Wallet Pay tool can be integrated into any bot or service in Telegram to pay in Bitcoin or USDT

Messenger Telegram has introduced a new Wallet Pay cryptocurrency payment service in Bitcoins. As well as the cryptocurrency Toncoin (TON) and the Tether USD (USDT) stablecoin.

Wallet Pay is a tool that can be integrated into any bot or service in Telegram. And giving users the ability to pay in the three cryptocurrencies through the messenger interface.

The list of jurisdictions supported by Wallet Pay includes most countries in the world.

But with the exception of the United States and those states that are blacklisted by the Money Laundering Task Force (FATF). In particular, the technology does not work in Iran, Myanmar and North Korea.

The restrictions do not apply to Russia, Indonesia, Vietnam, Egypt. And other states where paying for goods and services with cryptocurrency is officially prohibited.

A Wallet Pay spokesperson said that the support team has received “several hundred” applications to join the service, but the developers have not yet implemented the Know your customer (KYC) service. And they are not yet ready to say who exactly will be the first users.

The Telegram Open Network (TON) blockchain was launched by brothers Nikolai and Pavel Durov in 2018. However, in 2020, the Durovs abandoned the project due to litigation with the US Securities and Exchange Commission (SEC). The TON network was supported by members of the TON Foundation community and they continued its development.

Our experts note that although Telegram is not directly involved in the development of the TON ecosystem, it remains interested in this network.

Our experts suggest a strategy for investing in the collapse of the crypto market and the actions of U.S. regulators

The Securities and Exchange Commission (SEC) has targeted two major trading exchanges at once. The lawsuit against Coinbase is informative primarily because it mentions a number of popular cryptocurrencies. And which the SEC calls securities. This is clearly a blow to the cryptocurrency market, which logically expects further developments not in the most positive direction.

At the same time, it should be noted that Bitcoin (BTC) reacted rather reservedly to reports of lawsuits against major cryptocurrency exchanges. This is largely due to the fact that holders of those altcoins, which were declared securities in the lawsuit against Coinbase. Then they rushed to withdraw some assets, but not completely leave the crypto market. But to redirect capital to Bitcoin as a more reliable digital asset. And this is a very smart investment idea in the current environment. The current rate of Bitcoin looks attractive enough to enter.

This is not a short-term investment, and it is unlikely that Bitcoin will go sharply up or down in the coming weeks. This is due not only to the regulatory uncertainty that has intensified since the SEC lawsuits. But also with the upcoming U.S. Federal Reserve meeting in the middle of the month, where most investors expect the key rate to remain unchanged.

So, entering Bitcoin now looks like a sensible and effective move for those who would like to increase their presence in the crypto market. But it is logical to be suspicious of possible problems with altcoins.

In addition to Bitcoin, it is worth taking a closer look at the tokens of decentralized crypto-exchanges. Which, clearly, against the backdrop of tighter regulation in the U.S. will experience an influx of new users and strengthen their presence in the global market. However, there is a risk that these tokens will also be classified as securities. So, the risks for altcoins are still quite high and we can expect high volatility.

Disclaimer:

Crypto-Upvotes does not provide investment advice. This material is for information purposes only. Cryptocurrency is a volatile asset that can lead to financial losses.

Stablecoin USDT from Tether maintains leadership and grows in volume despite criticism and regulatory attention. Crypto Upvotes expert review

Tether is preparing to release its Q1 earnings report. USDT’s market capitalization reached $85 billion and recovered to its all-time high before the collapse of the Terra ecosystem in May 2022.

Since the beginning of the year, the company has issued $15 billion in new USDT. And stablecoin’s market share has grown another 15%. This growth was partly due to the fact that its closest competitors, Circle’s USD Coin (USDC) and Paxos’ BUSD, were struggling. The former suffered after the collapse of Sillicon Valley Bank. The second was banned by U.S. regulators. The outflow of funds from both stablecoins was in the billions of dollars. And investors probably switched from them to USDT. Which proved to be a more “stable” asset in the period of turbulence in the markets.

According to Blockworks Research, Tether has a 63% market share. Which is the highest in the last two years.

Last week, the company issued another 1 billion USDT, though they have yet to go into circulation. According to Tether’s CTO Paolo Ardoino, this batch of USDT will be used for further USDT issuance requests and inter-network conversions. Tether has a long history of issuing USDT before funds are actually received into accounts. Stablecoin is issued in large volumes at once. And the inclusion of coins in circulation is done as requests are received from users or exchanges.

USDT is issued on 13 blockchains, including Solana, Algorand, BNB Chain or Polygon in addition to Ethereum. There are 35 billion tokens issued on Ethereum. But the largest amount of Stablecoin is on the Tron network – 45 billion USDT. It is USDT in TRC20 standard token format that has become the most popular “stablecoin” due to lower commissions and transaction processing speeds compared to other networks.

Geographical advantage of USDT

Tether is registered in the British Virgin Islands, while the issuers of the other “stablecoins” from the first three are registered in the United States. The approach to regulating stablecoins is particularly acute on the agenda of U.S. lawmakers.

Last week, USDT was discussed at a House Financial Services Committee hearing in Congress. Where the main topic was the lack of federal regulations for stablecoin issuers in the US. Representatives from the local crypto business also took part in the hearing. And including, chief issuer strategist behind USDC Circle Dante Diparte. As well as Austin Campbell, former chief risk officer at Paxos, which previously issued BUSD.

Explaining the dominant position of USDT, the invited experts referred to the “advantage of the first project as a stablecoin” Tether. But they also cited the fact that the issuer is registered outside the U.S. among the main advantages.

Speaking to Bloomberg reporters, Henry Elder, head of the American fund Wave Digital Assets, told DeFi. About the fact that among large investors there is a mass shift from USDC to other, less U.S.-oriented stablecoins. And this will continue as long as the United States remains “irrationally hostile” to cryptocurrencies in general and to Stablecoins in particular.

New players in the market of stablecoins are expected

Kai Sheffield, head of cryptocurrency at Visa, said that the company “has an ambitious roadmap for cryptocurrency products”. In doing so, he published a link to a job page for developers. According to him, the introduction of payments in Stablecoin is what the finance company intends to focus on.

Despite the obvious dominance of USDT, the landscape of the “stablecoin” market is changing. The Binance exchange has refocused on the little-known TrueUSD (TUSD) token after it banned BUSD issuance until this year. The leading platform canceled all zero trading fees. But made an exception for Stablecoin TUSD. The token now represents the largest asset by trading volume on centralized exchanges, paired with Bitcoin.

Analysts suggest that TUSD, which has a 9% share of total trading volume on centralized crypto exchanges. In the coming months, it could take the second place in this indicator after Tether.

African country’s authorities hope to stabilize the Zimbabwean dollar by issuing a new digital currency

The Reserve Bank of Zimbabwe (RZB) intends to introduce a digital currency. It will be backed by gold, according to local portal The Sunday Mail. It will be used as legal tender within the country. The authorities hope to stabilize the national currency – the Zimbabwean dollar (ZWL).

The tokens will be a form of electronic money. Which will be backed by the country’s gold, which is stored at the Central Bank. Holders of Zimbabwean dollars will be able to exchange them for tokens backed by gold. The regulator calculates that this will help people save in a highly volatile environment.

The value of Zimbabwe’s national currency is depreciating rapidly and has started to do so quite some time ago. The authorities have held several denominations. And since 2009, Zimbabwe, after a period of record hyperinflation in world history, withdrew its own currency from circulation. Instead of the Zimbabwean dollar began to use U.S. dollars. As well as GBP and the currencies of neighboring countries.

Since 2016, the country issued a quasi-currency – surrogate dollars, officially pegged to the U.S. dollar at a ratio of 1:1. And designed to compensate in the market a shortage of U.S. dollars and other currency circulating in the country. In 2019, the Central Bank of Zimbabwe announced that surrogate currencies would no longer be exchangeable at a 1:1 ratio to the U.S. dollar.

Other African countries

Our experts point out that Zimbabwe is not the first African country to struggle with inflation. And other money circulation problems through the introduction of digital currencies. A year and a half ago, Nigeria introduced the eNaira digital coin. In doing so, it tried to attract about 40 million people to use it. And to get a share of the multi-billion dollar remittance flows and increase the tax base.

One year after eNaira’s launch, only 0.5% of Nigerians have used it. To boost adoption of the coin, the country’s authorities tightened cash withdrawal limits at banks and ATMs at the end of 2022.

The capital of crypto billionaires for 12 months decreased by $ 110 billion. Review of Crypto Upvotes experts

The richest people in the cryptocurrency industry lost more than 75% of their capital in 2022. Forbes estimates that the combined fortune of crypto-billionaires has decreased by about $110 billion in 12 months.

Last year, the magazine counted 19 billionaires among cryptocurrency owners. At the same time, the total assets were estimated at about $140 billion. Lawsuits, bankruptcies and falling asset values during the “crypto winter” caused serious damage to the industry. Therefore, by March 10, 2023, the total capital of crypto billionaires decreased to $30 billion. And the title of a billionaire itself was retained by only nine people.

Rating of crypto billionaires

• The head of the largest cryptocurrency exchange Binance, Changpeng Zhao, still occupies the first place in the ranking. His fortune last year was estimated at $65 billion. But now it is only $10.5 billion.
• In second place is the co-founder of blockchain projects Stellar and Ripple. As well as the creator of one of the first crypto-exchanges MtGox Jed McCaleb with a capital of $2.4 billion ($2.5 billion a year earlier).
• The third place ($2.2 billion) is shared by Coinbase CEO Brian Armstrong and Ripple chairman Chris Larsen. The former’s fortune last year was estimated at $6.6 billion, the latter at $4.3 billion.
• Next up are the founders of Web3 infrastructure developer Alchemy, Nikhil Viswanathan and Joseph Lau. And they each have a fortune of $1.8 billion ($2.4 billion a year earlier).
• The seventh and eighth places are held by the founders of the Gemini exchange, brothers Cameron and Tyler Winklevoss. Each of them owns $1.2 billion. A year earlier, the state of each of them was $4 billion.
• The list of billionaires closes the cryptoinvestor Matthew Roszak with a capital of $1.1 billion. In March 2022, his fortune was estimated at $1.4 billion.

List of who is no longer a crypto billionaire

Out of the list of billionaires are Upbit exchange founder Son Chee Hyun, Paradigm and Coinbase co-founder Fred Ehrsam. As well as MicroStrategy founder Michael Saylor (now valued at $760 million), venture capital investor Tim Draper. Also out are Devin Finzer and Alex Atalla, who founded the NFT marketplace OpenSea. And Barry Silbert, head of Digital Currency Group (his fortune dropped from $3.2 billion to $320 million).

Our experts note that Sam Bankman-Fried and Gary Wang of FTX were the hardest hit. Bankman-Fried last year ranked second with a capital of $ 24 billion. And now his fortune Forbes estimates less than $ 10 million. Experts estimate the state Wang the same amount, a year earlier it was $ 5.9 billion.

Launching your own crypto project and your own token can be a complicated process. But our experts will tell you what steps you need to take to get the results you want.

Determine the purpose of your token: Before creating a token, you need to determine its purpose. Will it be used as a utility token or security token? Will it be used as a means of payment or as a store of value?

Choose a blockchain platform: You will need to choose a blockchain platform to host your token. The most popular platforms are Ethereum, Binance Smart Chain, and Solana.

Create a whitepaper: Your whitepaper should outline the purpose of your token, its technical specifications, and the use cases for it. It should also include information on the token distribution and any fundraising events.

Choose a token standard: You will need to choose a token standard such as ERC-20, BEP-20, or SPL. These standards dictate the rules for the token’s behavior and functionality.

Develop a Smart Contract and Deploy: Once you have decided on the token standard, you will need to develop a smart contract that defines the token’s behavior on the blockchain. The smart contract code contains the rules and logic of the token, including the token supply, distribution, and transaction rules.

Deploying a smart contract can be a complex process, and it is important to have a good understanding of the underlying technology and best practices. It is recommended to seek guidance from experts in the field and to thoroughly test your contract before deploying it to the mainnet. Our crypto marketing agency “Crypto Upvotes” can help you with smart contract development. This code will include the logic and rules for your token or application.

Marketing to attract investors: 

• Develop a Clear Value Proposition: Clearly articulate the value of your token and what problem it solves. This should be the foundation of your marketing message. 
• Build a Strong Community: Engage with potential investors and supporters on social media and community platforms. Provide regular updates on the progress of your project and encourage participation.
• Create Engaging Content: Produce high-quality content, such as blog posts, videos, and infographics, that educates and informs your target audience about your project and the benefits of your token.
• Participate in Crypto Events: Attend and participate in conferences and events in the crypto space to showcase your project and network with potential investors and partners.
• Leverage Paid Advertising: Consider using paid advertising companies such as Banner Ads on crypto platforms and MEDIA worldwide, Influencers Ads, or social media advertising such as Twitter promotion, Instagram promotion, Discord DMs to investors, WhatsApp DMs to investors, Telegram DMs to investors to reach a wider audience and increase awareness of your token.
• Engage with Crypto Media: Order press releases or sponsored articles in cryptocurrency-focused media to talk about your project and token. This can help create ads and increase visibility for your project.

Marketing and promotion for crypto project

Promoting and marketing crypto tokens requires a deep understanding of the target audience and crypto ecosystem. It is important to focus on building a strong community and providing regular updates on the progress of your project. Additionally, it is recommended to seek guidance from experts in the field to ensure that your marketing efforts are aligned with best practices. Our crypto marketing agency “Crypto Upvotes” can help you with this. We have many services to attract investors to your project. We can also draw up an individual marketing plan specifically for your project.

Launch the token: Once you have completed the previous steps, you can launch your token on the blockchain. Select the launchpad on which you will launch your token. You will need to distribute the tokens to investors, create a market for them, and comply with any regulatory requirements. 

Launching your own crypto-token requires technical knowledge and a lot of experience. It is recommended that you consult with experts in the field to ensure that you are following best practices and complying with all legal requirements. Our crypto marketing agency “Crypto Upvotes” will help with any problem. From developing a smart contract to listing a token on crypto exchanges. Contact our experts for the best advice and services.

Launch of a new cryptocurrency, attached to Australian dollar exchange rate on Ethereum blockchain, scheduled for mid-2023. Crypto-Upvotes expert review

National Australia Bank (NAB), one of four major Australian banks, has created an AUDN stablecoin on the Ethereum blockchain. It will be attached to the rate of Australian dollar (AUD), according to Australian Financial Review. Banks plan to launch this coin in mid-2023.

The goal of creating AUDN is to allow bank customers to make real-time blockchain-based settlements in Australian dollars, the NAB said. AUDN can also be used for a number of other purposes, including carbon credit trading and repo transactions.

NAB also intends to use AUDN for low-cost international transfers. According to the bank, the technology will avoid using the SWIFT system. And reduce dependence on complex and costly relationships with correspondent banks when sending money abroad.

For at least three months AUDN will not be available to customers. Because while the bank under the supervision of regulators is conducting internal testing. Including transfers between subsidiaries and branches.

AUDN is not the first stablecoin to be pegged to the Australian dollar. 9 months earlier, Australia-New Zealand banking group ANZ Bank issued the A$DC (“A dollar DC”) coin. Also Novatti payment system created the AUDD stablecoin on Stellar blockchain. And Ettle has launched AUDE token on Ethereum and Algorand.

There are also stablecoins linked to Australian dollar exchange rates such as AUDT, XAUD, AUDRamp and TrueAUD. Volumes of these cryptocurrencies are minimal.

Last month, Reserve Bank of Australia Governor Philip Lowe said that regulating stable coins should be a priority and should be treated the same as bank deposits. Our experts note that Australia is also actively developing legislation and introducing technology for other digital assets. For example, in the middle of last year, Australian Gold Coast Mayor Tom Tate proposed accepting cryptocurrency in payment of municipal taxes.

NFT collection from Warner Bros. Discover was sold on the first day of trading for more than half a million dollars. Crypto-Upvotes expert review

The NFT collection, collectively titled Game of Thrones: Build Your Realm, was based on the Game of Thrones series. It was sold out on the Nifty Marketplace within the first seven hours of the start of trading. The tokens, presented by media giant Warner Bros. Discover, went on sale the evening of Jan. 10 for $150 each.

Each NFT is a “box” with an avatar of a character from the series. And which can be used in virtual world created based on the work. Also, the NFT includes additional attributes for “boosting” heroes. After purchase, the “box” can be opened or left unopened to save, trade or sell it intact.

During presale, 3.45k NFTs became available with a limit of one token per Nifty account. Then another 1,500 NFTs went on public sale a few hours later, with a limit of two additional items per account. Fifty NFT were retained by project authors for further events, free giveaways, and other promotional purposes.

The total amount of sales of NFT from this collection from the beginning of trading was $564 thousand according to the analytical platform CryptoSlam. Only two tokens were resold more expensive than the original price: for $200 and for $176. The current minimum token price (floor price) is 0.061 ETH.

Visa is using a proposal from Ethereum developers. It will allow automatic pre-scheduled payments from non-custodial crypto wallets

Visa has developed a blockchain-based autopay solution. A document published by this company details a new concept based on Account Abstraction (AA) technology from Ethereum developers. It will allow the implementation of automatic pre-planned payments using smart contracts in non-custodial users’ wallets.

Account Abstraction technology was proposed back in 2016. Since the core Ethereum network does not yet support AA. Therefore, VISA implemented its solution in StarkNet, a second-tier blockchain built on top of Ethereum blockchain. The account model in StarkNet just uses AA technology.

Whereas normal accounts check if a transaction is correctly signed for a specific address. With StarkNet, they simply verify that the transaction is coming from a given address. In addition, the introduction of Visa’s concept into this blockchain has not only enabled the deployment of a new auto-payment feature. But also increased transaction throughput.

Visa notes that it sees autopay as a key functionality that the existing blockchain infrastructure lacks. And it invites interested companies working in this area to work together on projects in the field of programmable payments.

Our experts note that payment companies from traditional financial industry this year began to actively develop projects related to blockchain and cryptocurrency. Also at the end of September, SWIFT and Chainlink oracle network announced joint work on a blockchain project. This project will allow traditional financial companies to conduct transactions on a platform that supports almost all blockchains.

Bybit announced about obligatory KYC procedure for customers to buy cryptocurrencies for fiat money and transactions with NFT. Crypto-Upvotes expert review

Crypto-exchange Bybit will limit the number of services that can be available to users who have not passed the verification procedure. Platform announced changes in KYC policy, as well as the introduction of new withdrawal limits.

KYC is currently required to access Bybit Launchpad and Earn products. Also for credit card payments, trading on P2P service of the exchange and transactions in certain currencies.

Starting December 15, verification will be required on the platform to purchase cryptocurrencies for fiat money and through One-Click Buy and P2P services. The KYC procedure will become mandatory for all NFT purchases and for NFT resales over $10,000. Mandatory user verification for input, withdrawal and purchase of NFT on primary market will be required from December 30.

Bybit may further expand KYC requirements in near future, the exchange said in a statement.

In addition to the new verification rules, from December 15 the platform will change the withdrawal limits. For example, without KYC-checking the daily limit for withdrawal of assets will be 20 thousand USDT, the monthly limit – 100 thousand USDT. Until December 15, only daily limit of 2 BTC is set.