For Coinbase users who don’t want to keep their funds on an exchange, the buying and storing crypto just became a lot easier.
On Monday afternoon, the company announced that Coinbase Wallet users would now have a fiat on-ramp within the wallet itself.
Previously, users holding their crypto in the non-custodial wallet would have to buy crypto on the Coinbase app (or elsewhere) and then send funds to Coinbase Wallet. This meant users trying to use, say, a DeFi dapp would have to install two separate apps to get started, the company said in an emailed statement.
Now users can buy within Coinbase Wallet without touching the Coinbase.com exchange.
For decentralized app creators, the development means they “can build dapps with just one easy app install for their users,” Coinbase wrote in a blog post.
Author: By TeamMMG
Bitpanda Reveals New Crypto Index for New Investors
Bitpanda, the self-described “leading investment platform” has revealed the launch of its Bitpanda Crypto Index (BCI), an “easy, automated way for anyone interested in cryptocurrencies to invest in slices of the crypto market,” according to a press release.
Bitpanda is working to “design a product for people interested in a hands-off approach to crypto investing.” It will offer users a variety of Indices: the BCI5, the BCI10, and the BCI25. These indices auto-invest in the top 5, 10, and 25 cryptocurrencies, rated on their liquidity and market size, the release notes.
The idea is to provide a diversified portfolio for those new to the space, simplifying the process for those who may not be versed in cryptocurrency.
Speaking on the matter is Eric Demuth, the co-founder and CEO of Bitpanda, who said:
“With the Bitpanda Crypto Index, our first regulated product, we‘re proud to be launching a game-changer that brings the world one step closer to the mass adoption of cryptocurrencies. The key to doing this is removing complexity from crypto investing and that’s just what we’ve done. Apart from making crypto investments super easy, our Indices will help you build a diversified portfolio of assets by tracking the market as a whole. Think of it as a more grown-up, guess-free version of crypto investing. When the market changes – so does the Index – swapping out assets each month to maintain investments. It’s a hands-off, stress-free approach to crypto investing.”
The New York Press News Agency
eBay Will Verify Collectible Sneakers Priced Over $100 To Cut Down On Counterfeits
eBay announced Monday it will verify all collectible sneaker listings more than $100—a bid to combat rampant counterfeiting that is increasingly common on third-party marketplaces.
Before a sneaker order ships, the seller will now be required to send it to an “independent third-party authentication facility for a comprehensive, multi-point physical inspection,” eBay said.
eBay is partnering with Sneaker Con, a company that hosts large conventions for sneakerheads, to run the facility.
After verification, eBay will use expedited shipping to send the sneakers to the buyer.
The service will launch this month and will eventually include all sneaker sales over $100 by early 2021.
Amazon doesn’t verify sneakers from third-party sellers, and the site’s problems with counterfeit items were part of the reason Birkenstock and Nike stopped selling on Amazon entirely in 2016 and 2019 respectively.
The move puts eBay in a better position to compete with other popular sneaker resellers, such as StockX and GOAT, that already have an authentication process.
“eBay operates the world’s most diverse sneaker marketplace—with the widest selection and best prices—and by removing any uncertainty with the buying process, our community can buy and sell with total confidence,” Jordan Sweetnam, SVP and General Manager of eBay North America, said in a statement.
The sneaker industry is becoming increasingly concerned with counterfeit goods on third-party marketplaces like eBay and Amazon, especially as the $2 billion secondary sneaker market continues to explode. In 2019, Customs and Border Patrol seized $2.2 million worth of fake Nikes in one bust. According to a January report from the Department of Homeland Security, footwear in particular is a common category for scammers and made up 14% of all seizures in 2018, according to the report, only behind apparel.
eBay sold nearly six million sneakers in North America in 2019, the company said.
Sneakers aren’t the first product eBay is authenticating. In September, the company said it would verify U.S. sales of watches over $2,000.
Author: Rachel Sandler