#Blockchain ‘India Wants Crypto’ Campaign Passes 100 Days With Growing Support

Posted on 8 February 2019 by Startup365

'India Wants Crypto' Campaign Passes 100 Days With Growing Support

A social media campaign for positive cryptocurrency regulation in India has passed 100 days with growing support from the community. Despite the ongoing banking restriction imposed by the country’s central bank, local crypto exchanges are reporting increased volumes and optimism about the upcoming regulation.

Also read: Indian Supreme Court Moves Crypto Hearing, Community Calls for Positive Regulations

Campaign for Positive Crypto Regulation

Friday marks the 100th day of a Twitter campaign for positive cryptocurrency regulation for India. The CEO of local crypto exchange Wazirx, Nischal Shetty, began his campaign on Oct. 31 last year, coinciding with the 10th anniversary of Satoshi’s whitepaper. Each day he tweets to lawmakers urging them to introduce positive regulation for India using hashtags “Indiawantscrypto” and “Isupportcrypto.”

On Thursday, Shetty told news.Bitcoin.com:

Every day there are 100s of retweets and likes and thousands of views.

The CEO proceeded to share his campaign stats. According to him, the 99 daily tweets up to Thursday have generated 1.48 million impressions, resulting in 57,374 user interactions such as retweets, replies, and likes.

The Message

Shetty explained that “With the bank ban in India it was important to surface the importance of India adopting crypto,” elaborating, “To do that, educating the government and the masses is a first step. This campaign’s objective is to spread awareness so that our government takes the right step towards crypto.”

'India Wants Crypto' Campaign Passes 100 Days With Growing Support

His series of tweets began with the message: “Please bring positive regulations in crypto and over 5 million crypto Indians will be thankful to you. Youth of India have found a new way to make wealth & this is especially important when there are not enough jobs for everyone.” Among the Twitter accounts he regularly tags are those for the country’s Minister of Finance and Corporate Affairs, Arun Jaitley, and Narendra Modi, the Prime Minister of India.

Exchange Trading Volumes Growing

Wazirx published its January performance report on Wednesday, claiming that it has consistently reached 50 BTC in daily trading volume. This announcement follows another on Jan. 23 which states that “Within 6 months of P2P launch, we’ve crossed Rs. 100 crores [~$14 million] worth of P2P trades.”

Another local crypto exchange, Instashift, is also seeing positive growth. Marketing officer Jacob Mani revealed to news.Bitcoin.com that his exchange’s Indian trading volume “is increasing day by day slowly with a lot of buyer and seller activity.” He added: “In the past two weeks, there were two days when [the number of] sellers were quite more than buyers. So, there is promising market activity in India.” Instashift operates in 45 countries including India.

'India Wants Crypto' Campaign Passes 100 Days With Growing Support

In order to drum up more volume, some exchanges are offering customers bonuses for fiat deposits. Pocketbits, a crypto exchange launched on Feb. 8, 2017, for example, recently announced that it is giving a 0.25 percent bonus to customers for fiat deposits.

Positive Vibes

There is a growing vibe in the community that the Indian government will eventually introduce positive regulation. In January, the Indian Ministry of Finance invited reputed law firm Nishith Desai Associates to present their suggestions for crypto regulations. Citing that the law firm “got some good space to present the case,” Mani believes:

There is a feeling that something positive might come out soon from the supreme court.

Since the Reserve Bank of India (RBI) issued a circular banning regulated financial institutions from providing services to customers dealing with cryptocurrencies, many exchanges have launched exchange-escrowed P2P services which, according to them, have gained much popularity. The country’s supreme court is set to hear the petitions against the ban at the end of this month.

The committee headed by Subhash Chandra Garg, Secretary of Department of Economic Affairs under the Ministry of Finance, is reportedly in the final stage of drafting crypto regulation.

What do you think of this campaign for positive regulation in India? Let us know in the comments section below.

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#Blockchain Markets Update: Leading Markets Break ATH Descending Trendlines

Posted on 8 February 2019 by Startup365

Markets Update: Leading Markets Break ATH Descending Trendlines

BTC price action has broken above a major long-term trendline stemming back to December 2017’s all-time highs. When looking at the 2014 – 2015 bear market, a similar move precipitated the final sell-off of the trend before price action moved into an accumulation pattern. BCH also appears to have broken above two major descending trendlines stemming back to the market’s all-time high in recent weeks.

Also Read: Public Transportation Across Argentina Can Now Be Paid With BTC

BTC Breaks Major Descending Trendline

Amid the anxiety and FUD surrounding BTC’s seemingly inevitable retest of support at 2018’s price low just above $3,000, price action has firmly broken above a major descending trendline stemming back to the all-time high of nearly $20,000.

Markets Update: Leading Markets Break ATH Descending Trendlines — BTC/USD – Bitstamp – 1D

The break appears to have taken place across multiple time-frames, however, only the current weekly candle appears entirely outside of the trendline’s range, and is yet to close.

When looking at the 2014 – 2015 bear trend, a comparable trendline was broken following 15 months of bearish fallout after the then-all-time high of nearly $1,200 was posted during the end of November 2013. While BTC would not produce a higher high until 10 months later, the break of the trendline comprised a catalyst for both a retest of the support area of the downtrend’s low and the upper side of the descending line, after which the markets channeled sideways to produce a multi-month accumulation pattern.

As of this writing, Bitcoin Core has a market capitalization of $59.64 billion and a dominance of 53.4%. BTC is currently trading for approximately $3,400.

BCH Breaks Multiple ATH Trendlines

BCH/USD appears to have broken two major trendlines stemming back to the market’s all-time high, in the process breaking out of a range that has guided price since November.

The first ATH descending trendline was broken at the end of October, with BCH gaining more than 50% during the following two weeks as price action rallied from roughly $410 to $640. The failure for prices to break above $650 created a secondary ATH trendline and led to approximately six weeks of selling pressure, during which the upper side of the broken trendline guided price action. After a dramatic rally during mid-December, BCH produced sideways consolidation, recently resulting in a break of the secondary all-time high trendline.

When measured against BTC, BCH has spent most of 2019 channeling sideways in a tight range between approximately 0.033 BTC and 0.036 BTC.

BCH currently is the fifth-largest cryptocurrency with a market cap of $2.04 billion and dominance of 1.83%.

XRP Retains Second Largest Cryptocurrency Market Cap

While the scale and speed of the parabola that drove XRP’s all-time high 14 months ago makes it hard to draw trendlines from the ATH area, XRP appears to have broken above its major descending trendline stemming from February 2018 during mid-December. As of this writing, XRP is trading for nearly $0.30 following several weeks of tight consolidation.

When measured against BTC, XRP has spent approximately 12 weeks consolidating between 0.000085 BTC and 0.00010 BTC.

XRP has continued to rank as the second largest crypto asset by capitalization, posting a market cap of over $12 billion and a dominance of 10.75% as of this writing.

ETH Holds Above $100

ETH price action has continued to hold above double digits following several weeks of tight consolidation, with ETH currently trading for roughly $105.

When measured against BTC, ETH has continued to test support at the 0.03 BTC area following nearly five months of sideways consolidation.

Ethereum is currently the third largest cryptocurrency with a market cap of nearly $11 billion and a dominance of 9.85%.

Do you think that the markets are preparing to shift gears, or will we see further downtrend throughout 2019? Share your thoughts in the comments section below!

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.”

Images courtesy of Shutterstock, Tradingview

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#Blockchain Public Transportation Across Argentina Can Now Be Paid With BTC

Posted on 8 February 2019 by Startup365

Public Transportation Across Argentina Can Now Be Paid With BTC

The national contactless smart card that is used to pay for public transportation throughout Argentina can now be loaded with BTC. These cards are valid for rides on buses, trains, subways, and motorboats in 37 cities, including the capital city of Buenos Aires, according to the Argentine government’s website.

Also read: Indian Supreme Court Moves Crypto Hearing, Community Calls for Positive Regulations

Top Up Sube Cards With BTC

Users of rechargeable contactless smart card Sube (Sistema Único de Boleto Electrónico) can start funding it with BTC for use in 37 cities in Argentina starting on Thursday, according to local news outlet cripto247.

Public Transportation Across Argentina Can Now Be Paid With BTC

These cards are promoted by the Argentine Secretary of Transportation and used to pay for public transportation services throughout Argentina. They are valid on “buses, trains, subways and motorboats,” the government website details. “To travel by bus or subte (underground metro) in Buenos Aires, you’ll need to get a rechargeable Sube travel card,” the Buenos Aires tourism website notes.

BTC top up of these cards is possible due to the integration of online card funding platform Alto Viaje and fintech startup Bitex. Alto Viaje is listed on the official government’s Sube website as one of the vendors that cardholders can use to fund their accounts. Alto Viaje explains on its website:

Sube is the only card that allows you to pay for public transport throughout Argentina.

Alto Viaje and Bitex

Alto Viaje now offers two funding methods for Sube cards: Paypal and BTC. Soon, the platform will also add funding through Rapipago, according to its website. “Alto Viaje decided to use Bitex’s infrastructure for the technology and liquidity it has, a necessary condition to face a project of this magnitude.”

Bitex CMO Manuel Beaudroit was quoted by the news outlet as saying, “We believe that this type of project is of great importance since it brings technology as disruptive as bitcoin to the common people, demonstrating the true value and the applications it has in everyday life.” He added that the minimum funding amount in BTC is 50 Argentine pesos (~$1.32), the publication conveyed.

Public Transportation Across Argentina Can Now Be Paid With BTC

Citing that his company wants to “offer safe and innovative services,” Luciano Verardo, Director of Alto Viaje, said that “the alliance with Bitex allows us to integrate the payment with bitcoins and new possibilities of financial inclusion for people and companies.”

In addition to the metropolitan area of the capital city of Buenos Aires, Sube cards can be used in the cities of Bahía Blanca, Catamarca, Cipolletti, Comodoro Rivadavia, Corrientes, Formosa, General Pico, General Pueyrredón, Gualeguaychú, Jujuy, Necochea, Neuquén, Olavarría, Palpalá, Paraná, Partido de la Costa, Pergamino, Pinamar, Rafaela, Rawson, Resistencia, Río Gallegos, Río Grande, Roque Sáenz Peña, San Carlos de Bariloche, San Juan, San Luis, San Martín de los Andes, San Nicolás de los Arroyos, Santa Fe de la Vera Cruz, Santa Rosa, Trelew, Ushuaia, Venado Tuerto, Viedma and Villa Allende.

Do you think many people will load their Sube cards with BTC? Let us know in the comments section below.

Images courtesy of Shutterstock and Sube.

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#Blockchain These Exchanges Allow You to Purchase Cryptocurrency Without Knowing You

Posted on 8 February 2019 by Startup365

These Exchanges Allow You to Swap Coins Without Knowing You

Platforms providing traders with the opportunity to exchange cryptocurrencies have increasingly started to apply registration requirements. In many cases, these are justified on the basis of newly introduced KYC and AML regulations. Thankfully, there are still exchanges that allow users to swap digital coins without requiring a verified account.

Also read: Coinsquare Lays off 40 Employees in a Troublesome Month for Crypto Exchanges

Losing the Balance, Again

The question regarding the balance between privacy and transparency predates the birth of Bitcoin. Decentralized digital currencies came into existence partly as a response to the trend of economies and societies moving in a cashless direction, which threatened privacy. In a way, they reintroduced the concept of cash, with its relative anonymity, into the digital space, and not at the full expense of transparency per se.

These Exchanges Allow You to Purchase Cryptocurrency Without Knowing You

This new balance has been challenged. Crypto exchanges nowadays find themselves caught in the crossfire between what many of their customers want in terms of privacy, and what regulators require them to do to limit it. Identity verification makes some sense in the case of crypto-to-fiat transactions, for tax purposes or to prevent illicit activities. But crypto-to-crypto transactions have also become a target and it’s not clear why – many countries, like Poland for example, exempt them from taxation.

Leading crypto exchanges operating in the U.S., Europe and globally are now collecting personal information from traders. This is sometimes done through loyalty programs that come with certain benefits and is often justified with the need to comply with new KYC and AML rules. These requests are usually accompanied with promises to protect the collected data. Critics have warned, however, that the risk of your sensitive info ending up with other vendors, being lost to hackers, or shared with some government, not necessarily your own, remains high.

Some crypto trading platforms have recognized the concerns of cryptocurrency users and offer services that are filling the gap left by established exchanges such as Shapeshift. We reported about some of the available alternatives last fall. New ones have since started to gain popularity among crypto enthusiasts including the following selection.

Platforms That Respect Your Privacy

One such exchange is Godex. It offers fast cryptocurrency swaps between over 200 digital coins with no exchange limits other than the minimum amounts required to cover the fees. After choosing a pair, a fixed rate is displayed which is what the trader receives if the exchange receives the amount within 30 minutes. According to a Bitcointalk thread, the platform does not have a central office, and its team is based in Ukraine, the U.S., Italy and Russia.

Users are not asked to share any personal data, set up an account or pass mandatory registration. Providing an email address is optional for confirmations and communication with support. “As we stand for absolute privacy, we erase all transaction data from our servers within a week,” the exchange states on its website. It keeps a minimum amount of information needed to process refunds, for example. That includes the email, transaction hash and the sender’s address.

These Exchanges Allow You to Purchase Cryptocurrency Without Knowing You

Changer.com is another crypto-to-crypto exchange that does not require an account, although it offers discounts for those who create one. If you don’t wish to do so, you can still exchange around 15 coins by providing an email. The trading platform offers its main page in a number of languages and controls two other domains – exchanger.com and the Russian obmen.com. There are mixed comments on crypto forums about its services, with most complaints related to support not answering emails on time.

Fairshift is an exchange that does not collect additional user data, except the information needed to process transactions related to a coin swap. No account is required to use the platform and “no personal info that can be stolen in the event of a hack or other compromise” is collected. Basic data about completed transactions, including refunds, can be seen in the “Past Transactions” section of Fairshift’s website.

Other sites offer limited privacy and conditional anonymity. Simpleswap, for example, says in its FAQ section “Yes, our service is anonymous.” Yet the online exchanger notes that there are exceptions. “Simpleswap collaborates with many partners. Our partners, according to their risk assessment and European AML directives, can apply for a photo of your ID valid in your country and information about the origin of your coins,” the platform explains without specifying the names of its partners.

Then there’s Coinswitch, an exchange aggregator that supports trades between more than 300 cryptocurrencies through integration with many leading exchanges such as Bittrex, Kucoin, Idex, Hitbtc, Shapeshift and others. Before placing a trade, however, users are required to register an account and provide name, date of birth, and country of residence, phone number and a valid email address. Only the last two entries have to be verified however.

Which privacy-oriented crypto exchange do you recommend? Tell us in the comments section below. Share your thoughts on the subject.

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.

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#Blockchain BCH Publishing App Honest Cash Partners With Patreon Alternative Bitbacker.io

Posted on 7 February 2019 by Startup365

On Wednesday, Feb. 6, the Honest Cash publishing platform powered by bitcoin cash partnered with the cryptocurrency focused Patreon alternative Bitbacker.io. The new partnership aims to bolster the Honest Cash and Bitbacker user base by providing individuals with the means to crowdfund projects while at the same time being incentivized with BCH for sharing unique content.

Also Read: Many Self-Proclaimed Bitcoin Inventors and Satoshi Clues Were Debunked in 2018

Honest Cash and Bitbacker Team Up

In November, news.Bitcoin.com reported on the launch of a new BCH powered publishing platform called Honest Cash. The platform arrived soon after the Nov. 15 BCH blockchain split and the popular blogging platform moved on to support the altcoin BSV. A month later our newsdesk spoke with the creator of the cryptocurrency-fueled Patreon alternative Bitbacker.io and explained how users can crowdfund projects with BCH and BTC. Adrian Barwicki, CEO of Honest Cash, and Jonathan Silverblood, founder of Bitbacker, explained during the partnership announcement that the ultimate goal is to create a larger audience.

“The relationship provides users of both Honest Cash and Bitbacker a larger audience reach — Both users will now have the potential to earn pledges and secure backing within both platforms,” explained the team’s announcement.

BCH Publishing App Honest Cash Partners With Patreon Alternative Bitbacker.io — Adrian Barwicki, CEO of Honest Cash, and Jonathan Silverblood, founder of Bitbacker, just announced they will be releasing a series of blog posts to inform users about the partnership integrations in the near future.

Crypto Powered Applications See Improvement and Growth

Both platforms have been adding a lot of improvements over the last few weeks. For instance, Honest Cash has seen significant growth as the BCH application has encouraged any kind of content including video, images, art, and prose. Some Honest Cash users have made upwards of $1,000 per content piece in bitcoin cash tips. Moreover, the platform recently added a native BCH wallet providing Honest Cash users with the ability to generate a new wallet and import existing BCH keys with custom HD derivation path support.

Bitbacker.io has seen a lot of growth as well, as many cryptocurrency advocates have switched from Patreon to the alternative application. The platform supports BCH, LTC, Smart, and BTC while providing a variety of the same features the centralized website Patreon supplies. LTC integration was also recently applied to the crowdfunding platform. Jonathan Silverblood spoke with news.Bitcoin.com back in December, when he explained that Bitbacker is able to charge close to 1 percent, while in contrast fiat-based platforms like Patreon and Youtube charge 10-30 percent.

Both Barwicki and Silverblood say they will soon be releasing a series of blog posts to inform users of both platforms detailing exactly what and when integrations will be made. The team says that the partnership is proof that when two innovative communities and developers support each other “incredible things happen.”

What do you think about the partnership between Bitbacker.io and Honest Cash? Let us know what you think about this project in the comments section below.

Image credits: Shutterstock, Bitbacker.io, Pixabay, and Honest Cash.

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#Blockchain 5 Crypto-Friendly Countries to Base Your Business

Posted on 7 February 2019 by Startup365

Choosing the best country to set up a business is vital in this digital age, and especially so for crypto companies. As governments around the world continue to learn more about cryptocurrencies and elect to either crack down on them or allow them to flourish, some jurisdictions emerge as being better than others for launching a crypto startup.

Also read: Markets Update: Traders Patiently Wait for Crypto’s Longest Bear Run to End

Take Time Choosing Where to Base Your Business

Many governments are still deciding what to do with cryptocurrency. While some are friendly towards it and see the benefit of crypto companies basing themselves in their jurisdiction, a number are openly hostile. If you’re planning to launch a crypto-related business, it makes sense to study the regulatory framework and government policy in a number of jurisdictions before reaching a decision.

Do you want to set up a business in a country that has historically had low taxation? If the country you are considering is receptive to crypto, and there are no signs of impending tighter regulation, will you still be able to attract investors? Does it have a vibrant ecosystem of fintech companies that will support your business? These are all matters that should be considered before setting up shop. The following crypto-friendly countries all have their attributes and are worthy of consideration before you settle on your HQ.

USA: Booming Bet Right Now

This U.S. is unsurprisingly a hotbed of crypto companies. Many high-profile cryptocurrency exchanges, custody providers, wallet developers, and miners operate from the U.S. and the government is working to enact a clearer legal framework for crypto-related businesses. Policy varies state to state, and while taxation guidelines in the U.S. have generally been unclear, in December lawmakers filed a bill to create tax exemptions for certain cryptocurrency transactions. The cryptocurrency community in the U.S. is thriving and the technology is slowly entering the mainstream. For example, Ohio last year allowed companies in the state to pay a variety of taxes, from tobacco sales tax to employee withholding tax, with bitcoin.

Switzerland: Established and Secure

Switzerland has long been a crypto-friendly nation. Its government has been open to the idea of cryptocurrency, encouraging crypto startups to set up shop there, and in December announcing a new legislative approach to blockchain. Switzerland’s tax rate is also attractive. In general, the country boasts a low-tax environment for businesses and many bitcoin service startups are already based in Switzerland. The country’s tax regulator considers cryptocurrencies to be assets, subject to wealth taxes that must be declared in annual returns. A 2018 report declared the top 50 cryptocurrency and blockchain-related companies in Switzerland’s “Crypto Valley” alone to be worth $44 billion. Bitcoin ATM manufacturer Lamassu moved to Switzerland due to problems with maintaining a bank account elsewhere and has been able to thrive in the progressive landlocked nation. And with some of the best universities in Europe, including the École polytechnique fédérale de Lausanne, which hosts an innovation park, there’s plenty of talent to choose from.

Japan: Ahead of the Game

With the number of crypto companies in Japan growing – December saw 190 companies express the intention of market entry – the tech-savvy country is an ideal jurisdiction to set up a cryptocurrency business. The island nation has a booming bitcoin and cryptocurrency industry and was one of the first and only countries to recognize cryptocurrency within its legal system. Adoption is growing in the country too, with many businesses, restaurants and cafes accepting crypto for payments compared to other countries and jurisdictions on this list. Last year the country’s Financial Services Agency published its draft report of new cryptocurrency regulations. The country also allowed 16 of the country’s largest crypto exchanges to build a self-regulatory body. This step shows how Japan is ahead of the game in terms of regulation and allowing crypto companies to flourish. As a result, more and more startups are moving to Japan to take advantage of the friendly regulatory environment.

Singapore: Low Tax, Lots of Talent

The business-friendly, low-tax and tech-friendly Singapore is another jurisdiction worth considering. Although the previous regulatory framework for crypto wasn’t entirely clear, and some businesses were unable to expand due to troubles with bank accounts, the country’s financial regulator said in October that it was very open to crypto companies working with banks to reach an agreement to allow these businesses to grow. Last year, the central bank of Singapore finalized the country’s new regulatory framework for payment services, which now includes cryptocurrency. Singapore isn’t quite on a par with Japan, but it’s moving in the right direction. Its large big tech and business community would also be ideal for attracting investors and talent for a crypto-focused startup.

Luxembourg: Most Economically Developed

A tiny country of little under 600,000, Luxembourg boasts one of the world’s largest cryptocurrency exchanges, Bitstamp. Tokyo-based Bitflyer also has offices in the European country after being granted a Payment Institution license to operate in the European Union. Luxembourg has long been a financial hub and business-friendly nation and the country clearly sees the potential of cryptocurrencies. Crypto exchanges in Luxembourg are governed by the CSSF and must follow the same rules as other financial institutions. Regarding taxes, cryptocurrencies are treated as intangible assets, and are not subject to income tax until they are disposed of, while cryptocurrency transactions are exempt from VAT. The country is also a good place to draw talent for a crypto company, with the innovative University of Luxembourg which is currently working to enhance the security of crypto assets.

What do you think about these countries and the way they deal with crypto companies? Let us know what you think about this subject in the comments section below.

Image credits: Shutterstock.

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#Blockchain Coinbase Noncustodial Wallet Adds BTC Support and Plans to Add More Assets

Posted on 7 February 2019 by Startup365

Coinbase has announced support for bitcoin core (BTC) in the company’s noncustodial wallet. The wallet was originally originally dedicated to ethereum (ETH), ethereum classic (ETC), ERC721 and ERC20 tokens. The San Francisco based company plans to add more currencies to the wallet in the near future.

Also Read: The Daily: F1 Team Gets Crypto Sponsor, Dubai Royal Partners Digital Assets Fund

Noncustodial Coinbase Wallet Now Supports BTC

After building a slew of custodial services, Coinbase released a noncustodial wallet for storing, sending, and receiving ETH, ETC, and a wide array of ERC-based tokens. Coinbase Wallet is a rebrand of the ‘Toshi’ client the company introduced back in April of 2017. The wallet also connects to a dapp browser that showcases certain ETH-fueled platforms. A few weeks ago Coinbase announced the development team was in the midst of adding BTC support to the wallet, and on Feb. 5, Coinbase representative Siddharth Coelho-Prabhu revealed that developers have fully integrated support for BTC. “Our goal with Coinbase Wallet is to create the world’s leading user custodied crypto wallet,” ran the announcement.

“Bitcoin support is activated by default — all you need to do is tap ‘Receive’ on the main wallet tab and select Bitcoin to send BTC to your Coinbase Wallet,” Coelho-Prabhu detailed. “Coinbase Wallet supports both newer segwit addresses with lower transaction fees, as well as legacy addresses for backward compatibility in all applications.”

**Setting up a new Coinbase Wallet with username and passcode.**

Just like the previous version of the wallet, the light client’s private keys are encrypted on your mobile phone or tablet using secure enclave technology. “This specialized hardware is considered the most secure way to safeguard private data on mobile devices,” Coelho-Prabhu explained. The Coinbase light client also supports the BTC and ETH testnets so programmers can work with testnet coins to deploy cryptocurrency integrated applications. At the moment most applications in the browser, like Peepeth, Instadapp, Totle, Cent, Smartdrops, Compound, Paradex, Oasis Direct, and Airswap are all Ethereum-based protocols. You can also click the “Discover Dapps” button to find more applications within the wallet’s browser.

**Backing up the Coinbase Wallet’s private keys and the BTC wallet interface.**

Bitcoin Cash, Litecoin, and Other Coins Will Be Supported Soon

Coinbase also details the company will be adding bitcoin cash (BCH), litecoin (LTC) and other popular digital assets soon. When BCH gets added to the wallet lineup there’s a wide variety of dapps that could be added to the Coinbase browser like Memo.cash, Craft.cash, Wormhole, the Simple Ledger Protocol (SLP) and Bookchain.

**The Coinbase Wallet’s dapp browser, testnet section, and active wallets.**

Not only has Coinbase announced BTC integration, but the company recommends Coinbase.com users should check out the wallet as it gives them control over their keys. The San Francisco company also emphasized the difference between the newly revamped wallet and the firm’s traditional brokerage operations.

“With Coinbase.com, you can buy crypto and Coinbase stores it (along with your private keys) for you; with Coinbase Wallet, you store your own crypto that’s safeguarded by a private key that only you know,” Coelho-Prabhu’s post concludes.

What do you think about the newly revamped Coinbase Wallet with added BTC support? Let us know what you think about this subject in the comments section below.

Image credits: Shutterstock, Jamie Redman, and the Coinbase Wallet.

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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#Blockchain South Korea Central Bank Says CBDCs Will Disrupt Financial Integrity

Posted on 7 February 2019 by Startup365

South Korea Central Bank Says CBDCs Will Disrupt Financial Integrity

South Korea’s central bank has warned that adopting a state-backed cryptocurrency as an official form of legal tender would threaten the country’s financial integrity. In a report, the Bank of Korea (BoK) said such a currency, also known as a central bank digital currency (CBDC), could result in a spike in interest rates and a liquidity crunch.

Also read: Australian Banks Fraudulently Collected Fees From Deceased Customers

‘CBDCs Will Cause Liquidity Shortages and Interest Rates to Rise’

Built on the blockchain, CBDCs are typically issued by central banks to work just like fiat money, but without necessarily replacing bank notes and coins. Korea said at the end of January that it was not considering issuing a government-backed digital currency anytime soon because there wasn’t any urgent need for one.

Now, the Asian country has issued a report to back up that decision. According to a newspaper article published in the Korea Times on Feb. 7, the BoK explained that the introduction of a CBDC will replace demand deposits held by local commercial banks. That’s because people will likely prefer the state-sponsored cryptocurrency, which they may deem safer and secure, to the domestic fiat unit, it said.

South Korea Central Bank Says CBDCs Will Disrupt Financial Integrity

The idea behind this thinking is that as depositors withdraw money from the bank, commercial banks will fall into a liquidity trap, forcing the money supply to drop. This will ultimately see interest shooting up.

Kwon Oh-ik, one of the co-authors of the Bank of Korea report, elaborated:

The central bank digital currency is a kind of a BoK-issued bank account. People trust it more than one in a commercial bank. Demand deposits are one of the biggest sources of loans for banks. When people pull out their money, banks raise rates, or lower the reserve ratio, to secure more funds.

Kwon further indicated that the BoK, which has conducted and recently completed a long-term study on cryptocurrencies, should be more cautious and analyze any negative consequences that could arise from the issuance of a CBDC.

Global Central Banks Show Interest in CBDCs

Cashless transactions have soared around the world in recent years, unsettling many of the control freaks who work for various governments. Bitcoin, for example, was created to challenge the conventional financial system and return the ownership of money to the people, beyond the reach of the state.

But this vision has not endeared it to global financial gurus who are steeped in tradition. Unsurprisingly, many national governments have raised concerns about cryptocurrencies and have called for tighter regulation while angling to issue their own versions of centralized digital currencies.

A recent report by the Bank for International Settlements showed about 70 percent of central banks throughout the world are researching CBDCs, although “this work is primarily conceptual and only a few intend to issue a CBDC in the short to medium term”.

South Korea Central Bank Says CBDCs Will Disrupt Financial Integrity — Christine Lagarde

However, the International Monetary Fund’s head Christine Lagarde has urged central banks to consider issuing digital currency to make transactions more secure. At a conference in Singapore in November, Lagarde argued that state-backed cryptocurrencies could satisfy public policy goals related to financial inclusion, consumer protection, privacy and fraud prevention.

“I believe we should consider the possibility to issue digital currency,” Lagarde said at the time. “There may be a role for the state to supply money to the digital economy. The advantage is clear. Your payment would be immediate, safe, cheap and potentially semi-anonymous. And central banks would retain a sure footing in payments.”

Citing the example of central banks in Canada, China, Sweden and Uruguay, which are all “seriously considering” the introduction of their own digital currencies, Lagarde said a state-issued cryptocurrency would be a liability of the state, just like fiat money. Such currencies could reduce the cost of transactions while maximizing security and spreading adoption, but they would not be censorship-resistant cryptocurrency in the true sense.

What do you think about CBDCs and financial stability? Let us know in the comments section below.

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#Blockchain The Daily: 13% of Shoppers Would Buy Amazon Crypto, Wirex Adds Stablecoin

Posted on 7 February 2019 by Startup365

The Daily: 13% of Shoppers Would Buy Amazon Crypto, Wirex Adds Stablecoin

In Thursday’s edition of The Daily we feature a recent survey that shows 13 percent of shoppers would be happy to buy cryptocurrencies under the Amazon brand. We also cover a new stablecoin integration by crypto card provider Wirex and a token promoted on Coinbase Earn.

Also Read: Abra Adds Stocks and ETF Investing to Its Crypto Exchange App

Survey: 13% of Shoppers Would Buy Amazon Crypto

Online commerce giant Amazon (NASDAQ: AMZN) has one of the strongest brands in the world. What started out as just an online bookstore has become almost a force of nature, taking over entire industries. The company also enjoys a great deal of trust with consumers, especially in the U.S. market where some people allow Amazon to unlock their front doors to make in-home delivery (Amazon Key), install its AI-powered listening devices (Alexa) and even to run the cloud computing systems of the CIA.

It would be fair to say that Amazon is more trusted and liked than most banks. Given this fact, it is not surprising that a good portion of its customers would also trust Amazon with their digital finance needs. A recent survey of over 1,000 Amazon clients by the financial portal Investing.com found that 12.7 percent of them would feel comfortable purchasing cryptocurrencies under the Amazon brand. This could be assumed to be anything from an integrated cryptocurrency wallet to an Amazon-issued token.

The Daily: 13% of Shoppers Would Buy Amazon Crypto, Wirex Adds Stablecoin

Wirex Adds First Stablecoin

Popular online bank and crypto debit card issuer Wirex has added a first stablecoin to its list of supported cryptocurrencies. Users of the Wirex platform in the European Economic Area (EEA) can now buy, store, convert and spend dai (DAI) with their Wirex Visa cards, the U.K.-based company announced in a recent blog post. This is the seventh token made available for Wirex users as the service already supports bitcoin core (BTC), litecoin (LTC), ripple (XRP), ether (ETH), waves (WAVES) and wollo (WLO).

The Daily: 13% of Shoppers Would Buy Amazon Crypto, Wirex Adds Stablecoin

“We want to give our customers access to a full array of cryptocurrencies. Stablecoins are yet another variation of crypto that demonstrates how easily and efficiently it can be integrated into everyday life,” commented Wirex co-founder Pavel Matveev. His co-founder Dmitry Lazarichev added: “Dai is an excellent tool to make international payments at low costs without the volatility. The token feeds into our ethos of enabling mainstream crypto adoption by streamlining traditional and cryptocurrencies. Dai is a solid addition to our existing cryptocurrency portfolio.”

Coinbase Takes a Swing With BAT

Back in December, Coinbase announced an initiative meant to incentive people to learn more about cryptocurrencies. The Coinbase Earn educational platform rewards users with tokens for completing various tasks such as watching videos and taking quizzes on crypto-related content. On Wednesday a section on Basic Attention Token (BAT) was added to the service, offering users the opportunity earn up to $10 worth of BAT in the process of learning about it.

The Coinbase Earn team explained to those new to BAT that “Basic Attention Token seeks to improve the efficiency of digital advertising with a token that can be exchanged between publishers, advertisers, and users on the Ethereum blockchain. The token can be used to obtain a variety of advertising and attention-based services on the BAT platform and the Brave browser.” The token quickly jumped over 10 percent in price, offering a valuable lesson in the power of Coinbase to move the market.

What do you think about today’s news tidbits? Share your thoughts in the comments section below.

Images courtesy of Shutterstock, Investing.com.

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#Blockchain A Millennial and Crypto Love Story: How This Generation Is Ghosting Banks

Posted on 7 February 2019 by Startup365

America’s youth has long been in a bad relationship with banks. Their predatory, self-serving practices have left a bad taste in the mouths of many young consumers, who have historically acclimated and resigned themselves to the system as they aged. Millennials have been accused of killing almost every industry, from golf to napkins, but now they’re on the cusp of the biggest breakup yet – with banks. Millennials might finally be the generation to leave their deadbeat ex and have the passion and optimism to envision a new way of doing things financially.

Also read: The Crucible of Privacy: Why Decentralized Exchange Is the Only Way

Breaking up With Banks

During the 2008 financial collapse, the Fed had to lower interest rates to 0 percent, right around when millennials were graduating from college (in debt from bank loans) and trying to build up their finances. Millennials could barely earn interest on their deposits, while banks continued to use those same deposits to charge consumers 25 percent interest on credit cards and keep over 90 percent of the value to themselves. Bank executives have had record earnings and bonuses since 2009, while most Americans struggle to finish the month in the green.

This is a completely one-sided relationship, with millennials giving and banks taking. Besides, healthy relationships are based on trust, and millennials just don’t trust banks. According to a 2018 study by Edelman, 77 percent of affluent millennials feel the traditional financial system is “designed to favor the rich and powerful.” 75 percent worry about the global financial system being hacked and losing their personal information, and 77 percent think it’s a matter of time before finance’s “bad behavior” leads to “another global financial crisis.”

So banks are bad news, and they don’t even pretend not to be. 70 percent of affluent millennials feel that financial service companies “make the purchasing process unnecessarily confusing/frustrating” and 71 percent say these companies leave them feeling “unsure” and “out of their depth.” This is a recipe for an unstable, manipulative relationship. Luckily, millennials have the sense to realize that and pull the plug.

The millennial disruption index slates banking as the most ripe industry for disruption, and reports that 71 percent of millennials would rather go to the dentist than “listen to what their banks have to say.”

The dentist!

The index also reports that all four of the leading banks are among the 10 brands millennials love least.

On top of all of that, banks have historically proved to be ageist, racist, and classist institutions that disfavor minorities in lending practices, fail to provide services to minority neighborhoods, and provide predatory rates to populations most in need. This is no pesky lovers’ quarrel. This is a breakup.

The Cryptocurrency Crush

Luckily, cryptocurrency is waiting to be that shoulder for millennials when banks break their hearts … and their wallets. It didn’t take long for millennials to notice – 17.2 percent of millennials own crypto already. And that number is higher for wealthy millennials: According to Edelman’s study, 25 percent of wealthy millennials own cryptocurrencies, a further 31 percent are interested in crypto, and a whopping 74 percent say technical innovations like blockchain make the global financial system more secure.

Crypto might have started out as the nerdy rebound, but it’s quickly prompting the friend-zoning of its jockey, broad-shouldered big name competitor banks. A Sustany Capital study found that 88 percent of millennials “want to own cryptocurrencies as an investment,” and 42 percent want to “use cryptocurrency as savings.”

The interest is there; we just need some good reliable friends to play matchmaker. Many millennials feel held back from diving into crypto only because of lack of education, but 97 percent of surveyed millennials and generation X said they’d like to learn more. 73 percent of millennials would be significantly more likely to invest in crypto if advised by a financial adviser. Crypto just needs a few good wingmen to help people understand how useful, safe, and fair it really is.

A Romance Built on Values

Lots of people are saying that crypto is a passing fad, like that time you were really into the double-popped collar look, especially as the market has declined in the last few months. But recent reporting by Bloomberg shows that although the price of bitcoin dropped by 80 percent during 2018, the total number of accounts opened has doubled to over 35 million during that same period, indicating that crypto’s popularity is just getting started.

Relationships that last through tough times are based on more than just attraction or novelty, but on deeper shared values. Crypto makes practical, financial sense for millennials: there are lower fees for using and transferring it since there are no middlemen involved, blockchain keeps a consistent and incorruptible record that means bankers can’t steal their money, and it’s impersonal, so there are no worries about discrimination based on previous student loans or social status. More than that, crypto also makes sense in principle to a generation that is moving away from exploitative business practices and buying with their consciences.

Values persist regardless of market highs and lows, as Charles Hoskinson, founder of Cardano, recently tweeted: “The headlines and carnival barking from the media about the current state of Bitcoin and recent losses show they have never gotten our movement. $150 billion in value has been liberated from the banking system and now exists in a parallel economy. Our growth remains unchallenged.” It’s about liberating the economy from the banking system, and that is true in bear and bull markets alike.

Millennials are looking for a new generation of services that will act in their best interest and help society in general by supporting the unbanked and under served. Crypto is the perfect mix of practical and passionate, paying the bills and fighting for a cause. For a generation toeing this balance like never before, crypto is a keeper – one that you can hopefully bring home to mom and dad.

Do you think millennials are breaking up with the banks? What will it take to help millennials get more involved in crypto? Will all generations begin to accept and adopt crypto?

Images courtesy of Shutterstock

OP-ed disclaimer: This is an Op-ed article. The opinions expressed in this article are the author’s own. Bitcoin.com does not endorse nor support views, opinions or conclusions drawn in this post. Bitcoin.com is not responsible for or liable for any content, accuracy or quality within the Op-ed article. Readers should do their own due diligence before taking any actions related to the content. 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 information in this Op-ed article.

This article was written by Alex Mashinsky. He is CEO of Celsius Network. He is one of the inventors of VOIP (Voice Over Internet Protocol) and is now working on MOIP (Money Over Internet Protocol) technology. Over 35 patents have been issued to Alex, relating to exchanges, VOIP protocols, messaging and communication. As a serial entrepreneur and founder of seven New York City-based startups, Alex has raised more than $1 billion and exited over $3 billion. Alex founded two of New York City’s top 10 venture-backed exits since 2000. Alex has received numerous awards for innovation, including being nominated twice by E&Y as entrepreneur of the year; Crain’s 2010 Top Entrepreneur; the prestigious 2000 Albert Einstein Technology medal; and the Technology Foresight Award for Innovation.

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