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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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Cryptocurrency, capital increase for the Italian exchange Young Platform

youngplatform_sole24ore

Only 5 months after the launch of its exchange, Young Platform has opened a capital increase and appointed a Board of Directors

Young Platform announces the opening of a new capital increase and the appointment of the Board of Directors, despite the difficult moment due to the COVID-19 emergency. 

Only 5 months after the launch of the Young Platform exchange, the company, based in Turin and with an office in London, has recorded a significant growth both in terms of registered users and volumes transacted, in a market such as that of Bitcoin and cryptocurrency, which seems to be reacting positively to the current financial crisis. 

“In this challenging worldwide economic situation we decided not to stop but to react by announcing two important new operations”, says Andrea Ferrero CEO & Co-Founder of Young. “We have in fact opened a capital increase involving a number of highly prestigious Italian and international investors and appointed a Board of Directors whose objective is to institutionalize the company and give more and more credibility to our sector”, concludes Ferrero. 

In addition to Ferrero himself, the new Board of Directors is composed of Mariano Giovanni Carozzi and Alberto Bertagnolio Licio, formerly Young’s CFO. 

Carozzi has decades of experience in the banking world (first in Banca Sella and then in Banca Profilo) and for several years he has been personally involved in the evolution of the Italian fintech world (having founded Prestiamoci and having been Chairman of Tinaba). 

“I decided to embrace the project because I strongly believe in its team and in the further growth of this sector, a growth which we will witness in the coming years and of which Young will be the absolute protagonist”, says Carozzi. 

The company has also identified in the law firm “Gitti and Partners” (specifically in Prof. Gregorio Gitti) and in the notary Remo Maria Morone the professional figures who will guide it in the coming months in a path with the ultimate goal of making Young Platform the first fully regulated Italian exchange of cryptocurrency. 

This path began a few months ago with a collaboration agreement on Anti-Money Laundering with Netech and with the subsequent inclusion within the company structure of Mr Ettore Valsecchi as AML Manager (who has thirty years of experience in the sector and who collaborates on these issues with the most important Italian financial institutions) and with the appointment of Mr Alessandro Perillo as Internal AML Manager. 

“Over the last few difficult weeks, Young Platform has also entered into new partnerships with some of the most important international companies in the blockchain world, which will be announced shortly, and was supported by Helperbit in a cryptocurrency fundraising campaign for the Italian Red Cross, thus confirming that the crypto ecosystem at international level is in turmoil and more alive than ever,” says Diego D’Aquilio, CMO & Head of International Expansion of Young Platform.

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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!

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The ultimate guide to candlestick charts

Candlesticks charts are an advanced tool for technical analysis: they summarize cryptocurrencies’ price movements over a time interval

Now that we are getting deeper and deeper into the maze of cryptocurrency markets, let’s try to go one step further and understand how real traders who take advantage of technical analysis read charts.

What are Japanese candlesticks?

You have surely seen on some trading platform these strange charts composed of red and green vertical bars. These bars are known by the poetic name of “Japanese Candlestick”. The history behind this type of chart is as exotic as its name. The invention of candlesticks dates back to the 17th century, with the aim of predicting the price of rice.

Yes, technical analysis is nothing new.

If this article will arouse your curiosity to go deeper into this story, you will discover incredible details and nomenclatures, which make the ancient technical analysis a real Japanese art of the market.

Now let’s see how to read these charts: in this way, we will understand why they are so useful.

How to read candlestick charts

Candlesticks summarize price movements over a time interval, any time interval, which is usually selectable from the interface you are using. This time span can be just one minute or an entire day. Let’s take as an example a candlestick that symbolizes the price movement of Bitcoin over a single day. The whole chart will then represent the trend over a number of days.

Let’s suppose that during day 1, represented by a single candle, these price changes occurred:

Day 1 for BTC

  • Open: €6330
  • Maximum: €6620
  • Minimum: €6272
  • Close:  €6585

The corresponding line chart would look like this:

Let’s represent this day with a candlestick:

The body of the candle, the middle part in green, represents the difference in price between the beginning of the day and the end of the day.

The lower end, which marks the price at the beginning of the day, is called “open“, because it marks how the day opened.

The upper end, which marks the price at the close of the day, i.e. the last recorded, is called “close“.

The lines, similar to candle wicks, are called shadows. They represent the maximum and minimum price reached during the day. Shadows are essential for advanced technical analysis and should not be put aside.

Let’s now see an example of a negative daily trend for Bitcoin, by looking at a red candle.

Day 2 for BTC

  • Open = €6585
  • Minimum= €6272
  • Maximum = €6620
  • Close = €6330

The corresponding line chart would look like this:

Now, let’s draw the candlestick:

Being it a negative trend, the candle is red and the open will be higher than the close because the day will close in negative.

Why Japanese candlesticks are useful

Candlesticks are much more detailed representations of the price trend than a classic linear chart, so they are much more suitable for advanced technical analysis.

If we consider that the Japanese have been using them for 300 years, and have bothered to name every possible configuration of candles – as if they were tai chi positions – there must be a reason…

To get more and more familiar with technical analysis and chart reading, the best way is to start trying the new feature of Stepdrop: Up&Down.

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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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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.

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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].

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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.