Indian Exchange Unocoin Launches New Trading Platform with 15 Cryptocurrencies

Indian Exchange Unocoin Launches New Trading Platform with 15 Cryptocurrencies

One of India’s major cryptocurrency exchanges, Unocoin, has announced the launch of its new trading platform, “featuring the whole set of tools for hardcore traders in the industry.” Fifteen cryptocurrencies can now be traded using its platforms.

Also read: Yahoo! Japan Confirms Entrance Into the Crypto Space

Unocoin Launches Unodax

Leading Indian cryptocurrency exchange Unocoin announced on Wednesday the official launch of its new trading platform called Unodax (Unocoin Digital Asset Exchange). The company wrote:

Going forward, Unocoin moves the live order-book trading platform to their exclusive new domain Unodax which would be featuring the whole set of tools for hardcore traders in the industry.

Indian Exchange Unocoin Launches New Trading Platform with 15 Cryptocurrencies

Indian Exchange Unocoin Launches New Trading Platform with 15 CryptocurrenciesThe company believes that the migration from its existing platform to Unodax “is being performed without any hiccups to Unocoin users,” noting that “users will retain their login credentials and transaction history across the sites post-Unodax launch.” In addition, the two platforms’ websites and apps will share the username and password, Unocoin explained, emphasizing, “For a user, nothing changes — except for the fact that you now get distinct websites that aim for speed and performance.”

Unocoin vs Unodax – the Differences

The leading Indian exchange’s website explains that Unocoin.com “is now exclusive to buy and sell bitcoin [BTC],” adding that there is “no price slippage up to 10 BTC,” execution is immediate, the transaction fee is 0.7%, and the minimum order is 1,000 rupee (~US$15). The company elaborated:

Moving forward, Unocoin.com can be used to store your crypto assets, and to buy or sell bitcoin from Unocoin’s accompanying brokerage services.

In contrast, Unodax.com will be used “to buy or sell other crypto assets” in addition to BTC, with the maker fee of 0.4% and taker fee is 0.6%. Furthermore, there will be “a bitcoin bonus (0.3%) on all your maker transactions,” to award those who bring “liquidity to the order book.”

Recently, Unocoin introduced the trading of 15 cryptocurrencies which are now listed on Unodax. They include BTC, BCH, ETH, LTC, XRP, BTG, BAT, FUN, ZRX, and OMG.

Indian Exchange Unocoin Launches New Trading Platform with 15 Cryptocurrencies

Prior to the Unodax launch, the platform added an “order-based trading feature on its platform as part of a suite of updates on its iOS and Android application,” initially supporting “six major crypto assets, i.e. bitcoin (BTC), bitcoin cash (BCH), bitcoin gold (BTG), litecoin (LTC), ethereum (ETH), and ripple (XRP),” the exchange wrote at the time.

Surviving RBI Order

Currently, financial institutions are in the process of closing bank accounts of cryptocurrency exchanges, per the order by the Reserve Bank of India (RBI). Banks have until July 5 to end their relationships with crypto companies. Meanwhile, petitions have piled up in court seeking the reversal of the central bank’s order. The Indian Supreme Court will hear the case on July 20.

Meanwhile, traders in India have flocked to crypto exchanges to trade cryptocurrencies ahead of the ban. Trading platform operators are also coming up with strategies to stay in business even after the central bank’s order takes effect. A number of them, including Zebpay and Koinex, have launched crypto-to-crypto trading platforms.

What do you think of this new platform? Let us know in the comments section below.


Images courtesy of Shutterstock and Unocoin.


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Devere Group Adds Bitcoin Cash and EOS to Crypto Exchange App

Devere Group Adds Bitcoin Cash and EOS to Crypto Exchange App

Devere Group, an international financial consultancy boasting well over 80,000 clients in more than 100 countries, has announced that Bitcoin Cash (BCH) and EOS have now been added its recently released cryptocurrency exchange app Devere Crypto.

Also Read: Bitcoin in Brief Thursday: Asus Creates 20-GPU Mining Motherboard

Crypto Portfolio Diversification

Devere Group Adds Bitcoin Cash and EOS to Crypto Exchange AppThis latest addition to the app means that users of the service, which also supports fiat USD, Euro and GBP, can now buy, sell, store, and exchange the two cryptocurrencies alongside the current roster of Bitcoin Core (BTC), Ethereum (ETH) Litecoin (LTC), Ripple (XRP), Dash (DASH), Monero (XMR) and Stellar Lumens (XLM).

Nigel Green, founder and CEO of the group, commented: “The addition of Bitcoin Cash and EOS to the Devere Crypto app is part of our ongoing commitment to clients. The users of the app are demanding an ever-wider, diversified crypto portfolio as the crypto sector expands and moves even further into the mainstream.” After the app released earlier this year, Green explained: “All the digital coins on Devere Crypto have different characteristics, strengths and values. As such these additions help to achieve portfolio diversification within this specific asset class and their individual traits make them useful in different ways for investors. I believe that there is no longer any doubt that cryptocurrencies in some form are the future of money.”

HNWIs

Devere Group Adds Bitcoin Cash and EOS to Crypto Exchange AppShedding some light on why the group has entered the crypto market, it also released the findings of a new poll in which it is revealed that 35% of high net worth individuals are now already invested in or will make investments in cryptocurrencies before the end of 2018. According to Devere, the 600+ respondents of this poll are some of the group’s wealthy clients who currently reside in the U.S., the UK, Australia, the UAE, Qatar, Switzerland, Hong Kong, Spain, France, Germany and South Africa.

CEO Green opined: “This mainstream expansion is clearly evidenced by the fact that more than a third of wealthy individuals around the world – who are already likely to be successful investors – are telling us that they already have exposure to crypto or that they will have by the end of this year. The survey’s findings demonstrate that high net worth individuals are increasingly unable to ignore the huge potential of cryptocurrencies. There’s now surging public awareness of the value, need and demand for digital, global currencies in a digitalised, globalised world. I expect that a broader awareness and understanding of the crypto sector will grow exponentially in the next year as the tech that underpins it further improves, as major corporations and financial institutions embrace it, and as regulation is further developed.”

What do you think about Devere adding BCH and EOS support? Share your thoughts in the comments section below. 


Images courtesy of Shutterstock.


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Apple Sides with Russian Govt, Restricts Telegram, Claims Pavel Durov

Apple Sides with Russian Govt, Restricts Telegram, Claims Pavel Durov

If there’s a sacred line the crypto community insists shouldn’t be crossed, it’s Thou Shalt Never Cooperate with Government Prohibitions. Apple Inc., the world’s most valuable company, appears to have ventured into such territory, according to Telegram’s founder Pavel Durov. He claims the maker of iPhone, iPad, and other iconic hardware, is purposefully restricting Telegram’s program updates on Apple’s latest operating system rollout in an effort to appease Russian authorities.  

Also read: Philippines’ Crypto Wallet Reaches 5 Million Users, Adds More Coins

Apple Inc. Sides with Russia Against Telegram

“Apple has been preventing Telegram from updating its iOS apps globally ever since the Russian authorities ordered Apple to remove Telegram from the App Store,” Telegram’s Pavel Durov wrote on his quarter million member Durov’s Channel. “Russia banned Telegram on its territory in April because we refused to provide decryption keys for all our users’ communications to Russia’s security agencies. We believe we did the only possible thing, preserving the right of our users to privacy in a troubled country.”

Apple Sides with Russian Govt, Restricts Telegram, Claims Pavel Durov

As reported in these pages two month ago, “Supreme Court Judge Alla Nazarova […] rejected an appeal filed by Telegram, objecting to Russia’s Federal Security Services (FSB) obtaining the encryption keys to its platform. As a result, Telegram will be legally obligated to grant security forces access to the private messages and other data of its users, unless it can convince an appellate court to reverse the decision.”

Weeks after, a kangaroo Moscow court upheld that decision, ordering Telegram to comply. Then, as like now, Mr. Durov took to his personal channel, explaining defiantly, “The power that local governments have over IT corporations is based on money. At any given moment, a government can crash their stocks by threatening to block revenue streams from its markets and thus force these companies to do strange things (remember how last year Apple moved Icloud servers to China). At Telegram, we have the luxury of not caring about revenue streams or ad sales. Privacy is not for sale, and human rights should not be compromised out of fear or greed.”

Apple Sides with Russian Govt, Restricts Telegram, Claims Pavel Durov

Apple Also Hounded by Russian Authorities

By late Spring of this year, Telegram had gone full protest mode. “For us, this was an easy decision. We promised our users 100% privacy and would rather cease to exist than violate this promise,” Mr. Durov stressed. “To support internet freedoms in Russia and elsewhere I started giving out bitcoin grants to individuals and companies who run socks5 proxies and VPN. I am happy to donate millions of dollars this year to this cause, and hope that other people will follow. I called this Digital Resistance – a decentralized movement standing for digital freedoms and progress globally.” Supporters even responded to Telegram’s call for a paper airplane mass fly, providing a profound and somewhat beautiful symbol of cryptography’s ultimate power.

For its part, Apple has been hectored by the Russian government’s telecommunications minder, which recently stressed, “In order to anticipate Roskomnadzor’s likely response to the violations regarding the operation of the aforesaid Apple, Inc. services we are asking you to notify us within the tightest deadlines of the company’s further actions regarding the solution of these issues,” Tass reported. The order was directed at both Apple and its App Store along with Google and its Google Play store to effectively drop Telegram.  

Apple Sides with Russian Govt, Restricts Telegram, Claims Pavel Durov

Mr. Durov lamented, “Unfortunately, Apple didn’t side with us. While Russia makes up only 7% of Telegram’s user base, Apple is restricting updates for all Telegram users around the world since mid-April. As a result, we’ve also been unable to fully comply with GDPR for our EU-users by the deadline of May 25, 2018. We are continuing our efforts to resolve the situation and will keep you updated.”

Do you think Apple should fight the Russian government ? Let us know in the comments. 


Images via the Pixabay, Twitter.


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Bittrex Launches USD Fiat Trading

Bittrex Launches USD Fiat Trading

Bittrex has finally introduced fiat currency support. The US exchange, which was established in 2013, subsisted with tether as its USD surrogate until recently, before adding another stablecoin, TrueUSD, a couple of months ago. Around the same time, its CEO Bill Shihara revealed that the platform would be adding USD pairs and today they went live for corporate clients.

Also read: Weiss Ratings Publishes Complete List of 93 Cryptocurrency Ratings

More Fiat, Less Tether

Bittrex, along with exchanges such as Binance and Upbit, has been gradually weaning itself away from tether, which for a long time was the only dollar-based hedge available. It has been speculated that the desire to list other stablecoins, and to eventually pivot to USD, was partially born out of a desire to be less reliant on the notoriously opaque tether. Whatever the reasoning, Bittrex has now secured the banking facilities necessary to enable fiat-crypto trading, and in Malta Binance is believed to be following suit.

Initially, the Seattle-based exchange will offer the USD paired against BTC, tether (USDT), and TrueUSD. This means that traders can swap between dollar-pegged tokens, which could be useful in the event of needing to send dollars to another exchange, or in the event of a stablecoin slipping from its dollar peg, as previously happened to TrueUSD upon news of its Binance listing.

Bittrex Launches USD Fiat Trading

Bittrex Signs with Signature

Bloomberg reports that Bittrex has inked a deal with New York’s Signature Bank. This will allow corporate clients in certain US states to make fiat deposits. While retail investors will be unable to benefit from this facility initially, Bittrex hopes to eventually roll the service out to all users who reside in states where it is licensed. As of today, May 31, corporate traders in Washington, California, New York, and Montana can make fiat deposits. Due to the restrictions in place, which will prevent the majority of Bittrex’ three million users from being able to participate, USD trading volume is likely to be low to begin with.

Bittrex Launches USD Fiat Trading“It’s been a long path [towards securing a banking agreement],” Bittrex Chief Executive Officer Bill Shihara told Bloomberg. “It’s not just about banks being able to trust Bittrex. It’s about banks being able to trust crypto in general. And I think it’s really showing that crypto is turning the corner in terms of mainstream acceptance.”

“They really do look and pore through the entire business,” Shihara said. “They want to make sure that we’ve got robust AML/KYC processes, that we’ve got the right controls on our finances. They do background checks and everything. They really look at our business soup to nuts.”

Will you use Bittrex’ banking facilities to deposit fiat currency once they’re available to retail investors? Let us know in the comments section below.


Images courtesy of Shutterstock, and Bittrex.


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PR: MoneyToken to Give out Loans in Stablecoin from Goldman Sachs-Backed Circle

MoneyToken to Give out Loans in Stablecoin from Goldman Sachs-Backed Circle

This is a paid press release, which contains forward looking statements, and should be treated as advertising or promotional material. Bitcoin.com does not endorse nor support this product/service. Bitcoin.com is not responsible for or liable for any content, accuracy or quality within the press release.

Following the announcement that Circle, a fintech startup backed by Goldman Sachs, plans to launch a stablecoin pegged to the U.S. dollar, the blockchain-based ecosystem MoneyToken has confirmed the listing of the stablecoin, Circle USDC, on its lending platform and decentralized exchange.

“USD-C is compliant and easy-to-cash-in alternative to Tether, and we expect a lot of requests from traditional and crypto business to add it as an option to our platform, I think that need was just in the air”
Alex Rass, co-founder of MoneyToken

MoneyToken is a worldwide blockchain-based financial services ecosystem, which provides opportunities for leveraging, borrowing and lending cryptocurrency assets. In early 2018 MoneyToken has announced strategic partnerships with several TOP-10 cryptocurrencies and was supported by founder of Bitcoin.com, Roger Ver, who has joined the MoneyToken’s advisory board.

USD-C is ERC-20 token based on the Ethereum network. Circle plans to offer USDC through Poloniex. It will also incorporate USDC in its social payments app and over-the-counter (OTC) trading desk.

Circle is a peer-to-peer payments technology company, which was founded in 2013 by internet entrepreneurs Jeremy Allaire and Sean Neville.

Circle has bought Poloniex exchange and was backed by $250,000,000 from Goldman Sachs, Bitmain, IDG Capital, Breyer Capital, General Catalyst, Accel, Digital Currency Group and Pantera, along with new investors Blockchain Capital and Tusk Ventures.

There is no direct connection between MoneyToken’s founder Alex Rass and Circle’s CEO Jeremy Allaire, but so quick reaction probably means some connections in between or with Goldman Sachs, that is interested to integrate their USDC coin into existing crypto ecosystem.

Contact Email Address
[email protected]
Supporting Link
https://moneytoken.com/

This is a paid press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release.

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Brisbane International is Now the World’s First Crypto-Friendly Airport

Brisbane International is Now the World's First Crypto-Friendly Airport

Last January news.Bitcoin.com reported on the Brisbane Airport in Australia preparing to accept cryptocurrencies. Now today all the merchants and airport terminals accept various digital assets such as bitcoin core, dash, ethereum, and steem making it one of the friendliest cryptocurrency airports in the world.

Also read: Yahoo! Japan Confirms Entrance Into the Crypto Space

Merchants at Brisbane International Airport Now Accept Various Cryptocurrencies  

Individuals traveling to Brisbane or the South East Queensland area in Australia can now spend various cryptocurrencies at the Brisbane International Airport. The airport is the third busiest airstrip in the country and every merchant there now accepts digital currencies. The cryptocurrency acceptance is due to Brisbane Airport Corporations’ (BAC) partnership with the Australian payment provider Travelbybit. On May 29, the Youtube channel, Nugget’s News Australia, visited the Brisbane airport when the new system was implemented. The host of the video Alex talked detailed that Brisbane is the first international airport that’s entirely “crypto-friendly.”

Brisbane International is Now the World's First Crypto-Friendly Airport
The Youtube channel Nugget’s News Australia visits Brisbane International Airport the day cryptocurrencies were implemented.

Caleb Yeoh, CEO of Travelbybit explains that people can visit the company’s website to see live transactions.

“We’ve got travelers from all over the world testing it out and I think the merchants are really excited — They have been telling us they have been getting a lot of interaction from all the different visitors and that’s created a bit of a buzz,” Yeoh explained during the video.

Blockchain technology has the ability to make transactions and global commerce a lot more efficient and a lot more transparent.  

Brisbane International is Now the World's First Crypto-Friendly Airport
Caleb Yeoh, CEO of Travelbybit.

Helping Retailers Maintain Relevance and Resilience

The representative from BAC explained that it is important for the company to give passengers choice when traveling to the airport. The BAC executive detailed that the partnership with Travelbybit helps their retailers maintain “relevance and resilience against the threat of online shopping.” Additionally, he stated that BAC would learn about cryptocurrency and blockchain solutions so it could possibly help further operations within the international airport.

“We’re happy to partner with Caleb and help our retailers explore this brave new world of cryptocurrency,” the BAC executive further noted.

What do you think about Brisbane International Airport accepting cryptocurrencies? Let us know in the comments below.


Images: Shutterstock, Youtube, and Nugget’s News Australia.


Want to get a few bits of BCH to test out this awesome technology check out our Bitcoin Cash Faucet today!

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Weiss Ratings Publishes Complete List of 93 Cryptocurrency Ratings

Weiss Ratings Publishes Complete List of 93 Cryptocurrency Ratings

US independent rating agency, Weiss Ratings, has published its complete list of 93 cryptocurrency ratings. The company has upgraded its BTC rating to B-. The list shows 14 coins with B ratings including ETH, IOTA, NEO, XRP, STEEM, TRX, and XLM. Fifty-four of the rated cryptocurrencies carry C ratings.

Also read: Yahoo! Japan Confirms Entrance Into the Crypto Space

Complete List of 93 Crypto Ratings

On Tuesday, May 29, Weiss Ratings made public its complete list of 93 cryptocurrencies rated by the company. The American independent rating agency, founded in 1971, has been rating approximately 55,000 institutions and investments such as stocks, ETFs, mutual funds, insurance companies, banks, credit unions, and cryptocurrencies.

Weiss Ratings Publishes Complete List of 93 Cryptocurrency Ratings

Compiled on Friday, the list shows an overall rating of B- for BTC and C- for BCH. It can be obtained by signing up with an email address on the company’s website until June 4.

Weiss Ratings Publishes Complete List of 93 Cryptocurrency RatingsNo cryptocurrency on the list has received an A or a B+ rating. Overall, fourteen coins were rated B or B-. ADA, DCR, EOS were rated B, whereas BTC, ETH, BTS, IOTA, ONT, NEO, XRP, STEEM, TRX, XLM, and ZIL were rated B-.

54 cryptocurrencies were rated either C, C+ or C-. They include BCH, DASH, DOGE, ETC, LSK, LTC, XMR, XEM, QTUM, SC, STRAT, UBQ, VEN, WAVES, and ZEC.

Weiss Cryptocurrency Ratings

The company started publishing crypto ratings on January 24 with the launch of “Weiss Cryptocurrency Ratings” that are “based on a groundbreaking model that analyzes thousands of data points on each coin’s technology, usage, and trading patterns,” the company described.

Weiss Ratings Publishes Complete List of 93 Cryptocurrency Ratings

At launch, Weiss Ratings gave BTC a C+, citing that “Bitcoin (rated C+) gets excellent scores for security and widespread adoption. But it is encountering major network bottlenecks, causing delays and high transactions costs. Despite intense ongoing efforts that are achieving some initial success, Bitcoin has no immediate mechanism for promptly upgrading its software code.”

Weiss Ratings Publishes Complete List of 93 Cryptocurrency Ratings“Investors should interpret the Weiss Cryptocurrency grade scale with these terms,” the company explained. “A = excellent; B = good; C = fair; D = weak; [and] E = very weak.” In addition, Weiss Ratings wrote, “A plus or minus sign indicates the upper third or lower third of a grade range, respectively. In addition, an F grade is assigned to cryptocurrencies that have failed or are subject to credible allegations of fraud.” The company’s list of 93 crypto ratings does not contain any coin with an F rating.

Under its system, Weiss Ratings elaborated:

Cryptocurrencies do not have to achieve an A grade to merit interest by investors. A ‘B’ or even ‘B-‘ also qualify as the investment rating equivalent to ‘buy.’ At the same time, investors should not be overly alarmed by a ‘C’ rating. It is a passing grade; and for investors, implies the equivalent of ‘hold.’

What do you think of Weiss’ crypto ratings? Let us know in the comments section below.


Images courtesy of Shutterstock and Weiss Ratings.


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Bitcoin in Brief Thursday: Asus Creates 20-GPU Mining Motherboard

Bitcoin in Brief Thursday: Asus Creates 20 GPU Mining Motherboard

In today’s edition of Bitcoin in Brief we feature news from all over the world. These stories include a new multi-GPU mining motherboard from Taiwan’s Asu; a Singaporean businessman acquiring a Japanese exchange; some ripple-loving alleged Russian hackers shaking down Canadian banks; and a Colombian soccer star launching his own coin.

Also Read: Austrian Financial Market Authority Stops ‘Active Managed Mining’ Operation

H370 Mining Master

Bitcoin in Brief Thursday: Asus Creates 20 GPU Mining MotherboardAsus (TWSE: 2357), the Taiwanese computer hardware manufacturer, has announced a new motherboard that increases density with support for up to 20 graphics cards, designed specifically for crypto miners. The H370 Mining Master greatly replaces its predecessor’s x1 slots with banks of vertical PCIe-over-USB ports that let riser cables plug directly into the motherboard.

The company explains that: “Mining is a numbers game; it’s only worthwhile if the value of the cryptocurrency you generate exceeds the cost of producing it. Increasing the number of graphics cards per node is a great way to stack the deck in your favor.” The motherboard includes several more mining-enhancing features including a suite of diagnostic features designed to make a rig easier to manage. Chief among them is GPU State Detection, which scans the system at boot and indicates whether each riser port is empty, connected to a functional graphics card, or whether it’s experiencing problems. It will be unveiled at Computex 2018 in Taipei, June 5-9.

Real Estate Entrepreneur Buys Bittrade

Singaporean property entrepreneur Eric Cheng has announced the acquisition of two Japanese companies for S$67 million, giving him a 100% controlling stake in FX Trade Financial and its affiliate Bittrade. Bittrade is one of only sixteen Japanese FSA-regulated cryptocurrency trading platforms. Speaking on the acquisition, Cheng commented: “The cryptocurrency industry is growing exponentially. Against this backdrop, the key to capturing the rising demand is having a well-regulated and licensed outfit. With this Japanese FSA-licensed platform, I will work closely with the regulators to scale this platform globally.”

Ripple Loving Bank Hackers

Bitcoin in Brief Thursday: Asus Creates 20-GPU Mining MotherboardHackers and ransomware cyber criminals usually prefer privacy coins such as monero, or just BTC to avoid having to explain too much about the crypto markets to their victims. But a new group, possibly from Russia, has been more successful with Ripple’s XRP. According to a report from Canada, an address with about $5 million in XRP is controlled by hackers who recently attacked two banks.

Bank of Montreal (BMO) and Simplii Financial revealed personal information about 90,000 clients of the two banks was being held hostage for $1 million, to be paid in XRP. The hackers, using a Russian email service, explained that the banks’ lack of education security has enabled the situation. “They were giving too much permission to half-authenticated accounts which enabled us to grab all this information,” they said, adding that the system “was not checking if a password was valid until the security questions were input correctly.”

$30 Million Gumi Cryptos

Gumi Cryptos is a new $30 million investment fund meant to help crypto ventures crack the Japanese market. It is led by Hironao Kunimitsu, founder and CEO of Tokyo-based mobile gamer publisher Gumi, and Miko Matsumura, founder of U.S.-based exchange Evercoin.

“We’ll be bringing startups from outside of Japan to the Japanese market,” Matsumura told Gamesbeat. “We like early stage. We invest in equity or tokens. We like financial services. We like game technologies, and we believe there is a strong connection between gaming and crypto.” He added that “Having advised top global cryptocurrency startups alongside some of the best investors in the world, I’ve come to realize that all of them struggle to break into Japan, the largest cryptocurrency market in the world. I’m excited to join Gumi and their well-respected network in Japan.”

James Rodriguez Coin

Bitcoin in Brief Thursday: Asus Creates 20 GPU Mining MotherboardColombian soccer star James Rodriguez, currently attacking midfielder for Bayern Munich Football Club, has announced he decided to create a new coin for fans to capitalize on his brand. The JR10 token, developed in collaboration with Selfsell, is planned to be used for exchange of match tickets, souvenirs, and exclusive merchandise as well as the opportunities to participate in Rodriguez’s fan club activities.

Previous crypto collaborations by soccer stars include Leo Messi promoting an ultra secure mobile phone for paranoid cryptocurrency users.

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


Images courtesy of Shutterstock, Asus.


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Philippines’ Crypto Wallet Reaches 5 Million Users, Adds More Coins

Philippines' Crypto Wallet Reaches 5 Million Users, Adds More Coins

Averaging more than a million onboardings per year, Philippines’ Coins.ph announced it reached a whopping five million users this week for its mobile payments application (app) and hot crypto wallet. Not content with merely adding numbers for their own sake, the company also revealed it would add two new popular coins: bitcoin cash (BCH) and ether (ETH).

Also read: Bitgrail Exchange Ordered Down Indefinitely as Italian Court Upholds Halt

Philippines’ Coins.ph Hits 5mil User Milestone

Founder Ron Hose enthusiastically explained, “We are excited and proud to provide 5 million customers with access to financial services. Our focus on creating financial inclusion to all Filipinos has propelled our growth to date.”

Many of the southeast Asian archipelago’s inhabitants struggle with inadequate economic opportunities and poor financial services. Nearly half of the Philippines is living on close to $2 a day, and its central bank, Bagko Sentral ng Pilipinas, estimated early last year that 86% of Philippines’ citizens are unbanked – bereft of basic banking services used by folks in the West every day.

Philippines' Crypto Wallet Reaches 5 Million Users, Adds More Coins

Those factors just might be features rather than bugs when it comes to cryptocurrency adoption. Indeed, for relatively smooth economies in the West, money is already digitized for all intents and purposes. Crypto adoption, as a result, in the West has been a bit of struggle: the immediate argument gets lost in money that ‘works,’ and works well.

For Filipinos to become one’s own bank, in effect, relying less on financial legacy permission and trust, a peer-to-peer currency out of view of its notoriously corrupt government seems to be proving very attractive if Coins.ph numbers are any indication.

Coins.ph Adds Bitcoin Cash (BCH)

“Millions of our customers have already used Coins.ph’s web and mobile apps to access a wide array of financial services,” CEO Ron Hose continued, “including buying load, paying bills, topping up their beep™ card, and purchasing digital currencies, all without needing a bank account.”

Five million users has come in only four years for the company. It was founded by Runar Petursson and Mr. Hose, both Silicon Valley veterans. Their services are a way for Filipinos to become banked, a potential market of over 300,000 people. In the past two years, it has raised a total of $10mil in venture capital funding, indicating investors believe the company to be “on” to something.

Philippines' Crypto Wallet Reaches 5 Million Users, Adds More Coins

Users of the company’s platform can take advantage of ever-important remittance services, card top-ups, wallet transfers, paying bills, and even online shopping. Just the mere notion of a friction-filled economy (as is the case within the Philippines), flattening and becoming more streamline would seem to forecast wonderful economic advancements for the nation, at least theoretically.  

“Responding to consumer demand for additional blockchain-based services,” the company notes it has already rolled out ether (ETH) acceptance in addition to its existing bitcoin core (BTC) offering, “with an eye for future smart contract based financial services, and will also begin supporting Bitcoin Cash (BCH) next month, in an effort to support lower cost blockchain based payments.”

Do you think more emerging economies will embrace crypto? Let us know in the comments. 


Images via the Pixabay, Coins.ph.


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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PR: Mesmr – Revolutionary Decentralized Media Platform Announced

Mesmr - Revolutionary Decentralized Media Platform Announced

This is a paid press release, which contains forward looking statements, and should be treated as advertising or promotional material. Bitcoin.com does not endorse nor support this product/service. Bitcoin.com is not responsible for or liable for any content, accuracy or quality within the press release.

Los Angeles, CA (May 30, 2018) — mesmr™, the blockchain-based new media ecosystem, is announcing the creation of mesmr.tv, a media platform designed for content creators and their audiences.

“mesmr was formed due to a lack of trust in today’s new media platforms. Our goal is to give everyone the power to unleash their creativity, own the rights to their personal data and to leverage the transparency of blockchain, giving brands a visible ROI on their marketing spend. We’re building a consumer-centric blockchain in the hopes that we can bring everyone into the world’s new operating system that is blockchain technology,” Dil-Dominé Leonares, mesmr founder and CEO stated.

The announcement comes in the midst of calls by content creators to revisit how the modern media platform manages revenue and access to content. With a unique token-based system, mesmr rewards all three parties—creators, audiences, and brands—for their participation on the platform.

“One of our goals is to drive mass adoption of blockchain technology by making everything very user friendly,” added Val Kantchev, mesmr’s Chief Technology Officer. “A lot follows from that user focus, including also the decision to build our own blockchain network.”

mesmr.tv rewards all participants for their engagement in the ecosystem. Based on their belief in on-demand income, mesmr.tv will be giving viewers tokens for their time spent watching ads, should the consumer choose to opt-in for this feature. In addition, they want to give them the option to either keep their data private or release it to advertisers for a fee. Their goal is to spur the adoption of blockchain by creating a platform that provides all the benefits of a token, without sacrificing user experience like other content sharing platforms in the blockchain industry.

The company is aiming to create a “content democracy”, where videos succeed or fail based on merit, not how well they fit into advertiser-friendly guidelines. The community decides what rises to the top. Creators receive 80% of the advertising revenue generated from their content, and community members can gain extra tokens for sharing content that performs well.

Over the next few weeks, mesmr will be rolling out their TGE (Token Generation Event) with a pre-sale set for June 15th. Allowing purchase of the mesmr token (MSMR) with Ethereum (ETH), they are expecting to generate over 350 million tokens with a value of $200 million USD.

To learn more about mesmr, you can visit their website mesmr.tv or view their whitepaper available here.

About mesmr:
Founded in 2017, mesmr is committed to creating a secure media ecosystem powered entirely by blockchain. The soon-to-be-released, mesmr blockchain will be powered by the Proof of Influence consensus protocol solving the unfairness of PoS (Proof of Stake) and the sustainability issues of PoW (Proof of Work). mesmr.tv is the first proof of concept that runs on the mesmr blockchain and utilizes the influence score.

Contact Email Address
[email protected]
Supporting Link
www.mesmr.tv

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