PayPal’s millions of European users can now deposit funds to the bitFlyer Europe platform to buy cryptocurrencies safely and securely. New empirical evidence on cryptocurrencies emerges rapidly, and it is thus necessary to consolidate the knowledge gained and identify the gaps therein… The downside momentum should be strong enough to take out 1.1737 if tested. This should lead to quick test of the main 50% level at 1.1691. GBP/USD rates look poised to break lower amid escalating ‘no-deal’ Brexit concerns and rising coronavirus case numbers. Huobi Global today released details from a new survey exploring the investment profiles of retail cryptocurrency traders in emerging markets. The survey results suggest that digital assets like Bitcoin (BTC) and Ether (ETH) have become the first point of entry to financial management for many individuals
Leading cryptocurrency exchange bitFlyer has announced an integration with global payments platform PayPal.
The integration means that PayPal’s millions of European users can now deposit funds to the bitFlyer Europe platform to buy cryptocurrencies safely and securely. The integration is the latest step by bitFlyer to deliver on their mission of making cryptocurrency trading safer and more accessible globally, and to support and protect users who may be new to cryptocurrency as well as more experienced traders.
Andy Bryant, COO of bitFlyer Europe, said, “We’re proud to offer users the opportunity to use their PayPal accounts to deposit funds for purchasing crypto. The integration of PayPal adds a new funding source for bitFlyer users. Thousands of bitFlyer users already use PayPal for fiat transactions. Now, users can purchase bitcoin and other cryptocurrencies in the same way too.”
The integration provides bitFlyer users with an alternative to the traditional deposit payment methods currently accessible via the bitFlyer Europe trading platform, including wire transfers. Traditional payment methods can often take up to three business days for deposits to clear. With PayPal, deposits are typically nearly instant.
Jacek Bastin, Business Strategy Manager at bitFlyer Europe, added: “The cryptocurrency space is still in its infancy, and despite the ecosystem growing, the industry is still daunting for newcomers. Given that approximately a third of European e-commerce payments are being processed through PayPal, we are more than thrilled to provide users with a deposit method they know and rely upon. The process to deposit through PayPal is entirely frictionless, secure and reliable, with users to be credited near to instantly”.
bitFlyer Europe launched in January 2018 as a fully owned subsidiary of bitFlyer, Inc., a household name in the cryptocurrency space in Japan, and one of the longest-standing cryptocurrency exchanges. bitFlyer is the only cryptocurrency exchange that is regulated in Japan, the US and Europe combined, and has also been recognised as one of only 10 exchanges that isn’t faking trading volumes.
About bitFlyer Europe S.A.
bitFlyer Europe S.A. is a wholly-owned subsidiary of bitFlyer, Inc., a leading bitcoin and blockchain company based in Japan. The European office is located in Luxembourg and operates an exchange platform for European traders to buy and sell virtual currencies. bitFlyer Europe S.A. site: https://bitflyer.com/en-eu/
View source version on businesswire.com: https://www.businesswire.com/news/home/20200920005040/en/
Objective and Subjective Risks of Investing into Cryptocurrencies
We provide a focused, systematic literature analysis of objective and perceived risks about investing into cryptocurrencies
50 papers from both academic and practice-oriented literature are analyzed, categorized and described
We identify three important and promising research avenues, which we advertise to be put into further research focus
A lack of non-standard financial investment risk analyses is discussed
New empirical evidence on cryptocurrencies emerges rapidly, and it is thus necessary to consolidate the knowledge gained and identify the gaps therein. We provide a focused, systematic literature analysis of the objective and perceived risks of investing in cryptocurrencies using 50 papers from both the academic and practice-oriented literature. As an additional contribution, we identify three important and promising research avenues, which we contend should be the focus of future research: (i) subjective perception of risks, (ii) adoption of cryptocurrencies implementing innovation research and (iii) non-standard financial risks.
systematic literature review
© 2020 Published by Elsevier Inc.
EUR/USD Mid-Session Technical Analysis for September 21, 2020
The Euro is under pressure on Monday as investors moved their money into the safe-haven U.S. Dollar after global equity market plunged. Euro zone bond yields were little moved in early Monday trading with last week’s dovish forward guidance from central banks keeping yields stuck in narrow ranges, while investors await a clutch of economic data this week.
At 14:35 GMT, the EUR/USD is trading 1.1752, down 0.0090 or -0.76%.
The Financial Times, citing two European Central Bank governing council members, reported that the ECB had launched a review of its emergency bond purchase scheme that was introduced in response to the coronavirus crisis in March, but the story had little impact on bonds yields.
In other news, European countries are likely to impose more restrictions on public life in the coming days as the number of daily coronavirus infections rises rapidly.
Coronavirus cases are rising so rapidly in Europe that the World Health Organization (WHO) warned last week that there was a “very serious situation” unfolding in the region, calling the resurgence in infections a “wake up call.”
The main trend is down according to the daily swing chart. A trade through 1.1917 will change the main trend to up. A move through 1.1737 will signal a resumption of the downtrend.
On the upside, resistance is a fear of retracement levels at 1.1826, 1.1861 and 1.1882.
On the downside, the first target is a 50% level at 1.1691. This is a potential trigger point for an acceleration to the downside with the next target the Fibonacci level at 1.1616.
The downside momentum should be strong enough to take out 1.1737 if tested. This should lead to quick test of the main 50% level at 1.1691.
Another lower top at 1.1872 means that a potentially bearish secondary top is forming. This will confirm the shift in momentum to the downside.
For a look at all of today’s economic events, check out our economic calendar.
Author: James Hyerczyk1 hour ago (Sep 21, 2020 02:57 PM GMT)
GBP/USD To Extend Slide on No-Deal Brexit Fears, Covid-19 Second Wave
- The US Dollar extended its slide lower during Asia-Pacific trade.
- The Bank of England’s continued discussions on the effectiveness of negative rates may weigh on the British Pound.
- GBP/USD poised to break lower as price carves out a Bear Flag just above key support.
The haven-associated US Dollar resumed it slide lower against its major counterparts during Asia-Pacific trade, as the risk-sensitive Australian Dollar climbed back above the 0.73 level.
Asian equities broadly declined, led by Hong Kong’s Hang Seng Index, which plunged over 1.5% after HSBC was placed on China’s ‘unreliable list’.
Gold and silver dipped lower alongside crude oil, while platinum and palladium crept higher.
Looking ahead, speeches from ECB President Christine Lagarde and multiple Federal Reserve members headline a rather light economic docket.
Market reaction chart created using TradingView
The Bank of England’s continued discussions on “the effectiveness of negative policy rates” could weigh on the performance of the politically-sensitive British Pound in the coming months, with the Monetary Policy Committee (MPC) being “briefed on the Bank of England’s plan to explore how a negative Bank Rate could be implemented effectively” at its September meeting.
In fact, the central bank took it a step further at its recent monetary policy meeting, stating that “the Bank of England and the Prudential Regulation Authority will begin structured engagement on the operational considerations [of negative rates] in 2020 Q4”.
This suggests that British policymakers are actively considering taking the Bank Rate into negative territory “should the outlook for inflation and output warrant it at some point during this period of low equilibrium rates”
That being said, with all MPC members judging that “the existing stance of monetary policy remained appropriate at this meeting” it appears additional stimulus measures may be off the table until early next year.
Nevertheless, deteriorating Brexit negotiations and a worrying surge in Covid-19 cases may force the hand of the central bank and in turn drag on the local currency against its major counterparts.
Source – Bank of England
Although European Commission President Ursula von der Leyen is “convinced” that a deal with the United Kingdom is possible, it seems unlikely that with “significant gaps remaining in key areas, including fisheries and subsidies” that an all-encompassing trade deal can be successfully ratified in time to avoid a dreaded “no-deal” Brexit.
Moreover, UK Prime Minister Boris Johnson’s decision to introduce legislation allowing the nullification of parts of the Brexit agreement with the European Union could put further strain on the pivotal relationship between the two regions. Johnson moved forward with the bill despite the Government openly admitting that it would violate international law.
Furthermore, the Prime Minister’s decision has been met with global condemnation and prompted US Democratic presidential nominee Joe Biden to state that “we can’t allow the Good Friday Agreement that brought peace to Northern Ireland to become a casualty of Brexit [and] any trade deal between the US and UK must be contingent upon respect for the Agreement and preventing the return of a hard border”.
Of course, Mr Biden is still running in a hotly contested debate with incumbent President Donald Trump and although he currently leads the polls against his Republican counterpart, it is hardly a certainty that he will be successful come November 3.
Nonetheless, the Democratic nominee’s statements may begin to hold more weigh over the next 6 weeks and could begin to have a material impact on the GBP/USD exchange rate if Biden continues to increase his lead in the polls.
To that end, GBP/USD seems poised to extend its slide from the monthly high amid deteriorating Brexit negotiations, rising cases of Covid-19 and a BoE ready to introduce a negative interest rate policy if the situation calls for it.
GBP/USD daily chart created using TradingView
As noted in previous reports, the GBP/USD exchange rate appears to be gearing up to extend its slide from the yearly high (1.3483), as price carves out a Bear Flag continuation pattern just above the sentiment-defining 200-day moving average (1.2760).
With both the RSI and MACD indicators tracking below their neutral midpoints, the path of least resistance looks to be lower.
Inability to break above the psychologically imposing 1.30 level could signal the resumption of the downtrend extending from the September high (1.3483), with a break below flag support (1.2762) probably igniting an impulsive downside push to test support at the 61.8% Fibonacci (1.2613).
Conversely, a daily close back above the August low (1.2981) could encourage would-be buyers and bring about a retest of the March high, if GBP/USD can overcome 21-DMA resistance (1.3093)
— Written by Daniel Moss, Analyst for DailyFX
Follow me on Twitter @DanielGMoss
Author: Daniel Moss
Cryptocurrencies are Primary Investments for Many, Finds New Huobi Survey
The leading digital asset exchange conducted a survey to uncover new insights about the average retail crypto trader in emerging markets
LONDON, Sept. 21, 2020 /PRNewswire/ — Huobi Global today released details from a new survey exploring the investment profiles of retail cryptocurrency traders in emerging markets. The survey results suggest that digital assets like Bitcoin (BTC) and Ether (ETH) have become the first point of entry to financial management for many individuals. Despite the majority of retail cryptocurrency traders having some prior exposure to financial products and services, few actively invest in traditional investment vehicles like stocks, bonds, and mutual funds.
“As an exchange that serves millions of users around the world, it’s important for us to stay informed on the evolving needs and behaviors of the retail trader,” said Ciara Sun, Vice President of Global Business at Huobi Group. “With this survey, we set out to take an active pulse of users in emerging markets, which will help us design and launch better products for the broader crypto community.”
In an opt-in online survey, Huobi polled a total of 491 active users in emerging markets across Europe, Asia, Africa, and South America to better understand their preferences and habits related to digital assets and other financial instruments.
User surveys are conducted on a regular basis but this marks the first time Huobi has released results in an effort to bring more transparency and attention to the burgeoning crypto-first investor community. Survey findings often influence and inform Huobi’s product strategy and roadmap. Last month, Huobi launched a crypto savings product in public beta based on the results of this survey.
The survey found that:
- Retail (crypto) traders are relatively new to investing. 78% have at least one year of general financial management or investment experience, but only 1 in 5 has five or more years of experience. Considering 73% of respondents were of prime working age (26-50 years old), age was not a major contributor to the low levels of prior investing experience.
- Digital assets are the primary investment vehicles for retail traders. Just 1 in 3 invest in traditional stocks and only 8% hold fixed income products like bonds. While roughly a quarter of respondents have invested in other vehicles like real estate, investment funds, and forex, cryptocurrencies are the predominant asset class for this investor segment.
- Retail traders have an appetite for more crypto investment products. While 34% prefer to trade and manage their own digital asset portfolio, many are interested in a diverse range of crypto investment vehicles, especially interest-bearing products with fixed or flexible terms.
- Most retail traders have a modest income but invest a significant portion of their earnings. A majority (54%) report having an annual income of $10,000 USD or lower, and very few (13%) earn more than $50,000 USD per annum. Nearly half (49%) of the respondents plan to invest between 10-30% of their annual income in digital assets, and almost 1 in 4 (23%) plans to allocate more than 30% of their income to crypto.
- Most retail crypto investments are short term—with the exception of BTC and ETH. A majority (55%) invest in digital assets with a shorter than a one-year horizon, but a small minority (13%) invest in the long term (4+ years). However, crypto traders are much more likely to hold BTC and ETH long term compared to other digital assets.
Sun added, “These findings aren’t surprising but they do solidify our belief that digital assets will continue playing a significant role in the future borderless economy and help drive global financial inclusion. As crypto becomes more accessible, it will become a gateway to other financial products and services, helping set a path to financial wellbeing.”
About Huobi Group
Huobi Group is the world’s leading blockchain and cryptocurrency infrastructure provider with a financial product suite that includes the largest digital asset exchange by liquidity and real-trading volume. Trusted by users over 170 countries, the Huobi platform is dedicated to improving the freedom of money for users, and features an unmatched portfolio of crypto products and offerings, including: trading and finance, cryptocurrency finance infrastructure solutions, education, data and research, social welfare, investment and incubation, and many more. For more information, visit https://blog.hbg.com/
For Media Enquiries:
View original content:http://www.prnewswire.com/news-releases/cryptocurrencies-are-primary-investments-for-many-finds-new-huobi-survey-301134622.html
SOURCE Huobi Global