South Korea Central Bank Fears, Digital Currencies Can Drain Banks.

CBDCs, which are recognized as state-backed or government-backed digital currencies, includes a blockchain-based version of a country’s fiat currency either replacing or circulating in aggregation with real currency.

South Korea’s central bank alarmed a warning for central bank digital currencies (CBDCs) a week after saying it would not come out with one itself. Reported in local news outlet Yonhap News Agency,                dated Feb 7.
Meanwhile South Korea formally decided against the measure in late January, A number of governments are currently examining the effect of using a CBDC.

The verdict came as a result of a six-month consultation process from Bank of Korea (BoK).

Now, the central bank has claimed in a report that a CBDC would result in large withdrawals of funds from private companies, increasing in the flow of money and rate of interest.

“The CBDC is a kind of a BOK-issued bank account. Trust of the people is in more than one commercial bank,” Kwon Oh-ik, as being the author he explained the report as:
“Demand deposits are one of the biggest sources of loans by banks. When people pull out their money, banks raise rates, or lower the reserve ratio, to secure more funds.”

Seoul does not want to make any changes to its stance on Cryptocurrency as a whole in past few weeks also, last month, lawmakers prohibited the ban on the initial coin offering. The report from the Bank of International Settlements states — A Switzerland based organization made up of 60 of the world’s central banks — last month, This year around 70 percent of central banks worldwide are researching on CBDC.

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Fundstrat Warns Clients, Bitcoin, Altcoins Are Susceptible to Crouch.

Cryptocurrency markets can soon prostrate and maintain the record of bear market, quoted by the investment and analysis firm Fundstrat Global Advisors warned on Feb. 6 through email.


Writing to traders, preassumption done on the basis of current performance one strategist at the firm, Robert Sluymer, summons, there was a chance Bitcoin (BTC) and Altcoin rate could dip further.


BTC/USD took a leap around 2.2 percent over the past week to trade at $3,370 as stated by press time Thursday, as many Altcoins have seen bigger drops. Sluymer said:
“The price structure for most cryptocurrencies remains weak and appears vulnerable to a pending breakdown to lower lows.”


“We are tired of people asking us about target prices,” Bloomberg quoted him as telling clients at the time, nonetheless adding he thought Bitcoin’s fair value should be worth $150,000.


Fundstrat known within the Cryptocurrency space for providing some of the more updates on the future of Bitcoin in particular. Enthusiasm appeared to wane in recent months, however, with popular senior Fundstrat strategist Tom Lee announced he would no longer make public predictions about BTC/USD in December 2018.


Belief in a broad market resurgence in 2019 remains sketchy among other major proponents. Prediction of $1 million made by John McAfee for 2019, Cryptocurrency Exchange Quoine’s CEO also told Cointelegraph believing that Bitcoin will breach its all-time highs of $20,000 within span of eleven months.

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New Funding Method by Credit Card to Crypto Traders has been launched by Trade.io

Trade.io has introduced a new funding method by Credit Card to Crypto Traders as it has made a partnership with Payment Processor Simplex. It will enable Clients to purchase a range of popular Cryptocurrencies by credit or debit card and will ease lot of other transactions.
To start with, they will the solution will support the purchase of Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), & Bitcoin Cash (BCH) with USD or EUR. Management of trade.io have also confirmed that more coins and currencies will be added for purchase at a later stage. This is really a great boost for the Crypto Market.


Trade.io’s client base can easily and conveniently invest or trade in Cryptocurrencies as this partnership with Simplex, a leading EU-licensed payment services provider, provides a regulated and secure framework


So by this, Trade.io is providing its support to investors of Financial Instruments

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