Ready for the mid-market exchange rate of USD (US Dollar) / HKD (Hong Kong Dollar) for Thursday July 30, 2020?
The current rates for USD (US Dollar) / HKD (Hong Kong Dollar) are available in this article. As a top finance news site the Born2Invest team has analysed the latest forex market data to bring you live information that enables you to make the right forex trading call every day.
Thursday July 30, 2020 1 USD (US Dollar) is 7.75018 of HKD (Hong Kong Dollar) .
Remember to always trade using a reputable broker. It’s also possible to apply many forex concepts to cryptocurrency trading.
Forex trading is inherently risky and there are countless forex pairs to choose from. The only way to make a profit from forex trading is to understand how the market works. Luckily for you the Born2Invest forex team has collated some forex trading tips to get you started.
Forex trades are always made using currency pairs. Whenever you buy one currency you are selling another. In every pair there is a base currency, for example USD (US Dollar) and a quote currency, which would be HKD (Hong Kong Dollar).
The price of a currency pair represents the amount of quote currency, or HKD (Hong Kong Dollar), that you will need to spend in order to purchase a single unit of USD (US Dollar), the base currency. So using the current example you would need to spend 7.75018 of HKD (Hong Kong Dollar) in order to purchase 1 USD (US Dollar).
Forex pairs can be grouped into three main categories; the majors, the commodity currencies, and the cross currencies:
Cryptocurrency trading shares many similarities to forex trading. Specifically the concepts of currency pairs and high price volatility. That being said there are some key differences. Cryptocurrencies don’t operate like fiat currency and many are tied to a project or product. The crypto market is also highly unregulated, which makes it inherently risky compared to trading forex.
Additionally most cryptocurrency trades happen on exchanges. These are generally unregulated and come with a certain degree of risk that many investors would find unacceptable. One alternative is to trade using a CFD broker which allows crypto pairings, but this means you will not directly own and cryptocurrency you buy.
FiCAS and SIX Swiss Exchange Pioneer the World’s First Actively Managed Cryptocurrency Exchange Traded Product (ETP)
ZUG, Switzerland, July 29, 2020 /PRNewswire/ — FiCAS AG, a Swiss-based crypto investment management boutique, has successfully registered the Bitcoin Capital Active ETP (BTCA; ISIN CH0548689600) — the world’s first actively managed crypto exchange-traded product, listed on SIX Swiss Exchange. The discretionary ETP, issued by Bitcoin Capital AG, will be managed by FiCAS AG, which trades the top 15 cryptocurrencies and aims to deliver enhanced returns for clients. The Bitcoin Capital Active ETP is issued at CHF 100.
FiCAS has received full regulatory approvals in Switzerland for the listing of the Bitcoin Capital Active ETP, which provides the green light for retail and institutional investors to tap the burgeoning asset class in a simple and secure way.
Ali Mizani Oskui, founder of FiCAS, said, “Devising the world’s first actively managed Crypto ETP marks an important milestone in our effort to deliver enhanced market returns for our clients over time. Based on our in-depth trading and analytical experience, actively managing our underlyings allows us to preempt and react to market movements through the discretionary buying and selling of crypto assets to steer risk-adjusted returns. Personally, I have built my expertise in crypto trading since 2013, with a strong track record in outperforming the market. I look forward to bringing my trading experience to global and institutional markets with this pioneering product.”
Easy to trade through any bank or broker
Investors can purchase the Bitcoin Capital Active ETP similarly to buying shares on the secondary market, through any broker or financial adviser at a bank with access to the Swiss exchange.
Technical and analytical investment strategy
The main investment objective of FiCAS is to increase the net asset value of the Bitcoin Capital Active ETP through actively trading bitcoin against carefully selected altcoins and exiting to fiat whenever necessary based on crypto market performance. The investment strategy behind FICAS uses technical and fundamental analysis, proprietary algorithms and quant signals, and the trading experience of the team with the aim to generate exceptional returns.
Proven track-record of underlying trading strategy
The personal trading performance of Ali Mizani Oskui, founder of FiCAS, between 2015 and 2018 – also famous for his correct predictions of bitcoin price development – has been audited by a ‘Big Four’ consultancy firm. The audit detailed Mizani’s 110% outperformance against Bitcoin holding strategy returns from October 2015 to January 2018, when Bitcoin price reached its all-time high of nearly $20,000. As soon as the Bitcoin price reached its all time high, Mizani changed the allocation into a cash position and the performance of the fund reached returns of more than 90x in USD. This fund was subsequently shut down to open under a new legal and institutional-grade format in Switzerland’s Crypto Valley in late 2019. This investment strategy was then reaffirmed in a live test portfolio in the form of a private placement, managed by FiCAS, which outperformed bitcoin price between January 2020 and June 2020 by over 10%.
Dr. Mattia Rattaggi, Chairman of the FiCAS Board, said, “Amid the current market environment of historically low interest rates and global equity market volatility, we are seeing a real desire among investors to diversify into alternative asset classes. With this in mind, FiCAS’ pioneering ETP launch today, an industry-first achievement, is the ideal opportunity to pursue superior returns while expanding asset diversification. A discretionary managed ETP is a much more appropriate new instrument in the context of the still novice cryptocurrency market and further bridges the worlds of traditional and crypto finance.”
Key Data on the Bitcoin Capital Active ETP
SIX Swiss Exchange
CHF 100 per unit
Minimum trade size
For more information, visit www.ficas.com and www.bitcoincapital.com.
About the Bitcoin Capital Active ETP
The Bitcoin Capital Active ETP is the world’s first actively-managed exchange traded product (ETP) featuring cryptocurrencies as underlying assets, listed on the SIX Swiss Exchange (SIX). The discretionary ETP, issued by Bitcoin Capital AG and managed by FiCAS AG, trades the top 15 cryptocurrencies with the aim to deliver enhanced returns for clients via active trading and risk management. The ETP is available to both retail and institutional investors in Switzerland and in select jurisdictions across Europe to purchase through any broker or financial adviser at a bank with access to the Swiss exchanges.
For further information on the Bitcoin Capital Active ETP, visit bitcoincapital.com.
About FiCAS AG
FiCAS is a Swiss-based crypto investment management boutique. The firm devised the Bitcoin Capital Active ETP — the world’s first actively-managed exchange traded product (ETP) featuring cryptocurrencies as underlying assets. FiCAS’ discretionary investment strategy is based on fundamental and technical analysis, proprietary algorithms and quant signals, and experienced analysts. FiCAS’ founder, Ali Mizani Oskui, has a proven track record of outperforming crypto market trends. The portfolio he managed from October 2015 to January 2018 achieved 110% outperformance against Bitcoin holding strategy returns during the same period, audited by a ‘Big Four’ consultancy firm. Founded in 2019, FiCAS is led by experienced portfolio managers and quant strategists, with expertise in both cryptofinance and traditional finance.
For further information on FiCAS, visit ficas.com, or follow us on Twitter at @Ficas_ltd and LinkedIn at @FiCAS_LTD.
View original content:http://www.prnewswire.com/news-releases/ficas-and-six-swiss-exchange-pioneer-the-worlds-first-actively-managed-cryptocurrency-exchange-traded-product-etp-301101957.html
SOURCE FiCAS AG and Bitcoin captial
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Apex Crypto News – Bitcoin Tops $11,000 Reigniting Interest in India
A resurgent bitcoin is rekindling Indian interest in cryptocurrencies with reports suggesting many dormant holders are back to trading.
A report in Livemint is also attributing the piqued interest to a recent Indian supreme court decision to overturn a prohibition that barred banks from dealing with cryptocurrency exchanges. The ban was imposed by the Reserve Bank of India (RBI) in April 2018.
Nischal Shetty, founder and CEO of Wazirx, a cryptocurrency exchange in India, says they are witnessing a renewed excitement.
Shetty said bitcoin’s price, which breached the $11,000 mark on Tuesday, resulted in Wazirx “seeing a big jump in our trading volume.”
Another expert, Sumit Gupta, a co-founder and CEO at Coindcx, another cryptocurrency exchange, offers a different take for the current interest in bitcoin.
According to Gupta, “the surge in bitcoin prices comes amid a rush for safe-haven assets that are considered alternatives to cash and stocks.” The “decreased supply of available bitcoin” following the halving event in May is another factor behind the price rally.
Prior to the halving, the bitcoin block reward was 12.5 bitcoins but this was reduced further to 6.25 bitcoins. This means fewer bitcoins have been released onto the market to date when compared with the same period last year.
Another expert, Ajeet Khurana, a member, Blockchain and Cryptocurrency Committee of the Internet and Mobile Association of India (IAMAI), focuses on market participants in his explanation for the price surge.
The common investor in any asset class is primarily driven by asset price inflation. The trader in an asset class is driven by volatility, and expects to make money on price movements in both directions. For both of these, bitcoin has been a delight in the recent past.
Khurana also believes that crypto investors do not invest in other asset classes. Therefore, the rise in bitcoin prices could fuel a surge in crypto market participants, both investors and traders.
In other words, “the cult-like following of cryptocurrency gets strengthened when there is a rally in its prices.”
Meanwhile, India still does not have a regulatory framework for cryptocurrency some four months after the supreme court ruling. In addition, a draft government bill on cryptocurrencies seeks to criminalize the mere possession of cryptocurrency.
Subhash Chandra Garg, the former Finance and Economic Affairs Secretary of India, told an Indian crypto community earlier this month, that crypto assets should be regulated as commodities. Despite making these comments, Garg says he still stands by the current crypto bill.
Will clarity on crypto regulation further boost interest in bitcoin? Share your thoughts in the comments section below.
Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.
Diginex launches new Singapore cryptoexchange ahead of Nasdaq listing – Conservative Investing News
HONG KONG, July 30 (Reuters) – Nasdaq-hopeful Diginex launched a new cryptocurrency exchange focused on derivative products in Singapore on Thursday, where it has applied for a licence.
The new exchange, EQUOS.io, will be based Singapore rather than Hong Kong, from where Diginex operates much of its other business.
Diginex Chief Executive Richard Byworth said the Southeast Asian city-state’s regulatory environment made it a more suitable location for the exchange than Hong Kong.
Authorities globally are grappling with whether and how to regulate cryptocurrency companies, some of which say they wish to be regulated to show their legitimacy to cryptocurrency investors.
“Singapore were a bit more flexible in the way that they were thinking about things,” Byworth told Reuters.
Hong Kong’s opt-in licencing regime for cryptocurrency exchanges, launched last year, does not allow the trade of derivatives products, and its top markets regulator said cryptocurrency futures contracts may be illegal.
The new exchange will provide cryptocurrency spot trading as well as more complex products.
“On the more interesting edge of (cryptocurrency)derivatives, we have seen a more limited product set come to market because we are constrained by the infrastructure,” said Byworth, adding that he hoped the new exchange would plug these infrastructure gaps.
In contrast to Hong Kong, Singapore’s new payments rules require cryptocurrency companies operating in the city to be licenced, but it is less prescriptive about their operating model.
Over 150 cryptocurrency companies that were previously operating in Singapore, including Diginex, have had to apply for licences by 28 July.
Diginex is in the process of listing on the Nasdaq through a $300 million reverse merger with special acquisition vehicle 8i Enterprises.
The deal has already received SEC approval. Byworth said the effective listing date should be in mid- to late September.
Coinbase, operator of one of the world’s most established cryptocurrency exchanges, is considering a direct U.S. listing later this year or early next year, Reuters reported this month. (Reporting by Alun John; Editing by Sam Holmes)
Author: Posted By: Editor
Crypto Hardware Wallet Firm Ledger Hacked, One Million Customer Emails Exposed
Ledger said on Wednesday that its e-commerce database was hacked in late June, compromising about one million email addresses. No user funds were affected by the breach.
In a blog post, the French bitcoin hardware wallet company revealed that contact and order information for customers was also exposed.
Ledger added that, for a subset of 9,500 customers, details such as first and last name, postal address, and phone number were leaked. The hack, which targeted the firm’s marketing and e-commerce database, has since been patched, it said.
A researcher who participated in Ledger’s bug bounty program discovered the vulnerability and reported it on July 14. Ledger responded by fixing the problem, but not before realizing the vulnerability had already been exploited by an unauthorized third party on June 25.
Someone accessed the company’s marketing and e-commerce database – used to send order confirmations and promotional emails – using an API key that has since been deactivated. Payment information, passwords, and funds were not affected.
“This data breach has no link and no impact whatsoever with our hardware wallets nor Ledger Live security and your crypto assets, which are safe and have never been in peril,” Ledger detailed.
Ledger said it is “extremely regretful” for the breach. The company stated it filed a report with France’s Data Protection Authority, the CNIL, on July 17, and partnered with Orange Cyberdefense four days later “to assess the potential damages of the data breach and identify potential data breaches.”
Ledger is looking for evidence of the stolen data being sold on the internet, but nothing has been found so far. The firm warned users to be “always be mindful of phishing attempts by malicious scammers.”
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