Digest: Positive Signals for the Crypto Market |

Digest: Positive Signals for the Crypto Market

In October, there was a positive trend in the cryptocurrency market – Bitcoin has increased by 30% (the uptrend continues with minor corrections), pulling up other cryptocurrencies. In addition, the positive dynamics remain in the news trends – crypto users get more opportunities for development.

India lifts ban on cryptocurrencies 

Representatives of the Ministry of Finance of India are planning to consider a bill regulating cryptocurrencies. Conducting transactions with cryptocurrencies can become legal if it does not contradict the laws. In addition to the good news, the cryptocurrency ban bill issued in 2018 has been canceled

If the regulation bill is successfully passed, many investors will see the green light for cryptocurrency activities, while the EDC Blockchain community could expand with new users from India who find EDC developments in demand. As statistics show, about 15 million Indians have invested in cryptocurrencies within the non-regulatory framework. 

Crypto mining brings the economy of Kazakhstan $225 million annually 

And we are only talking about companies that are officially involved in mining activities. Most likely, this figure is 2 times higher if we take into account the activities of “shadow” miners. 

According to a study by the University of Cambridge, in the fall of this year, Kazakhstan rose to become the world’s second-largest player in the mining industry after the US. Despite the fact that mining contributes to the growth of the country's economy, it is assumed that there may be a shortage of electricity, as one mining object consumes the same amount of electricity monthly as 24,000 apartments. The authorities also decided to increase the electricity tariff for miners in 2022. 

The negative impact of mining on the environment is another emerging problem. Only the level of energy consumption of Bitcoin mining all over the world is comparable to the level of electricity consumption in Kazakhstan. EDC Blockchain supports sustainable development, allowing new coins to be mined through staking without harming the environment. 

Mastercard integrates cryptocurrency 

The Mastercard payment system decides to launch its own crypto service for entrepreneurs and starts a partnership with the Bakkt crypto company, through which crypto payments will be made. Service users will be able to introduce into their businesses the possibility of payments with cryptocurrencies and fiat money and use cryptocurrencies in loyalty programs. 

The EDC bonus coin can be easily integrated into an existing business, the advantage of which is instant transactions with no additional fees. For entrepreneurs, EDC Blockchain provides special tools that simplify your work. You can find out about this in the previous article

Walmart sells crypto

Walmart has installed 200 Coinstar BTMs in its stores and plans to expand their number to 8,000. Customers will be able to purchase a bitcoin voucher for cash or exchange bitcoins for cash. In order to receive the purchased bitcoins, the buyer needs to register their voucher on the Coinme platform, which is a partner of Walmart. 

All users of crypto BTMs need to pay a commission of 4% for purchasing and 7% for selling, which is one of the highest fees in the crypto world. Nevertheless, demand creates supply. 

In comparison, fees on the EDC Blockchain platform can be zero if certain conditions are met. 

As famous financier Anthony Scaramucci said, "Anyone who studies cryptocurrency ends up investing in it." 

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EDC Blockchain never calls for investment activity. The materials presented on the site are for informational purposes only.