Daily, May 24, ’18

Daily, May 24, ’18

Coinbase, GDAX, Paradex, Bitcoin Gold, CFTC, India, Argentina, SWIFT

  • The largest American cryptocurrency company Coinbase announced the rebranding of the GDAX platform, as well as the purchase of a decentralized exchange Paradex.
  • The GDAX platform will now be called Coinbase Pro and will focus primarily on individual crypto-investors.
  • The Bitcoin Gold network underwent a double effective cyber attack, losing $18.6 million. Edward Iskra, Director of Communications, acknowledged the fact of the attack and explained that the miner conducted the attack.
  • The US Department of Justice together with the Commodity Futures Trading Commission (CFTC) initiated an investigation to determine the possibility of manipulating the exchange rate by cryptocurrency investors. It is designed to identify illegal practices that can be used to manipulate courses of cryptocurrency.
  • India introduces an 18% tax on operations with the cryptocurrency. At the moment, this initiative is being considered by the Central Council for Indirect Taxes and Customs.
  • Jose Dakak, the main shareholder of the Argentinean bank Banco Masventas, said that the bank could leave from the global financial network SWIFT to begin using the blockchain of bitcoin to settle international payments.

BTC

8,744 USD
-1.93%

ETH

272.72 USD
-1.17%

XRP

0.4543 USD
-1.02%

BTG

24.31 USD
-3.16%

Related news

Retail interest in Bitcoin plateaus as BTC price stagnates

Bitcoin has been facing steep selling pressure over the past 24-hours that has marked an extension of that which was first incurred when it broke below $9,000 earlier this month — a previous support level that BTC bulls had been ardently defending. This recent downtrend has led retail interest in Bitcoin to plateau, as data surrounding exchange deposits and inflows points to the fact that investors presently have little interest in the cryptocurrency. Bitcoin’s price faces turbulence amidst market-wide sell-off  At the time of writing, Bitcoin is currently trading up marginally at its current price of $8,530, which marks a steep drop from its weekly highs of just over $9,000 that was set last Sunday. In spite of this recent drop, it is important to note that BTC is still trading well above its 30-day lows of $7,300 that was set in late-October, just prior to the meteoric rally that sent its price surging to highs of $10,600. In the near-term, it does appear that the lower-$8,000 region is a strong level of support that will bolster BTC’s price action in the coming hours and days. Are retail investors losing interest in BTC? The inability for Bitcoin’s bulls to garner any significant upward momentum may point to the possibility that further losses are in store for the cryptocurrency in the near-term, which is further supported by the fact that inflows of capital to crypto exchanges have been declining, elucidating dwindling interest in the markets from retail investors. Glassnode, a group focused on blockchain analytics, spoke about this data in a recent tweet, concluding that it signals a “low trading appetite” amongst investors. “$BTC exchange deposits and inflows have continued to decline over the last week, indicating low trading appetite from investors,” they noted while referencing the chart seen below. 2/ $BTC exchange deposits and inflows have continued to decline over the last week, indicating low trading appetite from investors. pic.twitter.com/5zqJgR1UBQ — glassnode (@glassnode) November 15, 2019 Assuming that this trend extends into the future, the ongoing decline in interest amongst investors may translate into lower trading volume, making BTC increasingly prone to facing further downside. The post Retail interest in Bitcoin plateaus as BTC price stagnates appeared first on CryptoSlate.
Cryptoslate

Bitcoin Traders Are Finding Creative Ways to Avoid KYC

Cryptocurrency traders on Bisq are using Revolut to buy and sell bitcoin without the need for KYC/AML. The decentralized, peer-to-peer marketplace allows anyone to buy or sell cryptocurrency via a range of payment processors and traditional banking services. With Localbitcoins now a twisted nightmare of KYC, privacy-conscious traders have few platforms to which they can turn. But in Bisq, they appear to have found a solution of sorts. Also read: The Bank of Google Wants Your Spending Data Trading Bitcoin Without the Awkward Questions Unlike services such as Localbitcoins or buy.Bitcoin.com which work in-browser, Bisq requires users to first download the application before buying and selling crypto, with Windows, Mac and Linux systems all supported. A popular method of purchasing BTC on Bisq (formerly Bitsquare) is with Revolut, with many users opting for the virtual banking service on account of its speed and convenience. Although quick and easy at the initial point of use, there are potential pitfalls to relying on Revolut. As early as last year, Bisq issued a warning regarding the service and its suitability for avoiding unwanted attention. As the Bisq twitter account stated: “Payment methods based on traditional finance systems are going to require KYC at some level, sooner or later. Revolut is not special in this regard.” It’s not just KYC/AML which poses problems either: a number of users have complained that after repeated transactions on Bisq, Revolut has suspended their accounts, leading to weeks of uncertainty and added complications. Revolut itself, it should be noted, requires KYC in order to obtain an account, and is not an anonymous or pseudonymous service. most obvious with revolut, there are countless reports of accounts being blocked following a bisq transaction. Our guess is the messages in the transactions doesn't seem normal (who would send some random string as a message?) and some accounts take weeks to get unblocked — nodl (@nodl_it) March 27, 2019 A Little Privacy Please Since the onboarding process at centralized exchanges and the obligatory intrusion of KYC remains a bone of contention for many, bitcoiners continue to seek out dependable decentralized alternatives. The development team behind Bisq describe it as “pure P2P infrastructure” built on the Tor network and using local wallets with no custodial accounts. Bisq does not require the user to provide a name, email ID, or verification, so it ticks all the boxes for anyone who takes their privacy seriously. The decentralized exchange also offers a large number of fiat currencies with which users can onboard including the US dollar, Canadian dollar, Australian dollar, Euro, British pound and Russian rouble. That said, for all its benefits, there are still limitations to using the decentralized exchange, including higher spot prices, which means the platform won’t suit everyone. Perhaps one of the bigger issues at this time is liquidity, although Bisq is hardly the only decentralized exchange that has struggled in this regard. Trade volumes remain relatively low and the amount of bitcoin a new user can purchase is initially limited to just 0.01 BTC. This increases over time, with accounts maturing after 60 days, but some payment methods retain restrictions in any case. Bank-based payments are limited to 0.25 BTC for instance, while Perfectmoney and Alipay allow purchases of 1 BTC. It’s clear that Bisq are extremely safety conscious and mistrust many of the most popular fiat payment processors, especially those that offer chargeback facilities. Part of their efforts to mitigate ongoing risks include a deposit and arbitration system which adds another layer of security for traders. Options for traders who have tired of Localbitcoins.com and its kowtowing to onerous compliance regulations are thin on the ground, but there is an outlet for bitcoin cash proponents. Local.Bitcoin.com enables anonymous P2P transactions, providing a private way to buy and sell bitcoin cash. Between it and Bisq, there is at least a mechanism for exercising one’s right to purchase cryptocurrency without enduring the data-breach-waiting-to-happen that is KYC. What other pro-privacy exchanges do you recommend? Let us know in the comments section below. Images courtesy of Shutterstock. Did you know you can verify any unconfirmed Bitcoin transaction with our Bitcoin Block Explorer tool? Simply complete a Bitcoin address search to view it on the blockchain. Plus, visit our Bitcoin Charts to see what’s happening in the industry. The post Bitcoin Traders Are Finding Creative Ways to Avoid KYC appeared first on Bitcoin News.
Bitcoin News

17 November 2019 BTC/USD – 15 minute

In this 15-minute chart of Bitcoin/ United States dollar (BTC/USD), there is a depreciating range from 8773.22 to 8361.00. There is also an appreciating range...
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