Tag: Update

Changes Following MiCA Regulations

With the introduction of the Markets in Crypto-Assets (MiCA) regulation, we have made several adjustments concerning stablecoins to ensure compliance with European regulations.

Starting from January 31, 2025, deposits and purchases of USDT, DAI, and PAXG will be suspended. These cryptocurrencies must be either withdrawn from our platform or sold by April 1, 2025.

Additionally, we have made changes to the Moneyboxes Vaults and added new trading pairs. Here’s everything you need to know.

Suspension of USDT, DAI, and PAXG Purchases and Deposits

Starting January 31, 2025, users will no longer be able to purchase or deposit USDT, PAXG and DAI on the Young Platform due to non-compliance with MiCA regulations. 

However, if you currently hold these stablecoins, you will have until March 31, 2025, to sell or withdraw them from the platform. 

After April 1, 2025, all selling and withdrawal operations for USDT, PAXG, and DAI will be permanently disabled. We strongly recommend that you close any positions and withdraw your funds from the Young Platform before this deadline.

Cancellation of Open Orders

All active STOP MARKET, STOP LIMIT, and LIMIT orders on the following pairs will be cancelled.

Buy Orders Affected:

• PAXG-BTC
• PAXG-EUR
• USDT-EUR
• DAI-EUR

Sell Orders Affected:

• 1INCH-USDT
• AVAX-USDT
• BTC-USDT
• DOGE-USDT
• DOT-USDT
• ENJ-USDT
• ETH-DAI
• ETH-USDT
• GRT-USDT
• LINK-USDT
• LTC-USDT
• METIS-USDT
• MKR-USDT
• OP-USDT
• SAND-USDT
• SOL-USDT
• SUSHI-USDT
• TON-USDT
• WLD-USDT
• ZK-USDT

Changes to Currency Operations

USDT & DAI:

• Selling orders from USDT/DAI to Euro will remain active.
• Buying orders from Euro to USDT/DAI will be disabled.
• Swaps from USDT/DAI to another cryptocurrency will remain active.
• Swaps from any cryptocurrency to USDT/DAI will be disabled.

PAX Gold (PAXG):

• Can still be exchanged for Bitcoin (BTC).
• Can still be sold for Euro (EUR).

Changes to Moneyboxes Vaults

All PAXG Moneyboxes Vaults and recurring purchases of PAXG, both individual and customized, will be deactivated. Any funds in these Moneyboxes Vaults will automatically be credited to the user’s Main Wallet.

New Trading Pairs Available

To enhance your trading experience, we have introduced new MiCA-compliant markets using USD Coin (USDC) and Euro (EUR):

• TON-USDC
• ZK-USDC
• WLD-USDC
• ENS-USDC
• MKR-EUR
• SUSHI-EUR
• 1INCH-EUR
• ENJ-EUR

Stay tuned to our Blog for the latest updates on cryptocurrency regulations.

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Win a MacBook Pro, iPhone 16, AirPods Max, and more!

Get ready to enter the arena with Trade Rumble, Young Platform’s exciting new competition! From February 7, 2025, to March 9, 2025, you’ll have the opportunity to compete against other traders, climb the leaderboard, and win fantastic prizes, including a MacBook Pro, iPhone 16, and more.

Here’s everything you need to know to participate and give it your all!

How to participate in Trade Rumble

Entry Requirements

The competition is open to all users who meet the following criteria: 

• Must be of legal age.  
• Must have a registered and verified account on Young Platform (please ensure that you complete the KYC process, which is the identity verification). 
• Must enter the competition directly through the app, accepting the rules with a single click. 

Enrollment Modalities

• New Users: Download the app or register on the website, complete the identity verification, and enter the competition in the designated section (only app). 
• Existing Users: Log in to the app, complete the KYC process (if you haven’t done so already), and navigate to the ‘Trade Rumble’ section to enter the competition.

How the competition works

The competition is straightforward: your goal is to collect as many Gems as possible to rise on the leaderboard and win amazing prizes. Here’s how it works:

1. Complete Quests: Engage in buy, sell, or exchange transactions on the Young Platform exchange (basic version). The Quests will guide you through the tasks you need to complete to earn Gems.

2. Redeem Gems: After finishing a Quest, don’t forget to redeem your Gems directly in the app! Only then will they be added to your total and contribute to your ranking.

3. Climb the Leaderboard: The more Gems you gather, the higher you will climb the leaderboard, increasing your chances of winning one of the 10 prizes!

What Matters:

– Transactions involving Euro-Crypto pairs (e.g., EUR/BTC, EUR/ETH).

– Transactions involving Crypto-Crypto pairs (e.g., BTC/ETH, ADA/USDT).

– Transactions processed via Moneyboxes (recurring purchase).

What Doesn’t Count:

– Operations conducted on Young Platform PRO.

– Transactions carried out using the Smart Trades feature.

– Cancelled or unexecuted orders.

– Suspicious or fraudulent volumes, as determined by Young Platform.

Important: Remember to redeem your Gems as soon as you complete a Quest to maximize your progress! 

Please note: If you do not redeem the Gems on time, they will not be added to your total, and you will miss the chance to climb the rankings.

Prizes to be won

Here is an overview of the prizes that await you:

• 1st place: MacBook Pro, iPhone 16, AirPods Max 
• 2nd place: MacBook Pro, iPhone 16 
• 3rd place: MacBook Pro, AirPods Max 
• 4th place: MacBook Pro  
• 5th place: iPhone 16, AirPods Max  
• 6th place: iPhone 16 
• 7th place: AirPods Max 
• 8th place: Apple Watch  
• 9th place: Apple Gift Card worth €250.00
• 10th place: Apple Gift Card worth €100.00

If some prizes are not awarded, they will be donated to Save the Children Italy.

The benefits of the Young Platform Club

Joining a Young Platform Club provides you with a strategic advantage in the Trade Rumble competition! The higher your club level (e.g., Platinum, Gold), the more benefits you can enjoy.

In the event of a tie in the rankings, the member at the highest Club level will always take precedence. Additionally, being a Club member grants you access to commission discounts, which translates to more trading opportunities, lower costs, and more gems.

Not part of the Club yet? Now is the perfect time to prepare for climbing the levels and making an impact in the Trade Rumble rankings!

Join Now

Classification Rules

The ranking is determined by the total number of Gems accumulated. In the event of a tie, the following criteria will be used to break it:

1. The user who has achieved the highest level in the Young Platform Club (e.g., Platinum is ranked higher than Gold) will win.

2. If two users belong to the same club, the one who reached their total number of Gems first will be the winner.

3. If neither user is a member of a club, the winner will be the one who accumulated their Gems first.

Please note that the final ranking will be closed at 23:59 on March 9, 2025, and winners will be announced by March 31, 2025.

Your ranking

Trade Rumble will be accessible through the Young Platform app, where you can track your ranking. Complete details and the Official Regulations will always be available on the Young Platform app, as well as on our website at support.

Why participate?

Trade Rumble is more than just a competition; it’s an opportunity to test your trading skills, have fun, and compete for fantastic prizes. If you haven’t signed up for Young Platform yet, now is the perfect time to get started! Don’t waste any time—sign up now and prepare to conquer the rankings.

Go to sign up

Do you have any questions? Consult the full Regulation on the app or write to us: we are here to help.

In recent years, financial transparency regulations have expanded to include the cryptocurrency sector, aiming to prevent the illicit use of digital assets. A significant regulation in this area is the Travel Rule, which requires financial institutions and virtual asset service providers (VASPs) to share information about customers involved in transactions above a certain amount.

In line with its commitment to security and compliance, Young Platform has implemented major updates to comply with these regulations while maintaining user privacy. In this article, we will explore the requirements of the Travel Rule, its implications for the crypto sector, and the steps Young Platform has taken to remain compliant.

European Regulatory Framework: MiCA and TFR

The European Union (EU) has established a comprehensive regulatory framework for the cryptocurrency industry, which includes two key regulations: the Markets in Crypto-assets Regulation (MiCA) and the Transfer of Funds Regulation (TFR).

MiCA provides a uniform legal framework for digital assets, outlining clear rules for consumer protection, asset classification, licensing requirements, and market abuse prevention.

Conversely, the TFR implements Europe’s Financial Action Task Force (FATF) Travel Rule. It mandates sharing detailed information regarding crypto-asset transactions to combat money laundering and financing illicit activities.

What is the Travel Rule, and why is it important?

The Travel Rule requires CASPs to collect and transfer detailed information on the parties involved in transactions above a certain threshold. For Italy, the threshold is €0, which means that any crypto withdrawal or deposit must carry the additional information required by the Travel Rule. (The aim is to increase the transparency and traceability of transactions, making it more difficult for criminals to hide behind anonymity.

The TFR establishes specific requirements to ensure compliance, including:

• Verification of sender and receiver information.
• The adoption of appropriate measures for transactions to self-hosted wallets.
• The application of guidelines issued by the European Banking Authority (EBA).

What is the Travel Rule, and why is it important?

The Travel Rule requires Crypto Asset Service Providers (CASPs) to collect and transfer detailed information about the parties involved in transactions that exceed a certain threshold. In Italy, this threshold is set at €0, meaning that any crypto withdrawal or deposit must include the additional information mandated by the Travel Rule. The primary goal of this rule is to enhance the transparency and traceability of transactions, making it more challenging for criminals to operate anonymously.

The Travel Rule establishes specific requirements to ensure compliance, which include:

• Verify information for both the sender and the receiver.
• Implementation of appropriate safeguards for transactions to self-hosted wallets.
• Adherence to guidelines issued by the European Banking Authority (EBA).

Young Platform’s Adjustments to the Travel Rule

To comply with the Travel Rule and EBA guidelines, Young Platform has introduced new procedures for incoming and outgoing cryptocurrency transactions, specifically for deposits and withdrawals. Here are the main changes implemented.

Verification of Self-Hosted Wallets  

When users deposit or withdraw cryptocurrencies to a personal wallet, they may be required to confirm ownership of that wallet. This verification can be completed through Self-Certification, which involves a quick verification process using two-factor authentication (2FA) or other specific methods outlined directly on the platform during the transaction.

Transactions Between Crypto Asset Service Providers (CASPs)  

Young Platform requires users to specify the counterparty involved in the transaction for transfers to other crypto service providers.

Security and Data Protection  

Young Platform has collaborated with technology partners to adopt advanced solutions, including the TRUST (Travel Rule Universal Solution Technology) system. This system enables the secure and fully encrypted exchange of critical information, ensuring regulatory compliance while maintaining user privacy.

Requirements for Self-Hosted Wallet Transactions  

For transactions involving self-hosted wallets, Young Platform evaluates the risk associated with each transaction. It requires specific verifications, such as two-factor authentication or other methods communicated during the transaction process, following the provisions of the Travel Rule.

What changes for Young Platform users?

European Young Platform users must adapt to new crypto transaction procedures. Here’s a summary of the changes:

• Deposits and Withdrawals: Users will be required to verify the source of their funds. For private wallets, a one-time verification will be necessary.
• Transactions Between CASPs: Users may need to provide information about the counterparty involved in the transaction.

For more details, please refer to the updated Cryptocurrency Withdrawal and Cryptocurrency Deposit guides.

Why the Travel Rule is a step forward for the crypto sector

The Travel Rule marks a significant advancement for the crypto industry. While it may initially appear to be an extra burden for users, this regulation is crucial in legitimising the global cryptocurrency industry. Enhancing transparency and security, the Travel Rule fosters a more trustworthy environment for individual users and institutional investors.

Young Platform: compliance and innovation for users

Young Platform is dedicated to offering a secure and compliant platform while prioritising user experience. By collaborating with leading partners like TRUST and utilising advanced technologies, the company guarantees that users can operate in a trusted and regulated environment. For more information on the Travel Rule and the adjustments made by Young Platform, please visit our Help Centre,Terms & Conditions, or Privacy Policy.

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As of January 31, gems will be reset and will no longer be used for purchasing fee discounts. Instead, they will play a key role in rankings, prizes, and competitions within the app.

The New Year is set to bring many surprises for you and the entire community. We are excited to announce contests and competitions that will enable you to compete against other users and win amazing prizes. The first of these initiatives will launch in February. While we can’t share too much just yet, we can reveal that Gems will play a central role in this challenge. Are you ready to participate?

Gems reset on all accounts.

As of January 31, all Gems will be reset to ensure that everyone starts at the same level in future competitions. This reset represents an opportunity to create a fair and exciting environment where every user has an equal chance to rank among the winners. With this change, the reward system will be more transparent and accessible, offering a refreshing new experience on the platform.

Before this change can happen, we must utilise the gems we have gathered so far! 

Please note that competitions, prizes, and rankings will only be accessible in the app. If you haven’t done so yet, download Young Platform!

Download the app!

How to exploit Gems before 31 January

If you have accumulated Gems, now is the perfect time to use them! You have until January 30, 2025, to take advantage of the benefits. Here’s how:

• Redeem completed Quests: Log into the app and redeem all available Gems.
• Spend in the Shop: Use your Gems to purchase fee discounts and save on trading costs.

Remember to plan your budget: The fee rebates you buy in the Shop are valid for 24 hours, so ensure you have funds ready for trading. If necessary, make a deposit into your account before purchasing the discounts!

If you are a Club member and purchase a higher discount, the highest available discount will be applied. As a general rule, you can use the most beneficial discount available to you.

WARNING: All incomplete, unredeemed Quests and unused Gems will not be available after 31/01.

Why join a Club before February 4?

Lock in a 100% fee discount forever!

If you’re considering switching to Club Platinum or signing up, now is the ideal time to act! Starting January 4, Club Platinum will reduce the fee discount from 100% to 90%. However, anyone who signs up by February 3 will retain the benefit of a 100% fee discount forever, just like current Club Platinum members. For them, nothing will change, and they will continue to enjoy the 100% fee discount without any alterations.

Take advantage of this unique opportunity now! Read the in-depth article to learn more.

Please note: The discount remains valid as long as you continue to be a Platinum Club member.

Club price changes

Starting February 4, 2025, a new system for calculating club membership costs will be implemented based on the price of the YNG token. 

If you join a club before February 4, you will lock in the current amount of YNG tokens required for membership. For instance, at today’s price of €0.15 per YNG, you could join Club Silver by using 5,000 YNG tokens, which is approximately €750. However, after the new pricing structure is introduced, you would need 8,000 YNG tokens to join Club Silver at the same price of €0.15 per token, resulting in a cost of €1,200. 

For more details, read the in-depth article.

Prepare your 2025 on Young Platform!

Don’t miss the chance to make the most of the Gems and Club benefits before the changes. Sign up now, use your accumulated Gems and get ready to compete and win. 2025 on Young Platform will be a year full of opportunities!

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With recurring purchases for staking, you can automate your crypto accumulation journey, simplify asset management, and maximise long-term rewards.

Let’s face it: no one likes sitting idle while the market behaves like a hydra, growing new heads faster than you can keep up. The bull market, seductive yet dangerous like a siren’s song, also offers huge opportunities for those who stay grounded and play smart.

In these times, recurring purchases combined with staking are like the ultimate Goku-Vegeta fusion: you keep accumulating crypto while reducing risk through dollar-cost averaging and earning rewards on what you already hold. And those extra staking rewards? That’s the cherry on top. You can sell them when the market peaks or keep them because you believe in the project more than in your trading instincts.

Then there’s the bear market – the stuff of nightmares for many. It’s a dull, slow, and almost soporific time when most people give up. But that’s when the best opportunities arise. Lower prices, better deals – if you have the patience. While the market drags along, staking works quietly in the background, creating a solid foundation of tokens that will give you an edge when the market roars back to life.

Quick refresher: market cycles

For anyone new here, let’s cover the basics: markets are cyclical and move through four main phases – accumulation, uptrend, distribution, and downtrend. Simple, right?

The accumulation phase comes after the downtrend once prices stabilise. But it may feel counterintuitive to keep accumulating when the market is already rising. However, that’s exactly when a well-thought-out strategy like recurring purchases comes into play.

During an uptrend, many investors succumb to FOMO (fear of missing out), buying impulsively at market peaks. By sticking to a disciplined recurring purchase plan, you’re effectively smoothing out the highs and lows, ending up with a reasonable average price over time.

Staking in the accumulation phase

Once the market has bottomed out and prices are stable, recurring purchases combined with staking become your best allies. This strategy helps you build strong foundations for the market’s next phases, turning time into your greatest asset.

Recurring altcoin purchases in a bull market

Here’s something that often gets overlooked: if Bitcoin is the undisputed king and Ethereum the black panther of the crypto jungle, altcoins are more elusive prey.

During a bear market, altcoins tend to stay in the shadows. Why? Because it’s hard to tell which ones will survive – unless they’ve already proven themselves resilient during previous downturns.

The altcoin market is a mixed bag. Some projects are rock-solid, built for long-term success, while others are just seasonal cryptos – fleeting stars that shine brightly during bull runs but fade when the market cools.

This is why, in a bull market, it’s critical to distinguish between altcoins with real potential and those merely riding the hype wave. Long-term success comes down to quality.

Here’s the key takeaway: historical solid altcoins often move in sync with Ethereum during uptrends, making them easier to spot. Recurring purchases give you an edge by allowing you to accumulate these promising assets without relying on risky, short-term trades. When combined with staking (available for select altcoins), this strategy lets you maximise rewards while the market is on the rise. Just be sure to plan your exit strategy before the market peaks.

How does it work?

It’s easier than you think.

1. Choose your preferred frequency – daily, weekly, or monthly.
2. Set the amount you want to put in staking.

From there, your funds will automatically be converted from euros into cryptocurrency and staked at your chosen frequency. Each operation creates a new stake. Mission accomplished. Simple, right?

Quick note: Remember that the crypto market is volatile, so the number of tokens purchased will vary with each recurring purchase, depending on the asset’s price at the time of execution.

Additional benefits

• Diversification: Spread your funds across multiple cryptocurrencies to reduce risk and increase your chances of success.
• Discipline made easy: If you struggle with consistency or get swayed by market emotions, recurring purchases provide a hands-off approach that keeps you on track.

At the end of the day, it all comes down to one simple truth: markets are cyclical, but success is for those who stick it out – whether it’s a frenzied rally or a period of stillness. Stay in the game, plan ahead, and don’t get dazzled by short-term fireworks.

Satoshi would approve.

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The bull market is here, and it might be time to prepare for the much-anticipated altseason. How? With a 50% discount on altcoin trading fees!

This November, the crypto market has witnessed an explosion of bullish momentum, igniting euphoria among traders and investors. However, this growth has primarily benefited Bitcoin, with a few exceptions such as Ripple (XRP) and Stellar (XLM). Many crypto enthusiasts, captivated by Bitcoin’s recent rally, are asking one pressing question: “When will the altseason begin?”

While no one can predict the market with certainty, we can offer some guidance on key metrics to monitor and detect the start of the altseason. We’re offering a 50% discount on altcoin trading fees to help you get ahead. Read on for details!

Could Altseason be just around the corner?

To predict the altseason, it’s essential to monitor two key indicators: Bitcoin Dominance and the ETH/BTC ratio.

• Bitcoin Dominance
  This metric compares Bitcoin’s market capitalisation to the entire cryptocurrency market, expressed as a percentage. After climbing steadily throughout 2023, Bitcoin Dominance has plateaued in recent weeks and is now beginning to decline. Since 22 November, Bitcoin Dominance has dropped from 61.3% to 58%, suggesting that Bitcoin’s influence in the crypto market is diminishing.
  
• ETH/BTC Ratio
  The ETH/BTC chart shows Ethereum’s relative strength to Bitcoin. This ratio has been in a downtrend since 2021 but recently found support around 0.031 BTC, halting its decline. Monitoring Ethereum’s relative strength is crucial, as ETH has historically led the alt season, often achieving strong performance before smaller-cap altcoins follow suit. Currently, the ETH/BTC ratio is at 0.037 BTC, marking a 15% increase since 22 November.
  

Altcoin Friday: 50% off altcoin trading fees

Now that you know what to watch to spot the start of the altseason, it’s time to talk about Altcoin Friday. To celebrate the crypto market’s bullish momentum and Black Friday, we’re offering a 50% discount on all altcoin-Euro trading pairs.

This promotion runs until Sunday, 1 December, at 11:59 PM, and applies to orders with a minimum value of €100.

Take advantage of the Discount!

For members of the Young Platform Clubs, this discount is stackable with your existing Club discount. For example, if you’re part of the Bronze Club with a 30% discount, it will be applied first, followed by the additional 50% from the Altcoin Friday promotion.

Note: This offer applies exclusively to Altcoin-Euro trading pairs on the Young Platform app (not Young Platform Pro) and does not include trading fees for altcoin-stablecoin pairs, such as ETH-USDT.

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