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To the Metaverse and beyond with Young Platform

In Young Platform November is the month dedicated to Meta and the Metaverse: every wednesday a new cryptocurrency

As everyone knows by now, on 28 October Mark Zuckerberg announced the rebranding of Facebook to Meta. The name refers to the company’s vision of creating a metaverse that brings together all its products to create a single virtual interaction space.

So these days there is nothing but talk of the Metaverse, but it is not a new concept. 

The Metaverse is a dematerialised parallel world using virtual or augmented reality technologies.

In this parallel reality, you can play, create, make friends and even work. Many companies are involved in creating technologies to facilitate access to this dimension or experiment with virtual worlds’ operation.

You may have heard of Second Life, a game released in the early 2000s, seen films such as Ready Player One, or perhaps even tried a pair of VR goggles. More recently, you may remember that social distancing brought out new ways of visiting a museum or a house on real estate sites last year. Well, this is the next frontier of the Internet.

What happened in the crypto market?

If you are even familiar with the crypto and NFT environment, you will have heard of metaverse on blockchain, such as The Sandbox. Blockchain projects are even more fascinating because they make the metaverse decentralised, so its management is in the hands of the players.

This is where it gets interesting. The social giant’s announcement, in fact, had a particular effect on the small blockchain world: the price of some cryptocurrencies linked to a metaverse on blockchain went up considerably.

Axie Infinity (AXS), the largest-capitalised NFT-cryptocurrency, reached a new All-Time-High on 6 November, with 25% growth since the announcement. 

The Sandbox (SAND), on the other hand, is the one that has done the most impressive numbers, with a 224% price increase from 28 October to 8 November.

It seems only right that we devote the rest of this November to the Metaverse, in all its facets, but especially on blockchain.

What’s going to happen?

  • There will be wednesday-listings of new cryptocurrencies on Young Platform
  • You will be able to read dedicated insights on the Academy
  • You will receive news on this topic from the Blog

Buy SAND!
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Young Platform raises €3.5 million from United Ventures

Turin, 28th June 2021. A few months after Young’s third birthday, we want to celebrate with you a new stage in our history. We have closed a new €3.5 million capital increase with United Ventures, one of the Italian leading venture capital funds in Italy specialising in investments in digital technologies.

This Top League round represents an important confirmation for Young Platform, which will allow us to consolidate our leadership in Italy and lay the foundations for an international expansion.

Founded to bring transparency, inclusion and education to the world of personal finance and digital assets, Young Platform will continue to develop new services related to cryptocurrencies and decentralised finance, while maintaining our community-driven identity, and focus on user education through user-friendly products. 

Young Platform is first and foremost a community, a group of enthusiasts and professionals who share valuable know-how. This sharing principle has resulted in our products becoming educational tools for people who want to enter the crypto market but don’t know where to start, as they can access the knowledge base to do so in an informed manner. 

We believe that education and awareness are the best ways to get started, that’s why our educational content is available for free to all levels of experience, with 24/7 support.

The company, the team, and our community of nearly 300,000 cryptocurrency traders and enthusiasts could not have found a better partner than United Ventures’ team.

United Ventures’ mission is to identify and promote disruptive innovations in the Italian technology industry and turn them into international businesses. However, what has certainly driven our union is the sharing of common values – first and foremost, the belief in always putting people first.

Their investment portfolio already includes the likes of MusiXmatch, Moneyfarm and Faceit. It is therefore an honour to join this team and bring our community with us.

 

To the moon!

Team Young

Read the article on Tech.eu and EU-Startups

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Everything you need to know on Ripple, XRP and the SEC

According to European legislation, Ripple is compliant. Therefore Young Platform will not be removing XRP

The Enquiry

On 22 December, the SEC filed a lawsuit against Ripple Labs, the company behind the cryptocurrency XRP. The SEC (Securities and Exchange Commission) is the federal agency that oversees the US stock exchange. The SEC is investigating the relationship between Ripple Labs and XRP, alleging that the latter is actually a security token.

The SEC alleges that the founders launched the XRP currency by selling it as a share of the Ripple company, without registering it as such. The ICO launched by XRP raised more than $1.3 billion from investors all around the world. Therefore, the lawsuit centres on the fact that the SEC holds Ripple Labs responsible for failing to register its offering as an investment contract for investors. Ripple promptly responded to the lawsuit, anticipating the SEC’s official charges on Twitter.

XRP will stay on Young Platform

The debate has led to the major US-based exchanges delisting or planning to delist XRP.

However, according to European legislation, Ripple is compliant. Therefore Young, like other European exchanges, will not be removing XRP from the Young Platform and Young Platform Pro exchanges at this time. This is because we want to avoid harming our users and give them the ability, in accordance with current European regulations, to continue to sell, buy or trade their XRP.

The future of XRP on Young Platform

Should the company’s main liquidity providers remove Ripple from their offerings, it is likely that Young will also be forced to delist XRP. Should this happen, our customers’ funds will still be protected by allowing them to be converted to fiat or sent to external wallets prior to removal. Again, users will be notified well in advance to allow them to better plan and manage their XRP funds.

Young will continue to follow the debate closely and keep its users updated.

XRP recorded a 55% growth in the last 24 hours.

Read more about Ripple and XRP in our dedicated Academy article.

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The new Ranking is out now!

Discover the new Profile Section and the new Ranking on Young Platform Step: you can decide the duration, the number of partecipants and the prizes!

Many things have changed in these months and our movements are still restricted, but Step wants to take back a little bit of freedom.

So no more weekly rankings: now you choose the terms of the race!

Whereas the ranking has always been a great virtual gathering of walkers and runners, from now on small groups of friends or community users will form thanks to the new custom rankings.

How does it work?

With the new Rankings section ou have a new way to challenge your friends and the Community. Decide the duration, the number of participants and the prize up for grabs.

The prizes work like this: participation requires a contribution in YNG and the sum of each participant’s contributions will go to the winners.

Another new feature is that, once you’ve joined a ranking, you can invite your friends to compete with you.

What can I do to start?

  • Join the ranking of another Step user
  • Create a new ranking yourself

Read the complete guide for full details on how the Ranking section works.

What about the old rankings?

All old rankings (global and weekly) are deactivated and their winners will no longer receive prizes from today.

Other news

The Profile section has also changed.

You can now find an overview of all your progress related to steps and the Up&Down functionality.

Moreover, products purchased in the Marketplace have been removed from the Profile and placed in the Marketplace toolbar (icon at top right).

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Young Platform continues its social commitment: support Dynamo Camp

Join the Dynamo Camp’s fundraising campaign by donating cryptocurrency through Young Platform’s app

Young Platform now offers to all its users the possibility to donate for Dynamo‘s new fundraising campaign, by inserting a banner inside the Stepdrop app and on the Young Platform exchange.

Dynamo Camp Onlus is an association that offers free Recreational Therapy programs to children from 6 to 17 years old, suffering from serious or chronic diseases, to their families and brothers and sisters. The activities take place at Dynamo Camp and, with Dynamo Programs, in hospitals, pathology associations and family homes in the main cities of the Italian territory.

“After contributing to the success of the Italian Red Cross fundraising with Helperbit, Young Platform’s commitment to supporting charitable initiatives continues,” said Andrea Ferrero, CEO & Co-Founder of Young Platform.

“In a difficult time like the one we are experiencing, we believe that it is more important than ever to support and introduce our users to realities like Dynamo that have been committed to helping the community for years”, concludes Ferrero.

Dynamo, which has been in business for over 13 years, structures its activities according to the Dynamo Recreational Therapy model, which has objectives of fun and entertainment but also and above all of being a stimulus to children’s abilities and of renewing self-confidence and hope.

“We hope that this is only the beginning of a long collaboration between our two realities. We are in fact already working on further initiatives, such as some ad hoc features on our Stepdrop app designed for Dynamo and the possibility of making donations directly in cryptocurrency,” says Diego D’Aquilio, CMO & Head of International Expansion of Young Platform.

Dynamo is part of the SeriousFun Children’s Network, which since its first Camp in Connecticut in 1988 by actor and philanthropist Paul Newman, has seen more than 1,185,000 children and family members participate in its programs around the world from more than 50 countries. Since 1988, 275,800 volunteers have dedicated their time to SeriousFun projects, demonstrating how deeply rooted and internationally present this organization is.

To help raise money for Dynamo

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Young’s Community. Follow us on Social Networks

Young Platform’s community runs on social networks, let’s keep in touch

Some of you have been with Young since the beginning, when there were only 7 of us in an apartment on the outskirts of Turin. Others arrived thanks to word of mouth and brought some novelty to our community. Finally, new users arrived: people we met around the world at crypto and blockchain events, enthusiastic young university students or, simply, Apple Store and Google Play argonauts.

What hasn’t changed, is the time we spend together on our official social networks, channels we use to tell the buzz of our offices, discuss about product functionality, keep you updated with selected content and sometimes leave the floor to the mentors who guide us in our exploration of this world.

Follow us on our daily adventure!

Telegram: discover what we’re brewing up, ask for technical support and share your ideas with the team and other members of the community. (If you’re Italian, here’s Telegram  for our Italian community)

Instagram: unmissable curiosities and Live streams with the great pioneers of the Crypto world

Linkedin: the space for Young’s Senior Advisors, conferences and events around the world

Twitter: the great network of those who work on innovation in Italy and collaborate with us

Facebook: videos, interviews and the latest Academy releases

Disclaimer: The team will never ask you for your personal information, email or password to access your account. Beware of those who do so in order not to compromise the security of your cryptocurrency.

—

The Young Team

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How Bitcoin community helps Italy during coronavirus emergency

Looking at the fundraising campaign powered by Croce Rossa and Young Platform: Bitcoin are a powerful tool to deliver fast economical aid during calamities,

On April 6th the second level Advanced Medical Post for pre-triage was set up in Castel Gandolfo by the Italian Red Cross – Colli Albani Committee. The AMP was purchased using the bitcoin donations raised thanks to the Helperbit platform and with the support of Young and Blockchain Education Network Italy, and in a short time, it was delivered and deployed.

On March 12th, Colli Albani Committee launched a bitcoin fundraising campaign focused on the COVID-19 emergency in Italy. This was the first initiative in the cryptocurrency sector and this led to media attention and international visibility. The first target of € 10,000 in BTC was achieved in just three days; it was possible to quickly exchange the raised money in Euro and purchase the material needed to build the AMP, which is already functioning at the time of writing. The fees of the procedures, from the initial donations to the purchase, are worth 0.55%.

The campaign is still running and the second target of € 25,000 in BTC is almost reached.

Bruno Pietrosanti, President at Colli Albani Committee, said: “With great pleasure, we reached the first main milestone of our fundraising. We are happy to have turned the received donations into a tangible aid and we are excited to have received so much help from the Bitcoin community.”

Guido Baroncini Turricchia, CEO at Helperbit, commented: “When Colli Albani Committee sent me photos of the tent, a gift granted by the solidarity of the Bitcoin community, I was excited. The efforts of Helperbit, jointly with Bitcoin donors, are now saving lives and helping to protect first responders on the front line. Those people, that in the silence of their home donated to the project, must be proud to be part of this charitable initiative. Bitcoin confirmed to be a powerful tool, a technology that allows to deliver direct and fast international aid during calamities, increasing also the transparency level. ”

Fundraising project created by Colli Albani

The Italian Red Cross – the Colli Albani team during the set-up at Castel Gandolfo
The QR code, which shows the Bitcoin address managed by the Albani Colli Committee
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Join Young Platform and the Italian Red Cross in the fight against the Coronavirus

Young Platform is here to play its part with the Italian Red Cross  and Helperbit, by launching a fundraising campaign in Bitcoin for the purchase and setup of an advanced field hospital for the COVID-19 pre-triage.

Thanks to your help we will be able to guarantee more beds and medical staff to take care of new patients by helping the work of the Emergency Room and thus avoiding to expose the hospital staff to infection.

Now is the time to make your contribution and give your support. Italy is teaching the whole world that in times of real crisis we are able to respond to emergencies with speed and great pragmatism.

Help us achieve this goal!

How can I donate Bitcoin?

  1. Log in to Young Platform 
  2. Go to the Wallet section
  3. Click on Withdraw
  4. Select Bitcoin
  5. Enter the wallet address of the Beneficiary (Wallet Italian Red Cross)   3NpNJfgpYVyZSa8YCfUufC3idVtF3iSX6d
  6. Enter the amount you wish to donate in BTC
  7. Confirm the operation by clicking on Withdraw BTC
  8. You will be asked to confirm the operation with the OTP via email
    or Google Authenticator if you set it up.

You can check the address of the Red Cross Wallet by clicking on DONATE NOW. You will be redirected to the official charity collection page.

How can I donate Ethereum and Litecoin?

  1. Click DONATE NOW.
  2. The Helperbit campaign page will open up.
  3. Click Donate.
  4. Select the currency you wish to use (from Young Platform you can send only LTC and ETH).
  5. Copy the wallet address provided by Helperbit and paste it on Young Platform in the Withdraw page > Withdraw button > Ethereum or Litecoin depending on what you want to donate.
  6. Enter the amount you want to donate.
  7. Confirm the operation by clicking on Withdraw.
  8. You will be asked to confirm the operation with the OTP via email
    or Google Authenticator if you set it up.

Young Platform’s CEO, Andrea Ferrero, commented: “I strongly believe that blockchain technology is more effective and transparent to support this kind of initiatives. Young Platform is a company whose goal is to create or exploit innovative models to improve existing procedures and we will always be at the frontline in setting up projects like the one we are undertaking for the Red Cross”.

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Data Protection and Security on Young Platform

For us at Young, the safety of our users comes first. We use the Identity Verification (KYC) procedure and Anti Money Laundering (AML).

When you buy and sell cryptocurrencies, you should operate on certified, reliable and compliant platforms. This is to protect your funds from potential fraud, criminals who try to create fake accounts to launder money or criminals who want to hack the system. The first form of security that an exchange platform must put in place to defend its users from these potential dangers is the Identity Verification (KYC) procedure.

Many are asking us what exactly the Identity Verification (KYC) procedure is and why it’s important, so we thought we’d prepare an article with everything there is to know about your security when you operate on the Young Platform exchange.

What is KYC?

The Know Your Customer procedure, better known as KYC, is nothing more than the identification process used by banks, financial intermediaries and even cryptocurrency exchanges to certify that a user is a real, natural person.

Cryptocurrency exchanges are considered by European legislation as real financial operators, so they are required to comply with the same rules as a bank. The procedure only takes a few minutes. The user must provide his or her ID, a photo of his or her face and indicate where he or she is domiciled and resident.

Our partner provider Onfido matches the user’s selfie with the photo on the ID and verifies that it is the same person. Simultaneously, it is able to report if the person has a serious criminal record, if he is a politically exposed person, a terrorist or subject to serious sanctions.

All potentially dangerous individuals are blocked and cannot create their account. This guarantees the Young Platform community, as well as the community of all exchanges that comply with European regulations, to work together with real, natural persons with no criminal record. Checks are performed periodically for the same purpose.

So to sum up, the main objective of KYC is to verify the identity of the user, with the dual purpose of protecting the user and the company from attempts at corruption, online fraud and money laundering practices.

How is my personal data used?

The idea behind the Privacy Policy is very simple: the protection of the user must be at the heart of any data collection process.

In particular, online platforms for financial activities such as the exchange Young Platform are designed from the very beginning with data protection in mind. This means that, by definition, the entire investment process on a regulated exchange is transparent, traceable and explicit.

The user’s personal data is stored and processed by Young Platform in this way and for these purposes:

  • Without being sold to third parties.
  • To allow customers and potential customers to access and use Young’s products and services.
  • To counter eventual cyberattacks and illegal activities such as abuse and misuse and to administer and update databases containing the user’s personal data.
  • To understand the feedback received on Young’s products and services and to provide additional information to customers and prospective customers on the use of these customized products and services in a quick and easy way.

What is AML or Anti-Money Laundering?

AML (Anti Money Laundering) refers to the preventive action and the campaign against money laundering. Money laundering and terrorist financing are criminal phenomena which, because of their global extent, pose a threat to the real economy and have serious destabilising effects on the banking and financial system.

In light of the dangerous nature of these phenomena, Young responds by setting up the Anti-Money Laundering Function, designed to prevent and tackle money laundering operations, by working with institutions and professionals.

Young’s Anti-Money Laundering Function complies with the 5th AML Directive issued by the European Union.
Young is also committed to raising awareness on the prevention and mitigation of money laundering and terrorist financing.

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Young Platform supports the first italian capital increase in bitcoin and ether

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Bitcoin and ether held on Young Platform in the first italian capital increase in cryptocurrency.

Young Platform backed BAI.G. Research Center Impresa Sociale S.r.l. in the first capital increase in cash and cryptocurrencies, the only one of its kind in Italy. 

BAI.G deliberated that part of the increase could be carried out through the sale of credits backed by a certain amount of bitcoin and ether held on Young Platform, chosen as a partner and guarantee for this operation.

“We are honoured to have been chosen by BAI.G. for this operation, which represents a milestone in Italy”, says Andrea Ferrero, CEO & Co-Founder of Young Platform.

The operation, unique in its kind, stands out in at least two aspects.

  1. For the first time, an asset has been conferred in the form of the native cryptocurrency of the blockchain Ethereum, ether (ETH), in addition to bitcoin (BTC). It is, therefore, the first multi-crypto-currency corporate operation.
  2. The second is the very nature of the conferment of credits by the clients towards a wallet provider, i.e. that it consists of two distinct cryptocurrencies.

The choice fell on the two cryptocurrencies with the greatest diffusion in the world and a national wallet provider such as Young Platform was chosen to act as custodian, guaranteeing, as long as it holds these cryptocurrencies are held by it, a point of reference for Italian jurisdiction in the case of provisions issued by the national authorities.

Precisely for these reasons and with the intention of establishing the best practice, BAI. G will keep its crypto-assets or cryptocurrencies in the care of third parties such as Young for the entire duration of its existence. 

This operation, therefore, represents a further step forward in the process of adapting the national legal system to the challenges presented by cryptocurrencies and, in general, by the blockchain.  Moreover, the intervention of an Italian exchange such as Young Platform, increases the security level of the operation, not only for the social creditors, but also for the national authorities.

young platform supports the first italian capital increase in bitcoin and ether

Read the News on the Cryptonomist