Bitcoin Cash

Youth Fashion Retail Chain Pacsun Now Accepts 11 Cryptocurrencies

07/10/2021 by Idelto Editor

On October 5, the youth fashion and retail brand Pacsun announced the company is now accepting cryptocurrencies via Bitpay’s payment services. Pacsun says the company has a youthful audience that is “very tech-oriented” and the firm has seen an “increasing desire towards cryptocurrency.”

Pacific Sunwear of California Goes Crypto

The American retail clothing brand, Pacific Sunwear of California, LLC, otherwise known as Pacsun, is now supporting crypto-asset acceptance. Founded in 1982, Pacsun has roughly 400 stores in all 50 states and in Puerto Rico.

The company has partnered with the crypto payments firm Bitpay and disclosed it will accept 11 different crypto assets including bitcoin (BTC), bitcoin cash (BCH), ethereum (ETH), wrapped bitcoin (WBTC), dogecoin (DOGE), and litecoin (LTC). Five different stablecoins pegged to the U.S. dollar will also be accepted by Pacsun.

“With digital sales doubling since last year, we understand the continued importance of creating an exceptional online shopping experience for our customers,” Brie Olson, the president of Pacsun said in a statement. “It’s incredible to pave the way for the fashion and retail industry, being the first to offer cryptocurrency payments through Bitpay, and we anticipate many other companies following suit considering the ease it brings to the checkout process.”

Pacsun ‘Sees an Increasing Desire Towards Cryptocurrency,’ Fashion Chain Believes It’s Critical to Keep With Lifestyle Trends

The announcement also notes that Pacsun believes it’s “just as critical” to keep up with the fashion trends as it is for them to keep up with lifestyle trends. The company has noticed these trends when they launched their new Pacsun Kids line of products alongside a collaboration with the ROBLOX metaverse. “Pacsun shares our goal to let everyone live life on crypto making them a natural addition to our growing list of top brands adopting cryptocurrency,” Stephen Pair, the co-founder and CEO of Bitpay remarked.

Pacsun co-CEO Michael Relich explained that Gen Z is the company’s primary consumer and the demographic is “very tech-oriented.” Relich said that the firm dedicates a lot of time and effort to “align with their lifestyles and resonate with them on a more personal level.” Pacsun has witnessed demand from the young generations who want to pay for goods and services using digital currencies.

“Seeing their increasing desire towards cryptocurrency, it was clear that we needed to adjust and offer Bitpay as another payment option, to further instill their confidence in us as one of their go-to retailers that truly listens,” Relich concluded.

What do you think about Pacsun accepting 11 different crypto assets via Bitpay? Let us know what you think about this subject in the comments section below.

Study Findings Show 83.7% of Luno Users Are Bullish on Bitcoin’s Resurgence

02/10/2021 by Idelto Editor

About 83.7% of those surveyed by Luno in a recent study believe the price of bitcoin will rise significantly in the next few months. In fact, 59.4% of the more bullish respondents are expecting the leading crypto to rise to as much as $100,000.

Bullish Beyond Bitcoin

These are the findings of Luno’s Q3 Customer Sentiment Survey that was conducted between August 20 and September 20. A total of 1,870 customers of Luno cryptocurrency exchange from South Africa, Malaysia, Indonesia, and the U.K. participated in the study.

Aside from bitcoin, study participants were also asked to share their thoughts about the prospects of altcoins like ETH, XRP and BCH. As the study findings suggest, many of the respondents across the four countries are similarly bullish on altcoins as well.

South Africans Less Bullish on ETH

However, it would appear that Luno customers in the U.K. and Malaysia are more bullish on such cryptos as ETH than their counterparts in South Africa. The exchange’s blog explains:

“While 64.5% of our South African users are most optimistic about bitcoin, ethereum is second at 55.4%, followed by XRP (28.6%), bitcoin cash (25.9%) and litecoin (17.8%). Meanwhile, although Malaysian and British customers both share strong enthusiasm for bitcoin, they’re most optimistic about ethereum. Nearly 70% of Malaysian customers are feeling optimism for ethereum, with 75% of investors in Great Britain sharing the same sentiment.”

Concerning customers’ understanding of cryptocurrencies as a long-term investment, the study found that 38% of respondents intend to hodl their investments. While 28% of the respondents do consider themselves day traders, the blog still concludes that “the idea of bitcoin as something you’re in the long haul for seems to have certainly taken root.”

What are your thoughts on the findings of this study? Tell us what you think in the comments section below.

Bitcoin.com Adorns it’s Crypto-Friendly Casino with New Games from NetEnt

13/09/2021 by Idelto Editor

Hot new games from two of the top providers added to Bitcoin.com’s very own crypto casino!

Anticipation has been running high among players at Bitcoin.com Games for their favorite games from the leading software provider, NetEnt. Coming off of the recent addition of a range of live casino games from Evolution Gaming and iSoftBet, the popular casino is now bringing some of the most entertaining titles from this iGaming developer that players have come to cherish over the years.

With in-demand slots like Dead or Alive 2 Feature Buy, Ghost Pirates and Narcos, as well as the space arcade styled slot Starburst and beautifully designed Gonzo’s quest, the newly added range of games from NetEnt promise a long and enjoyable gaming session enriched with bountiful of chances to win Bitcoin. Hundreds of paylines and thousands of multipliers await for players to spin the reels and open possibilities to take home a fortune.

Bitcoin.com Games is also home to their very own exclusive games that are only available for play on the turf of this homegrown casino from Bitcoin.com. From the most played slot game The Angry Banker, to the jackpot loaded Exclusive Slots, players can enjoy classic casino games in their ultimate forms on the most trustworthy crypto casino on the planet!

Bitcoin.com Games members can look forward to a highly premium gaming experience along with receiving curated VIP offers that carry generous rewards for all levels of players. An excellent 24/7 support staff also ensures a smooth and entertaining casino session.

Check out these newly added games from NetEnt now on Bitcoin.com Games!

Tether’s 1,500% Market Cap Increase in 500 Days — USDT Stablecoin Market Nears $70 Billion

10/09/2021 by Idelto Editor

The stablecoin giant tether is by far the largest dollar-pegged crypto asset in the crypto economy and today, the number of tethers in circulation is nearing $70 billion. 90 days ago on June 12, 2021, the number of tethers in circulation was around 63 billion tokens and the supply has swelled by 9.99% since then.

Circulating Tether Economy Nears $70 Billion, 1 Billion Tethers Minted on Solana

The largest stablecoin today, in terms of market valuation is tether (USDT) and on Friday, September 10, USDT’s market capitalization is $69.3 billion, according to the company’s transparency balance web page.

The number is similar to most crypto market aggregation web portals tallying up the value of each coin market. Below USDT’s market valuation is usd coin (USDC) with $29 billion and the Binance dollar-pegged token BUSD with $12.4 billion.

According to the USDT transparency page, the token is issued on several blockchains and in recent times the coin has been issued on Solana. The transparency page notes that tethers exist on Ethereum, EOS, Algorand, Liquid, Tron, Omni Layer, Bitcoin Cash, and Solana. Tether will reportedly reside on the Avalanche (AVAX) network as well.

$33.8 billion is authorized on Ethereum while Solana has $1.1 billion authorized to date. 90 days ago the USDT in circulation was around 63 billion and today there’s over 69.3 million tethers circulating throughout the crypto economy.

50% of Today’s Crypto Trades Are Swapped With Tether

Data from Coingecko’s stablecoin by market cap stats indicate that tether (USDT) exists on 392 exchanges worldwide. Cryptocompare.com metrics show that when paired against bitcoin (BTC), tether (USDT) represents 58.29% of all trades on Friday.

48.50% of ethereum (ETH) trades are swapped with tether and the stablecoin captures 62.03% of cardano’s (ADA) trading share. Aggregation websites show that out of the $160 billion in global crypto trades on Friday, tether commands $80.5 billion of that volume.

Other stablecoins that have seen notable issuance increases include terrausd (UST), trueusd (TUSD), neutrino usd (USDN), and frax (FRAX). Nothing has increased in circulation as much as tether has as USDT’s market cap on Friday, March 27, 2020 was just over $4.2 billion in value and 532 days in increased by 1,549.9%.

What do you think about tether’s market cap growth nearing $70 billion today? Let us know what you think about this subject in the comments section below.

Meet the First BCH Dex Built on Smartbch — Benswap.cash Presents High-Yield Liquidity Pools, Noncustodial Swaps

08/09/2021 by Idelto Editor

Decentralized finance (defi) has set a trend during the latter half of 2020 and into this year, as statistics show $168 billion is locked in defi across various blockchains. The Bitcoin Cash network now has the Smartbch protocol and in recent times, a decentralized exchange (dex) platform has joined the defi fray. The newly launched Smartbch dex platform benswap.cash gives users the ability to earn via liquidity pools, and swap tokens in a noncustodial fashion.

Bitcoin Cash Supporters Flock to Benswap.cash for 1,000% APY and Decentralized Trading

Five months ago, the BCH community anticipated the benefits of a project that combines the forces of Bitcoin Cash (BCH) with the Ethereum (ETH) network. The project is called Smartbch, a smart chain that maximizes the throughput of EVM and Web3 on a sidechain of Bitcoin Cash.

Smartbch has matured quite a bit since Bitcoin.com News reported on the project successfully launching three nodes. Now BCH community members have been leveraging a dex trading platform called benswap.cash, a clone of the dex benswap.finance.

Basically, the ability to earn yields and swap tokens in a noncustodial manner is now possible using bitcoin cash (BCH), the Smartbch sidechain, the SEP20 token protocol, and benswap.cash. The dex benswap.cash operates similarly to swapping platforms like Uniswap, Pancakeswap, and Sushiswap. In order to leverage benswap.cash you will need a wallet like Metamask to interact with the Smartbch network and connect with benswap.cash.

A Comprehensive Guide for Smartbch Newbies, Leveraging the Coinflex Bridge and the ‘Green Ben’ Token

In order to get started, there are a few prerequisites, which are explained in comprehensive detail in a guide posted to the blogging site read.cash. The Smartbch for newbies walkthrough written by “Moregainstrategies” shows the reader how to configure Metamask to work with the Smartbch network.

Furthermore, the blog post explains that for the time being, the only bridge to access sBCH is via the trading platform Coinflex. Because sBCH is required, anyone looking to test the network’s capabilities must swap bitcoin cash (BCH) for sBCH. The only cost a person will pay when swapping BCH over to the SEP20 token sBCH will be BCH network fees.

Coinflex only requires an email address to register, however, a person can also simply use Metamask and avoid registration. After the account is registered or tethered to a Metamask wallet, the user needs to deposit bitcoin cash (BCH) into the Coinflex wallet. After the funds have been confirmed, the user can withdraw but instead, they need to withdraw sBCH using the SEP20 standard.

The Metamask wallet address is the address needed to send the sBCH to, and after a small wait, the sBCH should arrive in the wallet. From here, benswap.cash can be used to either swap Smartbch tokens or join a yield farm in order to gather passive income from their liquidity tokens. For instance, on the benswap.cash platform there is a section where swaps can happen for Smartbch tokens like “$cats,” “arg,” “green ben,” “honk,” and more. The token green ben (EBEN) is the native token for benswap.cash and is also leveraged for governance decisions.

At the time of writing, a single green ben (EBEN) is trading for $2.4826019 per EBEN and there is a circulating supply of 5,723,529 EBEN today. The price per EBEN and the number of tokens in circulation give the coin a market cap of around $14.2 million. In addition to being able to swap tokens in a noncustodial fashion, users can stake LP tokens to earn EBEN via liquidity pools.

Current Smartcash Farms Show Yields Between 200% and 1,000%+ APY

The current annualized percentage yields (APY) for benswap.cash liquidity pools are quite high. For instance, the EBEN-BCH liquidity pool at the time of writing gives a user 1,070% paid in EBEN, minus fees. There’s also the $CATS-BCH and $CATS-EBEN liquidity pools which have current APYs between 210% and 290%. It should be noted that APYs hosted on benswap.cash can fluctuate like the myriad other dex applications that offer liquidity pools.

It should also be noted that benswap.cash is a clone of the BSC dex benswap.finance, which is in the midst of being audited by Certik Security. This means the audit is not yet complete; all dex applications come with risks, and users should leverage due diligence and make sure their wallet’s network settings and token contracts are not malicious or falsified. Audited or not, traders should never invest more than they are willing to lose on any dex application.

Bitcoin cash fans have been discussing the benswap.cash dex regularly on the forum r/btc and on Twitter. The r/btc Reddit forum has a number of posts that discuss how benswap.cash works and that it’s the first dex to build on top of the Bitcoin Cash (BCH) network.

What do you think about the Smartbch project and the benswap.cash dex? Let us know what you think about this subject in the comments section below.