Cryptocurrency Tracker

With the festive season in full swing, it’s been another captivating week in the world of crypto with some stimulating news that’s sure to dominate talk amongst crypto lovers. Jackson, Tennessee becomes the first US city to add Bitcoin as payroll option; the Dubai World Trade Centre is set to become an exclusive crypto zone; a Spanish music video clip wholly financed with Bitcoin; and a Beverly Hills plastic surgeon has started accepting crypto for procedures.

Jackson, Tennessee becomes first US city to add Bitcoin as payroll option

The city of Jackson, Tennessee in the US is set to become the first city to add Bitcoin as a payroll conversion option for city employees. Mayor of Jackson, Scott Conger, has been a major proponent of Bitcoin and has pushed for the cryptocurrency to be added as an option to pay city employees through a motion to actualise it.

Conger is convinced that the conversion option will diversify the ways in which the city pays its employees. In addition, this move will enable the city to pay companies and contractors in Bitcoin – in turn, attracting a wider range of bidders.

A big step towards commencing the process of adding Bitcoin as a payment conversion option is the request for proposal (RFP) which must be opened. This step will allow third-party platforms to submit applications to become Jackson’s official cryptocurrency converter.

Once a crypto contractor is approved, the city of Jackson will pay that provider in US$ for the number of employees that want to be paid in Bitcoin. That provider will then convert the payment to Bitcoin and send that BTC to those employees.

If all goes according to plan, employees can start getting paid in Bitcoin in early 2022. Conger is firm in his belief that this move will bring more opportunities to the city as well as helping employees to diversify their investments.

Wisly will keep you posted on the very latest with this.

Dubai World Trade Centre to become an exclusive crypto zone

The Dubai World Trade Centre (DWTC) has announced plans to become a comprehensive zone and regulator for cryptocurrencies and virtual assets. The financial authority has moved to design a wide-ranging ecosystem for the region due to the adoption of crypto investments gathering momentum rapidly in Dubai.

These exciting plans are in alignment with the government’s efforts to create fresh economic sectors and encourage financial inclusion. In addition, it will help banks and other financial institutions to adopt new-age technologies within the sector and help them to manage any associated risks.

The DWTC will coordinate with the private sector and plans to enforce rigorous standards for investor protection. Moreover, they have protocols in the pipeline that will address money laundering, terrorism financing, and track cross-border transactions in the cryptocurrency and digital asset sphere.

DTWC authorities were delighted with the announcement and said, “The step continues to accelerate Dubai’s standing as a leading global centre for business, trade and technology. The World Trade Centre will deliver and oversee a new world-class regulatory framework of virtual asset legislative and enforcement policies. It will be critical to facilitating and broadening cross-border operations and ecosystem innovation to enable safe market adoption and growth for this sector in Dubai.”

Wisly will keep you up to date with the latest on this story.

Spanish music video clip wholly financed with Bitcoin

The Coinmotion cryptocurrency platform has released a world-first crypto video music clip entitled “Bajo tu piel” by visionary Spanish artist, Huecco. Incredibly, the entire video clip and the new single was financed exclusively with Bitcoin – making it the first in the world to do so.

The idea was initially pitched by Huecco to Coinmotion where he explained that no video clip was entirely financed by cryptocurrencies. Coinmotion was so impressed with this idea that they took on the project as their own. Huecco was over the moon as he chimed, “We went from being a customer to collaborators in this historic and comforting joint venture of a crypto broker and music.”

This collaboration between Coinmotion and Huecco is intended to bring about innovation in the creative activities that they are involved in. Coinmotion’s CEO – Heidi Hurskainen – was in an equally buoyant mood saying, “We like to innovate with “premium on-demand” services, being the first to launch the Private Crypto Banking service in Spain. When Huecco asked us to collaborate on such a pioneering project that apart from being the first video clip in the world financed entirely with Bitcoin, it allows us to contribute to raising awareness and promoting the development of the sector in Spain, we did not hesitate to participate in it.”

Terrific news indeed, for Huecco and Coinmotion. Wisly will keep you in the loop with the very latest on this.

Beverly Hills plastic surgeon accepts crypto for procedures

World-renowned facial plastic surgeon, Dr Babak Azizzadeh, has announced that his Beverly Hills clinic, The Center for Advanced Facial Plastic Surgery, will begin to accept cryptocurrency as full or partial payment for cosmetic or reconstructive procedures.

The announcement comes after months of observation from Dr Azizzadeh who noticed that the rise of cryptocurrencies created a new method of payment in the beauty world – most especially with cosmetic procedures and luxury beauty products.

An ecstatic Dr Azizzadeh said, “Now is the time for my industry to accommodate patients who desire to use cryptocurrency for more and more of their day-to-day financial transactions and this is a direction that most businesses will need to move towards. Cryptocurrency is not just an investment tool for enthusiasts but a passion and cause. They want to be able to use it for goods and services as demonstrated by the story of Laszlo Hancyecz who in 2010 paid 10,000 bitcoins to be able to purchase two pizzas!”

The Center for Advanced Facial Plastic Surgery opened in 2003 and offers a range of services that include surgical procedures for the face, nose, and facial paralysis while also offering non-surgical options as well. Wisly will keep you updated on the very latest with this.

It certainly has been an incredible year in the world of crypto, with 2021 offering a plethora of exciting opportunities for crypto enthusiasts across the globe. This year saw the world’s first cryptocurrency – Bitcoin – breach the $60,000 mark, while Solana enjoyed unprecedented gains of over 12,600%.

With El Salvador’s official adoption of Bitcoin as legal tender and many more countries and businesses warming to cryptocurrencies, the stage is set for 2022 to be an even more profitable year for investors. With that being said, let’s explore some of the top cryptocurrencies to watch in 2022.

Shiba Inu

Shiba Inu exploded in 2021, with a market cap of over $17 billion, a unit price of $0.000032, and a circulating supply of over 549 billion SHIB at the time of writing. This meme coin’s success piggybacked off the popularity of Dogecoin and caused a flurry of activity that led to an all-time high this October.

The SHIBArmy – Shiba Inu’s devoted band of followers – implored Robinhood to make SHIB available for trading on its platform after it hit the giddy heights of a $40 billion market cap. While it has since bled value in the tail end of 2021, more than halving its market cap, there’s plenty of promise in Shiba Inu’s future to excite investors in 2022.

Cosmos

Cosmos has enjoyed a meteoric rise in the past 12 months, with a market cap of over $4 billion, a unit price of $21.42, and a circulating supply of over 226 billion ATOM at the time of writing. Cosmos is a competitor to Ethereum, with a major focus on interoperability – connecting different blockchains together.

The value of Cosmos has spiked more than 400% in 2021 – a fantastic jump in price from the $5.90 it strolled into 2021 with.  With over 250 blockchains, apps, and services in the Cosmos ecosystem, together with a highly-successful organic growth of ATOM, there’s every chance that Cosmos will pack an even bigger punch in 2022.

Cardano

Cardano has made huge strides in 2021 and has an extremely healthy market cap of over $42 billion, with a unit price of $1.24, and a circulating supply of over 34 billion ADA at the time of writing. While ADA limped into 2021 trading at less than $0.20, it showed great resilience in a turbulent market with its unit price shooting to over $3 in early September – elevating Cardano as the world’s third-largest cryptocurrency in the process.

Although ADA’s unit price has since levelled off, it’s in a far better position heading into the new year than it was 12 months ago. With a growing number of investors choosing to diversify their portfolios with Cardano and many exciting projects in the pipeline, 2022 could certainly be a fruitful one for Cardano.

Ethereum

As one of the big hitters in the crypto scene, Ethereum’s stock has really taken off this year with a market cap of over $456 billion, a unit price of $3,841.38, and a circulating supply of over 118 billion ETH at the time of writing. 2022 promises to be an even better year for Ethereum as the blockchain is due to release one of its most important upgrades – Ethereum 2.

Ethereum 2 is the perfect solution to the network’s biggest problem at the moment – its transaction speed. It currently processes about 30 transactions a second but will boast a transaction speed of 100,000 per second after the upgrade – truly amazing!

The two notable improvements are a switch to a proof-of-stake validation method that cuts out time-consuming validation by granting validation power to validators according to coins held. Moreover, Ethereum is adding shard chains that will relieve the congestion on the main network. If the upgrade process goes smoothly, the sky’s the limit for Ethereum in 2022.

Final thoughts

As we soak in the festivities at the end of what has been a fabulous 2021 for cryptocurrencies, there is a whiff of optimism permeating the air as we float into a magical 2022. While investors understand that the crypto market can become dramatic and disruptive, the future of the coins discussed above certainly appears to be bright – something that many investors are all too aware of.  Make sure to be discerning when approaching your investments and remain steadfast in times of uncertainty – Good luck!

It is important to note that investing in cryptocurrencies is a risky and highly speculative proposition. This article does not provide recommendations, advice, or guidance regarding cryptocurrency investments, but is rather our opinion on such activities. Investors must conduct their own research and engage in the services of qualified professionals before making any financial and/or cryptocurrency investment decisions. We do, however, recommend established platforms like Wisly to monitor and analyse your cryptocurrency investments.

With the festive season in full swing, it’s been another fascinating week in the world of crypto, with some interesting developments that are sure to raise eyebrows amongst crypto enthusiasts. WhatsApp launches crypto payments in the US; Nuvei partners with VISA to release crypto-friendly debit cards; Shadow Myanmar government recognises Tether as official currency; and Switzerland’s biggest online bank launches crypto exchange.

WhatsApp launches crypto payments in the US

December certainly has got better for WhatsApp users in the US as a selected few will be allowed to send and receive crypto within their WhatsApp chat. The new crypto payment feature will be powered by Novi, Meta’s latest digital wallet.

All crypto payments can be made using Pax Dollars (USDP) – a stablecoin pegged to the US Dollar – that is issued by the financial services company Paxos. USDP is regulated by the New York State Department of financial services.

Stephane Kasriel of Novi made the announcement via Twitter as he said, “Starting today, a limited number of people in the US will be able to send and receive money using Novi on @WhatsApp, making sending money to family and friends as easy as sending a message.”

WhatsApp’s Will Cathcart followed up with a tweet of his own that said, “People use WA[Whatsapp] to coordinate sending money to loved ones, and now Novi will help them do that securely, instantly and with no fees.” He further explained that since Novi’s launch, they have been able to test and learn which features and functionalities are most important to users.

WhatsApp users can select the paper clip icon to access the feature and then choose the Payment option on the menu. Payments will be made instantly, and there will be no limits to the number of payments made.

Novi will not charge users any fees to maintain account balances or to transfer funds to a bank account. Moreover, this feature will not affect WhatsApp’s end-to-end encryption. While there has been no official news of who exactly qualifies to use this feature, it appears that those WhatsApp users in the US that are registered with Novi could be the lucky few.

Wisly will keep you up to date with the very latest on this.  

Nuvei partners with VISA to release crypto-friendly debit cards

Global payment technology partner, Nuvei, has partnered with global payments giant, VISA, to release crypto-friendly debit cards. Through its subsidiary Simplex – a fintech company that offers fiat infrastructure to the crypto industry – Nuvei will allow partner firms to use crypto in places where VISA is accepted.

The crypto-friendly debit cards are planned to roll out to its partners in the UK as well as the European Economic Area, and Nuvei will use its EMI licence and VISA Principal Membership to make this possible.

CEO of Nuvei – Philip Fayer – was delighted at achieving such an important milestone as he said, “The branded VISA debit card is a huge asset to our partners and their users. Enabling the immediate and seamless spending of crypto earnings.” He explained that with this initiative, VISA plays a crucial role in growing the crypto industry – a move that has taken massive strides in closing the gap between crypto and traditional finance.

VISA’s Crypto Solutions Director for Europe – Nikola Plecas – was in an equally buoyant mood as he piped, “Awareness of cryptocurrencies has increased significantly amongst consumers across Europe, resulting in increased adoption as more people look to access crypto.” He expressed his delight in being part of such a historic project while also strengthening VISA’s partnership with Nuvei.

Thrilling news indeed, and Wisly will keep you posted on the very latest with this story.

Myanmar’s shadow government recognises Tether as official currency

In a fascinating development in the Far East, Myanmar’s shadow government, The National Unity Government (NUG) – led by former leader Aung San Suu Kyi – has officially recognised Tether as an official currency in the country.

In a surprise announcement on Monday by NUG’s finance minister – Tin Tun Naing – he said that Tether will now be available for domestic use to make it easy and speed up the current trade, services and payment systems. The NUG lost state power in February this year and fails to control any territory in the country – leading to a declaration of war on the current military government.

This latest move of embracing Tether as official currency is another clear rejection of the political authority claimed by Myanmar’s military government. While the Central Bank of Myanmar last year deemed all cryptocurrencies illegal in the country, the NUG appears to have made a u-turn in an effort to fund its operations – such drama!

Although not as structured as El Salvador’s crypto adoption earlier this year, the NUG hopes that the official introduction of Tether into their economy can revive their organisation’s efforts and attract more people to its cause. Watch this space for the very latest on this from Wisly. 

Switzerland’s biggest online bank launches crypto exchange

The biggest online bank in Switzerland, Swissquote, has announced exciting plans to launch its very own crypto exchange before the middle of 2022. The bank has shown a great willingness to facilitate trade in cryptocurrencies through its platform due to the crypto rush that has overwhelmed its customer service and compliance teams.

CEO of Swissquote – Marc Buerki – recently remarked that traditional banks have panicked in recent times, and those who are now warming to cryptocurrencies are a bit late to the party. However, all is not lost as the bank has great ambitions to be the leading provider of digital assets in the pristine European country.

In an effort to spearhead the crypto industry in Switzerland, Swissquote also wants to expand its crypto offering – including stablecoin and staking services. The demand for crypto in Switzerland has steadily risen, with the Swiss Stock Exchange recently launching a fully-licenced crypto exchange – SDX – to cater for crypto enthusiasts.

The sales manager of Swissquote – Jan de Schepper – was excited about the launch of the crypto platform in the first part of 2022 and said, “We want to enable more trading in various cryptocurrencies on the platform.” This is fantastic news for the region as the crypto wave continues to gather momentum. Wisly will keep you informed on the very latest with this.

Non-fungible tokens, commonly referred to as NFTs, are digital tokens that are underpinned by blockchain technology and represent something unique or of a limited edition – the hottest thing on the crypto market. NFTs are primarily digital artworks whose origin and ownership can be easily verified through unique identifying codes.

NFTs are bought and sold online with cryptocurrency and allow people to tokenise things like art, collectibles, and real estate. They will only ever have one owner at a time, and that record of ownership can never be amended – making it a lucrative industry for those who want to sell unique digital assets online.

By creating NFTs, creators can verify its scarcity and authenticity to almost anything that is digital. Although there’s no guarantee that buying an NFT will bring you untold riches, they remain an extremely attractive investment option, especially for those investors who want to diversify their portfolios.

NFTs are a novel way to own possession in the virtual realm and can communicate social status and personal taste – sort of the digital equivalent to expensive physical items that one would normally buy. It, therefore, comes as no surprise that NFT’s recorded a transaction volume of over $3.4 billion in August this year – a clear indication of its growing popularity.

Different NFT Use Cases

While NFTs are typically used as a certificate of authenticity for digital artworks, there has been a rapid evolution in the way that they are used – allowing access to VIP perks and exclusive content, rights to certain assets, and proving ownership. With that being said, let’s explore some exciting use cases of NFTs.

Location-Based

A new trend has emerged where visitors at famous locations have access to NFTs. Landmarks, museums, and galleries have started to realise how lucrative NFTs can be for both attendees and the location – pouncing on the opportunity to further their interests.

At the Bright Moments NFT Gallery, for instance, visitors were given access to mint a CryptoVenetian and subsequently received access to drops as well as exclusive benefits. This initiative proved to be productive as Venetians were made available on the secondary market with the largest sale amassing 20ETH – incredible!

Real Estate

Physical real estate opportunities leverage NFTs for greater efficiency and encourage new dawn for property ownership – trustless property titles. Property transfers are traditionally a time-consuming and labour-intensive affair that requires title management. By using blockchain technology and NFTs, real-world real estate companies can easily verify ownership history and check titles.

Things appear to be changing as NFTs are now connecting with physical properties to enable straightforward usage and easy collateral. Some real estate companies are now offering transaction platforms where each NFT comes with access to paperwork that is already ownership transferred – truly amazing!

In the virtual realm, digital real estate applications are increasing in popularity in games like Decentraland, where users create and buy virtual land – with the owners and original producers easily identifiable.

Virtual real estate NFTs can be exchanged on NFT marketplaces with transactions that are far more transparent and efficient than traditional real estate transactions. The details of virtual real estate owners are recorded on a decentralised ledger through an NFT as opposed to traditional title deeds.

Domain name ownership

By taking advantage of blockchain domain systems, owners have the ability to control their domains through the use of private keys. Blockchain domain NFTs allow for effortless trading and customisable domain names. In addition, blockchain domain names are recorded permanently on a public registry – meaning they cannot be altered or removed by third parties.

Supply chain and logistics

NFTs are particularly helpful in supply chain and logistics processes – especially when it comes to authenticating products, ensuring the quality of products, and verifying the origin of specific products. Therefore, it makes perfect sense to leverage NFTs for logistics applications when considering their transparency and immutability – a sure way to keep supply chain information reliable and authentic.

NFT technology drastically reduces counterfeiting, which helps trace the movement of goods throughout the supply chain lifecycle, assuring uniqueness. In addition, NFTs helps provide accurate information on materials and components for specific products for the automotive industry – a brilliant way to save on costs.

Music

Just as one can attach image or video files, musicians and artists can attach audio pieces to NFTs to create collectibles – akin to a first edition digital record. Through this, musicians and artists are able to profit from their content and won’t have to rely on third-party services to promote their work. Moreover, they can earn royalties whenever their work is resold to a new owner, while each owner will be able to trace that content back to its creator – unbelievable! 

Final Thoughts

When considering that the trading volume of NFTs surged in the third quarter of 2021 to $10.67 billion – a whopping 704% increase from the previous quarter – according to a recent report from analytics platform, DappRadar, there’s every reason to believe that NFTs will become more mainstream as blockchain technology evolves.

We haven’t even touched on the impact of NFTs on healthcare, sports, fashion, events and ticketing, to name a few – the possibilities are truly endless. With so much of our waking hours spent online, everybody will want to own their own unique digital assets to flaunt – perhaps for gaming, art, or simply to use in a metaverse somewhere – NFTs certainly appear to have a bright future and one that we all should be a part of.

You should approach NFT’s as you would with other cryptocurrency investments and proceed with an element of caution. Make sure to do your research and understand all the risks before committing to any NFT, and only commit funds that you are prepared to lose – in a worst-case scenario. Good Luck!

It is important to note that investing in NFT’s is a risky and highly speculative proposition. This article does not provide recommendations, advice or guidance regarding NFT investments but is rather our opinion on such activities. Investors must conduct their own research and engage in the services of qualified professionals before making any financial and/or cryptocurrency investment decisions. We do, however, recommend established platforms like Wisly to monitor and analyse your NFT and cryptocurrency investments. 

As the festive season kicks into gear, it’s been another fascinating week in the world of crypto with some food for thought that’s sure to spice up crypto conversations. Self-proclaimed Bitcoin creator prevails in court; Colombia’s largest bank offers crypto trading; Crypto exchange BitMart to compensate users after $150 million hack; and Croatian supermarket allows crypto payments.

Self-proclaimed Bitcoin creator prevails in court

A Miami jury has cleared self-proclaimed Bitcoin creator and computer scientist Craig Wright on a recent dispute regarding 1.1 million Bitcoin in his possession. The dispute spilt over in a Florida trial where the estate of Wright’s former business partner, Dave Kleiman, claimed half of the Bitcoin cache – almost $54 billion – due to him being co-creator of Bitcoin.

In 2016, Wright claimed that he was Satoshi Nakamoto – a pseudonym for Bitcoin’s creator – who mined the 1.1 million Bitcoin and whose white paper “Bitcoin: Peer-to-Peer Electronic Cash System” described a framework of Bitcoin. However, that claim was disputed as Kleiman’s family argued that they both were business partners and that Wright stole the Bitcoin that stemmed from their relationship.

While the Miami jury cleared Wright of almost all issues in dispute, including half of the 1.1 million Bitcoin amassed, the jurors did award $100 million in intellectual rights to W&K Information Defense Research – a joint venture between Wright and Kleiman.

Wright was ecstatic with the verdict as he said, “This has been a remarkably good outcome, and I feel completely vindicated.” Andres Rivero – the lead lawyer representing Wright – was equally happy as he piped, “This was a tremendous victory for our side.”

The crypto community will be looking on with eagle eyes as they wait to see if Wright follows through on his promise to prove that he did, indeed, create Bitcoin. Keep an eye on Wisly for the very latest on this story.

Colombia’s largest bank offers crypto trading

Bancolombia, the largest bank in Colombia, will soon be offering cryptocurrency trading services to its clients. This initiative will be part of a pilot program run by the bank according to a regulatory framework created by Colombia’s financial regulator, the Superintendencia Financiera de Colombia (SFC).

In partnership with New York trust company and crypto exchange – Gemini – customers of Bancolombia will now be able to trade Bitcoin, Ether, Litecoin, and Bitcoin Cash from 14 December 2021. This collaboration is part of a strategic effort from Gemini to expand its operations in Latin America.

Gemini’s Principal of Strategy & Corporate Development – Cynthia Del Pozo Garcia – couldn’t contain her excitement as she announced, “Gemini and Bancolombia will launch a partnership to provide an initial cohort of customers of the Colombian bank a seamless on- and off-ramp to trade Bitcoin, Ether, Litecoin, and Bitcoin Cash through the Gemini exchange. Our partnership is part of a one-year pilot program run by Colombia’s financial regulator, Superintendencia Financiera de Colombia (SFC), and will offer users seamless and secure access to crypto.”

This announcement comes following the SFC’s January promise for nine crypto initiatives to be allowed to test their products within the La Arenera regulatory sandbox in 2021. Keep an eye on Wisly’s blog for the very latest on this.

Crypto exchange Bitmart to compensate users after $150 million hack

Crypto exchange – BitMart – often billed as the most trusted crypto platform has promised to compensate users after a large-scale security breach, resulting in hackers getting their hands on cryptocurrency estimated to be between $150 – $200 million.

According to official reports, the breach was caused by a stolen private key, which then compromised two hot wallets. The disclosure of the hack came soon after crypto prices nose-dived over the weekend and were first revealed by the blockchain security company, PeckShield I. That information was confirmed soon after by BitMart themselves.

A BitMart statement said, “BitMart will use our own funding to cover the incident and compensate affected users. We are also talking to multiple project teams to confirm the most reasonable solutions such as token swaps. No user assets will be harmed. We are now doing our best to retrieve security set-ups and our operation. We need time to make proper arrangements and your kind understanding during this period will be highly appreciated.”

Wisly will keep you up to date on the very latest with this.

Croatian supermarket allows crypto payments

Croatia’s biggest supermarket chain – Konzum – has recently announced that all customers can now purchase from their online store with cryptocurrencies. This exciting initiative is a collaboration between Konzum and Croatian payment processor – Paycek – and came into effect on 1 December 2021, in time for the festive season.

Konzum customers are spoilt for choice with the option to use nine different cryptocurrencies on the store’s online platform. Holders of Bitcoin, Ether, Ripple, Stellar, DAI, EOS, Bitcoin Cash, Tether, and USD Coin can now splurge out. In order for customers to use their crypto, they need to scan a QR code after their items are added to their online cart.

In an effort to counter fluctuating crypto prices, Paycek guarantees the buyer a fixed exchange rate before the transaction takes place and provides customers with sufficient time for the successful execution of that payment. This crypto payment option is limited to online shopping purchases only, although plans are in place to introduce crypto payments at brick-and-mortar stores in the near future.

Uroš Kalinić from Konzum’s management team was delighted with the rollout as he said, “As the largest retail chain in Croatia, which in its almost 65-year history is a continuous leader in the domestic market in terms of business results and technological achievements, we are proud to be leaders in another area that is rapidly developing and dictating the future.” Wisly will keep you on top of things with the latest developments. 

With the number of crypto investors growing exponentially since the pandemic struck, there has been an increase in investment and trading, and a growing need for reliable cryptocurrency wallets so that investors can store their crypto securely. While investors may not have all the technical knowledge about cryptocurrency wallets, there are some fundamental elements that must be considered when choosing the right wallet.

When looking for a crypto wallet, it is important for investors to understand the type of storage on offer, the security protocols of that wallet, and how easy it is to use. In terms of safety, investors must know whether that specific wallet offers online (hot) or offline (cold) storage for your personal crypto key — the pin code that allows investors to access their funds. With that being said, we run through some of the finest crypto wallets on offer for 2021.

Best Crypto Wallets for 2021

Best for beginners: Exodus

Exodus is the most popular crypto wallet for new investors due to its ease of use and flexibility. It is a hot wallet that offers investors insight with live charts and a built-in exchange. Exodus users benefit from 24/7 customer support and have many options available with 145 supported cryptocurrencies on the platform.

Exodus is particularly suitable for desktop crypto traders who are attracted to its quick transaction speeds, ease of use, and wide range of functionality. While Exodus was initially available exclusively for desktop users, it has now expanded its offering for mobile users on Android and iOS. Moreover, users have the luxury of buying Bitcoin with Apple Pay.

Best for advanced Bitcoin users: Electrum

For those investors who invest and trade exclusively with Bitcoin, they need look no further than Electrum to store their bounty. Electrum is a hot wallet that has been the Bitcoin wallet of choice for many investors since 2011 — making it the most popular and oldest Bitcoin wallet in the industry.

Users are attracted to its rapid speed of transactions, ease of use and security protocols. This platform is created to provide unique, Bitcoin-specific security features that are head and shoulders above comparable crypto wallets. Users also have the ability to choose adjustable fees where they have the freedom to determine what their transaction fees will be — based on how long they are willing to wait for their transaction to be processed.

Best for mobile users: Mycelium

Mycelium is one of the most established crypto wallets and began as a mobile-only app. Due to its reputation, it remains an extremely popular option for mobile crypto storage on both iOS and Android. Users have the option of storing their crypto in either hot or cold storage — with offline storage not hindering a user’s ability to continue using the platform.

Mycelium users have the option to choose adjustable fees that are determined by how long they are willing to wait for the transaction to be processed. Mobile app users can benefit from an in-app exchange, trading and crypto learning resources. Although Mycelium primarily accommodates Bitcoin investors, the platform is also compatible with Ethereum and other ERC-20 tokens on the market.

Best for security: Trezor Model T

For those crypto investors who want the highest level of security from a crypto wallet, Trezor Model T is your solution. Trezor Model T is a cold storage platform that offers a user-friendly touchscreen that makes it easy and more intuitive to use while incorporating key enhancements from its predecessor, Trezor One wallet.

Trezor Model T can also boast of being the very first hardware wallet globally to implement Shamir Backup (SLIP39) that provides incredible levels of security in recovery seed — making it exceptionally easy for users to recover their wallet if they happen to lose their device. Cold storage is definitely the way to go for the ultimate protection of your funds, and Tezor Model T features on the top of the list in this category. Investors can expect to pay around $190 for the device.

Best bang for your buck: Ledger Nano S

Ledger Nano S is a fantastic cold storage wallet for those investors who are on a tighter budget. Investors are drawn to this storage platform due to its incredible range of compatibility options with over 1800 cryptocurrencies supported. This makes it perfect for those users who have highly-diverse portfolios and are looking to store a wide variety of altcoins in the same wallet.

Ledger Nano S wallet holders all have access to Ledger Live software, and the hardware includes a certified secure chip — CC EAL5+ — underscoring its commitment to secure storage for investors. Users can store up to three apps at a time and can expect to fork out around $60 for the device — perfect for those investors who are keeping a tight lid on their finances.

Final Thoughts

Whether you are a seasoned crypto investor or just starting out in the crypto game, it is vital that you choose reputable crypto wallets to safeguard your crypto portfolio. With cybercriminals becoming ever more brazen and creative, investors must not compromise when it comes to choosing a safe and secure crypto wallet.

While all the crypto wallets discussed above have excellent track records when it comes to safety and security, the choice is ultimately up to you when selecting your storage platform. Make sure to do your research before committing to a crypto wallet and always evaluate your personal circumstances to choose a crypto wallet that is most suitable. Good Luck!

It is important to note that investing in cryptocurrencies is a risky and highly speculative proposition. This article does not provide recommendations, advice or guidance regarding cryptocurrency investments but is rather our opinion on such activities. Investors must conduct their own research and engage in the services of qualified professionals before making any financial and/or cryptocurrency investment decisions. We do, however, recommend established platforms like Wisly to monitor and analyse your crypto investments.

The world of crypto never ceases to amaze us with another week filled with fascinating developments that are sure to keep crypto enthusiasts purring with delight.  Incoming New York mayor wants crypto to be taught at schools; Mastercard launches crypto payment cards in Asia-Pacific; Bank of England governor slams crypto assets; and Zimbabwe pushes ahead with Bitcoin adoption plans.

Incoming New York mayor wants crypto to be taught at schools

New York’s incoming mayor, Eric Adams, has ambitious plans to make New York City the epicenter of crypto and innovation – starting by opening up schools to teach cryptocurrency and blockchain technology. Adams is of the view that Bitcoin is the new way of paying for goods and services around the world, and he wants New York to be at the very heart of this. In light of this, he has encouraged schools to teach students about crypto and businesses in the city to accept Bitcoin and other cryptocurrencies.

An excited Adams said, “I want to send a signal. This city was the Empire State….This is the center of innovation, self-driving cars, drone development, cybersecurity, life sciences… And that is what we must do: open our schools to teach the technology and teach this new way of thinking when it comes down to paying for goods and services.”

Adams went one further by claiming on Twitter that he would take his first three paychecks as New York mayor in the form of Bitcoin. Responding to that, esteemed professor at Harvard University and former Chair of the Council of Economic Advisors – Jason Furman – stated, “Not only is this a bad economic strategy for New York City and a bad investment decision, but it also seems like a conflict of interest. Like a mayor announcing I’m buying Amazon stock and then going to put in place policies to benefit Amazon.”

As always, Wisly will keep you updated on the very latest with this story. 

Mastercard launches crypto payment cards in Asia-Pacific

Exciting times abound for Mastercard users in Asia-Pacific as the global payments giant has announced a new partnership with cryptocurrency service providers Amber, Bitkub and CoinJar to launch a historic first crypto-funded Mastercard payments card in the Asia-Pacific region.

Mastercard first announced its support for cryptocurrencies earlier this year in February, and this most recent development underscores its commitment to crypto users. With many merchants around the world already accepting Bitcoin and other cryptocurrencies, the decision to introduce a crypto-funded payments card became much easier for Mastercard.

Australian-based CoinJar and Thailand-based Amber Group, and Bitkub currently offer the crypto purchase and exchange services within their respective borders and are delighted to expand their offering by joining Mastercard’s global Crypto Card Program that allows cardholders to convert their crypto to fiat currency.

Mastercard’s Executive Vice President of Asia-Pacific – Rama Sridhar – beamed with delight as he said, “Cryptocurrencies are many things to people—an investment, a disruptive technology, or a unique financial tool. As interest and attention surges from all quarters, their real-world applications are now emerging beyond the speculative. Rather than directly transferring cryptocurrencies to a merchant, cardholders will now be able to instantly convert their cryptocurrencies into traditional fiat currency which can be spent everywhere Mastercard is accepted around the world, both online and offline. Currency will always enter Mastercard’s network as traditional fiat currency.”

Sridhar added, “Mastercard isn’t here to recommend you start using cryptocurrencies. But we are here to enable customers, merchants and businesses to move digital value – traditional or crypto – however they want. It should be your choice, it’s your money!” Wisly will keep you posted on the very latest.

Bank of England governor slams crypto assets

Governor of the Bank of England – Andrew Bailey – has slammed crypto assets and raised concerns about how they potentially encourage illegal activities. He expressed his thoughts at a recent event where he claimed that the widespread acceptance of cryptocurrencies as a form of payment helped to aid the cause of scammers and cybercriminals.

Bailey was firm in his beliefs as he said, “I’m afraid that the advent of digital means of payment, and in particular crypto assets… is providing another means of payment for people who want to conduct criminal activity.” His comments echoed the sentiments of former deputy governor of the Bank of England – Jon Cunliffe – who was vocal in his push for tougher crypto regulations in the country. Cunliffe previously stated, “The crypto-world is beginning to connect to the traditional financial system and we are seeing the emergence of leveraged players. And, crucially, this is happening in largely unregulated space.”

Despite these comments, key players in the country’s financial industry were of the opinion that the Bank of England would buckle under pressure and succumb to the crypto wave by buying Bitcoin before it rises to $1 million per coin. Keep an eye on Wisly’s blog for the very latest on this.

Zimbabwe pushes ahead with Bitcoin adoption plans

Zimbabwe is pushing ahead with its plans to introduce Bitcoin as legal tender in the country in a move that mirrors El Salvador’s Bitcoin adoption earlier this year. With the global rate of crypto adoption sitting at all-time highs coupled with developing nations under pressure from high inflation, many countries with ailing economies are warming up to the idea of using Bitcoin as legal tender.

Zimbabwe is now amongst those countries that are assessing their crypto options and looking for new avenues to tap into its growth. A local publication in the Southern African country recently revealed that the government was exploring the option of Bitcoin adoption as legal tender in an effort to meet the growing demand and leverage the technology capabilities.

Zimbabwe’s Head of the Office of the President – Brigadier Colonel Charles Wekwete – let the cat out of the bag by indicating that the government had already held discussions with businesses in the region and was involving all core sectors to gain valuable insight before making changes to their financial system. Wekwete added that the government was looking at ways to regulate the crypto sector in order to protect investors and ensure that Zimbabwe’s financial future was secure.

Wisly will keep you posted on the latest developments with this story.

When cryptocurrencies were first introduced, banks and financial institutions across the globe were quick to dismiss them and sowed plenty of doubt to dissuade people from engaging with them. New York in 2014 was a classic example of this as financial regulators were looking at ways to control the growing wave of Bitcoin – a disruption to traditional financial institutions.

Initial skepticism from banks

Some executives at the biggest banks in Wall Street feared that regulating cryptocurrencies would indicate that these banks were legitimising them – something that could threaten the ecosystem of the finance industry and traditional banking systems.

Key figures in the banking industry were unequivocal in their disdain for cryptocurrencies, with JP Morgan’s CEO at the time – Jamie Dimon – describing Bitcoin as a terrible store of value that was intended to be used for illicit purposes. Moreover, the finance industry’s pre-eminent lawyer in the US – H Rodgin Cohen – warned New York’s regulators about the concern that the federal government expressed about Bitcoin and its use.

All this criticism was in vain, however, as New York’s Department of Financial Services viewed cryptocurrencies differently. In light of this, they started to issue licenses for Bitcoin businesses in 2015, marking a seismic shift from the traditional way of doing things. Such was the impact of that decision that today we now have more than 220 million cryptocurrency users globally, with that number rapidly growing each passing day. 

How banks embrace digital currencies today

While the initial resistance to Bitcoin from traditional financial institutions might have stemmed the tide, it certainly didn’t distract people from exploring digital assets and the plethora of opportunities on offer. The rise of Bitcoin attracted thousands of other cryptocurrencies to the market, together with fresh investments from investors all around the world – a nightmare manifesting for the world’s biggest banks.

With a stark realisation from the banks that cryptocurrencies were not going away anytime soon, banks and financial institutions suddenly found themselves swimming upstream in an effort to catch up with this new world filled with possibilities. Previous criticism was shelved as banks and financial institutions started to explore cryptocurrency offerings and implored regulators to create favourable crypto rules for them.

In a U-turn of epic proportions, bank representatives became critical of financial regulators who were not working quick enough to help banks regulate their crypto services and offering – inactions that were proving to be costly for banks across the globe as investors sought decentralised platforms.

Such an alternate financial world became a massive threat to the traditional financial model as crypto startups were offering loans and credit cards, facilitating cross-border payments, and enabling easy transactions without intermediaries. People appeared to be embracing digital currencies in their droves – in turn, hurting the pockets of banks and financial institutions globally.

With crypto regulations easing favourably in many countries, more and more banks and financial institutions are exploring the potential of blockchain technology and digital assets. Although it has taken time, banks and financial institutions around the world have started to extend their offering with crypto products and services that appeal to the needs of their customers – something they hope would help them to maintain their monopoly.

Many banks and financial institutions have even offered massive bonuses and incentives to attract crypto talent to their organisations – a move designed to better understand the crypto ecosystem and maximise their offering.

The future of banks and cryptocurrency

The crypto boom has become too large to stop with banks and financial institutions realising that they may get left in the cold if they ignore digital assets for much longer. El Salvador’s recent adoption of Bitcoin as legal tender in the country is evidence of how cryptocurrencies can integrate with traditional banking systems with the right support from government and financial regulators.

Zimbabwe is another country looking at introducing cryptocurrency services in the future, while many developing Central and South American countries are looking to emulate El Salvador’s crypto adoption. Countries like China and Nigeria have already introduced their own digital currencies to provide comparable products and services to cryptocurrencies, while many first world nations are looking to do the same.

JP Morgan’s digital currency, Onyx, is backed by the US Dollar and built on technology that mimics the structure of blockchain – further evidence that cryptocurrencies can successfully be integrated with traditional banking systems. Global giants like MasterCard and PayPal have also introduced cryptocurrency services as part of their offering – a move that has proven to be very successful with crypto investors. That’s without even mentioning the growing number of companies around the globe that are extending their offering to cryptocurrency users.

Final thoughts

It’s clear that cryptocurrencies are here for the long haul and while traditional financial institutions have taken time to warm up to these digital assets, they have seemingly swallowed their pride and embraced cryptocurrencies in an effort to appear more appealing to the rapidly growing number of crypto users globally.

The crypto industry and its underlying technology have become too big to ignore, something that traditional financial institutions are quickly adapting to. The future of cryptocurrencies integrating with traditional financial institutions certainly appears to be much brighter!

It’s important to note that investing in cryptocurrencies is a risky and highly speculative proposition. This article does not provide recommendations, advice, or guidance regarding cryptocurrency investments but is rather our opinion on such activities. Investors must conduct their own research and engage in the services of qualified professionals before making any financial and/or cryptocurrency investment decisions. We do, however, recommend established platforms like Wisly to monitor and analyse your crypto investments. 

It’s been another fascinating week in the world of crypto with some eye-catching news that’s sure to raise some eyebrows amongst crypto enthusiasts. Venezuelan authorities clamp down on illegal Bitcoin miners; Brazilian investment bank extends offering with crypto services; Australian Police seize $1.2 million in crypto from Sydney hacker; and Top American University accepts crypto for tuition fees. 

Venezuelan authorities clamp down on illegal Bitcoin miners

Officials in Venezuela have seized over a hundred Bitcoin mining machines from illegal crypto miners operating from a residential area in one of the country’s central states. The Bitcoin mining farm was in operation without the necessary permits required for such activities – in accordance with the country’s cryptocurrency watchdog, Sunacrip.

The seizure was led by authorities from Venezuela’s power company, national police, and officials from Sunacrip who raided the illegal operation in the suburb of Miranda situated in central Venezuela. According to reports, the crypto mining farm was easy to locate as it was draining the power distribution system in the area – prompting an investigation to check for unreported crypto mining activities.

While crypto mining is legal in Venezuela, miners must acquire specific permits that are issued by Sunacrip, which are designed to protect the electrical grid from collapsing. Upon the raid, authorities proceeded to dismantle the crypto farm and confiscate the mining equipment. The raid serves as a warning to those crypto miners that are performing their activities illegally in the country. Authorities hope that this would now encourage illegal crypto miners to apply for mining permits to continue with their activities.

Wisly will keep you in the loop with the very latest. 

Brazilian investment bank extends offering with crypto services

Popular Brazilian investment bank, BTC Pactual, has recently announced the rollout of a new crypto-trading app that allows users to trade in cryptocurrencies for direct crypto investments. The revolutionary app – Mynt – has elevated the bank’s status in Brazil as BTC Pactual is now the first investment bank to allow its customers to invest directly in cryptocurrencies.

Mynt enables users to trade in Bitcoin and Ethereum while measures are in place to add more cryptocurrencies to the list. Head of Virtual Assets of BTC Pactual – Andre Porthilo – was delighted with the new product offering, stating that the bank wanted to fulfil the needs of its customers amidst growing crypto interest in the country.

Since El Salvador’s recent Bitcoin adoption as legal tender, more countries in Central and South America are warming up to crypto adoption. In light of this, BTC Pactual wants to provide an educational platform that trains its customers on cryptocurrencies, their underlying technology, and how cryptocurrencies benefit users in everyday life.

BTC Pactual has assured its customers that their Mynt app is regulated by the Brazilian Central Bank and its SEC, making customers more comfortable with using the app knowing that top bodies are regulating it.

As always, Wisly will get you up to speed on the latest with this story.

Australian Police seize AU$1.2 million in crypto from Sydney hacker

Police in Australia have discovered around AU$1.2 million in cryptocurrency during an investigation on a hacker in Sydney. In a joint operation with the FBI, Australian police arrested a hacker who had supposedly stolen Netflix and Spotify subscriptions which he then sold at a much cheaper price to third parties online.

The 23-year-old hacker from Sydney was in cahoots with an American national and worked under the radar to steal the login details of streaming service customers. The Australian Federal Police was tipped off by the FBI, who advised that the hacker was using an account generator website – WickedGen.com – to sell stolen account details for online subscription services.

Upon being caught, the Supreme Court of New South Wales ordered that the convicted hacker should forfeit the proceeds of his devious crimes to the country – a large portion of which was AU$1.2 million worth of cryptocurrencies. The investigation also uncovered that the hacker operated three other similar websites.

The Criminal Assets Confiscation Taskforce (CACT) in the country was responsible for obtaining restraining orders over all of the hackers’ accounts – crypto, bank and PayPal – all of which bore false names that the hacker owned. The seizure of AU$1.2 million in crypto is the highest forfeiture of its kind in a Commonwealth country. 

Australian Home Affairs Minister – Karen Andrews – was ecstatic with efforts to apprehend the thief as she said, “Good work by the AFP has seen a criminal stripped of their ill-gotten gains, and this money redirected to enhancing the safety and security of communities right around Australia.”

Keep an eye on Wisly for the very latest on this story.

Top American University accepts Bitcoin for tuition fees

One of the leading business schools in the US – The Wharton School of the University of Pennsylvania – has recently announced that it will be accepting Bitcoin as well as other cryptocurrencies from students who want to pay their tuition fees. This exciting development sent shockwaves across the region as excited students now have another option to clear off their student debt.

The crypto payment adoption at the University is limited, however, to a new course – Economics of Blockchain and Digital Assets – that is due to start on 3 January 2022 at the business school. It is expected to run over a period of six weeks where students will learn more about the potential use cases of cryptocurrencies, NFTs and CBDCs. Tuition fees for this course equates to $3,800, and students will be able to settle their fees with Ether, USDC or Bitcoin.

Academic Director for the program – Professor Kevin Werbach – beamed with delight as he said, “We designed this program for business professionals and executives from a range of backgrounds, including traditional finance, management, and tech. We hope to equip business leaders, consultants, and entrepreneurs to identify the value drivers of these innovative technologies and to give them the practical understanding to build solutions.”

Wisly will keep you up to speed with the latest development on this story.

Another tantalising crypto week has bitten its way through October with some tasty tit-bits for crypto enthusiasts to digest. Mastercard partners with Bakkt to offer crypto; Tom Brady offers fan 1 Bitcoin for returning 600th TD ball; PayPal-owned Venmo expands crypto services; and momentum builds for a world-first crypto island. 

Mastercard partners with Bakkt to offer crypto

Crypto users in the US have been given a boost as Mastercard has announced a partnership with popular fintech company – Bakkt. The move will enable thousands of merchants and banks onto its extensive payments network in the US and will now offer cryptocurrency services and solutions.

Bakkt hopes to expand the company’s ecosystem of crypto partners that will allow for crypto-as-a-service and provide its customers with quick and easy access to digital asset capabilities. Customers, in turn, will have the ability to spend their cryptocurrency rewards at retailers on Mastercard’s network.

Moreover, customers will now be able to buy, sell and hold digital assets through custodial wallets that operate on Bakkt’s digital asset platform. Soon after the announcement, Mastercard’s stock gained 1% and sat on $361.2 per share, while Bakkt shares shot up by 40% to $12.80 per share.

Mastercard’s executive vice president – Sherri Haymond – was ecstatic as she said, “MasterCard is committed to offering a wide range of payment solutions that deliver more choice, value and impact every day. Together with Bakkt and grounded by our principled approach to innovation, we will not only empower our partners to offer a dynamic mix of digital assets options but also deliver differentiated and relevant consumer experiences.”

Wisly will keep you updated on the very latest. 

Tom Brady offers fan 1 Bitcoin for returning 600th TD ball

Things couldn’t get any better for avid Tampa Bay Buccaneers fan – Byron Kennedy – when Tampa Bay receiver, Mike Evans, handed him the ball that was used for Tom Brady’s 600th career touchdown pass. While Kennedy was tempted to keep the ball that would have guaranteed him a six-figure fortune at an auction, he selflessly chose to return the ball to Brady.

In an act of gratitude for Kennedy’s gesture, the NFL superstar gifted him with a personalised package that included three signed jerseys and 2022 season tickets. If that wasn’t enough, Brady revealed Kennedy’s biggest reward live on ESPN as he said that the die-hard fan would be given 1 Bitcoin as well – valued at over $62,000 at the time.

Brady became the first player in NFL history to go over 600 passing touchdowns and will cherish his historic touchdown ball, while Kennedy will undoubtedly enjoy his handsome crypto reward together with all the adulation that comes his way from across the globe – incredible!

Wisly will keep you in the loop with up-to-the-minute action.

PayPal-owned Venmo expands crypto services

Venom wallet – owned by PayPal – has recently announced exciting plans to expand crypto services to its customers. Venmo’s app is commonly used to pay and request money from people without cash. Hot off the heels of PayPal’s crypto adoption, Venmo has now decided to broaden its horizon by offering cryptocurrency services.

One notable feature is the introduction of a cashback to crypto option that enables users to convert their cashback into crypto automatically and efficiently. The roll-out of these extended crypto services only supports Bitcoin, Ethereum, Litecoin and Bitcoin Cash for now – although more options are being explored.

Customers typically earn cashback rewards when they purchase at selected Venmo merchants with their Venmo Mastercard Debit or Credit cards. Users must enable this feature on their app before qualifying to use the feature. Users must navigate to the Credit Card section of the app and select Rewards before choosing the crypto option of their choice. This is certainly a step in the right direction as more companies warm up to crypto adoption.

Keep an eye on Wisly’s blog for the latest on this story.

Momentum builds for world-first Crypto Island

Crypto Island – a historic project to buy and decentralise a private island – has gathered momentum as its incorporation has finally become official. This blockchain-based project was initiated by its community and plans to offer crypto enthusiasts and investors an opportunity to co-own the world’s first decentralised private island – amazing!

Crypto Island will now form a legally independent entity that will fall under the name of Crypto Island Group Incorporated. Essentially, the incorporation will operate as the token user in a highly complex company structure that is created to make tokenising the ownership of the island a reality.

CEO of Crypto Island – Dan Bouwer – couldn’t contain his excitement as he said, “Extremely proud to announce we’ve succeeded in finding a way of making decentralized living possible! With this, we will be globally recognized as an official company and the first ever to make tokenizing ownership of land and properties legally possible.”

Wisly will keep you informed every step of the way.