Author: Susana

YOUR SAFETY IS THE MOST IMPORTANT THING

YOUR SAFETY IS THE MOST IMPORTANT THING

Protecting the crypto system: The importance of KYC and AML!

In today’s world, financial transactions are increasingly carried out online, whereas in the crypto world, transactions are only carried out online, making the need to combat fraud and scams more urgent than ever.

Among the tools that ensure our security in these operations are Know Your Customer (KYC) and Prevention of Money Laundering and Terrorist Financing (AML).

What is KYC?

KYC, or “Know Your Customer”, is a process by which crypto companies and financial institutions verify the identity of their customers. This involves obtaining information such as full name, address, contact details and verifying the authenticity of identity documents.

Most of these processes are nowadays carried out online and in many cases by companies approved by entities such as SEPBLAC.

What is AML?

AML, or “Anti Money Laundering”, is a set of measures aimed at preventing money laundering and terrorist financing. These measures include the monitoring of both fiat and crypto transactions, the reporting of suspicious activity and the implementation of controls to prevent persons or entities involved in illicit activities from accessing both the financial system and the crypto system.

Why are KYC and AML important and necessary?

Effective implementation of KYC and AML offers numerous benefits for the financial system, the crypto system and society at large:

  • Combat fraud and scams:

By verifying the identity of customers, it reduces the likelihood that people intent on committing fraud or scams will open accounts or conduct transactions in both sectors.

  • Protects the integrity of such systems:

KYC and AML help prevent financial systems (Fiat and Crypto) from being used for illicit activities, such as money laundering, terrorist financing and corruption.

  • Build trust in the financial system:

When customers know that financial institutions (Fiat and Crypto) are taking measures to prevent fraud and illicit activities, they feel more confident when transacting and depositing their assets.

  • Promotes transparency:

KYC and AML oblige financial institutions to keep detailed records of their customers’ transactions, making it easier to identify those who engage in illicit activities or attempt to do so.

  • Protects customers:

By preventing those involved in illicit activities from opening accounts or conducting transactions, KYC and AML help protect legitimate customers from falling victim to fraud or scams.

Ultimately, KYC and AML are essential tools to ensure a safe, transparent and reliable system. Their effective implementation benefits all stakeholders, from financial institutions (Fiat and Crypto) to individual customers, contributing to a more robust and protected economic environment for all.

As a suggestion, although challenging, these KYC and AML processes should be applied to social networks, as it would be a very important step forward in the fight against fraud, scams and illegal content which, unfortunately in recent years, are being carried out by unscrupulous people to defraud the most vulnerable in the most unpunished way.

Disclaimer: The information set out herein should not be taken as financial advice or investment recommendations. All investments and trading involve risk and it is the responsibility of each individual to do their due diligence before making any investment decision.

Get ready for updates to EurocoinPay® Staking services that will take you to new heights in the world of cryptocurrencies

Get ready for updates to EurocoinPay® Staking services that will take you to new heights in the world of cryptocurrencies

Hello to all Staking enthusiasts and crypto-adventurers!

Get ready for a new update of the EurocoinPay® Staking service that will take you to new heights in the world of cryptocurrencies.

What is Staking? It is a simple way to participate in the cryptocurrency network and earn rewards. And what is so special about this new Staking update? It is for both Staking (individual and global) and will be valid until 1 January 2026.

But what are the conditions? The conditions will be revealed by EurocoinPay® in your BackOffice on 23 May 2024, so mark your calendar and get ready to find out how to participate in this exciting adventure.

At EurocoinPay® we are committed to providing you with a transparent, secure and rewarding Staking experience. We hope you will join us with confidence and enthusiasm as we embark on the journey into the future of decentralised finance.

So keep your eyes peeled for more details on 23 May. This new Staking service is designed for you and we are excited to share more information very soon.

See you in the world of Staking!

Disclaimer: The information set out herein should not be taken as financial advice or investment recommendations. All investments and trading involve risk and it is the responsibility of each individual to do their due diligence before making any investment decision.

Have you ever thought of taking advantage of the value of your cryptocurrencies in a smarter, more comfortable and convenient way?

Have you ever thought of taking advantage of the value of your cryptocurrencies in a smarter, more comfortable and convenient way?

With EurocoinPay® this is possible, thanks to the new loan service!

Hello everyone!

We are excited to share some great news with you!

At EurocoinPay® we are launching a new lending service where you can get a loan of up to 100,000 euros using your cryptocurrencies as collateral. And the best part? You don’t need to deal with notaries or tedious paperwork. We want to make things simple and hassle-free for you.

So how does it all work? It’s very simple: just deposit your cryptocurrencies with EurocoinPay® and you’ll have instant access to the funds you need. No red tape, no long waits, a fast and efficient way to get cash while keeping your valuable cryptocurrencies safe on our platform.

We want you to feel safe and comfortable using our service, which is why we have created a dedicated team to ensure that your cryptocurrencies are always protected at all times. You can trust us to provide you with a transparent and secure experience.

Don’t wait any longer! Contact us for more information on how you can make the most of this financial opportunity. We are here to help you reach your financial goals in an easier way.

We are waiting for you!

Disclaimer: The information set out herein should not be taken as financial advice or investment recommendations. All investments and trading involve risk and it is the responsibility of each individual to do their due diligence before making any investment decision.

“YOUR BITCOIN IN YOUR POCKET”

“YOUR BITCOIN IN YOUR POCKET”

EurocoinPay® and its 0.0 Crypto Card triumph in Spain among Generation X

Since its launch a year ago, the success of the EurocoinPay® Debit Card marks an important milestone in the mass adoption of cryptocurrencies in the global financial sector.

The EurocoinPay® Card has exceeded all expectations, giving users the ability to spend their cryptocurrencies at millions of merchants worldwide with the convenience and familiarity of a conventional debit card.

Key factors in its success include:

  • Security and Trust: With Mastercard’s reputation and expertise in financial security, the EurocoinPay® Cryptocurrency Card provides users with safety and security for all their transactions.
  • Ease of Use: The card offers an intuitive and accessible user experience, allowing users to convert and spend their cryptocurrencies seamlessly and conveniently.
  • Broad Acceptance: Users have access to an extensive network of merchants and ATMs around the world, significantly increasing the utility of cryptocurrencies in everyday life.
  • Instant Conversion: The ability to convert cryptocurrencies into fiat currency instantly has removed barriers to entry and given users greater flexibility in managing their digital assets.

The resounding success of the EurocoinPay® Card is a testament to the growing interest and widespread adoption of cryptocurrencies as a legitimate payment method in the global economy.

For more information about the EurocoinPay® Cryptocurrency Card and its benefits visit the website, where you will also find a global ecosystem with a cryptocurrency trading platform and payment gateway for e-commerce.

The paradigm shift in the financial world is now a reality!

Disclaimer: The information set out herein should not be taken as financial advice or investment recommendations. All investments and trading involve risk and it is the responsibility of each individual to do their due diligence before making any investment decision.

Facing the fear of “what people will say” about your cryptocurrency investments

Facing the fear of “what people will say” about your cryptocurrency investments

Fear of social rejection is a powerful factor that can inhibit people from expressing their opinions and sharing their experiences, especially when it comes to financial topics such as cryptocurrency investments.

In the case of social media, this fear is further intensified due to the public nature of these platforms. Every “like,” comment or interaction leaves a digital trail that can be visible to a wide network of friends and followers.

For many cryptocurrency enthusiasts, this creates a psychological barrier that prevents them from openly sharing their interest in this area. They fear being judged, criticized or even ridiculed by those close to them, which can lead them to silence themselves and hide their involvement in the world of cryptocurrencies.

The consequences of silence

This silence has a negative impact on the crypto community at large. By not sharing their experiences and knowledge, reluctant investors limit the growth and adoption of cryptocurrencies. In addition, companies operating in this sector are deprived of support and recognition from their own customers, which hinders their development and expansion.

What to do if you find yourself in this situation?

If you feel identified with this fear of “what will they say” in relation to your cryptocurrency investments, it is important for you to know that you are not alone. Many other enthusiasts have gone through the same situation and have found a way to overcome it. Here are some tips that can help you:

  • Inform yourself and make your own decisions:

    It is essential that you do your own research and analysis before investing in any asset, including cryptocurrencies. Don’t be swayed by the opinions or recommendations of others without first carefully evaluating the information and considering the risks involved.

    • Trust your own judgment:

    No one has the right to think or decide for you. Your money, your time and your decisions are yours and only you should be responsible for them. Don’t let fear of rejection stop you from making the decisions you believe are right for your financial future.

    • Exercise your freedom of expression:

    Social networks are a space to share ideas, experiences and opinions. Do not censor yourself for fear of criticism. Share your interest in cryptocurrencies in a responsible and respectful way, always based on verified information and avoiding promoting imprudent investments.

    • Surround yourself with like-minded people:

    Look for online communities or local groups where you can connect with other cryptocurrency enthusiasts. In these spaces you will find support, information and the opportunity to share your experiences without fear of being judged.

    • Be an example to others:

    By sharing your experience openly and honestly, you can inspire others to overcome their fears and explore the world of cryptocurrencies responsibly. Remember that your voice and your experience are valuable to the community.

    Freedom of speech and thought is fundamental.
    Do not allow fear to silence you.
    Inform yourself, make your own decisions and trust your judgment.
    Surround yourself with like-minded people and set an example for others.

    Share your experience responsibly and respectfully.

    By overcoming the fear of “what people will say” and openly sharing your interest in cryptocurrencies, you contribute to the growth and adoption of this sector, as well as inspire others to take control of their financial future.

    Disclaimer: The information set out herein should not be taken as financial advice or investment recommendations. All investments and trading involve risk and it is the responsibility of each individual to do their due diligence before making any investment decision.

    VC blockchain and crypto funding rises in Q4 2023: Report

    VC blockchain and crypto funding rises in Q4 2023: Report

    The growing interest of financial institutions in crypto is attributed to the launch of the first spot Bitcoin ETFs in January, according to a report from PitchBook.

    Venture funding for crypto-related companies totalled $1.9 billion in the fourth quarter of 2023 — a 2.5% increase from the third quarter — according to a report from PitchBook. It marks the first-time venture capital (VC) investments in crypto startups have risen since March 2022.

    PitchBook highlighted that the major crypto ventures securing funding primarily center around financial and technological solutions. These include tokenizing real-world assets on the blockchain, such as real estate and stocks, and building decentralized computing infrastructure.

    Some prominent fundraises in the quarter involved crypto exchanges Swan Bitcoin and Blockchain.com, which secured $165 million and $100 million, respectively.

    Screenshot of crypto early-stage VC deals in Q4 2023.
    Source: PitchBook

    The most significant deal of the quarter involved a $225 million investment in Wormhole, an open-source blockchain development platform. Supported by Coinbase Ventures, Jump Trading and ParaFi Capital, the company acquired a valuation of $2.5 billion.

    The increased interest in crypto from financial institutions can be attributed to the launch of the first spot Bitcoin exchange-traded funds (ETFs) in the United States in January, according to PitchBook’s report.

    In the first quarter of 2023, crypto firms secured $2.6 billion in 353 investment rounds, according to PitchBook’s Q1 Crypto Report. The report showed an 11% decline in deal value from the previous quarter and a 12.2% decrease in total deals. Furthermore, the quarter marked the lowest capital investment in the space since 2020.

    The crypto industry faced challenges in 2022, with market difficulties reflected in reduced venture capital funding for blockchain and crypto sectors. Following the peak at $11 billion and 692 deals in the initial four months of 2022, VC investment steadily declined in subsequent quarters.

    Various factors led to decreased crypto and blockchain-related VC funding in 2022, including the collapse of the Terra ecosystem in May 2022, resulting in the bankruptcy of cryptocurrency lending firms Three Arrows Capital and Celsius.

    The FTX collapse in November 2022 intensified market volatility, and broader global economic factors, such as increased interest rates and inflation, also contributed to the decline in venture capital investments.

    In 2023, the crypto industry saw a turnaround, with stories of adoption worldwide and major TradFi institutions like BlackRock entering the crypto space.

    Source: Cointelegraph

    Disclaimer: The information set out herein should not be taken as financial advice or investment recommendations. All investments and trading involve risk and it is the responsibility of each individual to do their due diligence before making any investment decision.

    CryptoBoom with EurocoinPay, Token City and Stabolut

    CryptoBoom with EurocoinPay, Token City and Stabolut

    In this article we leave you the link to the TV programme Nación Innovación, presented by Chema Nieto and dedicated to boosting the innovative ecosystem, which was broadcast live on 15 January 2024 at 14:00.

    The programme featured Herminio Fernández (CEO of EurocoinPay), Eneko Knörr (Co-founder of Stabolut) and Rocío Álvarez (Partner & CMO at Token City) and the main topic was the current situation of bitcoin and cryptocurrencies.

    Source: Nación Innovación

    Disclaimer: The information set out herein should not be taken as financial advice or investment recommendations. All investments and trading involve risk and it is the responsibility of each individual to do their due diligence before making any investment decision.

    Bitcoin turns 15, will the price skyrocket with ETFs?

    Bitcoin turns 15, will the price skyrocket with ETFs?

    The SEC will have “no choice” but to approve the Bitcoin ETF and the decision will be known in a few days. What will this mean for the price of the asset?

    A highly volatile asset, it has seen sharp rises and dizzying falls. Now, investors are awaiting the approval of an ETF to invest in this type of asset. Bitcoin is 15 years old, what can we expect now from this asset and will the price skyrocket with ETFs? We take a closer look at the outlook with Herminio Fernández, CEO of EurocoinPay.

    In a few days, we could have a decision from the SEC on the approval of an exchange-traded fund, an ETF, of Bitcoin.

    A countdown that is bringing all kinds of speculation. Some even point out that the SEC is backed into a corner to give the green light.

    The expert believes that, in effect, the SEC will have no choice but to approve this fund, because all the specifications requested by the regulator have been submitted.

    A “yes” to these ETFs would mark a before and after for the cryptocurrency. But “I think it already has a very important upward momentum, for all that Bitcoin represents”.

    Physical Bitcoin

    Now, if this approval is given, all investment funds and platforms that want to offer these ETFs will have to go to the market to buy physical Bitcoin. They must be backed not by listed securities, but by real Bitcoin.

    If there are 20-30% of Bitcoin in circulation now, because most of them are in wallets, it means that those that are available to buy are scarce.

    There may be significant buying pressure, which will push prices up. “It would turn Bitcoin into a very bullish market”.

    Source: Capital Radio

    Disclaimer: The information set out herein should not be taken as financial advice or investment recommendations. All investments and trading involve risk and it is the responsibility of each individual to do their due diligence before making any investment decision.

    Enforcing MiCA, halving and new ETFs: the outlook for cryptocurrencies in 2024

    Enforcing MiCA, halving and new ETFs: the outlook for cryptocurrencies in 2024

    Traders are optimistic that the implementation of the world’s first regulation, the European MiCA, will lead to a wider acceptance of cryptocurrencies among institutions and banks.

    It has not been an easy year for the cryptocurrency industry, and yet the figures are very positive. The total market capitalisation of digital currencies has risen by more than 138%, representing an increase of more than $870 billion in capital over the previous year, and bitcoin has accumulated an annual increase of 152.53%. With exceptions, such as ether and Binance’s cryptocurrency, which are up 91.95% and 25.69% respectively, the rest of the digital currencies have appreciated by more than 150% in 2023. The ranking is topped by far by solana, which is up 937.55% year-on-year. 2023 has been the year of recovery: the FTX debacle in November 2022 was still felt in the first half of the year, especially with the collapse of Signature Bank. And 2024 is the year of consolidation. The industry is optimistic about the implementation of the world’s first regulation, the European MiCA, which will lead to greater acceptance among institutions and banks.

    From left to right, from top to bottom: Almudena de la Mata, founder of Blockchain Intelligence; Javier García de la Torre, director of Binance Spain and Portugal; Víctor Ronco, cryptocurrency expert; Ángel Luis Quesada, CEO of Onyze; Manuel Villegas, Next Generation Research Analyst at Julius Baer; Selva Orejón, professor at EAE Business School; Leif Ferreira, co-founder and CEO of Bit2Me; Simon Peters, expert cryptoasset analyst at eToro; and Herminio Fernández, CEO of EurocoinPay.

    Binance Spain and Portugal director Javier Garcia de la Torre sums up the general sentiment as follows: “Looking ahead to 2024, the outlook for cryptocurrencies is subject to a number of factors, such as regulatory developments, technological advances and market confidence.” Without a stable regulatory framework, it does not improve the reputation of assets that are still reeling from FTX and frauds that have gone around the world. The European Union took a giant step forward with MiCA, the first regulation to secure bitcoin and e-money token transfers, paving the way for regulation in the world’s major economies. “In Europe, the approval of the MiCA regulation has created an environment of greater legal certainty,” explains Almudena de la Mata, founder of Blockchain Intelligence, “traditional banks are working on models to offer custody and trading services to their customers. And with them, the use of cryptoassets is spreading and normalising.

    It is precisely the banks that will have the future of cryptocurrencies in their hands. “It won’t be long before we see how anyone can open a bitcoin account at a bank and deposit their assets there, delegating the trust of the assets they have held until now to the bank,” says Ángel Luis Quesada, CEO of Onyze. It is a chain reaction of regulatory implementation in EU member states: if there is support from regulators, there will also be support from the banking industry, which will see a new business window in cryptocurrency accounts. “MiCA will be the starting pistol for banks, where little by little in the following years almost all banks in the world will offer bitcoin to their customers,” says Leif Ferreira, co-founder and CEO of Bit2Me. Thus, he adds, will come “mass retail adoption”.

    The advent of ETFs

    After establishing a regulatory framework, the next step is institutional acceptance. In recent months, the crypto environment has been reinvigorated by news of the possible creation of a bitcoin spot price ETF. The market has seen around 12 applications for bitcoin spot price ETFs, some from large asset managers such as BlackRock, Fidelity, Wisdom Tree and Invesco. Blackrock, for example, has acknowledged “strong demand for bitcoin” from its clients. “A spot bitcoin ETF offers investors the possibility of investing in bitcoin without these managers actually holding the currency, as it is held by investment funds, thus avoiding the challenges of storage and security,” says Herminio Fernández, CEO of EurocoinPay. It would be an attractive product both for institutional investors due to its low costs and regulatory advantages and for individual investors who have so far avoided including bitcoin in their portfolios due to the difficulty of working directly with blockchains.

    10 January 2024 is the deadline for the US Securities and Exchange Commission (SEC) to decide whether to approve or reject the bitcoin exchange-traded fund application filed jointly by Ark Invest and 21 Shares, while deadlines for other applications expire around March. That said, if the first ETF is approved, “it will happen as a whole, as many of the products share the same characteristics, and the SEC should not favour any one,” says Manuel Villegas, next generation research analyst at Julius Baer. For the moment, the winds are blowing in our favour. According to Reuters, the SEC has reportedly been meeting frequently with BlackRock, Grayscale, Fidelity and Invesco on this issue and at least two of these managers were instructed by the regulator to file final changes to their form by 29 December.

    It should be recalled that the SEC was notable this year for its tougher tone against cryptocurrencies and the actions taken against some of the best-known exchange platforms in the sector, such as Coinbase and Binance. In this regard, EAE Business School professor Selva Orejón stresses the need for companies in this industry to focus on “building a solid reputation, addressing public concerns and highlighting their efforts in security and regulatory compliance“, hence transparency and effective communication are “essential”.

    Halving’, the formula to boost the price of bitcoin

    The cryptoasset market faces 2024 with a special expectation: bitcoin halving. Every four years, bitcoin halves the reward for each block mined. This event, known as halving, stipulates that for every 210,000 blocks added to the blockchain (roughly every four years), the reward to miners and the amount of new bitcoins put into circulation is cut by 50%. “The token economics governing this blockchain is based on there being a total of 21 million bitcoins mined, with a decreasing supply or new issuance of assets,” explains Simon Peters, cryptoasset analyst at eToro.

    The supply shock comes from halving, due in April 2024, which “will cause the reward per block to drop from 6.25 bitcoins to 3.125 bitcoins and bitcoin’s own annual inflation rate from around 1.7% to around 0.85%”. Traditionally, this decrease in supply, coupled with demand, usually translates into an increase in the price of the reigning cryptocurrency. “As bitcoin has about half the market capitalisation of the total market, this usually triggers a new bull cycle for the entire industry,” assumes cryptocurrency expert Victor Ronco.

    Source: elPeriódicodeEspaña/activos

    Disclaimer: The information set out herein should not be taken as financial advice or investment recommendations. All investments and trading involve risk and it is the responsibility of each individual to do their due diligence before making any investment decision.