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How Is Crypto Changing the Global Economy? — Explanation by WhiteBIT CEO Volodymyr Nosov

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Crypto Betting Techniques to Learn Now

The rapid development of innovative technologies has become our new reality. We live in a time of global digitalization, the growing popularity of various payment methods, the development of the meta-universe, and the emergence of NFT tokens.

CEO and co-founder of WhiteBIT, Volodymyr Nosov (Ukraine), claims that all these new technologies, especially blockchain, will become integral to our future and buying and selling crypto. Moreover, cryptocurrency is already shaping our world and future.

The article focuses on how cryptocurrency is changing and shaping the global economy, according to WhiteBIT’s CEO, Volodymyr Nosov. The readers will also learn more about WhiteBIT, Ukraine’s and Europe’s largest crypto exchange.

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Crypto is changing the world

One of the most significant cryptocurrency appeals is the absence of a third party or intermediary. Instead of paying a third party, such as the bank, to conduct a financial transaction, users opt for a peer-to-peer (P2P) method.

This peculiarity lowers transaction fees. Moreover, blockchain enables faster transactions. Typically, it takes several business days to complete a transaction using traditional methods. However, blockchain makes the process almost instantaneous.

Volodymyr Nosov claims that financial transactions are safe, private, and anonymous. If necessary, the user can easily find information on the blockchain about the activity of a particular address.

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The usage of blockchain to conduct transactions is as simple as possible. It takes copying and pasting the crypto wallet address to send or receive funds. However, you must ensure you copy the correct address to avoid transferring money to the wrong crypto wallet.

Blockchain technology is already changing the world for the best. For instance, Kenya has long had an issue with women doing business. The traditional banking system forces women in Kenya to ask their male relatives to help them open a bank account. In many communities in Kenya, women are not even allowed to own property, let alone have bank accounts and do business.

However, cryptocurrency offers a solution to this problem. People in Kenya have been actively using cryptocurrency for several years. Today, women can run their businesses and receive payments in cryptocurrency. Thus, cryptocurrency enables women to bypass outdated and sexist rules.

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People can now run their businesses on their mobile phones. They get more control over financial transactions. Most financial services, such as exchange, purchase of digital assets, or trade, are now available at one’s fingertips. Moreover, these services are secure, and people don’t have to worry about personal information leakages.

Adapting to the new crypto world

WhiteBIT’s CEO, Volodymyr Nosov, believes that blockchain technology will help shape the new world of finance. Blockchain technology facilitates financial transactions and makes them faster and cheaper.

Many companies have started to adopt blockchain technology since they understand that the world is changing. They know it’s the technology of the future, and those who fail to keep up with these changes will be left far behind.

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The latter also applies to companies from European Union countries. EU countries seem to be reluctant to adopt blockchain technology, specifically cryptocurrency. EU countries believe they already have a stable and efficient financial system, so there is no need for a change.

On the one hand, having a financial system that has been reliable for several centuries is a blessing. On the other hand, not implementing changes is not pragmatic. However, most European nations consider themselves “pragmatic” people. If European countries don’t stop seeing cryptocurrency and blockchain as “risks,” they will slow down their progress.

One of the biggest problems regarding cryptocurrency in Europe is the lack of regulatory standards for all businesses using blockchain technology.

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This lack of a unified set of standards leads to the lack of transparency within the crypto market within the European Union. WhiteBIT’s CEO Volodymyr Nosov claims that if Europe wants to dominate in the future, all EU countries should change how they approach blockchain technology and cryptocurrency.

About WhiteBIT

WhiteBIT is a reliable centralized cryptocurrency exchange. WhiteBIT is the largest cryptocurrency exchange not just in Ukraine but in Europe overall. The co-founder and CEO of WhiteBIT is Volodymyr Nosov, who was born in Kharkiv, Ukraine.

Volodymyr Nosov created the company in 2018 in Kharkiv. It was a small cryptocurrency exchange in Kharkiv, which grew significantly to become one of Europe’s most popular trade platforms.

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Today, WhiteBIT has over 3 million users from more than 190 countries. WhiteBIT offers 400+ trading pairs and the most popular digital assets, such as Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Tether (USDT), Solana (SOL), Cardano (ADA), etc.

WhiteBIT is more than just an exchange. The company offers a trading platform with helpful tools and features. Once users create a WhiteBIT account, they get access to the following tools and services:

  1. DEX (decentralized exchange).
  2. A WhiteBIT cryptocurrency wallet to safely store funds;
  3. A trading platform;
  4. A WhiteBIT exchange;
  5. Margin trading;
  6. Futures trading;
  7. P2P exchange;

The company keeps growing and offering valuable tools for clients to get a profit from their funds.

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Parasshuram L Shalgar: A distinguished Senior Editor, Parasshuram boasts an impressive 20+ years in the media realm. His extensive experience reflects a profound understanding of the industry, resulting in insightful and authoritative content that resonates with diverse audiences.

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