Alleged Draft Of India’s Bitcoin Ban Leaked Online

Alleged Draft Of India’s Bitcoin Ban Leaked Online

                                   

The rumours of India proposing to ban cryptocurrency have been floating around

the space for a while now and they may have just been confirmed after the Indian blockchain lawyer Varun Sethi posted an alleged first draft of the proposed bill. The bill, called “Banning of Cryptocurrency and Regulation of Official Digital Currencies” proposes to ban or heavily restrict all cryptocurrency-related activity in the nation and a draft of the bill has apparently been leaked. 

Crypto Crosshairs

Whether this draft is real or not, it seems that India has crypto in its crosshairs for foreseeable future. According to a report from the Economic Times in April 2019 mentioned that the bill had already been examined by a committee of representatives from the Department of Economic Affairs, Central Board of Indirect Taxes and Central Board of Direct Taxes, as well as other regulatory entities. As reported by the recently revived CCN, “the committee held the view that there has already been an unnecessary delay in taking action against cryptocurrency. This bill if passed will make all crypto related activities including mining and trading illegal in the country, with offenders risking jail time of up to 10 years.”

A part of the report reads:

“No person shall mine, generate, hold sell deal in, issue, transfer, dispose of or use cryptocurrency in the territory of India.”

With already strict crypto regulations in place, this isn’t the first time that the government will be blamed for planning to rid crypto and digital assets completely. The only positive thing about the bill seems to be that the government is hoping to bring in its own stablecoin. The draft doesn’t ban the use of distributed ledger tech and blockchain either but only if it is used for educational purposes. If India does go ahead to ban cryptocurrencies it will be a big loss for the market. Unfortunately, there won’t be much that the community could do either. Hopefully, India’s government will turn down the bill but who knows what the future holds.

Article Produced By
Robert Johnson

Robert is a keen investor with a particular interest in cryptocurrencies. He has been involved in the industry for many years, and because of this, has gathered a lot of knowledge surrounding this area. He studied English at university level and has a passion for writing. He loves being able to combine his two mains interests on a daily basis.

https://cryptodaily.co.uk/2019/07/alleged-draft-of-indias-bitcoin-ban-leaked-online

Chris Corey

Crypto Exchange Huobi Burns 14 Million Native Tokens Citing ‘Improved Market Conditions’

Crypto Exchange Huobi Burns 14 Million Native Tokens, Citing 'Improved Market Conditions'

                                

Huobi, a leading Singapore-based cryptocurrency exchange,

recently conducted a quarterly burning event, which reduced the overall supply of the Huobi Token (HT), the trading platform’s native cryptoasset.

Significantly More Tokens Burned this Quarter Due to “Improved Market Conditions”

According to Huobi’s management, the digital asset exchange has removed 14,011,700 tokens from the total circulating supply of 310,318,300 Huobi Tokens. Notably, Huobi’s most recent burn event has destroyed tokens at a rate that is 116% higher than the previous quarter. Explaining how the company was able to afford burning considerably more tokens, Huobi’s representatives noted that crypto “market conditions” had improved and that the company’s revenue has increased as well.

Huobi Token’s Price May Stabilize After Burning Event

Huobi Token’s price may stabilize after the token burning event, as the process helps reduce inflation by effectively removing a considerable amount of the cryptocurrency’s supply from the digital asset market. After launching the Huobi Token in early 2018, Huobi’s management has been spending 20% of its revenue each quarter to buy back the tokens from the crypto market. Because its revenue is not consistent from quarter to quarter, the exchange operator does not destroy the same number of tokens during each (quarterly) burning event.

Eight Burning Events Conducted Since April

Due to a significant growth in sales and revenue in recent months, Huobi has been able to burn more tokens each quarter. In fact, the firm’s revenues directed toward its token burning event has increased by 232% quarter-over-quarter. Since mid-April 2019, the Huobi team has conducted eight different token burning events, and has destroyed a total of 21,356,800 HTs. Notably, this amount is considerably greater than the 6,474,800 HTs the exchange bought back during Q1 2019. Huobi’s repurchased tokens are deposited at an Ether (ETH) address that is visible (shared with) to everyone. The deposit address is referred to as the Huobi “Investor Protection Fund”, as it serves as the exchange’s reserve fund. Commenting on Huobi’s quarterly token burn process, Leon Li, the Founder and CEO of

Huobi Group remarked:

There are two big trends reflecting the size of this quarter’s buyback. The first is a rapidly strengthening market for digital assets and the other is the increasing popularity of our entire product line.

Huobi’s management also revealed that many new investors had joined Huobi Prime (the exchange’s token launch program) and Huobi FastTrack . Moreover, Huobi’s derivatives markets (DM) trading desk has recorded $504 billion in trading volume during the spring (March, April, May 2019).

“Last Time Destroying Tokens Using Traditional Buyback Method”

In the coming months, updates will be made to Huobi’s Finance Chain, a public, decentralized blockchain for conducting peer-to-peer (P2P) monetary transactions. In another blog post, the Huobi team noted that the most recent token burn event “will be the last time HT tokens will be destroyed using the traditional buyback method.” Huobi’s management is also planning to use the funds generated in the HT Tiered Fee deduction program, which will allow the company to directly burn the tokens.

Huobi May Conduct Monthly or Daily Token Burns

Approximately two-thirds of Huobi’s holdings (as a company) may also be used in future token burn events, and the remaining one-third of HTs may come from the open market. Currently, Huobi is considering the possibility of performing monthly of even daily token burns – instead of quarterly. The current supply of the ERC-20 compliant Huobi Token stands at 478,643,200. The HTs may serve as deposits for customers of the exchange’s over-the-counter (OTC) desk, or to obtain access to “premium coins” via Huobi Prime. Huobi exchange users may also cast votes using the HT tokens.

Article Produced By
Omar Faridi

I enjoy writing about all topics related to Bitcoin, Blockchain, and other cryptocurrencies. The topics that interest me most are crypto regulations, quantum resistant blockchains, Ethereum and Bitcoin Core development, and scams orchestrated under the guise of ICOs. My academic background includes an undergraduate degree in Computer Science, with a minor in Mathematics from the University of Nevada, Las Vegas. I also possess a Master of Science degree in Psychology from the University of Phoenix. While completing my coursework, I engaged in independent study programs focused on public-key cryptography and quantum computing. My professional work experience includes working as an application developer for the University of Houston, data storage specialist at Dell EMC, and as Teacher of Mathematics in the United States, China, Kuwait, and Pakistan.

https://www.cryptoglobe.com/latest/2019/07/crypto-exchange-huobi-burns-14-million-native-tokens-citing-improved-market-conditions/

Chris Corey

Bakkt’s Futures Testing Will not Impact the Bitcoin Price

Bakkt’s Futures Testing Will not Impact the Bitcoin Price

                               

 

Bitcoin futures contracts have made somewhat of an impact

on the world’s leading cryptocurrency’s price. That in itself is always interesting to keep an eye on, although it seems the mainstream couldn’t care much less about these trading vehicles. Bakkt is scheduled to “launch’ its own Bitcoin futures in the coming weeks, albeit it is important to acknowledge what is going exactly. 

A Beta Launch Happens on July 22

Contrary to what some people may assume, Bakkt will not roll out its actual Bitcoin futures to the masses in just over a week from today. Instead, the company will begin testing this product and the underlying infrastructure to see how things will evolve. This phase is referred to as “user acceptance testing”, which means not everyone will be able to access this testing environment. It is a “glorified” beta test of the products, and should be treated as such. 

Price Impact Will be Minimal

Although the beta testing of this Bitcoin futures trading vehicle could spark a massive BTC bull run, it seems incredibly unlikely that will be the case. The general consensus among traders and enthusiasts is how the beta launch – as well as the full launch, whenever it happens – is already factored into the current Bitcoin price. That is something to keep in mind at all times, primarily because the value of BTC has fluctuated quite a bit in recent weeks. Rest assured it has nothing to do with Bakkt or its upcoming user acceptance testing. 

When Will the Actual Launch Happen?

There is a lot of conflicting information in that regard, albeit it is safe to say no one knows for sure at this time. More specifically, Bakkt initially expected to launch its Bitcoin futures in late 2018, yet that deadline was pushed back significantly. After all, this is why the user acceptance testing phase will only begin in July of 2019, which seemingly indicates the actual product launch is still weeks, if not months, away. 

Even if the futures products launches in full, it remains to be seen who will be able to access these vehicles in the years to come. As regulators are closing down on any company providing exposure to cryptocurrencies, digital currencies, and tokenized assets, it will be interesting to see how Bakkt handles this particular aspect. By the time its futures launch in full, the US may have become an unsuitable area for Bitcoin products in general. based on how regulators are treating cryptocurrency right now, such a development seems more and more plausible every day. 

Can Bitcoin Futures Products Succeed?

Based on all of the Bitcoin futures products being released in the past two years, it seems very few people actively care about these products at this stage. While that negative attitude wasn’t entirely surprising during the crypto winter of 2018 and early 2019, it seems very little has changed ever since BTC surpassed $10,000 again in Q2 of 2019. 

As such, one has to wonder what the response to Bakkt’s products will be. As the company will also support the ICE Futures US launch of margined futures for Bitcoin, there is a chance things could get a lot more interesting once everything has gone live accordingly. At the same time, one also has to keep in mind these products might not make any meaningful impact either. An interesting future lies ahead either way, albeit it might not necessarily benefit Bakkt in the long run.

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/bakkts-futures-testing-will-not-impact-the-bitcoin-price/

Chris Corey

SimpleFX adds Monero and Ethereum Classic accounts

SimpleFX adds Monero and Ethereum Classic accounts

                                  

The award-winning global mobile-friendly trading platform

now offers accounts in 22 different currencies (including seven cryptocurrencies). SimpleFX has just released Monero and Ethereum Classic transfers. Just like other crypto accounts, they are available free of charge. Now SimpleFX traders can deposit and withdraw money using seven different cryptocurrencies: Bitcoin, Bitcoin Cash, Dash, Ethereum, Ethereum Classic, Litecoin, and Monero.

Broker for the new generation of traders

SimpleFX was one of the first CFD brokers that offered cryptocurrency accounts and has been supporting cryptocurrency projects for years. SimpleFX

wrote in a statement,

“Our mission is to make the most of the cryptocurrency and blockchain opportunities. We believe in the community and want to give the users a broad choice of transfer services. This is the cryptocurrency spirit we have always believed in.”

The fast-growing broker with over 200,000 active traders worldwide aims at being the go-to app for the new generation of mobile-first traders. SimpleFX launched a completely new version of the WebTrader application and since then has introduced several groundbreaking features focusing on social trading, financial education and services for their affiliate marketing partners.

Profitable trades for everyone

SimpleFX demo accounts are fully functional and the live accounts can be funded with any amount as there are no minimum deposits. Thanks to easy and secure payments that can be performed in both fiat money and cryptocurrencies, everyone can access and benefit from trading with low spreads. SimpleFX offers an attractive 1:500 leverage, which opens profit opportunities to the less affluent traders. At the same time, easy stop-loss feature and negative balance protection make SimpleFX a secure tool for both experienced and novice traders.

The Best Trading App 2019

SimpleFX WebTrader won the competition for the best trading app during the Finance World Expo Summit 2019 that took place in Switzerland. The experts appreciated SimpleFX WebTrader for:

  • Great usability on mobile devices
  • Remarkable speed and reliability
  • Responding to the user needs with new features
  • The strong and growing community of users.

SimpleFX growth accelerated at the end of 2018 despite the downtrend in cryptocurrency markets thanks to the enthusiastic reception of the SimpleFX WebTrader 2.0 and the partnership with Unilink.io affiliate marketing software.

Article Produced By
Investinblockchain
Editorial Staff

https://www.investinblockchain.com/simplefx-adds-monero-and-ethereum-classic-accounts/

Chris Corey

Flamin’ Hot: Binance Just Burned 24 Million Worth of BNB Coins

Flamin’ Hot: Binance Just Burned $24 Million Worth of BNB Coins

The leadership at Binance continues to strive toward bringing value to their users. This week, the Malta-based cryptocurrency exchange completed its eighth quarterly token burn, wherein nearly 809,000 BNB tokens were burned, that sum being worth approximately $24 million USD at the time of the burn.

                                

The company said this latest token burn was the first toward its new goal of burning 100 million BNB tokens:

“Starting with this burn, Binance will relinquish the BNB tokens allocated to the Binance team and contribute this BNB towards our commitment to burning a total of 100 million BNB. The Binance team tokens equate to 40% of the total BNB supply (80,000,000 BNB, currently worth about US$2,400,000,000).”

The idea? To use deflationary pressure to make BNB tokens worth more in the long run — e.g. not unlike how Kyber Network Crystals (KNC) are burned after every Kyber Network transaction. The large token burn comes after the exchange just had its best two-month stretch in its fledgling history. From May to June 2019, Binance facilitated around $125 billion — the largest reported transaction volume the platform has had in any period to date. Whether the company can maintain such prolific volume as it phases out American users from Binance.com remains to be seen. But Binance US is coming, as well as new margin trading and futures services on Binance.com. In that context, the exchange brand has various ways it’s fighting to maintain its dominance in the cryptoeconomy.

Binance Just Unveiled Its New Margin Trading Service

This week, Binance 2.0 arrived. As part of that arrival, a new Margin Trading service was unfurled alongside the platform’s main exchange service. Both of these services have been underpinned by a new advanced trading engine that has been designed for “better order matching and press indexes for margin level calculations to enable lower liquidations,” the company said in a July 11th press release. As Binance chief operating officier and co-founder Changpeng Zhao explained

on the news:

“This is another step in providing an inclusive cryptocurrency trading platform catering to the needs of both advanced institutional traders and retail traders under the same roof. We are providing a new tool in the financial services and cryptocurrency markets to help amplify trading results of successful trades.”

With the new margin trading service activated, Binance users who have verified their identities will now be able to put up cryptocurrency collateral in a special wallet in order to make leveraged trades on the platform.

Binance: the One-Stop Crypto Shop

As part of the exchange’s bid to maintain its preeminent status in the cryptoeconomy, Binance announced earlier this month that it was also preparing to launch a cryptocurrency futures service, with futures being a mainstream financial instrument used to speculate on the prices of assets. Confirming the imminent status of a new futures interface, CEO Zhao confirmed at the Asia Blockchain Summit in Taiwan that cryptocurrency futures were all but ready to be greenlighted for

Binance.com:

“Binance will be launching a futures platform very soon. I don’t have the exact date yet. The simulation test version will be live in a few weeks.”

Will Binance Join the Libra Foundation?

Representatives of the Gemini cryptocurrency exchange may join the Libra Association, exchange founders Cameron and Tyler Winklevoss noted earlier this week. And there’s been chatter that a representative for the Ethereum community should join the fledgling body. This month, the company’s chief strategy officer Gin Chao commented that the exchange had explored joining the Libra Association, though the matter was still up in the air. He said: “We’re definitely considering it. And so, we would like to throw our hat in the ring. Whether or not we will become one, we’ll see.”

Article Produced By
William M. Peaster

William M. Peaster is an editor and cryptocurrency writer. He is not a financial adviser. He enjoys covering both the promise and warts of the emerging cryptoeconomy.

https://blockonomi.com/binance-bnb-coin-burn/

Chris Corey

Coinbase Set to Launch Insurance Subsidiary With Aon

Coinbase Set to Launch Insurance Subsidiary With Aon

Coinbase Set to Launch Insurance Subsidiary With Aon
                                  Cryptocurrency exchange Coinbase is teaming up with insurance provider Aon to launch a captive insurance subsidiary that would solely serve the exchange.

Major cryptocurrency exchange Coinbase is preparing to launch

its own insurance company, according to a report from CoinDesk. The exchange is reportedly in advanced talks with insurance giant Aon to launch a captive insurance subsidiary, an insurance company solely owned by the firm being insured. Captives are maintained by firms to reduce insurance costs and improve access to reinsurance products.

A partnership such as this could be a solution to the reported shortage of insurance options that exists for cryptocurrency exchanges. Exchanges often have to self-insure by setting money aside for rainy days. Binance’s Secure Asset Fund for Users (SAFU) is a popular example. SAFU is an emergency insurance fund set aside by the exchange in case of potential loss of funds due to security breaches. Huobi and Kraken have emergency funds too. However, given the lack of proper structure and regulation, the companies can access the funds and use them for other purposes. This could go on to decrease available coverage in the long run. 

A captive insurance model like this could bring a stable, regulated and segregated infrastructure to the crypto insurance sub-industry. “If a firm is self-insuring, they’ve accepted responsibility for funding 100% of any loss,” Aon’s managing director, Jacqueline Quintal, said, per CoinDesk. “Captives, in comparison, provide a means through which firms can access insurance or reinsurance, while also pre-funding self-insured loss amounts in a more formal way than simply setting aside capital.”Earlier this year, Coinbase shared details of its $255 million insurance coverage for its hot wallets, which was purchased from Aon.

Article Produced By
Jimmy Aki

Jimmy has been following the development of blockchain for several years, and he is optimistic about its potential to democratize the financial system.

https://bitcoinmagazine.com/articles/coinbase-set-to-launch-insurance-subsidiary-with-aon

Chris Corey

Satoshi Awards to Honor Ethical Innovation on the Blockchain’

Satoshi Awards to Honor ‘Ethical Innovation on the Blockchain’

                            

Know anyone in the cryptocurrency world who could use some extra recognition?

Nominations will open soon for The Satoshi Awards. The awards will premiere at a ceremony in Acapulco, Mexico in February 2020 with the theme “Honoring Ethical Innovation on the Blockchain”.

Prominent Libertarians Head Nomination Committee

The Satoshi Awards organizers also added three well-known names from the libertarian space to their nominating committee: economist Jeffrey Tucker, CoinText founder and “Gigolos” star Vin Armani, and Bitcoin.com CEO Roger Ver. The committee will choose finalists in 12 categories (yet to be determined). They will assess entrants determined to have had “the greatest impact on the spreading acceptance and ethical use of cryptocurrencies to the benefit of humankind”.

Those interested can suggest category ideas by visiting the Satoshi Awards website. Other names on the committee include “Psychological Anarchist” Sterlin Lujan, Crypto Adventures founder Elsa Ramon, Coinbase senior engineer Josh Ellithorpe, and EOS’s Adrianna Mendez. The public will choose the eventual winners, via a tokenized voting system to guarantee transparency and fairness.

Satoshi Awards Open to All Blockchain Projects

Given the selection committee and the event’s timing — which coincides with the annual “Anarchapulco” conference for anarchists and libertarians — expect the selections to lean in that direction. However nominations will be open to anyone in the cryptocurrency space, and according to organizers will not favor any particular blockchain protocol. Satoshi Awards founder Steve Ellis, who will host the ceremony, is promising a memorable event:

“The show we have planned will set the standard for awards ceremonies in this space. I’m really excited about the direction we’re taking and so are our sponsors,” he said. Nomination committee members and organizers plan to meet once a week to discuss updates and decide the overall format for the awards event. They’re also looking for official sponsors and partners, and have announced DASH Thailand and DASH Now as the first two, based on those organizations’ drive to promote cryptocurrency in Asia.

Article Produced By
Jon Southurst

https://bitsonline.com/satoshi-awards-ethical-innovation/

Chris Corey

9 Best Cryptocurrency Exchanges for Trading Cryptocurrency

9 Best Cryptocurrency Exchanges for Trading Cryptocurrency

Cryptocurrency Exchanges for Trading

1. Binance

Binance is a rapidly growing exchange that concluded its ICO a few months back. Though it is based out of China, it doesn’t serve its native country but is open to almost all countries around the world. Since its ICO to till date, it has grown tremendously and is now placed in top 10 cryptocurrency exchanges in the world. It now has more than 140 altcoins listed on it which are only increasing as the days are passing. Binance being a centralized exchange has taken a unique take to expand its business and also provides a decent discount for day traders if they use BNB coins. BNB is Binance Coin which is the native currency of this platform.

Binance’s fee structure is also unique. To start with they have 0.1% standard trading fee which is already quite less than other peers. You can even reduce your fee further if you pay your trading fee in BNB according to the below-shown structure. To get started with Binance you need to register using your email ID and the process is quite simple & fast. Moreover, you get 1 QTUM coin as a kind gesture for registration which is limited to 10,000 QTUM coins on first come first basis. Binance is one of the few exchanges that offers mobile app for iOS and Android. Being using it for a while, I find it too easy to trade cryptocurrency while on the move. They also have aggressive plans like multi-lingual support, mobile apps for both iOS and Android users, Binance Angel Program,  and the Community Coin Per Month etc for more adoption of their platform.

2. BitMex

BitMex is high volume crypto exchange created by a talented team of economists, high-frequency traders and web developers for the crypto community. Here you will never find any issues regarding the liquidity of your cryptocurrencies. The primary currency traded on this exchange is Bitcoin and its future contracts. Apart from Bitcoin contracts, one can also play around with future contracts for altcoins such as Bitcoin Cash, Ethereum, Cardano, Litecoin, Ripple. The registration process on BitMex is quite simple where you just need to register through your email ID and their fee structure is also quite straightforward as shown below:

Coins Leverage Maker Fee Taker Fee Settlement Fee
Bitcoin (XBT) 100x -0.0250% 0.0750% 0.0500%
Bitcoin Cash (BCH) 20x -0.0500% 0.2500% 0.0000%
Cardano (ADA) 20x -0.05% 0.2500% 0.0000%
Ethereum (ETH) 50x -0.0500% 0.2500% 0.0000%
Litecoin (LTC) 33.33x -0.0500% 0.2500% 0.0000%
Ripple (XRP) 20x -0.0500% 0.2500% 0.0000%

3. KuCoin

KuCoin is another easy and hassle-free cryptocurrency exchange. KuCoin offers many popular and unique coin such as DragonChain, $KCS, and many others. Just like Binance, they offer a fully functional mobile app for Android and iOS. To get started with KuCoin, you can deposit any crypto of your choice ex: BTC and start trading. Personally, I have been using KuCoin since last quarter of 2017 and they are getting popular day by day.

4. Changelly

Changelly is one of the easiest ways to get ahold of various cryptocurrencies. Changelly has a proven track record of consistently good products being put out into the crypto-space. One of the best things about Changelly is that you don’t need to go through any lengthy verification or registration process. You just log in with your email ID (or any email ID) and start exchanging! Currently, it supports more than 35 cryptocurrencies along with fiat pairs such as USD/EUR. It is one of the best and easiest to use exchanges out there. If you want to know more, check out Harsh’s review on Changelly.

When you use Changelly to exchange cryptocurrency, Changelly bots connect in real time to some of the best and busiest cryptocurrency exchanges in the market to get you the best price. Usually, when using Changelly, a crypto-to-crypto exchange takes 5 to 30 minutes. They charge a commission fee of 0.5% on each trade, which I think is minimal in exchange for the volatility and risk that they bear on behalf of their users. In addition to the commission, a miner’s fee is also paid by the user and is deducted directly from their crypto balance.

But all you need in order to buy from Changelly is a VISA/MasterCard (credit/debit card) or any Changelly-supported cryptocurrency and a wallet where you want to receive your new coins. The procedure is very simple. Head toward CoinSutra’s Cryptocurrency Exchange – Changelly, and follow the steps given in this guide. Note: Though this guide shows how to buy Ripple in exchange for BTC, the process is exactly the same to buy any other Changelly-supported cryptocurrency. And if you want to buy cryptos using a VISA/MasterCard, then here is their official step-by-step guide on doing that. (Even though this guide is for buying BTC using a VISA/MasterCard, the process is the same as buying any other Changelly-supported cryptocurrency.)

5. Huobi Pro

Huobi Pro is an international cryptocurrency exchange that originated in China but now has moved across the world to serve a maximum number of investors. It is based out of Singapore and has been operating in this space successfully for the last five years. As we speak, it occupies the #3 spot on CoinMarketCap’s list of exchanges by volume and has 244 cryptocurrency pairs. Hence, needless to say, of this, you will never face liquidity problems on this exchange. They also have mobile apps for both Android and iOS for users who want to trade cryptos on the go. Their registration process is also pretty simple and straightforward, so go ahead and do the needful. Oh, and just so you know, the exchange fee is also pretty low. Have fun.

6. Bittrex

Bittrex is a US-based cryptocurrency exchange that provides you the option to trade more than 190 cryptocurrencies at a time. They are well-regulated and compliant with all of the current US rules, so crypto users need not worry about the safety of their funds. Bittrex handles one of the largest BTC trading volumes out of all the exchanges in the world. Here, the users (buyers/sellers) decide the rates in which they want to trade, and Bittrex charges them a small service fee for providing this platform (0.25%).

To get started with Bittrex, you need to register and log in through your email ID, but to withdraw funds, you need to do a KYC by submitting your ID documents and phone number, as well as enabling two-factor authentication for higher limits. But one good thing about Bittrex is the account verification happens quite fast.

Bittrex supports two types of accounts:

  • Basic Account – withdrawal funds worth up to 3 BTC/day.
  • Advanced Account – withdrawal funds worth up to 100 BTC/day.

Bittrex is a “crypto-only” exchange, meaning it doesn’t allow you to deposit fiat currencies such as USD, EUR, GBP, etc.

They provide access to advanced trading tools like candlestick charts and crosshairs, but the user interface is quite clean and intuitive, so newbies should have no problems.

You can visit Bittrex and open a Bittrex account by following this official step by step guide here.

 

7. Poloniex

Founded by Tristan D’Agosta, Poloniex has been operational since January 2014 and is undoubtedly one of the biggest cryptocurrency exchanges in the world. It is based out of the United States and offers +100 cryptocurrencies to its users to trade. When you talk about trade volumes, nothing beats Poloniex. In 2017, Poloniex had the highest volume for ETH because it supports an independent Ethereum market as well as a BTC market.

It is a crypto-only exchange, but you can start trading easily by depositing USDT (Tether dollars). Poloniex also has zoomable candlestick charts for 5-minutes, 15-minutes, 30-minutes, 2-hours, 4-hours, and 1-day, along with a stop-limit feature for advanced cryptocurrency traders. Poloniex charges a fee of 0.15% to 0.25% on all trades depending upon whether you are a maker or a taker. So if you are looking to trade a variety of altcoins, then you should give Poloniex a shot. To get started with Poloniex, follow this official guide. Remember: As soon as you sign up for Poloniex using your email, do make sure to enable two-factor authentication!

8. Bitfinex

Bitfinex is another one of the largest and most popular cryptocurrency exchanges out there. Based out of Hong Kong and operational since 2014, it gives its users the option to trade the following 13 cryptocurrencies in exchange for USD or BTC:

  • Bitcoin
  • Bcash
  • Dash
  • Ethereum
  • Zcash
  • Monero
  • Litecoin
  • Ethereum Classic
  • OmiseGO
  • EOS
  • IOTA
  • Santiment
  • Ripple

Update: They have added a lot more cryptos recently.

Unlike Bittrex and Poloniex, you can trade using USD (with a wire fee of at least $20). Also, users will need to pay a trade fee which varies from 0.1% to 0.8%. Also, whenever you withdrawal or deposit anything, you are charged a certain fee. On Bitfinex, if you are a pro-trader, you will find advanced trading tools such as limit orders, stop orders, trailing stop, fill or kill, TWAP, and others, along with different market charts. To get started on Bitfinex, you need to register, verify your ID, and authenticate yourself. It typically takes 15-20 business days after submitting valid ID proof before you’re accepted into the platform. And whenever you get bored with the web version or want to trade on-the-go, you can use Bitfinex’s Android and iOS mobile apps.

Using the above cryptocurrency exchanges will allow you to buy almost all of the cryptos you could ever want to buy. However, there are a few more cryptocurrency exchanges that you should have an account with, as there are a few coins that are only available there. It’s a good idea to have an account on most of these, which will save time when you discover a winning coin.

 

Some of those exchanges are:

  • Gate.io
  • Beaxy

I will update this post as I find other trustable and feature-rich cryptocurrency exchanges. For now, you can consider joining our Telegram channel to stay updated with all the latest info. I hope these insights help you in choosing the best cryptocurrency exchange for you to use.

But one word of caution:

  • Don’t use these exchanges as a wallet to HODL your cryptos.

If you are storing cryptocurrencies on these exchanges for a few hours or even a few days for the sake of trading, then it’s probably OK. Otherwise, this is a bad practice. Large-scale hacks like Mt. Gox can happen at any time. I would strongly recommend you to use the Ledger Nano S or a wallet like Exodus, where you can store a lot of different cryptos and control your private keys. So now it’s your turn to tell me: Which one of these exchanges do you like the best? Also, what’s another great exchange that I haven’t listed here? Let me hear your thoughts in the comments below!

Article Produced By
Harsh Agrawal

An award-winning blogger with a track record of 10+ years. An international speaker and author who loves blockchain and crypto world.After discovering about decentralized finance and with his background of Information technology, he made his mission to help others learn and get started with it via CoinSutra.Join us via email and social channels to get the latest updates straight to your inbox.

https://coinsutra.com/best-cryptocurrency-exchanges/

Chris Corey

Nasa’s Apollo navigation computer can mine Bitcoin

Nasa’s Apollo navigation computer can mine Bitcoin

                                 

A 35 kg block with ferrite ring storage – nevertheless,

the hobbyist Ken Shirriff has been able to configure the restored Nasa AGC to mine Bitcoin. That cost a lot of effort and manual adjustment of the Sha-256 algorithm, said the developer. Computer historians got an Apollo Guidance Computer from NASA from the 60s up and running. On the collector’s item from a private range, the developer Ken Shirriff has also tried to operate on the system Bitcoin mining. The result: The AGC can calculate a Sha-256 hash value in ten seconds, writes the IT magazine Ars Technica. “The computer is so slow that it would take about a billion times the life of the universe to successfully dig a bitcoin block,” says Shirriff.

In addition to this extremely slow computing power, the hobbyist had problems with getting the Bitcoin algorithm to work at all. The AGC processes instructions in 15-bit format. Modern computers and mining asics use 32 or 64 bits. This is also true for Sha-256’s 32-bit operations used in bitcoin mining. That’s why he split the algorithm into three parts: a 4-bit part and two 14-bit parts, which the computer processes one at a time.

4 kbyte memory for Sha-256

Shirriff also had to write some memory instructions in subroutines themselves that use modern computers and also Sha-256 – such as Rotate and Shift. The memory itself is a problem that is about 4 Kbytes in size and stores information in magnetized ferrite rings. “I managed to squeeze everything into a memory bank using the same 16 words for multiple purposes,” says Shirriff. That had been associated with much debugging. The AGC was used by NASA for many Apollo missions as a navigation computer. He was modern for the time, as he was already equipped with integrated circuits and weighed only about 35 kg. In 2016 hobbyists could save a copy from scrapping and get it working again.

Article Produced By
BitCoinNews

https://thebitcoinnews.com/nasas-apollo-navigation-computer-can-mine-bitcoin/

Chris Corey

This Week In Crypto: Binance Bitcoin Futures Litecoin Sees Adoption Monero Bug

This Week In Crypto: Binance Bitcoin Futures, Litecoin Sees Adoption, Monero Bug

                               

 

This Week In Crypto is a weekly segment from the Live Coin Watch News team,

providing readers with a fun, succinct, and pertinent summary of the most important Bitcoin-related events in the past seven days. While crypto assets’ price action has evidently slowed across the board since last week’s crazy tumult, the underlying industry was still as crazy as ever. Over the past seven days, this budding ecosystem has seen its fair share of both positive and negative tidbits of news.

In the former category, Binance unveiled plans to launch futures, Litecoin may large steps forward in adoption, and Ethereum moved one step closer to commencing its long-awaited “Serenity” upgrade. In the latter category, Monero disclosed a notable bug, the United Kingdom’s leading financial regulator has begun to renew its crypto crackdown, Nouriel “Dr. Doom” Roubini slammed the cryptocurrency industry once again, and the use of Bitcoin on dark web forums was revealed to be rising.

This Week in Crypto

  • Ethereum 2.0 (Serenity) Sees First Spec Freeze, Upgrade On Its Way: Announced by Justin Drake, an Ethereum Foundation researcher, the first code specification freeze for Ethereum’s 2.0 (Serenity) upgrade recently occurred. “This release marks the end-of-June phase 0 spec freeze, v0.8 is to serve as a stable target as implementers work toward multi-client testnets in addition to on-going efforts in formal verification, fuzzing, and audits”, Drake explained. For those unaware, Phase Zero will be the first live activation of proof of stake on Ethereum. Many analysts believe that the transition from mining to staking will allow for the blockchain to regain hegemony of the smart contracting and decentralized application sphere, which has been partially consumed by EOS, Tron, and up-and-comers like Cosmos and Tezos.
  • U.K. Financial Authority Looks to Crack Down on Crypto Derivatives, BitMEX Included: The United Kingdom’s leading financial regulator, the FCA, has just revealed plans to impose a ban on derivatives relating to cryptocurrencies. If put in place, British investors would not be able to use a platform like BitMEX, which is home to the infamous original 100x Bitcoin leverage contract, which some have likened to pure gambling. It is important to note that users often bypass such “bans” with VPNs, which exchanges don’t seem to want to curb.
  • Binance Poised to Launch Bitcoin & Crypto Futures: In a recent keynote, Binance chief executive Changpeng “CZ” Zhao unveiled a surprising tidbit of news. Speaking to the crowd at the Asia Blockchain Summit in Taipei, the exchange head revealed that his firm would soon be launching cryptocurrency futures. A slide from Zhao’s presentation shows a preliminary version of the trading platform, which purportedly allows for up to 20 times leverage, and gives investors the ability to long and short key crypto assets: presumably Bitcoin, Ethereum, and Binance Coin at the minimum. This news comes hot on the heels of Binance’s intent to launch margin trading in the coming week or two.
  • Litecoin Added to Flexa, Adoption Well on Its Way: According to a recent blog post, Litecoin has now been formally added to Flexa, a payments ecosystem that allows merchants to accept cryptocurrencies and receive U.S. dollars. Seemingly explaining why it was making this addition, Flexa writes in the release that LTC “distinguishes itself” from other blockchain platforms with low transaction fees (often under $0.01), fast confirmation times (2.5 minutes), high volumes, “and an active community of avid supporters and payments enthusiasts.” As of the time of press, Litecoin can now be used to purchase goods via Flexa in over 39,250 stores (and counting) across the United States. Retail and restaurant chains that accept Flexa-backed payments, which are routed primarily through Gemini, include Baskin Robbins, Bed Bath & Beyond, GameStop, Nordstrom, Office Depot, Petco, and Whole Foods
  • Monero Bug That Would Have Put XMR Exchanges at Risk Unveiled: This week, a notable Monero (XMR) bug was unveiled by Hackerone, a developer group focused on discovering and patching code mishaps before hackers can exploit them. The vulnerability purportedly allowed for users to send “fake” XMR to an exchange, trade it for an “actual” cryptocurrency, then withdraw funds off the exchange.

Article Produced By
Nick Chong

Nick has been enamored with cryptocurrencies since finding out about them in 2013. He now reports crypto- and blockchain-related news for a number of leading outlets.

https://news.livecoinwatch.com/this-week-in-crypto-binance-bitcoin-futures-litecoin-sees-adoption-monero-bug/

Chris Corey