Markets Update: A Narrowing Range of Consolidation and Lower Trade Volumes

Markets Update: A Narrowing Range of Consolidation and Digital Asset Trade Volumes

Not a lot has changed since our last markets update four days ago as cryptocurrency markets continue moving sideways in a consolidated pattern. The top five digital assets have seen modest northbound gains this week, with increases between 1-5% over the last seven days. This Sunday, Oct. 21, the entire cryptocurrency economy of over 2,000 digital tokens is valued at $214.4 billion.

Also read: New Qart Wallet Gives Bitcoin Cash QR Codes a Personal Touch

Boring Market Action Often Leads to Something Unexpected

It’s been a lackluster week for cryptocurrency traders as not much has been happening, except for a few stablecoins having some interesting breakouts a few days ago. Since then most of the stablecoins, funnily enough, have seen less volatility and actually remained ‘stable.’ Top performing digital assets like bitcoin cash (BCH), ethereum (ETH), and bitcoin core (BTC) dropped a hair in value last week as traditional finance investments plummeted. However, these digital assets have regained the very small losses that took place on Oct. 19, and most of the top coins are up over the last seven days. This weekend, bulls seem to be strengthening their positions for another attempt to intensify a bearish-to-bullish trend change.

Markets Update: A Narrowing Range of Consolidation and Digital Asset Trade Volumes

Bitcoin Cash (BCH) Market Action

Bitcoin cash (BCH) is currently trading at $452 per coin this Sunday, with a market valuation of about $7.85 billion. Much like BTC and the rest of the top cryptocurrency markets, bitcoin cash trade volumes have been waning. Four days ago, BCH daily trade volumes were above $300 million, but have since dropped to $281.3 million. The top exchanges trading the most BCH today include Lbank, Hitbtc, Binance, Okex, and Bithumb. The dominant five trading pairs swapped for bitcoin cash this weekend are BTC (43%), USDT (29%), ETH (10.9%), KRW (8.6%), and USD (3.1%). The US dollar pair has dropped considerably against BCH, and the Korean won has jumped a good percentage upwards when it comes to global fiat volumes. Bitcoin cash this weekend is the sixth most traded cryptocurrency among the entire crypto-economy.

Markets Update: A Narrowing Range of Consolidation and Digital Asset Trade Volumes

BCH/USD Technical Indicators

Looking at charts over the last few days is similar to looking at the ocean’s horizon or a straight line. The four-hour and daily charts for BCH/USD show bulls look as though they are attempting to breakout upwards again in the near term. However, the two simple moving averages (SMA) have crossed hairs, indicating a trend change could be imminent. The 200 SMA is now just above the 100 SMA, showing the path towards the least resistance is likely the downside at the moment.

Markets Update: A Narrowing Range of Consolidation and Digital Asset Trade Volumes

Relative strength index (RSI) levels are meandering in the middle (-54.47), showing traders may be indecisive. The MACd shows a similar readout, indicating there could be room for improvement or a break toward the downside. Order books show bears will be stopped short in the $420 region and see another pitstop around $385 as well. BCH bulls need to press past the current vantage point and surpass a large sum of orders between the $460 through $500 range. After that, BCH bulls still need to defeat big walls above the $520 range and higher to keep momentum going strong.

Markets Update: A Narrowing Range of Consolidation and Digital Asset Trade Volumes

The Verdict: Positive News Hasn’t Erased Market Skepticism  

Overall there’s been a lot of news concerning institutional investment coming into the space and many crypto proponents are pleased to see these new entries. For instance, Fidelity Investments recently announced launching a trading desk, and Caspian’s multi-exchange trading platform came out of beta. Bitgo raised $57.5 million and Genesis Global Trading reports that institutional traders have borrowed $553 million worth of digital assets since March 2018. Meanwhile, Bitcoin Cash fans have seen an exponential increase in adoption and development over the last seven days. The outlook is surely positive for the future of cryptocurrencies, but markets don’t seem to be reflecting the optimism. The verdict this week is still skeptical as far as short-term market prices are concerned. This is due to weak cryptocurrency market volumes, a narrowing range of consolidation, and the previous and very interesting stablecoin fluctuations that occurred earlier this week.

Where do you see the price of bitcoin cash and other coins headed from here? Let us know in the comment section below.

Disclaimer: Price articles and markets updates are intended for informational purposes only and should not to be considered as trading advice. Neither Bitcoin.com nor the author is responsible for any losses or gains, as the ultimate decision to conduct a trade is made by the reader. Always remember that only those in possession of the private keys are in control of the “money.”


Images via Shutterstock, Trading View, and Satoshi Pulse.


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Bitcoin Intentions: Are We Aiming to Replace the Status Quo or Become Them?

Bitcoin Intentions: Are We Aiming to Replace the Status Quo or Become Them?

When the idea of a working digital currency like bitcoin was introduced, many of its early adopters disliked the current bureaucratic system, with a cartel of bankers pulling the world’s monetary strings. Over time, however, something weird has happened and the idea of permissionless innovation perverted into people literally asking nation states for permission, begging for ETFs, and creating a settlement layer for the ‘new 1%.’

Also Read: Bitcoin Ownership: Your Private Keys to Financial Sovereignty

Bitcoin Changed Everything — But Some People Want to Pervert the Original Goals

Over the last two decades, there’s been a growing faction of anarchists, libertarians, and freedom fighters aiming to change the world. They have become fed up with the sociopaths leading the world into never-ending conflicts and are tired of the central banks printing massive amounts of fiat, devaluing currencies, and causing hyperinflation.

Bitcoin Intentions: Are We Aiming to Replace the Status Quo or Become Them?

Then, after the 2008 economic crisis, a technological innovation called Bitcoin was born, allowing users a medium of exchange that couldn’t be censored. For the first time ever, a software-derived currency gained value, even though it wasn’t backed by a single individual, corporation or nation-state.

Bitcoin Intentions: Are We Aiming to Replace the Status Quo or Become Them?
Many people believe cryptocurrencies are meant to end the nation state’s and central bank’s rule over money.

Back in the early days, on Bitcointalk.org and developer IRC channels, Satoshi and other developers discussed many ideas that revolved around removing central authorities. On Feb. 11, 2009, Satoshi posted to the Foundation for Peer to Peer Alternatives (P2P Foundation) introducing his software to the world. Within that specific post, the software’s creator explained that most commerce now relies on third parties and financial institutions that ultimately can’t be trusted.

“Banks must be trusted to hold our money and transfer it electronically, but they lend it out in waves of credit bubbles with barely a fraction in reserve,” Satoshi explained. “We have to trust them with our privacy, trust them not to let identity thieves drain our accounts.”

From this point on, not only did Satoshi’s idea changed the entire way people had thought about money, but the entire concept of trusting a third party was turned upside down for those who listened. During Bitcoin’s infancy, there were no discussions of exchange-traded funds (ETF) backed by corporate entities like Cboe and Vaneck. Network fees were a penny or less for the network’s first few years and at that time anyone could send micro-transactions across the globe. But since then, BTC fees have fluctuated wildly, effectively censoring people in developing nations, from time to time, who can’t afford higher fees. This makes the network undesirable for remittances.

Bitcoin Intentions: Are We Aiming to Replace the Status Quo or Become Them?
How can BTC be censorship resistant if network fees censor more than half of the world?

Long ago, no one cared about Wall Street deals from Bakkt and institutional money flocking towards bitcoin. Satoshi talked about privacy, Tor and I2P integration back then — not shaking hands with the devil. Most people talked about using bitcoin to remove central authorities in banking, content publishing, music, tipping, domain services using .bit, and literally anywhere they could think of on the open web.

Taboo Talks of Darknets, Avoiding Taxes, and Even Remittances Has Been Replaced With the Need for Status Quo Acceptance

For a while now, these ideas have since been silenced by loud discussions of futures markets, politicians accepting bitcoin, and Wall Street thieves swapping BTC paper notes. Talking about things like darknet markets and the Silk Road is deemed ‘too taboo’ for the masses hoping and praying for elected officials to define bitcoin as ‘money.’

The malaise started in 2015 when blockchain hype jumped into light speed and more people began begging the state for cryptocurrency acceptance. Can you believe people ask permission from bureaucrats to use a permissionless currency? Instead of donating funds to Wikileaks, Antiwar, and other activists on the front lines, people now clap feverishly when they hear Goldman Sachs is contemplating a trading desk.

Bitcoin Intentions: Are We Aiming to Replace the Status Quo or Become Them?
My interview with Cody Wilson back in 2015.

We have not yet realized that institutional money does not equate to mass adoption. For some odd reason, many people believe that once big money players jump in on bitcoin, the demand will skyrocket. They grow excited any time a financial incumbent enters the ‘blockchain space’, thinking that this lead to a significant network effect. These individuals seem to forget how small the financial elite is within this world, and they are forgetting or ignoring the massive amounts of people who could use a hard currency without a third party. One would think that mass adoption begins with the people who need it the most — the unbanked. Some people will recall that at one time the remittance industry was regarded as a prime sector for bitcoin to dominate, but nowadays cross-border payments are a distant memory.

Bitcoin Intentions: Are We Aiming to Replace the Status Quo or Become Them?
Anarchist Amir Taaki has been very vocal against the current thought leaders and dogmatic followers.

There are certain thought leaders who are pushing a new agenda for Bitcoin technology. Many of these clowns disingenuously imply that the unbanked will be able to use bitcoin despite its high fees. Developers using sophistry act like meritocracy has elevated them to their positions. In fact, they’ve created a disgusting technocracy applauded by those prone to confirmation bias and circular logic.

Bitcoin Intentions: Are We Aiming to Replace the Status Quo or Become Them?
In the Bitcoin space ‘thought leaders’ have grown in number. 

Thankfully, they don’t seem to have anticipated the blowback they’ve instigated. The cult of Bitcoin personalities is slowly losing power but it will take time to dissipate. Over the past year, after 2017’s absurd comments about high fees being good for settlement, these individuals have started to promote using fiat over bitcoin.

People should start looking at the early days of Bitcoin again. They should re-read old forum posts and discussions concerning how it was once the goal to remove the world’s money from the state and central banks. Back then people followed a philosophy that aimed for consistent freedom, but the get-rich mentality and permission-seeking mindset has proven pernicious.

As John Lennon once said, it’s easy to become the status quo when you are entrenched in trying to replace them. Bitcoin deserves better.

What do you think about the original philosophy of the early adopters and cypherpunks being replaced by visions of joining the status quo? Let us know what you think about this subject in the comment section below.

OP-ed disclaimer: This is an Op-ed article. The opinions expressed in this article are the author’s own. Bitcoin.com does not endorse nor support views, opinions or conclusions drawn in this post. Bitcoin.com is not responsible for or liable for any content, accuracy or quality within the Op-ed article. Readers should do their own due diligence before taking any actions related to the content. 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 information in this Op-ed article.


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Markets Update: Stable Cryptocurrencies and Unstable Pegged Coins

Since our last markets update, cryptocurrencies have been steadily moving sideways as traders are patiently waiting for the next big move. On Wednesday, Oct. 17, bitcoin core has been hovering between $6,400-6,550, while bitcoin cash has been coasting along around $425-500 per coin. The market capitalization of all 2,000+ cryptocurrencies hasn’t budged much over the last two weeks and currently rests at $213.4 billion.

Also read: Bizarro World: Federated Sidechain Technology Promoted Over Nakamoto Consensus

Stablecoins Show More Action Than Most Cryptocurrencies This Week

Markets have been trading in a triangular and consolidated pattern since the last big spike on Sunday, Oct. 15. That day, bitcoin core (BTC) spiked to a high of $6,760 on a few exchanges like Bitstamp, and bitcoin cash touched $501. Additionally, exchanges that use the stablecoin tether (USDT) saw BTC and BCH prices rise even higher than most spot markets and BTC values saw highs above $7,000. This market behavior was due to USDT dropping below the value of USD, hitting a low of $0.86 per token.

Markets Update: Seemingly Stable Markets and Unstable Pegged Coins

Other stablecoins like TUSD, GUSD, and USDC saw significant volumes this week as lots of money poured into these specific markets. On Oct. 16, Circle’s stablecoin USDC grew 2,000 % in seven days on partner exchanges and that day’s USDC volume surpassed the week prior’s.

Markets Update: Seemingly Stable Markets and Unstable Pegged Coins

During that time, other stablecoins like GUSD and TUSD rose above their dollar pegs while USDT dipped below. Following the jump in value, BCH and BTC prices have dipped a hair and USDT values have regained momentum.

Markets Update: Seemingly Stable Markets and Unstable Pegged Coins

The Top Cryptocurrency Markets

Bitcoin core markets are down today around 1% and one BTC is trading for $6,534 according to Satoshi Pulse data. Ethereum (ETH) prices are down 1.4%, as each ETH trades at $207 this Wednesday. Following behind ETH is ripple (XRP), which is up 1.8% over the last 24 hours. XRP prices are hovering around $0.46 at the time of publication. Lastly, EOS is down 0.68% today and the digital asset is swapped for $5.39 per coin. Overall, the top contenders are down between one to 13% over the last seven days of trading sessions.

Markets Update: Seemingly Stable Markets and Unstable Pegged Coins
The top ten cryptocurrency markets on Oct. 17, 2018.

Bitcoin Cash (BCH) Market Action

Bitcoin cash spot markets are seeing BCH trade for $451 per coin with the currency’s value down 1.7% over the last 24 hours. Percentages are down even lower for the week as seven-day statistics show BCH has dipped around 11.7% this past week. The top five exchanges swapping the most BCH this Wednesday are Lbank, Hitbtc, Binance, Okex and Huobi. BTC is the top trading pair exchanged with BCH, capturing 41.8% of all spot market trades. This is followed by the trading pairs USDT (27%), ETH (16%), USD (5.2%), and KRW (5.2%). Bitcoin cash has the sixth-largest trading volume, as $301 million worth of BCH trades have been processed in the last 24 hours.

Markets Update: Seemingly Stable Markets and Unstable Pegged Coins
BCH/USD seven-day.

BCH/USD Technical Indicators

Looking at the four-hour and daily Bitstamp and Bitfinex BCH/USD charts shows some serious sideways action since the last spike. Many other digital asset charts like BTC/USD are following similar patterns, as traders seem to be finding new positions over the last two days. Currently, the BCH four-hour relative strength index (RSI -40) oscillator is meandering in the midrange and not granting many clues. The two simple moving averages (100 & 200 SMA) indicate a change may be in the cards as the two look as though they will be crossing hairs soon.

Markets Update: Seemingly Stable Markets and Unstable Pegged Coins
Oct. 17, 2018, BCH/USD Bitfinex

Unless things change, the 100 SMA looks to be dropping below the 200 SMA trendline, showing the path toward the least resistance will be the downside. Order books show there are big hurdles for BCH bulls from now until $465 and another pitstop above the $500 region. If things change and the price heads south, BCH bears will be stopped at $415 and $390 respectively.

The Verdict: Uncertainty Is in the Air

The verdict this week depends on who you ask, but can be generalized with one word: uncertainty. Some traders believe a bearish-to-bullish change is imminent, while others think cryptocurrency prices may sink lower. BTC/USD and ETH/USD shorts are fairly high, but not as much as they were a few weeks ago. The consolidated tight pattern and lack of shorts this week show uncertainty in the minds of traders waiting for a breakout in either direction.

Where do you see the price of bitcoin cash and other coins headed from here? Let us know in the comment section below.

Disclaimer: Price articles and markets updates are intended for informational purposes only and should not to be considered as trading advice. Neither Bitcoin.com nor the author is responsible for any losses or gains, as the ultimate decision to conduct a trade is made by the reader. Always remember that only those in possession of the private keys are in control of the “money.”


Images via Shutterstock, Trading View, and Satoshi Pulse.


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Bitpay Announces Stablecoin Support for Merchant Settlement

Bitpay Announces Stablecoin Support for Merchant Settlement

On Monday the cryptocurrency payment processor Bitpay announced the company is now supporting settlement options using two stablecoins — the Gemini dollar and the Circle Centre coin. Not only can Bitpay merchants settle in BCH, BTC, and local fiat currencies, but they can also utilize a US dollar-equivalent digital currency.

Also read: BCH Devcon Streamlines Bitcoin Innovation in San Francisco

Bitpay Now Supports Settlement With Two Stablecoins — USDC and GUSD

Bitpay Announces Stablecoin Support for Merchant SettlementStablecoins have been a hot topic recently as a slew of new assets has joined the crypto-economy’s ranks. On Oct. 15 the Atlanta-based firm Bitpay announced the company will now support stablecoins for merchant settlement options. This means Bitpay merchants can choose to accept the Gemini dollar (GUSD) or Circle’s Centre coin (USDC) for settlement instead of settling in BCH, BTC, or local currencies.     

“Bitpay was founded to make payments faster, more secure, and less expensive using Bitcoin for organizations around the world,” explained Stephen Pair, co-founder and CEO of Bitpay during the announcement.

Bitpay Announces Stablecoin Support for Merchant Settlement
Bitpay merchants can now settle in USDC and GUSD.

Using Stablecoins Can Produces Faster Settlement Compared to Traditional Bank Transfers

Pair also adds that stablecoins give merchants more options and a new alternative to settling in BTC and BCH. The Bitpay founder also details that stablecoins give individuals and organizations the ability to transact more fluidly with a “non-volatile settlement solution that does not rely on traditional bank wires.”

“Customers can skip costly, complicated cross-border wire transfers and receive or send international payments with Bitpay with accuracy, reduced fraud risk and quick bank settlement,” the payment processing firm emphasized.

The company also believes that global areas such as South America, Africa, and the Asia Pacific region would benefit significantly from the use of stablecoins. Using Bitpay’s services, traditional fiat bank settlement is initiated the next business day and it can then entail another 24 hours until the final settlement. Stablecoins, BCH, and BTC settle in a much quicker fashion and US dollar-equivalent digital currency prices tend to be far less volatile than regular decentralized assets.

What do you think about Bitpay supporting GUSD and USDC for merchant settlement? Let us know what you think about this subject in the comment section below.


Images via Shutterstock, Pixabay, and Bitpay


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Despite Setbacks Crypto Wages Still an Option for Russians, Poll Finds

Despite Setbacks Crypto Wages Still an Option for Russians, Poll Finds

Crypto markets have passed through hard times this year but cryptocurrency remains a viable remuneration option for businesses in the industry and their employees in Russia, new numbers and estimates suggest. The observation is valid for many companies and contractors around the world as a number of platforms now match employers and job seekers in the crypto space.

Also read: Russian Crypto Groups in Telegram Increase Membership Despite Ban

Half of Fintech Firms in Russia Pay With Coins, Estimate

Despite Setbacks Crypto Wages Still an Option for Russians, Poll FindsCryptocurrencies are yet to be legalized in the Russian Federation but a growing number of its citizens and businesses are earning their money in the crypto-space. Deputies in Moscow have postponed the final adoption of the draft legislation introduced in the Duma this spring and it’s been reported that the latest version of the law “On digital financial assets” does not even mention cryptos. Nevertheless, the industry is constantly expanding – the number of mining enterprises has increased by 15 percent this year, there is a strong demand for crypto experts, and the average salary in the sector is four times higher than the nation’s average monthly wage.

Russian crypto media have recently reported that around half of the local ICO projects and crypto companies use digital assets to settle their bills despite its unregulated status and unclear future in the country. Up to 50 percent of these businesses deal with their counterparts in cryptocurrency, according to Philipp Khomenok, Community Relations and Marketing Manager at Confideal, a service that helps clients create smart contracts on the ethereum blockchain. Many of these companies also pay their employees and contractors with digital money rather than fiat. This is often the case when Russian businesses hire foreign talent and expertise.

“If the legislation allows you to pay workers with cryptocurrency, a rather simple, completely transparent and ‘white’ scheme is applied, which allows you to collect taxes and other obligatory payments…If a country’s legislation does not allow crypto accounting, then all salaries will be ‘black,’” says Dmitry Lazarichev, co-founder of the popular European crypto card and wallet provider Wirex, quoted by the Russian outlet Bloomchain.

Crypto Salaries Gaining Popularity Around the World

Despite Setbacks Crypto Wages Still an Option for Russians, Poll FindsDifferent payment options are available and the UK-based Wirex pays wages in bitcoin core, U.S. dollars or both. According to Lazarichev, around half of its employees receive their salaries in BTC. Japanese internet giant GMO introduced a similar salary payment system in December. Other companies like Bitcoin.com use bitcoin cash (BCH) for accounting and remuneration purposes taking advantage of its fast and low-cost transactions. Ethereum and ripple are two other popular choices in Russia. Many ICO startups use their own tokens.

Salaries are often agreed as a fixed amount in fiat currency and then paid in cryptocurrencies according to the current exchange rate. A number of services are now matching employers with job seekers in the crypto space. Some of them, like Bitwage, allow companies to pay their remote contractors in dozens of fiat currencies and popular digital coins. Other platforms, such as Dream, Bitgigs, and Coinality, help companies find freelancers willing to accept crypto payments for their help, the publication details. Sites like Cryptojobs, Cryptojobslist, Cryptocurrencyjobs post openings with crypto salaries.

Youngsters and Men More Likely of Accept Wage in Cryptocurrency

Despite Setbacks Crypto Wages Still an Option for Russians, Poll FindsThis year’s market downturns are a sign of a weakening appetite for cryptocurrencies. Nevertheless, many Russians would still like to receive some of their monthly wages in crypto, according to a study conducted by the Russian jobs portal Superjob. The platform has been measuring their attitudes since the beginning of the year and despite the declining interest, 5 percent of the 1,600 respondents from all Russian regions polled in October said they wanted to get at least part of their salary in digital coins. That’s 7 percent among men and Russians in the age group 25-35, and 8 percent among youngsters, 18-24 years old.

According to results from another survey, published in September by Chronobank, an HR company working in the industry, only 30 percent of the Russians who receive compensation in cryptocurrency are ready to pay taxes. At the same time, almost half of the Russian respondents, 48 percent, admit they are aware that salary payments in cryptocurrency are not yet legalized in their country. If that ever happens is still an open question in Russia.

According to the latest reports from Moscow, the executive power intends to regulate the sector in cooperation with the intergovernmental Financial Action Task Force (FATF). Speaking to the Rossiya 24 channel, President Putin’s special representative for the digital and technological development, Dmitry Peskov, noted that the partnership with FATF is under consideration due to the high risks associated with the industry. He also admitted that the system evolves much faster than laws can be written and added that the adoption of a comprehensive law might not even happen. The new FATF crypto standards are expected by the end of October.

What are your expectations about the future of salary payments in cryptocurrency? Share your thoughts on the subject in the comments section below.


Images courtesy of Shutterstock.


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The post Despite Setbacks Crypto Wages Still an Option for Russians, Poll Finds appeared first on Bitcoin News.

An In-Depth Look at the Keepkey Cryptocurrency Hardware Wallet

Keeping cryptocurrencies safe is a fundamental part of participating in the digital economy, and hardware wallets have become popular security solutions. These days there is a slew of devices on the market, each with its own options and features. One of these is the Keepkey wallet, a product that’s been well received by digital currency investors over the last three years.

Also read: A Review of the Swiss-Made Digital Bitbox Hardware Wallet

The Keepkey Hardware Wallet

Testing and Comparing the Multi-Cryptocurrency Hardware Wallet KeepkeyEarlier this week I took a look at the Keepkey hardware wallet, a device that allows users to store multiple cryptocurrencies in a secure fashion. Keepkey is sold for US$129 per device, which is more expensive than the Ledger Nano, Coolwallet S, and Trezor One. Nevertheless, the small rectangular device is more pleasing to hold and the screen looks very nice when the Keepkey is operating. The case the Keepkey comes in is packaged well and resembles an unopened Apple product. Keepkey, Coolwallet, and the Ledger all have well-packaged boxes compared to the Trezor One packaging.

Testing and Comparing the Multi-Cryptocurrency Hardware Wallet Keepkey
Keepkey’s PIN system is identical to the Trezor entry method. Numbers are displayed on the device and the user has to submit the order on the Keepkey client’s on-screen pin-pad. 

The black Keepkey box is sealed in plastic wrapping and when removed there’s also a piece of tamper-resistant tape holding the box closed. After inspecting the tape and making sure the box has not been opened previously, a knife is needed to cut the tape’s seal. Inside the box is a Keepkey, a 12-word seed card, a USB cord, and some warranty information. The Keepkey has a plastic anti-scratch film laid over the device’s screen and is encased in black foam. Keepkey’s large OLED screen is pleasing to look at and is probably one of the device’s best features. After opening the Keepkey, I headed over to the company’s Getting Started page and downloaded the Keepkey application for Google Chrome. Keepkey only works with Chrome, but it’s the same with most hardware wallets now.

Connecting to Chrome and Initializing the Seed

After installing the application to Chrome, the platform asks you to plug your Keepkey in to get started. Immediately after initiating the Keepkey it required a firmware update and would not start the process of initiating a seed until the firmware was downloaded into the device. Removing the USB cable from my Keepkey was an uncomfortable feeling and it took a bit of force to insert and remove the cord compared to other devices. Ledger Nano is probably the best as far as connecting the cord, with the Trezor One following behind because my Trezor device has always had a weird connection feeling as well. However, after using the USB connection a few times with the Keepkey, connecting was easier and got much more comfortable to insert over time.

Testing and Comparing the Multi-Cryptocurrency Hardware Wallet Keepkey
Overall the Keepkey user interface is fairly intuitive and easy to navigate.

Moving on, the Keepkey begins by initiating a new device name, seed and PIN. The program makes you double check the PIN twice and then asks you to write down the seed phrase, which is located on the device itself. Unlike other hardware wallets, the Keepkey does not require you to double check the 12-word phrase. After this process, you are granted access to the first account which is dedicated to BTC. In order to add other cryptocurrencies, there is a dropdown menu that allows users to add BCH, DOGE, LTC, ETH, plus a range of ERC20 tokens.

Transactions, Shapeshift, and Comparisons to Other Models

Unlike other hardware wallets, Keepkey needs to be plugged in to view accounts and they can’t be seen when the device is disconnected. After the initial seed had been set up, I created a bitcoin cash (BCH) wallet to send myself some funds. Anytime I test a new wallet I always send a small fraction of crypto just to make sure the application is working properly. The wallet immediately saw the transaction; you can view confirmed and unconfirmed transactions in a separate window that’s tethered to a block explorer.

Testing and Comparing the Multi-Cryptocurrency Hardware Wallet Keepkey
Keepkey transactions can be viewed in a separate window and searched with the platform’s tethered block explorer.

The Keepkey’s interface is fairly intuitive, and you can change things like the PIN or use the wallet’s in-client Shapeshift option within the settings section. Sending and receiving is simple and the actual device itself is used for signing verification, while also showing sending/receiving addresses on the screen as well.

Testing and Comparing the Multi-Cryptocurrency Hardware Wallet Keepkey
Keepkey shows account addresses on the device’s screen.

Following the transaction, I decided to look at the client’s Shapeshift integration. Keepkey is owned by the firm Shapeshift AG and was one of the first hardware wallets to offer trading abilities within the wallet. Recently, however, Shapeshift has changed the platform’s business model to a membership exchange and all Keepkey users have to register using the client.

Testing and Comparing the Multi-Cryptocurrency Hardware Wallet Keepkey
Keepkey users can use Shapeshift in-wallet but have to register for the company’s membership program and verify their identity in order to trade.

The required items needed to use Shapeshift include a verified email and the user must submit a photo ID to trade. All of these tasks can be done through the Keepkey client and a quick email verification. After the account is processed you can trade on the Shapeshift exchange in-wallet using the “quick” or “precise” trading options.

Overall, the Keepkey operates fairly smoothly and I didn’t really have any problems throughout the setup and funding the device. The Keepkey’s user interface is more comfortable to move around and use than the Ledger Nano, and Keepkey operates similarly to the Trezor One. Unlike the Trezor or Ledger, the Keepkey uses one button navigation but still works fluidly with the wallet’s tasks like sending and receiving. The device doesn’t have support for too many cryptocurrencies right now, and other products offer a greater selection. But as far as the coins it does hold, the Keepkey offers an easy to use operating system and is just as secure as its competitors by using similar opsec techniques.

What do you think about the Keepkey hardware wallet? Let us know what you think about this device in the comment section below.

Disclaimer: This editorial should be considered Review or Op-ed material. The opinions expressed in this article are the author’s own. Bitcoin.com does not endorse nor support views, opinions or conclusions drawn in this post. Bitcoin.com is not responsible for or liable for any content, accuracy or quality within the Op-ed article. Review editorials are intended for informational purposes only. There are multiple security risks and methods that are ultimately made by the decisions of the user. There are various steps mentioned in reviews and guides and some of them are considered optional. Neither Bitcoin.com nor the author is responsible for any losses, mistakes, skipped steps or security measures not taken, as the ultimate decision-making process to do any of these things is solely the reader’s responsibility. For good measure always cross-reference guides with other walkthroughs found online.


Images via Jamie Redman, Keepkey, Shapeshift, and Pixabay. 


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Markets Update: Heavy Selling Across Leading Markets, ZRX Rallies

Markets Update: Heavy Selling Across Leading Markets, ZRX Rallies

The cryptocurrency markets appear to be consolidating following the significant sell-off that transpired on Thursday. The event saw BTC produce the largest percentage red daily candle posted since Sep. 5, driving losses across most major markets. ZRX was the most notable exception to the bearish price action that erupted through most cryptocurrencies, rallying significantly following the announcement that Coinbase Pro would be launching three ZRX pairings.

Also Read: Win $100 of Bitcoin Cash in Bitcoin.com’s Paper Wallet Design Contest

BTC Consolidates Within Triangle as Inter-Exchange Spreads Extend

BTC experienced a sharp sell-off yesterday, shedding nearly 6% against the dollar in little over an hour as it fell from roughly $6,630 to $6,250 on Bitfinex, and 7.35% as the market fell from $6,530 to a low of $6,030 on Bitstamp.

BTC/USD – Bitfinex – 1H

Despite the bearish move, the range of price action for BTC continues to consolidate and tighten within a long-term triangle formation, with many traders anxiously awaiting a significant move to break the triangle and establish a short-term direction for price action.

As of this writing, there is a significant spread in the price of BTC across various exchanges, with BTC trading for $6,330 on Bitfinex, $6,223 on Bitstamp, and $6,278 on Binance.

BCH Drops by 16%

BCH lost approximately 16% of its value when measured against the dollar yesterday, falling from $516 to $434 on Bitfinex, and from $510 to $428 on Bitstamp.

BCH/USD – Bitstamp – 1H

As with BTC, BCH is trading for a roughly 1% premium on Bitfinex. However, the majority of leading BCH markets by volume appear to be in unison, with BCH for approximately $451 on Bitfinex, and $446 to $447 across most leading exchanges as of this writing.

When measuring against BTC, BCH fell by 11% yesterday, dropping from 0.08 BTC to 0.0692 on Bitfinex. As of this writing, BCH is trading for 0.07115 BTC.

BCH/BTC – Bitfinex – 1H

ETH Slips Below $200, XRP Bounces Strongly

ETH lost more than 15% against the dollar yesterday, slipping from $226 to approximately $190 on Bitfinex, and is now trading for around $195.

ETH/USD – Bitstamp – 1H

When measuring against BTC, ETH lost approximately 10% as it fell from 0.034 BTC to 0.03. As of this writing, ETH is trading for approximately 0.0315 BTC.

ETH/BTC – Bitfinex – 1H

XRP suffered a loss of roughly 18% as it fell from $0.466 to $0.0383 on Bitfinex yesterday, before posting one of the stronger bounces of the major crypto markets today. XRP is currently trading at roughly 0.435% – approximately 12% higher than yesterday’s closing price, after retracing from its intraday high of almost $0.45.

XRP/USD – Bitfinex – 1H

XRP/BTC fell by roughly 12% yesterday, slipping from 0.00007 BTC to 0.000061 BTC. Despite the significant drop, XRP/BTC produced a significant recovery today as it rallied back to 0.00007 BTC, before retracing to its current price of roughly 0.000068 BTC.

XRP/BTC – Bitfinex – 1H

ZRX Rallies On Coinbase Pro Listing

Whilst most market suffered heavy losses yesterday, ZRX closed 2.7% above yesterday’s opening price of $0.76 after rallying on the news of Coinbase Pro listing USD, EUR, and BTC pairings.

Initially, ZRX fell by 15% from $0.765 to $0.646 in two hours yesterday, before news of the Coinbase Pro listing broke. The markets quickly recovered to the day’s opening price, before rallying as high as $0.9 on Bitfinex – roughly 17.5% higher than yesterday’s opening price. As of this writing, ZRX is trading for $0.79.

ZRX/USD – Bitfinex – 1H

When measuring against BTC, ZRX opened yesterday’s trading at 0.000114 BTC, before falling 8.5% to set an intraday low of 0.000104. ZRX then rallied to post an intraday high of 0.000144 BTC 26% higher than the day’s opening price, before closing the day up 8% at 0.000123 BTC. As of this writing, ZRX is trading for 0.0001255 BTC.

ZRX/BTC – Bitfinex – 1H

Do you think we will see a break down or a breakout when BTC exits its triangle? Share your thoughts in the comments section below!


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Disclaimer: Price articles and markets updates are intended for informational purposes only and should not to be considered as trading advice. Neither Bitcoin.com nor the author is responsible for any losses or gains, as the ultimate decision to conduct a trade is made by the reader. Always remember that only those in possession of the private keys are in control of the “money.”

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Zigzag Platform Provides Cryptocurrency Swaps Over the Lightning Network

Zigzag Platform Provides Cryptocurrency Swaps Over the Lightning Network

There’s a new exchange system under development called Zigzag.io, an app that allows users to swap bitcoin core for other digital assets like bitcoin cash, dash, and ethereum over the Lightning Network. The beta application is currently available to test cryptocurrency trades as the project launched on the main-network during the first week of September.

Also Read: Electron Cash Developer Reveals In-Wallet BCH Fundraiser Prototype

Lightning Network Trading

Zigzag Platform Provides Cryptocurrency Swaps Over the Lightning NetworkOver the last few years, cryptocurrency enthusiasts have been searching for different types of exchange solutions. A new platform launched by Zigzag.io provides a digital currency trading system that utilizes the Lightning Network (LN) for exchanges. The open source project enables users to swap coins by making a payment with any LN wallet to the exchange similarly to the way Shapeshift works. The Zigzag exchange only needs two cryptocurrency addresses to complete the process, and it doesn’t require any KYC data. 

Although, in order to use the Zigzag exchange, users need to send coins with the LN enabled wallets like Zap, Eclair, Lightning, or Htlc.me clients. The beta version only allows a maximum exchange of US$100 per trader for now. Additionally, since the application is in beta if something goes wrong the team has created a refund system. In the future, the team plans on designing a custodial wallet service where people can deposit BTC, BCH, DASH, ETH, and LTC and trade without having any prior LN knowledge.

“We highly appreciate the work of Lightning Network community. But there are still people out there for whom Lightning Network is hard to use, we think to introduce more people to Lightning there has to be a way to try it free of any technical expertise,” the developer’s blog states.

Zigzag Platform Provides Cryptocurrency Swaps Over the Lightning Network
The Zigzag exchange user interface.

Another Lightning Exchange Service on the Horizon

After the software’s first week of launch, the developers said they got a lot of feedback and feature requests from the community. Since then, Zigzag programmers have added reverse exchanges to the application. Two other requests they have not implemented yet was adding new trading assets and lifting the exchange cap of $100.

Zigzag Platform Provides Cryptocurrency Swaps Over the Lightning Network
Zigzag shows the latest swaps.

The team says they do plan to add more coins in the future, but it is not a primary focus. The move to lift the $100 trading cap is a bit trickier due to the maturity of the Lightning Network, the Zigzag team emphasized.

“This is a tricky question as Lightning Network is still in beta, we’re also still in beta, we also need to clarify legal part of our service, so for now we’re keeping limits low,” says the Zigzag team.

There’s been a slew of new trading platforms launching recently and testing out different trading techniques. Moreover, lots of cryptocurrency enthusiasts are in search of trading platforms that don’t use KYC. There’s also another open source Lightning Network exchange called Sparkswap that provides traders with the ability to exchange cryptocurrencies using LN technology and atomic cross-chain swaps. The Zigzag exchange and Sparkswap platform announced their platforms around the same time. Zigzag was developed by Andrey Samokhvalov, and Denis Khvostov and the application’s users can give the exchange operators feedback using the developer Slack channel.

What do you think about the Zigzag Lightning Network trading platform? Let us know what you think about this technology in the comments section below.

Disclaimer: Readers should do their own due diligence before taking any actions related to the mentioned company/product or any of its affiliates or services. The author and Bitcoin.com are 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 this article.  


Images via Shutterstock, and Zigzag.io


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Bitcoin Core Developer Advocates Credit Card Payments Over BTC

Bitcoin Core developer Jimmy Song has caused controversy by suggesting that bitcoin enthusiasts would be better off using credit cards as a means of payment. He described this strategy as being “more rational and convenient” than making multiple onchain transactions. His advice flies in the face of the rationale behind Bitcoin and has provoked a strong response.

Also read: Credit Card Cartels Landed With $6.2 Billion Price-Fixing Bill

Jimmy Song Sings the Praises of Fiat Currency

Bitcoin Core Developer Urges Credit Card Payments Over BTCBitcoin Core developers are expected to advocate the use of the cryptocurrency protocol they help to maintain. Jimmy Song’s invocation to use credit cards, where possible, has thus been greeted with incredulity in some quarters. “If you want to use bitcoin as a method of payment,” he began his tweet, implying that there was something odd about wanting to make payments with a cryptocurrency whose whitepaper is titled “a peer-to-peer electronic cash system.”

Song went on to describe his proposal for using credit cards to fund day-to-day payments and then paying off monthly bills in bitcoin. The justification for doing so was that such a mechanism would entail performing a single onchain transaction, rather than multiple ones for each purchase. Song’s tweet, liked by various Bitcoin Core developers and assorted cheerleaders, is not uncharacteristic. Blockstream CSO Samson Mow has previously opined that bitcoin “isn’t for people that live on less than $2 a day,” and asserted that such individuals may not even be computer literate enough to safely transact with cryptocurrencies.

Core Developers Dissuade Daily Use of Bitcoin

Credit Card Cartels Landed With $6.2 Billion BillA number of Bitcoin Core developers have voiced similar opinions to Song, including urging members of a meetup not to use their BTC to pay for dinner. The notion that the bitcoin ledger is sacrosanct, and that users should avoid sullying it with trifling transactions for everyday purchases, is an odd one to espouse, especially by figures who effectively serve as ambassadors for BTC adoption.

For those who discovered bitcoin early, bought cheap coins, and then watched their wealth skyrocket once the rest of the world caught on, the “store of value” narrative must be appealing. Such early adopters, especially those living in Western lands, have little incentive to spend their precious coins. For the rest of the world, however, seeking refuge from corrupt and permissioned fiat systems, bitcoin can be a lifeline.

Those earning under $2 a day don’t have the luxury of making purchases on credit cards before paying it off later in BTC. Moreover, as long as people are encouraged to prop up corrupt credit card cartels, bitcoin will change nothing. Criticism for Jimmy Song’s stance came in thick and fast and from all quarters:

Andreas Brekken may have put it best, though: “Get paid in bitcoin and convince your suppliers to accept bitcoin. That’s how you escape fiat. As a bonus you won’t be fueling the unwinnable war on drugs/terrorism.”

What are your thoughts on Jimmy Song’s tweet? Do you think onchain transactions should be minimized? Let us know in the comments section below.


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Exchanges Roundup: Pantera Fund Down 40%, Bittrex Delists Altcoins

Exchanges Roundup: Pantera Fund Down 40%, Bittrex Delists Altcoins

In recent news pertaining to cryptocurrency exchanges, images circulating online show Pantera Capital’s Digital Asset Fund had a lifetime-to-date performance of minus 40% as of the end of August, Bittrex has announced the delisting of Bitshares, Bitcoin Gold, and Bitcoin Private, and Indian cryptocurrency exchange, Bitbns, has been accused of falsifying its trade volume.

Also Read: Rapper Soulja Boy Releases New Single Titled ‘Bitcoin’

Pantera Digital Asset Fund Posts 40% Lifetime Loss So Far

Exchanges Roundup: Pantera Fund Down 40%, Bittrex Delists AltcoinsA post circulating on Twitter detailing the “August performance” of Pantera Capital’s Digital Asset Fund shows that the fund’s life-to-date losses were 40.8% as of the start of September.

The post also shows that the fund lost 22.3% in August alone, and is down 72.7% from the all-time highs posted by the fund in January.

Earlier this month, Bloomberg reported that the Grayscale Bitcoin Investment Trust has lost 80% of its value when compared with the fund’s December 2017 all-time highs after it recently established a new for 2018, signifying that the bearish performance of cryptocurrencies has fueled losses across numerous virtual currency funds.

Bittrex Delists BTS, BTG, and BTCP

Exchanges Roundup: Pantera Fund Down 40%, Bittrex Delists AltcoinsBittrex, the thirty-fifth largest cryptocurrency exchange by trade volume according to Coinmarketcap’s adjusted volume rankings, has delisted Bitshares (BTS), and Bitcoin Gold (BTG), and scheduled the delisting of Bitcoin Private (BTCP) for November 5th – citing low volume.

As of this writing, BTG has a 24-hour trade volume of nearly $4.7 million despite the Bittrex delisting, whilst approximately $3 million worth of BTS, and nearly $155,000 worth of BTCP has changed hands in the last day.

It total, Bittrex facilitated nearly $40.1 million worth of trade in the last 24 hours as of this writing.

Bitbns Accused of Faking Trade Volume

Exchanges Roundup: Pantera Fund Down 40%, Bittrex Delists AltcoinsA post authored by Indian cryptocurrency trader Karthik Varma has accused Bitbns of consistently faking its reported volume.

The author asserts that after launching in December, the exchange went on a listing spree in order to attract traders and liquidity, adding that the exchange was accused of faking volume in March following abnormalities in the trade volume of ETN – to which the exchange responded by stating that a bug in the company’s system was causing incorrect volume calculations.

In July 2018, the author asserts that Bitbns maintained strong volume despite trading activity on “most of the Indian exchanges […] decreasing drastically,” prompting analysis of Bitbns’ trade logs on the part of Mr. Varma.

According to Mr. Varma’s analysis, ”The volume reported” by Coinmarketcap for XRP pairings on Bitbns is “more than 500% than the actual volume,” and that the reported volume for BTC on the exchange is “668% than the actual volume.”

Do you think that the practice of falsifying trade volume is common among cryptocurrency exchange? Share your thoughts in the comments section below!


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Salt to Offer Crypto-Backed Loans in 7 Global Markets, 15 More US States

Crypto-Backed Loans Expand: Salt Moves to 35 States

Salt, a cryptocurrency-backed loan service, has announced plans to launch operations in seven new jurisdictions throughout the world, while offering its services in 15 more U.S. states. It will also include litecoin (LTC) among its offerings, while providing more competitive interest rates and removing loan caps.

Also read: Bitcoin Price: Wall Street Optimistic, Enthusiasts Pessimistic According to Fundstrat

 Expansion into New
International Markets

Salt revealed it is opening offices in states such as New Jersey, Massachusetts, Washington and Texas, bringing the total to 35 overall. It will also launch operations in Brazil, Hong Kong, Switzerland, Vietnam, Bermuda, Puerto Rico and the United Arab Emirates. The move follows the company’s expansion into 20 U.S. states in August, according to a company blog post.

Crypto-Backed Loans Expand: Salt Moves to 35 States

The Denver-based startup came to market in an initial coin offering (ICO) in August 2017, during last year’s boom. It is targeting enthusiasts who would rather hold their crypto than sell it into fiat. During an extended bear market, such services might become invaluable, should trends reverse in the future.

The company does offer consumer-level loans, but its main focus continues to be acting as a “liquidity provider for large crypto investors including individuals, mining operations, exchanges and other institutions in the blockchain ecosystem,” it explained in a press release. “With a primary goal of serving large clients, (offering) live portfolio valuation, around-the-clock global support, a range of competitive rates, flexible loan terms, and a proprietary custody solution enables it to meet the needs of individuals and businesses alike, making it the ideal loan solution for a wide range of clients.”

Critics: Just Another Bank

Loans against the US dollar carry interest of 5.99% when below $75,000, with rates doubling for loans up to $25 million. “For loans greater than $25 million, tailored options are available. Loan amounts and interest rates vary by jurisdiction.” Salt also claims to offer “no origination fees, no prepayment fees, no servicing fees, no closing costs,” and since they’re “one of the few companies lending in fiat currency,” Salt can “increase loan access and provide a multifaceted loan service to our customers across the world.”

Crypto-Backed Loans Expand: Salt Moves to 35 StatesThe combined news appears to have moved Salt’s proprietary token, SALT, up considerably. At one point it jumped 55%, with over $20 million flowing to the project — a 1,478% increase over previous levels. Analysts suggest the addition of litecoin to its bitcoin core and ether secure loan offerings drove speculators to pump the 109th-ranked token by market capitalization.  

ICO proponents typically tout the crypto-backed loan firm as an example of success. But critics of the platform complain Salt isn’t offering much more to the ecosystem than aping traditional banking mechanisms, enabling yet more fiat involvement — an aspect some enthusiasts find antithetical to cryptocurrency. It also doesn’t help matters when early in 2018 the company CEO suddenly bailed, leaving more than a few to wonder aloud if a classic ICO exit scam wasn’t underway. The fact the project has a token (ERC20-based, with a token supply of 120,000,000 and 54,507,718 circulating) is also troubling to some who view such a move as a pure money grab, rather than something offering any real utility.  

Do you expect to ever make use of crypto-backed loans? Let us know in the comments below. 


Images courtesy of Shutterstock, Salt. 


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Bitcoin.com Wallet Will No Longer Feature the Shapeshift Service

Bitcoin.com Wallet Will No Longer Feature the Shapeshift Service

This week we wanted to let our wallet users know that we are sunsetting the Shapeshift API in the Bitcoin.com Wallet. The trading platform Shapeshift has decided to change the firm’s business model to a membership platform that requires the user to submit ID/KYC information. 

Also read: Bitcoin Cash Games — Play Your Favorites Faster With BCH

Shapeshift Applies Membership Model

This week you may have noticed that the Shapeshift feature in the Bitcoin.com Wallet may not be working depending on where you live. That’s because Bitcoin.com has come to the decision to remove the in-wallet swapping service from our Wallet client. The Bitcoin.com Wallet is a non-custodial light client that holds both bitcoin cash (BCH) and bitcoin core (BTC) in a simplistic and secure fashion. Since we launched our wallet back in August 2017 we’ve seen 2.9 million wallets created so far. Our wallet is available for Windows, Linux, Mac, Android, iOS, and Android APK allowing anyone in the world the means to secure funds that are not held by a third party. Following the introduction of our wallet, the team at Bitcoin.com partnered with Shapeshift and added the coin shifting feature to the client last February.

Bitcoin.com Wallet Will No Longer Feature the Shapeshift Service

Last month the non-custodial crypto trading platform Shapeshift announced that the application would introduce a mandatory membership program. The firm has revealed that the membership program will require basic user information in order to utilize the crypto-to-crypto trading features. The company has further detailed that wallets using the Shapeshift in-wallet service will require a one-time authentication.

“If you are using a wallet that integrates with Shapeshift, you will need to authenticate once through the wallet to enjoy the benefits of your membership and to then use the http://shapeshift.io service,” explained the company.

Bitcoin.com Wallet Will No Longer Feature the In-Wallet Shapeshift Service

Even though Shapeshift will be required to use personally identifying Know Your Customer (KYC) flows, users can still visit the third-party site and still use Shapeshift with our wallet to exchange your bitcoin cash (BCH) or bitcoin core (BTC) for another cryptocurrency. Furthermore, there are several other non-custodial peer-to-peer exchanges available for cryptocurrency enthusiasts that our reporter Kai Sedgwick discussed a few weeks ago.

Our bitcoin-based light client is steadily approaching 3 million wallets created and Bitcoin.com is proud to serve each and every one of our users. As cryptocurrency wallet providers we want to directly communicate with our users on every new feature we add, as well as other subjects such as our decision to sunset the Shapeshift API from the Bitcoin.com Wallet. Stay tuned for more updates on our cryptocurrency wallet and other services we provide in the future.

Have you downloaded the Bitcoin.com Wallet? What do you think about our non-custodial light client? Let us know your thoughts in the comments section below.


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September Volume Report: Altcoins See Increase in Trade Activity

September Volume Report: Altcoins See Increase in Trade Activity

September saw all but three of the top twenty cryptocurrency markets post an increase in monthly trade volume. XRP pairings saw the strongest month-over-month volume gain, with 30-day volume tripling when compared with August.

Also Read: Markets Update: Crypto-Traders Patiently Wait for a Break Out 

BTC Stagnates, USDT and ETH Post Strongest Volume Since Q2

September Volume Report: Altcoins See Increase in Trade ActivityDespite relative stagnancy in monthly BTC trade volume, an increase in altcoin trade during September appears to have corresponded with an increase in USDT and ETH trading activity.

September saw approximately $124.3 billion USD worth of trade take place across all BTC pairings – comprising a meager 0.24% increase in trading activity over August’s $124 billion, and marking September as the second weakest month of trade for BTC pairings this year.

Trade volume for USDT pairings increased by almost 4.5% percent month-over-month – with $86.5 billion worth of USDT changing hands during September.

ETH pairings broke a multi-month trend of declining trade volume, with September’s $53.8 billion comprising a 17.6% increase over August’s $45.75 billion.

Monthly XRP Trade Volume Triples

September Volume Report: Altcoins See Increase in Trade ActivityXRP posted a dramatic increase in trade activity for September, disrupting the top rankings by volume to rank as the fourth most-traded cryptocurrency pairing after ranking seventh for four consecutive months. XRP pairings saw $24.7 billion worth of trade take place during September – a 216% increase over August’s $7.8 billion.

EOS was the fifth most traded cryptocurrency during September, with $20 billion in trade. Despite slipping down a place in the rankings, EOS posted a 10.5% increase in trade volume over August’s $18.1 billion.

Bitcoin Cash pairings produce $12.9 billion worth of trade during September, comprising a 26.5% increase in volume over August’s $10.2 billion.

LTC was the seventh most traded cryptocurrency during September – with $9.6 billion trade. The month saw a 34.5% increase in trade volume over August’s $7.14 billion and comprised the strongest month for LTC trade since May.

Monthly ETC Trade Volume Drops by One Third

September Volume Report: Altcoins See Increase in Trade ActivityDash has continued its steady climb up the top rankings – gaining one place for the second consecutive months since reclaiming its top ten position in July. During September, Dash was the eighth most traded cryptocurrency with nearly $6.5 billion in volume – a 23.5% increase over August’s $5.26 billion.

ETC has broken its four-month-long trend of increasing volume month-over-month after sliding to ninth with $5.1 billion in 30-day trade volume. Ethereum Classic was the only top ten cryptocurrency market to post a drop in month-over-month volume during September – posting 35.5% drop in volume compared with August’s $7.9 billion.

CKUSD climbed two places to rank in the top ten most traded cryptocurrencies for September with $4.07 billion in trade. September saw CKUSD post a 21% increase in volume over August’s $3.36 billion.

Most Top 20 Altcoins Post Volume Increase

September Volume Report: Altcoins See Increase in Trade ActivityQTUM moved one place up the rankings to eleventh during September after posting $3.64 billion in trade, despite volume dropping by 9% from August’s $4 billion.

TRX moved up one rank to twelfth for September with $3.52 billion in trade – a 2% gain over August’s $3.45 billion.

ZEC maintained its position at 13th after posting $3.36 billion in trade- a nearly 16% gain over last month’s $2.9 billion.

NEO moved up three places to rank fourteenth after producing $2.61 billion in 30-day volume – a 30% gain over the $1.83 billion in trade posted last month.

XLM has held its position at fifteenth for the third consecutive month after posting $2.3 billion in during September – an 18.5% gain over August’s $1.94 billion.

ADA has maintained its rank at sixteenth for the second month in a row. ADA posted $2.1 in trade volume during September – a 14.1% gain over last month’s $1.84 billion.on in trade – a 25% gain over August’s $1.615 billion.

ONT fell four positions to rank eighteenth this month. ONT posted $1.45 billion in monthly trade volume – a 38% drop from last August’s $2.34b.

BIX gained two positions to rank seventeenth during September after posting $2.02 billion in trade.

BTM appeared on the top twenty rankings during September after posting 1.34 billion in trade.

XMR ranked twentieth for volume this month, producing 1.05 billion in trading activity.

Do you think that volume in the altcoin markets will continue to increase? Share your thoughts in the comments section below!


Images courtesy of Shutterstock


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Markets Update: Crypto-Traders Patiently Wait for a Break Out

Markets Update: Crypto-Traders Patiently Wait for a Break Out

Cryptocurrency prices have remained in a consolidated pattern over the last two weeks with a few ups and downs, but have remained fairly stable in recent days. The overall market capitalization of all 1900+ cryptocurrencies is valued at $221 billion with close to $12 billion worth traded over the last 24-hours.

Also read: Bitpay Phases Out Crypto-Debit Cards for European Cardholders

Crypto-Markets Are Meandering Around as Traders Wait for a Break Out

Digital asset traders are patiently waiting for a break-out of some sort, in any direction, but it’s safe to say a lot of people are waiting for that bearish-to-bullish reversal. Today, just before the weekend, cryptocurrency trade volumes globally have ticked up and prices are meandering along with 2-3 percent swings at times. Bitcoin core (BTC) is hovering around $6,596 at the time of publication with a $114 billion total market valuation. BTC is the top traded coin by trade volume, as BTC markets are capturing $3.8 billion in daily trades. The second highest valued capitalization held by Ethereum (ETH) is around $22.9 billion with each ETH trading for $224 per coin. Ripple (XRP) is being swapped for $0.53 and the currency’s valuation is awfully close to Ethereum’s market cap at $21.3 billion. Eos (EOS) markets are up 3.5 percent today as one eos is being exchanged for $5.75 per coin.

Markets Update: Crypto-Traders Patiently Wait for a Break Out
Top ten cryptocurrencies October 4, 2018.

Bitcoin Cash Market Action

Bitcoin cash (BCH) markets are up only 0.9 percent today, and over the last seven days the currency has lost 8.3 percent. Today BCH is being traded for roughly $516 per coin and the overall market capitalization is $8.99 billion. With a 24-hour volume of around $452.9 million, bitcoin cash markets hold the sixth highest trading volume throughout the crypto-economy. The top five exchanges today swapping the most BCH include Lbank, Hitbtc, Binance, Okex, and Huobi. Tether (USDT) is the currency traded with BCH the most today as USDT captures 36.5 percent of the market. This is followed by BTC (34.1%), ETH (19.4%), USD (4.6%), and KRW (1.8%).

Markets Update: Crypto-Traders Patiently Wait for a Break Out
Bitcoin Cash (BCH) 10-4-18 3:20 pm EDT.

BCH/USD Technical Indicators

Looking at the daily and 4-hour BCH/USD charts on Bitfinex and Bitstamp show bears have managed to lower the price of BCH to get in on some cheaper coins. On the 4-hour charts, both the RSI (-36) and Stochastic oscillators show markets are remaining in oversold territories at press time. One thing that’s worth noting is the two Simple-Moving-Averages (SMA) are about to cross hairs and this could mean an upside trend reversal is in the cards.

Markets Update: Crypto-Traders Patiently Wait for a Break Out
BCH/USD Bitfinex daily 10-4-18.

The 200 SMA is still slightly above the 100 SMA trendline showing for now the path towards the least resistance is still the downside. The 4-hour MACd shows room for improvement and Bollinger bands are extra tight. Looking at order books we can see lots of opposition at the current vantage point up until $550 and then again at $580. On the backside, if bears try and claw the price down more then there are thick foundations at $480 all the way to $460.

Markets Update: Crypto-Traders Patiently Wait for a Break Out
BCH/USD Bitfinex 4-hour 10-4-18.

The Verdict: Traders Uncertain of a Bullish Reversal or Downside Break

Of course, there are a lot of analysts who believe crypto prices will grow bullish again this year and some think BTC can hit $20K again. However this week on CNBC the CEO of crypto investment firm Galaxy Digital, Michael Novogratz said he doesn’t think BTC will go above all-time highs in 2018 and continues, “I don’t think it breaks $9,000 this year.” During an interview this week the cryptocurrency analyst Nikola Lazić forecasted a downturn in prices.

“I am expecting a breakout from the downside because the horizontal support has already been broken today, the red triangle’s support has been broken in the past when the price found support on the symmetrical triangle’s uptrend line which was respected in the past,” explains Lazić.

The analyst continues:

If that last support gets broken then we are definitely seeing a lower low which would be below $5,767 (£4,458).

Overall markets, in general, have been consolidating and traders are simply waiting for the next spike or drop depending on which way they are betting. It’s safe to say enthusiasts and traders are still uncertain where markets will take them during the last quarter of the year.

Where do you see the price of Bitcoin Cash and other coins headed from here? Let us know in the comment section below.

Disclaimer: Price articles and markets updates are intended for informational purposes only and should not to be considered as trading advice. Neither Bitcoin.com nor the author is responsible for any losses or gains, as the ultimate decision to conduct a trade is made by the reader. Always remember that only those in possession of the private keys are in control of the “money.”


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Frictionless Commerce: A Story of How Easy It Is to Start Accepting Bitcoin Cash

Frictionless Commerce: A Story of How Easy It Is to Start Accepting Bitcoin Cash

Earlier this week news.Bitcoin.com received an email from an e-commerce shop owner who was having lots of issues dealing with traditional payment providers. Many of the problems stemmed from him not having a formal address and having bank accounts in different countries. However, the owner of store Bohemianbeachstyle.com quickly found out about Coinbase Commerce and how easy it is to accept the frictionless digital asset bitcoin cash and other cryptocurrencies.

Also read: Popular Discussion Board 4chan Now Accepts Cryptocurrencies for Passes   

An Online Store Owner’s Difficulties With Traditional Payment Providers

This week an individual named Fabio, the owner of the online fashion outlet Bohemianbeachstyle.com, sent news.Bitcoin.com an email detailing his struggle with dealing with traditional payment providers like Paypal and credit cards. Fabio is originally from Italy and he lived in the UK for a few years, but just recently he moved to Dubai with his girlfriend.

Frictionless Commerce: A Story of How Easy It Is to Start Accepting Bitcoin Cash
Fabio the owner of Bohemianbeachstyle.com just added Bitcoin Cash (BCH) acceptance to the e-commerce shop via the Coinbase Commerce platform.

Since moving to Dubai, Fabio realized how much harder it was to set up payment services for the online business he recently started. Fabio began to have issues with credit card services and Paypal, and had to dedicate lots of hours dealing with lawyers, agencies, and other countries to get things situated.   

“Since all of our documents are in the name of my girlfriend and I am only renting a space, I don’t actually own an address on my own — This is where I started to realize that I couldn’t do many things since I don’t have a “proof of address,” Fabio explains to news.Bitcoin.com. “My passport is Italian and my bank account is in the UK and UAE — This is confusing for a lot of banks when you need to ask them to verify your payments,” the store owner adds.

Frictionless Commerce: A Story of How Easy It Is to Start Accepting Bitcoin Cash
Fabio said he had a lot of problems with laws and traditional financial institutions. 

Coinbase Commerce and Bitcoin Cash to the Rescue

Fabio continues by saying that governments and laws have not been on his side so he recently created an account with Coinbase Commerce. To Fabio’s surprise setting up an account for Bohemianbeachstyle.com to accept cryptocurrencies only took him five minutes.

“Nobody asked me where I was from, passport, gender, nationality etc. — And since for me the real bitcoin is Bitcoin Cash and I don’t want to struggle with fees, I am happy to tell you that Bohemianbeachstyle.com is probably the first Bohemian clothing style e-commerce site that is proudly accepting ONLY Bitcoin Cash,” Fabio explains.

The Bohemian clothing style shop owner continues:

The power that BCH is unleashing to people is insane, I can now focus on what I like to do best, serving customers with great products at extremely cheap prices. Unfortunately, not that many crypto-owners are using cryptocurrencies for commerce and that’s why I wanted to reach out — I know your message is to let people to start using BCH as money and I hope you succeed.

Frictionless Commerce: A Story of How Easy It Is to Start Accepting Bitcoin Cash
Signing up for a Coinbase Commerce account takes about five minutes and the application is non-custodial which means you hold your keys.

Signing up for Coinbase Commerce Takes Little Registration Effort and an Account Can Be Created in Five Minutes  

After hearing Fabio’s story we decided to register at Coinbase Commerce (CC) to see how fast the sign-up process is and how much information is needed to set up. When entering the CC website the page asks the user for an email to register an account. We simply typed in our email and the account verification was sent to us instantly.

Frictionless Commerce: A Story of How Easy It Is to Start Accepting Bitcoin Cash
After signing up for CC users need to customize everything and add their domain to the account.

Following this step and gaining access to the CC account the platform requires two steps before beginning — Initiating two-factor authentication and writing down a seed phrase. After that, you can configure your payment choices from four different cryptocurrencies including bitcoin cash (BCH), ethereum (ETH), bitcoin core (BTC), and litecoin (LTC). On the CC dashboard, you can toggle these currencies on and off depending on which digital assets you prefer.

Frictionless Commerce: A Story of How Easy It Is to Start Accepting Bitcoin Cash
Coinbase Commerce allows for API key creation and webhook subscriptions. An online store can also integrate the service through Woo commerce, Prestashop, Shopify, Magento, and Open Cart. 

Coinbase Commerce then allows you to customize the payment page by whitelisting a domain so you can embed a payment button on your website, create an API key, and add a webhook subscription URL to start receiving payment notifications. So signing up for Coinbase Commerce literally only takes five minutes like Fabio said and it only requires an email and a two-factor authentication app. However, customizing the merchant options will take store owners a bit more time to configure the payment services to the website in question.  

Non-Custodial Savings and the ‘Importance of Economic Freedom’

Further unlike the Coinbase exchange or some of the other cryptocurrency payment providers, Coinbase Commerce gives the user the seed phrase all the assets are in the owner’s control. The platform’s ease of use allows people like Fabio and his e-commerce shop Bohemianbeachstyle.com the ability to accept cryptocurrencies without all the traditional hassles involved with existing financial institutions.

Fabio says since the experience he’s learned a great lesson and “understands the importance of economic freedom.”

What do you think about Fabio’s story? Have you tried the Coinbase Commerce platform? Let us know what you think about this story in the comments section below.


Images via Shutterstock, Pixabay, Bohemianbeachstyle.com, and Coinbase Commerce


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Study Finds Growing Number of BATMs in Belgium and the Netherlands

Study Finds Growing Number of BATMs in Belgium and the Netherlands

The number of cryptocurrency ATMs in Belgium and the Netherlands is growing, according to newly released data. Amsterdam is leading among major cities in the Benelux region, with 12 machines supporting digital coin transactions. Luxembourg, which is a global center of traditional finances, is lagging behind in terms of available crypto teller services.       

Also read: A Guide to Building Your Own Crypto Mining Rig

Amsterdam Leading the Race With 12 Crypto Teller Machines

Study Finds Growing Number of BATMs in Belgium and the NetherlandsThe countries of the Benelux, the heart of Europe in many respects, are not only geographically close and culturally similar, but also enjoy a high degree of economic integration. The European crypto community would very much like to see the same level of cohesiveness when it comes to cryptocurrency adoption in the three states, all founding members of the European Union. Recently published data suggests, however, that they differ in at least one crypto-related aspect – the availability of teller services for digital cash.

A number of cryptocurrency teller machines have been installed in Dutch and Belgian cities in the last few years, with Amsterdam being the pronounced leader. Known for its numerous canals, Holland’s largest city may soon be famous for its bitcoin ATMs too – 12 are currently operational there, according to a report released by Statista. At least two of them support both purchases and sales of cryptocurrencies such as bitcoin core (BTC), ethereum (ETH) and litecoin (LTC).

As of August 2018, Antwerp, the second most populous metro area in neighboring Belgium, is a distant second behind Amsterdam, with 3 BATMs. Brussels, the Belgian capital, and Rotterdam, the second largest Dutch city, both have 2 devices selling digital coins. According to Coinatmradar, one of the machines in Brussels, which is a buy-only device, offers users the opportunity to purchase bitcoin cash (BCH) along with bitcoin core (BTC), ethereum (ETH) and litecoin (LTC).

Twelve other destinations in the two countries have at least one crypto teller machine. These include the cities of Sint-Truiden, Ghent, and Hasselt in Belgium as well as Almere, Utrecht, Eindhoven, Oudenbosch, Tiburg, Bavel, and Hoorn in the Netherlands. The Hague, the seat of the Dutch government, and Schiphol Airport, outside Amsterdam, each have one operational crypto ATM. The devices in the two countries are part of over 3,660 BATMs installed globally as of September 2018.

Luxembourg Lagging Behind

Neighboring Luxembourg, which has established itself as an international financial and banking hub, is not covered by the Statista report. The Coinatmradar database does not contain information about cryptocurrency teller machines on its territory either. According to another study, conducted earlier this year, 92% of its residents stated they did not possess any cryptocurrency. At the same time, 6% said they had bitcoin core (BTC), and 2% admitted they owned bitcoin cash (BCH), ethereum (ETH) and/or ripple (XRP). The data indicates a relatively limited spread and use of cryptocurrencies in Luxembourg.

In general, residents of the Benelux region own less digital cash than the average European consumer, Statista notes. The biggest number of crypto owners has been found among Dutch people this year, and in the first three quarters of 2017 there were approximately 44,000 bitcoin (BTC) trading transactions in the Netherlands. A poll conducted in the beginning of last year, before the public interest spiked with skyrocketing market prices, showed that 46 percent of the respondents in Holland had heard about digital currencies.

Study Finds Growing Number of BATMs in Belgium and the NetherlandsAs in most of Europe, the regulatory situation in the Benelux countries needs a more comprehensive approach. However, in the past year authorities in Belgium have mostly issued warnings about fraudulent schemes related to crypto investments. In June, the Dutch financial regulator, AFM, told institutions invested in cryptocurrencies that some of their activities might require licensing. The agency asked to be informed in advance about any expansion of their crypto product offerings. In March, the country’s finance minister called for the development of regional and international crypto regulations but the Dutch central bank stated in August that cryptocurrencies are not money. Luxembourg, which has attracted companies like Bitstamp, Bitflyer, and Revolut with its licensing regime giving them freedom to operate across Europe, has still to decide whether it wants to become a truly crypto-friendly jurisdiction.

Do you think the Benelux countries will eventually adopt favorable regulations for the crypto sector and the fintech industry? Share your expectations in the comments section below.


Images courtesy of Shutterstock, Statista.


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China’s Oldest Science and Tech Publication Accepts BTC for Subscriptions

China's Oldest Science and Tech Publication Accepts BTC for Subscriptions

On Sunday China’s oldest tech media publication, Beijing Sci-Tech Report (BSTR) also known as ‘Technology life,’ has announced the business is accepting bitcoin core (BTC) for the magazine’s 2019 subscriptions.

Also read: Launching a Website on the Bitcoin Cash Network Is Now a Reality 

The Publication Beijing Sci-Tech Report Now Accepts BTC for 2019 Subscriptions  

The Beijing Sci-Tech Report (BSTR) is one of the oldest science and technology publications in China. The media organization prints editorials stemming from its ‘Technology Life‘ team of authors, and it also publishes approved content from the well known US science journal Popular Science. This weekend the magazine has announced that it will be accepting BTC for subscriptions towards its 2019 publications. The cost to subscribe to BSTR will be 0.01 BTC (about 450 yuan or $65 USD).

China's Oldest Science and Tech Publication Accepts BTC for Subscriptions
@Cnledger reveals the news on Twitter. 

The Beijing based publication has written reports on cryptocurrencies in the past and the use cases of blockchain technology. According to the press release, the announcement to accept BTC was brought about by the magazine’s desire to promote blockchain technology in a real-world setting for “practical actions.”

“For a long time, blockchain technology has also been the object of in-depth tracking reports offered by Beijing Science and Technology Report and Technology Life,” the magazine’s press release details.

China's Oldest Science and Tech Publication Accepts BTC for Subscriptions
The Beijing Sci-Tech Report (BSTR)

Embracing the Payment Technology in Order to Cultivate New Readers

One interesting fact about BSTR accepting bitcoin, the firm says, is that if the price of BTC grows significantly by 2020, they will also offer some refunds to those who have subscribed using the digital currency. A translated BSTR statement explains the publication hopes to “cultivate new readers” by embracing the payment technology.

Beijing Sci-Tech Report is not the only publication that has tried to entice readers by accepting cryptocurrencies. Back in 2014 Time Incorporated announced accepting BTC through Coinbase for subscriptions to Fortune, Good Health, Travel and Leisure, and This Old House. In April of the same year, the Chicago Sun-Times also revealed it would accept BTC for payments. However, both publishing companies have since removed the BTC payment option. Beijing Sci-Tech Report being a technology-oriented magazine may have better luck than its periodical predecessors.

What do you think about Beijing Sci-Tech Report (BSTR) accepting BTC for 2019 subscriptions? Let us know what you think about this story in the comment section below.


Images via Shutterstock, BSTR, and Pixabay.


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