Mark Cuban is reliving the internet boom when he looks at crypto. The ‘consolidation phase’ is coming, he says

 Mark Cuban is an American billionaire entrepreneur. He is the owner of NBA team Dallas mavericks and co-owner 2929 entertainment LLC. His current worth is 4.3 billion dollars being one of the main sharks on shark tank. Cuban is also a preacher of cryptocurrency dogecoin. A huge part of his wealth is invested in dogecoin. He even accepts it as a mode of payment in the transactions related to his basketball team Dallas mavericks.

He is one of the most influential people in the industry. He is also the bestselling author of How To Win At The Sport Of Business. Cuban has also been the winner of GQ men of the year in 2006. In a recent interview with Fortune Cuban expressed his opinion on cryptocurrency’s boom and its comparison with a similar evolution in IT field which was internet and the dotcom boom in 2000s.
Cuban tweeted “Crypto is going through the lull that the internet went through,”. “The chains that copy what everyone else has will fail,” he also added “We don’t need NFTs or DeFi on every chain.” Cuban through his tweet was trying to bring focus upon how the crypto currency industry is entering the imitation phase. The concept of decentralised NFTs is attracting more and more people everyday but that has also led to blockchains copying other blockchains which are already doing well. Cuban compared this with 2000s when the same was happening with website domains with startups copying ideas of other startups and launching identical products. “Consolidation phase next,” Cuban said this in his interview with fortune, where copycat blockchains will die out. “There will be blockchains that, rather than die, get acquired or merge.” Cuban, who made his wealth when internet was in its initial stages in 90s now majorly invests in crypto businesses. He believes that the biggest opportunity in blockchains and crypto currencies is for them to use contracts or certain sets of code to set instructions on blockchain.
The companies and businesses that implement this will have much more advantage than others “The chains that realize this will survive.” Once the account is verified you can then start trading through Coinbase exchange.
The exchange accepts 18 different fiat currencies and provides more than 100 crypto currencies to buy and sell such as Bitcoin, Ethereum, Dogecoin.
  • Coinbase wallet
Coinbase is an American easy-to-use cryptocurrency exchange which is trusted by over 73million users across the globe in more than 100 countries with 255 billion dollars in assets on platform. Coinbase is one of the oldest and safest cryptocurrency exchanges by making its name since 2012. it is a basic and simple crypto exchange offering tons of crypto currencies to purchase. Once the account is verified you can then start trading through Coinbase exchange. The exchange accepts 18 different fiat currencies and provides more than 100 crypto currencies to buy and sell such as Bitcoin, Ethereum, Dogecoin. Coinbase customers have various options for depositing and withdrawing funds to purchase and sell cryptocurrencies. These options may vary slightly from country to country, but most deposit and withdrawal options are offered across the board, including for the United States. Coinbase allows customers to start investing with a smallest of amount of $2 to a daily limit of $50000. Customers can make payment through their bank account, debit card, wire transmission, PayPal, google pay and apple pay, depending upon the size of investment.

Comments

Post a Comment

Popular posts from this blog

Global crypto asset management platform, Kassio unveils its India operations

Image
  Global cryptocurrency asset management platform, Kassio, which offers investment solutions such as earn, shop, borrow, and trade, unveiled its India operations on Monday. Founded in 2020, Kassio was co-founded by Sachin Singh, Anuj Yadav and Bharat Vivek, with an overall experience of 10 years in building technology and product-based undertakings and expertise in cryptocurrency exchange and products. Commenting on the launch in India, Kassio's co-founder and chief operating officer, Bharat Vivek, said, “We are very excited to launch Kassio as it will be instrumental in providing quality and wholesome crypto offerings, especially in the Web3 space.” With its beta version going live in April, Kassio has received over 30k applications on its platform. According to the company, more than 60% of these applicants have already registered and verified on the platform and are currently using different Kassio products.In a statement, Kassio said that it has started with a vision to
Read more

Crypto company Ripple exploring IPO after SEC lawsuit ends

Image
  Digital asset firm, Ripple is exploring the possibility of an Initial Public Offering (IPO) once its pending lawsuit with the U.S. Securities and Exchange Commission (SEC) has ended, CEO Brad Garlinghouse told CNBC news. The company usesthe world’s sixth-largest cryptocurrency ,  XRP , to facilitate cross-border payments. Ripple has been involved in a fifteen-month-long lawsuit with the SEC, which alleges that Ripple’s token XRP classifies as security. Therefore, the SEC’s lawsuit claims that the company executives illegally offered securities while selling XRP. However, the firmclaims that XRP should not be classified as a security. XRP is currently the sixth-largest cryptocurrency, with a market capitalization of $19.54 billion. It uses the token to offer a cross-border payments system. “I think we want to get some certainty and clarity in the U.S. with the SEC. You know, I’m hopeful that the SEC will not slow that process any more than they already have done,” Garlinghouse t
Read more

Coinbase exchange’s rapid rise left it exposed in Crypto winter

  Brian Armstrong, an early enthusiast of blockchain technology, built the cryptocurrency exchange Coinbase Global Inc. (COIN) to be a big company. He hired personnel by the hundreds, pushed into new geographies and scaled up the number of digital coins available on the platform. Coinbase exchange became the largest cryptocurrency exchange in United States and went public in spring of 2021 with a market capitalization of nearly $86 billion. This year’s cryptocurrency winter has dropped that value to roughly $21 billion. And it has left Mr. Armstrong to struggle with an expansive business now faced with huge expenses, falling cash and, more recently, a challenge from federal regulatory bodies. Adam Dell, chief executive of Domain Money, an app that allows investors to buy investments including cryptocurrency and is a Coinbase exchange competitor said that “ Coinbase expanded wildly before it got its sea legs. They grew so fast that it got away from them.” Almost every cryptocurre
Read more