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Crypto Exchange Coinbase Reveals New DApp Wallet and Browser for Ethereum (ETH) Network

US-based cryptocurrency trading platform Coinbase is launching new ways for users to access decentralized applications (DApps) in the Ethereum (ETH) ecosystem.

The cryptocurrency exchange says it is launching a new DApp wallet and browser that will allow users to purchase digital collectibles, trade crypto assets on decentralized exchanges, and participate in decentralized finance (DeFi).

The new Ethereum-based wallet and DApp browser will be directly accessed from the Coinbase app and will initially be available to a limited number of US users. The DApp wallet and browser will also initially be available on the Android mobile operating system.

“We will launch the ability for a small set of Coinbase app users to access Ethereum-based DApps directly from the Coinbase app. This includes buying NFTs [non-fungible tokens] on marketplaces like Coinbase NFT and OpenSea, trading on decentralized exchanges like Uniswap and Sushiswap, and borrowing, lending or trading on DeFi platforms like Compound and Curve.”

According to Coinbase, interest in DApps and the third generation of the internet, or Web 3.0, skyrocketed with the total value locked in Ethereum-based DeFi protocols exceeding $110 billion, while token sales did not. Fungibles (NFTs) topped the US$30 billion. in the last 12 months.

One of the features of the new Coinbase DApps is an improved recovery process in case of loss of access to a device.

“With today’s release, users can explore DApps without having to manage a recovery phrase.

This innovative DApp wallet experience is powered by Multi-Party Computation (MPC) technology that allows you to have a dedicated on-chain wallet that Coinbase helps keep secure. This is due to the way this wallet is set up, which allows the ‘key’ to be split between you and Coinbase.

Ultimately, this means that if you lose access to your device, your DApp wallet key will still be safe and Coinbase can help you with recovery through our live support.”

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One-Click Bitcoin Payments Are Now Available In 30 Countries

Primer, an automated payments infrastructure platform servicing over 30 countries, partnered with OpenNode to enable one-click payments with bitcoin.

  • Primer, a global payment infrastructure automation platform, now allows one-click checkout functions for bitcoin.
  • Primer partnered with a leading bitcoin payments infrastructure company, OpenNode, to bring this optionality worldwide.
  • Primer currently operates in 30 countries with a wide-range of supported payment features and OpenNode services 126 countries.

Primer, a global payment infrastructure provider, now allows merchants worldwide to accept bitcoin as payment through a 1-click checkout function through a partnership with OpenNode according to a press release.

OpenNode is a bitcoin payments infrastructure provider and with Primer’s leading commerce automation platform, users across the world will be able to access seamless payments using bitcoin.

“OpenNode and Primer share the mission of reinventing payments and providing unmatched value to merchants and businesses everywhere,” said Josh Held, Head of Strategy at OpenNode.

Held continued to say “OpenNode has believed in the promise of Bitcoin and Lightning-powered payments for a long time, and demand is now growing exponentially.”

Gabriel Le Roux, co-founder at Primer, explained the enthusiasm behind Pimer’s partnership with OpenNode noting how merchants will be able to take advantage of this functionality, not through the tedious process of coding with barriers of entry, but through a simple organic process that only requires a few clicks to set up.

“Primer and OpenNode are passionate about making Bitcoin an easily accessible payment option for merchants, through the best-in-class checkout experience available on the market,” Le Roux said.

Primer was the world’s first automator of payment infrastructure and commerce with a goal of removing barriers customers face with using specific forms of payment. With a collection of one-click integrations in over 30 supported countries, Primer was a natural partner for OpenNode as one of the leading payment gateways for bitcoin and the Lightning Network.

OpenNode operates in 126 countries, removes the technical complexities of the Lightning Network for users across the globe, and is compatible with every bitcoin wallet. 

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Brazilian Stock Exchange To Begin Trading Bitcoin Futures This Year

B3, the Brazilian stock exchange, will begin trading bitcoin futures contracts within the next three to six months and hopes to offer crypto-based services.

  • B3, the Brazilian stock exchange, will begin trading BTC futures in three to six months.
  • This past January, the CFO of B3 announced plans to trade futures based on bitcoin and other cryptocurrencies.
  • The CFO also mentioned becoming a service provider of custodial solutions, as well as a settlement provider for the growing ecosystem during January.

The Brazilian stock exchange known as B3 (Brasil, Bolsa, Balcão) will begin trading futures contracts for bitcoin within the next three to six months, according to a report from Valor.

“We plan to launch bitcoin futures in the next three to six months,” CFO André Milanez reportedly said on a conference call.

No details were offered on whether or not B3 had partnerships lined up to offer the products or if another company would be providing infrastructure. This past January, Valor reported that Jochen Mielke de Lima, director of information technology at B3 stated the exchange’s intentions of releasing BTC futures.

During the January interview, Mielke noted that B3 had been looking into bitcoin and other cryptocurrencies since 2016, but that the issue of valuing the assets against either the dollar or the Brazilian real played a confusing role in B3’s determination.

“We are identifying points of friction that we can help solve to face it, such as helping our customers provide the best access to their end customers,” he said.

B3 noted that similarities between the equities market including: trade, settlement and custody, are all issues that the exchange believes it can offer services for.

“We have around 30 national crypto brokers, apart from the international ones that operate here. We could offer a service to facilitate and standardize their operations. I believe you have something to explore in providing custody services and the settlement process,” Mielke told Valor in the January interview.

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Cryptocurrency fanatic Elon Musk bought Twitter

Elon Musk, the South African billionaire and businessman known for Tesla and SpaceX, bought Twitter from Jack Dorsey. The irony of the situation is that one of the biggest cryptocurrency fans is selling one of the world’s largest social media platforms to one of the biggest cryptocurrency fans.

Elon Musk is the new owner of Twitter

Elon Musk swore that his ownership of Twitter will bring a new level of freedom of expression that many users have not experienced or witnessed lately. Twitter, under Dorsey’s ownership, had a bad habit of isolating conservatives and suspending or outright banning anyone with Republican or right-wing leanings (like My Pillow’s Mike Lindell).

In his testimony before Congress in 2018, after the US Senate decided to crack down on social media platforms in the wake of the Cambridge Analytica-Facebook scandal, Dorsey claimed that these conservative departures were not happening for nothing. his hand, but by Twitter. algorithms”.

He said this was something the company needed to “work on”, although considering that President Donald Trump, one of the best-known conservatives, was permanently banned from the platform a few years later in 2021, it can be assumed that neither Dorsey nor any of his colleagues did anything to prevent this behavior from continuing. Congress is also to blame for not treading a little harder.

Musk is a huge fan of cryptocurrencies, for a long time he has spoken highly of Dogecoin and bitcoin. At the time of this writing, various pieces of Tesla-based products can be purchased with Dogecoin, a popular meme currency, and there was even a brief period in early 2021 where bitcoin could be used to purchase Tesla vehicles. , although this movement was later. . canceled because Musk was concerned about the environmental implications of the BTC mining process.

What does this mean for BTC?

Of course, the big question now that Musk owns Twitter is whether the move will give Bitcoin and its digital counterparts a stronger online presence. To be fair, Dorsey, who has long been a bitcoin supporter and was one of the first major institutional investors in BTC through his company Square, has long been pushing the BTC agenda and seeking to establish bitcoin as a leading digital currency. . At the time of writing, the many content creators on Twitter can even get tips and earn rewards in BTC.

But Musk, while also a supporter of cryptocurrencies, seems to love digital currencies in a different way than Dorsey, as he has long promoted separate currencies and his approach to BTC has been more cautious. For example, in ending his acceptance of the coin for Tesla purchases, Musk said he will reconsider if miners are willing to be more transparent about their energy sources.

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Germany declares tax-free crypto profits after 1 year, even if used for staking and lending

The German Ministry of Finance has published a letter officially confirming that the sale of crypto assets is tax-free after one year, even if the coins are used for gambling and lending.

How Cryptocurrency Profits are Taxed in Germany

The German Ministry of Finance announced on Wednesday that it has published a letter on cryptocurrency income tax, in which it states:

This is the first time that there is uniform administrative instruction at the national level on the subject.

The Ministry of Finance detailed that, at a hearing that took place last year, one of the most discussed questions was whether the tax-free period for borrowing and staking cryptocurrencies should be a minimum of 10 years.

The ministry highlighted that in coordination with the federal states:

The letter now states that the so-called 10-year period does not apply to virtual currencies.

In Germany, cryptocurrency is seen as “a private asset”, meaning it “attracts an individual income tax rather than a capital gains tax”, explained crypto tax firm Koinly, emphasizing that Germany “only taxes cryptocurrencies if they are sold within the same year it was purchased.”

More detailed Koinly:

As a “private sale” in Germany, crypto profits are completely tax-free after a one-year retention period.

“Additionally, earnings from cryptocurrency sales of up to €600 per calendar year remain tax-free,” the company added, noting that previously, “when it comes to withdrawing staked cryptocurrencies, this tax-free retention period is a minimum. of 10 years.”

Citing the letter published by the Ministry of Finance, cryptocurrency consultant Patrick Hansen explained on Twitter:

The sale of the purchased crypto assets will remain tax-free after one year, even if they are used for staking/borrowing.

Parliamentary Secretary of State Katja Hessel commented: “For individuals, the sale of purchased bitcoin and ether is tax-free after one year. The period does not extend to 10 years, even if, for example, Bitcoin has previously been used for lending or the taxpayer has provided ether as equity to someone else.”