Bitcoinist | Feb 10, 2021 | 10:49

FreeBitco.in, one of the oldest and longest-running Bitcoin gaming sites, respected by the BitcoinTalk and the greater crypto community, has revealed that it is offering exclusive benefits for FUN token holders as part of a new premium program.

Here’s what this exclusive opportunity entails and how it could be an incredible opportunity for users of the platform and investors alike.

Search Google for “free Bitcoin” and among the top results after skipping past Bitcoin Cash faucets posing as the real thing is none other than FreeBitco.in.

FreeBitco.in is a provably fair online Bitcoin game that lets you – as the name implies – win free BTC. The game itself has grown over the years from a daily faucet claim to now include prizes and so much more. The community itself has also exploded.

The massive growth in the online community combined with longevity and dominance in the space has created an opportunity for a cryptocurrency token to be integrated into the core experience and provide a host of user benefits.

And while FreeBitco.in will always offer free BTC, the popular and iconic crypto gaming site is now embracing the cryptocurrency Fun Token as part of a new premium program.

FunFair (FUN) is a token designed to underpin the online gaming ecosystem and is an ideal choice for FreeBitco.in as the seventh-largest online casino in the world, according to SimilarWeb. 

FreeBitco.in and FUN combined bring members of the community a variety of exclusive benefits. The sheer size of the community itself means that FUN will soon be integrated into a $600 million per year iGaming platform and immediately reach over 41 million registered users.

And because FreeBitco.in is leveraging the FUN token, demand for the asset is already rising, making it an unprecedented opportunity for investors to maximize ROI. FUNUSD has already completed a “10x” since the start of 2021 and it is just the beginning.

FunFair is listed on top cryptocurrency exchanges such as Binance, Bitfinex, OKEx, and Uniswap. Free Bitco.in users who buy FUN tokens get up to 1% cashback on certain BTC wagers and games. Holding FUN tokens also lets users earn up to 16 spins on the Wheel of Fortune. Prizes consist of iPhones, a Rolex, or up to $15,000 in free BTC.

FreeBitco.in users are automatically offered up 4.08% interest on BTC balance, but by holding Fun tokens, users can bolster the APR to as high as 5.10%. 

The premium program launches on March 15, 2021. Anyone interested in taking full advantage of all the “ FUN ” should consider FUN tokens before the demand takes over, and like we’ve seen with other cryptocurrencies, a supply shock leaves late investors wishing they bought sooner.

Investors can be sure that FunFair has long-term value, further improved by the ongoing partnership and premium program with FreeBitco.in. The company saw over $600 million wagered in 2020 alone and a 30% year over year increase. At that rate and the current crypto market growth, Free.Bitco.in could soon be one of the largest websites in the entire world, not just in the online casino or bitcoin gaming space.

To learn more, visit the official website.

Disclaimer: The information presented here does not constitute investment advice or an offer to invest. The statements, views, and opinions expressed in this article are solely those of the author/company and do not represent those of Bitcoinist. We strongly advise our readers to DYOR before investing in any cryptocurrency, blockchain project, or ICO, particularly those that guarantee profits. Furthermore, Bitcoinist does not guarantee or imply that the cryptocurrencies or projects published are legal in any specific reader’s location. It is the reader’s responsibility to know the laws regarding cryptocurrencies and ICOs in his or her country.

Danal Fintech, a subsidiary of Danal, one of the largest payment companies in South Korea, today announced that they are joining the ICON blockchain ecosystem, the largest decentralized network in Korea by market capitalization. Danal Fintech will integrate ICON’s cryptocurrency ICX into Paycoin, its global payments and remittance app. This will allow Paycoin’s 750,000+ users to pay in ICX at any of Danal’s 60,000 merchant partners, including 7-Eleven, KFC, and Domino’s Pizza. “With PayPal recently announcing its plans to support cryptocurrencies, we’re starting to see major acceleration in crypto adoption by payment apps and fintech companies in Asia,” said Min Kim, ICON project Founder. “Now with Paycoin, it’s easier than ever for people to buy and spend their ICX at thousands of Danal’s merchant partners.” “Paycoin is one of the first virtual asset apps being used commercially in Korea and ICON is one of the largest blockchain projects in Korea. Through this partnership between the two projects, we expect to bring virtual assets one step closer to our daily life,” said Ted Hwang, CEO of Danal Fintech. “We will continue to expand business scope through various partnerships in the future.” Danal Fintech will also become an ICON Public Representative, or P-Rep, the title given to consensus and governance block validators on the ICON Network. P-Reps like Danal Fintech play key roles in the ICON Network such as block creation and verification, decision making on network policy, and expansion of the overall ICON ecosystem. P-Reps are elected by delegation of stake by the ICON community, and help keep the network stable with technical infrastructure support. Danal Fintech is part of Danal Co. Ltd, one of South Korea’s largest payment companies. Danal provides integrated payment solutions to its partners, from credit and debit cards to mobile billings and more. With more than 20 years in business, Danal accounts for half of the market share in mobile billings, equivalent to $5.5 billion USD annually. Danal Fintech focuses on blockchain-based payment solutions, and launched Paycoin in 2019 as one of the first apps for using virtual currencies in retail payments. Danal’s Paycoin app reduces intermediaries in existing payment processes, lowers transaction fees, and speeds up settlement cycles; all in a safe and convenient payment environment. The app makes it easy for ICX holders to spend their cryptocurrency at both online and offline retailers all over South Korea. Shortly after joining as a P-Rep, Danal Fintech will start the integration of ICX into the Paycoin payment application. At its completion, ICON users will be able to deposit and spend their ICX with the Paycoin app.

CoinPoker – the flagman of the industry, the biggest and the oldest pure crypto poker room is the first to introduce USDT as the in-game currency, solving the ever prevailing volatility issues and creating grounds for accelerated growth. Alongside launches two promotions giving away 100,000 GTD in prizes. 

The changes will finally allow the poker community to play using chips pegged to dollar value, while at the same time offering the lowest rake in the industry and verifiably fair decentralised card shuffling mechanism – a trio never seen in the history of online poker.

With expert advisors, poker elite and community supporting the need for a change, USDT was an obvious choice as it matched the high criteria the room had for the coin: stability, transaction speed, and the overall reliability. 

In addition, USDT is simple to use when it comes to crypto newbies: going from fiat on users‘ bank account to USDT on a poker account and vice versa can be done in a matter of hours. CoinPoker also allows its users to deposit and withdraw in BTC and ETH making the most out of the in-app currency conversion tool.

Looking from a player’s side USDT has the obvious superiority when it comes to providing liquidity and a hedge against crypto market volatility. The tokens are pegged to a fiat money making this stablecoin less risky than typical cryptocurrencies therefore safe for both newcomers to the poker app and poker pros who will always know their bankroll in terms of fiat value.

USDT will work in perfect balance with CHP token, a predecessor in-game currency of CoinPoker, which won’t be a must for playing, however will guarantee exclusive privileges and perks for its users and holders: rakeback, extra leaderboard points, exclusive access to the sportsbook section and discounts on withdrawal fees. Reportedly more benefits to come in the nearest future. 

It’s worth noting that CoinPoker is a crypto poker room with the lowest rake in the industry and huge promotions giving away thousands in fiat value each week. This is also the first poker room that returns 100% of the rake back to players in various shapes and forms.

Seeing what’s on the table makes it obvious that the combination of the stablecoin USDT as an in-game currency and CHP as a bonusing fuel is set for a long term success which is a must to take advantage of as a player.

USDT will become the official CoinPoker in-game currency on the 1st, October. The room is marking this significant date by giving away 100,000 GTD in prizes. 

Players will be invited to enjoy ‘Crypto Series of Poker’ – the biggest series of crypto poker tournaments that have already become a tradition on CoinPoker, while Cash players will be treated to a two week Leaderboard rewarding a total of 100 places! 

Once registered don’t forget to invite your friends to do the same since CoinPoker referral program awards 30% of what the referrals rake. 

Download and start playing!

Initial coin offerings, known as ICOs for short, are a crowdfunding system for the funding and development of blockchain companies and cryptocurrency start-ups.

From 2018 until somewhat recently, ICOs had seemingly lost popularity. For now, ICOs have seemed to reclaim their former glory, leading to speculations of potential "red-tape" in the form of regulatory action anticipated by many, with authorities such as the SEC recently cracking down on Ripple, for instance. These situations do nothing for ICOs in regards to maintaining their relevancy, along with their ability to compete with traditional seed-investment methods.

Thus, whether you're a seasoned crypto-head or just an everyday investor, it is vital to weigh any pro's and con's while understanding any risk of potential legal upendings in the landscape that could affect your investment before jumping in.

The first ICO distributed cryptocurrency was from Ripple Labs, with their controversial coin known as XRP. Ripple Labs began building a payment system that would become known as Ripple. In early 2013, approximately 100 billion XRP tokens were minted upon the ICOs completion, followed by token distribution.

Since then, numerous blockchain and cryptocurrency projects have successfully financed their start-up through ICOs. For instance, Lisk, whose ICO garnered around $5 million in early 2016, has funded several other cryptocurrencies with ICO's of their own. Ethereum (ETH) would, however, unequivocally become the most popular ICO funded cryptocurrency - it's hard to believe now that the Ethereum Foundation was briefly selling ETH for under a dollar in 2015!

Below I have listed several steps behind a successful token pre-sale, aka an ICO:

After an ICO's completion, once the sold tokens have completed the designated distribution phase (outlined in the white paper, usually), they become available for buying, selling, and public exchange.

Let us dive deeper into the many potential benefits of investing in an ICO:

Because the blockchain is a public ledger, investors can rest assured that none of their funds can fall victim to a dishonest team with ulterior motives who may decide to siphon out the funds elsewhere, in what is known as a classic exit-scam. 

Yes - some scammers may create ICOs with the sole intent of ripping off investors for their hard-earned digital assets and currency. As always, the most crucial practice is that you do your own research!

In the end, ICOs are a game-changer for those looking for a viable yet modern investment strategy.

Another game-changer: the Swapfolio trading terminal and staking dApp - visit the link here to check it out, or come by our Telegram! It's a great way to learn about Swapfolio from not just the team but from passionate members of the community itself!

Register now at Publish0x to claim your $$$. It only takes 15 seconds and it's free.

The Crypto.com allows you to securely buy, sell, store, send, track, and spend crypto.

If you sign up via this Crypto.com $25 Bonus Referral Link and stake at least 2,500 CRO in a Metal Visa Card for 6 months, you will earn a $25 bonus worth of CRO.

Please note that the current value of 1 CRO token is around $0.08 as of 2/11/2021, so the value of the 2,500 CRO that is needed to be staked in order to qualify for the $25 bonus is equal to about $200 USD.

1. Register with your email address at this Crypto.com $25 Bonus Referral Link to get started.

2. Download the Crypto.com App and sign up with the same email address.

3. Confirm your email address by clicking the link in the email they send.

4. Complete the verification process by submitting your ID in the app.

5. After verification is complete (usually takes up to 10 minutes), your $25 USD worth of CRO bonus will immediately appear in your CRO Wallet.

6. Visit the Rewards page in the app via the Home Screen Gift Icon to see your locked sign-up bonus and click the “Unlock Now” button.

7. To unlock your $25 sign-up bonus, you must stake at least 2,500 CRO in a Crypto.com Metal Visa Card for 6 months (2,500 CRO value = $200 USD as of 2/11/2021).

8. To stake the minimum 2,500 CRO, you can select the Ruby Steel (red) card version, which offers 2% back in CRO Rewards with a 100% Spotify rebate and no monthly fees, no annual fees, and no issuance fees.

9. You can purchase the 2,500 CRO for the stake via credit card (no fees), crypto wallet, or bank transfer.

10. As soon as you stake the 2,500 CRO, your $25 USD bonus worth of CRO will instantly be unlocked and available to sell, trade, or withdraw as you please.

11. At the end of the 6-month stake period, you can unlock your 2,500 CRO that has been staked by tapping the “Unlock” button in your CRO Wallet.

12. You can then withdraw your 2,500 CRO in staked funds, trade for another crypto, or spend it via your Metal Visa Card.

After you sign up for Crypto.com, you can participate in the Crypro.com referral program.

To share the Crypto.com referral, just go to the Home Screen Gift Icon in the app.

When you refer a friend who stakes at least 2,500 CRO for a Metal Visa Card for a minimum of 6 months, you will both earn $25 worth of CRO.

In order to qualify, your friend must sign up via your referral link, confirm their email address, pass verification, and stake at least 2,500 CRO for a MCO Visa Card.

You will receive your $25 USD in CRO in your CRO Wallet instantly once your referrals have completed the staking process.

The $25 bonuses are credited to both parties at the start of the staking period, not at the end of 6 months, so you get your bonus reward right away.

You can share your referral link/code with as many friends as you like and earn an unlimited amount of bonuses.

Learn more about the Crypto.com referral program.

CoinPoker – the flagman of the industry, the biggest and the oldest pure crypto poker room is the first to introduce USDT as the in-game currency, solving the ever prevailing volatility issues and creating grounds for accelerated growth. Alongside launches two promotions giving away 100,000 GTD in prizes.

The changes will finally allow the poker community to play using chips pegged to dollar value, while at the same time offering the lowest rake in the industry and verifiably fair decentralized card shuffling mechanism – a trio never seen in the history of online poker.

With expert advisors, poker elite, and community supporting the need for a change, USDT was an obvious choice as it matched the high criteria the room had for the coin: stability, transaction speed, and the overall reliability.

In addition, USDT is simple to use when it comes to crypto newbies: going from fiat on users‘ bank account to USDT on a poker account and vice versa can be done in a matter of hours. CoinPoker also allows its users to deposit and withdraw in BTC and ETH making the most out of the in-app currency conversion tool.

Looking from a player’s side USDT has the obvious superiority when it comes to providing liquidity and a hedge against crypto market volatility. The tokens are pegged to fiat money making this stablecoin less risky than typical cryptocurrencies therefore safe for both newcomers to the poker app and poker pros who will always know their bankroll in terms of fiat value.

USDT will work in perfect balance with CHP token, a predecessor in-game currency of CoinPoker, which won’t be a must for playing, however, will guarantee exclusive privileges and perks for its users and holders: rakeback, extra leaderboard points, exclusive access to the sportsbook section and discounts on withdrawal fees. Reportedly more benefits to come in the nearest future.

It’s worth noting that CoinPoker is a crypto poker room with the lowest rake in the industry and huge promotions giving away thousands in fiat value each week. This is also the first poker room that returns 100% of the rake back to players in various shapes and forms.

Seeing what’s on the table makes it obvious that the combination of the stablecoin USDT as in-game currency and CHP as a bonusing fuel is set for long-term success which is a must to take advantage of as a player.

USDT will become the official CoinPoker in-game currency on the 1st, October. The room is marking this significant date by giving away 100,000 GTD in prizes.

Players will be invited to enjoy ‘Crypto Series of Poker’ – the biggest series of crypto poker tournaments that have already become a tradition on CoinPoker, while Cash players will be treated to a two-week Leaderboard rewarding a total of 100 places!

Once registered don’t forget to invite your friends to do the same since CoinPoker referral program awards 30% of what the referrals rake.

Download and start playing!

Featured image: OnlineGamblingSites

W hat happens when an unstoppable force meets an immovable object? Well, sometimes they join forces and form an undisputed hype train supreme.

This article was originally published on MyWallSt — Investing Is for Everyone. We Show You How to Succeed.

Tesla (NASDAQ: TSLA) is that unstoppable force, confirming yesterday that it had acquired $1.5 billion worth in Bitcoin, the immovable object. Of course, the news sent Bitcoin above $40,000 once more, while Tesla stock enjoyed its own bump. 

It means that Elon Musk is taking a big, albeit potentially profitable risk.

This is a rather unprecedented situation for a manufacturing company, but Tesla and its eccentric CEO have never been ones to take the beaten path. With a number of successively profitable quarters on hand, S&P 500 inclusion, a ride-or-die following, as well as $19 billion in cash and equivalents as of its most recent filing, Tesla can likely afford to make this risky investment.

But the danger of Bitcoin’s volatility remains,

In 2013, for example, it started at around $13 and spiked to over $1,000 by December. In 2017, it went from about $1,000 to around $20,000. In early 2020, it had sunk below $4,000 at one point before its dizzying rise to nearly $45,000 yesterday.

On the other hand, such a large investment could very quickly become very valuable, helping Tesla to maintain its status as a profitable company. After all, many Bitcoin bulls see the currency eventually hitting $150,000. 

Either way, the move is a game-changer and could be the catalyst for other big companies to move into Bitcoin. Also, by extension, every investor that owns Tesla (or even just an S&P 500 fund) has exposure to Bitcoin now as well.

MyWallSt makes it easy for you to pick winning stocks. Start your free trial with us today— it's the best investment you'll ever make.

Kiss bassist Gene Simmons is making a large bet on the sixth largest crypto by market cap.

In a new tweet, the famed musician tells his 940,500 followers that he purchased hundreds of thousands of dollars worth of Cardano (ADA).

“I just bought $300,000 of Cardano (ADA). I’m not a financial analyst and I’m not telling you to buy or not to buy. Simply letting you know what I am doing and what I believe in. Why? Because I believe it’s going up… and it’s always up to you to research & decide.

Why did I buy Cardano (ADA)? Well, for one thing, it’s affordable to almost everyone. It’s pennies compared to my other holdings like Bitcoin, which is over $50,000 a single coin. I believe everyone should be able to afford cryptocurrency. And here is one I believe in.”

Simmons says he also believes in the project because it is backed by one of the Ethereum co-founders, Charles Hoskinson.

— Gene Simmons (@genesimmons) February 19, 2021

At the time of Simmons’ tweets, ADA was sitting at around $0.90, but it has since skyrocketed to a new 52-week high of $1.09.

Earlier this month, the rock icon revealed that he owns or plans to own three large-cap crypto assets.

“I’m not recommending any of this to anyone. But yes, I bought and/or will own Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC) and others.”

As for his BTC holdings, Simmons says he invested millions of dollars in the leading crypto asset.

“Bitcoin I bought seven-figure months ago. It’s been very good to me. Do I believe it’s going even higher than the recent record breaking surges? You bet!”

Featured Image: Shutterstock/Tiziano Cardaci

Bitcoin today smashed through its short-term “bearish ceiling” set after running into resistance earlier this week. With the level now out of the way and cleared, the asset’s larger parabolic move continuing is “imminent,” according to one crypto capital manager.

Here’s what the rest of the parabolic move might look like, once the uptrend regains its previous momentum.

Indecision struck when the next day the impulse didn’t continue, resulting in a doji and a drop on the next day. Newly attained support held, and already Bitcoin has taken out the short-term bearish ceiling set when the uptrend hit resistance recently.

With any sort of resistance now out of the way, one crypto capital manager believes that the longer-term “parabolic” move continuing is “imminent.”

When assets go “parabolic” an increasingly higher base is built until it all comes tumbling down. Ross’s expectations fall in line with the idea that the consolidation phase between $40,000 and $30,000 was yet another base built, and the parabola will soon continue.

In terms of how high things can go, a long-term uptrend channel shows just how far the larger parabolic move has left to climb, along with comparisons to past uptrends to confirm the legitimacy of the expectation.

Wherever the move ends up taking the price per Bitcoin to ultimately, what comes next is yet another bear market and a chance to accumulate more BTC to do it all again.

An attempt to capitalize on the ongoing hype around Dogecoin has backfired for the crypto wallet app Freewallet after it was called out online in a tweet from Elon Musk.

Freewallet, riding on the Elon-Doge rocket of publicity, released a tweet telling people to buy and exchange Dogecoin in its crypto wallet app with a tag of the man himself.

Tagging Elon Musk comes with its own risk, as apparent from the blunt reply:

— Elon Musk (@elonmusk) February 10, 2021

An hour later, Musk decided to expand on his claim by jumping from his role of executioner to an educator:

As expected, Musk’s followers rallied behind him and joined in on the action, leading to an entourage of critical posts being directed towards the crypto app. Full thread here.

Musk’s criticism of crypto wallets and his love for Dogecoin shouldn’t come as a surprise. The price of Dogecoin soared by 60% last week in response to a tweet he made, in which he posted an iconic scene from the Lion King that’d been edited to show him holding up the Shiba Inu dog, the face of Dogecoin, instead of Simba.

The distaste for crypto wallets and trading platforms from Musk is as equally expected. It follows his open criticism of the decision taken by several platforms to cease trading of Gamestop shares after the price of the company soared to nearly $400 a share.

The hype around Dogecoin shows no signs of slowing down, as other celebrity figures, including Snoop Dogg and Gene Simmons, join Musk’s attempt of taking the meme coin to the moon. The value of Dogecoin has jumped by over 572% in the last month.

Who keeps your keys? Let us know in the comments section below.

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

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Source : Bitcoin

Kiss bassist Gene Simmons makes a large bet on Cardano’s ADA. The musician hopped on Twitter and told his followers that he purchased hundreds of thousands of dollars worth of Cardano.

“I just bought $300,000 of Cardano (ADA). I’m not a financial analyst and I’m not telling you to buy or not to buy. Simply letting you know what I am doing and what I believe in. Why? Because I believe it’s going up… and it’s always up to you to research & decide,” Simmons said.

He continued and posted this: “Why did I buy Cardano (ADA)? Well, for one thing, it’s affordable to almost everyone. It’s pennies compared to my other holdings like Bitcoin, which is over $50,000 a single coin. I believe everyone should be able to afford cryptocurrency. And here is one I believe in.”

— Gene Simmons (@genesimmons) February 19, 2021

Simmons says he also believes in the project because it is backed by one of the Ethereum co-founders, Charles Hoskinson.

According to the online publication the Daily Hodl, earlier this month, the rock icon revealed that he owns or plans to own three large-cap crypto assets.

“I’m not recommending any of this to anyone. But yes, I bought and/or will own Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC) and others.”

As for his BTC holdings, Simmons says he invested millions of dollars in the leading crypto asset.

“Bitcoin I bought seven-figure months ago. It’s been very good to me. Do I believe it’s going even higher than the recent record breaking surges? You bet!” he said.

It’s been just revealed that the former Ethereum Co-Founder, Founder of Cardano and CEO of IOHK, Charles Hoskinson, announced the launch of an enterprise blockchain framework that aims to provide financial services to billions of people living in African countries.

Forbes recently addressed the subject in one of their articles.

Known as “Atala” (named after a butterfly that resides in Florida), IOHK’s framework will serve as a solutions provider for developers, companies and governments looking to implement new products.

After the latest all-time high above $52,600, BTC has calmed slightly and has stalled beneath $52,000. In contrast, some altcoins have exploded in value, including another fresh record for Binance Coin, and have reduced bitcoin’s dominance over the market to below 60.5%.

Most large-cap alternative coins have remained calm similarly to bitcoin in the past 24 hours. Ethereum and Litecoin are up by about 2% to $1,920 and $230, respectively. Simultaneously, Chainlink, Bitcoin Cash, Polkadot, Cardano, and Ripple have painted minor losses.

However, Binance Coin is the apparent exception with a massive 50% surge once again. Hence, BNB marked another ATH above $270. The native crypto of the popular exchange more than doubled its value since Wednesday when it traded at $125. Thus, BNB has surpassed Tether as the third-largest cryptocurrency by market cap.

Interestingly, BNB is not the only exchange coin that has been surging lately. OKEx’ OKB is up by 50% in two days to $12, Huobi’s HT jumped by 60% to nearly $20, and FTX’s FTT broke above $30 after an increase of 70% since Monday.

In the past 24 hours, PancakeSwap has added the most value of 80% to $18. Golem (70%), Venus (47%), Ravencoin (37%), Voyager Token (26%), ICON (22%), and Ren (20%) follow.

In general, coins built on top of the Binance Smart Chain are charting massive increases in the past couple of days prompted by the surge of new investors exploring the ecosystem.

Ultimately, the total market cap also went for a new record as it touched $1.6 trillion.

The primary cryptocurrency also enjoyed the past several days as it broke above $50,000 for the first time and went further to its latest record at north of $52,600 yesterday, as reported.

Nevertheless, the asset calmed and even dipped to $50,500 in the following hours. However, the bulls didn’t allow any further drops and pushed the price to its current level of about $51,500.

Despite reclaiming some of its value, the rising altcoins have reduced BTC’s dominance once again. The metric comparing bitcoin’s market capitalization with all other cryptocurrency assets has dropped to 60.3% after rising above 62% just a few days ago.

Source

An attempt to capitalize on the ongoing hype around Dogecoin has backfired for the crypto wallet app Freewallet after it was called out online in a tweet from Elon Musk.

Freewallet, riding on the Elon-Doge rocket of publicity, released a tweet telling people to buy and exchange Dogecoin in its crypto wallet app with a tag of the man himself.

Tagging Elon Musk comes with its own risk, as apparent from the blunt reply:

— Elon Musk (@elonmusk) February 10, 2021

An hour later, Musk decided to expand on his claim by jumping from his role of executioner to an educator:

As expected, Musk’s followers rallied behind him and joined in on the action, leading to an entourage of critical posts being directed towards the crypto app. Full thread here.

Musk’s criticism of crypto wallets and his love for Dogecoin shouldn’t come as a surprise. The price of d ogecoin soared by 60% last week in response to a tweet he made, in which he posted an iconic scene from the Lion King that’d been edited to show him holding up the Shiba Inu dog, the face of Dogecoin, instead of Simba.

The distaste for crypto wallets and trading platforms from Musk is as equally expected. It follows his open criticism of the decision taken by several platforms to cease trading of Gamestop shares after the price of the company soared to nearly $400 a share.

The hype around Dogecoin shows no signs of slowing down, as other celebrity figures, including Snoop Dogg and Gene Simmons, join Musk’s attempt of taking the meme coin to the moon. The value of Dogecoin has jumped by over 572% in the last month.

Who keeps your keys? Let us know in the comments section below.

Purchase Bitcoin without visiting a cryptocurrency exchange. Buy BTC and BCH here.

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.