Press Information Press Information 15.06.2024

LINK’s Breakdown Suggests Long-Term Bullish Trend Might Have Ended

LINK’s Breakdown Suggests Long-Term Bullish Trend Might Have Ended

BeInCrypto (BeIn News Academy Ltd), we're writing about crypto. BeInCrypto (BeIn News Academy Ltd), we're writing about crypto. 24.12.2020 14:00
The Chainlink (LINK) price has been falling since breaking down from a parallel channel on Dec. 17. The long-term bullish trend may have ended, and LINK will continue declining towards the support area at $5. Long-Term Trend LINK has been increasing mostly throughout its price history, beginning in 2017. In Jul. 2019, it reached a high of $4.90 before declining, followed by another unsuccessful breakout attempt in Feb. 2020. LINK finally broke out successfully in July and continued rallying at an accelerated rate until it reached a high of $20.71 in Aug. However, it has been moving downwards since. Technical indicators have turned bearish. The MACD is losing strength, the RSI has just crossed below 50, and the Stochastic Oscillator has made a bearish cross. Chart By TradingViewIf LINK continues falling, the closest long-term support area is at $5. Channel Breakdown The daily chart shows that LINK had been trading inside a parallel ascending channel since after reaching a low of $7.28 on Sept. 23. It broke down from the channel on Dec.8 and validated it as resistance afterward on Dec. 17 (shown with the red arrow). Since then, it has been moving downwards at an accelerated pace. On Dec. 23, LINK reached a low of $8.03 but subsequently rallied, leaving a lower wick with a magnitude of 26.66%. This caused it to remain above the minor $8.90 support area. Similar to the weekly time-frame, technical indicators are bearish, supporting the continuation of a downward move. Chart By TradingViewLINK’s Wave Count Cryptocurrency trader @TheEWguy outlined a LINK chart, stating that the trend is bullish. He expects new highs towards $27 and eventually $36. Source: TwitterSince the tweet, LINK has instead broken down and invalidated the bullish scenario. Therefore, the remaining possibility is that LINK is in a bearish A-B-C corrective structure (shown in orange below), which should end near $5. While the target found by making the A:C wave ratio 1:1 is at $4. the fact that the long-term support area is at $5 suggests that it could act as the bottom. The sub-wave count is given in black. LINK Chart By TradingViewConclusion To conclude, while short-term relief could occur, LINK should continue moving downwards towards the support area at $8.90, and possibly $5. For BeInCrypto’s latest Bitcoin (BTC) analysis, click here! Disclaimer: Cryptocurrency trading carries a high level of risk and may not be suitable for all investors. The views expressed in this article do not reflect those of BeInCrypto. The post LINK’s Breakdown Suggests Long-Term Bullish Trend Might Have Ended appeared first on BeInCrypto.
California Leads the Way: New Climate Disclosure Laws Set the Standard for Sustainability Reporting

The President’s Working Group Ponders Stablecoin Regulation

BeInCrypto (BeIn News Academy Ltd), we're writing about crypto. BeInCrypto (BeIn News Academy Ltd), we're writing about crypto. 24.12.2020 12:43
The United States President’s Working Group on Financial Markets, a group responsible for enhancing the “integrity, efficiency, orderliness, and competitiveness” of US financial markets, has issued a statement on the regulation of stablecoins. According to the working group, the new regulations specifically target stablecoins: “These requirements address a range of policy objectives, including safety and soundness, countering illicit finance, end-user protection, and market integrity. In particular, stablecoin arrangements with greater potential scale, complexity, and interconnectedness should consider.” Why is the Group Considering the Regulation? The document states that the group views stablecoins as a potential regulatory risk. The document states: “Depending on its design and other factors, a stablecoin may constitute a security, commodity, or derivative subject to the U.S. federal securities, commodity, and/or derivatives laws. If so, the federal securities laws,3 and/or the Commodity Exchange Act (“CEA”),4 would govern the stablecoin itself, transactions in, and/or participants involved in the stablecoin arrangement. Whether a stablecoin is a security, commodity, or derivative will depend on the relevant facts and circumstances.” All stablecoins won’t be considered securities or derivatives, but they may be depending on their makeup. This statement is significant given the members that make up the President’s Working Group of Financial Markets. They include the Secretary of the Treasury, the Chairperson of the Board of Governors of the Federal Reserve, the Chairperson of the Commodity Futures Trading Commission, and the Chairperson of the Securities Exchange Commission (SEC). One notable member is SEC Chairperson Jay Clayton, who, as head of the watchdog, was involved in the recent charges brought against Ripple. On Wednesday, the SEC filed a suit against Ripple and two of its top executives for conducting an unregistered sale of securities. The SEC states that they perceive XRP, the native currency of the Ripple network, to be a security and not a currency like bitcoin or ethereum. This classification means that Ripple, it’s co-founder, and current CEO are responsible for the sale of unregistered securities and will be held accountable. As the cryptocurrency market continues to mature, regulatory bodies will likely scrutinize cryptocurrencies with additional oversight. What is a Stablecoin? A stablecoin is a cryptocurrency directly pegged to an underlying asset, fixing its value as accurately as possible to that asset. Unlike other cryptocurrencies such as Bitcoin or Ethereum, stablecoins experience much less volatility. Volatility is dependent on the underlying asset. Most stablecoins are supposedly backed by fiat currencies such as the US dollar or precious metals like gold. With stablecoins, users get all the benefits of blockchain technology without the increased volatility and wild price swings. The post The President’s Working Group Ponders Stablecoin Regulation appeared first on BeInCrypto.
California Leads the Way: New Climate Disclosure Laws Set the Standard for Sustainability Reporting

Zilliqa (ZIL) Breaks Out and Nearly Doubles in Value

BeInCrypto (BeIn News Academy Ltd), we're writing about crypto. BeInCrypto (BeIn News Academy Ltd), we're writing about crypto. 24.12.2020 09:56
Since breaking out at the end of November, the Zilliqa (ZIL) price proceeded to increase by nearly 150%. While Zilliqa has been rejected from the highs, it is expected to reverse its trend and resume its upward movement.   Zilliqa Long-Term Levels The weekly chart shows that ZIL has broken out above the $0.027 long-term resistance area near the end of November. Since then, ZIL has increased considerably to reach a high of $0.066. The next closest resistance area is found at $0.091 (0.382 Fib retracement level). Conversely, the support area is found at $0.027, This is both the breakout level and the 0.618 Fib retracement level (black) of the upward movement so far. Technical indicators are bullish, supporting the continuation of the upward move, especially considering the Stochastic oscillator has just made a bullish cross. The logarithmic chart is used in the chart below in order to better visualize large price fluctuations. ZIL Chart By TradingViewCurrent Movement Lower time-frames for ZIL show a significant bearish divergence in both the RSI and MACD during the aforementioned $0.0667 high. However, a significant drop has already occurred as a result of the divergence. ZIL Chart By TradingViewThe two-hour chart shows that ZIL is trading at support near $0.051. The next lower support is found at $0.046. While the MACD has turned negative, the RSI has generated a hidden bullish divergence. This suggests that ZIL is expected to reverse its trend soon and continue moving higher. ZIL Chart By TradingViewZIL Wave Count Cryptocurrency trader @CryptoTony_ outlined a ZIL chart, stating that it has begun an extended third wave in a bullish formation that could eventually take it to $1. Source: TwitterWhile it is possible that the count presented is correct, it seems more likely that the ongoing increase is wave 3 (shown in white below), instead of being sub-wave 1 of wave 3. The main reason for this is the similar lengths of time between waves 1 and 3, and also the fact that they have a 1:1.61 ratio. This ratio is very common in bullish impulses. Therefore, while ZIL is still expected to move upwards after completing wave 4, the high for the top of the move is likely to be closer to $0.115 rather than $1 as presented in the tweet. The sub-wave count is shown below in orange. ZIL Chart By TradingViewConclusion While Zilliqa is expected to bounce from the current support area, it’s likely still mired in a medium-term correction. For BeInCrypto’s latest Bitcoin (BTC) analysis, click here! Disclaimer: Cryptocurrency trading carries a high level of risk and may not be suitable for all investors. The views expressed in this article do not reflect those of BeInCrypto. The post Zilliqa (ZIL) Breaks Out and Nearly Doubles in Value appeared first on BeInCrypto.
European Central Bank's Potential Minimum Reserve Increase Sparks Concerns

What’s Next for XRP and the SEC?

BeInCrypto (BeIn News Academy Ltd), we're writing about crypto. BeInCrypto (BeIn News Academy Ltd), we're writing about crypto. 24.12.2020 09:21
Following one of the most anticipated airdrops in crypto history, XRP is under the scrutiny of the US federal government. With a plummeting price and exchange delistings, XRP is facing challenges like never before. On Dec. 22, 2020, Ripple announced they were expecting a lawsuit to be filed against them by the US government. The Securities and Exchange Commission (SEC) was to argue that XRP, Ripple’s token, was a security. Since Ripple sold their token without going through official channels, this meant XRP was sold illegally. Just a day later, the SEC officially charged Ripple of illegally raising $1.3 billion. But whether the lawsuit is valid are not hinges on the definition of XRP. The lawsuit says XRP fundraising was the illegal sale of a security. If XRP can be proven to be a currency —  as Ripple claims — rather than a security, then Ripple could be exonerated. While the surprise announcement made XRP’s value plummet, there were warning signs. Came out of somewhere Ripple Labs officials had been warning of possible friction with US regulators for a while. In fact, on Dec. 3, 2020, Ripple CEO Brad Garlinghouse appeared on CNN and stated that XRP’s regulatory status was not clear. At the time, Garlinghouse expressed concern about the company’s ability to operate in the US. However, he added that only 5 per cent of Ripple customers are located in the US. XRP/USDT 3 Month View On TradingviewOther major cryptocurrencies, such as ether (ETH) and bitcoin (BTC), have been explicitly labeled as not being securities by the SEC. XRP, which Ripple says will be used for large financial transactions, could easily be considered a currency as well. Until the lawsuit became public knowledge, there was no reason to say for sure the SEC would try to designate XRP in this manner. But it did. As a result of this announcement, the price of XRP plummeted 36 per cent in one day to $0.27, at the time of writing. Recent highs had been around $0.79. The SEC has charged @Ripple with conducting an unregistered security sale. Due to this, #Beaxy has halted trading for XRP pending further news. $XRP withdrawals will remain enabled until further notice. pic.twitter.com/lVVqXJPdPP— Beaxy Exchange (@BeaxyExchange) December 22, 2020Dumping, delisting, and ghosting The price drop was fueled by fleeing institutional and retail investors. Bitwise, a crypto hedge fund that holds the top ten crypto assets, completely sold off their XRP in favor of other, unnamed assets. Before the dump, XRP made up 3.8 per cent of Bitwise’s portfolio. The Fund does not invest in assets that are reasonably likely to be deemed securities under federal or state securities laws. Bitwise’s decision to liquidate its position in XRP was based on consideration of new public information from the SEC’s complaint— frxresearch (@frxresearch) December 23, 2020Besides Twitter users running around like headless chickens, there were also the delistings. A number of crypto exchanges delisted XRP in fear of facing scrutiny from the US government. Suspicions flare up The view of many crypto enthusiasts that XRP had “sold out” to centralized banks fueled suspicion about the timing of this announcement. Some feel that announcing after the Spark token airdrop but before the SEC went public was manipulation. The fact that Ripple knew about the lawsuit early sparked suspicion that the company was holding back the announcement until after Dec. 11, 2020. That date saw a snapshot of XRP wallets for the Flare Network token drop. Why would y'all take advice about this, $XRP dumpppped again on the investors, that owner of $ripple knew he was being sued after the airdrop and all time high this year HE SOLDm don't go e shitty advice on a scam project. Two days before Christmas they start all this shit show— EDDITINGLIFE (@EDDIETINGLIFE) December 23, 2020Interestingly, there are claims that Jed McCaleb, Ripple co-founder, moved $49 million worth of XRP (133,152,655) before the worst of the price dump. After leaving XRP, the former programmer went on to become CTO of Stellar, a competing crypto asset. Stellar received 100 million XRP in a lawsuit with Ripple and the exchange Bitstamp. In this case, the funds were moved from the settlement wallet to a personal wallet purportedly owned by McCaleb. The movement of these funds suggested a large sale, and this has fueled further accusations of XRP being a “scam” by frustrated users. I told it from the beginning biggest scam in the crypto space!— Will (@Will20891034) December 23, 2020On the other hand, some believe that XRP is clearly a currency. Announcing the lawsuit before the SEC made it public may have been a machination by Ripple. In theory, going public would force the US government to define a security in a way that their legal team could fight: No! Brad is a gatdamn GENIUS! He is forcing the SEC's hand to give him "CLARITY!"…a ruling; and he know's (we all know) what the ruling has to be! #XRPISACURRENCY The IMF, FinCen, BIS, World Bank, The Fed, Central Banks and all countries using it have all agreed its a currency.— Torchy Burns XRP Borg (@TorchyBurns1) December 22, 2020What’s next for XRP? It is hard to say what’s next for XRP, but history has seen similar situations that did not end in disaster. The lawsuit could be costly, but with crypto-friendly politicians in congress, it could get dropped. Meanwhile, Jay Clayton, whose tenure saw the rejection of all crypto ETF applications, has resigned form his position as head of the SEC. President-elect Biden’s administration could shake up policy. On a similar note, some initial coin offerings (ICOs) faced legal trouble, lost their cases, but still landed on their feet. The Tezos Foundation faced a lawsuit this year, in which investors said the ICO was an unlicensed security sale. Tezos settled the suit for $25 million in damages, and the court did not rule whether the asset was a security or not. Though a painful blow, the current Tezos market cap is about $1.5 billion and is apparently not hurting that much. Likewise, in August 2019, messaging app Kik was accused of holding an unauthorized securities sale. In October 2020, the courts finally ruled that the tokens were indeed securities. They fined Kik a mere $5 million. Even if Ripple loses their case, they could continue to operate outside of the US. They do not face such restrictions elsewhere, and if five per cent of customers lie in the US, then this is apparently not the end of Ripple Labs as we know it. In the end, there are haters and there are evangelists. But if XRP gets out of this alive in the future, it may be trading at a discount right now. They committed fraud, and from an ethical perspective they indeniably dumped on their users and paid CEX to list them. Crypto would be a lot cleaner and healthier without such frauds taking so much space.— Edouard (@Edouard60851393) December 23, 2020The post What’s Next for XRP and the SEC? appeared first on BeInCrypto.
Active Bitcoin Addresses Have More than Doubled During Rollercoaster 2020

Active Bitcoin Addresses Have More than Doubled During Rollercoaster 2020

BeInCrypto (BeIn News Academy Ltd), we're writing about crypto. BeInCrypto (BeIn News Academy Ltd), we're writing about crypto. 24.12.2020 09:10
According to Coin Metrics, a cryptocurrency market and data analysis firm, the number of active Bitcoin addresses has increased by a whopping 105% in 2020. While many have celebrated Bitcoin increasing threefold in price this year, other important metrics have gone mostly unnoticed. Aggregated in Coin Metric’s “State of the Network 2020” report, this growth in price has revealed a similar trend in exposure and usage. Active Bitcoin wallets have more than doubled, a metric that exhibits continued adoption by users. This amount of new addresses in use can indicate that new users are getting involved, as returning Bitcoin buyers do not necessarily need to create a new address. Bitcoin Perfect Storm 2020 has been a difficult year globally. The COVID-19 pandemic has caused massive economic uncertainty, inflation, and other problems. Following the 2008 financial crisis, Satoshi Nakomoto created Bitcoin so that governments would no longer have singular control over the monetary system. Perhaps a year like 2020 highlights why this is important. There are a variety of factors that have helped solidify Bitcoin as a store and transfer of value, as well as a hedge against inflation. One example is the massive amount of money printed by the US government. The US dollar is the world’s reserve currency, meaning many central banks all over the world hold the US dollar as part of their reserves. Due to economic uncertainty, increased spending, and other factors, the Federal Reserve has been on a dollar printing spree, printing over one-third of all US dollars that have ever been in existence in 2020. Some companies that hold US dollars as a majority of their reserves took notice and decided it was time to take action and diversify into other assets. With Bitcoin’s pre determined supply and amount of coins in circulation, many users, both retail and institutional, have started to view Bitcoin as a more mainstream hedge against inflation. Traditionally, firms would invest in precious metals or real estate to hedge against inflation, but Bitcoin has many principles that can make it a superior store of value in many respects. Positive Correlation Bitcoin was designed to act this way, with characteristics of money like durability, portability, divisibility, uniformity, and limited incorporation to make Bitcoin a more sound currency than its fiat contemporaries. It is undeniable that Bitcoin’s drastic price increase has a major impact on the number of users creating and using their new Bitcoin wallet, but the fact that so many new addresses were created points to more widespread adoption. Although it’s possible to make one-off wallet addresses to anonymize holdings, many users are probably creating and using these wallets for the first time. This is a strong signal of Bitcoin’s fundamental growth. The post Active Bitcoin Addresses Have More than Doubled During Rollercoaster 2020 appeared first on BeInCrypto.
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Bitcoin Creates Double Top After Second Failed Attempt at $24,000

BeInCrypto (BeIn News Academy Ltd), we're writing about crypto. BeInCrypto (BeIn News Academy Ltd), we're writing about crypto. 24.12.2020 07:27
The Bitcoin (BTC) price made another all-time high breakout attempt on Dec. 23 but was rejected and has been decreasing since.   However, technical indicators are not all that bearish. Bitcoin is expected to reverse its trend at one of the support levels examined below. Bitcoin Trend Weakens Slightly Yesterday, the BTC price reached a high of $24,100 in another attempt at reaching a new all-time high. However, the higher prices could not be sustained. BTC was swiftly rejected and proceeded to drop back to $22,600.  Technical indicators have begun to show early signs of weakness, but are not close to confirming a bearish trend.  The MACD is in the process of creating the first lower momentum bar in nine days, but the daily candle has yet to close. The RSI has generated a bearish divergence and has begun to fall. It may end up invalidating this with a hidden bullish divergence depending on the daily close. The Stochastic oscillator is still bullish and increasing. BTC Chart By TradingView Short-Term Movement Lower time-frames show that BTC has broken down from an ascending support line and validated it as resistance after. In addition, it’s also facing resistance from the minor $23,950 area. Technical indicators in the six-hour time-frame are turning bearish but the RSI is still above 50. BTC Chart By TradingView Tthe two-hour time-frame gives two support levels at $22,400 and $21,800. Indicators show that the price movement is more akin to consolidation than it is to the beginning of a new downward trend.  Therefore, BTC is expected to find support at one of these two levels and begin to move upwards again. BTC Chart By TradingView BTC Wave Count The most likely wave count suggests that BTC is in wave 4, which is expected to end near $21,675 (0.382 Fib retracement level). The reason for the shallow correction is the principle of alternation after the deep retracement in wave 2. BTC Chart By TradingView The sub-wave count for the possible wave 4 is shown in black in the chart below. A parallel channel connecting the highs and lows gives a very similar target, strengthening the possibility that BTC will reach a low near $21,675. BTC Chart By TradingView Conclusion The Bitcoin (BTC) price is expected to reach a low near $21,675 and begin to move upwards after. For BeInCrypto’s previous Bitcoin (BTC) analysis, click here! Disclaimer: Cryptocurrency trading carries a high level of risk and may not be suitable for all investors. The views expressed in this article do not reflect those of BeInCrypto. The post Bitcoin Creates Double Top After Second Failed Attempt at $24,000 appeared first on BeInCrypto.
Boosting Stimulus: A Look at Recent Developments and Market Impact

SEC Extends Olive Branch to Broker-Dealers Handling Digital Assets

BeInCrypto (BeIn News Academy Ltd), we're writing about crypto. BeInCrypto (BeIn News Academy Ltd), we're writing about crypto. 23.12.2020 20:50
The U.S. Securities and Exchange Commission (SEC) released a statement on Wednesday requesting comment on the custody of digital assets by special purpose broker-dealers. The move appears to be a response to the official charges recently brought on Ripple executives. The SEC, according to the statement, seeks to “encourage innovation” regarding digital asset securities. The Commission will reportedly grant a grace period of five years to broker-dealers who have handled digital asset securities: “…a broker-dealer operating under the circumstances set forth in the statement will not be subject to a Commission enforcement action…” Several crypto exchanges have rushed to delist XRP in the US. And notable hedge fund, Bitwise, has already liquidated all of its XRP (3% of the fund) and moved into other crypto assets. SEC Commissioner Hester Peirce said the announcement was a baby step, but others called the move “1 step forward, 12 steps back.” New guidance on custody of digital asset securities. Baby steps: https://t.co/o8TcKMlDGp pic.twitter.com/7qzDXl49uv— Hester Peirce (@HesterPeirce) December 23, 2020Ripple to SEC: We Saw It Coming Ripple CEO Brad Garlinghouse staunchly criticized the uncertain regulatory landscape back in October. Garlinghouse even hinted that Ripple could relocate to a more favorable jurisdiction outside of the US. While the SEC did not specifically name any companies in the release, some onlookers speculate that the timing is not coincidental. Is the SEC trying to mitigate the effects of its lawsuit with Ripple? An additional quote from an official supplementary document reads: “The Commission envisions broker-dealers performing the full set of broker-dealer functions with respect to digital asset securities – including maintaining custody of these assets – in a manner that addresses the unique attributes of digital asset securities and minimizes risk to investors and other market participants.” XRP Tanks on the Day The wordy release continues to raise questions regarding the lack of regulatory clarity in the country. The Commission appears stuck between an innovation rock and a protective hard place: “…the Commission is requesting comment to provide the Commission and its staff with an opportunity to gain additional insight into the evolving standards and best practices with respect to custody of digital asset securities.” XRP continued to receive heavy offers heading into the late US afternoon (ET). And investors returned to the relative safety of US dollars. At the time of writing, the token was down some 40% to $0.27 per unit. XRP heavily sold against the US dollar following the SEC charges | Source: TradingView What is perhaps clear, however, is as the issuer of XRP, Ripple likely won’t escape the clutches of the heavy-handed US regulator. Those who custody its token, at least for the moment, may breathe a sigh of relief. The post SEC Extends Olive Branch to Broker-Dealers Handling Digital Assets appeared first on BeInCrypto.
Asia Morning Bites: Trade Data from Australia, Taiwan Inflation, and US Fed Minutes Highlighted

Former White House Director of Communications Launches Bitcoin Fund

BeInCrypto (BeIn News Academy Ltd), we're writing about crypto. BeInCrypto (BeIn News Academy Ltd), we're writing about crypto. 23.12.2020 18:01
Anthony Scaramucci, former White House Director of Communications and founder of the $9 billion fund SkyBridge Capital, has announced that he will be launching a Bitcoin-based fund. According to Scaramucci, the fund will target wealthy investors and give them the opportunity to gain Bitcoin exposure with a low fee product offering. A major differentiator between the SkyBridge fund and other funds such as Grayscale’s Bitcoin fund is the minimized fees. SkyBridge will charge customers a 0.75% fee to Grayscale’s 2% annual fee, a 60%+ discount. SkyBridge recently filed its Form D notice with the Securities and Exchange Commission (SEC) to form its new SkyBridge Bitcoin Fund L.P. The firm seeded the fund with a $25 million capital injection and will open it up for private investment at the beginning of January 2021. The minimum investment for the new fund will be $50,000. Boom!Skybridge Capital is doubling down on Bitcoin.They just registered the Skybridge Bitcoin Fund with the SEC, one month after allowing two of their other funds to invest in Bitcoin. pic.twitter.com/MmFMnbVot5— Kevin Rooke (@kerooke) December 21, 2020Scaramucci sees Bitcoin as a digital store and transfer of value and a parallel investment to physical gold. Scaramucci explains: “We think there’s a very large move for Bitcoin over the next five to ten years. We think it’s a product that people will have in their portfolios, and we wanted to get out there with something that could be available to RIAs, the mass affluent, and people who have an interest in owning some digital assets.” Increased Interest in Bitcoin Amongst the Wealthy Bitcoin has seen massive price growth this year. And some of the increased interest is likely due to wealthy and institutional investors. One example is MicroStrategy’s CEO Michael Saylor, who personally bought hundreds of millions worth of BTC. He also purchased over $1 billion in BTC for MicroStrategy’s reserve treasury. Another high profile name, Shaan Puri, the Director of the streaming platform Twitch, boldly claimed that he had moved 25% of his wealth into the alpha coin. Although onlookers don’t know how much that 25% stake bought, estimates suggest it wasn’t a small amount of money. It appears that many wealthy institutional investors view Bitcoin as a viable hedge against inflation. With Bitcoin’s pre-determined minting schedule and capped circulation of 21 million coins, some even believe the digital asset is a safer hedge against inflation than gold. Will other market participants follow this institutional lead and delegate a small portion of their portfolio to Bitcoin? The post Former White House Director of Communications Launches Bitcoin Fund appeared first on BeInCrypto.

How to convert USD to GBP? Maybe it's time to use our online currency converter?

With our currency converter you're able to check exchange rates of many currencies.

Examples of available currency pairs.

What is Forex?

Forex is an abbrevation for Foreign Exchange. This market is decentralized and works 24/5. Forex contains trading of two assets - a pair of currencies or a pair of currency and a commodity or a precious metal. All of transactions are based on CFD.

100 EUR To USD | What Is Forex?

CFD Meaning:

CFD is an abbreviation for Contract For Difference. In a simplified way it means that you're not an owner of certain asset and transactions are based on the exchange difference.

What are Forex pairs?

We can distinguish forex major pairs, minor pairs and exotic currency pairs.

Forex major pairs are: EUR/USD (EUR To USD), USD/JPY (USD To JPY), GBP/USD (GBP To USD).

Forex minor pairs are: EUR/GBP (EUR To GBP), NZD/USD (NZD To USD), EUR/CHF (EUR To CHF), CAD/JPY (CAD To JPY).

Sample pairs: GBP To INRJPY To USDGBP To AUDJPY To HKDGBP To TRYAUD To USD

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Investing money? You're surely familiar to terms like inflation. Watch CPIPPI and other indicators to make proper decisions. ECBFed or other national banks' decisions of e.g. tightening monetary policy can affect currencies, precious metals and other instruments. Having that in mind, we should watch interest rates.

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