Crypto Happenings to Catch up this Week! Feb 24 – Mar 01, 2020

⚡️ Let’s get a glimpse of a few things in last week’s crypto market. 👉🏻 With Bitcoin Halving nearing, manufacturer giants Bitmain & MicroBT are racing to build powerful mining equipment. Another interesting story is that Revolut will land with an array of cryptos in 50 U.S. states😎.

1. Crypto Fintech Revolut Will Make Crypto Available in the U.S.

Revolut, one of the biggest fintech with headquarters in Europe, will make crypto available for 50 U.S. States. Before the tax day, Revolut will be available in smartphones with the most popular cryptocurrencies. To be precise, Revolut is a neobank (a bank without the expense and physical branches or licensing).

Revolut is already well-established in Europe, where it allows users to buy and sell Bitcoin, Ethereum, Litecoin, Bitcoin Cash, and Ripple for one of the 29 fiat currencies. Revolut plans to offer the same service to its customers in all the 50 U.S. states.

Dan Westgarth, North America’s General Manager, said in a meeting with Cointelegraph, “Our investors like crypto, they don’t mind the risk as long as it is well-managed, and we are good at it.”

Dan also stated that “It’s easy to buy stocks or bonds, even cryptocurrency, but for an unsophisticated investor to gain exposure to commodities is almost impossible. So, if there was a token pegged to diamonds or gold, this could be very appealing.”

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2. Australian Judge Gibson Says Crypto Is a Safe Investment 

As part of a slander case in front of the New South Wales (NSW) district court, Senior Judge Judith Gibson permitted the use of cryptocurrencies as collateral.

According to a brief from the Australian Associated Press, Gibson said, “This is a recognized form of investment,” also acknowledging the volatility of cryptos.

The NSW court stated that the accusing party must pay AUD 20,000 in a bank account guarded by the courts. In case the accusing party loses or withdraws, the funds would pay for the defendant’s legal fees. The court said, “Instead of a bank account, the accusing party can use their cryptocurrency exchange account.”

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3. Crypto Miners Begin their Race Ahead of Bitcoin Halving

Two manufacturing giants involved in producing bitcoin mining equipment are in a race to build super-powerful machines ahead of bitcoin halving.

Beijing-based mining company Bitmain launched its advanced AntMiner S19 and S19 Pro models last Thursday. The company boasts that the computing power of the two machines is as high as 110 terahashes per second (TH/s) and energy consumption of 29.5 watts per terahash (W/T).

Considering the specifications, these two models will be the most profitable bitcoin mining devices to date, followed by the WhatsMiner M30S from MicroBT, Bitmain’s rival.

The launch comes due to a heated battle between Bitmain and MicroBT. The latter has gained a major share of the mining equipment business after selling nearly 600,000 units of its M20 series in 2019.

According to Pangolin Miner, MicroBT’s major distributor, the M30S are priced at $2,430 and has a computing power of 86 terahashes/second with an energy cost of 38 W/T. It uses 8-nanometer chips supplied by Samsung.

The firm said some devices would be ready to be shipped from March, but massive pre-bookings will have to wait until June.

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