Circle Invest Adds Zcash Trading in Bid to Compete with Coinbase

Goldman Sachs-backed fintech startup, Circle has announced that it will be adding Zcash to its Circle Invest platform. The platform, released following beta testing in March, aims to compete with Coinbase, providing users with instant, commission-free crypto asset trading. It provides a simple service that lets users buy cryptocurrencies with ease. Circle Invest users can … Continued

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EOS Price Hit All Time High Amid Traders Confidence

EOS Price

The aggressive bull-run in EOS price has led it to hit new all-time high on Sunday. EOS coin has been climbing at an astounding pace over the last month, and the coin has been getting investor’s attention due to the number of new infrastructural development initiatives from its management.

It is among the most significant gainers since the start of April, and the coin has outperformed the top ten altcoins last week regarding price appreciation.

The coin has hit the all-time high of $23 on Sunday. It jumped more than 70% last week alone, ...

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UNICEF Creates Website for Charity Crypto Mining

Crypto Mining for Charity

The United Nations Children’s Fund (UNICEF) is starting to get involved in crypto mining. On Monday, the organization disclosed to the public that it created a website which means users can now engage in crypto mining for charity. There’s a catch, though. This mining will only be possible with help of supporters’ computer processing power.

UNICEF: Crypto Mining for Charity – How Will it Work? 

UNICEF has been trying to use innovative technology to raise awareness about humanitarian problems for years. Now, with the popularity of the crypto sector, the organization may have finally found a ...

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<h1>No ‘Macrocritical’ Risks From Cryptocurrency, Says IMF</h1>

no-macrocritical-risks-from-cryptocurrency-says-imf

The International Monetary Fund (IMF) isn’t terribly worried about the financial stability risks posed by cryptocurrencies. Nonetheless, the organization expressed limited concerns about leveraged trading of cryptocurrencies, the integration of crypto-assets into mainstream financial products, and the cross-border character of these digital assets.

Is the Bitcoin Cash Bull Run Ending? Market Pundits Say “No”

Bitcoin Cash Price

Bitcoin Cash (BCH) price continues to trade in a narrow range over the last couple of days after hitting its three months high last week. The broader market selloff and trader profit taking strategy are hindering the BCH bull run. Its price rose from $600 at the beginning of this month to $1,550 on April 24. The stunning bull run of more than 100% in the fourth largest coin created a strong selling opportunity for the short-term investors.

BCH remained range-bound last week, and it was up only 1% last week. The coin traded above $1,400 ...

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Iran Continues to Develop State Cryptocurrency Despite Central Bank Ban

Iran Continues to Develop State Cryptocurrency Despite Central Bank Ban

Iran has been developing its own cryptocurrency, a project which has yielded an experimental local crypto, despite the country’s central bank banning banks from dealing with cryptocurrencies. Iran’s Information and Communications Technology Minister has shed light on the project, commented on its alleged use to evade sanctions, and clarified the central bank’s action.

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

Iran’s Crypto Project

Iran Continues to Develop State Cryptocurrency Despite Central Bank Ban
Mohammad Javad Azari-Jahromi.

Iran’s Information and Communications Technology (ICT) Minister, Mohammad Javad Azari-Jahromi, revealed on Saturday that “Iran has developed an experimental local cryptocurrency,” Reuters reported him saying. “Last week, at a joint meeting to review the progress of the (local cryptocurrency) project, it was announced that the experimental model was ready.”

His statement follows the ban by the Central Bank of Iran (CBI), prohibiting banks and financial institutions from dealing with cryptocurrencies such as bitcoin. The minister clarified that the ban will not affect Iran’s cryptocurrency efforts. The news outlet conveyed:

Iran cryptocurrency project [is] on track despite cenbank ban.

Iran Continues to Develop State Cryptocurrency Despite Central Bank Ban
Iran’s central bank.

Azari-Jahromi is the country’s youngest minister and is known as an innovator. He tweeted in February that Post Bank of Iran, a subsidiary of his ministry that has 400 branches and 14,500 offices across the country, had been working with local experts on an experimental cryptocurrency model that would be presented to the country’s banks for review and approval.

The research department of the ICT Ministry and the monetary and financial research institute of the central bank have been collaborating in order to examine and create the legal framework for fintech, Eranico publication reported Azari-Jahromi explaining. He further noted, “To date the results of this cooperation is good and the pilot sample is being implemented,” adding that “The virtual national currency would be backed up.”

Significant Impact

The ICT Mister was quoted by the news outlet:

I believe that cryptocurrencies can have a significant impact on the country’s financial exchange model…However, first of all, research needs to be done in order to introduce this technology to the authorities.

Iran Continues to Develop State Cryptocurrency Despite Central Bank BanHe also commented on foreign media’s reporting of Iran developing national cryptocurrency to circumvent sanctions. Citing “Decentralization and lack of supervision of any financial regulatory institution on virtual currencies, including the characteristics of digital currency,” he said, “All cryptocurrencies have the ability to circumvent sanctions because they are not under the supervision of the US financial regulator.”

The central bank’s ban comes at a tenuous time for the Iranian economy. Between now and May 12, both the EU and the US are expected to decide on a new round of economic sanctions targeting Tehran. This could restore the harsh international controls on Iran that were lifted in the 2015 nuclear treaty between Iran and six major powers, including the US.

Central Bank’s Ban

Referring to the ban by the central bank, Azari-Jahromi said, “the ban on trading virtual currencies and bitcoin by the central bank as the financial and currency regulator of the country is due to preventing foreign currency from exiting in the current state of the country.”

IRNA news agency further quoted him emphasizing:

The central bank’s (ban) does not mean the prohibition or restriction of the use of the digital currency in domestic development.

What do you think of Iran developing its own crypto despite the ban on banks by the central bank? Let us know in the comments section below.


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The post Iran Continues to Develop State Cryptocurrency Despite Central Bank Ban appeared first on Bitcoin News.

UNICEF Wants to Use Your CPU to Mine Monero to Raise Funds for Children

UNICEF Australia, an organization that is dedicated to humanitarian aid for disadvantaged children, is shining the spotlight on a good cause while simultaneously seizing an opportunity for an added revenue stream through cryptocurrency mining. The agency has launched The HopePage, which is designed to use the CPUs of local website visitors to perform cryptocurrency mining, … Continued

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Bitcoin Price Up 50% in April – Analysts Expect Massive Uptrend in May

Bitcoin’s Bullrun of up to 50% in Bitcoin price (BTC) during April helped bulls to predict the massive uptrend in the following months:

Bitcoin price resumed the uptrend in April after posting the worst first quarter performance in the history. The largest coin was trading around the two months low at the beginning of the month and investors were losing their confidence in the cryptocurrency markets. Regulatory concerns, ads bans, and declining trading volume were dazzling trader’s confidence.

However, trader’s sentiments and cryptocurrency trading environment started changing dramatically in favor of bulls in mid-April. ...

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Circle Invest Adds Zcash (ZEC) to List of Offerings on App

Circle Invest

The Circle platform is going to be making some major waves in the crypto space over the next 3 weeks. It all started on Monday, April 30, when Circle disclosed that it is adding Zcash (ZEC) to its list of offerings for its investment app, dubbed the Circle Invest platform. 

Circle Adds Zcash to Circle Invest

On Monday, Circle announced in a blog post that it will be adding Zcash (ZEC), a cryptocurrency that is focused primarily on privacy, to its investment app. The Circle Invest app was expanded last month – it is now offered ...

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Cryptocurrency Market Remains Robust Despite Warren Buffett Criticism

Cryptocurrency markets are still favoring the bulls stance despite Warren Buffett’s lack of confidence and criticism on the ever-emerging digital currency market. Bitcoin price (BTC) rose to the $9500 level on Sunday. Several altcoins are also reaching new highs this year. Indeed, EOS – the fifth largest coin, has attained its all-time high on Sunday trading.

The cryptocurrency markets are making small sideways movements after posting modest losses in early Monday trading. TRON (TRON) is among the most significant gainers while Bitcoin, Ethereum (ETH) and Ripple (XRP) are trading in a narrow range.

...

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US Central Bank Explains how Bitcoin is Like ‘Regular Currency’

Christine Smith, a content strategist with the Federal Reserve Bank of St. Louis, suggests bitcoin is less “exotic” and more boring than people may think. Bitcoin’s two use cases are as a store of value and a currency, the latter of which Smith uses to argue a trio of reasons why the leading digital currency

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Warren Buffett on Bitcoin (BTC): Bitcoin is a Gamble

Warren Buffett on Bitcoin

Warren Buffett on Bitcoin (BTC) Now

Warren Buffett has never shown himself to be a fan of Bitcoin and other cryptocurrencies. In an interview with Yahoo Finance, Buffett still isn’t jumping on the crypto train.

Buffett told Yahoo Finance that he doesn’t see Bitcoin as an investment. Instead, he believes it’s a gamble. He continued to explain that there isn’t anything wrong with that, per say, but that it’s important not to treat Bitcoin and other cryptocurrencies as anything more than a game. You can’t expect it to behave like an investment, because it isn’t an ...

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Hungarian and Peruvian Localbitcoins Markets Post Record Volume

Hungarian and Peruvian Localbitcoins Markets Post Record Volume

The Localbitcoins markets of several nations have produced significant spikes in recent weeks, with the peer-to-peer (P2P) markets of Hungary, Peru, and Venezuela establishing new all-time highs for volume when measuring in trade in fiat currency.

Also Read: Bitcoin in Brief Monday: Outage Downs Telegram, Bitcoin Shines on a Bank

P2P Markets of Latin America Surge

The P2P trading volume of numerous South American markets have shown considerable strength in recent weeks, with many markets producing among the strongest weeks of trading in recent history when measuring volume in fiat currency.

Peru set a new record for weekly volume for the second week in a row when measuring against fiat currency, with 1,944,396 PEN (nearly $600,000 USD) worth of bitcoin exchanging hands this past week – an approximately 14% increase from last week’s record of 1,705,992 PEN.

Hungarian and Peruvian Localbitcoins Markets Post Record Volume

When measuring volume in BTC, the last two weeks both posted approximately 71 bitcoins – the second largest number of BTC traded in a single week for Peru’s P2P markets since the 80 bitcoins traded during the week of the 19th of December 2017.

Hungarian and Peruvian Localbitcoins Markets Post Record Volume

The Brazilian Localbitcoins markets produced a spike in volume during the week of the 14th of April, with trade volume reaching 3,158,258 BRL (approximately $905,000 USD), comprising the third largest weekly volume candle in the history of Brazilian P2P trade.

Hungarian and Peruvian Localbitcoins Markets Post Record Volume

Argentinian and Venezuelan Peer-to-Peer Markets Rally

Argentina’s P2P markets also rallied during the week of the 14th of April, spiking to comprise the fourth most traded week in the history of Argentinian Localbitcoins trade. The week of the 14th posted a trading volume of 4,506,932 (almost $220,000 USD).

Hungarian and Peruvian Localbitcoins Markets Post Record Volume

When measuring volume in bitcoins, the 29 BTC traded during the 14th comprises the largest number of bitcoin traded in a single week since August 2017; however, it is dwarfed by the more than 150 BTC regularly traded on a weekly basis via Argentina’s P2P markets during 2015.

Hungarian and Peruvian Localbitcoins Markets Post Record Volume

Venezuela’s Localbitcoins markets have produced a new record for weekly trade volume when measuring trade in Venezuelan Bolivars for the seventh time in eight weeks.

Hungarian and Peruvian Localbitcoins Markets Post Record Volume

When measuring trade in bitcoins, volume has actually declined for two weeks in a row – despite both weeks producing new all-time volume highs when measuring in Bolivars.

Hungarian and Peruvian Localbitcoins Markets Post Record Volume

Hungarian Localbitcoins Trade Produces New Volume Record

During the week of the 14th of April, Hungary’s P2P markets produced record trading volume of 7,473,600 HUF (approximately $28,800 USD). Despite comprising a record when measured in fiat currency, only 4 bitcoins changed hands during the week of the 14th of April – a relatively small weekly volume when compared to Hungarian P2P trade in 2015. Still, the 4 BTC was the most bitcoin traded in a single week since July 2017.

Hungarian and Peruvian Localbitcoins Markets Post Record Volume

Swedish trading on Localbitcoins also surged during the week of the 14th of April, posting 14,189,350 SEK (approximately $1,618,600 USD) worth of trade – the fourth largest volume candle posted in the history of Sweden’s P2P markets. When measuring trade in BTC, the 231 bitcoins that exchanged hands is the highest in a single week since November 2017, however, is dwarfed by the volume consistently produced by the Swedish bitcoin markets between 2015 and 2016.

Hungarian and Peruvian Localbitcoins Markets Post Record Volume

Canada’s P2P markets have continued to produce substantial trading volume – posting the third largest weekly volume candle of 7,784,463 CAD (almost $6,075,000 USD) this week. When measuring in BTC, this past week’s volume of 893 bitcoins is the third largest in history. The most recent four weeks of trade currently comprises the four largest weeks for Canadian Localbitcoins trading.

Hungarian and Peruvian Localbitcoins Markets Post Record Volume

Do you trade using the P2P markets? Discuss your trading preferences in the comments section below!


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William Mougayar to Launch Investment Firm to Fund Blockchain Projects

William Mougayar

The crypto markets may be getting a new investor. On Monday, William Mougayar made the announcement that he will be launching a brand new investment firm, named Blockchain Technology Ventures. The firm is looking to invest in virtual currencies and blockchain startups. 

William Mougayar to Launch an Investment Firm

If you’re a blockchain startup looking for an investor, this might be your opportunity. However, there is a catch. According to William Mougayar, unless the blockchain project or cryptocurrency demonstrates a potential for appreciation, the Blockchain Technology Ventures firm will not invest. Furthermore, Mougayar stated Monday that ...

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