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Filecoin Mainnet Launches, ZB.com's solution for FIL6Z and QFIL Delivery

Filecoin Mainnet Launches, ZB.com's solution for FIL6Z and QFIL Delivery

Filecoin, a decentralized storage network (like a decentralized Dropbox, OneDrive or Google Drive) that raised over $200 million in a 2017 ICO, launched last week, on Oct. 15, and allowing trading of FIL tokens across major cryptocurrency exchanges including ZB.com, Huobi, and Binance. The FIL price surged 118% in less than two days before a nearly 80% plunge, but the project is still being talked about as one with a potentially very real use case. At the time of writing, FIL currently trading at $28.33. According to the data from CoinMarketCap, roughly 40% of the volume has been on ZB.com.

According to a Chinese language website, www.jinse.com, Filecoin, as an emerging cryptocurrency, is expected to replicate the glory of Bitcoin. So many crypto currency exchanges want to occupy a place in the Filecoin market. Among them, the most noteworthy is ZB.com, one of the Top-4 crypto exchanges in the world right now.

ZB.com has seven years of experience providing safe and secure operations in digital asset trading. ZB.com has obtained digital asset licenses in Thailand and Dubai, and has offices in HongKong, Singapore, UAE, Republic of Korea, Switzerland, Malta, Malaysia and USA. The platform uses multiple technical security protection to build a professional financial level digital asset transaction network.

At present, the market of filecoin is extremely hot. Both exchanges and users can make considerable profits. Because of this, the Filecoin market presents a scene of battles.

Surrounded by many powerful players, the ZB.com has stood steadily in the fierce competition in the filecoin market relying on two major powers. One is rich experience in crypto currency operation, and the other is the two trumps cards in hand, namely FIL6Z and QFIL.

For many exchanges, they have rich experience in digital asset operation. Therefore, the key for Zb.com to break through in the Filecoin market is FIL6Z and QFIL. FIL6Z can be classified as FIL. This is also the type of futures that many exchanges focus on. Filecoin's futures products have a certain lock-up period. The most famous futures products are FIL6, FIL12 and FIL36, and of course there are high-quality futures products like QFIL and so on. The number after FIL represents how long it will take for FIL to be released for delivery after the main network goes live. As the shortest futures time FIL6 naturally became one of the most popular FIL futures products. At the same time, the FIL6 futures products have also been launched on many top crypto exchanges including ZB.com, Gate.io, BW, ZBG and other exchanges.

If FIL6 (the 6-month futures after the mainnet launch) is purchased, the exchange needs to convert FIL futures into real FIL on the Filecoin network to investors within 6 months of the mainnet launch. Fil6z has the following advantages: first, it has strong liquidity and can be circulated on multiple platforms; second, it has a short cashing time; third, the cashing method of fil6z is backed by the SAFT agreement, which can greatly reduce the risk of users.

FIL6Z is already very attractive, but QFIL with 15-30 days lock-up period will be even more attractive. QFIL is a Filecoin token based on the ERC2.0 version launched by QuickCash. The current total supply of QFIL is 10,000.

QFIL exchange rules

According to the official announcement of the ZB.com, after the Filecoin mainnet is launched, within 15 to 30 days after the official space competition currency distributed by Filecoin starts linear release, Quickcash is responsible for 1:1 unlimited exchange of QFIL (no need to wait for 180 days linearly release). This means that traders holding QFIL can start FIL redemption in November. At that time, the ZAPP of ZB.com's APP will be launched on QuickCash's QFIL redemption ZAPP, and users can go to the ZAPP to exchange QFIL to FIL by themselves.

From this point of view, the starting value of QFIL is much greater than FIL6, FIL12, FIL36 and other Filecoin futures products, because the speed of the redemption time greatly determines the value of futures.

After holding QFIL, you can also participate in DeFi mining.

FIL/QFIL Mining, Share 700,000QC rewards!

Activity Time
From 2020.10.22 14:00 to 2020.10.29 14:00(UTC+8)

Activity Details
Activity One: Deposit FIL and exchange into QFIL to share 200,000 QC(about 30,000 USDT)
During the event, users who deposit FIL to ZB.com and exchange the FIL into the QFIL in the QuickCash Cross-Chain ExchangeZAPP on ZB APP will share 200,000 QC(about 30,000 USDT) according to their net deposited FIL volume( FIL deposits volume - FIL withdrawal volume) that exchange into QFIL.

In addition, using the QFIL to join QFIL-DeFi mining will get DeFi income every day according to the proof of work (H) of the QFIL assets.

FIL/QFIL High-yielding Mining Earnupto 603% APY. Download ZB APP: https://www.zb.com/en/download 

QFIL is a Filecoin token based on the ERC2.0 version launched by QuickCash. The current total supply is 10,000 (obtained in the arms race), and it can be exchanged for Filecoin(FIL) at 1:1 ration after the Filecoin mainnet is launched.

Activity Two: Join QFIL-DeFi mining to share 500,000 QC(about 75,000 USDT)
During the event, users complete the following requirements will be eligible to share 500,000 QC(about 75,000 USDT):
1.Deposit FIL and exchange the FIL into the QFIL in the QuickCash Cross-Chain Exchange” ZAPP;
2.Using the QFIL to join QFIL-DeFi mining;
3.Retweet our activity news and and fill out this form: https://forms.gle/z8Sz6Xr7FXsx2PRi9
How to participate in Filecoin Activities on ZB.com:

Exchange FIL into QFIL: ZB APP—ZAPP—QuickCash Cross-Chain Exchange
Join QFIL-DeFi Mining: ZB APPZAPP—DeFi Mining

As expected, QFIL caused a sensation when it came to market. There has been a very large increase so far.

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North Carolina residents to soon have access to Binance.US services

North Carolina residents to soon have access to Binance.US services

Quick take

1 minute read

  • Binance.US is getting ready to launch its services available to North Carolina residence. 
  • Binance published a statement earlier this month Catherine Coley saying that the digital asset marketplace is now available for residents in North Carolina.

Binance.US is getting ready to launch its services available to North Carolina residents. The subsidiary of the major crypto platform Binance published a statement earlier this month on the 12th of November to CT with the CEO, Catherine Coley saying that the digital asset marketplace is now available for residents in North Carolina.

This would allow them to buy, trade and earn cryptocurrency.

“[North Carolina] is a state that has been involved in building the banking industry and evolving technology,” stated Coley.

It is also worth noting that North Carolina is home to the research triangle park. For those that don’t know, this is a well-known high tech research and development company that includes Cisco systems as well as other consulting companies in relation to blockchain.

In regards to this, they further say:

“Research Triangle Park and the robust school systems in the state have it positioned to meaningfully impact the blockchain industry [...] the state can begin to build more companies that have easy access now to cryptocurrencies.”

For more news on this and other crypto updates, keep it with CryptoDaily!

© 2020 CryptoDaily All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

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IRS crackdown on Coinbase users who are dodging their tax

IRS crackdown on Coinbase users who are dodging their tax

Quick take

1 minute read

  • The tax office of David W Klasing has just issued a public release morning the United State IRS is cracking down seriously with users on the Coinbase platform.
  • The dual licensed tax lawyers employed at the company say that they have been tracking an increase in IRS enforcement activity against users on the platform you are not complying with their requirements for tax and reports.

A specialised Californian tax company, the tax office of David W Klasing has recently issued a public release stating the United States internal revenue service (IRS) is cracking down seriously with users on the Coinbase platform.

The dual-licensed tax lawyers employed at the company say that they have been tracking an increase in IRS enforcement activity against users on the platform who are not complying with their requirements for tax and reports.

The company has heeded a warning saying people who are not paying the tax on the platform “end up facing serious civil and criminal trouble down the line”. They further say:

“If you have failed to report holding Bitcoin or other virtual currencies on your past returns or filed an incomplete or misleading picture of your cryptocurrency holdings, the time to act to correct this is now. Once an audit or criminal tax investigation has begun, it will be too late to amend your returns or take advantage of a voluntary disclosure program.”

A transparency report was released by the exchange earlier this year in October which was highlighted by the law company saying that it should “serve as a major wake-up call“ to users of the exchange.

For those that don’t know, this report clearly indicated that both the IRS and its criminal investigation unit were filing information requests with the platform.

The uptick in the enforcement activity against Coinbase uses from the IRS on those who don’t their taxes would appear to confirm that the exchange is cooperating closely with federal authorities in the United States as the company has further said:

“This data [in the October report] makes it clear that the IRS is requesting information from Coinbase for the express purpose of checking it against its own taxpayer data and looking for discrepancies where holdings on Coinbase have not been reported on taxpayers’ returns.”



For more news on this and other crypto updates, keep it with CryptoDaily!

© 2020 CryptoDaily All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

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Crypto exchanges boom in Cuba during the pandemic

Crypto exchanges boom in Cuba during the pandemic

Quick take

1 minute read

  • Cryptocurrency has been going at an immense rate over the course of 2020. 
  • With the coronavirus pandemic in full swing and the economic crisis that came as a result still ongoing, crypto is looking as a tasty alternative for mini all over the world.

Cryptocurrency has been going at an immense rate over the course of 2020. With the coronavirus pandemic in full swing and the economic crisis that came as a result still ongoing, crypto is looking as a tasty alternative for many all over the world.

Cuba is one such country that has been seeing a spike in its crypto activities over the course of this year. This comes as there is an absence of related regulation in the country according to senior executives at local crypto companies.

Earlier this month, the nation recorded a massive spike in Google queries relating to bitcoin which suggested an increase in crypto activity in the nation.

Speaking to CT, a local crypto exchange Bitremesas said that the platform has been slowly but surely growing over the course of this year and has seen a noticeable influx in its user activity in recent times. The creator of the exchange, Erich Garcia said “By now, the use of the service is increasing at 200% every month.” 

Mario Mazzola, another founder of a different local exchange known as Qbita, said:

“Bitcoin usage and volume in Cuba is exploding right now.”

Cryptocurrency regulations in Cuba are next to none. They are completely deregulated according to local enthusiasts. Some say that they are neither legal nor illegal but the government in Cuba has favourably looked to the industry in the past.

For more news on this and other crypto updates, keep it with CryptoDaily!

© 2020 CryptoDaily All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

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84% of lost funds on the KuCoin exchange now recovered according to CEO

84% of lost funds on the KuCoin exchange now recovered according to CEO

Quick Take

1 minute read

  • CEO of KuCoin exchange confirms 84% of lost assets have been recovered.
  • The exchange was hacked earlier this year in September.

After losing $280 million in a malicious attack earlier this year in September, the KuCoin crypto exchange finally recovered a “majority“ of the funds.

The co-founder founder and chief executive officer of the platform, Johnny Lyu published an announcement earlier this month on the 11th of November saying that the platform has recovered 84% of the stolen assets in crypto.

On top of this, he went on to say that the recovery process has involved “on chain tracking, contract upgrade and judicial recovery“.

Before we finish though, it is worth saying that we aren’t financial advisors and this is not financial advice. Please do your own research before investing in a cryptocurrency.

It will be interesting to see how this plays out however, it is good news that so much of the lost funds have been recovered.

For more news on this and other crypto updates, keep it with CryptoDaily!

© 2020 CryptoDaily All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

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