankruptcies, in particular that of FTX causing losses amounting to several billion dollars, investors have massively turned to non-custodial wallets. Evidenced by the excellent results of the French company Ledger, having achieved a large number of sales during the bear market.

However, less tech-savvy investors are held back by the complexity of these tools. Still according to its co-founder, the objective of Dfns is therefore to offer a service that is both secure and accessible to as many people as possible:

Advertisement

The first place a new user can start their Web3 journey is by opening a wallet, and if the UX feels foreign, cluttered, or unfamiliar, the likelihood of conversion and retention drops precipitously. Every platform and application that wants to help make Web3 more convenient and secure must integrate biometric wallets. »

For now, the company’s solution is available in beta version for developers. Note that in April 2022, Dfns has raised 13.5 million euros from several investment fundsincluding a company owned by the parent company of Coinbase.

👉 The Top 10 crypto wallets to secure your assets

Advertisement

Source : BusinessWire

Newsletter 🍞

Advertisement

Receive a summary of crypto news every Monday by email 👌

What you need to know about affiliate links. This page presents assets, products or services relating to investments. Some links in this article are affiliated. This means that if you buy a product or register on a site from this article, our partner pays us a commission. This allows us to continue to offer you original and useful content. There is no impact on you and you can even get a bonus by using our links.

Advertisement

Investments in cryptocurrencies are risky. Cryptoast is not responsible for the quality of the products or services presented on this page and could not be held responsible, directly or indirectly, for any damage or loss caused following the use of a good or service highlighted in this article. Investments related to crypto-assets are risky in nature, readers should do their own research before taking any action and only invest within the limits of their financial capabilities. This article does not constitute investment advice.

AMF recommendations. There is no guaranteed high return, a product with high return potential involves high risk. This risk-taking must be in line with your project, your investment horizon and your ability to lose part of this savings. Do not invest if you are not ready to lose all or part of your capital.

Advertisement

To go further, read our pages Financial situation, Media Transparency And Legal Notice.

Continue Reading

Cryptos

Grayscale Launches New Structure and Files Registration for 3 ETFs

Published

on

Spread the love

To optimally manage some of its investment products, Grayscale has announced the creation of a new structure. In addition to this, the company has filed for SEC registration for 3 new ETFs.

Advertisement

https://cryptoast.fr/feed/

https://cryptoast.fr/grayscale-lance-nouvelle-structure-depose-registration-3-etf/

Advertisement

Grayscale launches the Grayscale Funds Trust and expands its ETFs

On Tuesday, Grayscale announced the creation of the Grayscale Funds Trust and as a Delaware statutory trust (DST). :

Grayscale Funds Trust will thus allow the company to independently manage the activities falling under the 1940 Actan American law which notably regulates the activities of investment companies and investment advisers.

Michael Sonnenshein, CEO of Grayscale, returned to this desire to create solid foundations at the regulatory level:

Advertisement

“The creation of Grayscale Funds Trust reflects our commitment to responsibly evolving Grayscale’s business. We’re putting the foundation in place so that Grayscale can continue to create and support regulated, future-ready products. »

Complementing Grayscale Funds Trust, Company Unveiled Filing for Registration with the Securities and Exchange Commission (SEC) for 3 new Exchange Traded Funds (ETFs) :

  • Grayscale Ethereum Futures ETF;
  • Grayscale Global Bitcoin Composite ETF;
  • Grayscale Privacy ETF.

For the moment, the SEC has always refused to approve ETFs on the spot trading of cryptocurrencies. However, his reaction to these new products could be different, since they are based on derivatives.

Indeed, the ETF on ETH will be built from Chicago Mercantile Exchange (CME) futures contracts, while the other 2 will follow indices from the Indxx company.

Advertisement

👉 To go further — Find our guide to buy Bitcoin (BTC)

Discover Binance

Advertisement

10% off your fees with code SVULQ98B 🔥

🎧 Listen to this article and all other crypto news on Spotify

Advertisement

Grayscale and crypto products

During this bear market, Grayscale is experiencing some difficultieslike its parent company Digital Currency Group (DCG), whose company Genesis had to face bankruptcy.

However, Grayscale’s difficulties lie rather in its two main investment products, namely the Grayscale® Bitcoin Trust (GBTC) and the Grayscale® Ethereum Trust (ETHE). And for good reason, both trade at a steep discount in the over-the-counter market.

Advertisement

For GBTC, it is trading at $15.66, which is 37.6% less than the $25.13 it is supposed to be worth. Regarding ETHE, it is even worse, with 8.8 dollars instead of 17.99, or 51%.

Despite this depreciation relative to their benchmark, DCG itself had, despite everything, had to sell stakes in these products to help repay Genesis creditors.

Advertisement

Beyond these difficulties, it will be interesting to follow the development of Grayscale, which participates at its level in bringing cryptocurrencies to the traditional finance sector.

👉 Also in the news — Regulatory Uncertainty: Jump Crypto and Jane Street Halt Cryptocurrency Trading in the United States

Advertisement

Source : Press release

Newsletter 🍞

Advertisement

Receive a summary of crypto news every Monday by email 👌

What you need to know about affiliate links. This page presents assets, products or services relating to investments. Some links in this article are affiliated. This means that if you buy a product or register on a site from this article, our partner pays us a commission. This allows us to continue to offer you original and useful content. There is no impact on you and you can even get a bonus by using our links.

Advertisement

Investments in cryptocurrencies are risky. Cryptoast is not responsible for the quality of the products or services presented on this page and could not be held responsible, directly or indirectly, for any damage or loss caused following the use of a good or service highlighted in this article. Investments related to crypto-assets are risky in nature, readers should do their own research before taking any action and only invest within the limits of their financial capabilities. This article does not constitute investment advice.

AMF recommendations. There is no guaranteed high return, a product with high return potential involves high risk. This risk-taking must be in line with your project, your investment horizon and your ability to lose part of this savings. Do not invest if you are not ready to lose all or part of your capital.

Advertisement

To go further, read our pages Financial situation, Media Transparency And Legal Notice.

Advertisement
Continue Reading

Trending