PR: Bithumb to Refund New Users up to 70% on Fees

Bithumb to Refund New Users up to 70% on Fees

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.

Bithumb to refund new users up to 70% on fees
New users outside Korea to be reimbursed for transaction fees incurred when depositing cryptocurrency on the exchange within the event period.

For a limited time, Bithumb, a global cryptocurrency exchange, is offering a refund of up to 70% on transaction fees as an expression of appreciation for new users’ support.

Bithumb will run a “Cryptocurrency Deposit Event” between August 16 and September 16, 2018 in Korean Standard Time (GMT+9), targeting traders outside Korea who are newly signing up. During this period, new foreign users who deposit cryptocurrency on Bithumb will be compensated for the transaction fees incurred with cryptocurrency, in proportion to the aggregate deposit value during the even period, calculated at the market price at the time the deposit is made on the exchange. All listed trading cryptocurrencies on Bithumb are eligible for deposits.

The payback rates are: 10% between KRW 10,000 and KRW 99,999; 20% between KRW 100,000 and KRW 999,999; 40% between KRW 1,000,000 and KRW 11,999,999; 50% between KRW 12,000,000 and KRW 39,999,999; 60% between KRW 40,000,000 and KRW 99,999,999; and 70% for KRW 100,000,000 or more. The transaction fee reimbursements will be made in cryptocurrency over six days, from October 1 through 5, 2018 in Korean Standard Time (GMT+9).

This special offer is only for new users who are not Korean national. Korean nationals and new users signing up through Korean network-based cell phones are ineligible.

According to a Bithumb representative, “The lower tax rates and exchange fees along with convenience in transactions are sparking a growing global interest in cryptocurrencies such as Bitcoin and Ethereum.” The official added, “We much appreciate our foreign global users for their trust in and transactions on Bithumb. We are happy to have a chance to repay them for their support and loyalty.”

For overseas customer convenience, Bithumb provides a call center service in English, Japanese and Chinese, further strengthening its status as a global leading cryptocurrency exchange.

Contact Email Address:
Ryan.k@creativeclicks.com

Supporting Link:
https://www.bithumb.com/merchant/gwbanner?bsid=PBP08_WW&utm_source=btccom&utm_medium=pr&utm_campaign=ww

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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Dead Man’s Switch App Wins Tokyo Hackathon for Bitcoin Cash Grand Prize

Dead Man’s Switch App Wins Tokyo Hackathon for Bitcoin Cash Grand Prize

Thirty four tech-savvy engineers, enthusiasts and students gathered at Hash Hub, the co-working space in the Tokyo University neighborhood to participate in a hackathon organized and sponsored by Crypto Age, Yenom and Bitcoin.com last weekend.

Also read: Yenom Launches Bitcoin Cash Library Implemented in Apple’s iOS-language Swift

“Clock Wallet” Team Wins 1 BCH

Prizes in BCH have been awarded to the 3 best teams able to deliver a working mobile app prototype in two days. The hashtag for the event read #ビットコインしろ in Japanese, roughly meaning “let’s Bitcoin”, except it’s imperative, so rather “Do Bitcoin!” an organizer explained.

Dead Man’s Switch App Wins Tokyo Hackathon for Bitcoin Cash Grand Prize
Winners, Tokyo Hackathon 2018

“Clock Wallet” was the winning team’s project that facilitates the “inheritance of cryptocurrencies” by allowing users to set time-locked transactions that become effective if the users doesn’t log-in to his/her wallet after a set period.

Akifumi Fujita, 23, from Yenom told news.Bitcoin.com that the event took place two entire days, from August 18 to 19th, and that some participants came from as far as Osaka in southern Japan and also from Iwate, up north. “It was great because the goal for us organizing this hackathon was to give a chance to as many people in Japan to gather and develop apps for Bitcoin, and I’m happy to say we did it, many people said the event allowed them to learn new stuff on Bitcoin apps, and that they are even more excited to keep working on new ideas,” Fujita said. “We had highly motivated participants, 10 of them stayed over night at HashHub co-working space from Saturday to Sunday, taking short naps on 2 couches and a ‘bed’ which we had prepared for the occasion, or some even just slept on their desks,” he said. About half of the participants were Japanese IT students, most of them in their 20s, the rest were professional developers in their mid-30s or 40s, but some said they develop Bitcoin apps as a hobby, he added. There were reportedly 32 Japanese participants and 2 Foreigners.

Let’s Bitcoin!

Dead Man’s Switch App Wins Tokyo Hackathon for Bitcoin Cash Grand Prize

Gerald Fabrot and Paul Bergamo, (jointly representing one seat) from Bitcoin.com’s business and web development teams, Mr. Jo Miyamoto from Campfire, and Mr. Shigeyuki Azuchi, co-author of a Japanese book on Blockchain programming, were the judges who chose the winning team based on 3 main criteria. The app had to provide a meaningful use of bitcoin, it had to use technology and finally, the judges asked themselves if they would want to use it personally.

Initially Yenom team and the co-organizers expected 3 or 4 teams to compete. This weekend, 34 participants divided into 11 teams of 3 to 4 developers gathered at the hackathon. Team G, represented by Takahiro Hirata, Kawa, Shiho Takeuchi and Shoichi Yamazaki, won the first price of 1 BCH for their “dead man’s switch” BCH app that executes a transaction if the human operator stops being active. With their app, users can set time-locked transactions that become effective if they don’t log-in to their wallet after a set period.

Dead Man’s Switch App Wins Tokyo Hackathon for Bitcoin Cash Grand Prize

“With traditional banks when someone dies, it’s extremely complicated for the remaining family to easily access the dead persons’ assets,” Shiho Takeuchi, 25, who was one of the only two female participants at the hackathon, told news.Bitcoin.com. “It works like this, every month, you log-in and confirm that you’re still alive, and if you die or if you’re inactive for a certain period of time, your funds can be transferred to someone you have preselected beforehand. You set the trigger period, it can be anytime, like 6 months or 10 years, you can just choose,” Shiho Takeuchi explained, “you see, if I die and cannot access my wallet, then after the time is expired, the funds can be transferred with the app we have come up with.”

“We Need More Apps That solve Real-World Use Cases”

“If a user stops accessing his phone for ‘x’ amount of months or years,” Gerald Fabrot, one of the judges said, “the app aims at releasing the funds to a specific person. Team D’s idea is not entirely new, yet it has never been implemented, and people will increasingly need to deal with the inevitable issues of death/impairment and transmission of assets,” he said.  “We need more projects implementing functionalities that solve real-world use cases. I would use it. The use of time-lock is simple but elegant, and while time-lock transactions need to be re-created several times a year, the predictably low transaction fees of BCH makes it possible to implement for, perhaps, 10 JPY (0.09$) a year,” he added.

The winner team won 1 BCH from Bitcoin.com for their creative work, the second team won 0.5 BCH for putting together a voting system (pageants, etc,) that allows users to write a message to whomever they support as OP_Return in the Blockchain. The third team won 0.25 BCH for making Atomic swaps between lightning network and BCH, Gerald Fabrot said.

What do you think of this team’s mobile app? Let us know in the comments section below.


Images courtesy of Shutterstock, Yenom and Bitcoin.com.


Need to calculate your bitcoin holdings? Check our tools section.

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Ripple Confirms xRapid Liftoff

Ripple News

xRapid, Ripple’s XRP-powered platform, is almost ready to be launched to the public.

xRapid Ready for Liftoff

Cory Johnson, Ripple’s Chief Marketing Strategist, commented on Ripple’s latest announcement stating that the company’s xRapid pilots have gone as planned.

Johnson said:

“We’ve seen several successful xRapid pilots already, and as we move the product from beta to production later this year, these exchange partners will allow us to provide financial institutions with the comfort and assurance that their payments will move seamlessly between different currencies.”

Last week, Ripple announced that it ...

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Why Experts Recommend Investing In Bitcoin

BTC Profit System

Over the past few years, more and more consumers have opted to invest in Bitcoin and other digital currencies. Some analysts believe that Bitcoin is nothing more than a sham. They suggest that it should be avoided by serious investors. Others believe that Bitcoin could pave the way for a valuable and profitable future. The truth of the matter is that Bitcoin offers a wealth of benefits. Within this article, consumers will learn a great deal more about the reasons experts recommend investing in Bitcoin at this point in time.

Bottoming Out

First and foremost, consumers ...

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Хакер, обвиняемый федеральными властями, терпит неудачу при использовании альткоинов для обеспечения своего залога

Мартин Маршич был арестован в начале этого года за якобы взламывание систем электронных игр Electronic Arts Inc. (EA) и кражу цифровых средств. В попы?

Crypto Industry Consortium Launches Self-Policing Program

Crypto Industry Consortium Launches Self-Policing Program

ECoinmerce, a DAO e-commerce platform, has announced the launch of the Crypto Community Watch program, in partnership with a consortium of crypto industry organizations including ICO Alert, GZH, Step VC and NewEconomies. The main purpose of the program is to create an anonymous tip line as well as a whistleblower reward mechanism to deal with the problem of cryptocurrency scammers and hackers.

The program aims to create a community within the crypto world that shares information about crypto bad actors while laying the groundwork for efficient punishment by law enforcement. The program hopes to create a sufficient deterrent against crypto crime, while rewarding those who come up with beneficial information toward this goal.

Speaking with Bitcoin Magazine on the importance of the program, ECoinmerce COO Rex Chen said he was optimistic about the prospects of the program but believes getting “widespread buy-in and adoption” is critical.

“The crypto scene revolves around collaboration, open source, transparency, etc. and this is an extension of that. We all complain about ‘FUD’ and warn each other about the dangers in the space (ex. don’t hold your funds on exchanges for a long time), but very little is actually being done about the dangers of scams, hacks, etc. If people can collaborate on self-policing the same way they collaborate on Github while coding, the industry will get much better as a whole regarding outing scammers, hackers, etc.”

The provision of a 100 BTC reward pool has been made within a third-party escrow wallet. The group states that all tips on fraudulent or illegal activity are completely anonymous and can be submitted via a Google Document, with only a bitcoin wallet address and no identifying information requested. If the information provided leads to a successful prosecution, the whistleblower receives a bitcoin reward in their wallet.

Steps will be taken to ensure the mechanisms used for reporting and investigation are not abused. Chen says rewards won't automatically be given to whistleblowers who simply provide information. Once tips are submitted, they will be "investigated by multiple members of the Crypto Community Watch program" for credibility.

Furthermore, Chen emphasizes that “all reported companies or individuals are innocent until proven guilty.”

The program is intended to support law enforcement officials who have the power to bring legal action against bad actors in the crypto space. Through a Github-style collaborative effort, it is hoped that the industry will get better at outing scammers, hackers and other undesirable elements.

“Most law enforcement agencies have their own tip lines and email addresses,” says Chen. “What they lack is incentive. Whistleblowers put themselves in harm’s way — financially (if they’re involved in the fraudulent project), socially and, in the worst cases, physically. So, as a community, we need to reward this type of behavior with something more than a pat on the back.”

For transparency, all anonymous tips are publicly available on the program’s website.

This article originally appeared on Bitcoin Magazine.

England’s Biggest Football Clubs Ink eToro Sponsorship Deals in Bitcoin

Global online investment platform eToro, which notably offers cryptocurrency trading, has inked partnerships with seven major Premier League football clubs – all paid for in bitcoin. Major clubs playing in the world’s most-televised football league – watched by billions – could soon be using bitcoin to buy players from the global transfer market after opening … Continued

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Coinberry Traders Keep Control of Keys With BRD Crypto Wallet Integration

Coinberry Traders Keep Control of Keys With BRD Crypto Wallet Integration

Cryptocurrency trading service Coinberry has partnered with BRD, a secure bitcoin wallet service, in a deal that promises to bring BRD's Canadian users onto Coinberry's no-fee trading platform. The deal was announced on Monday, August 20, 2018, at the Blockchain Futurist Conference in Toronto, Ontario.

Toronto-based Coinberry is the first federally registered, commission-free trading platform for crypto assets in Canada, creating value for users using proprietary algorithms to source desirable crypto asset prices from trusted exchanges. BRD (formerly known as Bread Wallet), for its part, operates from its headquarters in Switzerland, providing crypto wallet services for more than $8 billion worth of assets to over 1.2 million customers in more than 150 countries around the world.

Working together under the new partnership, the plan is to integrate Coinberry's fee-free platform with BRD's non-custodial wallet in a deal that promises to have a positive impact on the Canadian crypto industry. With this alliance, BRD has secured a reliable partner that would enable faster payments (on-ramp) and remittances (off-ramp) into fiat.

In an interview with Bitcoin Magazine, BRD Chief Product Officer James MacWhyte said:

“They [Coinberry] are the only solution that allows users to get bitcoin using Canadian dollars in Canada. We actually don't have a way to do that right now. If I'm a BRD user, I don't have a way to get coins within the platform. We want to give choice and opportunity for our users to be empowered to hold their own cryptocurrency assets. [Coinberry] provides them an easy way to buy crypto, but we don't want to hold that crypto. That's where BRD comes in because that's what we provide — we're a cryptocurrency wallet.”

BRD's non-custodial wallet technology uses a decentralized framework to remove the centralized risk factor of a single “honeypot” that hackers can exploit to harvest data or pass it across to any centralized authority.

It allows users to quickly and seamlessly buy, deposit and withdraw bitcoin on the Coinberry platform, while keeping control of their keys at all times, which is a crucial consideration at a time when exchanges are proving to still be vulnerable to hacks.

Speaking with Bitcoin Magazine at the conference, Coinberry President Andrei Polikov explained the reasoning behind the partnership.

“BRD is both a pioneer and technology leader in cryptocurrency, and we are very excited to join forces. BRD’s wallet has all the functionality a crypto user could want, and we expect BRD’s community will enjoy taking advantage of Coinberry’s great rates on crypto. You should be in control, and you should be holding your assets.”

For his part, BRD Chief Strategy Officer Aaron Lasher praised the security and simplicity that the integration will create for users.

“Eventually our users will be able to just hit a toggle switch and move from their Coinberry account to their BRD wallet, not even needing to worry about private or public keys. That sort of integration is possible with trading partnerships like this.”

This article originally appeared on Bitcoin Magazine.

Should We Regulate Cryptocurrency Mining?

cryptocurrency mining regulation

Regulating cryptocurrencies has been a hot topic for years now. While some believe regulation would be hypocritical to an ethos whereby users govern their own network and money, is there anything to be said for regulating aspects of cryptocurrency…say a cryptocurrency mining regulation for example?

Cryptocurrency Mining Regulation – Here’s Why It’s Important

No matter how you look at it, cryptocurrency mining has become a mega business. No longer the lay-mans game, if you want to compete in mining for Bitcoin, you need serious rigs that run in the thousands.

The key to mining ...

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Bitcoin ABC Calls nChain’s Bluff, Vows to Proceed with Contentious Hard Fork Upgrade

Bitcoin Cash development team Bitcoin ABC isn’t backing down from its plan to release a contentious software upgrade in November, despite vows from other development teams and at least one major mining pool to continue using software that is incompatible with the new ABC client. On Monday, Bitcoin ABC released version 0.18.0 of its full … Continued

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