Beosin and Moneybees, a leading Philippine OTC crypto exchange, are thrilled to announce a strategic partnership to enhance the security and compliance of blockchain transactions, providing customers with more reliable and convenient financial services. About Moneybees A BSP-licensed Virtual Asset Service Provider (VASP), Moneybees is the pioneer over-the-counter (OTC) crypto exchange in the Philippines that's dedicated to providing customers with easy and secure cryptocurrency trading services. Users can buy and sell cryptocurrencies either at Moneybees physical outlet partners, all of which are BSP-Supervised Financial Institutions, or transact online through Moneybees' trading desk. Their slogan, “Buy and sell your cryptos with ease!” perfectly captures their commitment to offering a seamless trading experience for their customers. About Beosin KYT Beosin is a professional blockchain security company that's committed to providing leading blockchain security solutions globally, including smart contract auditing, Anti-Money Laundering (AML), and Know Your Transaction (KYT) services. Details of the Partnership Security Technical Support: Beosin will provide comprehensive security technical support for Moneybees, including smart contract auditing and blockchain transaction monitoring, ensuring the security of transactions on the Moneybees platform. Compliance Enhancement: By utilizing Beosin KYT’s AML and KYT services, Moneybees will further enhance its compliance capabilities, ensuring all transactions adhere to international and local regulatory requirements, and protecting users' legal rights. User Experience Optimization: Both parties will work together to optimize the user experience by streamlining the transaction process, making it safer and more convenient. Customers of Moneybees will enjoy a smoother cryptocurrency trading experience with heightened security assurances. Future Outlook The strategic partnership between Beosin KYT and Moneybees not only strengthens their core competencies but also contributes significantly to the healthy development of the blockchain industry. The collaboration ushers in a new age of security and compliance that will help promote the widespread adoption of blockchain technology in the financial sector. The CEO of Beosin KYT states, “We are delighted to form a strategic partnership with Moneybees, which will help us further expand our influence in the Southeast Asian market. We believe that through our joint efforts, we can provide users with more secure and compliant cryptocurrency trading services.” The strategic partnership between Beosin KYT and Moneybees is a significant milestone in the blockchain industry, showcasing the deep integration of technology and the market. Moving forward, both parties will continue strengthening their cooperation, jointly driving blockchain technology innovation and application, and providing users with exceptional services.
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Understanding DEXs vs CEXs What are DEXs and CEXs? In the realm of crypto, two primary types of exchanges facilitate the trading of digital assets: Decentralized Exchanges (DEXs) and Centralized Exchanges (CEXs). CEXs: These are traditional, well-established platforms where cryptocurrency trading occurs in a controlled environment. Examples include Coinbase, Binance, and Kraken. They act as intermediaries and custodians, holding your funds and executing trades. DEXs: Emerging as part of the DeFi movement, DEXs like Uniswap, Sushi Swap, and Pancake Swap operate without a central authority. They enable direct peer-to-peer transactions on the blockchain. Key Differences Between DEXs and CEXs Custody of Funds: CEXs hold users' funds, offering a custodial service, while DEXs allow users to retain control over their private keys and funds. Regulation and Security: CEXs are generally regulated and offer robust security measures. DEXs, while secure due to blockchain technology, are less regulated. Anonymity: DEXs offer greater anonymity as they don’t usually require personal information for trading, whereas CEXs often require KYC (Know Your Customer) procedures. Ease of Use: CEXs often provide user-friendly interfaces suitable for beginners, while DEXs might be more complex and cater to users familiar with the crypto ecosystem. Liquidity: CEXs usually have higher liquidity, ensuring faster trades and price stability. DEXs, being relatively newer, often struggle with liquidity issues. Asset Variety: CEXs typically offer a wider range of cryptocurrencies, while DEXs might be limited to tokens on their specific blockchain. Perks and Flaws CEX Perks: > Higher liquidity and faster transaction speeds. > Regulated and generally perceived as more secure. > User-friendly interfaces and customer support. CEX Flaws: > Susceptible to government regulations and potential shutdowns. > Central point of failure makes them attractive targets for hackers. > Custodial nature can be a concern for those seeking full control over their assets. DEX Perks: > Enhanced privacy and anonymity. > No need for KYC, offering greater accessibility. > Users have full control over their funds. DEX Flaws: > Typically lower liquidity and slower trades. > More complex interfaces can deter beginners. > Vulnerable to smart contract exploits due to less regulation. TLDR (too long didn't read) CEXs offer a familiar, regulated, and user-friendly environment with high liquidity but at the cost of full control over one's funds and reduced privacy. In contrast, DEXs champion the ethos of decentralization, offering more privacy and control, but with trade-offs in liquidity, user experience, and potential smart contract vulnerabilities. So, whether you lean towards the traditional security of CEXs or the pioneering spirit of DEXs, the future of trading is evolving. What are your thoughts on this evolution, and which type of exchange do you see shaping the future of crypto trading?
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Here's a breakdown of imperative features: 1. Trading engine At the heart of a cryptocurrency exchange lies the trading engine. It manages bids, opens orders, generates trades, facilitates access to order books, performs balance calculations, matches offers and bids, executes crypto transactions, and more. 2. Administrative console The administrative console empowers exchange owners and operators to handle diverse operations on the crypto exchange platform. Customizable admin consoles should address issues related to support, editing trading fees, debit or credit funds, adding new currencies, and managing crypto listings. 3. User authorization and verification Simplifying the user onboarding experience is crucial. Verification, a key feature, minimizes fraud and ensures transaction transparency. Integration with anti-bot verification and two-factor authentication enhances user data security. 4. Accessibility Some platforms may be more easily accessible than others, and legal authorizations may vary by region. Users should ensure that selected exchanges can legally operate in their areas. 5. Crypto wallet A cryptocurrency wallet is indispensable, allowing users to send, receive, and store various cryptocurrencies. Platforms can offer hot wallets (online, faster but susceptible to attacks) or cold wallets (offline, more secure but less convenient). 6. Analytics tools Dedicated analytics tools enable data-backed decision-making for traders. Technical indicators like Moving Average (MA), Moving Average Convergence Divergence (MACD), Relative Strength Index (RSI), and Stochastic RSI empower traders to make informed decisions in real-time. 7. Currency availability With over 22,000 cryptocurrencies, availability varies. Users must ensure that the desired coins or tokens are supported by the exchange platform of their choice. 8. Push notifications Push notifications facilitate seamless communication between platforms and users. Exchanges can notify users about market trends, new listings, and special offers, enhancing user engagement. 9. Transaction history The transaction history feature is vital for traders to review past transactions, assessing profits and losses. 10. AI system recommendations Integrating an artificial intelligence system enhances data analysis, providing personalized recommendations based on a user's portfolio and risk profile. 11. Cold crypto wallet integration For added security, integrating cold crypto wallets can be achieved by incorporating them into the website or allowing users to import private keys directly. 12. P2P cryptocurrency trading Enabling direct user-to-user trading reduces transaction costs and accelerates execution times. 13. Know Your Transaction (KYT) A crucial feature, KYT, is a system that monitors suspicious transactions, preventing scams, fraud, and other illicit activities on the platform. 😎 For all questions related to the development, feel free to write to me in DM
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New Post: BuyUcoin Shields Indian Crypto Users Amidst FIU Crackdown on Offshore Exchanges - Quick Take Indian crypto exchange BuyUcoin reassures users by fully reimbursing withdrawal fees for transferring assets from offshore exchanges amid FIU crackdown. The move showcases BuyUcoin’s commitment to user safety and regulatory compliance in the evolving Indian crypto landscape. BuyUcoin will fully reimburse withdrawal fees on transfer from offshore exchanges Indian cryptocurrency exchange, BuyUcoin, has taken significant steps to reassure Indian users amidst the Financial Intelligence Unit India’s (FIU-IND) recent crackdown on offshore crypto exchanges. BuyUcoin announced that it will fully reimburse withdrawal fees for Indian users when they transfer their digital assets from offshore exchanges or wallets to their BuyUcoin accounts. The FIU-IND, a unit of the Finance Ministry, recently issued show-cause notices to nine offshore crypto exchanges, including Binance and Kraken, for failing to comply with the Prevention of Money Laundering Act (PMLA). This led to FIU-IND urging the Ministry of Information Technology to block URLs and remove apps associated with these non-compliant offshore exchanges. India has now reportedly suspended access to these offshore cryptocurrency exchanges. BuyUcoin, which is an FIU-compliant crypto exchange, has emerged as a safe and hassle-free option for Indian digital asset owners looking to bring their assets within the regulatory framework. The exchange’s move to reimburse withdrawal fees not only eases the financial burden on users but also emphasizes its commitment to safeguarding the interests of the Indian crypto community. Shivam Thakral, CEO of BuyUcoin, expressed his satisfaction with India’s efforts to regulate digital assets and emphasized BuyUcoin’s role in contributing to the country’s aspirations to become a global hub for Web3 innovation. Thakral stated, “At BuyUcoin, adherence to compliance measures is a topmost priority as it is essential for promoting the responsible use of digital assets.” He added, “A regulated environment will provide a level-playing field for all the players in the industry and create a strong security layer around India’s thriving digital asset ecosystem with a strong focus on user protection.” As part of its initiative, BuyUcoin will refund the withdrawal fees incurred by users during the transfer of assets from offshore platforms to BuyUcoin. To qualify for the reimbursement, users will need to provide proof of fees paid during the asset transfer. After verification, BuyUcoin will promptly reimburse the fees into the respective users’ BuyUcoin wallets. Additionally, BuyUcoin will offer a 1% bonus on the transfer of digital assets to its platform, incentivizing users to make the switch. Established in 2016, BuyUcoin is India’s leading digital asset exchange with a user base of over 1 million active users.
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Crypto Token offerings have gone through several changes in the last 10 years. These are the most popular types of token offerings: Initial Coin Offerings (ICOs) ICO was the first major public token launch technique. ICOs kickstarted in 2013 but gained popularity in 2017. Ethereum utilized an ICO approach and raised $18 million in 2014. The process involves a project offering its newly created tokens to investors in exchange of funds. This exchange was secure via a smart contract, which automatically distributed allocated tokens after funds were sent. The lack of regulatory oversight led to the growth of crypto scams. Blockchain businesses that raised funds through ICOs are being investigated by regulatory bodies such as the US SEC, which has classified some of these tokens as securities. This increased scrutiny has led to the slow decline of crypto companies going public through ICOs. Security Token Offering (STO) STO is a response to regulatory compliance. An STO involves the issuance of blockchain tokens in securities forms. STOs are often focused on ensuring compliance with securities laws. It often comes with complex legal processes and high costs. Initial Exchange Offering (IEO) IEOs are always executed on centralized exchanges. In this system, the crypto exchange acts as an intermediary by providing a safe and secure environment for its customers to purchase the newly created tokens. IEOs offer an immediate benefit for the project, as its tokens will become publicly available for trading once the sale is complete. IEOs are generally considered safer for investors due to the vetting process by exchanges. Crypto exchanges must ensure compliance with KYC, AML and security offering regulations in their respective jurisdictions. Initial DEX Offering (IDO) IDOs involve distributing a token on a decentralized exchange (DEX) like Uniswap. DEX protocols are usually permissionless, allowing anyone to participate in the fundraising. Most projects are not vetted by the DEX, which are unregulated and often lack investor due diligence. Airdrop distributed tokens Airdrops have been widely used during the recent meme coin mania. In this process, a meme coin project often announces an address where investors can send funds. After receiving the funds, the project distributes tokens directly to investors' wallets via an airdrop. This means the tokens are sent directly to the investors' addresses, rather than requiring them to claim them manually. Liquidity Bootstrapping Pools (LBPs) LBPs are a type of automated market maker (AMM) pool designed to facilitate the initial distribution and pricing of a new token in a way that mitigates volatility and manipulative trading practices. LBPs are governed by smart contracts that define the rules and mechanics of the pool. Over time, the smart contract adjusts the weight of tokens in the pool, allowing the price to gradually decrease or stabilize. This dynamic pricing helps in fair price discovery.
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The Impact of Regulatory Changes on Cryptocurrency Trading The digital finance landscape is undergoing a significant transformation with the advent of cryptocurrencies. These digital assets are redefining the norms of traditional finance, propelling us into an era marked by decentralized innovation. However, the journey of cryptocurrencies is fraught with challenges, prominently shaped by the evolving regulatory frameworks. This comprehensive analysis aims to unravel the complex repercussions of these regulatory adjustments, providing an in-depth understanding of the digital currency ecosystem’s ever-changing nature. Navigating Regulatory Waves Cryptocurrency trading is inherently dynamic, constantly influenced by technological advancements and shifts in regulatory postures. The market’s current state, characterized by rapid expansion and growing institutional interest, underscores the critical role of regulatory governance. Recognizing the intricacies of this landscape is essential for appreciating the significance of regulatory measures in the realm of digital currencies. Evolution of Crypto Regulations The journey of cryptocurrency regulations has been a transformative one, beginning with initial skepticism and evolving into a focus of global regulatory bodies. This segment delves into the historical trajectory of crypto regulations, highlighting key legislative developments. It paints a vivid picture of a regulatory landscape striving to strike a delicate balance between fostering innovation and ensuring investor protection. Impact of Regulations on Market Regulatory alterations inevitably mold the dynamics of the cryptocurrency market. This section probes into how these changes influence aspects like market volatility, liquidity, investor behavior, and demographic shifts. As regulatory contours become more pronounced, understanding their repercussions on market behavior becomes imperative for stakeholders. Regulatory Changes and Tech Innovations The nexus between regulatory shifts and technological advancements in the cryptocurrency domain is intricate and mutually reinforcing. This part scrutinizes how blockchain technologies have evolved in tandem with regulatory changes, emphasizing the role of technology in ensuring compliance and enforcement. It underscores the adaptability and resilience of the cryptocurrency ecosystem in the face of regulatory challenges. Achieving Compliance in Trading In the intricate world of cryptocurrency trading, the choice of trading platform is as pivotal as the trading strategy itself. For traders and institutions, adherence to regulatory standards is non-negotiable. Platforms that epitomize efficiency, regulatory compliance, and security are paramount. An example resource in this context is the comprehensive Quotex review on Outlookindia, which offers an in-depth analysis of the platform’s legitimacy and dedication to user safety. Engaging with such detailed reviews is fundamental for traders and institutio…
The Impact of Regulatory Changes on Cryptocurrency Trading The digital finance landscape is undergoing a significant transformation with the advent of cryptocurrencies. These digital assets are redefining the norms of traditional finance, propelling us into an era marked by decentralized innovation. However, the journey of cryptocurrencies is fraught with challenges, prominently shaped by the evol
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What is a P2P System? A Peer-to-Peer (P2P) system is a decentralized network where participants (peers) interact directly with each other without the need for a central authority or intermediary. In cryptocurrency trading, P2P systems enable users to trade digital assets directly with one another. Key Features of P2P Systems Decentralization: No Central Authority: Transactions occur directly between users, eliminating the need for intermediaries. Security: Enhanced Privacy: Users deal directly with each other, reducing the need to share personal information with third parties. Reduced Risk of Hacks: The absence of a central server reduces the risk of large-scale hacks. Lower Costs: No Intermediary Fees: Transaction fees are typically lower since there are no intermediaries. Global Accessibility: Borderless Trading: Users can trade with anyone around the world, providing access to a global marketplace. Resilience: Distributed Network: The network's distributed nature makes it more resilient to failures or attacks. FYCBit's P2P Trading Platform At FYCBit, we recognize the transformative potential of P2P systems in cryptocurrency trading. Our P2P trading platform leverages these advantages to offer users a secure, efficient, and user-friendly trading experience. Key Features of FYCBit's P2P Platform User-Friendly Interface: Our platform is designed to be intuitive and easy to use, ensuring accessibility for both beginners and experienced traders. Robust Security Measures: Escrow Services: Protects both buyers and sellers by holding funds securely until the transaction is completed. Reputation System: Allows users to rate and review their trading partners, fostering trust and transparency. Wide Range of Payment Options: Supports various payment methods, including bank transfers, digital wallets, and other popular options. Global Trading Opportunities: Connects users from around the world, enabling borderless cryptocurrency trading. 24/7 Customer Support: Our dedicated support team is available around the clock to assist users with any issues or questions. How to Trade on FYCBit's P2P Platform Register and Verify: Create an account and complete the verification process for secure trading. Browse Listings: Explore available buy and sell listings, using filters to find the best offers. Initiate a Trade: Select an offer and initiate a trade. Communicate directly with the counterparty to finalize details. Complete the Transaction: The buyer transfers the payment, and the seller releases the cryptocurrency held in escrow. Rate and Review: After the transaction, rate and review your trading partner to help build a trustworthy community. Why Choose FYCBit for P2P Trading? Trust and Security: With escrow services and a reputation system, FYCBit ensures secure and trustworthy trades. Ease of Use: Our user-friendly platform makes P2P trading accessible to everyone. Global Reach: Trade with users worldwide, expanding trading opportunities.
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🌐 Understanding Crypto Wallets and Crypto Exchange Transactions 🌐 In the dynamic world of cryptocurrency, two key components play a crucial role: crypto wallets and crypto exchanges. Whether you're a seasoned investor or a curious beginner, understanding these elements is vital for navigating the crypto landscape. 🔐 Crypto Wallets: Your Digital Safe A crypto wallet is a digital tool that allows you to store, manage, and interact with your cryptocurrencies. Think of it as your personal safe, but for digital assets. There are two main types of wallets: Hot Wallets: Connected to the internet, these wallets are convenient for everyday transactions. Examples include mobile wallets, web wallets, and desktop wallets. Cold Wallets: These are offline wallets, providing enhanced security for storing large amounts of cryptocurrency. Hardware wallets and paper wallets fall into this category. 🔄 Crypto Exchanges: Your Trading Hub Crypto exchanges are platforms where you can buy, sell, and trade cryptocurrencies. They act as intermediaries between buyers and sellers, facilitating transactions. Exchanges can be categorized as: Centralized Exchanges (CEX): Managed by a central authority, these platforms offer user-friendly interfaces and high liquidity. However, they require users to trust the platform with their assets. Decentralized Exchanges (DEX): Operate without a central authority, offering greater privacy and control over your funds. They connect buyers and sellers directly through smart contracts. 🚀 How It Works Creating a Wallet: Start by choosing a wallet that suits your needs. For frequent transactions, a hot wallet is ideal. For long-term storage, consider a cold wallet. Using an Exchange: Sign up on a trusted exchange platform. Verify your identity, if required, and deposit funds into your account. Buying/Selling Crypto: Use the exchange's trading interface to place buy or sell orders. Your funds will be transferred to your exchange wallet. Transferring Funds: To enhance security, transfer your purchased cryptocurrencies from the exchange to your personal wallet. 🔍 Key Considerations Security: Always prioritize security by enabling two-factor authentication (2FA) and using strong passwords. For large holdings, consider cold storage solutions. Fees: Be aware of the transaction fees associated with exchanges and wallets. These can vary significantly depending on the platform and the type of transaction. Regulations: Stay informed about the regulatory environment in your region. Compliance with local laws ensures the legality and security of your transactions. 🌟 Conclusion Crypto wallets and exchanges are fundamental tools for anyone involved in the crypto ecosystem. By understanding how they work and following best practices, you can securely manage and trade your digital assets. #Cryptocurrency #CryptoWallets #CryptoExchanges #Blockchain #Fintech #DigitalAssets #CryptoSecurity #InvestSmart #CryptoTrading
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The Future of Staking on the XinFin Network The future of XDC staking presents a blend of innovative solutions and technical considerations. Restaking, Eigenlayer staking, and thoughtful protocol restructuring offer the potential to enhance liquidity, security, and participation within the XinFin ecosystem. However, it is crucial to carefully evaluate the technical merits and complexities of each approach to ensure their successful implementation and long-term sustainability. As the XinFin Network navigates this exciting path forward, it must strike a balance between pushing the boundaries of innovation and maintaining the stability and security of its staking ecosystem. By addressing the technical challenges head-on and fostering collaboration within its community, the XinFin Network can unlock the full potential of these staking enhancements and solidify its position as a leader in the blockchain industry. US Government Transfers $2.1B in Seized Bitcoin to Coinbase The US government has transferred 30,174 Bitcoin worth $2.1 billion seized from Silk Road to Coinbase. A wallet tagged as belonging to the U.S. government was observed making the transfer Tuesday morning. The US government has yet to confirm this Bitcoin transaction. The last confirmed sale by the government was in March 2023, selling 9,861 coins for $216 million. Furthermore, if confirmed, this sale would be significantly larger than the last. For context, the US government seized roughly 50,000 bitcoins related to the Silk Road website in late 2022. Those within the digital asset market know the Silk Road as one of the industry’s biggest crimes. A digital black market, the Silk Road marketplace was used for money laundering and illegal drug trades using the leader cryptocurrency. Will Ethereum Continue Its Q2 Hotstreak In 2024? Ethereum (ETH) has experienced a tumultuous journey throughout the second quarter of 2024, characterized by remarkable surges and retracements. Presently valued at $3,376.56, it has rebounded significantly from its recent low of $3,056. However, amidst various market influences, including regulatory uncertainties, the pivotal question arises: Can ETH sustain its Q2 momentum? In conclusion, ETH’s Q2 momentum in 2024 promises continued growth, buoyed by historical trends and positive analyst outlooks. Nonetheless, regulatory uncertainties, notably surrounding the approval of an Ethereum ETF, pose potential obstacles to its upward trajectory.
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