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On March 2, Jonathan Silverblood, the creator of the Bitcoin Cash name system Cash Accounts, published a user-friendly wallet design he’s been working on for a long time. The Cashual Wallet concept is a BCH client specifically designed for ease of use and features the Cash Accounts name system integration. Also read: Payglobal Provides Cryptocurrency to Fiat Transfers With Existing Bank Cards Developer Publishes Cashual Wallet Concept to Inspire Developers to Build Easy to Use Wallets This week BCH developer and creator of Cash Accounts Jonathan Silverblood introduced a new wallet concept he’s been working on called the Cashual Wallet. Six months ago Silverblood created a mockup of what the wallet would look like but was faced with an obstacle. Silverblood’s initial design involved a peer-reviewed wallet library that could cooperate with his mockups, which did not exist back then. However the features are now being integrated into the open source libraries used by Bitpay, Silverbood explained this Saturday. In a blog post, Silverblood introduced the Cashual Wallet concept as “a serious attempt at implementing a user-friendly wallet for non-technical users.” “Six months ago I wrote an article outlining some design principles and guidelines for how to make a user-friendly wallet. I wanted to offer feedback and inspire developers to build more user-friendly wallets,” Silverblood detailed. The developer outlined what he thinks are the most important features for non-technical users when they first begin using a cryptocurrency wallet. To Silverblood, onboarding requires a simplified user experience (UX) and emphasized what he thinks is more important when it comes to the wallet’s UX. One obstacle is language barriers and Silverblood detailed that Cashual Wallet will use the language of the device’s operating system where possible, but default to English if there is no available translation. The native fiat currency displayed on the wallet will work similarly as the wallet will ask the device operating system for the user’s local currency and pre-select the appropriate option for the user. Additionally, Silverblood’s wallet allows the user to change from day to night mode depending on preference. A Strong Implementation of Cash Accounts Perhaps the most user-friendly aspect of Cashual Wallet is that not only does it use traditional BCH identifiers for payment data, but it also utilizes the Cash Accounts protocol. Cash Accounts is an open-source program that uses the BCH chain to create bound technical identifiers to human readable and user-friendly account names. “In order to allow the user the best possible experience they will be asked for a name to use to receive payment on the setup screen, and name registration is automated,” reads the introductory post to Silverblood’s Cashual Wallet. When the user enters a name to use for their Cash Account, the wallet has a reusable address, it contacts a registration service and asks it to register the name with the user’s payment information,” Silverblood’s concept description reveals. “When the registration is complete the wallet verifies the information before using it.” The post continues: Immediately after the user has created their wallet they are shown an empty home screen — There is a history entry for the wallet creation and a pending entry for account registration. Silverblood adds that until the Cash Accounts registration is completed the user can utilize the wallet in a traditional manner. Essentially a new user would have to use a technical identifier tethered to the client instead. The China-based Ifwallet recently implemented Cash Accounts into the firm’s light client for Android and iOS. The Cash Accounts programmer also emphasized there are improvements which he has “not yet implemented in the design.” Moreover, the developer explained he would appreciate all the help he can get from other programmers with the BCH-centric Cashual Wallet. “Like all my work in the field the source code is available and anyone is free to use it according to the MIT license,” Silverblood’s post concludes. What do you think about Silverblood’s Cashual Wallet concept? Let us know what you think about this subject in the comments section below. Image credits: Shutterstock, Visa, Payglobal, and Pixabay. Need to calculate your bitcoin holdings? Check our tools section. The post Cash Accounts Developer Publishes User-Friendly Cashual Wallet Concept appeared first on Bitcoin News. View the full article

Interest in cryptocurrency is often interlinked with a passion for personal freedom and a desire to shape the future for the better. A recent example of this is a team of Bitcoin early adopters who are building a seasteading home off the coast of Thailand. Also Read: In the Daily: Binance Trading Competition, Bitdeer BCH Mining Plan, Voyager Merges Ethos Private Seasteading for $150,000 A short video documentary released by the Seasteading Institute on its Youtube channel showcases the establishment of a small seastead 12 nautical miles off the coast of Phuket, Thailand. The installation is now the home of Chad Elwartowski and Nadia Summergirl, a couple who wanted to move the futuristic idea from just a concept to a practical reality. The people behind the project were Bitcoin early adopters who used the profit from that investment to fund their dwelling. They spent around $150,000 on the seastead, $30,000 more than they expected. “As it is experimental we ended up adding and adding and adding,” Elwartowski told Reason’s Brian Doherty. According to the blog of the seastead construction team, Ocean Builders, $150,000 is the target minimum price for a barebones facility. “Closer to $200,000 would likely give you a move-in ready seastead with a nice kitchen, water, solar electric, etc.” From French Polynesia to Thailand Seasteading, a combination of the words sea and homesteading, is the idea of creating permanent habitats at sea, beyond the territorial control of existing governments. Promoters hope that one day large autonomous seasteading cities may be recognized as sovereign states in their own right and provide a platform for experimenting with new forms of governance to ensure citizens’ liberty. Back in May 2018 it was reported that a seasteading project had reached a memorandum of understanding with French Polynesia with the aim of creating an independent island with its own cryptocurrency. Elwartowski and Summergirl had been waiting to build their seastead as part of that venture, but when progress there stopped they decided to go it alone in Thailand. They have no agreements with the Thai government but don’t anticipate any friction from authorities. What do you think about this seasteading home built by early Bitcoin adopters? Share your thoughts in the comments section below. Images courtesy of Shutterstock. Verify and track bitcoin cash transactions on our BCH Block Explorer, the best of its kind anywhere in the world. Also, keep up with your holdings, BCH and other coins, on our market charts at Satoshi’s Pulse, another original and free service from Bitcoin.com. The post Bitcoin Early Adopters Build Seasteading Home off the Coast of Thailand appeared first on Bitcoin News. View the full article

For many leading markets, February produced the largest monthly volume since the first quarter of last year, with 30-day BTC trade activity surpassing $200 billion, and ETH exceeding $100 billion. Also Read: Report: Quadriga’s 6 Cold Wallets Have Been Without Funds Since April 2018 BTC Volume Surpasses $200 Billion for February February saw the highest volume for BTC trade in one year, with BTC pairings generating nearly $206.37 billion in trade during the last 30 days. The increase in trade activity was driven by the run up to $4,000 during the middle weeks of February, with volume having since retraced amid sideways consolidation. The surge in activity comprised a 34% gain in trade activity month-over-month. USDT trade also produced its heaviest month of trade since the first quarter of 2018, with $177.12 billion worth of tether changing hands. USDT trade activity increased by 56.50% when compared with January. 30-Day ETH Volume Surpasses $100 Billion Monthly ETH trade activity reached a one year-high during 2018, with $104.46 billion worth of ethereum having been traded during the last 30 days. As such, ETH trade increased by 34.40% month-over-month. During February, EOS ranked as the fourth-most traded cryptocurrency for the fifth consecutive month. $33.24 billion worth of EOS were traded during the last 30 days, comprising a 54.75% gain in trade activity. February comprised the strongest month of EOS trade since May 2018. LTC ranked as the fifth-most-traded crypto asset for February, with $32.85 billion worth of litecoin changing hands. LTC saw a 93.58% month-over-month gain in volume, comprising the strongest month of trade since the first quarter of 2018. Bitcoin Cash and Dash Ascend Volume Rankings During February XRP was the sixth-most traded cryptocurrency of February for the second consecutive month, with $17.66 billion worth of XRP changing hands during the last 30 days. XRP trade activity increased by 30% month-over-month, however, failed to exceed the trade volume generated throughout December. BCH ascended two positions to rank as the seventh most traded crypto asset of the past 30 days with $8.91 billion worth of trade. Despite posting a 40.54% gain monthly trade, February comprised the second-weakest month of trade in more than 12 months. Dash re-entered the top ten after falling to 12th last month, ranking eighth with $6.22 billion worth of trade. February saw dash produce a 48.45% volume increase month-over-month, comprising the strongest month of trade since September. NEO Reclaims Top Ten Ranking NEO produced its strongest month in over 12 months, with $6.21 billion worth of NEO changing hands in the last 30 days. NEO comprised the ninth-most traded crypto asset during February, breaking into the top ten for the first time since November. NEO trade activity increased by 72.5% month-over-month. QTUM produced its strongest month of trade since the first quarter of 2018, generating $6 billion worth of trade in the last 30 days. Monthly QTUM trade increased 22% when compared with January ranking it as the 10th-most traded cryptocurrency during February. CKUSD comprised the 11th-most traded crypto asset during February with $5.87 billion worth of trade. February saw monthly CKUSD trade activity gain 38%, comprising the strongest month of trade since Q1 2018. ETC rose two positions to rank as the 12th-most traded cryptocurrency with $5.75 billion worth of trade in the last 30 days. February posted a 60% gain in monthly ETC volume, comprising the strongest month of trade since August. TRX Posts Significant Reduction in Monthly Trade Despite falling from the top ten, ZEC produced its strongest 30 days of trade since Q1 2018 for the second consecutive month, with $5.22 billion worth of ZEC changing hands. February saw ZEC volume increase by 4.4%, ranking as the 13th-most traded cryptocurrency. TRX comprised the only crypto asset of the top 15 to post a reduction in trade volume during February. $5.08 billion worth of TRX was traded during the last 30 days, ranking as the 14th most trade crypto asset. XLM posted its strongest month since the first quarter of last year, with $3.99 billion worth of XLM changing hands. XLM comprised the 15th-most traded cryptocurrency during February, with volume increasing 23%. BTT Ranks Among Top 20 BTT comprised the 16th-most traded crypto asset during February, with $3.86 billion worth of BTT having been traded. BNB made its second appearance among the top 20 in one year, ranking 17th with $2.84 billion in trade over the last 30 days BSV ascended one rank to comprise the 18th-most traded cryptocurrency during February, with $2.70 billion worth of trade. BSV trade activity increased 34.33% month-over-month. PAX saw a nearly 10% decline in monthly trade activity, slipping one position to rank as the 19th-most traded crypto asset with $2.01 billion in trade. TUSD ranked as the 20th-most traded cryptocurrency for the second consecutive month with $1.87 worth trade, a nearly 17% increase in trade volume. Do you expect volume to continue to increase heading into the second quarter of 2019? Share your thoughts in the comments section below! Images courtesy of Shutterstock At Bitcoin.com there’s a bunch of free helpful services. For instance, have you seen our Tools page? You can even lookup the exchange rate for a transaction in the past. Or calculate the value of your current holdings. Or create a paper wallet. And much more. The post Feb Volume Report: Leading Markets Post Strongest Month Since Q1 2018 appeared first on Bitcoin News. View the full article

Malta has been hyped up as the happy ending for crypto business who have trouble operating elsewhere, but there’s a problem: banks are reluctant to grant crypto startups business accounts until they’re properly licensed with the MFSA. This process can take up to six months for a first-round response, leaving many businesses unable to operate using local bank accounts. Also read: Only 39 Percent Pass Malta’s Cryptocurrency Exam A Banking Snag in Blockchain Paradise A recent report by the Times of Malta suggests that while crypto businesses have flocked to the world’s so-called blockchain haven, a task as simple as opening a bank account isn’t nearly as straight-forward as they had anticipated, with banks showing them the door until they’ve received the appropriate licensure from the Malta Financial Services Authority. Malta, a tiny island in the middle of the Mediterranean, has — thanks to its highly publicised commitment to becoming the “Blockchain Island” — made a name for itself in an industry where regulatory loyalty stretches as far as those countries that provide the most favorable support conditions. However, while many cryptocurrency startups, including high-profile exchanges like Binance, Bittrex, Okex, Bitbay, and Zebpay, have moved or extended operations from stricter regulatory jurisdictions to set up shop incorporating their businesses in crypto-friendly Malta, it appears the reality might not be as rosy. In reality, Malta is currently not the one-stop crypto business-shop the media reports on. Numerous service providers confirmed to the Times of Malta that banks are citing the reason for their rejection of account applications as being “outside their risk appetite.” Additionally, Parliamentary Secretary for Financial Services Silvio Schembri told the paper that a distinction should be made between blockchain and crypto operations since banks are less likely to do business with the latter. It’s Not Just Malta, It’s Everywhere Ian Gauci, a partner at Malta-based legal firm GTG Advocates, serves as an advisor on the Maltese government’s task force for blockchain strategy and deployment. In communication with news.Bitcoin.com, he noted that the scenario in Malta is symptomatic across the globe. Gauci, who is also the co-founder of the Malta Blockchain Association and lectures on Legal Futures and Technology Law at the University of Malta, noted that banks in both Malta and abroad are averse to risks. This, he added, cuts across different sectors and is not exclusive to the blockchain industry. In Malta, he said, the issue is exacerbated due to the fact that as a country it has installed a regime to cater for blockchain as well as cryptocurrencies, thus attracting the largest amount of innovators and operators to its shore. According to Gauci: These [cryptocurrency] outfits, like any other industry, need bank accounts to manage their operations. We have seen a slight opening from certain banks – albeit, in all honesty, it’s still minimal. I am sanguine, however, that once our regulatory regime is fully rolled out (which is imminent), banks can assess the sector from a different angle and in all probability be more receptive to this new industry. Blockchain Island, Blockchain Bank: Media Creations Alessandro Benigni, co-founder of crypto market research firm Coinsflare, told news.Bitcoin.com that Agribank was one of the first banks in Malta which seemed to be crypto-friendly, but even there, “they wouldn’t issue cards, you could only have access to the online platform to manage funds.” Benigni added that it’s important to keep one’s finger on the pulse, as banks are “constantly updating their policies,” as is to be expected from financial institutions on the high-profile island. Former AgriBank CEO Roderick Psaila is reportedly in the process of applying for a credit institution license with the Malta Financial Services Authority. His new venture, RnF Finance Limited, will open its doors to crypto companies, provided their due diligence procedures are sufficient. However, the media’s portrayal of RnF as “Malta’s first blockchain bank” has been blown out of proportion and is downright erroneous. Speaking to news.Bitcoin.com, he explained that such media reports are inaccurate: The reality is that RnF is not a bank and its application has still to be processed by the appropriate regulatory authorities. So in this respect, any reference to RnF as a bank would be misleading and damaging. Should a license be granted, the model will not emulate any traditional banking model, it will lead a new generation of service providers, always within the applicable banking and AML regulations. Separating Hype From Reality Hitherto, Malta has rarely made waves on the world stage. However, with the island’s dedicated insistence on becoming a regulatory utopia where cutting-edge tech in the digital economy flourishes from one corner of the land to the other, this is changing fast. Over and above blockchain, Malta is already a flourishing igaming destination and is now also involving itself in becoming AI- and medical marijuana-friendly. The Maltese parliament has big plans to be a destination leader in the digital economy. However, while the industry enjoys widespread support from Prime Minister Joseph Muscat, this doesn’t ensure direct translation to the Shangri-La the media suggests. With everyday operations being stilted by access to services as basic as a business account, the question remains whether positioning Malta as present-day crypto paradise has been too hasty, losing companies valuable time and money in the process. Emanuel Pulis, CEO of three Malta-based conferences (the Malta and AI Blockchain Summit, Cannabiz Summit World, and Sigma, World’s iGaming Village), confirmed to news.Bitcoin.com that banks are “fine” with opening bank accounts for blockchain operators but less likely for operations in crypto. With cryptos, he explained, banks are “threading on the cautious” and waiting for the MFSA licenses to be granted before opening any bank accounts. He noted, however, that the future “seems bright” with other private banking initiatives that are currently being reviewed by MFSA for approval, adding that this topic will be a central theme at the next Malta AI & BC Summit, which will be attended by Prime Minister of Malta Joseph Muscat on May 23-24, 2019. Thus, while the blockchain media has made Malta its destination darling, the reality is far more sobering. It’s an island dedicated to playing an active role in shaping regulations around blockchain and cryptocurrency, yes, and shaping them as pro-startup as possible, but it’s not a place where anything goes. At least, not presently where bank accounts are concerned. Do you think Malta will live up to its much-publicized reputation of being a premier industry destination? Let us know in the comments section below. Images courtesy of Shutterstock. Verify and track bitcoin cash transactions on our BCH Block Explorer, the best of its kind anywhere in the world. Also, keep up with your holdings, BCH, and other coins, on our market charts at Satoshi’s Pulse, another original and free service from Bitcoin.com. The post Malta Might Be ‘Blockchain Island’ But Don’t Try Opening a Crypto Bank Account appeared first on Bitcoin News. View the full article

In this edition of The Daily we cover a trading competition and giveaway promoting Binance’s new platform, new mining plans from Bitdeer and the merger of cryptocurrency wallet startup Ethos by the digital assets brokerage Voyager. Also Read: Top Business School in India to Offer Advanced Blockchain Program Binance DEX Trading Competition Popular crypto trading platform Binance has announced that to increase awareness of its upcoming decentralized exchange (DEX) within the community, it will sponsor a simulated trading competition on its DEX testnet. All users who hold at least 1 BNB token in their Binance account will be eligible to participate in this simulated trading competition. Each account is able to register a maximum of 20 addresses and will receive 200 virtual testnet BNB tokens to each address to use as their starting funds before the trading competition begins. It will officially start on March 7 and last until the 21st, with rewards promised to be issued within two weeks after the competition ends. Bitdeer Launches BCH Mining Plan Computing power-sharing platform Bitdeer has announced it is now supporting mining for bitcoin cash (BCH) as well as litecoin (LTC) and ethereum (ETH) in response to client demands, giving its users a variety of options to utilize their rented hashing power. The company explained that it added support for these cryptocurrencies as they have remained relatively stable among the leading coins, showing their popularity with the crypto community. The platform claims to have secured partnerships with some of the largest mining pools in the world including BTC.com, Ant Pool, Dpool, and Viabtc. Users of Bitdeer can choose to be connected to one of the supported pools while switching between different duration plans (short, mid, and long-term), miner hardware models, and coins (BTC, BCH, LTC, and ETH). Voyager Merges Ethos Digital assets brokerage Voyager has revealed it will be merging with Ethos, a cryptocurrency universal wallet and service provider. The wallet software will be integrated into Voyager’s retail and institutional businesses, allowing its customers to self-custody their crypto assets with a brokerage solution for efficient trading. Shingo Lavine, founder and current CEO of Ethos, will be joining Voyager as chief blockchain officer and will also maintain a seat on Voyager’s board of directors. The deal will reportedly cost the brokerage 7 million of its common shares, worth about US$4 million. The company started trading its shares on the Toronto Ventures Exchange through a reverse takeover earlier this year. What do you think about today’s news tidbits? Share your thoughts in the comments section below. Images courtesy of Shutterstock. Verify and track bitcoin cash transactions on our BCH Block Explorer, the best of its kind anywhere in the world. Also, keep up with your holdings, BCH and other coins, on our market charts at Satoshi’s Pulse, another original and free service from Bitcoin.com. The post In the Daily: Binance Trading Competition, Bitdeer BCH Mining Plan, Voyager Merges Ethos appeared first on Bitcoin News. View the full article

While there’s been a lot of news of cryptocurrency debit cards closing shop over the last two years, a company called Payglobal offers cryptocurrency to fiat transfers onto a user’s existing bank card. The U.K. based e-wallet service licensed by the Financial Conduct Authority (FCA) aims to provide a variety of end-to-end solutions for people who want to get paid using alternative payments and cryptocurrencies. Also read: Crypto Exchange Circle Partners With Financial Surveillance Provider Nice Actimize Crypto to Fiat Transfers for Existing Bank Cards There’s a new service available throughout the European Union, Australia, Singapore, Mexico and Nigeria that allows users to transfer cryptocurrency to fiat and load their existing bank cards. Payglobal, headquartered in the U.K., allows registered customers to receive funds through bank transfer, debit card, alternative payments and digital currencies bitcoin core (BTC) and ethereum (ETH). Giora Tal, Payglobal’s CEO, told news.Bitcoin.com that other cryptocurrencies will be added in the future and the company will also be expanding to other countries. The firm believes that individuals will appreciate a turnkey e-wallet solution that supports conversions from cryptocurrency to fiat money and transferred onto existing bank cards. Speaking with our newsdesk, Tal explained that the company simplifies payments by eliminating friction and allowing “customers to get paid in innovative ways.” “Converting cryptocurrency to fiat money and sending it to your existing bank card through our regulated e-wallet platform provides customers with a quick and easy way to access their funds worldwide,” Tal detailed. “The way we can transfer money from person to person, or company to a person is constantly evolving and we are delighted to be the pioneers paving these new payment channels.” Freelancers, the Gig Economy and Remittances Users have to register on the Payglobal.me website and a Know Your Customer (KYC) verification process is required. Payglobal users must submit valid government-issued identification, proof of address, and a verified mobile phone number. After the approval is finished, users simply select the fiat they wish to withdraw and they pay a cryptocurrency invoice. Once the transaction is complete, the available fiat balance will be displayed on the account dashboard and from there the customer can select the amount of funds they wish to send to their Visa bank card. Payglobal’s transfer service has a minimum of €5 and a maximum of €1,000 ($1,137). The Payglobal e-wallet is not available for U.S. residents and a few other countries. While there are a number of crypto-fueled debit cards offered in the European region, Payglobal believes it is adding convenience by allowing people to load their existing bank cards. Tal told news.Bitcoin.com that the startup’s “state-of-the-art technology offers new payment solutions yet to be seen in the market.” In addition to cryptocurrency solutions, Tal explained that the company has an array of tools for freelancers, the gig economy, fintech startups, blockchain developers, and family-to-family remittances. What do you think about Payglobal’s crypto to fiat service? Let us know what you think about this subject in the comments section below. Disclaimer: This article is for informational purposes only. Bitcoin.com does not endorse this service. Readers should do their own due diligence before taking any actions related to the mentioned companies or any of its affiliates or services. Bitcoin.com and the author are not 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. Image credits: Shutterstock, Visa, Payglobal, and Pixabay. Need to calculate your bitcoin holdings? Check our tools section. The post Payglobal Provides Cryptocurrency to Fiat Transfers With Existing Bank Cards appeared first on Bitcoin News. View the full article

Multi-signature, or multisig, is a wallet configuration that requires at least two keys to authorize a transaction. Commonly used by cryptocurrency exchanges to ensure funds can’t be moved by a rogue employee, multisig also has applications for end-users. If you’re seeking to enhance the security of your noncustodial bitcoin wallet, multi-signature might be the answer. Also read: Everything You Should Know About Bitcoin Address Formats The Quest for the Perfect Custody Solution There’s no such thing as the perfect bitcoin wallet. Hardware wallets can be opened under duress. Paper wallets can perish. Mobile wallets can get lost. And then there’s custodial wallets, which are never more than an exchange hack or exit scam away from being drained. But there’s one solution that combines some of the best elements of custodial and noncustodial wallets. A multisig wallet requires at least two key signatures to authorize a transaction. This means you will have to trust another party. Unlike storing funds on an exchange, however, you get to choose the identity of that third party, and even if that keyholder should betray you, they will unable to unilaterally access your funds. P2SH is the address standard commonly used for BTC multi-signature wallets. Numerous wallet providers support this standard, several of whom provide detailed information on how to use their software to set up a multisig wallet. Before you get started, you’ll want to consider how many keys you wish to authorize. The are numerous permutations available, ranging from 1-of-2, in which either party can sign transactions, to the more common 2-of-3, which is popular with escrow-based services such as Localbitcoins, and 3-of-5, which is commonly used by exchanges to secure their hot and cold wallets. Electrum The most popular desktop bitcoin wallet, Electrum is a feature-rich and trusted open source wallet that’s been around for years. It supports integration of hardware wallets such as Ledger and Trezor, and Electrum provides a clear tutorial on how to create a 2-of-2 multisig wallet. The Electron Cash wallet developed by Jonald Fyookball is a fork of Electrum which also offers 2-of-2 multisig options for bitcoin cash users. Armory Armory is an open source BTC wallet for advanced users that supports up to 7-of-7 multi-signatures. It’s ideal for setting up a multisig wallet where funds are likely to be placed in cold storage for a long time, and access will be infrequent. Armory is available as a desktop build only. Casa For users who like the idea of multisig, but aren’t confident with the technical or trust elements that the setup demands, there is another option: outsource the task altogether. Casa offers Keymaster, a multisig service that entrusts one of the keys to Casa themselves. Their “Sovereignty-as-a-Service” offering comes with a price – the 2-of-3 multisig starts at $300 per year, rising to $1,800 a year for 3-of-5. For individuals and entities holding large amounts of cryptocurrency, however, the added peace of mind that this provides may be worth the price. Casa There are numerous other wallet providers that support multisig for BTC, BCH, and other leading cryptocurrencies. Do your research, determine your desired M-of-N signatures and then choose your fellow keyholders wisely. What are your thoughts on multisig – have you tried using it to secure your coins? Let us know in the comments section below. Image credits: Shutterstock, Casa, and Electrum. Disclaimer: Bitcoin.com does not endorse nor support these products/services. Readers should do their own due diligence before taking any actions related to the mentioned companies or any of their affiliates or services. Bitcoin.com is not 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. The post How to Use Multisig to Keep Your Coins Ultra-Safe appeared first on Bitcoin News. View the full article

The popular website Chess.com used to accept bitcoin, but like many other well-known merchants it dropped the BTC payment option. Now after some discussion with an avid Bitcoin Cash (BCH) proponent, the website is accepting BCH for payments for its diamond, platinum and gold memberships. Also Read: Report: Business Owner’s Seething Critique of the Lightning Network Goes Viral Chess.com Adds Bitcoin Payments for Premium Memberships After a BCH Supporter Convinces the CEO This week BCH supporters were pleased to hear that one of the moderators of the Reddit forum r/btc (Beijing Bitcoins) had convinced the owner of Chess.com to accept bitcoin cash for subscriptions. Chess is an extremely popular game worldwide and the Chess.com URL attracts millions of visitors on a monthly basis. According to Alexa rating statistics, Chess.com has a global rank of 577 at the time of writing and there are over 1 million chess games played every day. Not only does the website allow people to play chess together online but it also has a forum, news articles, strategies, videos, and other chess-related resources. The owner of the website is a believer in cryptocurrencies and at one time the business used to accept bitcoin for membership payments. However, much like many other firms that dropped BTC over the last two years, Chess.com disabled the option. Thanks to a BCH supporter Chess.com is now accepting cryptocurrencies again. After a bit of convincing, Chess.com’s owner has now decided to accept bitcoin cash (BCH) and BTC using Bitpay, the moderator of r/btc announced. BCH supporters were thrilled to hear that a popular website like Chess.com was willing to add crypto payments once again. After the post was published to Reddit, the next day Erik Allebest, the CEO of Chess.com, noticed about 100 emails in his inbox. It seems his company has to submit KYC verification in order to accept Chess.com membership payments. Nevertheless, Allebest created the payment links and he hopes to have things up and running by next week. “I’m very sorry that so many of you tried to pay and support us and could not and I will update you when we get it resolved,” Allebest explained. Chess.com has pro leagues, tournaments, a forum, news articles, strategies, videos, and other chess-related resources Spreading Real Use Cases and Merchant Acceptance Because of the positive news from Chess.com, following the announcement a few BCH supporters said they planned to attempt to get companies like Steam onboard with crypto again. During the last two years, a slew of well-known companies like Dell, Steam, and Expedia have all stopped accepting BTC for payments. Last August, Chainalysis reported that BTC merchant use dropped by 85 percent. A recent analysis published by Longhash.com on Feb. 25 also noted that BTC is processing fewer payments per month than it was in 2016. Chess.com started accepting bitcoin more than four years ago for premium memberships and Allebest is known for operating the website in a forward-thinking fashion. Allebest explained on Feb. 28 that the company had originally disabled bitcoin payments because Coinbase deprecated payment links and “volumes had shrunken a lot after the BTC value correction.” The BCH community is attempting to rekindle the fire for crypto merchant adoption that cryptocurrencies once had and wholeheartedly believe real use cases and merchant acceptance are some of the best ways to spread mass adoption. What do you think about Chess.com accepting bitcoin cash for payments? Let us know what you think about this subject in the comments section below. Image credits: Shutterstock, Pixabay, Twitter, and Chess.com. Express yourself freely at Bitcoin.com’s user forums. We don’t censor on political grounds. Check forum.Bitcoin.com The post Bitcoin Cash Supporter Convinces Chess.com to Accept BCH for Memberships appeared first on Bitcoin News. View the full article

Ernst & Young, the court-appointed monitor in the Quadrigacx saga, released a report on March 1 which shows that cold wallets known to have been used by the Canadian exchange have been without funds since April 2018. The latest twist adds some clarity to a mystery that has held Quadrigacx customers spellbound, hoodwinked into believing Gerald Cotten had supposedly died with the keys to their $190 million fortune. Also read: America’s Signature Bank to Offer Services to Bermuda Crypto Companies 6 Empty Cold Wallets Identified Accountants Ernst & Young identified six cold storage addresses used by Quadrigacx to store cryptocurrency in the past, the Toronto Star reported on March. 2. Five of those wallets have been empty since April 2018. The report detailed how a sixth wallet “appears to have been used to receive bitcoin from another cryptocurrency exchange account and subsequently transfer bitcoin to the Quadriga hot wallet” on Dec. 3. The only other transaction, as disclosed last month, was when $371,000 worth of BTC was accidentally moved to a cold wallet – the sixth wallet – controlled by CEO Cotten, thought to have died in India in December. According to a blockchain-based review of transactions of the six wallets from April 2014 to April 2018, aggregate BTC monthly balances in the identified cold wallets ranged from zero to a peak of 2,776 BTC, the article said. On average, aggregate month end balance amounted to about 124 BTC over the four-year period. Quadrigacx also appears to have moved some bitcoin to rival crypto exchanges. The report read: The monitor has made inquiries of the applicants as to the reason for the lack of cryptocurrency reserves in the identified bitcoin cold wallets since April 2018. To date, the applicants have been unable to identify a reason why Quadriga may have stopped using the identified bitcoin cold wallets for deposits in April 2018, however, the monitor and management will continue to review the Quadriga database to obtain further information. The Mystery Continues The Quadrigacx saga has left more than 115,000 customers in the cold, unsure whether they will ever recover their combined $190 million in cryptocurrency, until now believed to have been buried together with Cotten. The company has been under court-approved creditor protection since Feb. 5, with Ernst & Young acting as monitor under the process. Quadriga, run as a one-man operation by Gerald Cotten, using his laptop, officially ceased operations at the end of January. His widow Jennifer Robertson described Cotten’s normal procedures for transactions as moving “the majority of the coins to cold storage as a way to protect the coins from hacking or virtual theft,” as per the March. 1 report. The Toronto Star reported that Ernst & Young has also identified another three cold wallet addresses that may have been used by Quadrigacx. Even though the said wallets do not contain any funds, the monitor is analyzing the history of their transactions. Another 14 user accounts created outside the normal process were also identified, with deposits created and used for trading, stated the article. Ernst & Young has contacted the 14 exchanges involved with the accounts and received responses so far from four. What do you think about the twists and turns at Quadrigacx? Let us know in the comments section below. Images courtesy of Shutterstock. Express yourself freely at Bitcoin.com’s user forums. We don’t censor on political grounds. Check forum.Bitcoin.com The post Report: Quadriga’s 6 Cold Wallets Have Been Without Funds Since April 2018 appeared first on Bitcoin News. View the full article

A 19-year-old information engineering student in Buenos Aires, Argentina, has started a grassroots campaign to educate local businesses about accepting bitcoin as a payment method. First introduced to the cryptocurrency when he was 13, Leo is intent on seeing the vision of bitcoin becoming a mainstream transactional currency realized, and believes that homegrown actions as simple as distributing informational flyers is key to the eventual widespread integration of bitcoin into everyday business and society. Also read: Public Transport Across Argentina Can Now be Paid With BTC Inspired by Bitcoin’s Vision and Business Ignorance Leo Beltran, an information engineering student, armed with a printer load of flyers detailing the benefits of offering bitcoin payments, is intent on making Buenos Aires a bitcoin-friendly city. Leo Beltran got into bitcoin aged 13. Now 19, he’s on a mission to bitcoinify Buenos Aires. Beltran got the inspiration when, at an event, he asked a vendor why bitcoin was not on the list of payment methods they offered for their product. She laughed and dismissed the question, and he realized that most businesses either don’t know what bitcoin is or how it works, or they believe that it’s not “real” money or usable in a way that is relevant to their business. He’d always been interested in technology, both in how fast it evolves and the speed at which it’s changing our lives. After discovering bitcoin at the age of 13, Leo kept learning about it, hoping that it would reach a point where it would become widely accepted as a currency. Once he turned 18 in 2018, he finally bought bitcoin and started trading it, but the dream of what bitcoin could be hadn’t left him. He explains: The thing that made me fall in love with cryptocurrencies in general, and bitcoin in particular, was that it could financially connect people on the internet the same way it connects them in the real world. A Bitcoin Paper Magician After his encounter with the vendor who dismissed cryptocurrencies, Leo told himself that if businesses need to be educated on how to integrate bitcoin into their offerings, he might as well help make it happen. And so, his flyer movement was born. Creating flyers was something simple and not marvelous or heroic in any way, but it’s a useful tool to start a conversation with business owners, so that’s what I did. Leo took to the streets and started distributing home-printed flyers. To his surprise, the response was predominantly positive. In fact, he says it was “wonderful.” As he’d anticipated, most owners had no clue what bitcoin or cryptocurrencies were, but their responses were friendly and open-minded. Some, he relates, have shown genuine interest in adopting the cryptocurrency for their business. Beltran has been distributing flyers educating local businesses on accepting bitcoin as payment Leo tells news.Bitcoin.com that many of the owners he has spoken to make the connection with traditional fintech apps, understanding that accepting bitcoin as payment is quite similar to downloading an app and letting a customer scan your QR code to make a payment. In those cases, he points out that bitcoin is indeed largely as simple as that, with the difference being that it’s safer because bitcoins are always sovereign-owned. Taking Buenos Aires From Bitcoin-Bewildered to Bitcoin-Booming Buenos Aires, the most-visited city in South America, is considered one of the most diverse cities on the continent, and known as “the Paris of South America.” While the city is famous for tango and parrillas, Beltran has another speciality in mind, saying that it’s one of the cities with the most opportunities on the continent for bitcoin right now. The data appears to agree. Back in 2017, venture capitalist Tim Draper advised Argentinian president Mauricio Macri to invest in bitcoin. Bitcoin acceptance is a growing trend with Buenos Aires’ business industry. This move is not without its challenges, however. Beltran stresses that in Argentina, bitcoin and other cryptocurrencies are not easy to obtain unless you’re “at least a little informed,” adding that misconceptions and biases about crypto in general – specifically regarding their alleged difficulty to use – acts as a major deterrent. He explains that exchanging crypto for fiat is not an easy process, and since the country is in the middle of an economic downturn, most people aren’t willing to risk their money for an unsure investment. He is insistent that his passion for the adoption of cryptocurrency will not die an early death because people don’t have the time or resources to understand it. Thus, since things are already much easier than they were five years ago when he first learned about bitcoin, and because there’s a committed global community working to mitigate challenges, Leo believes this is the right time to begin his awareness and adoption initiative. Future Adoption Starts Today Although Beltran acquired bitcoins as an investment, he is passionate about extending the currency beyond a store of value and believes that bitcoin can only really be considered successful once it starts trickling down into everyday transactions in everyday life. Bitcoin was introduced as a way of payment, but if there is no place where I can spend it, how is it worth something? Leo acknowledges that as a store of value, bitcoin is still very volatile, adding that he hodls because he believes that in the long term, it’ll become a stable currency backed by solid technology. He realizes that as a currency for everyday use, it will take time to improve, as the technology adapts, to the point where fees and ease-of-use become sufficiently convenient to make it user-friendly for newbies and veterans alike. However, bitcoin has to start somewhere, and he’s not content to stand idly by waiting for the day it’s a mainstay at checkout counters. One Business at a Time Asked what his overall goal is with this endeavor, Leo enthusiastically declares: If even a single business contacts me saying that they want to try the technology in their operations, that will already be a big success. He deliberately targets small- and medium-sized business owners, not only because they are the most likely to start accepting bitcoin (“there are clear benefits to the big companies for using fiat currencies,” he reminds), but also because they are the ones that will benefit the most from the technology. In an ideal world that’s perhaps still a long way off, he hopes that everyone will use crypto to buy and sell stuff without a need to exchange it for fiat. For the moment, however, he feels that one of cryptocurrency’s wonders is that day-to-day transactions can be as easy as large transactions since there are already tons of tools and apps to store and use bitcoin securely and effectively. In short, it’s come a long way since he first learned about it in 2013. Everyone Doing Their Bit Is What Will Get Us There Beltran is not naive about the difficulties ahead for mainstream adoption, but he believes that action, not talking, is what will get us there. He likes introducing family or friends to cryptocurrencies, not by explaining it to them, but through gifting them a small amount, even if it’s only a few dollars. That way, they have an incentive to learn more, and this has led to friends who had previously been unaware of bitcoin’s existence buying more for themselves. He knows that most bitcoin aficionados likely won’t march across the business district knocking down doors and handing out flyers like a door-to-door salesman, but he’s adamant that we all have our part to play, however small it may be. Accepting cryptocurrencies as a means of payment is probably one of the best actions you can do to help. However, other things like getting informed, learning, participating in forum discussions, and telling your friends or family about it, so they are aware of bitcoin can be just as helpful as any other action. And that’s probably the way bitcoin was meant to be discovered. Bitcoin Is About Far More Than Just Price Asked why now, in a market that seems to have been beaten down and trodden on, Beltran is full of faith. He reiterates that he is a firm believer in Bitcoin’s philosophy and technology, and says anyone who believes in these two components can withstand anything from price drops to society’s indifference to cryptocurrencies. For me, bitcoin has always been much more than its price. He adds that once you understand that the underlying technology is inherently more valuable and potentially useful than the price the market dictates right now, you’re able to think of bitcoin as a currency and not merely an asset for financial speculation. It’s a pity that the mainstream media still only talks about bitcoin when it’s on the rise or when it’s linked to terrorism or criminal activity, he laments. He adds that the Bitcoin community is an excellent one that appreciates Bitcoin’s deeper significance, and says that alongside the continued development we’ll see in future, he hopes that his own modest efforts will contribute to mainstream adoption. Do you think initiatives such as these to foster bitcoin adoption at business level will make a difference? Let us know in the comments below. Images courtesy of Shutterstock, Forbes, and Leo Beltran. Verify and track bitcoin cash transactions on our BCH Block Explorer, the best of its kind anywhere in the world. Also, keep up with your holdings, BCH, and other coins, on our market charts at Satoshi’s Pulse, another original and free service from Bitcoin.com. The post One Man’s Quest to Make Buenos Aires a Bitcoin City appeared first on Bitcoin News. View the full article

“The future of cryptocurrencies depends on practical applications for real people,” states Roger Ver as he joins the meteoric Australian start-up, Liven. Blockchain superstar and Bitcoin.com CEO Roger Ver aka ‘Bitcoin Jesus’ is now an advisor to Liven, the Australian startup with ambitions to bring crypto to the real world starting with being the international currency of cuisine. With Liven’s user-friendly app, diners can register, find local eats and settle the bill as easily as booking an Uber, earning cryptocurrency rewards at more than 1,000 currently participating eateries and counting. LivenPay is an existing mobile payment and loyalty platform starting with the food and beverage industry that offers a universal network rewards currency, LivenCoin (LVN), to users who transact in-app to be used within Liven’s network of merchants. Users have the option of saving their earnings in their Liven wallet to use on their next transaction, sending peer to peer in real time to their friends or donating to a nominated non-profit or community organisation. LVN is a business backed blockchain token governed by a decentralised reward protocol, launching on an existing network of more than 1,000 brick-and-mortar merchants, a technical reach of over 20,000 venues via point of sale integration and over 400,000 users. LivenPay won the 2019 Sir Richard Branson’s Extreme Tech Challenge for both the Blockchain & Digital Payments categories for building a seamless on and off ramp to the cryptocurrency and blockchain ecosystem with social impact built into its model. Ver, who was born and raised in Silicon Valley but now operates from Tokyo, is the world’s first investor in Bitcoin startups which have included bitcoin.com, blockchain.com, z.cash Ripple, Bitpay, Kraken, and Binance amongst others. As a leading figure in the Bitcoin community and one of the earliest adopters of the cryptocurrency he was also a major contributor to the establishment of the Bitcoin Foundation and has continued to support the efforts of the foundation through numerous donations. He joins Liven’s advisory board with immediate effect. “The future of cryptocurrencies depends on practical applications for real people and Liven is a prime example of this,” enthused Ver. “I am excited at this opportunity to grow with them and demonstrate the power of cryptocurrencies to the wider world.” Liven was founded by university friends Grace Wong, William Wong and David Ballerini in 2014, receiving $10 million of VC funding in 2017. They observed that although loyalty schemes were ubiquitous in the retail and hospitality industries, rewards points were held centrally in silos, were non-transferable and had a limited shelf-life. “We are simply ecstatic that a genuine global star such as Roger Ver has joined our advisory board,” said a delighted Grace Wong, Co-founder & Chief Evangelist of Liven. “Roger’s belief in us demonstrates further proof that what we are setting out to do with Liven will truly change the way the world engages in its favourite pastimes, starting with dining out and that’s just the beginning. By making it not only more exciting, but also more frequent for our users by rewarding them with a cryptocurrency that can appreciate in value as the ecosystem grows.” The LivenPay Public Token sale will open on the 28 February 2019. Ends Media Enquiries: Shahrooz Chowdhury, press@livenpay.io Token Sale: https://Livenpay.io Whitepaper: https://s3-ap-southeast-2.amazonaws.com/livenpay.io/LIVEN-WhitePaper(EN).pdf The post PR: Roger Ver Joins Livenpay Advisory Board appeared first on Bitcoin News. View the full article

The Supreme Court of India has reportedly given the Indian government four weeks to come up with cryptocurrency regulations before making its ruling on pending crypto cases. The court was set to hear the petitions against the crypto banking ban by the central bank this week. Also read: SEC Chair Explains Key Upgrades Needed for Bitcoin ETF Approval Government Given a Deadline The Indian supreme court reportedly addressed the matter regarding cryptocurrency today, Feb. 25. According to Twitter account Crypto Kanoon, a platform for blockchain regulatory news and analysis, the court gave the government four weeks to come up with a clear regulatory framework for cryptocurrencies. After that time, the court will make a decision on the crypto banking ban by the country’s central bank, the Reserve Bank of India (RBI). Crypto Kanoon tweeted: Supreme Court has granted 4 weeks to Indian government as the final opportunity to bring about a policy (rules and regulations) on cryptocurrencies. The last time the supreme court addressed the crypto case was on Jan. 17 when it decided to hear the petitions against the RBI ban in the last week of this month. In its circular dated April 6 last year, the central bank banned financial institutions under its control from providing services to crypto businesses. One of the petitioners, the Internet and Mobile Association of India (IAMAI), requested for the RBI ban to be lifted. The IAMAI is an industry body whose members include a number of local crypto exchanges. The association argued that the ban is unconstitutional. It also pointed out to the court that some crypto businesses have suffered because of this banking restriction. Zebpay, for example, shut down its Indian crypto exchange operations due to the banking problem. Crypto Regulation in India The government of India has been working on the regulatory framework for cryptocurrencies. The finance ministry set up a panel, headed by Subhash Chandra Garg, Secretary of Economic Affairs, to draft the regulation. The recommendations by this panel are reportedly being finalized. However, there have been conflicting reports about what they entail. In January, the Ministry of Finance invited reputed law firm Nishith Desai Associates to present its proposals for the country’s crypto regulation. Furthermore, the ministry told Lok Sabha, India’s lower house of parliament, at the end of last year that “It is difficult to state a specific timeline to come up with clear recommendations” as it “is pursuing the matter with due caution.” What do you think of the Indian supreme court giving the government four weeks to come up with crypto regulation? Let us know in the comments section below. Images courtesy of Shutterstock. Need to calculate your bitcoin holdings? Check our tools section. The post Indian Supreme Court Gives Government 4 Weeks to Produce Crypto Regulation appeared first on Bitcoin News. View the full article

In The Daily this Monday, we feature several developments cryptocurrency traders may want to know more about. The Korean subsidiary of global digital asset exchange Huobi is enhancing its anti-money laundering measures and a new over-the-counter trading desk will offer services to crypto investors. Also, Liquid and Simplex are now working together to provide customers with the option to buy cryptocurrencies using bank cards. Also read: BCH on C2C Market, Binance in Indonesia, 400,000 Planned Mining Rigs Huobi Korea Enhances AML Procedures The South Korean subsidiary of Singapore-based crypto exchange Huobi announced it’s in the process of enhancing its anti-money laundering (AML) procedures. The platform detailed in a press release that it will also strengthen its protections against identity theft, voice phishing and other forms of abuse. David Oh, Huobi Korea’s chief communications officer commented: Though we’re relatively new in the Korean market, safety, security, and compliance have long been major priorities for Huobi as a whole. For that reason, this is a natural move for us and is an integral part of our plans for growth in the Korean market. The Korean branch of the fifth largest digital asset trading platform by daily volume revealed other recently implemented security measures. The exchange has strengthened deposit and withdrawal processes via improved monitoring of “abnormal transactions,” introduced more transparency for Huobi Korea’s won-based fiat-to-crypto services, and taken other steps to comply with the regulations and guidelines issued by the Korean Financial Services Commission. Huobi Korea also said it intends to continuously update its fraud detection system algorithms that monitor transactions. The subsidiary will also establish a hotline with other cryptocurrency trading platforms in order to improve the prevention of criminal activities. New OTC Trading Desk Launched Spot trading crypto exchange Coinall has launched an over-the-counter (OTC) trading desk for digital assets. The platform starts operations with support for crypto trades with the Vietnamese dong (VND) but it plans to soon introduce other fiat currencies such as the British pound (GBP), the Thai baht (THB) and the Russian ruble (RUB). According to Katherine Deng, general manager of Coinall, safety and speed will be the highlights of the new trading desk. “Coinall will verify merchants and secure your trades with 24 hours round the clock customer service, leaving no effort to guarantee the trading safety,” she promised. Fast trades will be facilitated by an AI technology based matching system that will instantly complete orders. Coinall’s announcement comes after several large crypto exchanges launched OTC desks in recent months. The over-the-counter trading services allow investors to purchase cryptocurrencies more easily and take advantage of higher quality services. Liquid Partners With Simplex for Bank Card Deposits Liquid, a digital asset platform operating on the global market, announced a partnership with Simplex, a crypto company specializing in online payment processing solutions. The deal aims to provide Liquid’s customers with deposit services in fiat currency using credit and debit cards. The service will allow them to make deposits in euro (EUR) with Visa or Mastercard bank cards. Clients will be able to spend the funds to purchase major cryptocurrencies such as bitcoin core (BTC) and ethereum (ETH) or use the fiat money as a funding currency for margin trading on the platform. Liquid said it plans to add support for funding with U.S. dollars (USD) and other major currencies in the future. “By offering secure credit and debit card processing for crypto purchases, adoption will continue to rise, expanding the cryptocurrency space as we know it,” commented Simplex CEO Nimrod Lehavi. The executive added that the partnership with Liquid will enable thousands of users around the world to buy digital coins through the Liquid platform in a simple, fast and secure manner. What are your thoughts on today’s news tidbits? Tell us in the comments section. Images courtesy of Shutterstock. Make sure you do not miss any important Bitcoin-related news! Follow our news feed any which way you prefer; via Twitter, Facebook, Telegram, RSS or email (scroll down to the bottom of this page to subscribe). We’ve got daily, weekly and quarterly summaries in newsletter form. Bitcoin never sleeps. Neither do we. The post In the Daily: Huobi AML Measures, New OTC Desk, Bank Card Deposits appeared first on Bitcoin News. View the full article

As the situation in Venezuela intensifies, a local bitcoin user details how he and his family use the cryptocurrency to survive the country’s ongoing crisis. Keeping all of his money in bitcoin, he only exchanges small amounts into the hyperinflating bolivar when necessary. Also read: SEC Chair Explains Key Upgrades Needed for Bitcoin ETF Approval Bitcoin Not Bolivar Carlos Hernández, a Venezuelan living in Ciudad Guayana, told his story in The New York Times on Saturday about how bitcoin is saving his family throughout the ongoing crisis in Venezuela. Citing the bolivar’s daily inflation rate of around 3.5 percent, he wrote: I don’t own bolívars, Venezuela’s official currency. I keep all of my money in bitcoin. Keeping it in bolívars would be financial suicide. He explained that he does not have a bank account abroad and “With Venezuela’s currency controls, there’s no easy way for me to use a conventional foreign currency like American dollars.” Hernández revealed that cryptocurrency has enabled him to cover his household expenses on his own, noting that his father, a government employee, earns $6 a month and his stay-at-home mom has no income. His brother also relies on cryptocurrency. Juan, a 28-year-old lawyer, became a freelancer because “in times of hyperinflation, everyone is constantly getting poorer, including a lawyer’s clients,” Hernández detailed. He added that his brother “had to turn to cryptocurrencies to get paid” because he could not use Paypal, a common way for websites to pay freelancers, due to “exchange controls here allow[ing] Venezuelan banks to use only local currency.” Moreover, cryptocurrency helped Juan avoid his money being seized at the borders when he tried to move to Colombia. “Venezuelan military personnel at the borders have a reputation for seizing the money of people who want to leave,” Hernández exclaimed. Overall, he concluded: You could say that cryptocurrencies have saved our family. Converting Crypto Into Bolivars In order to buy everyday necessities such as milk, Hernández explained that cryptocurrencies must be converted into bolivars. He uses Localbitcoins to find buyers who use the same bank he does so “the wire transfer can go through immediately,” he said, elaborating: I can’t change too many bitcoins at once, though. The government doesn’t monitor cryptocurrency transactions (yet), but it does monitor transactions in bolívars — and any worth about $50 or more will automatically freeze your account until you can explain to your bank where the funds come from. Localbitcoins has been a popular platform for Venezuelans. The trading volume on the exchange has been steadily rising, hitting a record high of 2,487 BTC for the week ending Feb. 9 before settling at 1,939 BTC last week. Another international exchange platform, Paxful, told news.Bitcoin.com last week that it also saw record volume in Venezuela, which increased 74.66 percent compared to last year. In addition, the number of trades on the platform increased by 118 percent to an average of 61,534 transactions monthly. Recently the government of Nicolas Maduro published decrees to regulate crypto activities in Venezuela, including taxing remittances. Charities Using Bitcoin Like Hernández, charities in Venezuela have also been able to benefit from bitcoin’s borderless nature. One such charity is Bitcoin Venezuela, a nonprofit organization that uses bitcoin to raise funds to aid Venezuelans while offering education in basic economics. For Venezuela’s International Children’s Day last year, the nonprofit’s humanitarian aid project collected bitcoin donations from Paxful and others. It then gave food to a soup kitchen that feeds 1,500 people daily, two orphanages, and distributed hundreds of meals to people on the street. On Feb. 10, Eatbch, a Venezuelan nonprofit food drive powered by bitcoin cash, celebrated its one-year anniversary. Within a few months of launch, the charity was “giving thousands of meals each week in 23 locations in 6 states of the country,” its co-founder described. What do you think of how bitcoin helps Venezuelans? Let us know in the comments section below. Images courtesy of Shutterstock and Coin.dance. Need to calculate your bitcoin holdings? Check our tools section. The post Venezuelan Explains How Bitcoin Saves His Family appeared first on Bitcoin News. View the full article

Darknet marketplaces (DNMs) are a repository for the weird and the wonderful. Whatever your vice, your potion, or your whimsy, odds are there’s a darknet vendor who’s selling it in exchange for cryptocurrency. Unlike the closely regulated clearnet, the darknet remains a largely lawless frontier, where everything has its price and anything can be acquired with few questions asked. Also read: Mt. Gox CEO Claims the Coinlab and Brock Pierce Deals Never Materialized Eclectic Wares for Purveyors of the Esoteric Dream is the largest and longest running of the DNMs. Like its peers, it mostly sells drugs, but there are also other wares to be had including a plethora of digital and physical goods. For $7.28, or its bitcoin equivalent, one Dream vendor will supply you with a PDF version of “22 Ways To Kill a Man With Your Bare Hands.” For those with a little more crypto to burn, $150 of BTC or BCH will furnish you with an extreme power laser pointer. The 20,000 MW device comes with a warning that it can burn targets, so wield it with care. Wallstreet Market is another DNM where pharmaceuticals of all kinds are the primary stock in trade. There are plenty of other goods to be had over and above these victuals however. The anonymity starter pack, for instance, promises 24 ebooks that cover everything from encryption to privacy. Each book is priced at $1.99 and provides all the resources you need to start your own vendor account on the darknet, should you be so inclined. Over on Berlusconi Market, some of what glitters is gold – or at least so its vendors claim. In addition to gold bars, there are Berlusconi vendors selling powered gold, also known as flour gold, by the gram or the ounce. Payment is accepted in BTC, LTC and XMR. Other wares for sale on Berlusconi include a .edu Gmail address, which can be yours for less than $6. Drugs Still Dominate the Darknet The darknet rose to prominence thanks to drugs marketplaces like Silk Road, and to this day drugs remain the primary trade of the DNMs. While cannabis is now legal in numerous global regions, including several U.S. states, other recreational drugs remain illegal in most countries. As such, customers should be mindful of the laws in their territory and how this might impact their ability to purchase certain wares when browsing the darknet. Over on Cannazon, for example, which stocks cannabis-based wares only, listings include THC-infused gummies, chocolates and other edibles. The marketplace accepts BTC and XMR. While the majority of wares for sale on the darknet are illegal, many DNM advocates believe these marketplaces serve a vital role in facilitating the safe purchase of narcotics from vendors whose reliability and reputation can be assessed. Whatever you’re searching for on the darknet, its various marketplaces can be relied on to deploy no cookies, tracking or other privacy-eroding behaviors. The dark side of the web remains one of the last bastions of anonymity and one of the first use cases for cryptocurrency, and for that alone should be cherished. What are your thoughts on the connection between darknet markets and cryptocurrency? Let us know in the comments section below. Images courtesy of Shutterstock. Disclaimer: Bitcoin.com does not endorse nor support these products/services.Readers should do their own due diligence before taking any actions related to the mentioned companies or any of their affiliates or services. Bitcoin.com is not 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. The post Unusual Goods You Can Purchase on the Darknet With Cryptocurrency appeared first on Bitcoin News. View the full article

Ever since various token implementations were introduced to the Bitcoin Cash (BCH) network, the infrastructure has been significantly developed in order to advance the BCH-fueled token ecosystem. In the last few weeks, projects like Wormhole and the Simple Ledger Protocol (SLP) have seen a significant amount of token creation, alongside a variety of wallet support for the many tokens the community has already created. Also read: Mt. Gox CEO Claims the Coinlab and Brock Pierce Deals Never Materialized VOTE, FLC and KTB Among The New BCH Tokens For a while now BCH programmers have been developing projects that aim to bolster the token ecosystem built on top of the Bitcoin Cash network. Over the last couple of months, individuals and organizations such as the social media application Honest Cash have been creating special tokens for various purposes. For example, a look at the Bitcoin.com Block Explorer shows a ton of people have been creating their own coins. Tokens created so far have names like Vote (VOTE), Useless (USL), Killthebeast (KTB), Falcon (FLC), Official SLP Token (SLP), Berniecoin (BERN), and Dogecash (DOGE). News.Bitcoin.com also recently reported on the latest Badger client release that just added Wormhole and SLP token support. On Feb. 23, the developers behind the light client Electron Cash released SLP version 3.4.5, which adds an optional auto-update notification to the software. Over the last few weeks, a lot of tokens have been created using the Simple Ledger Protocol (SLP). On the r/btc forum, SLP developer James Cramer thanked various Electron Cash team members for the hard worked involved with the latest release and explained to the community how the wallet can create tokens and how they can be sent to Badger. Cramer also hinted that a “new trading website coming that will allow you to automatically trade SLP tokens for BCH” would be launched. The new version of the Electron Cash SLP client can be found at the official site and the implementation is available for Mac OS, Windows, and Linux. The Wormhole block explorer shows block information, transaction and burn data, and the tokens created. Wormhole and the Creation of a BCH-Based Stablecoin Then there’s the Wormhole protocol that’s seen some attention over the last few months as well. So far the Wormhole burn address has seen approximately 2,729 BCH ($358,795) burned since the project started. There’s also the Wormhole explorer which shows data on Wormhole Cash (WHC) transactions, created assets, and burning details. There’s been a bunch of WHC created and a long list of token assets forged as well. Wormhole tokens are also supported by a variety of wallets including the official Wormhole Cash client, Badger, Coco, Ifwallet, Itbitcome, and Pure Wallet. Some Wormhole tokens are also sold on exchanges like the trading platforms Coinex and Exnow. According to Coinex statistics, one WHC is currently trading for $1.09 worth of BCH at the time of writing. Six wallets support Wormhole now and SLP tokens are supported by the light clients Electron Cash and Badger Wallet. On social media and dedicated forums, BCH supporters seem pleased about the token explosion happening on the BCH chain. A few enthusiasts also discussed the idea of creating a BCH-centric stablecoin like the Maker network’s dai token which is based on the Ethereum protocol. On Saturday, cryptocurrency entrepreneur and Bitcoin.com CEO Roger Ver hinted that a stablecoin concept may be forged soon. “Six new tokens were already created today alone,” Ver explained. “If you want to test it out, install Badger wallet and post your SLP address and I will send you some tokens so you can see how easy it is.” What do you think about the Bitcoin Cash token creations? Let us know what you think about this subject in the comments section below. Image credits: Shutterstock, Pixabay, Bitcoin.com, and Wormhole.cash. Verify and track bitcoin cash transactions on our BCH Block Explorer, the best of its kind anywhere in the world. Also, keep up with your holdings, BCH, and other coins, on our market charts at Satoshi’s Pulse, another original and free service from Bitcoin.com. The post Token Development Using the Bitcoin Cash Network Kicks Into High Gear appeared first on Bitcoin News. View the full article

On Feb. 19, the former CEO of Mt. Gox, Mark Karpeles, gave an interview on the Youtube show “What Bitcoin Did”. In episode 76, Karpeles discussed the platform’s insolvency, Coinlab’s monstrous claim for $16 billion, and Brock Pierce’s attempt to revive the defunct exchange. Also read: Mt Gox Restitution Process Frozen Due to One Man’s $16B Claim Karpeles Discusses Two Important Subjects: Coinlab and the Gox Rising Plan Mark Karpeles is well known for his role as the CEO of Mt. Gox before the trading platform was hacked and collapsed into bankruptcy. Over the last few years, Karpeles has been through a lot dealing with the bankruptcy proceedings and his own trial where he’s been accused of embezzlement. However, at the beginning of his latest interview, Karpeles emphasized that he wanted to discuss two very important subjects during the filming. “Considering the situation with the Mt. Gox bankruptcy there are two things I want to make sure are known. One is about Brock Pierce and these claims … or rather what he’s trying to do with Mt. Gox, which I’m not sure of. And the other thing I want people to know about is the Coinlab claim,” Karpeles said during his opening statements. The former CEO of Mt. Gox detailed that the deal between Mt. Gox and Coinlab never came to fruition because Coinlab failed to meet the contract’s requirements. Karpeles says that the deal between Mt. Gox and Sunlot Holdings is also nonbinding because it failed to meet the approval of the Tokyo court in 45 days. Karpeles remarks that the last few years have been “very busy” since the initial bankruptcy started on Feb. 28, 2014. From there he started working with the court trustee, but in 2015 Karpeles detailed that the Japanese police thought Mt. Gox was an “inside job” and they arrested him. The former Mt. Gox CEO also said that U.S. law enforcement has been involved with Mt. Gox case, specifically the Internal Revenue Service (IRS) was “the main entity.” Karpeles says he spent 11 and ½ months in detention and during that time he had no contact with the outside world. He remarked on how he followed some of the news surrounding what was happening with the bankruptcy proceedings from inside jail, but couldn’t do anything until he was released on July 14, 2016. A few weeks later the alleged Btc-e operator Alexander Vinnik was arrested in Greece. At the time Karpeles says he was personally investigating the missing 600,000 Mt. Gox bitcoins. Karpeles believes Vinnik’s arrest is a step in the right direction toward finding them. When the price of Bitcoin skyrocketed in the fall of 2017 there was an issue with the bankruptcy as Mt. Gox had more asset value than liabilities. But by 2018, after the price crashed, “things didn’t look so good” Karpeles noted, but everything was starting to look better when the case entered civil rehabilitation. Karpeles further emphasized that after things were somewhat solved through the transformation of the civil rehabilitation, there was “no surplus” by then. Coinlab’s Compliance Struggle Clearly Violated the US Contract With Mt. Gox Karpeles then discussed how Mt. Gox made the initial deal with Coinlab but explained the agreement required Coinlab to meet the U.S. license requirements. According to Karpeles, the company found out Coinlab couldn’t get compliance to run Mt. Gox operations in the U.S. and the deal faltered. He said Mt. Gox representatives tried to contact Coinlab but the business did not respond to requests about the situation. Karpeles said Mt. Gox then asked Coinlab for a timeline on how they would comply with getting U.S. licensing and a few months later they filed a lawsuit against Mt. Gox. Because Coinlab couldn’t get a license “it was a clear violation of the contract and a huge risk for Mt. Gox,” the former CEO explained. Karpeles further discussed a few of the so-called mining operations Coinlab claimed to operate at the time, and stated: I don’t think Coinlab ever had a running business, ever. Karpeles then detailed how Coinlab filed the firm’s initial bankruptcy claim with the trustee which was subsequently rejected. He also explained in detail on how Coinlab filed the claim again during the civil rehabilitation and this time asked the court’s trustee for a whopping $16 billion. Coinlab has made a claim for $16 billion. Karpeles Insists the Sunlot Deal Is Not Binding in the Eyes of the Courts The interview then moved on to the Brock Pierce-backed Gox Rising plan and Karpeles stated that there was no binding agreement between Pierce and Karpeles over his Mt. Gox shares. Pierce disagrees and gave his opinion on the same Youtube show “What Bitcoin Did” episode 79. Furthermore, the episode before Pierce’s appearance involves a discussion with Kim Nilsson, the author of the report Cracking Mt. Gox. Karpeles described the initial Sunlot deal with Brock Pierce as nothing more than written intentions that fizzled into nothing binding after the idea failed to meet the approval of the Tokyo district court. “We actually don’t have an agreement with Brock,” Karpeles highlighted during the discussion. Brock Pierce believes he owns Karpeles’ portion of Mt Gox and has plans to revive the defunct exchange in order to pay back victims. Karpeles says Pierce [Sunlot Holdings] approached Mt. Gox in late 2013 and talked about expanding the company in China and explained he could make the exchange work over there. When Mt. Gox went into bankruptcy proceedings, Karpeles says Pierce approached the company again and offered to take over the bankruptcy process and give the defunct exchange a “good ending.” The first step was to try to buy all of the Mt. Gox shares, but Karpeles said it also required the approval of the Tokyo district court. According to Karpeles, the deal between Pierce’s company Sunlot and Mt. Gox never really moved past the letter of intent (LOI) stage and ultimately failed to meet the approval of the Tokyo district court. The LOI agreement’s requirements had to be settled within 45 days on condition of approval by the court, but a settled agreement never came to fruition within that time span. Karpeles then responded to the recent statements Pierce had made detailing that he doesn’t want to see any surplus money given to Karpeles from the civil rehabilitation proceeds. He said Pierce was very nice to him at first and wanted to revive Mt. Gox from the ashes and even told Karpeles he could take care of the Coinlab claim. However, a few weeks later Karpeles read an article which described Pierce painting Karpeles as the bad guy. Immediately it became clear to Karpeles that Pierce was making unfactual claims about owning his share of Mt. Gox. He said “he had to respond on Twitter” to tell the public that it was not true and the Sunlot deal between Mt. Gox never moved past the LOI stage. A second letter was sent to Pierce rescinding the first LOI and Karpeles cited that the Tokyo court did not approve the deal. This would make the agreement null and void and completely nonbinding. Karpeles further remarked that he didn’t see how Pierce would make the Gox Rising deal work other than using an initial coin offering (ICO). The second letter that was sent to Pierce rescinding the first LOI agreement. This was signed by Karpeles in March 2014 but Pierce did not sign this letter. Brock Pierce Disagrees With Karpeles’ Analysis Pierce appeared a few days earlier on the Keiser Report on Feb. 16 with host Max Keiser and explained he didn’t like Karpeles. “The only reason Mark Karpeles should care about who owns Mt. Gox is because he cares who potentially is the beneficiary of that potential surplus,” Pierce explained. Pierce believes Karpeles looks to gain $700 million from the bankruptcy and told his Twitter followers that the former Mt. Gox CEO appears “to be the man behind the curtain controlling the bankruptcy process.” “Pretending to be a saint all the while hoping the Tibanne trustee will score you a big payout,” Pierce told Karpeles on social media. What do you think about Mark Karpeles’ statements about Coinlab and Brock Pierce? Let us know what you think about this subject in the comments section below. Image credits: Shutterstock, Scribd, What Bitcoin Did episode 78, Youtube, Goxxdoxx, and Pixabay. Verify and track bitcoin cash transactions on our BCH Block Explorer, the best of its kind anywhere in the world. Also, keep up with your holdings, BCH, and other coins, on our market charts at Satoshi’s Pulse, another original and free service from Bitcoin.com. The post Mt. Gox CEO Claims the Coinlab and Brock Pierce Deals Never Materialized appeared first on Bitcoin News. 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Dan Morehead, the chief executive officer of Pantera Capital, recently discussed the cryptocurrency bear trend on an episode of the Unconfirmed podcast. Morehead argued that the crypto sector has much more robust fundamentals than it did during the previous bear trend, asserting that the industry has developed the infrastructure necessary in order to attract institutional investors. The company has also raised $130 million for a third venture fund. Also Read: Kenyan Crypto Adoption and Trading Grows Despite Warnings from Regulators Pantera CEO Finds Current Bear Market Less Worrisome Than 2014 – 2015 Downtrend With regards to how the current downtrend differs from the previous bear market, Morehead stated: “the underlying fundamentals are much stronger than they were during the 2014-15 winter,” noting that “in the previous [winter] I had more […] worry in the pit of my stomach whether blockchain was really going to work,” in addition to concerns pertaining to potential “regulatory risks.” Morehead also cited impending institutional investment a key defining characteristic of the current bear market, stating that “People have been talking for years about the impending institutional wave of money coming into the markets … I think we now actually have the required conditions for that to happen.” Pantera Anticipates Institutional Investors Will Enter Once Bull Cycle Has Already Kicked Off The Pantera CEO emphasized the importance of robust new custody options for institutions, asserting that “Institutional investors really want to have a custodian that’s well known and regulated, and we haven’t had … the kind of global name that it would take to get institutions in … But now you have firms like [Intercontinental Exchange’s] Bakkt, or Fidelity, or Erisx doing varying institutional grade custody over the next few months.” Despite his confidence in a greater institutional presence in the cryptosphere, Morehead dismissed the suggestion that institutional investment will be the principal catalyst for the next bull season, stating: “Institutions are probably just like the rest of us, they are probably pretty pro-cyclical, and the big wave [of] institutional money will probably not start … until the prices themselves start going up.” Morehead also predicted that 2019 will see venture capital again supersede ICOs as the dominant means of fundraising within the crypto sector. Pantera Raises $130 Million for Crypto Fund Pantera has also announced that it has raised $130 million of its $175 million target for its third cryptocurrency venture fund. Pantera partner Paul Veradittikit stated: “We’re in a bear market and fundraising has slowed for the entire industry, whether you’re an entrepreneur or a fund.” Do you think that institutions will buy low and sell high, or chase the crypto markets as Morehead believes? Share your thoughts in the comments section below! Images courtesy of Shutterstock Want a comprehensive list of the top 500 cryptocurrencies and see their prices and overall market valuation? Check out Satoshi Pulse for all that hot market action! The post Pantera Predicts Institutions to Invest in Crypto After Next Bull Trend is Established appeared first on Bitcoin News. View the full article

The cryptocurrency markets have seen significant volatility over the last 24 hours, with BTC rallying by 7% to test resistance at $4,200, before violently crashing approximately 10% back below $3,800. BCH has posted comparable volatility, currently trading for $135 after rallying above $150 for the first time since Jan. 10 earlier today. Also Read: German Derivatives Exchange Rumored to Be Launching Crypto Futures BTC Fails to Establish Support at $4,000 BTC briefly rallied above $4,000 today after gaining more than 4% in one hour. The rally saw BTC test $4,200 for the first time since Dec. 2018, before crashing 9% in less than 60 minutes as bulls failed to establish support at $4,000. Bitcoin core is currently trading for roughly $3,800. BTC/USD – Bitstamp – 1HR BTC currently has a market cap of $67.32 million and a dominance of 52.1%. BCH Briefly Trades Above $150 BCH produced a more steady rally today, gaining 11% in 12 hours to trade above $150 for the first time in approximately seven weeks. After support failed to hold at $150, BCH shed 15% in less than one hour. Bitcoin cash is currently trading for roughly $130. BCH/USD – Kraken – 1HR When measured against BTC, BCH gained 5% in two hours to establish resistance at 0.0375 BTC, before falling 7% in one hour. BCH is currently trading for approximately 0.0345 BTC. BCH/BTC – Bittrex – 1HR BCH is the sixth largest crypto asset with a market capitalization of $2.34 billion and a dominance of 1.85%. ETH Tests Resistance at 0.04 BTC Ethereum gained 13% across the course of 12 hours today, breaking above the $150 area before posting a local top at $170. The gains were short-lived, with ETH crashing 15% in one hour after support at $165 failed to hold. Ethereum is currently trading for $150. ETH/USD – Bitfinex – 1HR When measured against BTC, ETH gained 6% in 12 hours to post resistance just below 0.04 BTC, before falling 9% in less than three hours. ETH is trading for 0.0363 BTC as of this writing. Ethereum is the second largest cryptocurrency with a capitalization of $14.61 billion and a dominance of 11.52%. ETH/BTC – Bitfinex – 1HR What direction do you expect the crypto markets will trend in during coming days? Share your thoughts in the comments section below! Images courtesy of Shutterstock, Tradingview Disclaimer: Price articles and markets updates are intended for informational purposes only and should not to be considered as trading advice. Neither Bitcoin.com nor the author is responsible for any losses or gains, as the ultimate decision to conduct a trade is made by the reader. Always remember that only those in possession of the private keys are in control of the “money.” The post Markets Update: Leading Cryptocurrencies Briefly Break Local Resistance appeared first on Bitcoin News. View the full article

The global remittance industry is huge. World Bank data shows that over $148 billion was sent abroad from the U.S. alone in 2017. As people leave nations gripped by hyperinflation, or simply move to look for better opportunities abroad, sending cash back home becomes a necessity. As the people in Venezuela are discovering, this can be cheaper, faster and simpler with bitcoin and other cryptocurrencies. Here are four ways to send money abroad using crypto. Also read: Everything You Should Know About Bitcoin Address Formats Crypto Remittance for the Masses Bitcoin and cryptocurrency in general can get money from sender to receiver extremely quickly and at low cost. If you’re new to decentralized peer-to-peer currency, it’s worth familiarizing yourself with how it works. From there, one can choose which cryptocurrency you intend to use as a conduit for the fiat cash. Bitcoin core (BTC) and bitcoin cash (BCH) are popular, though ripple (XRP) and ethereum (ETH) are other options you may wish to consider. After selecting your desired cryptocurrency, the next step is to choose a wallet which can store it. Cryptocurrency wallets are essentially software programs that store your public and private keys and interface with various blockchains, allowing you to monitor your balance, send and receive money, and conduct other operations. There are different wallets to choose from: a desktop wallet, which would be downloaded and installed on your computer; an online wallet which runs from the cloud; or a mobile wallet, by far the most popular option as they can be used anywhere while on the go. Other options include hardware wallets which store a user’s private keys on a device like a USB, and paper wallets, which refer to a physical copy or printout of your public and private keys. Both are easy to use and provide a very high level of security. More information on choosing the best wallet can be found here. Now let’s move on and examine four methods of sending cash abroad using cryptocurrency. Localbitcoins.com By far the simplest method for beginners, buying BTC on Localbitcoins and then using it to send cash abroad is extremely popular in developing nations in particular. You simply need to open an account, search for people selling BTC in your country and go ahead and make a bank transfer to the seller. The platform is very secure and uses an escrow mechanism to hold funds, which means the coins can’t be released until both parties agree. Once the buyer has the BTC they wish to send abroad, they can send it to their contact’s crypto wallet, where they can then sell it, or perform the same process on Localbitcoins.com but in reverse. So, if a person wanting to send money from the U.S. to Venezuela wishes to use this method, they would find a buyer in Venezuela after having bought BTC in the U.S., then sell the BTC and receive fiat cash into a Venezuelan bank account. Look for a good fiat to BTC rate while using this method, as you will find many buyers and sellers on Localbitcoins.com with different rates. Airtm Another increasingly popular platform for sending money abroad using cryptocurrency is Airtm. A digital wallet connected to banks and blockchains, Airtm makes sending money abroad via cryptocurrency very simple. As well as BTC and BCH, the platform supports a number of other currencies including ETH, XRP and monero (XMR). Opening an account is easy and Airtm provides a mid-market cryptocurrency exchange rate. There is a crypto dashboard on the website where you can see your total balance in USD equivalent inclusive of all your cryptocurrency balances. From there, you can buy and sell crypto and send it to other Airtm addresses. Recipients can then convert straight to fiat and withdraw. Bitcoin ATMS Bitcoin ATMs (BATMs) are fast popping up everywhere, with over 4,000 scattered around the globe. They quickly allow users to get their hands on crypto or fiat cash. And as a way for sending money abroad, they are a gem. You need only find a BATM, buy BTC or other crypto, send to the recipient in another country and then the recipient can sell the crypto for cash at a BATM. The recipient doesn’t even need to know about cryptocurrency – they can simply make and send a photo of the QR code and the sender can use this bitcoin address directly, which can then be taken out of a BATM as cash. BATMs tend to charge a higher commission than other services mentioned here, it should be noted, so their convenience comes at a price. Bloom Solutions A newer method of sending cash abroad is via Bloom Solutions. Founded by Luis Buenaventura, Bloom aims to reinvent the remittances industry using BTC. By focusing solely on cryptocurrency as a mechanism for cross-border money transfer, Bloom allows users to sign up, and when your credentials have been approved, a rate for using the service is given. You can then deposit funds into your Bloom account and Bloom takes care of it being sent abroad by sending it to a bank account or cash pick-up point. An email or SMS will confirm the completion of the transaction. Based in the Philippines, the service has been praised for its ability to help the unbanked receive remittances. What do you think about these methods of sending bitcoin abroad? Share your thoughts in the comments section below. Images courtesy of Shutterstock, Airtm and Localbitcoins.com. At Bitcoin.com there’s a bunch of free helpful services. For instance, have you seen our Tools page? You can even lookup the exchange rate for a transaction in the past. Or calculate the value of your current holdings. Or create a paper wallet. And much more. The post How to Use Cryptocurrency to Send Money Abroad appeared first on Bitcoin News. View the full article

In this edition of The Daily we cover a number of cryptocurrency-related business collaborations from around the world. These include Sirin Labs and Simplex, Middle East-focused crypto exchange Cbx, and Heliocor, IPC and ICE Data Services. Additionally covered is an update from the FBI which is conducting an investigation into Bitconnect. Also Read: Coinflex Launches Physically Delivered Cryptocurrency Futures Exchange Sirin Labs Smartphone to Integrate Simplex Sirin Labs, creators of the cryptocurrency-focused Finney smartphone, have announced a partnership with online payment processing solutions provider Simplex. With the integration of Simplex’s escrow service for fiat-to-crypto transactions, the phone’s users will be able to buy crypto with fiat directly through its wallet application. Founded in 2014, Simplex is headquartered in Israel, with subsidiaries in the U.K., U.S., and Lithuania. The service processes credit card payments for some of the largest crypto exchanges, wallets, and platforms around the world. “The growing portfolio of our partners and integrations is aimed to assure our community that their crypto experience through FINNEY is constantly evolving,” said Sirin Labs CEO Zvika Landau. “Simplex shares the same vision of bridging the gap between crypto and the mass market. This integration marks that first step in making crypto more accessible to novice users, as well as simplifies trading for our seasoned crypto community.” Middle East’s Cbx Exchange Partners With Heliocor Heliocor, a regulation technology company from London, has announced a strategic partnership with Cbx, a global cryptocurrency trading platform based in the Middle East with independent operating teams in UAE, Hong Kong, Taiwan, Malaysia, and London. The deal is meant to enable enhanced due diligence of both institutional investors and retail investors in the Middle East. Heliocor offers a GDPR compliant cross regulation onboarding application that is now integrated into the Cbx trading platform, allowing the exchange to apply Know your Client (KYC) and Anti Money Laundering (AML) checks on its clients. Vikas Tripathi, Managing Director of Heliocor, commented: “Several companies from blockchain and cryptocurrency have engaged with us to help them overcome their ever-changing regulation challenges. We believe that cryptocurrency markets will form a key market for our technology, allowing us to apply our deep regulation and compliance knowledge in banking and financial institutions to further engage with the blockchain industry. We are delighted to be working with CBX to provide them with an enhanced due diligence capability and adding confidence to their users as they access the crypto market.” IPC’s Connexus Cloud to Add ICE Crypto Data Feed IPC, a provider of networking solutions for the financial markets, has announced it will include cryptocurrency data feed on its cloud platform from ICE Data Services, which is part of Intercontinental Exchange (NYSE: ICE). The Connexus Cloud connects 6,400 capital market participants across 750 cities in 60 countries including sell-side and buy-side firms such as inter-dealer brokers, liquidity venues, and clearing/settlement firms. Customers using the ICE Cryptocurrency Data Feed will be able to access real-time and historical data for over 60 digital assets, including BCH and BTC, from more than 30 trading venues. “The cryptocurrency market continues to make inroads with global investors, who rely on timely and robust pricing data to help with their critical investment decisions,” said Mike Smith, Director Global Exchange Relations Management at IPC. “With the vast ICE Cryptocurrency Data Feed now accessible by Connexus Cloud users, we continue to bring customers the vital information needed in this emerging and growing market.” FBI Is Looking for Bitconnect Victims The U.S. Federal Bureau of Investigation (FBI) is seeking potential victims who invested in Bitconnect (BCC). The agency asks anyone who invested in it to voluntarily complete a questionnaire on their website which will be used in the federal assessment of this matter. Based on the answers provided, the FBI may contact respondents for additional information. The FBI announcement recounts that Bitconnect guaranteed investors up to a 10 percent total return per month, following a tiered investment system based on the sum of an investor’s initial deposit. In December 2017, BCC boasted a market cap of over $2.5 billion but the price crashed in January 2018 after U.S. securities regulators warned investors of the Ponzi-type nature of the scheme. “This led to Bitconnect completely shutting down its exchange for BCC, eliminating the market for the cryptocurrency and stranding investors with near-worthless cryptocurrency,” explains the FBI. What do you think about today’s news tidbits? Share your thoughts in the comments section below. Images courtesy of Shutterstock. Verify and track bitcoin cash transactions on our BCH Block Explorer, the best of its kind anywhere in the world. Also, keep up with your holdings, BCH and other coins, on our market charts at Satoshi’s Pulse, another original and free service from Bitcoin.com. The post In the Daily: Sirin Labs Smartphone, Middle East Cbx Exchange, IPC’s Connexus Cloud appeared first on Bitcoin News. View the full article

This is a paid press release, which contains forward looking statements, and should be treated as advertising or promotional material. Bitcoin.com is not responsible for or liable for any content, accuracy or quality within the press release. KuCoin, one of the most popular cryptocurrency exchanges, has officially launched KuCoin Platform 2.0. In addition to brand-new interfaces for the KuCoin website, iOS and Android Apps, Platform 2.0 brings plenty of new features like a new WebSocket API, Stop Orders, Device Trust System, and SNS push notifications. KuCoin 2.0 is much more than a single exchange, it is a dynamic, secure and malleable trading platform that is able to provide stable and efficient services to KuCoin’s 5 million global users. “This upgrade is another milestone after our $20 million round A funding from IDG Capital, Matrix Partners, and NGC,” said Michael Gan, CEO at KuCoin. “As the ‘People’s Exchange’, we always listen to our users and have gained a number of insights during the R&D of Platform 2.0. The long-awaited multiple order types will better satisfy our investors’ trading needs. Meanwhile, the advanced WebSocket API and Rest API will contribute to improving our liquidity and market depth. We are confident that these features will make KuCoin a better place to trade.” KuCoin Platform 2.0 Advanced Brand New API – KuCoin’s APIs are designed to offer an easy and efficient way to develop a secure and programmatic trading strategy. LEVEL 2 and LEVEL 3 data has also been added. Various Order Types – KuCoin now offers users a suite of order types to give traders the tools they need for every scenario. These include Limit, Stop, Market, Post Only, Iceberg etc. Reliable Security Solutions – Multiple security mechanisms to protect users’ information and funds are our first priority. With the update, KuCoin now supports SMS authentication, a device trust system, and protective walls to reinforce user information and assets. More Attractive Fee Program – KuCoin will now be launching a new Tiered Trading Fee Discount Program, developing separate trading fees for Takers and Makers, creating high liquidity, and effectively reducing trading fees, all while improving transaction efficiency. More Convenient Self-service Management Features – Platform 2.0 has added support for internal transfers, self-service unbinding, self-service freezing/unfreezing of accounts, and other user self-service functionality to greatly improve service efficiency. Efficient Notification Module – The KuCoin WebSocket feed, together with newly added App and SMS push notifications, will let you easily gain access to real-time market data. KCS Surged 40% After announcing the news of the impending release of KuCoin’s Platform 2.0 upgrade on February 17th, KuCoin Shares (KCS) have gone up more than 17%, reaching $0.42. Soon after the completion of the upgrade, the token rallied to over $0.52, jumping almost 40% in three days. Similar to Binance’s BNB, KCS is the native token of the KuCoin Exchange. By staking the coin, holders can receive a pro rata share of 50% of all trading fees accrued by the platform, known as the KCS bonus. Also, according to KuCoin’s new tiered trading fee discount program, holding KCS will bring trading fees down to as low as 0.0125% for makers and 0.03% for takers. Investors who own more than 110,000 KCS could even get access to DMA and Colocation services. Michael Gan commented: “The price of KCS can partly reflect the public’s expectations for KuCoin’s future. Our Platform 2.0 brings many features that target institutional investors, and their attendance will contribute a lot to our market depth and trading volume alike. Meanwhile, another focus for us is to expand the use cases of KCS in the real world. One good example of this is that we recently worked with ETHLend to allow our users to get a crypto loan with KCS.” +++ About KuCoin The KuCoin Exchange opened for cryptocurrency trading in September 2017 and has enjoyed steady growth into 2018. The KuCoin exchange puts a high priority on the quality of the projects listed based on a well-trained research department that scours the blockchain industry for the highest quality projects. KuCoin provides an exchange service for users to conduct digital asset transactions securely and efficiently. Over time, KuCoin aims to provide long-lasting, increased value to its more than five million registered users, in over 100 countries. In November 2018 ‘The People’s Exchange’ officially partnered with IDG Capital, Matrix Partners, and Neo Global Capital. Press Contacts KuCoin: media@kucoin.com Supporting Link https://www.kucoin.com/ This is a paid press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not 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 the press release. The post PR: KuCoin Launches Platform 2.0 With Advanced API and Various Order Types appeared first on Bitcoin News. View the full article

On Wednesday, Feb. 20, the mobile phone manufacturing giant Samsung Electronics released its flagship smartphone, the Galaxy S10. Crypto enthusiasts will be pleased to hear that the new phone comes with the company’s proprietary Samsung Knox security system which stores blockchain-based private keys. Also Read: This ‘Faketoshi’ Signature Tool Lets Anyone Become Satoshi Nakamoto Galaxy S10 Houses Private Keys The relationship between Samsung and cryptocurrencies is official as the firm has released its latest Galaxy series that comes with a security system specifically designed to house digital currencies. This Wednesday, the South Korean electronics manufacturer announced the launch of the new Galaxy S10s which will be available in stores and online on March 8 throughout select markets. The smartphone is the first HDR10+ certified device, offers access to next-generation Wi-Fi 6 and features an Exynos 9820 chip. But cryptocurrency enthusiasts will be very pleased to hear that the phone will come with pre-installed hardware called Samsung Knox which is aimed at protecting blockchain assets. “The Galaxy S10 is built with defense-grade Samsung Knox, as well as secure storage backed by hardware, which houses your private keys for blockchain-enabled mobile services,” explains the firm’s announcement. Samsung Galaxy S10 series. The company has also introduced a foldable phone which will likely support Samsung’s Knox security. Samsung had tried to keep the cryptocurrency focused hardware system under the radar for months, but had problems with leaks. For instance, on Dec. 19, a Norwegian television station unintentionally aired the smartphone’s first commercial. Then on Jan. 27, leaked photos had shown images of the ‘Samsung Blockchain Keystore,’ which reportedly will start off by supporting ethereum (ETH) and bitcoin core (BTC). Samsung had previously filed for a smartphone crypto wallet trademark on Dec. 28, 2018. The “Samsung Crypto Wallet,” trademark UK00003363431 explains the wallet is meant for smartphones, tablets, portable computers, and other types of devices. The software is for “use as a cryptocurrency wallet for cryptocurrency transfers and payments using distributed ledger technology,” the trademark details. Leaked photographs of Samsung’s Blockchain Keystore. Samsung Follows the Blockchain Phone Trend The company’s trademark Samsung Knox mobile security solution is meant for securing important data like passwords and private keys. The Knox website emphasizes that individuals and organizations use smartphones every day for banking and accessing business information. Knox is meant to protect that data if it falls into the wrong hands the company claims. Interestingly, Samsung’s security software has a white paper that says Knox is used widely throughout industries such as government, finance and healthcare. Samsung’s entry into the blockchain space follows the smartphone giant HTC and the first cryptocurrency-centric smartphone called Exodus. Then there’s Sirin Labs’ Finney phone being sold at the company’s flagship store in London for $999. Samsung also released the Galaxy Fold this week which may have the built-in Samsung Blockchain Keystore and can fold in half. What do you think about the new Galaxy series which houses private keys for blockchain-enabled mobile services? Let us know what you think about this subject in the comments section below. Image credits: Samsung, and Twitter. At news.Bitcoin.com all comments containing links are automatically held up for moderation in the Disqus system. That means an editor has to take a look at the comment to approve it. This is due to the many, repetitive, spam and scam links people post under our articles. We do not censor any comment content based on politics or personal opinions. So, please be patient. Your comment will be published. The post Samsung Launches Galaxy Series Preloaded With Cryptocurrency Wallet appeared first on Bitcoin News. View the full article

Irish auctioneer Wilsons Auctions is to sell off 315 bitcoins seized by the Belgian government in a drug trafficking case that involved the dark net. The 24-hour online auction will start at noon on Feb. 28. Also read: Bitgo Obtains $100M Insurance Policy to Cover Crypto Assets Wilsons to Auction $390k Worth of Drug-Related Crypto Wilsons said in a statement that the loot, with no reserve, will be sold in lots ranging from 0.5 BTC to 4 BTC each. The 315 coins consist of 104.99 each of bitcoin core, bitcoin cash and bitcoin gold. The lots for BCH and BTG “will contain a larger number of coins” the auctioneer stated. Wilsons, which won a contract from the Belgian government for the auction, said the bitcoin has a fluctuating value of more than £300,000 (~$390,000) in total. As part of the deal, the auctioneer and advisory company will facilitate the storage and sale of seized crypto assets managed by the Federal Government of Belgium. Aidan Larkin, head of recovery at Wilsons, said: Following huge investment into our systems and infrastructure, we are able to offer government and law enforcement agencies worldwide a secure solution to the ever-increasing problem of seized cryptocurrencies. Larkin added: “This contract allows us to further expand our cryptocurrency offering and remove the risks that can be associated with trading with unregulated virtual currency exchanges.” Additionally, Mallusk-based Wilsons will physically sell a small amount of BTC during its unreserved government auction, which will take place in Belfast same day. Police Confiscate Censorship-Resistant Bitcoin In 2017 Belgian police reported to have seized about 1,050 BTC from drug dealers. However, liquidation of the confiscated crypto assets required that the country first implement laws governing these, as is the case with the traditional financial industry. That now appears to have happened, giving effect to the Wilsons BTC auction. In Canada, dark web drug dealer Mathew Phan is pleading to be allowed to keep half of the 288 BTC that police seized from him as proceeds of crime. With prosecutors seeking a court order to forfeit the crypto stash, worth CAD$1.4 million (US$1.1 million), the 30 year-old dealer argues that not all of his bitcoin was used for criminal purposes. The case is the first in which Canadian law enforcement has seized BTC, as well as comprising a well-orchestrated dark web trap. In doing so, the police have dealt a double-barreled attack against technologies that are generally off the radar of state authorities. While the case has its roots in crime, it sets an interesting precedent regarding how law enforcement is prepared to repeal anti-surveillance mechanisms. Founded in 1936, Wilsons Auction claims to be the largest auction company in the U.K. and Ireland. It offers a range of services from collection, storage, valuation, marketing, refurbishment, auction and distribution of any asset from cars and commercial goods to property and cryptocurrency. The company has also previously auctioned off monero (XMR) virtual currency. What do you think about governments seizing privately owned bitcoin and then auctioning it? Let us know in the comments section below. Images courtesy of Shutterstock. Express yourself freely at Bitcoin.com’s user forums. We don’t censor on political grounds. Check forum.Bitcoin.com The post Irish Auctioneer to Sell off 315 BTC Seized by Belgian Police appeared first on Bitcoin News. View the full article

Andy Singleton, the founder of securities exchanges Aboveboard, has published an article asserting that the security token offering (STO) market is “lifeless.” While Singleton acknowledges the efficiency savings facilitated by the introduction of distributed ledger technology to the securities industry, he argues that current offerings are plagued by poor liquidity and inadequate disclosure,. resulting in very little demand from investors. Also Read: Coinbase Wallet App Adds Bitcoin Cash Support ‘Nobody Is Buying’ In an article titled “The real STO market outlook: near death,” Singleton states that despite the “squad of zombie startups” that are “announcing infrastructure and posting deals for sales … nobody is buying.” Singleton asserts that the security token offerings conducted thus far comprise “bad investments” from the perspective of prospective buyers,” adding that the offerings do not have sufficient liquidity and typically incur significant fees. The Aboveboard founder stated: “The non-tokenized private security market absorbs about $50B a day in new supply, proving that there is a massive base of buyers for desirable securities.” By contrast, Singleton estimates that less than 1,000 individuals have participated in security token offerings. Inadequate Liquidity and Disclosure Singleton states that security token offerings are not designed to trade with significant volume, also asserting that STOs fail to “disclose enough information to allow a buyer to determine a fair price.” “Funds like Bcap and SpiceVC can only be purchased by US investors under special circumstances,” Singleton continued. “If they accept US accredited investors, they can only have 100 shareholders. They may create PFIC tax liabilities … And, they are tiny issues — under $20M in total float. The problem is not just that the market is early and it will grow. These securities are fundamentally not designed in a way that will allow much trading at any point in the future.” Further, Singleton asserts that many unregulated initial coin offerings (ICOs) have tried to “relabel” their fundraising offers as “equity securities” following increasing action taken against ICOs. STOs Facilitate ‘Important’ Technological Innovations Despite his criticisms of current security token offerings, Singleton has stated that STOs facilitate a number of “important” technological innovations pertaining to the securities industry, emphasizing “the fact that you can have real-time royalties and voting” using security tokens. Highlighting the need for STOs to add value to the securities sector, Singleton stated: “Putting an existing security into a blockchain wrapper doesn’t add much value to that security. The market will really take off when we see new types of deals and business models that require the flexibility of the tokenized format … Bitcoin is valuable because it did something completely new — it monetized and coordinated the efforts of an open source community.” Do you think that STOs will supersede ICOs in coming years? Share your thoughts in the comments section below! Images courtesy of Shutterstock The Bitcoin universe is vast. So is Bitcoin.com. Check our Wiki, where you can learn everything you were afraid to ask. Or read our news coverage to stay up to date on the latest. Or delve into statistics on our helpful tools page. The post Aboveboard Founder Claims ‘Nobody Is Buying’ STOs appeared first on Bitcoin News. View the full article