Bitcoin Going to Mainstream ?? 100+ Million Users This Week in Crypto

Study has been maintained by Cambridge University estimates a total of 101 million crypto users worldwide. In 2018, the study found only 35 million global consumers, representing a 189% increase in consumers over 2 years.

KuCoin Exchange publishing that his hot wallets were hacked and many cryptos were withdrawn. The exchange notes that its cold wallets are safe but the full extent of the losses has yet to be revealed. Deposits and withdrawals are currently suspended. KuCoin promised to cover all consumer losses.

Binance crypto exchange has announced it is now in the list banned websites in Russia. The list, run by Russian internet censorship agency, has been growing since 2015. The exchange has assured its Russian users that their funds are secure and that Binance consults with his lawyers on the matter.

The US refereeing that banks in the country can hold financial reserves that are used as support for fixedcoins. Such holdings must be pegged at a 1 to 1 ratio between fiat currency and fixedcoins. The new ruling provides a lot of clarity for publishers and stable banks alike and should lead to growth in the industry.

Gemini, has a leading crypto trading platform expansion into the United Kingdom, where crypto users can now deposit in British Pounds. Earlier this year, Gemini was recognized by the UK Monetary Authority and received an electronic money institution license.

And now, this week’s Bitcoin Quick Question is: Why is my bitcoin transaction still coming?

Each bitcoin transaction includes a fee that rewards the bitcoin miners, who act as accountants, for handling your transaction. Transaction fees are its own market. The higher the transaction fee you pay, the higher the odds that miners will handle the transaction faster, as it rewards them more. When the bitcoin network is very busy, transactions can be delayed.

Ways to overcome it include checking the network capacity in advance, to estimate the fee you should be sending, or announcing another transaction to pay the fees for the previous one, if sent already.

If you want to learn more about how Bitcoin transaction fees work, visit the link in the description below.

Do you have a question you want us to answer? Leave it in the comments section below.

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That is what has happened this week in crypto. See you next week.