In a dynamic move, Coinbase has opted to invest in Circle, the issuer behind the USD Coin (USDC). This strategic collaboration creates a closer relationship between the two influential players in the crypto world. The Centre Consortium, which governed USDC, will shut down due to increased regulatory clarity on stablecoins. Meanwhile, Bitcoin Spark continues to profit with its self-sustainable revenue sources.
What is USDC?
USD Coin (USDC) is a cryptocurrency developed by Centre, a nonprofit organization formed by Coinbase and Circle. USDC’s purpose is to match the value of the U.S. dollar and act as a stable asset in the volatile crypto world. It maintains a value close to $1, making it reliable when cryptocurrencies experience price changes. USDC is a stablecoin tied to the U.S. dollar’s value, so each USDC aims to stay worth around $1. USDC allows you to convert the U.S. dollar into a token and is used on various blockchains, exchanges, and transactions. You can also convert USDC tokens back into USD. This stablecoin plays a significant role in the crypto world, especially in decentralized finance (DeFi) and other financial activities. USDC faced a challenge when Silicon Valley Bank collapsed, affecting its peg, but regained stability after regulatory intervention.
Is Coinbase safe?
Coinbase is a secure cryptocurrency exchange trading under COIN on the Nasdaq stock market. It has millions of users worldwide, making it a reliable choice for experienced and novice traders. Coinbase claims it insures customer deposits, but not with FDIC or SIPC insurance. They deploy many security measures to protect funds from theft and hacking, including 2-factor authentication, biometrics, and passwords.
They hold customer balances in custodial accounts, money market funds, or U.S. Treasuries. Users can apply hardware storage for added security.
However, some users have had issues with customer support with the Better Business Bureau giving Coinbase a D- rating for not addressing many complaints. This rating considers factors like business history, customer complaints, licensing, and government regulatory actions.
Coinbase has faced a class action lawsuit for securities law violations and customer complaints. It is currently facing an SEC lawsuit for listing unregistered securities.
Bitcoin Spark (BTCS): Self-sustained Profitability
Bitcoin Spark addresses crypto challenges by introducing innovative features to enhance decentralization, usability, and revenue generation within the blockchain ecosystem. BTCS implements a Proof-of-Process (PoP) concept to revolutionize energy consumption and high computational power. The PoP concept opens doors for more individuals to participate in the network by offering affordable tokens during ICO and renting processing power for mining.
BTCS offers revenue-generating services like CPU rental and advertising, expanding the rewards for participating in the network and promoting adoption. Its tokenomics facilitate a longer distribution of mining rewards due to supplementary revenue from network services.
The BTCS network deploys a robust Bitcoin Spark application, a user-friendly interface for mining and rewards distribution. It adopts an inclusive mining approach, enabling anyone to mine and contribute processing power to the network, promoting decentralization.
BTCS offers an ICO opportunity for early investors to participate in its growth, with a $2.00 price per token and a 12% bonus for early adopters. With this affordable pricing, investors can imagine the early Bitcoin days when it was going at $1.
