Tag Archives: crypto

Binance Crypto Exchange Ready To Launch Margin Trading For Users

Binance Crypto Exchange Ready To Launch Margin Trading For Users

 
 

                                 

 

The cryptocurrency exchange Binance has recently confirmed

that it will be launching margin trading for different digital assets. In a recent tweet uploaded by the platform, the exchange revealed two different interfaces for Binnace, one completely white and the second one completely dark. In these images, it is possible to see that the exchange is already testing margin trading.

Binance Could Soon Launch Margin Trading

Binance is one of the most popular exchanges in the market and it has been working in order to attract a large number of users. After being launched in 2017, it became one of the largest platforms for traders in the space. This time, the intention is to offer new features to users, including margin trading.

At the moment, there is no information about which is the leverage level that the company is going to be offering to its users. As they didn’t provide any guide regarding their plan for the future about margin trading, it is not possible to know which are going to be the digital assets that will have margin trading activated.  There are different digital currency exchanges that are currently offering margin trading, including Poloniex or BitMEX. However, Poloniex doesn’t offer a very competitive platform for margin traders. Kraken is also offering margin trading to its customers, while Coinbase Pro does not compete in this category.

Binance, with a large number of users, an easy to use interface and a fast service, became a recognized digital currency exchange. The firm has been also affected by a hack a few weeks ago that resulted in the loss of over 7,000 Bitcoin (BTC), worth close to $40 million at the time. With this new implementation that could be rolled out in the near future, according to Changpeng Zhao, the CEO of the company, the intention is to attract investors that were using other platforms to trade digital assets with margin.

Alex Krüger, a recognized crypto investor, released a poll on Twitter in which 36% of the respondents answered that they are going to be long crypto when margin becomes active on the platform. 14% answered that they are going to be shorting crypto. 32% said that they are not planning to use margin. Finally, 18% selected the “see results” option. At the time of writing this article, Binance is the second largest crypto trading platform with a market capitalisation of $2.31 billion traded in the last 24 hours.

Try Out Binance Today

or over two years, UseTheBitcoin has done the research, covered the news, and helped readers find the best blockchain projects. The one thing we keep coming back to is Binance. Binance has set itself apart as the best trading platform for beginners and experienced traders, and gives you hundreds of coins to invest in. Start trading today on Binance!

Article Produced By
Carlos Terenzi

Carlos is an international relations' analyst specializing in cryptocurrencies and blockchain technology. Since 2017, Carlos has written extensively for UseTheBitcoin and other leading cryptocurrency sites; with over 2,000 articles published.
 

Deb Williams (hodlthrive)

Facebook set to launch its own Cryptocurrency called Globalcoin in 2020

Facebook set to launch its own Cryptocurrency called “Globalcoin” in 2020

                                

Facebook’s Crypto to be called “Globalcoin”

Social media giant Facebook is planning to launch its own Cryptocurrency named “Globalcoin” in the first quarter of 2020, according to a report from BBC. It is looking to start trails by the end of this year. Facebook recently registered a company called “Libra Networks” which is a Blockchain initiative that it has been working on for over a year. Even though Facebook has been secretive about its project, reports have emerged that the social media giant was looking for a Billion dollar funding for the Libra project.

Facebook has reportedly sought advice from the U.S Treasury officials and the bank of England governor Mark Carney regarding the opportunities and risks involved in creating a Cryptocurrency. According to FT, the company is also in talks with Winklevoss led Gemini and Coinbase for custody and trading solutions. Facebook is also in talks with payment giants like Visa, Mastercard and Western Union to collaborate and fund the initiative. The social media giant is looking to tap into the global remittance market by enabling cross border payments on Whatsapp in 12 countries including India.

Facebook’s Coin a Bitcoin Killer?

Facebook’s coin will most likely be a stablecoin pegged to fiat currencies like the dollar instead of a volatile asset like Bitcoin, there is no information available on the technical details of the Libra project. However, based on Facebook’s reputation of selling user data and its monopolistic tendencies, it is fair to assume that Facebook’s “Globalcoin” would mostly be centrally controlled, unlike Bitcoin’s decentralized governance. While some are critical of Facebook’s Crypto endeavor, others view it as a positive step for the mainstream adoption of Cryptocurrencies. One must not forget that Facebook’s humungous userbase which is larger than any online platform, any product released by Facebook will likely gain massive adoption and would be unprecedented in Crypto.

Article Produced By

Shrikar

https://blockmanity.com/news/facebook-set-to-launch-its-own-cryptocurrency-called-globalcoin-in-2020/

Deb Williams (hodlthrive)

Internal Revenue Service is All Set to Release Crypto Tax Guidelines

Internal Revenue Service is All Set to Release Crypto Tax Guidelines

The Internal Revenue Service recently announced that it would be fixing the new guidelines for tax on crypto.

Because the IRS identifies crypto as property and not currency, it is because it is taxable to purchase and sell crypto. Consequently, tax rules which apply for property transactions, such as the sale of collectable coins or vintage vehicles, but not real estate tax rules, are also applicable to Bitcoins and other cryptocurrencies. The fair market value of transactions measured in US dollars must be reported. So if you bought a Bitcoin pizza, you would have the Bitcoin available in dollars equivalent to pizza costs (fair market value).

IRS Commissioner Charles Rettig said in his new address to Emmer that the agency “had it as a priority” to issue the appropriate guidance. The directive specifically addresses issues like acceptable methods for cost basis calculation, cost-based allocation, and fork tax treatment.

Transactions shall be reported in US dollars at their fair market value.

Recent Twitter survey shows that the vast majority of crypto investors refuse to report taxes and are prepared to risk tough sanctions if they find out the unreported earnings from the Internal Revenue Service. Investing Crypto is already risky because it is an emerging market and technology which is not fully utilized at the moment, but it is absolutely flammable to avoid paying taxes. Exchanges work with IRS actively to provide customer information that can be used to compare reported profits or losses. Those who do not report correctly are at or worse risk of being audited.

Article Produced By
Roxanne Williams

Roxanne Williams has recently joined as a market reporter for CryptoNewsZ – the 24/7 crypto news site, where she produces recent stories, technical analysis and price updates on world's leading cryptocurrencies.

https://www.cryptonewsz.com/irs-to-introduce-guidelines-for-crypto-assets-related-taxes/20791/

Deb Williams (hodlthrive)

Just 376 People Found to Own a Third of All Ether Cryptocurrency

Just 376 People Found to Own a Third of All Ether Cryptocurrency

 

                                  

 
  • New study says so-called whales don’t move Ether prices much

  • Bitcoin price found to be good indicator of where Ether trades

Just 376 people hold a third of all Ether, the cryptocurrency that powers the Ethereum blockchain, according to new research by Chainalysis Inc.Large holders are known in the crypto market as “whales,” which Chainalysis defines as individuals who hold their assets in digital wallets and not on an exchange, Kim Grauer, a senior economist at the company, said in an interview. By comparison, 448 people own 20 percent of all Bitcoin, she said.Chainalysis also looked at the effect Ether whales have on price, and found that large holders don’t move their cryptocurrency often.

“The majority of whales aren’t traders,” she said. “They’re mostly holding.”

The study also found that when a whale moves Ether from a wallet to an exchange, there is a small but statistically significant effect on market volatility. Investor sentiment and the price of Bitcoin are strong indicators of where Ether will trade, the Chainalysis research found. As Bitcoin rallied 52 percent since the beginning of May, Ether rose 48 percent.

Grauer plans to turn the research into an academic paper analyzing the effect of large Ether holders on the market and will discuss the data Wednesday at the Consensus blockchain conference in New York. “We’re excited to bring the models that have been applied to the stock market to cryptocurrencies,” she said. The data on Ether was collected from early 2016 to the end of April, before Ether and Bitcoin surged in recent weeks. “It’s unfortunate this bull run didn’t happen a month ago to be part of our analysis,” she said, adding that the link between Bitcoin’s price and that of Ether backs up their findings.

Article Produced By
Matthew Leising

https://www.bloomberg.com/news/articles/2019-05-15/just-376-people-found-to-own-a-third-of-all-ether-cryptocurrency

 

Deb Williams (hodlthrive)

Ripple’s XRP Network Might Be Prone to Suffer Similar Outage As Stellar Lumens

Ripple’s XRP Network Might Be Prone to Suffer Similar Outage As Stellar Lumens

                               

 

On May 14th, the Stellar network went down.

The problem was caused by some of the validators of the Stellar Development Foundation going down. The incident caused many in the cryptocurrency space to question the level of decentralization of the Stellar network. In a blog post, Stellar promptly responded to the outage and the “over-centralized”

critiques of the network.

“We’ve seen claims that Stellar is “over-centralized” and that somehow a failure with SDF’s nodes dragged down the whole network. Ironically, the opposite is true. Stellar has added many new nodes recently. In retrospect, some new nodes took on too much consensus responsibility too soon. We need better community standards around maintenance timings, quorumset building, and validator configuration.”

Ripple CTO David Schwartz was impressed by the way Stellar handled the situation. He laid out his thoughts on the matter in a Twitter thread. Schwartz broke down the issue and explained that similar problems could possibly arise on

the Ripple network.

“The same thing can happen on the XRPL. If too many validators are missing, the network will halt because there’s no way to be sure that they’re not validating other ledgers and you just can’t see them due to a network issue. “PoW system make forward progress even where forward progress is unsafe. XRPL and Stellar do not make forward progress under potentially unsafe conditions.”

Schwartz went on to breakdown how the Stellar protocol actually worked as intended. The temporary shutdown is actually a better result than the chaos that could ensue. An accidental hard fork could occur if the consensus protocol fails. Schwartz’s explanation caused a lot of hardcore Ripple fans to take a step back to look at the bigger picture. Many even admitted to and expressed remorse for their knee-jerk reactions and trollish responses. Ultimately, to avoid this particular issue, more validators are needed. This means that more users and validators are needed. And as the cryptocurrency community strengthens and the number of participants grows, security and efficiency go up.

Article Produced By
Stephen Brown

Cryptocurrency enthusiast and Expert in content creation and planning, project management, process improvement, media operations, and staff training. BA in Political Science from Brooklyn College. Contact: stephenbrown [at] zycrypto.com
 
 

Deb Williams (hodlthrive)

Roger Ver Debunks Craig Wright’s Claims that He Owns Some of the First BTC Adresses

Roger Ver Debunks Craig Wright’s Claims that He Owns Some of the First BTC Adresses

                                  

Satoshi Craig Wright sued Bitcoin Cash figurehead,

and former business partner, Roger Ver for libel after being called a “fraud and a liar.” Ver responded by seemingly debunking Wright’s claim that he controlled several high-profile Bitcoin addresses. For two weeks we thought that tensions between Satoshi Wannabe Craig Wright and the rest of the planet had been quieted down. However, seems that poor Wright needed money to pay out Calvin Ayre’s sun tan he is getting in Antigua so he decided to show up again. Well, at least he stays consistent. Just to remind you, Ver got served a lawsuit by Wright at a Bitcoin Cash summit two weeks ago. He was sued for calling Wright a scammer and a liar in a video which has been removed as it goes against set rules by the YouTube community. However, Ver has now released a copy of the video on Twitter. We had a chance to ask him to comment on this whole situation even before he got served.

He said:

“I think Craig Wright cut his own side. He is always on his own side and if his side, maybe for the moment or for the day lines with someone else’s, he may join someone’s side just for the day but as far as I can tell – he is on his own side.

Bitcoin cash is community that wants to build P2P cash for the people around world to use and we want everybody to be able to benefit from that. I know he is suing everybody with different opinion than his. They said they’re suing me but they didn’t serve me yet. But I am sure he wants to sue me.”

However, it seems that Roger finally got sick of it (like every normal person would) and he decided to strike back. Ver responded to the lawsuit by seemingly debunking Wright’s claim that he controlled several high-profile Bitcoin addresses, which would have suggested that Wright is Satoshi Nakamoto. The addresses, which were described as a “lazy copy-paste job,” was supposed to prove that Wright owns some of the first Bitcoin addresses ever created. Ver decided to debunk his claims by using one of the listed addresses to create a signed message. Crypto enthusiasts and avid followers of the Wright soap opera were quick to verify the signature, which did indeed show that the address was not owned by Wright.

Satoshi, Solotoshi – Is There Any Difference?

In the meantime, a few days ago, we could hear another, yet not mentioned name to stand behind the Satoshi suffix. Satoshi Nakamoto person, or whatever that is, has not been seen online in more than eight years. Evidence has now surfaced that points to a new Satoshi candidate, whose known life has a number of parallels with that of Bitcoin’s inventor. His name is Paul Solotoshi Calder Le Roux and, if he would actually be the real Satoshi, he would have had a good reason why his 1 million BTC hasn’t moved – the Rhodesian has been in jail since 2012. Even if Le Roux did create Bitcoin, it does not follow that money laundering was his goal: it would likelier have been an extension of his obsession with cryptography, which can be traced back to the 90s.

If it’s to believe what Wikipedia says, he was a brilliant programmer and privacy ideologue who worked on E4M (Encryption for the Masses), software which “is capable of encrypting entire disks, and optionally of plausible deniability (denying the existence of an encrypted volume).” However, not to be boring, presidential candidate and software developer, John McAfee had to have his tweet: Even though McAfee vowed to reveal the identity of the anonymous Bitcoin creator known as Satoshi Nakamoto, he later backed out, saying lawyers warned him it could complicate his plan to fight extradition to the U.S. from the Bahamas. However, when asked about this, a Justice Department spokesman in Washington said that he had no information.

Adam Back: Satoshi is An Individual

Last but not least comes from Blockstream CEO Adam Back who claims that Satoshi is an individual, not a group of people. Black may be important because he is the person who was actually cited in THE Bitcoin’s white paper. According to Back, this explains why the real identity of the person who started it all hasn’t been revealed yet. It’s hard to keep secrets when a group of individuals is involved.

He said:

“It just seems like something one person would do to me.”

Article Produced By
Teuta Franjkovic

Experienced creative professional focusing on financial and political analysis, editing daily newspapers and news sites, economical and political journalism, consulting, PR and Marketing. Teuta’s passion is to create new opportunities and bring people together.

https://www.coinspeaker.com/roger-ver-debunking-craig-wright/

Deb Williams (hodlthrive)

Altcoin: Cryptocurrency Market is Expanding

Altcoin: Cryptocurrency Market is Expanding

                                

Bitcoin is widely regarded as the Founding Father of all contemporary cryptocurrencies.

People first heard of Bitcoin in 2009 when Satoshi Nakamoto, whose identity still remains unknown, revealed an open-source code that was actually an improved conceptualization of a cryptography method known as blockchain. Nakamoto has successfully implemented a proof-of-work algorithm that came to be known as the bitcoin software.

 

Bitcoin laid a foundation for the development of other cryptocurrencies which obtained the collective name ‘alternative coins’ – altcoins. Less than ten years later since Bitcoin emergence, we officially have more than 1600 cryptocurrencies, with new kinds of this digital cash being introduced almost on a weekly basis. They are based on different algorithms and blockchain types, have different value and purpose, some of which will be described later in the article, but Bitcoin still remains a dominant currency that usually sets the market trends for the rest.

Altcoins are pushing harder

However, everything indicates that this prevalent position is gradually diminishing with altcoins gaining more popularity as well as market capitalization. According to the study conducted by the employees of the City University of London, there are 600 cryptocurrencies, aside from Bitcoin, which are being actively traded on crypto exchanges around the world. Coinmarketcap shows that the percentage of total market capitalization (TCM), also known as ‘dominance’, of Bitcoin with regard to altcoins has been reducing exponentially. In 2017, Bitcoin held as much as 86.29% of TCM, but in just two years it was reduced to 47%. It means that altcoins will continue to attain a strong footing in the crypto world and have more and more fields of application, with online gambling certainly being among the most popular ones.

Popular altcoins and their scope of use

Nowadays, when speaking of cryptocurrencies there is no way to avoid mentioning Ethereum, or Ether, a digital token that is the lifeblood of the blockchain operating system of the same name. Thanks to this platform, users can create smart contracts, a protocol that provides means for carrying out credible transactions without any intermediaries. Ether is probably the most popular altcoin today because it is widely accepted as a mean for investment in blockchain startups. Litecoin is often referred to as the ‘younger brother’ of Bitcoin because it is basically a slightly improved version of BTC. Nevertheless, it enjoys vast popularity because of its superior transaction confirmation mechanism known as the Litecoin Network.

Dash is also a reformed version of Bitcoin which uses several cryptographic algorithms and the system of master nodes to allow for almost instant transactions. Monero is based on the CryptoNote protocol that ensures the unparalleled level of anonymity along with the obfuscation, the act of making something incomprehensible, of all transactions thus making them impossible to trace. As you can see, these altcoins have different foundation and functionality, but all of them, as well as more than a dozen other cryptocurrencies, can be used for making bets on sports and playing in online casino at 1xBit, the most crypto-friendly gambling platform around.

1xBit happily accepts altcoins

If you are a crypto enthusiast who also likes to bet on sports or play in live online casinos, but just couldn’t seem to find the all-for-crypto platform that will cater to your needs, then look no further than 1xBit. Acting in compliance with the concept of total anonymity, 1xBit doesn’t gather any personal information from new users and allows them to play in a safe and confidential environment thanks to the one-click registration process. All deposits/withdrawals are carried out almost instantly and at a very low to no-fee basis. 1xBit broadens the scope of use of altcoins by providing a fully-fledged crypto-oriented gambling platform.

Article Produced By
Carolyn Coley

Carolyn Coley is a blockchain reporter. She joined Smartereum after graduating from UC Berkeley in 2018.

 

https://smartereum.com/53130/altcoin-cryptocurrency-market-is-expanding/

Deb Williams (hodlthrive)

Northern Irish Capital Belfast Introduces Local Digital Currency

Northern Irish Capital, Belfast Introduces Local Digital Currency

Deb Williams (hodlthrive)

Top 4 Ways to Cash out Crypto Profits in 2019

Top 4 Ways to Cash out Crypto Profits in 2019

                               

 

 Most people are interested in cryptocurrencies

as a way to make money. Whether it is an extra income, some minor profits, or a full income as a self-employed trader, the opportunities are nearly limitless. Cashing out crypto profits can often be somewhat more complicated. Several options are at one’s disposal in this regard, although there is no one solution which works for everyone.

Traditional Exchanges With KYC

Perhaps the most commonly used option to cash out crypto profits comes in the form of using traditional trading platforms. Not everyone is a fan of centralized exchanges, which is only normal. Dealing with order books and going through a KYC process is not necessarily synonymous with a hassle-free experience. Despite those potential drawbacks, trading platforms remain a valuable option to convert cryptocurrency into more mainstream currency. Several factors need to be taken into consideration in this regard. First of all, one needs to adhere to specific withdrawal limits. Depending on one’s account verification level, those limits can range anywhere from $2,000 a day to unlimited funds. Secondly, these companies adhere to strict KYC guidelines, which means they may disclose your transactions to interested governments. Avoiding the need to pay taxes on such transactions is ill-advised, albeit that remains one’s personal decision first and foremost.

OTC and Peer-to-peer Trading

Another commonly used option is to rely on OTC or peer-to-peer trading. In terms of cashing out crypto profits, it is a viable option. There will often be people willing to buy from OTC or P2P sellers at a fair price. Interested users need to ensure they do not overdo this process. Many governments target Bitcoin sellers who are, in their eyes, acting as an unlicensed money transmitter of some sorts. For those users dealing with small amounts of cryptocurrency, LocalBitcoins and consorts are always worth checking out. This platform is available in virtually all countries and allows users to sell Bitcoin for any type of payment method they prefer. Sellers can also determine their own rates to sell cryptocurrency, which always makes things a bit more exciting. Make sure to rely on platforms offering escrow protection of some sort, as that will allow for more secure transactions.

Debit Cards Supporting Cryptocurrencies

Over the past year and a half, most discussions pertaining to Bitcoin debit cards have calmed down. That doesn’t mean this business model is no longer viable. Especially for users looking to cash out crypto profits, a cryptocurrency debit card can be a viable tool. Users can withdraw local or foreign currency from nearly all ATMs around the world, although a small fee might be added for doing so. Similar to dealing with OTC and P2P trading, it is not something which should not be overdone. Cryptocurrency debit card providers also use bank accounts and keep logs of how their customers operate. Any user potentially funding a card with thousands of dollars and withdrawing funds every week will attract attention. That can lead to an official investigation in one’s home country if those earnings are not reported to the right authorities accordingly. 

Contact a Tax Attorney or Accountant

As odd as it may sound, one of the safer options to cash out crypto profits is to directly contact a tax accountant or attorney. These individuals can aid in ensuring the crypto earnings can be withdrawn and all tax requirements will be taken care of accordingly. Since it is their job to often deal with vast sums of money they may be able to offer some alternative solutions to maximize one’s profits while remaining compliant at all times.

Options like these might not be in most people’s top 5 by any means. Cryptocurrency is often seen as a solution to bypass traditional financial systems in any way. Choosing that option can often yield unexpected and unwelcome consequences. As such, talking to an expert is a solid option. Any information or advice can be obtained free of charge without further commitments.

Article Produced By
JP Buntinx

JP Buntinx is a FinTech and Bitcoin enthusiast living in Belgium. His passion for finance and technology made him one of the world's leading freelance Bitcoin writers.

https://nulltx.com/top-4-ways-to-cash-out-crypto-profits-in-2019/

Deb Williams (hodlthrive)

Zeux Partners With VeChain Supports Crypto Payments Via Apple Pay and Samsung Pay

Zeux Partners With VeChain, Supports Crypto Payments Via Apple Pay and Samsung Pay

            

The crypto payments app Zeux is rolling out support for VeChain (VET).

The app is designed to let users spend their crypto at retail stores that accept Apple Pay and Samsung Pay. The London-based company says it has launched in the UK and will be up and running in Europe later this year.

“VeChain has been a major player in developing its blockchain to make a difference in enabling enterprises and professional teams to leverage public blockchain. In particular, given the large VeChain community in Europe, the partnership will help us to reach our target European customer base”. Once crypto spenders activate their Apple Pay or Samsung Pay at a supported point-of-sale (POS) device, selecting their preferred cryptocurrency to complete the purchases, a merchant will then receive fiat. The cryptocurrency is instantly deducted from the spender’s Zeux digital payments wallet, with no charges for the conversion.

The fintech company says it’s aiming to create a digital banking solution that combines all banking activities on a single app to bridge the gap between traditional POS payment systems and the new era of crypto.The team at Zeux says the app will also integrate a built-in investment platform and a foreign exchange function. VeChain is just the latest addition to the crypto lineup on Zeux. The platform also supports Bitcoin, Ethereum, NEO, IOTA, Qtum and Bitcoin SV.

Article Produced By
THe Daily Hodl

https://dailyhodl.com/2019/05/12/zeux-partners-with-vechain-supports-crypto-payments-via-apple-pay-and-samsung-pay/

 

 

 

 

 

Deb Williams (hodlthrive)