PR: eToro Announces Expansion Plans

eToro Announces Expansion Plans

This is a paid press release, which contains forward looking statements, and should be treated as advertising or promotional material. Bitcoin.com does not endorse nor support this product/service. Bitcoin.com is not responsible for or liable for any content, accuracy or quality within the press release.

– Launch of a crypto exchange and wallet –
– Bringing crypto offering to the U.S. market –

Global investment platform eToro has today announced plans to expand its cryptocurrency capabilities and subject to regulatory approvals will launch an exchange and a digital wallet. eToro will also bring its cryptocurrency offering to the United States, launching the platform to U.S. customers later this year under the leadership of the newly appointed U.S. Managing Director Guy Hirsch.

Yoni Assia, Co-founder and CEO of eToro, said: “We believe that in the future all assets will become digitised. This will help to open the markets to everyone and enable them to invest in the assets they want in a simple and transparent way. Crypto is the first step on this journey and we are excited to share our plans to launch an exchange and wallet.”

The announcements made today at Consensus 2018 in New York, follow the news in March that eToro had completed its Series E funding round, raising $100m USD to accelerate its global expansion and the development of blockchain technology to support the digitisation of assets. The platform enables people to invest in the assets they want to own from cryptocurrencies though to traditional assets such as commodities.

Yoni Assia, commented: “An exchange and wallet are important additions to our crypto offering and we know that both have been eagerly anticipated by our customers.”

eToro currently offers ten cryptocurrencies (Bitcoin, Ethereum, Bitcoin Cash, XRP, Litecoin, Ethereum Classic, Dash, Stellar, NEO and EOS) with plans to add more coins over the coming months. eToro’s cryptocurrency to cryptocurrency exchange will launch later this year enabling customers to trade coins.

The wallet will be launched as a phased rollout with select customers participating in beta testing to ensure that eToro provides an app which best meets its customers’ needs. The wallet app will be available to download on the App Store and Play Store and will work across multiple platforms and in multiple languages. It will enable users to hold multiple cryptocurrencies and tokens.

Since launching in 2007, eToro has built a global community of more than ten million investors across 140 countries. Guy Hirsch has been appointed US Managing Director responsible for bringing eToro’s cryptocurrency offering to the United States. Guy previously served as Director of Innovation Strategy at Samsung and has extensive experience across digital transformation and unified commerce.

Guy Hirsch, USA Managing Director, eToro, said: “eToro empowers investors with a platform that gives them access to the assets they want, shared knowledge and ease of transaction. We know that there is a strong demand in the U.S. for crypto and we are excited to be able to offer U.S. investors the opportunity to learn about and invest across multiple cryptocurrencies.”

eToro will offer U.S. investors three ways to access the crypto markets: manually invest in a coin, automatically copy the trades of other traders on the platform to benefit from their knowledge and investment expertise, or invest in a Crypto CopyFund which provides a diversified portfolio of major crypto assets.

From today, U.S. investors can visit eToro.com to join the waiting list ahead of the launch of the U.S. platform later this year.

ENDS

About eToro
eToro empowers people to invest on their own terms. The platform enables people to invest in the assets they want, from cryptocurrencies to commodities. eToro is a global community of more than ten million people who share their investment strategies; and anyone can follow the approaches of those who have been the most successful. Users can easily buy, hold and sell assets, monitor their portfolio in real time, and transact whenever they want.

eToro is regulated in Europe by Cyprus Securities and Exchange Commission and regulated in the UK by the Financial Conduct Authority. www.etoro.com

Contact Email Address
https://www.etoro.com/about/contact-us/
Supporting Link
www.etoro.com

This is a paid press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release.

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China Plays Jekyll & Hyde, After Ban It Will Publish Monthly Crypto Report

China Plays Jekyll & Hyde, After Ban It Will Publish Monthly Crypto Report

China’s government is well known as a crypto hater, and its banishments and pronouncements are the stuff of wild market swings. That doesn’t mean, however, they’re not keeping close eye on decentralized currencies. In fact, according to recent press releases, Chinese authorities are set to publish regular monthly analysis of over two dozen crypto assets, its Global Public Chain Assessment Index.

Also read: Bitcoin’s Anonymous $55 Million Pineapple Fund Gives Final Donation

China Set to Provide Monthly Cryptocurrency Report

“This independent analysis of cryptocurrencies and global public blockchain technology demonstrates the confidence of the Chinese Government in the technology, and will act as a guide for government, enterprise and research institute,” a government press release read this week.

China Plays Jekyll & Hyde, After Ban It Will Publish Monthly Crypto Report

Beijing was indeed home to provocative announcements by the government of China such as the above. At a conference, its respective technology ministries explained their monitoring, by way of analysis, nearly thirty cryptocurrencies. Among them, “the first batch of assessment objects were identified: Bitcoin, Ethereum, Ripoco [Ripple], Litecoin, Bitcoin Cash, Cardano, Starcoin, NEO, Ioota, Monroe Currency, Dash, New Currency, Ethereum Classic, Quantum Chain, Nano, Application Chain, Big Zero Coin, Verge, Stratis, Cloud Storage, Stimco, Bit Stock, Bitcoin, Coin, Decred, Super Cash hcash, Komodo, ARK,” various bodies detailed.

Standards for inclusion, according to a Google Translate of the government press release, are, “First, it has its own independent main chain; Second, the public chain node can be freely created; Third, it has an open block browser, block information can be consulted; Fourth, code open source; The fifth is to have a project home page, the project team can contact.”

Blockchain, Not Currency

The government expects shortly to have some kind of ranking system published. The Global Public Chain Assessment Index, as it is referred to, appears to be a way to “evaluate the technological capability, the usefulness of the application and the innovativeness of the project,” government minders insisted, and to determine “development level of the projects to profoundly understand the trend of blockchain technology innovation.”

China Plays Jekyll & Hyde, After Ban It Will Publish Monthly Crypto Report

The conference press releases are full of effusive praise for ‘blockchain’ technology, a corporate staple among buzzwords all over the world. Cryptocurrency trading, of course, is not allowed in the world’s most populous country, and that hasn’t changed. And it’s probably why the currency aspect of crypto was not emphasized, but instead its variations on the distributed ledger technology theme.  

“The first phase of the global public-owned chain technology evaluation index,” the government noted, “will be released in the near future. The official website of the China Electronic Information Industry Development Institute will be the only designated release platform for the evaluation index.”

Is the Chinese government warming to crypto? Let us know in the comments section below.


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Retail Investors Can Now Buy the Ethereum Classic Investment Trust

The Ethereum Classic Investment Trust was officially listed on over-the-counter (OTC) marketplace OTCQX on Thursday, providing retail investors with the opportunity to purchase shares of the fund through their brokerage and retirement accounts. The fund, which is listed under the ticker symbol ETCG, is a creation of Grayscale Investments, who purchases “physical” ethereum classic tokens

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London-Based LBX Exchange Adds Bitcoin Cash to Its Offerings

London-Based LBX Exchange Adds Bitcoin Cash to Its Offerings

London Block Exchange has listed Bitcoin Cash (BCH) and Ethereum Classic (ETC) among its cryptocurrency offerings. The platform dedicated to the UK market now trades six cryptocurrencies against the GBP. LBX opened with OTC trades in November and promised to add multiple new coins in the future. The exchange also offers on-shore UK banking.

Also read: Bitcoin Cash Adoption Continues: Crypto Cafebar, Gold Vendor, Concealed-Carry Clothing

London Block Exchange Now Trades Six Cryptos

London-based cryptocurrency exchange LBX has added support for Bitcoin Cash (BCH) and Ethereum Classic (ETC) trading against the British pound. London Block Exchange claims to be the only UK crypto platform currently offering GBP pairing with BCH and ETC. It also provides its clients with on-shore banking services and access to the Faster Payments system.

London-Based LBX Exchange Adds Bitcoin Cash to Its OfferingsThe multi-coin exchange dedicated to the UK market now lists six cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), and Litecoin (LTC). Its management has promised to regularly add new cryptos. The decision to introduce Bitcoin Cash and Ethereum Classic comes weeks after the centralized Ripple (XRP) was added.

“We are excited to announce that we have an addition to our blossoming selection of cryptocurrencies. Our customers will now be able to buy, sell, send, and receive Ethereum Classic (ETC) and Bitcoin Cash (BCH),” the company said in a post on its website. According to the press release, the cryptocurrencies will be tradable with the following pairs: BCH-GBP, BCH-BTC, ETC-GBP, and ETC-BTC.

“As we open our doors to UK crypto enthusiasts, we’re listening and acting on what the community wants – and that’s an array of good quality coin options to trade, all backed by a reliable, comprehensive and user-friendly service that they can trust,” LBX founder and CEO Benjamin Dives stated.

LBX Offers On-Shore Accounts for Its Clients

LBX is based in London’s Canary Wharf commercial district. The multi-cryptocurrency platform provides crypto-exchange services to both consumers and institutional investors via its online platform and through a mobile app. It follows strict know-your-customer and anti-money-laundering procedures.

London Block Exchange is also an e-wallet services provider registered with the UK’s Financial Conduct Authority. In March, it announced it will offer its members access to the Faster Payments system. The platform also introduced on-shore accounts for its clients.

The price of Bitcoin Cash has spiked in recent weeks amidst strong demand for BCH. Its market value is currently hovering around $1,300 per coin. The surge was accompanied by more positive news. Revolut, a European startup offering alternative banking services, has recently announced it will be adding support for Bitcoin Cash, as news.Bitcoin.com reported. Meanwhile, an increasing number of businesses have started accepting Bitcoin Cash (BCH).

London-Based LBX Exchange Adds Bitcoin Cash to Its Offerings

A recently conducted poll detected growing awareness about cryptocurrencies among British people. More than 90 percent of the interviewed said they had heard of bitcoin. The survey also found that many Britons, a third of the respondents, would be more likely to invest in cryptos if they were regulated. At the same time, 60 percent said they would not support a state-controlled cryptocurrency issued by the Bank of England.

UK-based professional investors are even more bullish. A poll among 150 financial services professionals and retail investors found that 54 percent of them expect the prices of cryptocurrencies to rise this year. More than half of the surveyed declared intentions to acquire more digital money and a third said they would retain their crypto holdings or sell only a part of them.

Do you think cryptocurrency trade will develop in Britain, whose capital city is a global center for traditional finances? Tell us in the comments section below.


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Test Drive: New Cryptocurrency Mobile App ‘Circle Invest’

Trialling the New Cryptocurrency Mobile App 'Circle Invest'

This week news.Bitcoin.com gave the beta version of the new Circle Invest application a trial on Apple’s Testflight platform. The new Circle app aims to be a Coinbase competitor by the looks of the user interface as the platform has a lot of similarities.

See also: How to Buy Bitcoin When You’re Underage

The Circle Invest App On Testflight

Trialling the New Cryptocurrency Mobile App 'Circle Invest' Just recently we were sent an invitation code to give the new Circle Invest app a test, so we decided to give our readers a sneak peek before the official release. The company Circle is a well-known firm in the bitcoin space founded in 2013 by Jeremy Allaire and Sean Neville. A lot of venture capital has been injected into Circle to the tune of $136 million USD from investors like IDG Capital Partners, and Goldman Sachs. When the company first started it sold BTC to customers through an iOS and Android app but stopped the service back in 2016. Following this pivot the firm operated by offering large over-the-counter sales to investors internationally.

Then back in November of 2017 Circle announced the launch of the new service claimed it would offer custodial accounts, no commissions, liquidity, and multiple cryptocurrencies. At the time the company said Circle Invest would feature bitcoin core, ethereum, ripple, bitcoin cash, and litecoin. The beta version of Circle Invest 1.0.0 only has bitcoin core, ethereum, bitcoin cash, ethereum classic, and litecoin at the moment. It’s unclear right now if the ripple will be added at a later date. During our review, we tested the Apple beta release, but the company has stated an Android version of Circle Invest will also be launched.

Trialling the New Cryptocurrency Mobile App 'Circle Invest'
The new Circle Invest app has BCH, ETC, BTC, ETH, and LTC right now. Other coins may be added to the public release.

 Five Different Digital Assets

Opening the app users are given the familiar Circle theme with an interesting pastel color look. Anyone who is comfortable with Circle’s older platform or even the latest Coinbase application should have a good understanding on how to use the platform. There are multiple sections within the app that shows your portfolio, log-charts for ETH, BTC, LTC, BCH, and ETC. The price charts for each currency also display the market movements in a one day, week, and yearly view. Moreover, the app will give you the loss and gain percentages for each period. All of the currencies can be seen in unison with a quick scroll as well.

Just like Coinbase in order to utilize the Circle Invest app users have to verify their identity. An authenticated identity will allow an individual to purchase and sell the listed cryptocurrencies using the platform. To purchase digital assets with the Circle Invest platform, a bank account must be tethered to the application, and there are many banks to choose from. The app includes a profile section, bank accounts, security settings, and a help section. The help section will lead a user to Circle’s support center.

Trialling the New Cryptocurrency Mobile App 'Circle Invest'
The Circle Invest app needs to be tethered to a bank account listed on the app. (Note there are more banks than shown in our screenshot as the page scrolls down quite a bit for its list of financial service providers.)

Eerily Similar to the Coinbase App, But That’s Probably the Point

Overall the platform was almost indistinguishable from the Coinbase mobile app minus the pastel colors, the Circle logo, and the additional ethereum classic listing. This strategy may be kind of unoriginal but a good idea for Circle if they want to onboard unhappy Coinbase customers or those who are familiar with the San Francisco firm’s services. If Circle can maintain the no commissions promise, and offer the same customer service it had provided in the past, it’s likely the new platform will do well with both cryptocurrency newbs and veterans.  

What do you think about the new Circle Invest app? Let us know what you think in the comments below.


Images via Shutterstock, Jamie Redman, and Circle Invest.  


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Most Forked Coins Are Proving More Hassle Than They’re Worth

Forked Coins Are Proving More Hassle Than They’re Worth

The last month has seen a spate of high profile forks, as zclassic (ZCL), eth classic, and litecoin have all split to create new coins. Each of these has a shared history with its parent chain. In the run-up to the fork, many investors bought in hoping to claim their free dividend, or simply to chase the pump expected to push prices higher. They’ve since discovered that there’s no such thing as a sure thing in crypto, with all three coins dumping ahead of the fork, leaving investors nursing heavy bags.

Also read: Wirex Launching Bitcoin Debit Cards in Europe

Free Coins – But at What Price?

Forks and airdrops are a prevailing trend that has been ramping up ever since bitcoin cash emerged last August. It wasn’t the first coin to have forked, but it proved to be the most successful by some distance. Ever since, developers have been eager to fork existing blockchains for a variety of reasons. Litecoin classic removes LTC’s mining algorithm in favor of a DAG; callisto aims to deliver smart contracts that are more secure than ethereum classic; and zclassic underwent a hybrid fork with bitcoin to create bitcoin private.

Forked Coins Are Proving More Hassle Than They’re Worth

In addition to these forks, NEO recently issued an airdrop of ONT, a new token, to all NEO holders. Next week, monero will fork into monerov (XMV). It’s too early to assess the success of these new arrivals, especially in current market conditions. For what it’s worth, bitcoin private is trading around $65, with more exchanges still to come, and litecoin classic is around $2.20, down from a peak of $5. Time will judge the merits of these coins, but the past will assess the wisdom of having bought into the coins these offerings forked from ahead of their snapshot.

Forked Coins Are Proving More Hassle Than They’re Worth

A Retrospective on Recent Forks

Zclassic, ethereum classic, and NEO have all shown a similar pattern leading up to their respective fork or airdrop. As investors caught wind of the impending fork, they loaded up, causing each of the coins to shoot up by 10-20% on average, and magnitudes more in the case of ZCL. Then, days away from the date of the snapshot, the coin dumped, often significantly. On Thursday March 9, it happened again, to monero this time. The coin had performed well over the previous week, overcoming bearish market conditions to rise in value against BTC.

Forked Coins Are Proving More Hassle Than They’re Worth

Then Bittrex declared that it would not be supporting the monero fork, explaining: “The XMV development team has not contacted us, and it is too late for them to complete our rigorous token review process before the fork on March 14, 2018.” Upon the news, monero dropped by around 15%, despite Bittrex only accounting for 5% of all monero trading volume. For investors who were quick or smart enough to buy into coins such as monero and ZCL ahead of the masses, the dip that’s occurred ahead of the fork is of little concern. Those late to the party can end up in trouble though, and left praying that they can make their money back through receipt of the forked or airdropped coin.

Forked Coins Are Proving More Hassle Than They’re Worth

With monero down $100 from its peak of two days ago, any investors who bought in at the top are essentially banking on the XMV fork trading at $100 a coin to recoup their losses. That seems optimistic. It’s no wonder that wiser heads are either selling their coins ahead of the fork, or not even trying to chase the pump. Once the newly forked coins have been listed on exchanges, there’ll likely be every opportunity to pick them up on the cheap.

Do you think forked coins are a waste of time, or do you they add value? Let us know in the comments section below.


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Nem (XEM), Sirin Labs (SRN), & Ethereum Classic (ETC) Rise to the Top

Nem (XEM)

The cryptocurrency market is still mostly in the red today, in response to a few speed bumps. Yesterday, third-party apps at Binance glitched and started exchanging investor tokens for Viacoin (VIA) without their consent. Russia and the SEC made more strong public stances against cryptocurrency within the last few days further affecting the market. These circumstances have driven down the entire cryptocurrency market but not all coins are seeing losses today.

NEM (XEM)

Source: CoinMarketCap

NEM (XEM) is leading the top 20 cryptocurrencies today, due to Coincheck’s current announcement. Last month, XEM ...

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Retirement Custodian Bitira Offers Insured Multi-Cryptocurrency IRAs

Retirement Custodian Bitira Offers Insured Multi-Cryptocurrency IRAs

The cryptocurrency retirement account firm Bitira has announced the launch of two new features added to its business model, which includes fully-insured cold storage accounts and a variety of new cryptocurrencies such as bitcoin cash, ethereum, and more.

Also Read: Japan’s SBI Holdings Claims 40% Stake in Hardware Wallet Company

Digital Asset Retirement Funds

Retirement Custodian Bitira Offers Insured Multi-Cryptocurrency IRAsBitira is a “self-directed” individual retirement account (IRA) that provides investors control over their digital currency investments, but a custodian handles some of the account administration. Self-directed IRAs require a certified custodian that carries out the investor’s orders. This week Bitira has added insurance to their accounts with a consumer protection policy managed by Lloyd’s of London. Alongside that, digital IRA customers will receive data breach insurance with a Cybersecurity Policy from Hiscox. The company states that cryptocurrency investment funds at Bitira are also kept in cold storage and protected with multi-signature technology.

“All assets held in storage are fully insured through an all-risk policy from Lloyd’s of London, the world’s leading provider of specialized asset insurance,” explains Bitira’s website. “Additionally, assets are protected during the transaction, against any internal cases of fraud or theft, by a second policy from Lloyd’s of London.”

Proprietary Security Precautions and Compliance

Bitira’s digital currency specialist Jay Blaskey says, “Simply put, Bitira is the best and only solution for current and future digital currency IRA investors that want it all – options, low cost, flexibility and the highest level of security,”

Our new set of proprietary security precautions were necessary to facilitate the addition of the most in-demand altcoins within our service. Not only are we able to offer customers the largest variety of cryptocurrencies for placement in an IRA, but we’re also able to provide them with peace of mind that their investments are protected by the market’s most stringent security controls.

In addition to the insurance and the cold storage and multi-signature security solutions, Bitira has added a slew of cryptocurrencies for investors to choose. Bitira accounts now provide bitcoin cash (BCH), ethereum (ETH), ethereum classic (ETC), litecoin (LTC), and ripple (XRP) investments. The retirement company explains the entire custodial process is compliant with the Cryptocurrency Security Standards (CCSS). The standards include globally accepted security practices and methodologies aimed at keeping digital asset investments safe. Bitira is not the only digital currency retirement fund management service in the industry. Bitcoin IRA also offers self-directed BTC, BCH, LTC, XRP, and ETH retirement accounts.   

Retirement Custodian Bitira Offers Insured Multi-Currency IRAs
Bitira’s cryptocurrency choices.

Although the process is not mandatory, Bitira says the company is registered as a Money Services Business with the Financial Crimes Enforcement Network (Fincen) as well. Bitira says that cryptocurrency interest has been trending and individual retirement accounts offer other benefits like tax incentives and educated custodians that help manage your assets.

“Interest in the cryptocurrency market has hit a fever pitch in recent months. There are many factors potential investors must weigh alongside the immense benefits offered by digital currency IRAs, not the least of which are considerations around security,” Andy Klein, Bitira’s director of strategic planning added.  

What do you think about Bitira offering insurance and multiple cryptocurrency retirement investment vehicles? Let us know your thoughts about crypto IRAs in the comments below.


Images via Shutterstock, and Bitira’s website. 


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Grayscale Launches Crypto Investment Trusts for BCH, ETH, XRP, and LTC

Grayscale Launches Crypto Investment Trusts For BCH, ETH, XRP, and LTC

Grayscale Investments has announced the launch of four new single-asset cryptocurrency investment trusts for bitcoin cash, ether, litecoin, and ripple. The company already manages three other single-asset crypto trusts for bitcoin, ethereum classic, and zcash, in addition to a recently-launched crypto large-cap fund.

Also read: Japan’s DMM Bitcoin Exchange Opens for Business With 7 Cryptocurrencies

Grayscale’s Four New Crypto Trusts

Grayscale Launches Crypto Investment Trusts For BCH, ETH, XRP, and LTCGrayscale Investments announced on Tuesday the launch of four new investment products: Bitcoin Cash Investment Trust, Ethereum Investment Trust, Litecoin Investment Trust, and XRP Investment Trust. Michael Sonnenshein, the company’s managing director, commented:

We remain focused on product creation and will continue to launch more single-asset and diversified products to provide exposure where investors are looking for it.

In an interview with Bloomberg, he reiterated that “There will be more offerings coming from the Grayscale family this year,” adding that some will focus on single currencies while others may hold several coins.

Grayscale Launches Crypto Investment Trusts For BCH, ETH, XRP, and LTCEstablished in 2013 by Digital Currency Group, Grayscale Investments had $2.1 billion in assets under management as of February 28. Prior to today’s announcement, the company was already managing three other cryptocurrency trusts: Bitcoin Investment Trust, Ethereum Classic Investment Trust, and Zcash Investment Trust.

Furthermore, Grayscale announced the launch of its Digital Large Cap Fund last month which invests in BTC, ETH, XRP, BCH, and LTC. The company’s founder and CEO, Barry Silbert, commented at the time, “We’re excited to further expand the universe of Grayscale’s product offerings as interest in the digital currency asset class continues to grow.”

Investing in Grayscale’s Crypto Trusts

Each Grayscale trust’s investment objective is for its shares to reflect the value of the cryptocurrency it holds, “as determined by reference to the Tradeblock index for each digital asset at 4:00 p.m. New York time, less each Trust’s expenses and other liabilities,” the company explained.

Grayscale Launches Crypto Investment Trusts For BCH, ETH, XRP, and LTCAccording to Grayscale’s website, each of the four new trusts has an annual fee of 2.5%. At inception, the BCH trust has $6.26 million in asset under management, the ETH trust $30.73 million, the LTC trust $495,519, and the XRP trust $490,487.

These trusts are private placements, available only to accredited investors, as defined by Rule 501(a) of Regulation D of the U.S. Securities Act, Grayscale detailed, adding that they do not currently operate a redemption program.” In accordance with Rule 144 under the same act, the company further noted that:

Each Trust’s shares are subject to a one-year holding period…before they can be resold without restriction.

Do you think many investors will be interested in Grayscale’s new investment trusts? Let us know in the comments section below.


Images courtesy of Shutterstock and Grayscale.


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Crypto Oscars – Who Will Claim the Prize?

Crypto Oscars

The day we’ve all been waiting for – no, not the Oscars – the Crypto Oscars!

It’s the time when all the coins come out, dressed in their ritziest conversion rates and flashing their market cap. The red carpet rolls out, and the crowds swarm in – here they come! Is that Bitcoin stepping out of the limo with Ethereum? But enough gossip, let’s get on with the show!

On Monday, we reported that there would be eight separate categories: four to be calculated today and four to be determined by you, the voters. ...

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An Ethereum Classic Fork Snapshot Is Coming Next Week

An Ethereum Classic Fork Snapshot Is Coming Next Week

Next week the ethereum classic (ETC) community is expecting to receive coins from a ‘snapshot’ fork called ‘callisto’ (CLO). The clone will be an exact copy of the ETC chain up until block 5,500,000 and ETC holders will receive a 1:1 ratio of CLO coins.

Also Read: China Censors Cryptocurrency Ads on Search Engines and Social Media

The First High Profile Hard Fork Is About to Get Forked

An Ethereum Classic Fork Snapshot Is Coming Next WeekThe funny thing about ethereum classic is that it was one of the first high profile blockchain splits and ethereum (ETH) holders received a 1:1 ratio of ETC after the hard fork at block 1,920,000. The fork was caused by members of the Ethereum community because they rejected the idea to ‘bail out’ the DAO, an ETH application that lost $150Mn that year. Some individuals firmly believe that ETC is the ‘one true’ Ethereum network. Callisto, however, is not quite like the ETC hard fork as it’s a snapshot much like bitcoin gold, bitcoin diamond, and the other clones that appeared over the past year.

Callisto Developers Believe CLO Will Have Better Smart Contract Security

Essentially CLO coins will share the same history as the existing ETC chain but from block 5,500,000 and forward the network will be its own. The cloning is expected to happen next week sometime on or after March 2. The reason behind the snapshot is because CLO developers believe there are issues regarding ETC’s smart contract design. According to the CLO white paper ETC is susceptible to smart contract hacks much like the DAO platform. The CLO developers plan to create a “Official Smart-contract Auditing Department of CLO & ETC,” so one could assume the snapshot may be considered an extension of the ETC community.    

“The main goal of callisto is to research and develop a reference implementation of self-sustaining, self-governed, self-funded blockchain ecosystem and development environment,” explains the CLO white paper.  

Callisto aims to establish a secure and contribution-friendly environment for further protocol development and improvements. It will rely on a built-in system of smart-contracts to achieve this goal.

An Ethereum Classic Snapshot Is Coming Next Week
ETC holders will receive a 1:1 ratio of CLO coins after ETC reaches block 5500000.

Cold Staking and a Developer Called Dexaran

There’s little information on the creators of the ETC clone other than the Github page that describes the callisto network project in more detail. The developer working on the project goes by the name Dexaran, and he also has worked on an ICO called ‘DEX.’ Another aspect of the project is the introduction of ‘Cold Staking’ which acts similarly to the Proof of Stake consensus system that rewards currency holders.   

“It should be noted that the ETC does not have any incentives for coin holders — The whole emission is completely controlled by miners, and their influence grows with the growth of the network. Callisto introduces a Cold staking protocol that rewards coin holders for being network participants,” explains the callisto team. 

Cold staking is a smart-contract based process that allows CLO holders to earn interest in a total CLO emission when they hold CLO coins at their balances for long enough period of staking time (1 month by default). Cold stakers are not required to run a node to participate in cold staking process. Cold stakers are not validating transactions and the whole system can remain fully PoW (Proof of Work) which is important since ETC adheres to POW consensys.

The ETC Snapshot Follows the Recent Birth of the Litecoin Cash Network

The upcoming ethereum classic snapshot has boosted the price of ETC quite a bit, and the currency had reached a high of $45 two days ago. It also follows the recent litecoin (LTC) snapshot called litecoin cash (LCC) which came to life on February 20. Before the LCC fork, the price of LTC spiked considerably as well but has since lost those gains. The clone has minimal infrastructure and is only worth 2 percent of LTC’s price at $4-5 per LCC.

What do you think about the upcoming ETC snapshot called callisto? Let us know what you think in the comments below.  


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PR: Vadim Nareyko, CTO PlayHall – Technical Aspects of the PlayHall Platform

PlayHall Gaming Platform

This is a paid press release, which contains forward looking statements, and should be treated as advertising or promotional material. Bitcoin.com does not endorse nor support this product/service. Bitcoin.com is not responsible for or liable for any content, accuracy or quality within the press release.

PlayHall is a blockchain platform for holding regular skill-gaming tournaments and matches between users. In skill-games, your success does not depend on luck but on your skills and intelligence. In matches and tournaments held on the platform gamers will be able to win liquid cryptocurrency, which today can be quickly exchanged for fiat money. All this makes it possible to monetize your time and skills.

Because of the financial dimension of the game, the developers have covered the security issues and possible vulnerabilities in a serious way. The PlayHall team uses blockchain technology and smart contracts as well as the effective decentralization principles to ensure security and reliability of the platform.

The team is launching a demo version of the platform with a limited number of games even before the start of the token sale. Everyone will be able to test the convenience, safety and relevance of the platform.

Platform Decentralization Principles

The PlayHall team uses the principles of decentralization and smart contracts for creating an innovative gaming platform. These principles and the decentralized escrow technology will help to avoid any fraud and forgery of the results of tournaments and matches on the platform.

The full transparency of the platform, its consistency and an easily cryptographically verified software, which provides automation of all processes and transactions in the project ecosystem, guarantee the complete safety of the entire system.

The team’s goal is to eliminate the need for a trusted party or administrator. This will significantly reduce the operational costs of maintaining the system, reducing the commission and increasing the level of payments to gamers. This will also help to eliminate any fraud in the stages of payments to the winners.

Token Types and their Functions

Along with the main PHT, which is an ERC-20 token based on Ethereum Blockchain, the platform provides several types of tokens that will be used by the community members to make decisions by voting. This will provide a virtually perfect meritocratic project management system.

The voting, in which token holders can participate, will address key issues related to business processes and the future vector of project development on the platform: changing the terms of cooperation with game developers and attracting new developers, adding new games on the platform, changing the commission, allocating additional grants to developers, changing voting parameters, developing new functionality and addressing other important issues.

There are eight types of tokens for voting: a common PHT token, a weight token, a time multiplier token, a delegate token, a token committee, game score and games count score tokens and a developer token. Each type of token reflects a user’s membership in a particular community. The proportion of tokens is established depending on the type of voting. Dividing tokens into several groups is necessary in order to take into account the first place the opinion of the holders’ category that has the best knowledge of the subject matter and is directly related to the issue discussed at the current voting.

User Accounts

The user account consists of registration data, optionally including a phone number for additional safety, age verification, consent to the conditions of participation, and a safe multicurrency crypto wallet. The wallet is created and assigned to users automatically after registration. The wallet allows you to transfer PHT tokens and all the cryptocurrencies supported by the platform between PlayHall users, make purchases, sell, exchange and withdraw their assets. In addition to its own tokens, the platform will work with popular currencies: ZCash, Litecoin, Dash, Bitcoin and Bitcoin Cash, Ethereum and Ethereum Classic.

To enhance the security of user accounts on the platform, there will be provided a two-factor authentication, which enables creating white and black lists of IP addresses to prevent unauthorized access to the account, as well as a disabling blocking function that prohibits the withdrawal and transfer of cryptocurrency from all IP addresses except for selected ones.

The platform will become a bridge between the stable game industry and the emerging crypto economy, which will give it an opportunity to reach to a huge target audience. PlayHall is going to become the first blockchain platform, on which users will be able to monetize their time and intellect by earning a popular and liquid cryptocurrency for every victory in a regular match or tournament. By the end of 2019, the principles of decentralization will allow 12 million users to earn cryptocurrency using their intelligence and game skills in any of the 200 exciting skill-based games.

Contact Email Address
info@playhall.com
Supporting Link
https://playhall.io

This is a paid press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release.

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Markets Update: Bitcoin Recovers to Test $10,000 Area

Markets Update: Bitcoin Recovers to Test $10,000 Area

The BTC markets have ramped up to test the $10,000 USD area on leading exchanges following a break above resistance at $9,000. Bitcoin has recovered by more than 60% since testing the $6,000 area on February 6th.

Also Read: Coinbase Develops Bitpay Competitor Supporting BTC, BCH, ETH and LTC

Bitcoin Tests $10,000

Bitcoin has produced bullish action in recent days, forming an inverse head and shoulders pattern on the 4-hourly chart before breaking above resistance at roughly $9,000 area yesterday.

Markets Update: Bitcoin Recovers to Test $10,000 Area

The bearish action of recent weeks saw bitcoin lose approximately 65% of its value – falling from approximately $17,000 at the start of January to the recent low of less than $6,000 on the 6th of February. When compared with the all-time high of approximately $19,700 from December 17th, the drop down to $6,000 comprised a 70% loss in the value of BTC in just seven weeks.

Bullish Recovery Signs for BTC

The recent bullish momentum has seen bitcoin break above the 23.6% retracement area of the crash when measuring from the all-time high area of $19,000 – $20,000. Many traders are anticipating that BTC may soon test the major descending trendline stemming from the all-time high should the markets continue on their bullish trajectory.

Markets Update: Bitcoin Recovers to Test $10,000 Area

When looking at the weekly chart, the stochastic RSI appears poised to retest the 20 threshold after having dropped below such for the first time since mid-2017.

Markets Update: Bitcoin Recovers to Test $10,000 Area

According to Cryptocompare, Japan’s markets are by far the most dominant – with JPY/BTC trade currently comprising over 51% of the total volume of BTC traded globally during the last 24 hours. USD and USDT trade is estimated to represent approximately 37% of global trade combined, followed EUR/BTC trade with just under 5%. The shifting regulatory sands in South Korea have significantly reduced the dominance of the KRW/BTC markets – which presently comprises just 3.5% of BTC traded in the last 24 hours.

Altcoin Markets Correlated to BTC

The dollar-value of most altcoins have shown a strong correlation to BTC in recent months, with nearly every cryptocurrency producing a strong bounce in unison with bitcoin during February.

Among the best performing altcoins boasting a high market capitalization have been Litecoin and Ethereum Classic – both of which appear to have benefited from FOMO leading up to their respective forks, gaining over 100% since early February.

According to Coinmarketcap, bitcoin is currently exerting a market dominance of approximately 35%. Ethereum is second largest cryptocurrency market, boasting a 19.5% market dominance, followed by Ripple with 9.5%, and Bitcoin Cash with almost 5%.

Markets Update: Bitcoin Recovers to Test $10,000 Area

Do you think the bitcoin markets will continue to recover? Share your thoughts in the comments section below!


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New Crypto Exchanges Launch in South Korea Despite Lack of Fiat Deposits

New Crypto Exchanges Launch in South Korea Despite Lack of Fiat Deposits

A number of new cryptocurrency exchanges are launching in South Korea despite being unable to provide full service due to regulatory challenges. Since the Korean government enforced the real-name system on cryptocurrency accounts, banks have only been providing fiat deposit services to the country’s four largest crypto exchanges.

Also read: Japan’s DMM Bitcoin Exchange Opens for Business With 7 Cryptocurrencies

Exchanges Undeterred by Regulations

New Crypto Exchanges Launch in South Korea Despite Lack of Fiat Deposits
South Korean regulator talking about the real-name system.

A number of new cryptocurrency exchanges are opening in South Korea despite regulatory uncertainty and the inability to accept fiat deposits. The challenge comes from the new system, enforced on January 30, which requires cryptocurrency traders to use real-name accounts to deposit money for trading at crypto exchanges.

While six major banks have the ability to service cryptocurrency accounts, they “have been converting only existing virtual accounts to real-name accounts for four large cryptocurrency exchanges” – Bithumb, Upbit, Coinone, and Korbit. The Investor elaborated:

The banks have also been refusing to issue new real-name accounts for other cryptocurrency exchanges, citing uncertainties and security concerns.

Zeniex

New Crypto Exchanges Launch in South Korea Despite Lack of Fiat Deposit ServiceNew crypto exchange Zeniex announced last week that it will begin service on February 12. The company explained that its launch “has been delayed by a month due to the latest regulations designed by the Korean government to cool the overheated cryptocurrency market,” the news outlet reported. Initially, the exchange will support bitcoin, bitcoin cash, ether, ethereum classic, litecoin, quantum, eos, bytom, and 0x.

Zeniex CEO Choi Kyung-joon was quoted detailing:

It’s currently difficult to provide our complete services due to delays in issuing real-name bank accounts for trading…Despite these circumstances, we have decided to go ahead with the launch to service our customers who have been waiting for our opening.

With the bank account problem, traders “can only buy and sell cryptocurrencies with bitcoins because major banks are putting off confirming and issuing real-name bank accounts,” the publication added.

Dexko

New Crypto Exchanges Launch in South Korea Despite Lack of Fiat Deposit ServiceAnother crypto exchange named Dexko announced on Friday that it will start accepting pre-registration of users with the aim to launch its cryptocurrency exchange on March 15, the Investor also reported. Initially, the exchange will support 10 cryptocurrencies including bitcoin, ether, bitcoin cash, litecoin, and ripple. Pre-registration runs from February 5 to 25, according to the company’s website.

The firm will exempt trading fees for a month for pre-registered users at launch, the news outlet detailed. Kim Yong-ho, the CEO of Korea Digital Exchange which operates the exchange, commented:

We worked hard to remove defects and minimize customer inconvenience by conducting in-depth analysis on other exchanges…Dexko has completed all the legal and systematic requirements and is preparing to introduce won-based trading soon.

Chinese Exchanges

Two Chinese exchanges are also planning to enter the South Korean market. Earlier this month, Okcoin reportedly reached a final investment agreement with South Korean game company NHN Entertainment Corp, which was previously part of Naver. “Under the agreement, Okcoin will provide its own trading system and NHN Entertainment will operate a domestic server and respond to customers,” Business Korea described. The company plans to trade more than 60 cryptocurrencies against the Korean won.

Huobi is also planning to enter the Korean market in the first quarter of this year, the publication noted. Before the Chinese government closed down all cryptocurrency trading last year, the two exchanges were among the very largest in the world as measured by volume.

What do you think of these new crypto exchanges launching in Korea? Let us know in the comments section below.


Images courtesy of Shutterstock, IHS, Zeniex, and Dexko.


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Over 1 Million People in Line for Robinhood’s Bitcoin Trading App

Over 1 Million People in Line for Robinhood's Bitcoin Trading App

Young Americans are signing up in droves to a new cryptocurrency trading service, showing the massive unmet demand in the market for more bitcoin trading venues. Cryptocurrencies are coming soon to the Robinhood platform and traders appear to be following them in anticipation.

Also Read: Vegetables on a Blockchain ICO Exit Scams After Paying People to Write On Their Bodies

Robinhood Hits the Bullseye

Over 1 Million People in Line for Robinhood's Bitcoin Trading AppOver a million people are already waiting in line to get early access to bitcoin and cryptocurrencies trading service by Robinhood Markets, according to its launch website. The Palo Alto-headquartered US stocks brokerage app has just announced the upcoming service a few days ago.

To put things in perspective, Robinhood has an estimated user base of only about 3 million people, which means it could grow by as much as 33% by adding cryptocurrency trading or that a third of its clientele will switch to bitcoin. Of course this will not happen immediately as the company will only start rolling out the service in February to a limited number of American states.

The service will initially begin with commission-free BTC and ETH trading in California, Massachusetts, Missouri, Montana, and New Hampshire. It already offers market data on 16 cryptocurrencies in the form of bitcoin, ethereum, bitcoin cash, litecoin, ripple, ethereum classic, zcash, monero, dash, stellar, qtum, bitcoin gold, omisego, neo, lisk and dogecoin.

Stealing Users from the Rich

Over 1 Million People in Line for Robinhood's Bitcoin Trading AppWhen it was launched in 2013 with financial backing from Google Ventures, Andreessen Horowitz and other, many analysts saw Robinhood as an early attack by Silicon Valley against Wall Street. It was speculated to be a precursor of a larger assault by tech giants against the entrenched stock brokerages, which largely didn’t materialize. Now it could be bringing disruption to a whole new industry – cryptocurency exchanges.

The major trading venues in the bitcoin world have been suffering from an inability to handle the influx of new customers throughout the 2017 rally, leading to withdrawal delays, degenerated services and a lot of frustrated clients. At the same time the exchanges kept raking in incredible profits, with Coinbase alone reportedly making a billion dollars in revenue during the period. It would be fair to say the market is set for disruption, but it remains to be seen whether Robinhood, a company which isn’t famed for great customer service, is the one to achieve this.

Are you waiting in line to trade bitcoin with Robinhood or sticking with an exchange? Tell us what you think in the comments section below.


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