Posted on

Follow the price of Tether (USDT) on Young Platform

price of tether usdt

Thanks to its peg to the dollar, the price of Tether combines the stability of fiat currencies with blockchain technology. Discover how it works.

What is Tether (USDT)?

Tether (USDT) is a stablecoin, a cryptocurrency whose value replicates that of a fiat currency (such as the dollar or euro) or commodities like gold. The project’s name is derived from the English verb “to tether,” meaning “to tie.” Tether’s price is tied to the US dollar. Today, Tether is issued by Tether Ltd, a company based in Hong Kong.

Launched officially in 2014 under the name “Realcoin,” the project has its roots in Mastercoin, the first ICO ever developed. Tether was created by Brock Pierce, Craig Sellars, and Reeve Collins, the founders of Mastercoin. These three entrepreneurs are now well-known figures in the crypto universe. The USDT token was initially exclusively based on the Bitcoin blockchain via the Omni Layer Protocol. Over the years, due to Tether’s success within the Web3 community, the number of blockchains supporting USDT has expanded to include Ethereum, Algorand, and Solana. Soon, USDT will also be supported on the Polkadot blockchain.

What is USDT?

USDT is the token issued by Tether Ltd and is a multichain cryptocurrency, meaning multiple blockchains support it. As a stablecoin, USDT’s value was initially pegged to the dollar (USD): one unit of USDT equals 1 USD (following a 1:1 ratio). The issuance of USDT is backed by large reserves of fiat currencies, which aim to ensure the dollar peg and stability.

Why follow the price of Tether?

Tether is a stablecoin that plays a crucial role in decentralised finance (DeFi): the USDT token is used in numerous DeFi protocols (such as Aave, Solana, or UniSwap). USDT is used to transfer money and make payments worldwide and is currently one of the most widely used stablecoins. Tether (USDT) is one of the highest market capitalisation stablecoins along with USD Coin.

Additional information

USDT in the context of MiCA

The entry into force of European Regulation No. 2023/1114 of 31 May 2023, relating to Markets in Crypto-assets (MiCA), marked a fundamental milestone for stablecoins and the digital asset market across the entire European Economic Area (EEA). The first block of the regulation came into effect on 30 June 2024, significantly impacting stablecoins. MiCA defines stablecoins into two main categories: Asset-Referenced Tokens (ART) and E-money Tokens (EMT), for which specific requirements are outlined in Articles 16 and 48 of the regulation. Additionally, on 25 June 2024, the Italian government approved a Legislative Decree to align the national regulatory framework with the MiCA Regulation, ensuring coordination with the existing sector regulations in Italy, particularly the TUB and the TUF.

Disclaimer

This marketing communication is issued by Young Platform S.p.a., an authorised cryptocurrency exchange and a registered digital asset service provider in France (Prestataire de Services sur Actifs Numériques – Autorité des Marchés Financiers) and in Italy (Operatore Valute Virtuali (PSV1) – Organismo Agenti e Mediatori).

Young Platform S.p.a. is not responsible for such content nor for any errors contained within it or actions taken in relation to it. The content of the news and third-party reviews or opinions is provided for informational purposes only and should not be considered investment advice. This information does not constitute a recommendation to purchase or sell a particular digital asset or an investment strategy. Young Platform S.p.a. makes no warranties as to the accuracy, suitability, or validity of the information provided or any particular asset. Prices are provided for illustrative purposes only and may vary. The data presented may reflect assets traded on the Young Platform S.p.a. platform and on selected other cryptocurrency exchange platforms.

Posted on

Bitcoin Cash (BCH) is now available on Young Platform

Young Platform list Bitcoin Cash, the cryptocurrency that allows lower fees thanks to multiple transition in a block

Young is pleased to announce that starting today you’ll be able to purchase and sell Bitcoin Cash (BCH) one of the main cryptocurrencies on the market, on the Young Platform exchange.

Bitcoin Cash was launched on August 1st, 2017, the brainchild of the well-known Bitcoin community member: Roger Ver. A number of Bitcoin miners, led by Ver, proposed to increase the block size to 8MB so that more transactions could be included in each block. However, not the whole community accepted this proposal and a hard fork occurred. Currently, BCH is the sixth cryptocurrency, with a capitalisation of over 4.5 billion Euros.

Why did Young Platform decide to list Bitcoin Cash (BCH)?

Since it is one of the main cryptocurrencies, Young’s community strongly wanted this new coin: that’s why from today Bitcoin Cash (BCH) is finally available on our platform!

How much is 1 Bitcoin Cash (BCH) worth?

Currently, 1 Bitcoin Cash (BCH) is €250.00.

What is the total number of Bitcoin Cash (BCH) on the market?

There are currently 18,500,000 BCH on the market. As for Bitcoin, the maximum number of BCH that will be issued is 21 million.

What is the maximum value reached by Bitcoin Cash (BCH)?

On December 20, 2017 Bitcoin Cash (BCH) reached its all-time high of 3645 Euro.

Which Bitcoin Cash pairs will be available on Young Platform?

BCH/EUR

BCH/BTC

What are the fees for BCH?

Trading fees for BCH range from 2.5% to 1.35%:

Euro – BCH: 2.5%

Bitcoin – BCH: 1.35%.

The story of Bitcoin Cash: its founder

Roger Ver is a famous investor and one of the first Bitcoin adopters. He has invested millions of dollars in several emerging startups operating in the cryptocurrency world, including Ripple, Z.Cash, Blockchain.com, Bitpay, Purse.io and Kraken. He is also the CEO of Bitcoin.com and one of the five founders of the Bitcoin Foundation, to which he has also donated more than $1 million in Bitcoin. Ver sees Bitcoin as a way to achieve economic freedom. In the crypto community, he is also known as Bitcoin Jesus.

Ver has described Bitcoin Cash as the “real Bitcoin“, stating that in the near future the cryptocurrency will have a market capitalisation, trading volume and a larger user base than its big brother. It also appears that most of Ver’s funds are now in Bitcoin Cash, perhaps the most important indicator of his confidence in this currency.

The main features of Bitcoin Cash

 With Bitcoin cash we are in the presence of a cryptocurrency based on four key features

  • Decentralisation: the network is fully distributed
  • Peer-to-Peer: you can send Bitcoin Cash directly from A to B without intermediaries
  • Security: it uses sophisticated encryption systems to prevent hacking, fraud and attacks
  • Transparency: all transactions are available on the Bitcoin Cash blockchain, accessible and verifiable by everyone

For its supporters, Bitcoin Cash is a more convenient cryptocurrency than traditional Bitcoin: since blocks go from 1 to 8 Mb, Bitcoin Cash allows you to process many more transactions in a block. As a result, larger transaction volumes can be processed faster with lower fees. Plus, because the level of difficulty inherent in Bitcoin Cash’s mining activities varies depending on how many miners are active on the network, many of which have migrated to Bitcoin Cash, this allows them to generate higher profits at a faster pace.

50% discount on fees for BCH!

To celebrate the listing of Bitcoin Cash, Young decided to halve the fees to buy and sell BCH!

Posted on

Follow the price of Dai (DAI)

price of DAI

Young Platform’s exchange is expanding and welcoming stablecoins, the cryptocurrencies that aim to defeat market volatility. Now, the turn of Dai, Maker’s stablecoin, reflects the US dollar price.

What is MakerDAO?

The Dai stablecoin was developed and launched in 2017 by MakerDAO, one of DeFi’s longest-running and most popular projects on Ethereum. In line with the DeFi philosophy, the Maker project is managed decentralised via a decentralised autonomous organisation (DAO) and is, therefore, governed by its community. MakerDAO has developed its own token, Maker (MKR), and DAI, its stablecoin pegged to the dollar price.

What is DAI?

DAI is one of the first decentralised stablecoins in the crypto landscape. It replicates the value of the dollar in a 1:1 ratio. DAI maintains its peg to the dollar through a pool of cryptocurrencies, mainly ETH, USDC and WBTC. Unlike centralised stablecoins such as USDC, it does not use fiat currencies as collateral. DAI is designed to provide rapid access to decentralised financial services like lending.

Why follow the price of Dai (DAI)?

DAI is a fully decentralised stablecoin, which implies transparent project management. Decisions regarding the stablecoin are, in fact, taken collectively by the entire community through on-chain voting systems. DAI also ranks among the top stablecoins in terms of market cap. Thanks to its relative stability and retention of the dollar peg, it has, over time, become a popular stablecoin, chosen by many as an alternative to the volatile market.

Price of DAI July 2024: € 0,9314

Want to know more?

Dai in the context of MiCA

The European Regulation No. 2023/1114 entry into force of 31 May 2023, concerning the Markets in Crypto-Assets (MiCA), marked a significant milestone for stablecoins and the digital asset market throughout the European Economic Area (EEA). A first block of the regulation came into effect on 30 June 2024, significantly impacting stablecoins. MiCA defines stablecoins in two main categories: ART (Asset-Referenced Tokens) and EMT (E-money Tokens), for which specific requirements are provided in articles 16 and 48 of the regulation. Furthermore, on 25 June 2024, the Italian government approved a Legislative Decree to adapt the national regulatory framework to the MiCA Regulation, ensuring coordination with existing sector provisions in Italy, particularly with the TUB and TUF.

Disclaimer

This marketing communication is issued by Young Platform S.p.A., an authorised cryptocurrency exchange and a registered digital asset service provider in France (Prestataire de Services sur Actifs Numériques —Autorité des Marchés Financiers) and Italy (Operatore Valute Virtuali (PSV1)—Organismo Agenti e Mediatori).

Young Platform S.p.A. is not responsible for such content or any errors present in the content or actions taken. The news content and third-party reviews or opinions are provided for informational purposes only and should not be considered investment advice. This information does not constitute a recommendation to buy or sell a specific digital asset or for an investment strategy. Young Platform S.p.A. makes no warranty regarding the accuracy, suitability, or validity of the information provided or a specific asset. Prices are indicated for illustrative purposes only and may vary. The data presented here may reflect assets traded on the Young Platform S.p.A. platform and other selected cryptocurrency exchange platforms.

Posted on

Young announces the new partnership with MakerDAO!

Dai in Young Platform exchange: the most adoptded decentralized stablecoin in the cryptocurrency market

We are thrilled to have the opportunity to cooperate with MakerDAO to push comprehension and mass adoption of DeFi: we will educate the Italian audience about Maker’s stablecoin Dai through Young Academy and Stepdrop. Later on, we are also planning the integration of Dai in the Young ecosystem.

MakerDAO is one of the most innovative projects in the Decentralized Finance (DeFi) movement – a catch-all term for financial tools and services that don’t rely on centralized parties to coordinate and control access.

MakerDAO issues Dai, the world’s first unbiased currency and leading decentralized stablecoin on the Ethereum blockchain. Dai eliminates volatility through an autonomous system of smart contracts specifically designed to respond to market dynamics. Since its launch in 2017, Dai has successfully maintained a soft peg to the US Dollar (1 DAI ≃ 1$).

Price volatility is a major barrier for a massive amount of “everyday” users to continuously use blockchain applications. With a presence on numerous cryptocurrency exchanges, multiple partnerships with global companies, and agreements with organizations serving non-government agencies, Dai is right now the main and most adopted decentralized stablecoin on the market to solve this pain point and can therefore open the way to new scenarios.

We are very excited to start our journey in DeFi together with Maker since we believe DeFi has become one of the main trends in the crypto space with its huge potential of democratizing the financial system.

Posted on

Stellar (XLM) lands on Young Platform

Stellar (XLM) available on Young Platform

XLM is Stellar’s crypto, the borderless payment network. It is available on the Young Platform exchange

Among the cryptocurrencies available for buying and selling on Young Platform is Stellar’s Lumen (XLM). Discover the features and use cases of one of the first altcoins after Bitcoin!

What is Stellar?

Stellar is a blockchain conceived in 2014 by Jed McCaleb, the founder of Ripple. It is led by the non-profit Stellar Development Foundation. From its inception, Stellar set out to improve the payment system that Bitcoin already offered. Today, this blockchain dedicated to payments and money transfers is distinguished by its noble vision to provide financial inclusion and to make the crypto world more green, ethical and sustainable. As of July 2022, Stellar reached 7 million accounts and processes billions of transactions annually.

What is Lumen (XLM)?

Lumen, also known as XLM, is Stellar’s cryptocurrency. What is XLM used for within Stellar’s network? Lumen is mainly used to pay commissions for transactions on the network. Commissions on Stellar are really cheap, they are set at 0.00001 XLM. Lumen is also indispensable to be able to use Stellar’s payment network. In order to access payment services, it is in fact necessary to possess a small amount of Lumen, i.e. a minimum of 1 XLM. These low economic access thresholds reflect the Stellar Development Foundation’s intention to make digital finance accessible to all.

Why did we choose XLM?

XLM is one of the very first altcoins, launched just before Ethereum. Stellar is one of the most established projects in the crypto landscape and it is fulfilling its mission of building a more fair economic system by connecting financial systems around the world. All through a platform that allows money to be transferred quickly, reliably and at minimal cost. In 2022, Stellar also started to open up to DeFi, announcing the development of native smart contracts.

Which pairs are available for XLM?

  • XLM/EUR
  • XLM/BTC

Want to know more?

Read the Academy article dedicated to Stellar, as well as the one about Denelle Dixon, director of the Stellar Development Foundation!

Posted on

Follow the price of Pax Gold on Young Platform

price of Pax Gold (PAXG)

PAX Gold (PAXG) is the first regulated token pegged to the price of gold. PAX Gold enables direct investment in gold without the complications associated with physical gold and with all the benefits of being a token.

PAX Gold is an ERC-20 token built on the Ethereum blockchain. It is the inaugural cryptocurrency asset exchangeable for physical gold and has been approved by the NYDFS (New York State Department of Financial Services). The NYDFS has recognized PAXG as “the first gold-backed virtual currency in New York State.” Each PAXG token is backed by one troy ounce of pure gold from a 400 oz London Good Delivery bar, secured in professional Brink vaults. Ownership of the PAXG token equates to ownership of the represented gold, with the added convenience of moving and storing them like any other token, streamlining the process compared to owning physical gold (which necessitates storage and is not easily tradeable).

Users can convert tokens to and from fiat currency (Euro) or redeem them for physical gold bars. Token holders can verify the serial number, brand code, gross weight, fineness, and net weight of their bars, ensuring transparency within the project.

How much is 1 PAXG worth? 

PAXG mirrors the value of gold. Currently, 1 PAXG = 2178.77

Additional Information on Pax Gold

For those who want to learn more, please visit the official website of Pax Gold.

Official Website: PAX Gold (PAXG)

Documentation:PAXG Documentation

Whitepaper: PAXG Whitepaper

Further Reading: Academy – Pax Gold: the gold-backed cryptocurrency 

Contacts: Help Centre: PAXOS Contact

Phone Number: (855) 880 5275 

Regulatory Authority (NY): New York State Department of Financial Services, One State Street, New York, NY 10004-1511, 1-800-342-3736 

Law Enforcement: [email protected]

PAXG in the context of MiCA

The entry into force of European Regulation No. 2023/1114 of 31 May 2023, relating to Markets in Crypto-assets (MiCA), marked a fundamental milestone for stablecoins and the digital asset market across the entire European Economic Area (EEA). The first block of the regulation came into effect on 30 June 2024, significantly impacting stablecoins. MiCA defines stablecoins into two main categories: Asset-Referenced Tokens (ART) and E-money Tokens (EMT), for which specific requirements are outlined in Articles 16 and 48 of the regulation. Additionally, on 25 June 2024, the Italian government approved a Legislative Decree to align the national regulatory framework with the MiCA Regulation, ensuring coordination with the existing sector regulations in Italy, particularly the TUB and the TUF.

Disclaimer

This marketing communication is issued by Young Platform S.p.a., an authorised cryptocurrency exchange and a registered digital asset service provider in France (Prestataire de Services sur Actifs Numériques – Autorité des Marchés Financiers) and in Italy (Operatore Valute Virtuali (PSV1) – Organismo Agenti e Mediatori).

Young Platform S.p.a. is not responsible for such content, any errors contained within it, or actions taken about it. The news content and third-party reviews or opinions are provided for informational purposes only and should not be considered investment advice. This information does not constitute a recommendation to purchase or sell a particular digital asset or an investment strategy. Young Platform S.p.a. makes no warranties regarding the accuracy, suitability, or validity of the information provided or any particular asset. Prices are provided for illustrative purposes only and may vary. The data presented may reflect assets traded on the Young Platform S.p.a. platform and on selected other cryptocurrency exchange platforms.

Posted on

The first stablecoin to land on Young: USDC

usdc young

USCD in the Young Platform exchange, a stablecoin on the Ethereum blockchain and linked to the US dollar

Young is pleased to announce that as of today it will be possible to buy one of the most important stablecoins, USD Coin (USDC), on our exchange. Like all other stablecoins, USDC can be a fallback option in these times of high volatility in the markets.

What is USDC?

USDC is based on the Ethereum blockchain and is “pegged” to the US dollar, which means that each USDC represents 1 US Dollar.

Why USDC?

USDC is one of the stablecoins with the highest liquidity and market capitalisation.

Furthermore, it is a certified project whose reserves are audited every month by 5 accounting companies including Grant Thornton LLP.

How much is 1 USDC worth?

1 USDC = 1 $

This means that if, for example, I convert 1,000 Euros into USDC, I end up with the equivalent in US dollars.

Following this example: if 1€ corresponds to $1.11

1000 Euro = 1187.83 USDC

Which USD Coin pairs will be available on Young Platform?

USDC – EUR

USDC – BTC

USDC – ETH

USDC in the context of MiCA

After the implementation of MiCA, Circle, the company that issues the e-money token (EMT) USDC and the first to comply, has declared support for the right to redeem USD Coin at any time and at face value, as stipulated by the regulation. This means that users who possess it can exchange their USDC for dollars (at a 1:1 ratio) through Circle at any time. For more information please visit the Circle official website.

Want to know more?

Read the Academy article dedicated to USDC and those on stablecoins!

Official website: check out the Circle website and the USDC website.

Read the USDC Whitepaper.

For information and support, visit the Circle website or submit a ticket.

For all information requests and quotes from law enforcement, send an email to [email protected].

Posted on

Litecoin (LTC) lands on Young Platform!

Litecoin is now tradable on Young Platform

LTC, the Litecoin crypto also called digital silver, is now available on Young Platform’s exchange

Among the cryptocurrencies available for trading on Young Platform is Litecoin (LTC). Discover the use cases and features of the first altcoin!

What is Litecoin?

Litecoin is one of the first blockchains to be created and it is nicknamed Bitcoin’s ‘little sister’. The project was founded in 2011 from an idea of former Google and Coinbase engineer Charlie Lee. It is to all intents and purposes a fork of Bitcoin’s source code, the two blockchains are very similar in this respect. However, the differences they have are related to the block validation time and hashing algorithm. Litecoin has tried to maintain the strengths of Bitcoin’s blockchain and at the same time improve its weaknesses. Like the parent blockchain from which it derives, Litecoin works according to the Proof-of-Work consensus mechanism: it is the miners who validate transactions through their computational power and who create the new blocks in the network.

What is LTC?

‘Altcoin’ is the term used to refer to all alternative cryptocurrencies to Bitcoin. The first crypto in this category to be developed is LTC. While Bitcoin is often referred to as ‘digital gold’, Litecoin is known as ‘digital silver’. So, what is Litecoin used for? The main use case for LTC is peer-to-peer payments. Since Litecoin can process transactions 4 times faster than BTC, payments are cheaper and faster.

Why did we choose LTC?

LTC is one of the blockchains that made the history of cryptocurrencies. In operation since 2011, it continues to guarantee fast, cheap, low-energy transactions without neglecting network security. Litecoin is trying to establish itself more and more as a network for small everyday payments. It is also a blockchain known for its focus on privacy. The network integrated the Mimblewimble protocol in 2022, which takes care of transaction privacy through five different cryptographic mechanisms.

Which pairs are available for LTC?

●     LTC-EUR

●     LTC-USDT

Want to know more?

Read the Academy article about Litecoin and the one dedicated to its creator Charlie Lee!