Sunday, March 31, 2019
Interesting-Paying Crypto Accounts Are This Year’s Leading Trend
2019 has witnessed a Cambrian explosion of crypto interest schemes. Previously, the only way to make a passive income on your cryptocurrency was through hodling and hoping it would rise in dollar terms, or to operate a masternode for a dubious altcoin. Today’s investors have it a whole lot easier thanks to a string of new savings programs that promise annual interest simply for locking up digital assets.
Also read: This Photo Gallery App Is a BCH Light Wallet in Disguise
Crypto Companies Are Borrowing From the Fiat Banking Toolbox
Last week, Nexo became the latest crypto company to introduce interest to its customers, with the provision of up to 6.5 percent annually on stablecoins DAI, PAX, USDC, USDT, and TUSD. Interest will be compounded daily and funds will be protected by custodial insurance. Unlike most of the crypto interest schemes to have emerged this year, Nexo enables its clients to withdraw any amount of cryptocurrency at any time. As such, their crypto account essentially becomes a checking account, stocked with dollar-pegged tokens, but bolstered by the promise of annual interest that exceeds that of most fiat saving accounts.
Nexo is by no means alone in incentivizing customers to secure their crypto in a custodial account and be rewarded. Blockfi will disburse 6 percent annually to clients who store ETH or BTC deposits. Ledgerx introduced its own interest-bearing BTC account last year for U.S. investors, while Compound provides up to 4.2 percent annually for assets such as DAI. At the start of March, Universal Protocol Alliance announced a stablecoin that would pay interest of up to 10 percent per year.
Cryptocurrency users have never had more options in terms of where to store their digital assets. Having had it drummed into them for years that noncustodial wallets are the best place to stash their coins, long-term hodlers now find themselves torn on account of the attractive interest rates offered by third parties. Even with the promise of full custodial cover, cryptocurrency owners face a dilemma: to seek the sanctity and privacy of storing funds in a noncustodial wallet, or to raise the risk a little in return for a generous 6 percent.
Balancing the Risks and Rewards of Interest-Bearing Crypto Accounts
When Blockfi announced its crypto interest scheme, eagle-eyed readers scrutinizing the terms and conditions spotted that the assets would not be insured against losses. While offerings from the likes of Nexo and Coinbase Custody are fully insured, consumers should nevertheless familiarize themselves with the small print before committing. Coinbase hasn’t begun offering crypto interest accounts per se, it should be noted: rather, it’s added staking as a service, which obliges hodlers to lock up qualifying Proof of Stake coins such as tezos (XTZ). The end result to clients is much the same as receiving interest however; by the time Coinbase has taken its 2 percent, stakers will be left with an annual yield of around 6 percent.
Staking and interest are not the same, as industry commenters such as Meltem Demirors have been keen to stress. For the end user, however, be it an institutional client who doesn’t want to “get their hands dirty” with the technical side of staking, or a retail client who doesn’t want to assume custody for their crypto, the outcome can appear indistinguishable. “Financialization of Bitcoin is inevitable and vitally important,” argued Zane Pocock in a Medium post on March 29. He continued:
Financialized structures allow for much better liquidity, debt structures, and other benefits that mean institutional custody and lending can be good for Bitcoin.
Pocock urged investors to do their own research into the interest accounts being offered by crypto companies and not to “fall for the illusion of free money. Bitcoin is our emergency exit from the outcomes of precisely that fallacy.” Crypto interest programs remain an alluring proposal, however, and their number is set to multiply over the coming year. As Shapeshift’s Erik Vorhees pointed out, once the inflationary nature of central bank currencies is factored in, crypto interest accounts become significantly more appealing than their fiat counterparts.
When comparing crypto-denominated interest/yield to fiat-denominated yields, remember to subtract 2-3% of the fiat yield due to inflation. Stated differently, compare the real yield of fiat returns to the nominal yield of crypto returns. The delta is what central banks r stealing
— Erik Voorhees (@ErikVoorhees) March 29, 2019
What are your thoughts on interest-paying crypto accounts? Let us know in the comments section below.
Disclaimer: 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. This editorial is for informational purposes only.
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Need to calculate your bitcoin holdings? Check our tools section.
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via Kai Sedgwick
New BCH Apps and a Special Giveaway in This Week’s Video Update From Bitcoin.com
In addition to learning about the latest developments in the world of Bitcoin Cash, you can take part in a special giveaway in this week’s video news update from Bitcoin.com. Streamed live and hosted by Roger Ver, the weekly show is shared on Bitcoin.com’s Youtube channel every Sunday.
Also Read: How to Print Your Own Bitcoin Cash Paper Wallet
Watch Bitcoin.com’s Weekly News Update
This week’s show features a special giveaway enabling viewers to win prizes such as hardware wallets, cool BCH t-shirts and other swag. To participate all you have to do is subscribe to the Bitcoin.com Youtube channel and leave a comment on the video regarding which Bitcoin Cash news item you are most excited about. 10 winners will be randomly selected by Wednesday and their names will be announced on next week’s show.
Among the topics discussed this week are the launch of the Cashshuffle coin mixing protocol on Electron Cash, a new Simple Ledger Protocol (SLP) explorer that lets users browse tokens built on the BCH blockchain, and a new app for customers to order menu items with their phones and pay with an integrated point-of-sale system using QR codes. Additionally features is the Peaceful Warrior online shop created by a group of female entrepreneurs from within the crypto space as well as the BCH community raising funds for young people in need from South Sudan.
Make sure to subscribe to the Bitcoin.com Youtube channel and leave a comment on the latest video for your chance to win.
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.
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via Avi Mizrahi
Cryptonaut Is an Easy to Use Portfolio Management App
Closely following market movements and price fluctuations is something every trader and investor in the crypto space must do in order to take advantage of opportunities and avoid losses. Cryptonaut is a portfolio management app that allows you to track your holdings in multiple cryptocurrencies.
Also read: New Crypto-Friendly Banking and Payment Services Launch in the UK and Russia
Application Tracks Thousands of Coins and Tokens
The Cryptonaut mobile app, available for both Android and iOS devices, has gathered positive reviews thanks to its intuitive interface and smooth performance. It lets you add virtually any coin or token you can think of and track the value of your crypto holdings in a number of fiat currencies, including major ones such as the U.S. dollar, the euro, and the British pound, but also Indian rupee, Russian ruble, and Turkish lira among others. Price charts for different time periods – hour, day, week, month, and year – can be displayed in BTC and ETH as well.
The option to set price alerts for the digital assets crypto traders are interested in is other useful feature. Each time the price of a particular coin moves above or below a preset level, the app sends a push notification that allows investors to adapt their trading strategy. They can also use the application to calculate the return on their cryptocurrency investments.
Cryptonaut is quite flexible in terms of registration requirements. Once the app is downloaded and installed, users are prompted to create a new account and log in or opt for a more private experience. They can either link an exchange account or simply input their portfolio data manually to protect their information. Accounts can be deleted from the Settings menu at any time.
Another positive to the portfolio management app is its availability in multiple languages. Cryptonaut has English, Spanish, Mandarin, Japanese, Korean, Russian, Portuguese and other versions.
Are you using a mobile app to track your crypto holdings? Let us know in the comments section below.
Disclaimer: 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.
Images courtesy of Shutterstock, Cryptonaut.
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 Cryptonaut Is an Easy to Use Portfolio Management App appeared first on Bitcoin News.
via Lubomir Tassev
Indian Supreme Court Takes Too Long on Crypto Case – Another Exchange Shuts Down
The inaction of India’s supreme court to end the prolonged banking restriction has forced another cryptocurrency exchange to shut down. The exchange has given its users 30 days to withdraw funds at increased fees, prompting several other exchanges to offer to refund these fees for customers switching to them.
Also read: Indian Supreme Court Set to Hear Crypto Case on March 29
Coindelta Shuts Down
Indian crypto exchange Coindelta announced its service termination on Saturday. The exchange wrote, “we will no longer be able to provide exchange services for cryptocurrencies,” elaborating:
The curb on the bank accounts by RBI has made us handicapped in order to provide seamless deposit and withdrawal services. There has not been any significant progress in the supreme court case which makes it difficult to predict when we will see the regulation.
The central bank, the Reserve Bank of India (RBI), issued a circular in April last year banning banks from providing services to crypto businesses including exchanges. The ban went into effect in July and banks closed the accounts of crypto exchanges at that time.
The banking restriction has put many crypto businesses in limbo. Zebpay, formerly one of the largest crypto exchanges in India, was forced to close down its exchange operations in the country in September last year.
A number of industry participants have filed writ petitions against the ban which the supreme court originally scheduled to hear in September last year. However, the case has repeatedly been postponed. During the most recent hearing which took place on Friday, the court adjourned without addressing the ban until at least July.
Expensive to Run an Exchange
The team at Coindelta, an 18-month-old exchange, explained that “Running the exchange is very expensive in such [an] unfavourable environment.” Noting that “We have been operating at a minimal trade fee, bearing all the costs ourselves ensuring that your trading experience remains unaffected in the current unregulated environment,” the team admitted:
It has been really difficult for us to operate Coindelta exchange for the last 6 months … Economically, it’s no longer viable to continue with the exchange.
According to Saturday’s announcement, Coindelta’s exchange services were suspended and all open orders canceled in all markets at 2:00 p.m. (Indian time) on March 30. However, the wallet services will continue until April 29.
Customers Forced to Withdraw Funds at High Fees
Coindelta has requested that its customers withdraw all their funds within 30 days of the suspension, after which all requests must be submitted to support. “There will be a fixed fee applicable on all the withdrawals,” the exchange warned.
According to the Indian crypto community, these fees are high compared to what other exchanges are charging. For example, “they increased the XRP withdrawal fees to 10 XRP,” Coindcx CEO Sumit Gupta told news.Bitcoin.com, emphasizing that this fee is “a lot” since his exchange charges 0.01 XRP for withdrawals. Coindelta’s BTC withdrawal fee is 0.002 BTC, worth about $8.19 at the time of writing.
Nischal Shetty, CEO of crypto exchange Wazirx, tweeted that he “Got many messages that withdrawal fees from Coindelta have been increased,” adding that his exchange is offering Coindelta’s users 100 percent refund of withdrawal fees if they switch to Wazirx.
Another Indian exchange, Bitbns, has made a similar offer. “We are waiving off/refunding any fee incurred while depositing funds to Bitbns from any other cryptocurrency exchange across the world. This means you can now transfer your funds from any crypto exchange to Bitbns without bearing any transfer charges,” the exchange announced on Sunday.
What do you think of the Indian supreme court taking so long to end the RBI ban that Coindelta has to shut down? Let us know in the comments section below.
Images courtesy of Shutterstock.
Need to calculate your bitcoin holdings? Check our tools section.
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via Kevin Helms
Saturday, March 30, 2019
The Darknet’s Largest Marketplace Is Closing – But a Replacement Is on Its Way
After more than five years of business, Dream is preparing to close its doors. The darknet marketplace (DNM) will shut up shop within a month, before relaunching under a new name and onion domain. The move has caused jitters within the darknet community, with buyers seeking reassurances that the site hasn’t been compromised by law enforcement.
Also read: 6 Popular Darknet Marketplaces That Accept Cryptocurrency
Dream Moves House to Evade the DDoSers
In the post-Silk Road era, Dream has came to be known as the darknet’s most reliable marketplace, both in terms of uptime and vendor reputation. It appeared to be impervious from law enforcement and from hackers seeking to extort money from the marketplace. In the last few weeks, however, Dream has suffered from intermittent service, with a determined DDoSer knocking the site offline. In a post shared on Reddit-like darknet forum Dread, Dream admins explained they were being extorted for $400K by the DDoSer, who has persisted with his attack for the past seven weeks.
Urging everyone to ignore the FUD suggesting the site had been compromised by law enforcement, Dream admins promised that the new-look market will be “as good as Dream.” As an infographic by the EU Drugs Agency shows, the number of scammy darknet markets has vastly exceeded the number of legitimate ones over the years. The loss of Dream has been hard to stomach for users, even if its replacement is promised to be every bit as good. Many customers rushed to withdraw their funds from Dream following the announcement, only to find the site had been knocked offline again, with pages loading sporadically.
While Dream Winds Down, Other Markets Prosper
The uncertainty over Dream’s impending closure has proved a boon to other DNMs, which have enjoyed an influx of buyers and vendors. Wall Street Market appears to have been the prime beneficiary; Point marketplace, meanwhile, has been suffering from its own bout of downtime. “I’m heartbroken,” wrote one Redditor in reaction to news of the darknet’s largest marketplace shutting shop. “I exclusively use Dream and it has never let me down.”
TMG has closed for registration while the whole Dream thing gets sorted out. The Hub has still not come back online. It's lights off in the dark web at the moment pic.twitter.com/QBCOt1Atf3
— Eileen Ormsby (the Darkest Web) (@EileenOrmsby) March 28, 2019
While Wall Street accepts BTC and XMR, Dream is powered by the two bitcoins – BTC and BCH. It is unclear whether its successor will retain the same format, both in terms of digital assets and wares. It’s also unclear how the move to a new onion domain will mitigate the DDoS attacks that have plagued the DNM of late. Buyers, many of whom use darknet markets to purchase narcotics, recall the time when law enforcement shut down Alphabay and then funneled users to Hansa, which they had also compromised. The latter served as a honeypot, and significantly increased the number of arrests while decreasing trust in the darknet’s opaque ecosystem.
There is nothing to suggest that Dream has been compromised, but until such a time as its replacement can launch successfully and rebuild trust, speculation will continue to mount. Will the domain earmarked for the rebranded Dream – weroidjkazxqds2l.onion – show the logo of the brand new darknet market leader when it launches? Or will it, as Silk Road did on the day of Ross Ulbricht’s arrest, show the logo of the Federal Bureau of Investigation? The DNM community shouldn’t have to wait long to find out.
What are your thoughts on Dream’s closure? Let us know in the comments section below.
Images courtesy of Shutterstock.
Need to calculate your bitcoin holdings? Check our tools section.
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via Kai Sedgwick
Supercharge Your BCH Workflow With Bitcoin.com’s SLP and Badger SDKs
Last summer, Bitcoin.com launched a developer suite so Bitcoin Cash (BCH) programmers could have access to a slew of resources, tools, and software development kits (SDK). At the time, the web portal contained three key tools for blockchain programmers: the Bitbox SDK, REST, and the GUI platform. Now, Developer.Bitcoin.com hosts two more SDKs so developers can build applications with Badger Wallet and the Simple Ledger Protocol (SLP).
Also read: Mempool ‘Spam’ and Rising Fees: The Consequences of Veriblock’s Mainnet Launch
Build Killer Apps With Bitcoin.com’s Developer Platform
Bitcoin.com believes that BCH has the potential to change the world and provide people with economic freedom. On account of this conviction, our web portal provides resources, tools, and other helpful services so individuals and groups can dive right into this innovative industry that’s transforming our world. After providing a wide variety of resources for retail investors and newbies, last July we launched Developer.Bitcoin.com in order to provide assistance to the BCH development community. The service includes a bunch of tools that leverage the BCH blockchain to build decentralized and censorship-resistant applications. Initially, the software included on Developer.Bitcoin.com consisted of Bitbox SDK, REST, and GUI tools, but we’ve added two more SDKs to the mix.
Badger SDK
The first is the Badger SDK which can act as a gateway to the world of BCH apps. Programmers can utilize the Badger API and provide website visitors with the ability to allow apps to request their permission to send BCH, send tokens, or authenticate with the Cash-ID protocol. Badger Wallet has become the BCH version of Metamask as it allows connections to a variety of BCH applications and tokens. For instance, it supports SLP tokens and has been easily integrated with popular platforms such as Satoshi Dice and Sideshift. The Chrome and Firefox-based Badger software has the ability to process micropayments and smart assets, fuel decentralized exchanges, and power distributed autonomous organizations. Badger is also connected to the Cash-ID protocol which can give users the ability to sign in to web pages and BCH-based applications and unlock content using their private keys. Developer.Bitcoin.com also hosts Badger React components that make integrating Bitcoin Cash into any project much easier.
SLP SDK
Lastly, the development suite now has a Simple Ledger Protocol (SLP) SDK so users can experiment with the SLP token universe. Ever since the launch of SLP cryptocurrency, people have been creating all types of tokens built on top of the BCH network. The SLP development kit provides programmers with a fully featured Javascript framework powered by Bitbox. This means developers will have access to everything they need to issue, spend or trade a token backed by the security of the BCH chain. The SLP framework is robust and extensible toward the light wallet ecosystem and programmers can apply multi-signature addresses and other Bitcoin script features with SLP tokens as well. Moreover, there’s a built-in console with REPL, Bitbox, and a Bitcoin Cash JSON RPC API. The SLP SDK is also coupled to REST, so no further setup is necessary.
Fueling Innovation and Economic Freedom
There’s been a ton of new applications that use the innovation and security instilled within the Bitcoin Cash network and at Bitcoin.com we want to keep the momentum going. Developer.Bitcoin.com is designed to bolster the innovation and building happening in the cryptocurrency space and all of the resources are free. At Bitcoin.com we hope our developer platform will help you change the world by leveraging the benefits of the peer-to-peer electronic cash system we all love.
What do you think about Developer.Bitcoin.com? Let us know what you think about this subject in the comments section below.
Image credits: Bitcoin.com
Need to calculate your bitcoin holdings? Check our tools section.
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via Bitcoin.com
Manufacturing Giants Bitmain and Canaan Announce Second-Generation Miners
On March 29, the two largest mining rig manufacturers, Canaan Creative and Bitmain Technologies, announced the sale of their next generation devices that process the SHA-256 algorithm. Both firms are gearing up to sell the new products this spring as a slew of mining operations have been prepping up new facilities in order to take advantage of the wet season in China.
Also read: Mempool ‘Spam’ and Rising Fees: The Consequences of Veriblock’s Mainnet Launch
Antminer 17 Series Available for Purchase on April 9
Bitcoin miners will be interested in the latest rigs that will be sold in the near future by the industry’s leading manufacturers. On Friday, Bitmain announced a sale date so the public can purchase devices from the Antminer 17 series which include the Antminer S17 Pro, Antminer S17, and the Antminer T17. The rigs will be sold globally on April 9, and come packed with Bitmain’s newly improved second generation 7nm ASIC BM1397 mining chips. During the announcement, Bitmain’s product manager of the latest Antminer series, Yangxin, revealed some details about the relationship between the company and the semiconductor foundry TSMC.
“The new miner offers a steep improvement in the hashrate in terms of space and power consumption,” Yangxin noted.
The BM1397 chips are produced using TSMC’s 7nm Finfet process and Yangxin claims the revamped 17 series will provide miners with 28.6 percent more efficiency than the previous 7nm equipped model using the BM1391. Yangxin stated that the future of mega-efficient SHA-256 miners will go beyond the 7nm scope. “From a technical point of view, there is no end to the development of technology. However, in the short run, the driving force behind the development of next-gen miners beyond 7nm chips is slowing down due to physical limitations,” Yangxin explained. The product manager continued:
With the nm size shrinking quantum effects, among other new challenges, come into play. It is promising that TSMC (Taiwan Semiconductor Manufacturing Company) is already in the process of building 5nm chips.
Bitmain’s announcement does not reveal the new products’ hashrate but the previous Antminer S15 produces 28 trillion hashes per second (TH/s). The 17 series specifications will be available on the official website when the devices go up for sale. Yangxin did disclose that there is a noticeable performance improvement compared to the previous generation chip and the 17 series models have a “higher hashrate in a single miner.”
Canaan Reveals the New Avalonminer A10
Following Bitmain’s announcement, Chinese firm Canaan Creative released information on the launch of its latest Avalon series. Canaan announced the new Avalonminer A10 on the company’s official Wechat account on Friday as well. Interestingly, Canaan’s ad says that the new miner will go on sale in March 2019, yet the official sale date is still unknown. Moreover, during the spring, Chinese miners have been flocking to Sichuan for cheap electricity during the wet season and mining operations have been buying up rigs for new facilities.
Canaan does reveal some of the specifications tied to the A10 device which include 31TH/s and power consumption of around 1736W off the wall. This means the machine boasts a possible 50W/T (watt per terahash) at max capacity. Other details such as the new Avalon rig’s price per unit are still unknown. The news follows rumors of Canaan reapplying for the company’s initial public offering (IPO) in Hong Kong because it expired. The finance publication Securities Times also reported that Canaan raised “several hundred million U.S. dollars” on March 11. Bitmain’s IPO application expired as well and the company has recently disclosed that the corporation will also attempt to go public again by reapplying.
What do you think about Canaan and Bitmain’s latest announcements concerning next-generation machines? Let us know what you think about this subject in the comments section below.
Image credits: Canaan Creative, and Bitmain Technologies.
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via Jamie Redman
New Crypto-Friendly Banking and Payment Services Launch in the UK and Russia
Two companies from different parts of Europe have recently announced new products that cater to the financial needs of businesses in the crypto industry. The services range from opening bank accounts to providing payment processing solutions. Developers say they will give crypto companies the peace of mind they need to focus on their core activities without having to worry about banking.
Also read: Cryptojobs Is a Platform With 1,300 Vacancies in the Cryptocurrency Industry
British Company to Open Bank Accounts for Crypto Businesses
Coinacquiring, a London-based consulting firm, has announced it now offers help in opening “crypto-friendly bank accounts” for companies in the sector. The corporate banking assistance will expand its portfolio, which already includes another sought after service, fiat-to-crypto payment processing provided to merchants accepting digital currencies.
The bank accounts will be available in multiple fiat currencies including British pound, euro, U.S. dollar, Swiss franc, and Japanese yen, along with many other currencies such as Czech koruna, Romanian leu and South African rand, for example. They will also support SEPA instant credit transfers and wire transfers via Swift.
Banking and payment processing services are in high demand in the sector and the company receives several requests a day as David Jones, senior payments consultant at Coinacquiring, told news.Bitcoin.com. Jones believes banks turn the crypto businesses away because they don’t fully understand how to evaluate risk in the crypto industry.
To provide more security and stability to cryptocurrency merchants, Coinacquiring maintains relationships with a number of traditional financial institutions. “We have several Tier 1 European banks we work with and also options with smaller banks further afield,” the company representative assured.
Coinacquiring charges a fixed $500 account opening fee and additional fees are negotiated directly between the merchant and the respective bank. Jones added that these processing rates typically tend to be between 3 and 5 percent.
“We know how difficult fiat to crypto payment processing can be to set up,” David Jones was quoted as saying in a press release sent by the company earlier this week. “We want to create a space where crypto businesses can focus on building exciting products and technologies instead of having to worry about whether their banking infrastructure is reliable or not,” he emphasized.
Coinacquiring also offers assistance with opening foreign exchange accounts, although this service is not that frequently requested. “As an extension to this we will look to provide some treasury management solutions for exchanges working in multiple fiat currencies. However, this is a few months off,” Jones explained.
The consultant noted that there are currently plenty of crypto-to-fiat payment processing options and Coinacquiring wouldn’t be filling a void if it decided to offer this kind of service too. “As we grow I guess it makes sense to include this for completeness more than anything else,” Jones remarked when asked about the company’s plans for the future.
Belarusians Develop Crypto-to-Fiat Payment Processing Software
Meanwhile, a new crypto-to-fiat payment processing system has been developed in Eastern Europe, despite strong existing competition in this niche. One of the established companies in the field, Paytomat, already has a network of merchants accepting cryptocurrencies using its services for instant conversion to local fiat. Their clients are based in a dozen countries around the world, from Ukraine to Venezuela.
Now Synell, an IT company headquartered in Belarus and with offices in Russia and the U.S., is promoting its offering to the growing market, its software capable of processing direct crypto payments and converting digital coins to fiat money for businesses that wish to provide their customers with the option to pay with cryptocurrency.
The platform, called Acquiring, can accept payments in three major digital currencies – bitcoin core (BTC), ethereum (ETH) and litecoin (LTC). The developers note, however, that support for other coins can be added upon request from interested parties. The team has also developed an API and a mobile application that enables users to receive payments directly at their store checkout.
The software package is now up for sale and offered to companies that would like to invest more time and effort into its further development and integration, Synell CEO Denis Gorskin told news.Bitcoin.com. The crypto payment processing platform, which costs $18,000, was originally designed for Russian clients but it can be adapted to any other market and already has an English-language version.
Do you think the launch of new services designed specifically for crypto companies indicates that the industry is recovering? Share your thoughts in the comments section below.
Disclaimer: 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.
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 New Crypto-Friendly Banking and Payment Services Launch in the UK and Russia appeared first on Bitcoin News.
via Lubomir Tassev
Book Flights and Hotels With BCH and 6 Other Coins at Bitcoin.Travel
The number of travel websites accepting cryptocurrencies has been growing with the popularity of digital coins. One well-established platform, Bitcoin.travel, now supports payments in seven cryptos, including bitcoin cash (BCH).
Also read: Cryptojobs Is a Platform With 1,300 Vacancies in the Cryptocurrency Industry
Travel Anywhere, Pay in Crypto
Bitcoin.travel works with businesses from the travel industry willing to accept decentralized digital currencies for their services. On the platform, which is available in dozens of languages, users can search for flights, hotels and rentals offered by numerous partners around the world.
Starting originally with BTC payments, the travel site has expanded the number of supported cryptocurrencies to seven. Currently, it can also process incoming transactions in bitcoin cash (BCH), ethereum (ETH), ethereum classic (ETC), litecoin (LTC), dash and dogecoin.
Travelers can book a desired destination, accommodation or other service using their preferred cryptocurrency. The payment is accepted on confirmation but is transferred to the provider at least 24 hours after guests check in.
Businesses are welcome to list their places and services on Bitcoin.travel free of charge, providing a description, pictures and price rates. As per the terms of service, they can request a withdrawal of the due amount a day after the arrival of their customer. Payouts are made in BTC, BCH, ETH, and LTC.
What other crypto-friendly travel websites do you know or use? Share your experience in the comments section below.
Disclaimer: 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.
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 Book Flights and Hotels With BCH and 6 Other Coins at Bitcoin.Travel appeared first on Bitcoin News.
via Lubomir Tassev
How India’s Election Could Impact Crypto Regulation
India’s impending general election could affect the government’s process of regulating the crypto industry. A local lawyer has explained to news.Bitcoin.com how the election can impact regulations. According to the Indian Election Commission’s code of conduct rules, no new law can be passed during the election.
Also read: Indian Supreme Court Postpones Crypto Case at Government’s Request
Election Could Delay Crypto Regulation
India’s general election is approaching with the voting due to take place in seven phases between April 11 and May 19. The results will be announced on May 23. Explaining how the election could have an impact on crypto regulation in India, Varun Sethi, founder of Blockchain Lawyer, told news.Bitcoin.com Saturday:
During election time in India, ‘aachar sanhita’ or code of conduct applies. Thereby no new law can be passed. Thereby we do not expect government to officially announce any regulation regarding cryptos or others.
Sumit Gupta, CEO of local crypto exchange Coindcx, also shared with news.Bitcoin.com that “According to the Election Commission’s Model Code of Conduct, no major welfare policy decisions can be made once the dates for general elections have been set.” He elaborated, “Since the dates for the 2019 general elections have been made public, the government of India might be able to ‘postpone’ crypto-regulations until after the general elections.”
Sethi further noted, “Till the time the supreme court case is pending for [the] hearing, the government is shielded from making an announcement.” He also clarified that laws could be passed immediately after the results of the election are out since “The code of conduct applies prior to elections not post it.”
The Supreme Court of India gave the government four weeks on Feb. 25 to come up with a report on crypto regulation. The court expected to hear about the regulation on Friday from the interministerial committee headed by Subhash Chandra Garg, Secretary of Department of Economic Affairs, Ministry of Finance. However, it adjourned at the request of the government’s counsel until July.
Crypto Regulation Not to Be Hurried
The Indian government has been drafting a regulatory framework for cryptocurrency for quite some time. Garg previously said on television that a draft crypto regulation would be ready in July last year. However, the government has yet to announce any form of regulation for the crypto industry.
At the end of last year, the Ministry of Finance told Lok Sabha that “the department is pursuing the matter with due caution,” adding that “It is difficult to state a specific timeline to come up with clear recommendations.” Nonetheless, the government told the supreme court during the February hearing that the panel was in the final stages of deliberations.
Sethi further shared with news.Bitcoin.com:
Post election, the government as a populist measure may consider adoption of new technology and cryptos could benefit from it. However that would happen only if the supreme court passes other than negative order.
Gupta remarked that crypto regulation is “a critical decision so it should not be taken in a hurry,” emphasizing that it is “best to take time to come up with a good regulatory framework rather than taking any wrong steps.” He asserted that the “election could be the most probable reason” for the supreme court’s decision on Friday “as everyone is busy with general elections … and no one wants to hurry in such a critical step.”
Meanwhile, Reuters reported Friday that Prime Minister Narendra Modi has predicted an easy victory, believing that “his ruling coalition would increase its majority in India’s upcoming election, despite some independent analysts suggesting it could disappear due to discontent over lack of jobs and depressed farm incomes.”
How do you think the Indian election could impact crypto regulation? Let us know in the comments section below.
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via Kevin Helms
Friday, March 29, 2019
What Article 13 Means for the Cryptocurrency Industry
First they came for our privacy. Then our data. Finally they took our memes. If the more hyperbolic headlines are to be believed, the EU’s ratification of the controversial Article 13 copyright law will have repercussions for purveyors of highly shareable online content. The reality is less draconian. Nevertheless, Article 13, coupled with last year’s GDPR laws, has ramifications for all tech companies, blockchain projects included.
Also read: Mempool ‘Spam’ and Rising Fees: The Consequences of Veriblock’s Mainnet Launch
Article 13 Passes But Memes Earn a Reprieve
The European Union’s General Data Protection Regulation (GDPR) law, described as “the most important change in data privacy regulation in 20 years,” received a mixed reaction upon its introduction last year. Within the cryptocurrency industry, the fallout was limited to a handful of projects that bowed out rather than accede to the incoming regulations. As hybrid blockchain company LTO Network noted, GDPR posed “an even greater challenge” to blockchain projects “due to the intrinsic characteristics of the technology, even causing some projects to shut down and go out of business.”
Now that the European Parliament has voted in Article 13, crypto businesses face yet another logistical challenge: how to remain compliant while operating public blockchain networks that are meant to be censorship-resistant, and thus impervious to copyright law. A handful of crypto companies, LTO Network among them, haven’t just adapted to new EU data laws – they’ve embraced them. The Dutch-based blockchain company provides GDPR compliant services to clients accessing public and private blockchains. This week it inked a deal with Signrequest, one of Europe’s biggest electronic signing parties to secure its documents on the LTO Network.
What Did the EU Meme by This?
Not everyone is enamored with the EU’s data directives. Digital liberties group Electronic Frontier Foundation has described Article 13 as “a censorship machine that puts thousands of daily activities and millions of internet users at the mercy of algorithmic filters.” Opponents of the copyright law include Tim Berners Lee, who is overseeing a decentralized social app called Solid that will enable users to own and control their data. Content shared “for purposes of quotation, criticism, review, caricature, parody, and pastiche,” will be excluded from Article 13, so memes should be safe at least. That’s just as well seeing how Article 13 itself has inspired a plethora of memes.
But what about other types of copyright content that might be uploaded to crypto networks, in contravention of GDPR or Article 13? When the copyright infringement claims start flying in, the crypto community will be watching attentively to see which so-called blockchains censor content that was uploaded onchain, and which ones refuse because either they won’t or they can’t. Article 13 was conceived to clamp down on the theft of intellectual property. How strange if its primary benefit came to be as a litmus test on the decentralization of crypto networks.
What are your thoughts on Article 13? Let us know in the comments section below.
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Community-Run Directory Surpasses 1000 BCH-Accepting Merchants
The number of merchants accepting bitcoin cash (BCH) is growing. According to a community-curated website, there are over 1,000 BCH-accepting merchants, grouped into over 40 categories. The site also separately lists organizations that accept BCH donations.
Also read: Indian Supreme Court Set to Hear Crypto Case on March 29
Directory of 1061 Merchants
Accept Bitcoin Cash is a community-curated directory of merchants that accept BCH. It currently lists 1,061 merchants as accepting bitcoin cash for products and services and 61 organizations as accepting BCH donations.
The main directory has 1,039 BCH-accepting merchants, divided into 41 categories such as accommodation, art & design, banking, cloud computing, communication, crowdfunding, crypto exchanges, developer, domains, education, entertainment, food, gambling, gaming, IoT, legal, mining, payments, and security.
Organizations that accept crypto donations and merchants offering adult products or services are listed separately. Under the “Donations” tab, there are five categories consisting of 67 organizations, 61 of which accept BCH donations. The “Adult” tab has three categories comprising 57 businesses, 22 of which accept BCH.
Merchants can be searched by name or browsed by category. Since the directory includes some businesses that accept other cryptocurrencies, site visitors can filter the listings to only show those accepting bitcoin cash.
“This is an open source project which accepts submissions from the general community,” the project’s Github page describes. The site charges no fees and the team behind the initiative has clarified that they “do not endorse nor confirm the legitimacy of any of the sites/merchants linked to on this site.” They further noted, “While we try our best to verify the information submitted, it’s possible that we may miss something.” The site has a form for any visitor to submit a request for a merchant be added to the directory.
The team additionally explained that their goal is to build a directory “with a comprehensive list of sites that accept or support bitcoin cash, as well as bitcoin (legacy),” emphasizing that “Our hope is to connect consumers and merchants, while spreading awareness and promoting global adoption of bitcoin cash.”
Bitcoin Cash Adoption Growing
The Accept Bitcoin Cash website also features a handy page that shows adoption statistics from all of its listings. Currently, 56 percent of all merchants listed in the main directory accept BCH, which is 1,039 out of 1,848. Meanwhile, 67 organizations accept crypto donations, 91 percent of which accept BCH donations. Furthermore, 90 percent of the websites that accept BTC also accept BCH, which is 982 out of 1,091.
Last month news.Bitcoin.com reported that BCH merchant acceptance is thriving in three regions. Since then, more BCH-accepting merchants have been added in those regions, according to data from Marco Coino.
Slovenia, a central European country, is in the lead globally with 257 merchants accepting bitcoin cash within its borders, 105 of which are located in the capital city’s shopping district known as Bitcoin City. There are also crypto-dispensing ATMs located throughout the premises. Australian state Queensland comes in second with 104 merchants while 61 are located in Japan.
What do you think of the Accept Bitcoin Cash initiative? Let us know in the comments section below.
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Cryptojobs Is a Platform With 1,300 Vacancies in the Cryptocurrency Industry
The sight of new job ads being published regularly, at a time when some businesses have been downsizing to cope with the crypto winter, is a positive sign. The importance of job boards connecting companies with professionals is growing, with Cryptojobs one such platform.
Also read: Coingapp Allows You to Exploit Arbitrage Opportunities Between Exchanges
1,300 Ads on a Crypto Job Board
Cryptojobs (crypto.jobs) is among the leading platforms specializing in posting new openings for those who wish to begin or continue their career in the cryptocurrency and blockchain industry. The website currently lists almost 1,300 jobs and adds new vacancies almost every day.
Users can filter the ads by categories, which include tech, design, business development, sales, marketing, operations, customer support, analyst, and other, as well as browse them by skills. They can also toggle between all jobs and remote positions, some of which are restricted to a particular territory.
Each job posting contains a description of the respective position and the specific requirements for the candidates. The ads also indicate if the job is a full-time or part-time engagement, a temporary contract or an internship.
Cryptojobs enables companies to post new jobs free of charge. A $199 paid upgrade provides them with unlimited applications, highlighted ads on the homepage, push notifications to subscribed candidates and other additional services. Job seekers can upload their resumes thanks to a recently added feature.
Have you used the services of a crypto-specific job platform? Tell us in the comments section below.
Disclaimer: 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.
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