Hi CoinCompanion, good to have you back. In the previous Buzz, we reported that the market capitalization of crypto had reached a new high of 1 trillion dollar. At the time of writing, it is now 1.5 trillion dollar and rising! Also, Elon Musk continues to tweet about Dogecoin, but it didn’t stop there. Elon’s Tesla invested $ 1.5 billion in bitcoin. As a result, the bitcoin price shot up like a rocket and set a new record of € 48,318.48. Last year around the same time, the price was only at € 8,000. An increase of 603%. Ethereum also reached a new all time high of € 1,686.77. After Sunday the 21st, it was over for a while and a steep decline of 25% started impacting the price of bitcoin, which was also very noticeable in the altcoins. A healthy correction according to many. Michael J. Saylor, CEO of MicroStrategy, saw the benefit of the price decline and announced he would invest in bitcoin again, buying 19,452 bitcoins worth $ 1 billion ! At the time of writing, the price of bitcoin fluctuates between € 38,000.- and € 40,000.-.
Further in our Buzz of February, CoinCompare updates, monthly Throwback, overview of the crypto listings and delistings, the top 5 ups and downs and of course the recurring Best Deal provider of the month announcement!
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No updates! The registration of Knaken, BUX Crypto and Bitdenex are still ongoing. These providers may continue their operations as long as they continue to work towards a completed registration. How long the providers have is not clear.
Meanwhile, the ‘know your customer’ (KYC) policy based on the European Anti-Money Laundering Directive (AMLD5) and the Dutch Money Laundering and Terrorist Financing Prevention Act (Wwft) have been formulated and landed in crypto Netherlands. Almost all known providers were successfully registered in the DNB register before or on 21st of November. Recently SATOS also managed to register at the DNB. Below the list of providers registered to date:
Anycoin Direct 04-11-2020
BTC Direct 19-11-2020
Despite the fact that the regulation was unavoidable, the impact of the forced registration remains big and contradicts against the desire of innovation and freedom. CoinCompare is in favor of measures to combat crime, but not with proportional requirements that restrict freedom and privacy. A good article in line with this has recently been written by Bitonic. An article we agree with. Article can be found here.
At CoinCompare we like to indicate what we are working on and what developments and updates are coming up. We think it’s important to give you, as CoinCompanion, a glimpse into our kitchen, so that you know what is going on. Given the amount of work involved, we will continue to focus on the following for now:
A couple notable developments and happenings:
Listings, delistings, they come and they go. Likewise in February. The most noteworthy and unexpected was that Bitvavo expanded their crypto portfolio by a whopping 28! It was a move that was needed to take Bitvavo to new heights . The listings not only benefited Bitvavo, but also CoinCompare. Indeed, it provided more crypto prices to compare and thus more competition. In addition, it also enriched our CoinWall with new unique crypto. Will it stay only with these listings for now or will Bitvavo start adding more new crypto to their portfolio? Below the complete overview of which crypto’s have been added and removed at our largest providers:
|Bitladon: BakeryToken (BAKE), PancakeSwap (CAKE), Reef Finance (REEF), Venus (XVS)
||Knaken: Particl (PART), PCHAIN (PI), Jibrel Network (JNT)
|Coinmerce: BitCanna (BCNA), Ocean Protocol (OCEAN), Stacks (STX), Synthetix (SNX), The Graph (GRT)||Coinmerce: Lunyr (LUN), Tierion (TNT)|
|Bitvavo: Aave (AAVE), Augur (REP), Balancer (BAL), Band Protocol (BAND), Chiliz (CHZ), Compound (COMP), Decentraland (MANA), DFI.Money (YFII), Fetch (FET), Gnosis (GNO), iExec RLC (RLC), Kyber Network (KNC), Loom Network (LOOM), Maker (MKR), Numeraire (NMR), Orchid (OXT), Origin Protocol (OGN), Ren (REN), Reserve Rights (RSR), Storj (STORJ), Sushi (SUSHI), Swipe Token (SXP), Synthetix (SNX), Tellor (TRB), UMA (UMA), Uniswap (UNI), UTRUST (UTK), yearn.finance (YFI)||Bitvavo: –
|BLOX: –||BLOX: –|
|Anycoin Direct: –
||Anycoin Direct: –|
As of writing the total amount of unique and price comparable crypto, per the largest provider, are as following in compare to previous month:
Bitladon 225 (+4)
Knaken 175 (-3)
Coinmerce 148 (+3)
Bitvavo 89 (+28)
LiteBit 52 (–) Wallet maintenance ongoing. Among them are Monero, NEM and Zcash. Full article here.
Coinbase 42 (–)
BLOX 30 (–)
Anycoin Direct 20 (–)
CoinCompare 188 (+5)
CoinWall 330 (+5)
We started February with 183 crypto’s where we compare the prices of. Mainly due to Bitvavo’s listings, the number of crypto on our unique one page price comparison overview has increased by +5 to 188. At CoinWall, where all offered crypto’s of our providers are shown, we now support 330 crypto’s to choose from.
Now that bitcoin seems to be cooling down, it’s the altcoins turn to rise. Dogecoin (DOGE) is no longer in the top 5, underwent a small decline of 0.57%, but still managed to set a new all time high of € 0.07048. Ravencoin (RVN) has spread its wings and reached an all time high of € 0.23 by rising 438.94% in February. And this while the crypto was worth only 1 cent in early February. In the top 5 on 5 shows the known Binance Coin (BNB) from crypto exchange Binance. The rise is not entirely unexpected due to the introduction of Binance’s own smart chain (BSC) on which projects can be launched. BSC serves as an alternative to Ethereum, given that Ethereum suffers from high transaction costs. To be able to buy the crypto of these new projects you need BNB, and because of the hype for these projects BNB was bought massively, causing a huge price increase. BNB reached a new all time high of € 284.03 and was even ranked 3rd based on market capitalization. After a few days, the price fell back a little and is currently around € 180.-.
Hereby the complete overview of the top 5 biggest ups and downs:
|+511.35% GAS (GAS)||-56.10% BakeryToken (BAKE)|
|+463.06% Polygon (MATIC)||-46.63% PancakeSwap (CAKE)|
|+438.94% Ravencoin (RVN)||-38.78% HedgeTrade (HEDG)|
|+394.55% Dent (DENT)||-33.72% DFI.Money (YFII)|
|+384.02% Binance Coin (BNB)||-29.44% Tellor (TRB)|
Throughout the month, 13 providers with 188 price comparable crypto’s and 376 buying and selling prices have been monitored to conclude who is going home with the gold medal. Here are the Best Deal providers of the month February:
Bitladon! In addition besides adding four new crypto, whose prices are not comparable, Bitladon came out with unexpected news in February. In the July 2020 Buzz, we mentioned that Bitladon lowered their trading fee from 2% to 1.5%. A good move, but at the time it was still too high to compete in top 3. This came to an end in February. On February 8, they announced (NL) that they again lowered their trading free. This time from 1.5% to 1%! The commission or also called transaction costs or fee, is effective immediately for any user with level VIP 1. If you trade for € 500.- in volume within 30 days, you will be promoted to level VIP 2 and the fee shall be lowered by 0.10% to 0.90%. VIP 10 is the highest level at which a fee of 0.10% can be obtained. Lowering the fee makes a directly visible difference on the prices and on determining the Best Deal provider. Only not yet in the Top 3. The difference is mainly with the number 4 BLOX and the number 5 Knaken who have handed in considerably in favor of Bitladon. In February, Bitladon registered 84 hits with a share of 22.34%. An increase of 4.31% and thus remaining at spot 3.
Bitvavo! The silence has been broken. And how! Bitvavo added no less than 28 crypto’s to their portfolio in February. Four of these are unique and therefore not competitive, as other providers do not offer these crypto’s. So, will Bitvavo be having the best deals for the remaining 24 as these are comparable? The new crypto’s were added in mid-February, which means that the snapshots of these crypto’s were taken 50% without Bitvavo and 50% with Bitvavo. This results in them remaining on spot 2 with 97 hits and a share of 25.79%. Small drop of 1.53% in compare to previous month. We are curious to see what the registration of hits for March will look like.
Read our extensive review about Bitvavo here, to find out all the ins and outs of the exchange from Amsterdam.
Coinmerce! Coinmerce hasn’t shared much exciting, aside from a few listings and delistings. Yet one of those listings is worth mentioning, namely, BitCanna. BitCanna is a proof of stake (POS), decentralized payment network with a utility token (BCNA). BitCanna was developed exclusively for the marijuana industry which is struggling with antiquated legislation and therefore limited payment options for customers and businesses. BitCanna strives to legitimize this developing industry and to that end offers unbiased secure transactions through desktop and mobile. Coinmerce offers BitCanna’s token BCNA for sale only. Selling is therefore not possible!
Coinmerce remains at 1 and retains gold in February with 159 hits and a share of 42.28% . An increase of a whopping 2.67% compared to January.
Read our extensive review about Coinmerce here, to find out all the ins and outs of the broker from Amstelveen.
The best deal provider of the month is determined independently with the average of cumulating snapshots of buy and sell prices of all the best deals that are shown on our comparison page. Logically, the larger the variety of crypto offered, the most chance of becoming the winner. Yet, in the end it is still the price of the crypto that matters as it has to be comparable and shown as best deal. Discounts in Tiers and VIP levels are not included in the calculation. As deals change several times a day, due to the volatility of prices, the provider with the best deal can therefore change as well. Due to that fluctuation we take two snapshots per day to determine the best deal provider, with the most hits on our price comparison page, for that day.
By Jeroen Modified 05/04/2021