Category: Young Platform

You can now buy, sell and store Dogecoin (DOGE) on Young Platform!

What is Dogecoin?

The name of the coin is based on a well-known meme, namely the doge: a friendly shiba inu dog whose statements in comic sans are always sarcastic.

The creators are two software engineers: Billy Markus from IBM and Jackson Palmer from Adobe, who launched Dogecoin in 2013, as a satirical response to the hundreds of altcoins that were publishing whitepapers and calling themselves revolutionary.

7 years later it is among the top 10 cryptocurrencies on the market by capitalisation and has become the second most popular cryptocurrency in the world, thanks to its honorary godfather Elon Musk.

How does DOGE work?

Dogecoin is a simple means of exchange on the internet. As well as being used in social communities to trade without intermediaries between users and to support content creators, it is now accepted by more than 1,300 merchants.

The most famous of these are the Dallas Mavericks NBA team, the Kessler Collection hotel chain, AirBaltic and Post Oak Motor Cars, the first Rolls-Royce dealership.

Why has Young Platform decided to list it?

Dogecoin is now the 6th cryptocurrency on the market by marketcap and, despite its social media-driven volatility, is still on a positive trend, demonstrating that it can rely on a strong community.

Available pairs?

On Young Platform and Young Platform Pro you can buy and sell Dogecoin with the following pairs:

• DOGE/EUR
• DOGE/USDT

Want to know more?

Read our article about Dogecoin on the Young Academy!

Buy DOGE on Young Platform

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You can now buy, sell and store Polkadot (DOT) on Young Platform!

What is Polkadot?

Polkadot is not only a cryptocurrency, but first and foremost a next-generation blockchain. It was created as a “relay” blockchain that hosts “para-chains” in its network, i.e. other blockchains with specific use cases. It thus facilitates access to a wide range of blockchain-based services.

Not only does Polkadot succeed in connecting completely different projects on a technical level, but also facilitates intercommunication and, above all, does so in a scalable way.

How does the DOT coin work?

The role of the native Polkadot cryptocurrency (DOT) is key: you can stake DOT to receive rewards and participate in network governance. From $8.87 in January 2021, its value today is around $24, with an all-time-high at $48.68.

Why did Young decide to list it?

Polkadot is by far one of the most popular coins in the community this year and is currently ranked 9th for market capitalisation. And now Young Platform is the first Italian exchange to list this coin!

Available pairs?

Polkadot can be traded on both Young Platform and Young Platform Pro with the following pairs:

DOT/EUR
DOT/USDT

Want to know more?

Read our dedicated article on Young Academy!

Buy DOT on Young Platform

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Uniswap (UNI) is now available for purchase, sale and custody on Young Platform!

What is UniSwap?

UniSwap is the first successful Decentralised Exchange (DEX). UniSwap was created to facilitate decentralised trading.

How does the token work?

UNI is the governance token of UniSwap, launched two years after the birth of the exchange.
It allows to vote on decisions relating to the protocol or to delegate the vote. 

Why has Young decided to list it?

The UNI token, already on Young Platform Pro, lands on Young Platform too, by popular demand from the Young Community!

UNI has quickly climbed the market cap rankings to the top 10 and on Monday 3 May 2021 has reported an all time high, touching 45 dollars.

Want to learn more?

Don’t miss tomorrow’s in-depth look at UniSwap on the Young Academy!

Buy UNI on Young Platform

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Starting today SushiSwap (SUSHI) is available for custody, purchase and sale on Young Platform Pro.

What is SushiSwap?

SushiSwap is a Decentralised Exchange (DEX) governed by the community. If you provide liquidity to SushiSwap and you contribute to the protocol, you will receive part of the transaction fees paid by DEX users.

How does the token work?

SUSHI is an ERC20 token and it’s the SushiSwap governance token.
Not only that, by staking SUSHI you can receive periodic rewards.

Why has Young decided to list it?

The project is strongly focused on the community and it is the third DEX for total value deposited. Moreover, SushiSwap’s roadmap for 2021 includes never-seen-before features in DeFi.

Available pairs?

On Young Platform Pro you can trade the SUSHI-USDT pair.

Want to learn more?

Here’s an in-depth look at Sushi on the Young Academy!

Buy SUSHI on Young Platform Pro

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As of today, Maker (MKR) is available for purchase and sale on Young Platform Pro.

What is Maker (MKR)?

Maker (MKR) is the ERC-20 token of MakerDAO, a decentralised autonomous organisation providing decentralised financial services. MakerDAO is the same organisation that launched DAI, a popular decentralised stablecoin.

What is the difference between MKR and DAI?

If DAI is MakerDAO’s stablecoin, MKR is MakerDAO’s governance token.
This means that the price of DAI is pegged to the price of the dollar in a 1:1 ratio.
The price of MKR fluctuates according to market supply and demand.

Why has Young decided to list it?

MakerDAO is one of the earliest promising projects in the DeFi world, boasting two complementary coins, MKR and DAI, both among the top 50 in the market.
Not only that, its MKR governance token has grown by +395% in the last 6 months, peaking at $3,041 in February 2021.

Which pairs are available?

On Young Platform Pro you can trade MKR/USDT

Want to learn more?

Don’t miss tomorrow’s in-depth look at MKR on the Young Academy!

Buy YFI on Young Platform

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What is Yearn Finance (YFI)?

Yearn finance is an aggregator service that allows you to optimise yield farming through various DeFi lending platforms. Yield farming is a set of different strategies that, besides trading, allow you to generate rewards from holding cryptocurrencies. YFI token holders also have the right to participate in the governance of the project.

How does it work?

The peculiarity of the Yearn Finance protocol is that the reward you receive is automatically optimised. Deposited funds are moved to the best protocol, so that the rewards you receive are maximised.

Why has Young decided to list it?

In the growing success of DeFi, the Yearn Finance project ranks as one of the first and most successful cases of DeFi Yield farming.
At launch, the price of the YFI cryptocurrency was around $700. Today, eight months later, it has a value of $33,700, registering an ATH at $51,000 on 12th February.

What are the available pairs?

You can find YFI on Young Platform in these pairs:

•         YFI-EUR
•         YFI-BTC

Want to know more?

Wait for tomorrow’s article on Yearn Finance by the Young Academy!

 

What is AAVE?

Aave is a decentralised financial protocol that allows people to lend and borrow crypto. Lenders earn interest by depositing their cryptocurrencies, while borrowers have new liquidity that they can use as long as they put their cryptocurrencies up as collateral.

AAVE has several strengths that make it unique in the DeFi landscape. The project allows people to borrow and lend around 20 different cryptocurrencies, giving users much more choice. It created the first uncollateralised loans, known as “flash loans”, which allow professionals and developers to take advantage of certain market situations.

Also, unlike other lending projects, with Aave you can alternate between stable and variable interest rates. Variable rates can come in handy if the cryptocurrency borrower thinks prices will fall in the near future.

 

Available Pairs

You can find AAVE on Young Platform and Young Platform Pro with these pairs:

• AAVE-BTC
• AAVE-EUR

 

 

Buy AAVE on Young Platform

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Young Platform will distribute the Spark token to all Ripple holders in proportion to their XRP balance

Young will be supporting Flare Network’s Spark (FLR) token airdrop, so all Ripple (XRP) holders on Young Platform and Young Platform Pro exchanges will be able to claim the Spark token.

Spark Token Distribution

Young will distribute the Spark token (FLR) to all Ripple (XRP) holders on the Young Platform and Young Platform Pro Exchanges based on the snapshot of their Ripple XRP balances on 12 December 2020, 00:00 UTC (approximate time).

Deposit or buy Ripple (XRP) with your Young account before this date, to be eligible for the airdrop. Users will receive Spark tokens in proportion to their XRP balance.

The amount of distributed Spark tokens for each user holding XRP will be calculated based on the following formula:

User A = Amount of XRP held by User A at the time of snapshot / Total XRP held by Young at the time of snapshot * Total SPARK received by Young for the airdrop

Please note:

• Ripple (XRP) deposits, withdrawals and trading will be suspended starting from 11/12/2020 09:00 PM (CET).
• After this time, Ripple (XRP) that has not been deposited will not be included in the distribution calculation.
• The time of the snapshot and amount of distributed tokens may be adjusted according to changes on the Flare network.
• The distribution for Spark tokens is currently set for the first half of 2021, and this is subject to change at Flare’s discretion.
• Supporting this airdrop does not guarantee the listing of Spark on Young Platform and Young Platform Pro. The default position we have is no listing.

Thanks for your support!

The Young Team

Discover how Young Platform will act to reduce trading risks during the hard fork on 15 November 2020

Around 12:00 PM UTC on 15 November 2020 the Bitcoin Cash blockchain will be subjected to a hard fork.

This fork was a planned update, although it is contested by the implementation of the BCHA (Bitcoin Cash ABC) node which proposes a developer fee of 8% on the reward per block of miners. BCHN (Bitcoin Cash Node) will proceed with the proposed routine upgrade and will not support the block reward fee.

We do not believe this fork to be similar to the BCH 2017 fork or the BSV 2018 fork. This fork, on the contrary, does not seem to have the support needed to survive. At the time of writing this release, BCHN (Bitcoin Cash Node) – which will continue the current BCH consensus – has over 75% support from the miners.
By contrast, BCHA (Bitcoin Cash ABC), the instigator of the fork, has less than 1% support from the miners and about 24% is undecided so far.

We believe that most undecided miners will only follow the existing chain (BCHN) and that there is really no chance for BCHA to have a productive life or value. We hope that the BCHA team decides to call off the potential fork before it happens, but even if they do not, we see a very low chance of a surviving chain.

Young’s approach to fork management

To reduce trading risks caused by price volatility and to maintain the security of users’ funds during the hard fork, Young will manage the hard fork as follows:

• All transactions for BCH on Young Platform and Young Platform Pro will be suspended from 9pm on 14 November 2020. Withdrawal, deposit, purchase and sale operations involving Bitcoin Cash are therefore on hold.
• Should you wish to make a deposit and withdrawal operation at this time, we ask you to allow sufficient time for full processing of the transactions before the above time.
•  Transactions will be resumed on Young Platform and Young Platform Pro from 12 am (noon) on Monday 16 November 2020. Any updates will be communicated via e-mail and to the Discord server.

Discover COMP on Young Platform Pro, the altcoin in loan pools

Young is pleased to announce the listing of Compound (COMP), one of the emerging DeFi protocols.

What’s Compound?

Compound is a protocol based on the Ethereum blockchain that allows you to grant and subscribe loans without the need for a financial intermediary.

How do loans on Compound work?

Users can deposit their cryptocurrency in loan pools to allow access to borrowers. Once they have made the deposit they receive a reward in cToken. For example, if they deposit ETH they will receive cETH, if they deposit DAI they receive cDAI and so on.

What is COMP?

To encourage this lending activity, Compound uses another cryptocurrency native to the protocol known as COMP.

Each time users interact with the Compound market – i.e. take out, give or repay a loan – they receive a reward in COMP.