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Binance Users Can Now Use Google Pay And Apple Pay Features to Purchase Cryptocurrencies

By
Ojukwu Emmanuel
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0

Users of the largest crypto exchange platform Binance can now use Google pay and Apple pay features to purchase cryptocurrencies on the platform.

Binance announced this via a tweet on December 29, 2022, which reads, “#BinanceBuild update: Apple Pay and Google Pay payment options are now available on #Binance ! Purchase crypto, with ease.”

This is Binance’s latest move to enhance accessibility and ease of payment for users. The introduction of these features has opened it to 43.9 million Apple pay and 25 million Google pay users.

Some users on the platform have gone ahead to test the feature, and have revealed that it functioned properly.

With the introduction of Google pay and Apple Pay features, which are two of the most popular mobile wallets in the market, it will attract more users, which will enable them to purchase crypto easily.

Also, this would lead to a vast market share of users interested in purchasing digital currencies.

Although, despite the effectiveness of these payment integrations, some users will be faced with difficulty using it as a payment option, due to the fact that Apple Pay and Google Pay are not permitted in all countries.

Check Out the Steps on How Users Can Use The Google pay and Apple Pay feature to Purchase Cryptocurrencies

  1. First Log into the Binance App.
  2. Select Buy crypto with Google Pay/Apple Pay or Trade
  3. From the trade menu, browse Fiat and select a preferred currency
  4. Now, choose the Buy Crypto option
  5. Enter the desired amount and let the system convert it into crypto
  6. Press the Buy option
  7. Now, choose between Apple or Google Pay
  8. Tap on Confirm and verify the details
  9. Wait for the transaction to process
  10. Users will now be redirected to the Apple Pay or Google Pay transaction page
  11. Confirm the payment by following the on-screen instructions
  12. Choose View Wallet after the payment is done

Ronaldo Signs ~$200M per Year Deal with Saudi Arabia’s Al Nassr: He’s Paid His Dues, Time to Make Money

By
Samuel Nwite
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1

It seems like an inglorious end to an illustrious career in Europe. Not close to what he himself or his fans expected. But it’s the “available” that becomes “desirable”, and there is a staggering fortune at the end.

On Friday, Saudi Arabian side Al Nassr announced that they have signed Cristiano Ronaldo on a two-year contract, confirming the rumored move for the Portuguese forward following the termination of his contract with Manchester United.

“History in the making. This is a signing that will not only inspire our club to achieve even greater success but inspire our league, our nation and future generations, boys and girls to be the best version of themselves,” Al Nassr said in a statement after the signing.

Founded in Riyadh in 1955, Al Nassr is one of Saudi Arabia’s oldest football clubs with nine Saudi Premier League titles to its name.

Ronaldo reportedly signed for the Saudi Arabian side on a near $200 million per year contract that will keep him in Asia until 2025, after he failed to secure a club in Europe.  Under the deal, he will be provided with a home in an affluent area close to the training ground. Ronaldo is expected to be paid more than $1 million weekly, in addition to earnings from his image rights. He will also play a role in the Saudi’s bid for the 2030 World Cup, where he is expected to serve as the ambassador.

“I’m thrilled for new experience in a different league and a different country, the vision that Al Nassr has is very inspiring. I am very excited to join my teammates, to help the team to achieve more success,” Ronaldo was quoted to have said after signing for Al Nassr.

But his move has stirred mixed reactions from cross sections of football fans, with some arguing that he deserves better than playing in Saudi Arabia.

“Al-Nassr isn’t even in Asian Champions League this season. Ronaldo wanted Uefa Champions League, he didn’t even get AFC Champions League,” a fan said.

Ronaldo maintained a high-playing rivalry with Argentinean and PSG playmaker Lionel Messi in Europe for more than 15 years. With his record as five-time UEFA Champions League winner, UEFA Euro winner and National League winner – racking up 819 career goals in 1,100 professional appearances, Ronaldo is said to deserve better than Saudi Arabia retirement.

“I really hope this Cristiano Ronaldo rumor about joining Al Nassr is not true, a legend of the game like him doesn’t need to drag his career to a league lower than the Top 4 Leagues in the world,” another fan said.

But having played in top-3 leagues in Europe, winning the titles, others believe that Ronaldo has paid his dues, and now it’s time to make some money.

The 37 year old got into trouble with Manchester United in November after he granted a tell-all interview to British TV host, Piers Morgan. In the interview, Ronaldo had accused the English club of lack of seriousness and disrespect following the coach’s decision to put him on the bench. He had referenced an incident where the coach, Erik ten Hag, had asked him to warm up just three minutes to the end of the match, but he instead walked off into the tunnel, describing it as disrespect.

“… I felt provoked by the coach. Not allowed for me, a coach to put me in three minutes in a game. Sorry, I’m not that kind of player. I know what I can give to the teams,” he told Piers Morgan.

Ronaldo’s predicament was exacerbated at the Qatar World Cup won by Argentina, where he was also put on the bench by Portuguese coach Santos. Portugal made it to the quarter finals of the tournament, but Ronaldo watched from the sidelines as his lead role was taken by a couple of youngsters in the team.

However, Ronaldo’s move to Al Nassr is being considered as the greatest slap in the face of his enviable career. He himself said years ago that going outside Europe in his final playing days is not on his checklist.

“I want to retire with dignity. Not in the USA, Dubai or Qatar” he said.

Ronaldo received several rejections from European clubs, forcing him to reconsider Al Nassr that has been in contact with him over the summer. His failure to find a team in Europe and his move to Saudi Arabia is as a result of decline in his performance, which is expected for a player of his age.

“Cristiano Ronaldo’s a fantastic player and, as I’ve said before, he and [Lionel] Messi are the two best players probably to play the game.

“And, again, it’s not a criticism. What I’ve said is age comes to all of us, and Cristiano is obviously feeling that and he’s finding it hard to deal with that,” Ronaldo’s ex teammate at Man Utd, Wayne Rooney told CNN.

Although he appears to be accepting the inevitable the hard way, it’s not that bad for a 37-year old. Ronaldo is said to have a net worth of about $500 million, thus, signing a two-year contract worth nearly $200 million a year in a league far less competitive is believed to be the fastest path for him to become a billionaire.

Why Great Leaders Modulate Power to Build Efficient Teams

By
Ndubuisi Ekekwe
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1

He flew in from the United States for a Board meeting. The founders wanted him to speak with someone they had concluded for a very important and lucrative growth role.  But he had a different plan, asking them that instead of waiting for the candidate to come to the board room, he would go where she was with others to meet her.

When he got there, there was a little excitement that he came in person. Some staff asked for selfies, etc. But one person did not show any sign, staying focused on her laptop. Then, one of the staff tapped her: meet our Chairman. She jumped up and extended her hands….Decision time: the Chairman was concerned, not because of himself, but because of potential customers. They did not hire her – and a company which later hired her let her go after 4 weeks.

Good People, as you rise in power and status, people will like to impress and please you. What happens is that under that power influence, you lose the capacity to judge character because people will mask everything to please you, especially if you lead by projecting absolute power, instead of leadership power.

That explains why great leaders  modulate power, so that by doing so, the opportunity to understand team members will not be lost. You need that knowledge to build a great company especially at the senior leadership level. Teams win markets because every great company has great products and  superior execution capacity. Only efficient teams execute at the highest level.

India Explores Framework for Prohibition of Unbacked Crypto Leveraging Its G20 Presidency

By
Samuel Nwite
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0

India is planning to develop a framework for global regulation for unbacked crypto assets under its G20 presidency, marking the first country to make the move amid rising calls for the industry to be regulated.

The South Asian country said Thursday that assets in consideration under the framework include stablecoins and decentralized finance. It added that it will explore the “possibility of [their] prohibition” in a potentially large setback for the nascent industry, per TechCrunch.

India is seeking to use its newly-found influence to push the framework globally. TechCrunch reports that India started its role as the head of G20 in early December. The group, which comprises 19 nations across continents and the EU, represents 85% of the world’s GDP. In addition to this number of economically viable countries in its membership, the G20 also invites non-member countries including Singapore and Spain and international organizations such as World Bank and the IMF.

But the crypto industry has had to deal with an unfriendly environment in India as the government introduced new rules, including taxation of digital assets, as part of efforts to regulate the market.

To crypto investors, the rules become a preamble of what India’s global framework for crypto regulation will look like.

The move

The Reserve Bank of India, the Indian central bank, said in a report on Thursday that crypto assets are highly volatile and exhibit high correlations with equities in ways that dispute the industry’s narrative and claims around the virtual digital assets being an alternative source of value due to their supposed inflation-hedging benefits.

The Indian central bank warned that policymakers across the globe are concerned that the crypto sector may become more interconnected with mainstream finance and “divert financing away from traditional finance with broader effect on the real economy.”

The Indian central bank is among one of the most vocal critics of the crypto industry. RBI Governor Shaktikanta Das warned last week that private cryptocurrencies will cause the next financial crisis unless its usage is prohibited.

“Change in value in any so-called product is the function of the market. But unlike any other asset or product, our main concern with crypto is that it doesn’t have any underlying whatsoever. I think crypto or private cryptocurrency is a fashionable way of describing what is otherwise a 100% speculative activity,” he said in a conference.

Das said crypto owes its origin to the idea that it bypasses or breaks the existing financial system. “They don’t believe in the central bank, they don’t believe in a regulated financial world. I’m yet to hear a good argument about what public purpose it serves,” he said, adding that he holds the view that crypto should be prohibited.

India is among the nations that has taken a stringent approach with cryptocurrencies. Earlier this year, it began taxing virtual currencies, levying a 30% tax on the gains and a 1% deduction on each crypto transaction.

The nation’s move, alongside the market downturn, has severely depleted the transactions that local exchanges CoinSwitch Kuber, backed by Sequoia India and Andreessen Horowitz, and CoinDCX, backed by Pantera, process in the nation.

Changpeng “CZ” Zhao, founder and chief executive of the world’s largest crypto exchange Binance, told TechCrunch in a recent interview that the firm doesn’t see India as a “very crypto-friendly environment.” He said the firm is attempting to relay its concerns to the local authority about the local taxation, but asserted that tax policies typically take a long time to change.

“Binance goes to countries where regulations are pro-crypto and pro-business. We don’t go to countries where we won’t have a sustainable business — or any business, regardless of whether or not we go,” he said.

Coinbase, which has backed both CoinDCX and CoinSwitch Kuber, launched its crypto platform in the country earlier this year but quickly rolled back the service amid a regulatory scare. Coinbase co-founder and chief executive Brian Armstrong said in May that the firm disabled Coinbase’s support for local payments infra UPI “because of some informal pressure from the [central bank] Reserve Bank of India.”

With more than 600 million connected users, India is the second largest internet market globally. The nation, home to one of the world’s largest startup ecosystems, has attracted over $75 billion in investment from the likes of Google, Meta, Amazon, Sequoia, Lightspeed and Tiger Global in the past decade.

Centralized exchanges (CEXs) vs Decentralized exchanges (DEXs): What Are the Pros and Cons?

By
Paul Ugbede Godwin
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1

With a crypto exchange, you can trade crypto assets with other crypto assets, cash, or other digital assets. So you want to trade and hear about centralized exchanges (CEXs) and decentralized exchanges (DEXs), the two primary forms of crypto exchanges. How do they differ? Which one is better for you?

What Is a CEX?

A CEX is a cryptocurrency exchange with a single authority and its own order book mechanism. Because CEXs hold user funds, traders must trust them to trade. They also provide a wide range of cryptocurrency-fiat currency transaction options and charge fixed fees.

CEXs are regulated and have strict know-your-customer regulations in place, all in a bid to safeguard customer assets. As a result, they aggressively pursue fraudsters under current law to avoid financial fraud.

A CEX allows traders to purchase and sell assets because its order book monitors and records all pending transactions. The CEX’s internal network safeguards this information.

MEXC Global, Binanc, Coinbase, and Kraken are examples of CEXs.

Pros of Centralized Exchanges

  • Simple user interface and easy access to cryptocurrency trading
  • They offer high liquidity because of their large trading volume and cash flow
  • Transactions are processed swiftly and in real-time
  • Wide range of trading pairs and currencies for transactions, withdrawals, and deposits

Cons of Centralized Exchanges

  • Customers will lose their assets if they go bankrupt or yield to vulnerabilities.
  • Legal teams, CEX authorities, and other operators have control over trades, contrary to the foundational idea of cryptocurrencies.

What Is a DEX?

A decentralized exchange allows peers to trade digital assets without middlemen or centralized authority. This type of crypto exchange aligns with the peer-to-peer electronic cash system introduced by Satoshi Nakamoto in his whitepaper.

DEXs facilitate the exchange of all online currencies. To utilize a DEX, you typically only need a public address.

Although DEXs can be established on any cryptocurrency network, most DEXs are based on Ethereum and use Ether (ETH) as their primary currency. Decentralized exchanges have evolved. Initially, order books were used, similar to what is obtainable in the traditional financial market. However, the most recent DEXs employ an automated market maker (AMM). But order book DEXs and DEX aggregators are still available.

Examples of DEXs include Uniswap and Yeti Swap.

Pros of Decentralized Exchanges

  • As no intermediaries or centralized authorities are present here, customers maintain control over their assets and trades.
  • User anonymity is assured with a DEX, as you are not required to submit your personal information to use one.
  • Lower chances of system breaches and inaccessibility due to server collapse because a decentralized server network is employed.

Cons of Decentralized Exchanges

  • Transactions are typically resolved slower than on CEXs
  • Generally lower liquidity than CEXs
  • The user interface of a DEX will likely be too complex for new traders
  • DEXs do not offer as many advanced trading features as CEXs

Differences Between a CEX and a DEX

Although centralized and decentralized exchanges set out to enable you to trade crypto assets, they are fundamentally distinct. Here are a few differentiating factors.

Custody

If you use a DEX, you likely hold your crypto assets. Centralized exchanges employ the use of custodial wallets, meaning that they keep your assets on your behalf. As a result, a CEX manages your security, but you’re in charge of securing your assets with a DEX.

Trade Method

Most centralized exchanges use order books, while most decentralized exchanges use automated market makers (AMMs). And with many CEXs, the process of trading and matching orders is centrally owned and protected. On the contrary, many DEXs make their processes open source, allowing anyone in their community to audit the code and detect vulnerabilities.

Checks and Privacy

There is no need for identity verifications in a DEX, unlike in a CEX where know-your-customer (KYC) and anti-money laundering (AML) checks are typically required. Because DEXs do not have a centralized authority, it is difficult for the government to force them into compliance.

Liquidity

In a centralized exchange, the platform owner pays for the liquidity. As a result, users can usually always trade their assets anytime they want. This is not so with DEXs. Trade on decentralized exchanges is peer-to-peer (P2P), so there might not be enough users willing to trade an asset, especially at your given price.

Intermediary

In a CEX, the platform (a single organization) authorizes and regulates transactions. Meanwhile, smart contract technology is employed in a DEX to regulate and authorize transactions.

Fees

Decentralized exchanges are generally less expensive because no third parties or intermediaries are involved.

CEXs and DEXs Are Vital in the Crypto Industry

Like other comparisons, both CEXs and DEXs have pros and cons. Choosing one ultimately depends on your money management style. In addition, several CEXs have recognized the authority distributed via decentralized trading and are improving their versions or incorporating DEX capabilities into their platforms. Thus, CEX and DEX will likely combine to offer a bit of both worlds.

With CEXs, new crypto traders can focus on trading and leave exchange management to the platform, placing their safety and assets at the feet of the CEX. However, DEXs offer more freedom and perhaps better payoffs but may demand more knowledge. Which is better for you?

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