Blockchain
Sphynx Announces the All-in-One Cryptocurrency Platform
Auckland, New Zealand–(Newsfile Corp. – November 16, 2021) –
Figure 1: Sphynx – the all-in-one cryptocurrency platform for the ages
The user-interface was designed with user-friendliness and simplicity in mind, ensuring that both beginners and experts will be able to navigate the platform with ease. The main menu, underneath the consolidated wallet, is to the left of the platform when viewed on a computer. The positioning is the same on mobile devices, though users will have to click the three horizontal lines on the top-left to open the main menu. Within this menu are options such as “Swap”, “Pools”, “Farms”, “Lottery”, etc.
Beside the menu (when viewed on a computer) is the swap that users can utilize to trade tokens, and to the right of that is the integrated chart that investors can use to perform market analysis. On a mobile device, both of these tools are available on the center of your screen. Everything has been strategically placed to ensure investors never have to leave the confines of Sphynx.
The vast majority of new traders are not familiar with token tax, which applies to a vast majority of tokens that exist on the Binance Smart Chain and/or the Ethereum Network. Most investors run into issues purchasing such tokens because they are not familiar with how to configure slippage tolerance levels to accommodate that tax. Sphynx eliminates that issue with its “Auto Swap” feature, which automatically selects the optimal slippage for your token of choice.
Sphynx has already made tremendous strides on the Binance Smart Chain. Its platform has been the topic of discussion for dozens of crypto influencers, all of whom have been moved by Sphynx’s progress thus far. Not only this, but Sphynx, through its NFT line, the Sovereign Sphynx Council, has also been making waves on the Ethereum Network both by locking in partnerships with big-name influencers and through its massive giveaways for community members.
Sphynx stands out from its competition because of how little it charges for trading fees. In comparison to the 0.25% (and higher) trading fees that big-name platforms charge, Sphynx charges only 0.1% for swap fees, and half of those fees go back towards the holders via Swap Fee Rewards. Furthermore, by staking $SPHYNX, investors can earn both from staking their tokens (in $SPHYNX) and from the $BNB rewards that will accumulate from swap fees.
CertiK is an internationally recognized security company that has audited the likes of Binance. What Sphynx has done is revolutionary as it has established a partnership with CertiK outside of being audited by them and commissioning their Skynet protection service. This partnership exists with Sphynx’s upcoming Launchpad. So, for a brand-new project wishing to launch on SphynxSwap, they would first have to go through CertiK and clear an audit with them in order for them to be deemed a safe project to invest in. There will be different tiers for such launches, but a good standing with CertiK will ease the concerns of traders who have been the victims of projects launched by nefarious developers with ill-intent.
Sphynx is also planning to roll out its cross-chain bridge in the near future. This will allow users to be able to bridge over to other networks outside of the Binance Smart Chain, with the first cross-chain availability being the Ethereum Network. Furthermore, investors will be able to switch between networks on the Sphynx platform itself, and will be able to trade tokens that exist outside of the Binance Smart Chain.
The streaming platform that Sphynx is also working on (SphynxTV) is just another example of a utility that doesn’t exist anywhere else. All in all, Sphynx provides more functionality to users than anything else that is available on the market today, and it is why Sphynx is the all-in-one cryptocurrency platform for the ages.
Media Contact:
Zaidoun ‘lonzo’ Alowbydi
[email protected]
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/103809
Blockchain
Glidelogic Corp. Announces Revolutionary AI-Generated Content Copyright Protection Solution
Blockchain
Ethereum ETFs Aren’t Blockchain But Is A Revolutionary Tech: Top 6 Amazing Reasons To Invest In Them
The financial landscape is rapidly evolving, with the integration of blockchain technology and cryptocurrencies becoming more prominent. Among these, Ethereum ETFs (Exchange-Traded Funds) have emerged as a significant investment vehicle, offering exposure to the Ethereum blockchain’s native cryptocurrency, Ether (ETH), without requiring direct ownership. However, it’s crucial to understand that Ethereum ETFs are distinct from the blockchain itself and serve different purposes in the investment world.
Understanding Ethereum and ETFs
Ethereum: A decentralized platform that enables the creation and execution of smart contracts and decentralized applications (dApps). It operates using its cryptocurrency, Ether (ETH), which fuels the network.
ETF (Exchange-Traded Fund): A type of investment fund that holds a collection of assets and is traded on stock exchanges. ETFs can include various asset classes, such as stocks, commodities, or bonds.
Ethereum ETFs: The Intersection of Traditional Finance and Cryptocurrency
An Ethereum ETF provides a way for investors to gain exposure to the price movements of Ether without directly purchasing the cryptocurrency. This is achieved through an ETF structure, where the fund holds assets linked to the value of Ether, and investors can buy shares of the ETF on traditional stock exchanges.
Key Features of Ethereum ETFs:
- Indirect Exposure: Investors gain exposure to Ether’s price changes without needing to manage or store the cryptocurrency themselves.
- Regulatory Compliance: Unlike the relatively unregulated cryptocurrency market, ETFs operate under the oversight of financial regulators, offering a layer of investor protection.
- Accessibility: Ethereum ETFs are available through traditional brokerage platforms, making them accessible to a broader range of investors.
Why Invest in an Ethereum ETF?
- Diversification: Including an Ethereum ETF in a portfolio can provide exposure to the cryptocurrency market, potentially enhancing diversification beyond traditional assets.
- Convenience and Familiarity: ETFs are a familiar investment product, simplifying the process of investing in cryptocurrencies.
- Professional Management: ETF managers handle the investment decisions, including the buying and selling of assets, which can be advantageous for those less familiar with the cryptocurrency space.
- Regulatory Oversight: ETFs are subject to regulatory scrutiny, potentially offering more safety and transparency compared to direct cryptocurrency investments.
- Potential for Growth: As the cryptocurrency market grows, ETFs linked to assets like Ether may benefit from rising prices.
Key Differences Between Ethereum and Ethereum ETFs
While both are related to the Ethereum blockchain, Ethereum itself and Ethereum ETFs represent different forms of investment:
- Ethereum (ETH):
- Direct ownership of the cryptocurrency.
- Full exposure to Ethereum’s features, including staking and network participation.
- Traded on cryptocurrency exchanges.
- Highly volatile and largely unregulated.
- Ethereum ETF:
- Indirect exposure through shares representing Ether’s value.
- Traded on traditional stock exchanges under regulatory oversight.
- Offers a more stable and familiar investment structure.
- Typically lower volatility compared to direct cryptocurrency ownership.
Future Considerations for Ethereum ETFs
The approval and launch of Ethereum ETFs mark a significant milestone in bringing cryptocurrencies closer to mainstream finance. They offer a convenient and regulated means for investors to gain exposure to the growing digital assets market. However, they also come with limitations, such as not allowing direct participation in the Ethereum ecosystem’s innovations, like dApps and smart contracts.
As the market evolves, we may see more sophisticated financial products that better capture the full potential of the Ethereum ecosystem. For now, Ethereum ETFs provide a balanced option for those interested in cryptocurrency exposure within the framework of traditional finance.
In conclusion, while Ethereum ETFs offer a gateway into the world of digital assets, they should be viewed as complementary to, rather than a replacement for, direct investment in the underlying blockchain technologies. Investors should carefully consider their investment goals, risk tolerance, and the unique attributes of both Ethereum and Ethereum ETFs when making investment decisions.
Source: blockchainmagazine.net
The post Ethereum ETFs Aren’t Blockchain But Is A Revolutionary Tech: Top 6 Amazing Reasons To Invest In Them appeared first on HIPTHER Alerts.
Nexo, a leading institution in the digital assets industry, has reinforced its commitment to data security by renewing its SOC 2 Type 2 audit and attaining a new SOC 3 Type 2 assessment without any exceptions. This rigorous audit process, conducted by A-LIGN, a respected independent auditor specializing in security compliance, confirms Nexo’s adherence to stringent Trust Service Criteria for Security and Confidentiality.
Key Achievements and Certifications
- SOC 2 and SOC 3 Compliance:
- SOC 2 Type 2: This audit evaluates and reports on the effectiveness of an organization’s controls over data security, particularly focusing on the confidentiality, integrity, and availability of systems and data.
- SOC 3 Type 2: This public-facing report provides a summary of SOC 2 findings, offering assurance to customers and stakeholders about the robustness of Nexo’s data security practices.
- Additional Trust Service Criteria:
- Nexo expanded the scope of these audits to include Confidentiality, showcasing a deep commitment to protecting user data.
- Security Certifications:
- The company also adheres to the CCSS Level 3 Cryptocurrency Security Standard, and holds ISO 27001, ISO 27017, and ISO 27018 certifications, awarded by RINA. These certifications are benchmarks for security management and data privacy.
- CSA STAR Level 1 Certification:
- This certification demonstrates Nexo’s adherence to best practices in cloud security, further solidifying its position as a trusted partner in the digital assets sector.
Impact on Customers and Industry Standards
Nexo’s rigorous approach to data protection and compliance sets a high standard in the digital assets industry. By achieving these certifications, Nexo provides its over 7 million users across more than 200 jurisdictions with confidence in the security of their data. These achievements not only emphasize the company’s dedication to maintaining top-tier security standards but also highlight its proactive stance in fostering trust and transparency in digital asset management.
Nexo’s Broader Mission
As a premier institution for digital assets, Nexo offers a comprehensive suite of services, including advanced trading solutions, liquidity aggregation, and tax-efficient credit lines backed by digital assets. Since its inception, the company has processed over $130 billion, showcasing its significant impact and reliability in the global market.
In summary, Nexo’s successful completion of SOC 2 and SOC 3 audits, along with its comprehensive suite of certifications, underscores its commitment to the highest standards of data security and operational integrity. This dedication positions Nexo as a leader in the digital assets space, offering unparalleled security and peace of mind to its users.
Source: blockchainreporter.net
The post Nexo Reaffirms Commitment to Data Protection with SOC 3 and SOC 2 Compliance appeared first on HIPTHER Alerts.
-
Blockchain4 days agoBinance Cleared to Invest Customer Assets in US Treasury Bills: What It Means for Crypto and Dollar Dominance
-
Blockchain4 days ago
Deep Custodian Limited Obtains Hong Kong TCSP License, Authorized to Provide Compliant Crypto Asset Custody Services
-
Blockchain2 days ago
Blockchain Intelligence Group adds additional modules and launches its Certified Cryptocurrency Investigator – Advanced Series
-
Blockchain Press Releases2 days agoBybit Web3 Livestream Explores Cultural Meme Coins and Other Trends
-
Blockchain3 days agoBitAngels Network Hosts Blockchain Pitch Competition in Nashville
-
Blockchain Press Releases2 days agoBybit Surges to Second Place in Derivatives Market, Solidifying Position as Global Crypto Trading Leader
-
Blockchain4 days agoCoinW Continues Expedition Trek And Double Down On Presence At ETH-Native Events
-
Blockchain1 day ago
Kevin O ‘Leary Addresses Crypto Investing, Ethereum ETFs, and SEC Chair in Recent Interview
