Market Cap $ 833.216 MM (#17)
24h Volume $ 4.899 MM
Chg. 24h: -1.34%
Algo. score 4.4/5  (#9)
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NEM News

Cryptaur (CPT) to be Listed on CoinBene, one of Asia’s Largest Cryptocurrency Exchanges

CoinSpeaker Cryptaur (CPT) to be Listed on CoinBene, one of Asia’s Largest Cryptocurrency Exchanges CoinBene, which is based in Singapore, is one of Asia’s largest cryptocurrency exchange platforms. It is also one of the newer exchange platforms which supports an extensive list of cryptocurrencies, featuring USDT, ETH and BTC. This makes CoinBene an ideal platform for Cryptaur’s “pairs” offering, and leaves it well-poised to achieve its goal of removing the middleman, thereby allowing for total decentralization and demarketization. Dmitry Buriak, CEO and Founder of Cryptaur stated: “For us, adding Coinbene to our portfolio of online exchanges was an absolute must. With the assets we have and the robust platform we’ve created, we are sure that Coinbene traders will enjoy the versatility and ease of use that comes with being a Cryptaur investor.” A Prominent News Presence Cryptaur’s current number of CPT wallet users now stands at a minimum of 90,000 active users and this is indicative of an engaged crypto community. Having announced its partnership with ProximaX and NEM a few days ago, Cryptaur has also enjoyed other recent successes. Last month it announced that it is being recognized as an industry leader via CCN, ABMCrypto and Global Coin Report. Some other strides in Cryptaur’s growth and realization of its 2018 goals have been the launch of debit cards and the launch of the automatic Know Your Customer (KYC) at Fintech United Group. Additionally there is the lottery, gaming platform, the LifeWise Marketplace, Go ICO platform which is already in partnership with Kasko2go, Proverand Equineum. Multiple Offerings The announcement also comes amid a flurry of activity on the Cryptaur ecosystem. The company recently announced multiple dApps for users in the coming months, including titles like the X Game, which allows users to breed virtual avatars using real-world genetics, as well as Agehack and Cryolifebank, Cryptaur also possesses an animation platform called “Cryptoons” and a peer-to-peer microlending service using CPT. According to Buriak: “Once again this shows that there is no limit to what Cryptaur can do. Thus far 2018 has been a great year for us and there is no doubt whatsoever that things will just continue to get bigger and better for us and all of our stakeholders. Cryptaur is a force to reckon with. We are here to stay and to the middlemen out there, you are on your way out! We said we would do it and now we are showing you how we are doing it.” About Cryptaur Founded in 2017, Cyprus-based Cryptaur increases efficiency by eliminating the middleman from a wide range of social and financial transactions. The project’s blockchain-based decentralized ecosystem supports peer-to-peer transactions, pay platforms, online gaming, and more. Cryptaur (CPT) to be Listed on CoinBene, one of Asia’s Largest Cryptocurrency Exchanges

12 hours ago

Lessons Learned from the Biggest Crypto Hacks in History

As you may know, the cryptocurrency industry is extensively targeted by hackers. Unfortunately, attackers have been quite successful in this space with plenty of high-profile attacks targeting crypto services. In just the first half of 2018, $1.1 billion worth of cryptocurrency was stolen from victims. These hacks painted a gloomy picture of the security of blockchain-related services, and some had a huge impact on the whole industry. Let’s review the most significant breaches and then see what we’ve learned from those hacks. Coincheck - $532 million January 26, 2018, the Japanese cryptocurrency exchange Coincheck froze all withdrawals on its platform. At first, the company published a blog post stating that they had stopped all NEM deposits: “Depositing NEM on Coincheck is currently being restricted. Deposits made to your account will not be reflected in your balance, and we advise all users to refrain from making deposits until the restriction has been lifted,” Coincheck announced. However, soon after that, the cryptocurrency exchange extended the freeze to NEM sales and purchases, as well as all withdrawals - including crypto and fiat pairs. It turned out that the reason for the suspension of withdrawals on the exchange was due to a hack, which resulted in the loss of $534 million worth of NEM. This attack is still considered the largest heist in the crypto industry. In a press conference hosted soon after the hack, Coincheck provided the details of the attack, stating that the attackers succeeded because the stolen NEM was stored in a hot wallet. The hackers managed to steal the private keys for the wallet, successfully draining the funds into their own wallets. Mt.Gox - $473 million For crypto enthusiasts, this is the story you’ll tell your kids when you are teaching them how not to store their funds. The Mt.Gox hack - which took place in early 2014 - had by far the largest impact of all the attacks listed here as the market was much smaller then. At the time Mt.Gox was the number one cryptocurrency exchange, handling over 70% of Bitcoin transactions. On February 7, 2014, the cryptocurrency exchange temporarily stopped all BTC withdrawals, which was extended to all trading activities on February 24. After that, the website went offline. Mt.Gox took these steps due to a hack, which resulted in the loss of the customers’ 744,408 Bitcoins as well as 100,000 BTC belonging to the company. At the time, the total amount the hackers stole was valued at approximately $473. As of November 1, 2018, despite it having been a bear market since early this year, the total BTC stolen from Mt.Gox is worth over $5 billion. Due to this unfortunate hack, the cryptocurrency exchange declared bankruptcy on February 28, 2014. It was found that the reason the attackers succeeded was that the exchange stored most of the cryptocurrency that was stolen in a web-based hot wallet, which had a vulnerability that the hackers took advantage of. BitGrail - $195 million In February 2018, the Italian cryptocurrency exchange BitGrail announced that it had been hacked, losing approximately $195 million worth of Nano, the cryptocurrency formerly known as RaiBlocks. Nano could be considered as one of the most unfortunate cryptocurrencies of all time, as it had increased its value from $0.2 to roughly $10 surviving even in early 2018’s bear market. But the hack has affected the crypto badly as approximately 17 million of the coin were stolen from BitGrail. As of November 1, 2018, Nano’s price stands at nearly $2. In a blog post on the company’s website, BitGrail stated that their internal checks revealed that the 17 million Nano was stolen from wallets managed by the cryptocurrency exchange. On the same day the company discovered the loss, they reported the incident to the authorities, the statement said. Despite the fact that the cryptocurrency was stolen from the Italian exchange’s wallets, the company has started to blame the Nano development team for the incident. “[BitGrail is] pressing charges against you due to your irresponsible behavior,” Francesco Firano, the owner of BitGrail stated. According to Mr. Firano, due to the non-collaboration of the Nano dev team, his company was unable to recover the lost funds. On the other hand, according to a Medium post from the Nano team, BitGrail offered a controversial solution to recover the $195 million of stolen funds. The team stated that Mr. Firano suggested an option, in which the ledger of transactions had to be modified. Nano devs stated that this is an action that is not possible, and not a direction they wanted to pursue. We still don’t know for sure who was responsible for the incident, although there is currently a court case between Nano and BitGrail. Bitfinex - $72 million In August 2016, nearly $72 million worth of BTC (almost 120,000 Bitcoins) was stolen from Bitfinex. Due to the magnitude of the attack and the fact that Bitfinex did not publish the details of their internal inve

2 days ago

Malaysia's Education Ministry Implements a Blockchain Based University Degree Verification System

The Ministry of Education (MoE) in Malaysia is implementing a blockchain-based University Consortium to fight against fraud. The system will issue and verify the authenticity of all university-issued degrees and the government-supported consortium will be comprised of six public universities. The diploma-verifying system will be built upon NEM (XEM) blockchain and the system ultimately serves to preserve the integrity and reputation of Malaysian universities. (RS)

2 days ago

Malaysian Government, Universities Team to Put Degrees on a Blockchain

Malaysia's education ministry has formed a new consortium of universities to issue and verify degrees on the NEM blockchain.

2 days ago

Confira os últimos movimentos. Análise do TradingView.

Por: Livecoins Confira os estudos nas maiores criptomoedas pelo Market Cap, e suas projeções para próximos movimentos. Bitcoin / Dólar Americano O grafico Bitcoin fez um rompimento do triângulo (fuga de alta) ontem (04/11/2018) e pode conseguir avançar ainda mais, pois os “Touros” conseguiram uma vantagem, mas precisam empurrar e fazer com que o BTC tenha aceitação acima da resistência da EMA 50 de US$6.450 e esse objetivo parece plausível, já que o rompimento do triângulo foi apoiado pelo MACD onde conseguiu um cruzamento de alta sobre a (divergência da MA). Bitcoin / Dólar Tether Provavelmente o Bitcoin já chegará na data da divulgação precificado (BAKKT). Por isso estudei as tendências mais recentes e encontrei as 3 LTA’s Azuis paralelas, que podemos seguir novamente nessa retomada de alta. Além dela, também temos o canal de alta verde iniciado em Junho, que também pode ser considerada uma tendência relativamente confiável e a LTA do fundo do canal demonstrou sua importância mais uma vez nos últimos dias. Seguindo ambas tendências e a data de divulgação, podemos ver que se encontram na resistência por volta dos 7100 dólares! Mas para isso precisaremos passar pela LTB vermelha de longo prazo e da resistência dos 6750 dólares, que podem ser consideradas bem fortes! Bitcoin Cash / Dólar Americano Forte alta no BCH, uma reação que rendeu mais de 50% para quem comprou no extremo fundo da range. Agora, o que pode acontecer? Primeiro, vamos aguardar o preço fechar hoje rejeitando romper a resistência de US$650. Se isso acontecer, temos dois preços de potencial retração para essa alta em US$550 e US$500, pode-se esperar um pivot nesse nível o que será sinal de compra para um potencial rompimento da resistência em US$650. Da para acreditar que vamos segurar nesse preço, pois o preço moveu fortemente acima das nuvens, se manter será muito positivo para compra. Se o preço não segurar nesse níveis vamos descer novamente próximo ao fundo da range nos 400 dólares. Litecoin / Dólar Americano Nossa queria “prata”, o Litecoin, já concluiu seu quarto toque no suporte em 50 dólares, reafirmando que sim, essa é o nível de suporte e de interesse comprador mais forte. Em contra partida, temos uma breve LTB que nos últimos 60 dias veio afunilando o preço contra o suporte. Estaríamos próximos de um rompimento e alta? Talvez, dependemos muito do BTC, ainda não demonstrando interesse altista... Mas eu tenho uma teoria muito doida que fala que as altcoins normalmente preveem um ou dois dias antes a subida do BTC, por começarem a valorizarem 2~5% ao’ dia’ sem’ influencia de noticias. Continuo observando, o preço deve romper a resistência em 60 dólares caso rompa a LTB vermelha. Podemos até testar 90 dólares, mas isso necessitará de um tempo e muita vontade compradora. Ripple / Dólar Americano Alguns rumores de que o XRP será utilizado por bancos e para facilitar transações comerciais rápidas estão fazendo com que o XRP ganhe força neste início de novembro, justamente a época em que tem ocorrido os grandes rallys de criptomoedas. Interessante o rally começar com o XRP, e não com o Bitcoin. Esta alta pode até ser um Pump artificial, mas está resistindo bem. De acordo com a força da subida, eu estimo que seu valor vá retrair até 0,52 para voltar a subir novamente. Disclaimer: Análises aqui são apenas estudos. Não são recomendações de investimento, nem de compra nem de venda. Tampouco refletem a opinião do veículo de mídia no qual estão sendo vinculadas. São estudos direcionados a pessoas com conhecimento e experiência no mercado. Se você não tem experiência, não opere. E se tiver experiência, não opere também. Nossos Autores: Coinder Trade - É DayTrader de criptomoedas. Acompanhe suas análises no TradingView. Thales Inada - É o Bonsai Trades, analista focado em Criptomoedas. Acompanhe suas análises no TradingView. Gabriel Fauth - Especulador de mercados internacionais, estudante de análise técnica pelo Veja analise BCH e LTC. Efonseca - É analista de Criptoativos. Confira suas análises no TradingView. O artigo Confira os últimos movimentos. Análise do TradingView. apareceu primeiro em Livecoins.

3 days ago

Stellar Lumens [XLM] fails to perform in the market post Blockchain announcement

Stellar Lumens [XLM], the sixth biggest cryptocurrency in the market, enjoyed the bull run which took place earlier this week. The coin made an uproar in the cryptoverse with Blockchain’s announcement on their official portal which stated that they would airdrop $125 million XLM. This announcement set the market ablaze as it turns out to be the biggest giveaway to be taking place in the cryptocurrency space. The giveaway is a celebration for adding XLM on Blockchain wallet, which was initially a Bitcoin concentric wallet. Blockchain has promised to giveaway over $25 worth of XLM to all the users with verified accounts. The platform stated that the Stellar network is “built for scalability”. The coin allows for quick, low-cost and worldwide transactions, which is one of the main reason for listing the coin on their wallet. The wallet supports a total of four cryptocurrencies, including Bitcoin [BTC], Bitcoin Cash [BCH], Ethereum [ETH] and the recently added, Stellar Lumens [XLM]. Peter Smith, the CEO and co-founder of Blockchain said on Twitter: “Excited to add #XLM to the @blockchain wallet today and announce a $125M airdrop - the biggest digital giveaway ever. We’ll be giving millions of people their first $20 of crypto over the next few months” He further said: “We’re excited to help the @StellarOrg build an ecosystem, alongside their other partners inclu @stripe and @IBM, by bringing millions of users onto the Stellar network.” The announcement resulted in the coin gaining a momentum in the market, however, it failed to have a massive impact on its price. According to CoinMarketCap, XLM was trading at $0.25 with a market cap of more than $4 billion. The trade volume of the coin was over $74 million and had seen a downfall of around 3% in the past 24 hours. Stellar Lumens [XLM] Price Chart | Source: CoinMarketCapAdditionally, according to reports by CoinGekco, Stellar Lumens turned out to the second biggest platform for ICOs with over 6% market share, after Ethereum. Stellar was followed by NEO, NEM, Achain, Waves, EOS, Zilliqa, Komodo, and Hyperledger. Drive Markets stated on Twitter: “Over 85% of ICOs are issued on Ethereum according to @coingecko and Stellar is in second place with 6% market share” Stellar Lumens ICO market share | Source: CoinGecko DU09, a Redditor said: “Not surprised, XLM is second after ETH, unlikely this will change as ETH loses market share. The other competitors are not like XLM, rather an improved version of ETH or BTC, so they won’t scale as easy. Only challenge for XLM is to expand it’s ecosystem and adoption from large investors that so far go for ETH as that already dominates the market and existing infrastructure.” The post Stellar Lumens [XLM] fails to perform in the market post Blockchain announcement appeared first on AMBCrypto.

3 days ago

Crypto Rally Hopes Quashed as Markets Dump Again

FOMO Moments The bears are back in play; Dash surviving the dump, Bitcoin Cash, Cardano, VeChain sliding. Rally anticipations have been quashed once again as markets are dumping. Just when a glimmer of hope started to shine in crypto land, the bears come back out and defecate all over it. Total crypto market cap has shed $4 billion in the past four hours, dropping back to around $215 billion. Bitcoin is currently holding its place with only a minor dip back below $6,500. It is currently trading at $6,480 but further losses may be imminent if the bearish pressure is sustained. As quick as it climbed over the past few days, Ethereum has fallen. ETH is currently down 2% back to $214 as it failed twice to break resistance at $220. Altcoins are suffering today, all red and wiping out gains made since the weekend. In the top ten Bitcoin Cash is falling fastest with a 5% slide to $586. Not far behind BCH are Litecoin and Cardano both losing 4% on the day. The rest in this group are down 2-4 percent since the same time yesterday. Only Dash is staying buoyant in the top twenty with a 3% climb to $173 while around it is a sea of red. Iota and VeChain are losing the most at around 4%, Tron and Nem not far behind. Getting a good dose of fomo in the top one hundred today is WAX and Polymath, both climbing around 7% on the day. BAT is also still trading strongly, up 6% following its addition to the Coinbase Pro exchange at the weekend. The big dumps are not that devastating at the moment with only two altcoins losing more than five percent; Electroneum and Bitcoin Cash. The entire table is predominantly red at the moment as markets suffer another attack of the bears. Total crypto market capitalization has fallen 1.8% on the day resulting in a $4 billion loss to $216 billion. This could be a natural correction from a bullish four days as traders take short term profits. Markets are still up 4% on the week and the trend is still rising providing there are no further losses. They have returned to the same level total market cap was at this time last month, the consolidation continues. FOMO Moments is a section that takes a daily look at the top 20 altcoins during the current trading session and analyses the best performing ones, looking for trends and possible fundamentals. The post Crypto Rally Hopes Quashed as Markets Dump Again appeared first on NewsBTC.

4 days ago

Roger Ver Headlines Blockchain Life, Russia's Biggest Crypto Mining Conference

The Blockchain Life 2018 conference is currently unfolding in St. Petersburg, Russia. The event, which will conclude on Nov. 8, is marketed as the “biggest international forum on blockchain, cryptocurrency, and mining in Russia and Eastern Europe.” More than 5,000 participants are expected. The event is designed to teach participants how to make money in the crypto and blockchain space. Speakers include’s Roger Ver as well as representatives from Bitcoin Gold, NEM Russia, Lisk and more in addition to leading cryptocurrency traders and miners. Ver's presentation topic is: "How will crypto change the world?" (GT)

4 days ago

Giacomo Zucco Exclusive Interview (Complete and Uncut)

In his exclusive interview with Crypto Insider’s Vlad Costea, Italian Bitcoin maximalist Giacomo Zucco has been very talkative and open about his beliefs. He took his time to explain his vision for The B Foundation, he provided precious details about his personal definition of Bitcoin maximalism, and was even kind enough to rank the top 20 cryptocurrency projects on CoinMarketCap. In between, Mr. Zucco has also expressed his view on the cryptocurrency community at large and how the libertarian ideals were never dissolved by greed. The interview itself is 97 minutes long and does exactly what Giacomo Zucco suggests: it lays down the ideas that he never seems to find the time to write down in articles. It’s a collection of fascinating opinions on the current state of the cryptocurrency market and community, and it’s very likely that some moments will become a point of reference in the future. Enjoy watching this charismatic Italian deliver an entire marathon of arguments for Bitcoin maximalism! Attached you will find a complete transcript: Vlad: Hello this is Vlad and welcome to the Interview of Crypto Insider! Today I’m going to be talking with Giacomo Zucco who is a well known Bitcoin maximalist and one of the few people who embraced the label of being a maximalist despite all the bad meanings that it might have. And that’s something that we’ll be discussing today, so hello Giacomo! Giacomo Zucco: Hi everybody! We’re not so few, I mean there are a lot of people that are self labelling maximalist but, yeah. Vlad: It seems to me like a derogatory term on Twitter, and some people appropriate the idea and say “you know I’m also a maximalist but at the same time I also believe in Monero or in Litecoin or whatever”. And I remember the last episode of Magical Crypto Friends which is with Charlie Lee and Fluffy Pony, Whale Panda, and Samson Mow, and at some point they all said “you know we are all bitcoin maximalists in the sense that we want bitcoin to succeed and we want it to be the best coin but we don’t want it to be the only one, or not necessarily”. So do you think there are layers to being a maximalist? Giacomo Zucco: There certainly are because the term itself was created in a derogatory form from Vitalik Buterin and others in order to represent these approaches as wrong. So it was some kind of blockchain slang and some of us adopted that in order to diffuse their rhetorical attempt. So now everybody is using the term in different ways. I tried to give a presentation about a very very scary street definition of maximalist with a lot of bad connotation in order to try to prove that even that very very scary cult like definition of maximalist is actually very very close to what a cautious approach would be to this ecosystem. So yeah there are Fluffy Pony and Charlie Lee are people who are contributing somehow to bitcoin so in a way I would say they are defintiely bitcoiners. I tend to use the term maximalist in order to imply that I really do not think that altcoins can succeed in general. So while I’m not sure that Bitcoin will succeed, I’m kind of sure, as sure as I am as other things like that small private internet that you create in your garage is not going to take over the internet very very soon. In that same way I’m sure that altcoins cannot be sustainable and deliver what they promise. While bitcoin could very well fail itself. From a destitute point of view, I am like a fifth morning maximalistmeaning that I recognize right now that the USD unfortunately is the kind of money that people is using. It sucks because it’s manipulated and inflated and difficult to transmit over the internet without third parties and third parties can sensor you and spy on you and track you they can enforce KYC/AML mafias. So it’s a bad situation but that’s the reality. Bitcoin could, maybe overthrow that. I hope that it will. And I think there are very very good chances it will. While altcoins by definition I think they cannot succeed. Vlad: I remembered last week I had an interview with Jimmy Song and he had a controversial statement that it’s a good idea to spend with you credit card and then pay with bitcoin that you have. Do you think that up to this point it’s a better idea to actually use fiat for your purchases and save your bitcoin just for emergency spending? Giacomo Zucco: Yea I completely agree. Actually in the presentation of Riga about maximalism I included also this part. So I argued these points in a satirical and sarcastic way but also serious in a way with some nuances, I argued first my position about altcoins and that they cannot succeed. Basically, altcoins are a scam in very loose definition of the term for some, and a very strict definition of the term for others. The second point was that any important change to the base rules of bitcoin is also something that we should reject and we should basically not accept. And the third point was about spending. I simplified version of wh

4 days ago

Crypto Arbitrage Today: USDT, TUSD, ZEC, TRX , XEM, ETC

Cryptocurrency arbitrage trading opportunities will always become apparent when a new day comes around. It is evident there are many different ways to make money with cryptocurrency, even if markets are not noting any real gains or losses. The following six coins are worth checking out in this department, as there is some decent money to be made. ZCash (YoBit / HitBTC / Bittrex) There are many different arbitrage opportunities where ZCash is concerned. Most exchanges have a lower price compared to YoBit, which allows for a quick and easy profit. Buying on HitBTC,, CEX, Bittrex, or Bitfinex and selling on YoBit will result in profits of up to 1.8%. A more than healthy gain for doing little work, depending on overall liquidity across the different exchanges. TrueUSD (VeBitcoin / Binance) It has not been an easy time for stablecoins to do what they are designed to do: maintaining a peg to the US Dollar. In the case of TrueUSD, the value on Vebitcoin is slightly below that on Binance, which makes for some interesting opportunities. There isn’t a ton of liquidity at these prices on Vebitcoin, but the early bird can still get the worm. Ethereum Classic (Gate / Binance/ YoBit) Buying any cryptocurrency on an exchange that isn’t YoBit and selling it on YoBit seems to result in profits these days. For those looking to trade Ethereum Classic, buying on Gate, Koineks, Binance, KuCoin, or Poloniex will allow for some easy profits. Gains of 2% should be achievable without too many problems. XEM (Koineks / Livecoin / YoBit) Despite a rather tough year for XEM, it seems the altcoin is still in demand and can effectively lead to some arbitrage profits. Buying XEM on either Koineks or Livecoin and selling on YoBit can result in a profit of 5%. That is a lot of good money waiting to be made for doing virtually nothing at all, assuming there is sufficient liquidity. TRON (HitBTC / Bitfinex / OKEx) Numerous exchanges offer TRX trading, albeit often at slightly different prices. As of right now, there is a good chance buying TRON on HitBTC, Gate, Koineks, Bitfinex, Binance, or OKEx will allow users to score a quick 1% profit by flipping TRX on YoBit. A very peculiar option, primarily because the potential profit is nearly identical for buying on any of the listed exchanges. USDT (KuCoin / Bittrex / BtcTurk) It is somewhat unusual to see stablecoins offer arbitrage opportunities in Turkey. For the time being, buying USDT on BtcTurk, Koineks, Sistemkoin, or even Bittrex and selling it on KuCoin will result in profits of up to 1.7%. That is quite good money to be made from one of the most liquid stablecoin pairs which is used across dozens of exchanges in this day and age. All information is provided courtesy of Arbing Tool. Disclaimer: This is not trading or investment advice. The above article is for entertainment and education purposes only. Please do your own research before purchasing or investing into any cryptocurrency. The post Crypto Arbitrage Today: USDT, TUSD, ZEC, TRX , XEM, ETC appeared first on NullTX.

4 days ago

Cryptocurrency Trading Update: Crypto Market Cap Reaches Monthly High

FOMO Moments More midweek momentum pushes markets higher; Bitcoin Cash racing ahead, Zcash, XRP and ETH doing well. Markets are on the move. Yesterday’s momentum has grown during Asian trading on Wednesday morning and total crypto capitalization has made it back over $220 billion for the first time in almost a month. Bitcoin has awoken and has shifted gear, climbing 1.4% on the day to $6,515. The jump came two hours ago when BTC added almost $100 in one movement. Trade volume has increased almost a billion dollars and is now at just under $5 billion on the day. Ethereum is also risen from its torpor and shifted 5.5% on the day to $220. It is the highest level ETH has been at for four weeks. Trade volume is up almost 25% as it races to keep second spot from XRP which is closing up. In the top ten Bitcoin Cash is nailing it with almost 11% on the day taking BCH to almost $620. This upsurge has been predicted due to the upcoming hard fork and associated coin distribution. Solid gains have been seen by XRP adding 6% on the day to $0.536, Stellar close behind with 5.5% taking XLM to $0.262. EOS and Cardano are both up over 4% and Monero is the only non-mover at the moment. Good gains also in the top twenty with Zcash taking the lead on 7% to $130. Neo, Ethereum Classic and Nem are all doing well today gaining over 5% right now. Following Bitcoin Cash the top performing altcoins in the top one hundred right now are Holo, Aurora, Qtum and MOAC, all adding 7-8 percent to their prices today. Nexo and Ravencoin are still dropping though, losing 3-4 percent when all of their siblings are making moves in the opposite direction. Total crypto market capitalization has seen its largest daily gain for three weeks as 3.8% brings it to $220 billion. Over $7 billion has been added over the past 24 hours and over $16 billion over the past seven days. A smooth upswing has started to form on the weekly chart, have the bulls finally awoken? Bitcoin dominance continues to decline, largely at the expense of BCH and XRP, it is currently 51.5%. FOMO Moments is a section that takes a daily look at the top 20 altcoins during the current trading session and analyses the best performing ones, looking for trends and possible fundamentals. The post Cryptocurrency Trading Update: Crypto Market Cap Reaches Monthly High appeared first on NewsBTC.

5 days ago

Cryptaur Collaborates with NEM and ProximaX After the GITEX Future Stars Event

Cryptaur, a decentralized Ethereum-based ecosystem for P2P services has announced a partnership with NEM and ProximaX. This announcement follows the first public demonstration of X-game at the GITEX Future Stars conference 2018, which took place in Dubai from October 14 to 17. This collaboration aims to underpin Cryptaur’s promotion and localization in new regions that NEM and ProximaX dominate. X-game, a blockchain-based game that rewards players using Cryptaur’s token (CPT) will incorporate ProximaX to host the ePassports of all users to store the information on game characters and their elements. NEM will serve as a decentralized registry for Cryptaur users. (KE)

6 days ago

Venezuela’s “el Petro” stumbles at the starting line...again

Venezuela’s controversial state-sponsored cryptocurrency, the ‘Petro,’ is back...kind of. And it’s already starting to feel like a case of déjà vu. What happened with “El Petro”? Originally “launched” in early February, Venezuela’s state-sponsored cryptocurrency has been a point of controversy since its inception. In its initial state, Venezuelan President Nicholas Maduro announced that the oil-pegged-coin was to be used to skirt U.S. sanctions. Part of this announcement mentioned that the cryptocurrency project had raised over $735 million shortly after release. The true details, however, remained limited at best. The original whitepaper, published in Spanish, noted that the cryptocurrency was to be built on the Ethereum blockchain. But after some reconsideration, a newly-released English-language whitepaper revealed that it would be built on the NEM infrastructure. Neither blockchain contained a real version of the PTR. In addition to the whitepaper confusion, it quickly became apparent that it was impossible to actually purchase the cryptocurrency, as the website was not operating as intended. In the months following these events, Maduro made every attempt to spur the adoption of his creation, from offering massive discounts on Venezuelan crude oil to pleading with members of the Organization of Petroleum Exporting Countries (OPEC) to participate. Despite his efforts, however, not a single government publicly stated that they would be using the cryptocurrency. And according to multiple publications, Venezuelans weren’t fond of using the coin either. However, despite the lack of a cryptocurrency, supporters or adopters, Maduro doubled down on his dream. He pegged a newly released ‘bolivar soberano”, a currency which effectively slashed five zeroes from the bolivar, to the Petro. The launch of the bolivar soberano led to chaos within the country, leaving citizens scrambling to exchange notes, and eventually leading the government to cap ATM withdrawals at 10 bolivar soberanos (about US$0.15) per day. The currency confusion also led to numerous scams, with merchants and customers alike looking to take advantage of the situation. Expectations vs. Reality In early October, Nicolas Maduro finally announced that the second round of Petro sales would begin on November 5th, with revitalized claims that the state-sponsored cryptocurrency would usher in a new era of financial freedom for Venezuelans. Additionally, Maduro released an order stating that Venezuelans would be required to purchase passports and other government services with the cryptocurrency. Leading up to the latest release of the Petro, Maduro claimed that over 100 countries had expressed interest, and that the cryptocurrency would be available to buy, sell, and trade on at least 6 major exchanges almost immediately upon its release. So far, the exchanges listing the cryptocurrency are little-known and fairly new, with most created just this year, including Afx Trade, Bancar, Cryptia, Criptolago, Amberes Coin, and Cave Blockchain - a far cry from Binance and Huobi which were among the ‘major exchanges originally promised. Despite the apparent lack of interest from major exchanges, Venezuela is moving full-speed-ahead with its plans to legitimize el Petro. So what’s new this time around? Maduro created his own blockchain! Kind of... When exploring the protocol and whitepaper, some Reddit users were quick to reveal that the diagram highlighting how the blockchain works was taken directly from the development documentation of Dash. The Reddit gang also did some more digging, uncovering the exact command list used in el Petro’s wallet (at least while it lasted) had also been lifted from another project. Additionally, though el Petro has officially hit the streets, users seem to be having mixed experiences downloading and using the wallet, much less actually purchasing the cryptocurrency. The original version of the wallet which the Reddit users accessed is no longer online and, until last week, the download “file” was simply an empty folder called “wallet.” Today, however, it appears there’s no wallet at all, as users receive a pop-up message which promises that the wallet is coming soon... In addition to its revamped infrastructure, the Petro is no longer pegged to just oil. Now, the price of one Petro is based on a complicated mixture of oil, diamonds, gold and iron, according to the whitepaper. It should also be noted that there are no clear figures of the country’s true reserves of gold, diamonds, or iron. Exit scam or just bad execution? Maduro’s Petro v2 rollout has left a lot to be desired once again. But is it an exit scam or are they just having trouble launching in this new endeavor? The regime is doing everything in its power to legitimize the new cryptocurrency, from forcing citizens to pay for passports with it to pegging their fiat currency to it. However, even Venezuelans are having trouble believing that it will ever be successful. G

6 days ago

Venezuela’s economic crises forces it to use cryptocurrency for exchange with Brazil

Venezuela is in deep economic crises and its fiat has gone for a toss. This has forced the government to officially launch the first state-backed “cryptocurrency” in the form of the Petro coin. And now, according to reports, Venezuela is using its state-backed cryptocurrency as an economic exchange with Brazil. Petro to be used for buying good and services from Brazil As the official launch of Petro coin is behind us, Venezuela is now promoting economic exchange with the northern zone of Brazil through transactions with the cryptocurrency Petro, announced the governor of the state of Bolívar, Justo Noguera The digital asset will be used for the purchase of supplies, medicines, and food that are regularly carried out by companies and owners of the Venezuelan jurisdiction to companies located in the Brazilian border state of Roraima, the official said In this way, the government of Bolívar assumes the Petro as a trade tool with northern Brazil, which validates the success of the first digital currency of Venezuelan origin that this week began its digital sale and at the box office. Noguera also announced that the initiative facilitates the purchase of spare parts and supplies for the basic companies producing iron, steel, and aluminum located in Ciudad Guayana, located in the state itself. To quote him from a local news mouthpiece “This currency will guarantee the operations of our companies, against the economic blockade that the United States intends to implement against Venezuela”. His this statement was in reference to the substitution of the dollar for the purchase of machinery, spare parts and raw materials in those sectors. Starting this week, Venezuela, began the sale of the new form of payment in two forms, in person with convertible currency at the box office and via the web with other digital assets such as Bitcoin, Ethereum, NEM, among others. #Enterate || El Petro podrá ser adquirido por personas jurídicas y naturales desde su portal web #PetroNuevaEraEconómica — Vicepresidencia de Economía (@ViceEconomia) October 29, 2018 The Petro is the first virtual currency in the world backed by energy and mining reserves of a nation, which makes it a solid, reliable and safe investment, said the president of the country, Nicolás Maduro. Although Venezuela is forced to use cryptocurrency due to its economic condition, it is laying a roadmap of how the world would behave when cryptocurrencies take over fiat across the globe. Let’s see how swiftly it happens Is Petro coin answer to Venezuela’s economic problems? Do let us know your views on the same? The post Venezuela’s economic crises forces it to use cryptocurrency for exchange with Brazil appeared first on Coingape.

6 days ago

Ethereum’s Smart Contracts Lack Diversity, Posing Risk to Entire Network

Although Ethereum is the second most popular cryptocurrency, with a market capitalization of $21.47 billion, and has the strongest developer community network, a University-based research paper recently discovered that most contracts on the Ethereum network are direct or near-direct copies of other contracts. Having widely available code may be the driving force behind Ethereum’s popularity. However, it puts the entire network at risk, especially if there are vulnerability and bugs in the original code. Substantial Code Re-use in Ethereum According to the paper titled, “Analyzing Ethereum’s Contract Topology,” published by the Northeastern University and the University of Maryland on October 31, 2018, while the Ethereum platform is very popular with developers, there is substantial re-use of code within the network. The analysts found that the 1.2 million user-created contracts can be reduced to clusters of 5,877 contracts that have a highly-similar code. The lack of diversity and variation shows that a small bug in a contract could result in a wide-spread impact on the Ethereum user and developer community. These bugs and vulnerabilities in the system have been discovered in the past which have, unfortunately, led to attacks, costing the Ethereum community hundreds of millions of dollars in lost value. At the rate of the network’s growth, Ethereum’s lack of different code becomes an increasingly pressing issue. To reach these conclusions, the analysts from both Universities collected the bytecode from all the contracts published to the Ethereum blockchain during the first 5 million blocks which occurred three years ago, in 2015 during Ethereum’s initial release. They also collected modified data from Ethereum’s virtual machine, known as Geth, and logged all interactions between contracts and users. Lack of Diversity Concerning As Ethereum Grows Ethereum is currently the most popular blockchain platform for developers. Ethereum’s market capitalization and exchange rate, which has grown over 1,000-fold since its inception. There are also approximately three times more smart contracts on the Ethereum network than any other blockchain network. Ethereum’s usage, measured by the number of transactions in the system has also increased exponentially, with the average number of transactions per day rising from 40,000 to over 1 million. Although Ethereum experienced a drop in price from its all-time high in January 2018 at $1,477, to $208.09 in November 2018 as seen on CoinmarketCap, the paper noted that the growth and number of transactions per day have remained relatively stable. Ernst and Young’s ICO 2017 Report demonstrated similar findings. While NEM, NEO, Waves, and Stellar attracted a lot of attention in 2017, no other blockchain platform managed to rival Ethereum. The Ethereum developer community remains strongest on Github and has the highest social media activity across Facebook, Twitter, and Reddit. At the current rate, the Ethereum platform will continue to attract more contracts. The research paper, however, stressed their concerns of repeatedly using highly-similar code. They noted that the few creators compared to the number of overall contracts will result in code being reused extensively, affecting the overall reliability of the contract ecosystem. Furthermore, in a blockchain system like Ethereum, smart contracts cannot be changed as it becomes apart of the blockchain state. Creators need to make entirely new contracts and migrate existing or old code over. Analysts Concerned Due to Past Attacks The University research paper noted that Ethereum suffered many attacks in the past due to vulnerabilities in their code. A great example is the Decentralized Autonomous Organization (DAO) hack. Known as “the mother of all smart contract hacks,” the DAO was a venture capital fund for cryptocurrency companies that operated without a central Governing Authority. They completed everything through smart contracts and encoded all rules, and financial transactions on the blockchain. While the DAO raised 12.7 million Ether (approximately $150 million at the time) in May 2016, making it one of the largest crowdfunding projects, it was soon hacked a month later in June 2016. Unfortunately, there was a bug and loophole in the DAO’s code, which allowed the hacker to drain funds from the company. In the first few hours, the hacker stole 3.6 million ETH (approximately $79.6 million at the time.) The DAO hack is unfortunately just one example. Others include the Parity hack, an incident in July 2017, where a hacker attacked the Parity Wallet organization and stole 150,000 Ethereum (approximately $30 million US at the time.) despite being reviewed by a solidity expert and undergoing extensive auditing and peer review process. Ethereum’s Smart Contracts Lack Diversity, Posing Risk to Entire Network was originally found on [blokt] - Blockchain, Bitcoin & Cryptocurrency News.

6 days ago

Japanese Company Trials Cryptocurrency Payment Option for Limousine Rides

A Japanese company plans to trial the use of digital currency as a means of payment for limousine rides in major airports in Japan. Cryptocurrency Payment Trial to Begin in November A Japanese company, Remixpoint Inc., in conjunction with a Hinomaru, a Tokyo-based limousine company, is set to trial virtual currency payments for limousine rides in Japan. According to Bloomberg, sources say that the trips would cover the capital, Tokyo, and its two major airports. The sources further revealed that the trial period would commence this November. Also, at the start of the trial service, airport rides would cover Tokyo’s twenty-three wards and airports in Haneda or Narita. Furthermore, the unidentified sources say the company plans to announce the news on Tuesday (November 6th). Along with the announcement, the acceptable digital currencies for the trial service include Bitcoin, Ethereum, and Bitcoin Cash. However, anonymous sources further claim that the trial service would not be restricted to airport rides. The sources say that if the use of digital currency proves successful, both companies might extend the service to include regular taxi rides. The collaboration between both companies to use virtual currency as a form of payment is indicative of the move towards increased utility for cryptocurrencies. Cryptocurrency Adoption in the Retail Market Recent moves by retail companies to use virtual currency as a means of payment show a considerable penetration of the digital asset into the retail space. Despite the continued decline in the prices of cryptocurrencies, it appears more people are not averse to the utility of the emerging digital currency narrative in everyday micro-transactions. A Japanese restaurant became the first to accept NEM (XEM) as a form of payment back in 2016. Despite the Coincheck hack in Q1 2018, however, the restaurant still saw the potentials inherent in digital currency. Also, a restaurant in North Jersey included BTC and LTC as an alternate form of payment to attract younger customers. Furthermore, a Spanish café, Cafeteria Ona, announced that customers could pay for food or coffee using Tron (TRX). A local Kenyan restaurant located in Nyeri equally accepts two virtual currencies, Bitcoin (BTC) and Dash (DASH) as payment options. Apart from restaurants and cafes, pubs are also into virtual currency adoption. Craft beer company, BrewDog, announced Bitcoin (BTC) and Bitcoin Cash (BCH) as an acceptable means of payment after it opened its new pub in October. Image courtesy of SSH Elderly Services. The post Japanese Company Trials Cryptocurrency Payment Option for Limousine Rides appeared first on Ethereum World News.

6 days ago

Top 3 Cryptocurrency Marketing Services

Marketing plays an increasing role of importance in any industry and as competition continues to emerge it becomes more difficult for companies to stand out in the sea of mediocrity. In the world of cryptocurrency, few companies heavily focus on marketing services. The following three companies certainly are of the few that do, though there always remains room for more competition. BitcoinPRBuzz One of the more relevant marketing specialists in the cryptocurrency world, BitcoinPRBuzz has been around for several years and continues to grow in terms of market reach. Their main focus lies on PR publishing and translation services to ensure companies achieve a global reach. Other services provided by this company include article writing, blogging, ghostwriting for paperbacks and eBooks, and copywriting. This provides their client companies with a lot of potential tools to utilize. Some of its key customers over the years include Genesis Mining, NEM, and so forth. CryptoBoost Although this service is not as widely known as BitcoinPRBuzz, there is merit to CryptoBoost as well. This firm specializes in aiding blockchain projects reach their marketing goals through community management, PR, outreach, ICO listings, and so forth. Tapping into different markets is of the utmost importance for marketing service providers. Some of the company’s clients include Akaiito, ShareRing, and Qompass. Notable partners who will help spread the word include CoinTelegraph, CCN, and Blokconomi. Marketing efforts are no longer subject to just one platform publishing a press release, but rather forging partnerships with industry outlets and ensuring the message is widely received. AmaZix Another relatively new contender in cryptocurrency marketing services goes by the name of AmaXiz. The company providers an effective marketing strategy for companies and projects pursuing an initial coin offering. The team helps out with strategic planning, finding valuable partners, weeding out scam ICOs, and community management. Projects currently making use of their services include Bancor, GoChain, Cardstack, and several others. Bringing more legitimacy to the ICO industry is more than needed at this time, as there is still plenty of scrutiny where initial coin offerings are concerned. For AmaXiz, its track record will determine how successful this project can prove itself to be in the long run. The post Top 3 Cryptocurrency Marketing Services appeared first on NullTX.

6 days ago

NEM Foundation To Conduct Election For Key Positions Next Week

The NEM Council has announced a new EGM (Extraordinary General Meeting), where the community gets to vote on key members for the NEM Foundation. Interested individuals will have to pay $50 annually to become a member. The application process involves a KYC process by the NEM foundation. Once approved, members can vote on open positions, including the president, vice president, honorary secretary, honorary treasurer and 6 council members. Also, members are eligible to stand in the election which is set to take place on 7, 2018. NEM is priced at $0.09276, losing 0.14% in the last 24 hours. (VS)

8 days ago

China Updates Crypto Ranking, Bitcoin (BTC) Plunges Further

On Monday, China’s Center for Information and Industry Development (CCID) updated its ranking of 33 cryptocurrency initiatives, assessed in three different classes and cumulatively. The evaluation has downgraded BTC further since the last update while EOS and ETH have remained on top of the list. Bitshares comes after Ethereum (ETH) in the list. BTC fell from the 10th position to 19th while BCH has risen from number 31 to 28. NEM remains at the bottom of the list. (VK)

10 days ago

More than Three-Quarters of ICO Companies Chose ERC-20 Token Standard in Q3 2018

Blockchain startups are overwhelmingly choosing to issue ERC-20 tokens into the market compared to other standards, according to cryptocurrency ranking website CoinGecko. In Q3 2018, more than 85% of ICOs were launched on the Ethereum blockchain based on data collected from across nearly 200 deals. The Stellar platform is in a distant second at less than 7%, while NEO and NEM came in at 3.6% and 2.4%, respectively. CoinGecko says Stellar, NEO and NEM are gaining momentum amid speedier transaction times and cheaper fees. EOS had a weak showing in Q3 2018 with a single deal in the quarter. (GT)

10 days ago

October Crypto Market Review: Top 20 Cryptocurrencies Crushed

XRP, Bitcoin Cash, Cardano, Iota, Neo, VeChain falling hard, Tron survives while Maker and 0x recover well. For the eighth month this year cryptocurrency markets have fallen. October has been no exception with a 9.4% decline in total market capitalization. This has resulted in the loss of over $20 billion from cryptocurrencies during the month. The Friday 12 monthly low to $197 billion was not as deep as September’s dip but very close. At the end of October markets were at just over $200 billion, down 75% from their January high. The downtrend is still very clear but the losses have grown smaller indicating that the bottom could be close. Bitcoin lost ground in October, starting the month at just over $6,600 and ending it at $6,320. This 4.5% decline is not as bad as it seems since BTC has held above the $6k level for a year now, aside from a couple of quick bounces below it. It has come a long way in the past ten years and some stability is welcome. October Crypto Winners We’re calling Tron one of the crypto winners for October because TRX ended the month where it started at $0.222 making it the first altcoin in the chart not to have lost ground. Maker also made it through the tumultuous month with a 21% climb from $495 to around $600 at the end of October. Bitcoin Gold survived with no losses beginning and ending the month at $26. 0x also made gains during the month ending it 17% higher at $0.767 from $0.654 at the beginning. Decred was another survivor with no losses remaining at $39 at the end of the month. Aeternity down in 30th spot also ended a little higher with a 7% gain over the month. October Crypto Losers Ethereum has lost 15% during October, starting out at $232 and ending at $197. It is ETH’s lowest levels since July 2017 and no recovery looks to be coming just yet. Market capitalization is around the $20 billion mark with the world’s second largest cryptocurrency having lost almost $4 billion last month. XRP has shown some promise in recent weeks but that could not stop the overall loss of 25% from Ripple’s native token. XRP ended the month at $0.44 after starting October very close to $0.60. Bitcoin Cash has also been bashed during October with a 21% decline from $534 to $422. And EOS, rounding out the top five, has not escaped the bears either. A 10% slide saw EOS fall from $5.78 to $5.20 during the month. The usually stable Stellar also ended October in pain falling 15% from $0.26 to $0.22. Litecoin fared even worse with an 18% slump from $61 to just below $50 at the end of the month. Cardano has not made a gain this year and is one of the worse performing high cap altcoins. Last month was no exception as ADA shed another 20% falling from $0.085 to $0.068. Things were that bad in October that even Tether made a loss, falling below its dollar peg to a low of $0.958. Rounding out the top ten is Monero falling from $116 to $104 resulting in a loss of 10%. Heading further down the chart the losses were larger, Iota for a start lost 20% in October. Dash also got bashed falling 18%, Binance Coin fell 6%, and Neo in 15th spot also lost 20%. Losses were greater for Ethereum Classic shedding 21%, Nem only fell 6%, Tezos slid 12% as did Zcash and rounding out the top twenty was VeChain getting trounced almost 22% during October. By the end of October things were in the doldrums for the majority of cryptocurrencies with losses across the board in varying magnitude. The crypto winter is still in full effect and a recovery seems to be a long way off with many pinning hopes on 2019. To summarize the only survivors in October were Tron, Maker, 0x and Bitcoin Gold. Getting smashed with over 20% losses were XRP, Bitcoin Cash, Cardano, Iota, Neo, Ethereum Classic and VeChain. All figures from Previous months: February | March | April | May | June | July | August | September The post October Crypto Market Review: Top 20 Cryptocurrencies Crushed appeared first on NewsBTC.

10 days ago

Japanese Exchange Coincheck Posts 66% Decline In Revenue In Q3 2018

Coincheck's new operator Monex Group has published the exchange's fiscal report for Q3, 2018. The exchange made only ¥315 million ($2.8 million USD) in the months of July, August and September. It is a drop of 66% from its previous quarter, which saw a revenue of ¥942 million ($8.3 million USD). Monex acquired Coincheck this year after the exchange suffered the largest hack in the history of cryptocurrencies. Coincheck lost over $534 Million worth of NEM in January this year. Due to the hack, the exchange's services were extremely limited, which did not allow them to make significant profits. Also, they had disabled new user sign-ups for an extended period of time. However, Monex is confident that they'll be able to turn the exchange around and make it a profit-churning machine once again. Coincheck saw a volume of $8.9 Million in the last 24 hours. (VS)

10 days ago

Coincheck Resumes Services Following Major NEM Theft in January

The year 2018 has not been overly pleasant for the Coincheck exchange. After suffering from a major hack, the company had to overcome a big deficit. In more positive news, the platform was acquired by Monex Group earlier this year. Customers will soon be able to access cryptocurrency services again and register new accounts. Coincheck Moves Forward Again After the hack affecting Coincheck, a lot of questions remained unanswered. Numerous Bitcoin exchanges have been hacked and became defunct in the past. However, this exchange is enjoying a different fate. That is primarily because Monex Group decided to acquire this company several months ago. In an effort to keep moving forward, both companies issued a joint press release. Coincheck reopens its signup process to let users create an account. Additionally, deposits have been opened for select cryptocurrencies. That list includes Bitcoin, Ethereum Classic, Litecoin, and Bitcoin Cash. Users can also purchase these currencies once they access the trading platform. Because of this change, users may experience some minor issues. The company informs clients their services may become “difficult” as more users access them. Any major change in volume or fluctuations will potentially result in a temporary suspension of trading. Fiat currency support is resumed in the form of depositing and withdrawing JPY. Margin trading and cryptocurrency lending are also available yet again. What About NEM and Other Currencies? The main impact of the Coincheck hack was the stolen NEM amounts. Surprisingly, this altcoin will not be supported initially as services resume. The press release mentions NEM, along with other currencies, will be resumed in the near future. When that will be exactly is unclear at this time. It is evident cryptocurrency exchanges can pose significant risks to traders and speculators. Any hack on this scale can cause major problems for the affected currencies and the industry as a whole. Coincheck is taking strides to strengthen their risk management system. Additionally, the company is also revising its policies for listing additional cryptocurrencies and tokens. For the cryptocurrency industry, it is positive to see Coincheck resume its services, albeit in a limited fashion. This first step is crucial. The company now needs to reestablish trust with its customer base. That can be rather problematic, as the January hacking incident is still fresh in people’s minds. Even so, this is another example of how resilient the cryptocurrency industry really is. What do you think about Coincheck resuming services? Let us know in the comments below. Images courtesy of Shutterstock. The post Coincheck Resumes Services Following Major NEM Theft in January appeared first on Live Bitcoin News.

10 days ago

Crypto Exchange Debates Reopening After Hack

The infamous crypto exchange Coincheck is unsure about whether it should reopen after it was hacked and left $500 million lighter. According to multiple local sources, the massive Japanese crypto exchange, Coincheck is debating whether it should reopen after suffering a $500 million hack back in January this year. MineCC, a cryptocurrency miner and analyst based in Japan, reported that the president of Coincheck Oki Matsumoto said that he doesn’t know the prospectus of reopening. At the start of the year, the biggest security breach in the history of the crypto market occurred with Coincheck losing more than $500 million in XEM, the native currency of the NEM blockchain, to an unknown group of hackers. After Coincheck wasn’t able to compensate all the investors affected by the hack, the crypto exchange reached a deal with a publicly listed firm in Tokyo, Monex. This was in order to obtain sufficient funds to refund its investors. The investigation into Coincheck involved law enforcement, local intelligence agencies and the Japanese government in an attempt to salvage any portion of the stolen funds to compensate those who affected on the platform. Following the incident, Coincheck saw its license get taken away so they couldn’t operate as a digital currency exchange in Japan and was requested by the government to re-apply since a new executive took over the company. Until the exchange is granted a license by the countries main financial watchdog, the Japanese Financial Services Agency, the platform will not be able to bring in new users and open the exchange to be public This week the public listed firm in Tokyo, Monex disclosed that throughout the summer this year, the platform allowed existing investors to sell their assets on the exchange. “Since service suspension in January 2018, Coincheck only allowed existing customers to sell their cryptocurrency. This limited revenue stream resulted in segment loss of ¥ 0.6 B [around $5.3 million]. Coincheck has improved in governance, internal control and internal audit, aiming for full-service resumption.” The odds that Coincheck will obtain approval are quite low in all honesty and given the magnitude of the security breach and the number of investors that were affected by the hack. As said by CCN: “The FSA emphasized that it intends to implement stricter regulatory frameworks in regards to the security and internal management systems employed by trading platforms, and the Coincheck hack was the catalyst behind the decision of the FSA to stricken existing regulations surrounding the crypto market.” What are your thoughts? Let us know what you think down below in the comments! googletag.cmd.push(function() { googletag.display('div-gpt-ad-1538128067916-0'); }); The post Crypto Exchange Debates Reopening After Hack appeared first on Crypto Daily™.

10 days ago

Cryptocurrency Exchange Platform ‘Coincheck’ Resumes Account Opening and Trading of Few Virtual Currencies

Monex Group recently announced that cryptocurrency exchange platform, Coincheck, has resumed account opening and the trading of a few virtual currencies. Details of the Announcement In a bid to gradually resume services, a Japan-based online brokerage company, Monex, which acquired the hacked digital currency exchange, Coincheck, back in April, announced that it recommenced new account openings and restricted virtual currency trading. According to a pdf document, services would resume on Tuesday (October 30). Furthermore, starting from Tuesday, customers can deposit the following digital currencies Bitcoin (BTC), Ethereum (ETC), Litecoin (LTC), and Bitcoin Cash (BCH). Also, customers can purchase the following altcoins; Ethereum (ETH), Litecoin (LTC) and Bitcoin Cash (BCH). Bitcoin (BTC), however, was not affected by the Coincheck hack, as it has been available since Monex took over operations. The statement further said that customers residing in Japan could partake in the new account signups. A stricter know your customer (KYC) process is also mandatory for a new account, following the directive of the Japan FSA. The statement further reads: We will, from time to time, resume the following services that are currently suspended if the services are confirmed safe and become ready to be offered. Depositing and buying ETH, XEM, LSK, XRP, and FCT. Leveraged transactions for new positions The Coincheck Hack and Japanese FSA Regulations In January of 2018, Japanese cryptocurrency exchange platform, Coincheck, lost $523 million worth of NEM virtual coins to hackers. The hack was as a result of customers’ funds stored in an insecure hot wallet and a poor security system. Before the hack, the platform abruptly halted the deposit, withdrawal, buying and selling of NEM. In the wake of the hack, the Japanese regulatory body, the FSA, tightened its regulatory policies regarding cryptocurrency exchanges. The FSA slammed the exchange with a business improvement order. This move was to ensure security, protect investors’ funds, and prevent a recurrence. Furthermore, affected Coincheck investors sued the digital currency exchange for freezing asset withdrawals. They also sought a refund of 19. 5 million yen ($182,910). The company went ahead to compensate victims of the attack. In Q2 2018, one of Japan’s top online brokerage companies, Monex Group Inc., purchased Coincheck. Apart from Coincheck, popular South Korean virtual currency exchange, Bithumb, also resumed registration for new users, after its hack in Q2 2018. At the time, the announcement catapulted the exchange platform’s trading volume. Image courtesy of Shutterstock. The post Cryptocurrency Exchange Platform ‘Coincheck’ Resumes Account Opening and Trading of Few Virtual Currencies appeared first on Ethereum World News.

11 days ago

Coincheck Resumes New Account Openings, Customers Deposits

Coincheck, the Tokyo-based cryptocurrency exchange victim of a $500 million worth theft, has resumed new account openings, customer deposits, and purchasing of some digital currencies. The operator had suspended some services following the late January incident in order to protect customers’ assets and investigate the cause of hacking. Coincheck Exchange Resumes Trading of BTC, ETC, LTC, BCH, New Accounts Exclusive for Japan Residents The theft of $500 million worth of NEM in early 2018 caused alarm in Japan, forcing the hand of the country’s financial watchdog, the Financial Services Agency (FSA), to be more demanding of cryptocurrency exchanges operating in its jurisdiction. Coincheck has improved its governance and internal control throughout the year in order to safely restart its activities, the company explained in the announcement. “In particular, we resumed JPY withdrawal in February 2018 and remitting and selling of cryptocurrencies gradually during the period from March to June 2018. And now, here we announce that Coincheck has resumed “new account openings” and “customers’ depositing and purchasing some cryptocurrencies” services today.” The cryptocurrencies made available for deposit are BTC, ETC, LTC, and BCH, which are also available for purchase. Bitcoin trading on Coincheck was never suspended and users were always able to sell any cryptocurrency on their portfolios. New account openings are only available for customers residing in Japan. The registration process includes the submission of identification documents and a KYC check, before receiving a postcard-sized letter from Japan Post instructing the account activation. Coincheck requests existing customers to generate a depositing address when reusing the depositing service. If a remittance is sent to the old deposit address, the operator will not reflect it on the user’s balance nor return it back. The operator, which was acquired by Monex Group for $33.5 million, warns customers that trading services may be temporarily suspended if the platform experiences a significant increase in the volume of transactions or sudden price fluctuations. Coincheck is yet to resume depositing and buying of ETH, XEM, LSK, XRP, and FCT, as well as leveraged transactions for new positions, its affiliate service, JPY depositing through convenience stores, JPY quick depositing (Pay-easy), Coincheck Payment, and Coincheck DENKI (electricity). The services are expected to resume once they are confirmed safe and ready to be offered, the operator added. In May 2018, the cryptocurrency exchange announced it was ordered to delist Monero (XMR), Zcash (ZEC), Dash and Augur’s Reputation (REP) in accordance with Japan’s FSA’s new policy which aims at banning cryptocurrencies that offer significant anonymity. Featured image from Shutterstock. The post Coincheck Resumes New Account Openings, Customers Deposits appeared first on NewsBTC.

12 days ago

Infinito Wallet Launches Multi-Blockchain API for Developers, Powering Easy and Efficient DApp Development

Infinito Wallet, the leading universal wallet for major smart contract blockchains such as Ethereum (ETH), NEO, EOS, and Cardano, has released its Infinito Multi-Blockchain API as the first-step solution for service developers utilizing dApps and blockchain technology. To develop services using dApps and blockchains, it is essential to build nodes that support blockchain network as well as many software required to access and analyze blockchain data. Service development is also complex as development and setting for each blockchain infrastructure built on different design philosophies must be separate. Infinito Multi-Blockchain API will grant developers seamless access to various blockchains and provide great scalability along with robust security, establishing for them a multi-blockchain service development environment. This API is powering the leading universal wallet app that is rapidly growing worldwide, Infinito Wallet. Infinito Wallet - The Ultimate Mobile Cryptocurrency Wallet that Connects Worldwide Coins, Token Holders, and Token Issuers. Ever since its debut to the global market, Infinito Wallet has grown to become a top-tier universal wallet that leads the global expansion of cryptocurrencies and user communities. The wallet app is currently available on both iOS and Android with over 300,000 downloads. Infinito Wallet supports top coins and tokens including BTC, BCH, and Dash, along with smart contract platforms that support the evolution and expansion of blockchain technology utilization. It is the only mobile wallet service with such wide support for coins and tokens. In addition, the wallet has numerous alliances and implementation of smart contract blockchain platforms. Firstly at the end of 2017, Infinito Wallet was officially launched with support for Ethereum and its ERC20 tokens. Then, in the beginning of 2018, the wallet added China’s NEO cryptocurrency, market ranking number 15(*1), along with its token type NEP-5. The Universal Wallet was also the world’s first to support the supporting currency of NEO blockchain infrastructure, GAS. Recently, Infinito Wallet began supporting the first official edition of EOS (MainNet version), ranking fifth (*1) in terms of market capitalization. Later, the Universal Wallet enabled support for all EOS tokens in another industry first for a mobile solution for both EOS blockchain and its assets. This milestone garnered the Universal Wallet much attention from the industry. On 25 September 2018, Infinito Wallet became the first mobile wallet to integrate support for ADA currency of Cardano blockchain, market capitalization ranking number 9 (*1). This was made possible through official development collaboration with the development team behind Cardano blockchain, IOHK, and enabled safe and convenient management as well as access to ADA currency along with services built on Cardano blockchain. Additionally, Infinito Wallet is expanding its partnership with the blockchain community. The Universal Wallet has announced partnership with the blockchain project and cryptocurrency ONTology, ranking number 25th (*1). These efforts to spread crypto adoption of Infinito Wallet has been widely covered and appraised by industry experts as well as crypto information sites (Finder, Coinlist, AbitGreedy, Blockonomi, Coinpedia, etc.). The wallet is also widely lauded as the most versatile and safe cryptocurrency wallet in the world. With the aim to become the ultimate infrastructure to promote social implementation and utilization of blockchain worldwide, Infinito Wallet has plans to include support for more smart contract blockchains including ONTOLOGY, NEM, STELLAR, and other blockchains for popular cryptocurrencies on the market. Currently, Infinito Wallet supports, in alphabetical order, ADA, BCH, BTC, DASH, DOGECOIN, EOS, EOS Mainet Tokens, ERC 20 Tokens, ETC, ETH, GAS, LITECOIN, NEO, and NEP - 5 Tokens. (*1) See: Coinmarketcap at as of 10 October 2018. Infinito Wallet Unveils New Technology Solutions for dApp Developers - Reducing Development Efforts and Costs While Promoting Service Expansion Infinito Wallet has greatly expanded its technical capabilities as well as partner network, solidifying its position in the industry as the most versatile and secure universal wallet for crypto communities. In the process of collaborating with global development communities, various hurdles and problems in blockchain service development has been brought to light. For instance, each blockchain platform employs various different technologies, which must be worked on separately for implementation into services. This vastly increases time and manpower required for service development, which, coupled with the complexity in service development and provision itself acts as a massive hurdle for the dissemination and adoption of blockchain-based technology and services. With this in mind, Infinito began to solve the

12 days ago

9 Months After $530 Million Hack, Coincheck Accepts New Users

Tokyo-based cryptocurrency exchange, Coincheck, is open for new registrations and limited trading 9 months after one of the largest cryptocurrency exchange hacks in cryptocurrency history. A statement from the exchange explains that Japanese residents who pass Coincheck’s know-your-customer (KYC) verification can open new accounts and trade Bitcoin, Bitcoin Cash, Litecoin and Ethereum Classic. Coincheck is under new management and in the future, the exchange plans to resume trading for Ethereum, Ripple, NEM, Lisk, and Factom. (RS)

12 days ago

9 Months after $530 Million Hack, Crypto Exchange Coincheck is Accepting New Users

Japanese cryptocurrency exchange Coincheck, the victim of the largest theft in the crypto industry’s history, has reopened new user registrations and limited trading services. Coincheck Opens Registration, Limited Crypto Trading The Tokyo-based cryptocurrency trading platform, which lost a record $530 million in NEM tokens (XEM) after an attacker breached its hot wallet in January, made

12 days ago

Coincheck Reestablishes Deposits and Buying Features for Select Cryptocurrencies

Earlier today, Coincheck Inc., a subsidiary of Monex Group announced that Japan-based customers can now create new accounts to deposit or buy select digital currencies. In so doing, Coincheck users will now be able to trade BTC, ETC, LTC, and BCH. This news comes after the organisation suspended most of its crypto services following a $500 million hack in January. The firm also announced that it gradually seeks to restore trading in ETH, XEM, LSK, XRP, and FCT. Additionally, Coincheck aims to avail leverage transactions for new positions, affiliate service, and JPY depositing through convenience stores once again. (KE)

13 days ago

Canadian Crypto Exchange MapleChange Gets Hacked, All the Funds Gone

CoinSpeaker Canadian Crypto Exchange MapleChange Gets Hacked, All the Funds Gone With the development of cryptocurrencies, the number of issues is increasing as well. The most pressing problem is connected with hacks. The amount of cyberattacks, big thefts and money laundering activities is rapidly arising within the cryptocommunity, and it can hardly be stopped. The canadian cryptocurrency exchange MapleChange has recently announced on its Twitter that it had become the victim to a hack, which resulted in a loss of consumer-owned funds. We have sustained a hack, and we are investigating the issue. — MapleChange (@MapleChangeEx) October 28, 2018 The attack affected the exchange on Sunday morning. According to the company, they had a bug that allowed attackers to withdraw all the funds held by the exchange. Due to a bug, some people have managed to withdraw all the funds from our exchange. We are in the process of a thorough investigation for this. We are extremely sorry that it has to come to end like this. Until the investigation is over, we cannot refund anything. — MapleChange (@MapleChangeEx) October 28, 2018 In order to investigate the arrack and find a solutin, MapleChange suspended users’ accounts. Further, the exchange informed that they would not be able to refund anything to the users until the investigation is over. We have not disappeared guys. We simply turned off our accounts temporarily to think this solution through. We cannot refund everyone all their funds, but we will be opening wallets to whatever we have left so people can (hopefully) withdraw their funds. — MapleChange (@MapleChangeEx) October 28, 2018 Following the investigation, the platform said it would not be able to refund all customers as “the exchange has to close down, unfortunately. This includes all our social media.” The MapleChange’s hack had a quick coverage across the Twitter environment and within the crypto community. Joseph Young, a crypto-centric journalist and analyst, shared his view on the incident. He believes that the hack is an exit scam. Such a scam is based on gaining trust of some customers, gather their funds and then take oll the money away. In case with cryptocurrencies, you are left without your coins if you don’t have your own private keys. From Young’s point of view, small exchanges are only focused on maximizing profitability, that’s why they pull off exit scams. A small crypto exchange pulled off an exit scam, taking all customer funds. There is no incentive for using small exchanges. Use established exchanges that are regulated, & transparent. Small exchanges also focus on maximizing profitability, not security or investor protection — Joseph Young (@iamjosephyoung) October 28, 2018 Changpeng Zhao, the well-known CEO of Binance, noted that users should be cautious and avoid exchanges that don’t have access to cold wallets at all costs. And avoid using exchanges that doesn't have anything in their cold wallets. — CZ Binance (@cz_binance) October 28, 2018 Currently, there is no more information on the issue. It is not clear whether the funds will be able to be recovered. Ever Increasing Number of Crypto Hacks The incident is not the first time of a hacking attack. The crypto community still remembers the attack in January 2018, when the cryptocurrency exchange Coincheck lost a whopping $500 million in NEM tokens. In September, Japanese crypto exchange Zaif, operated by Tech Bereau Inc., became a victim to hack, losing worth $60 million worth of Bitcoins. As was previously reported by Coinspeaker, the hacked cryptocurrency exchange immediately suspended all deposits and withdrawals while filing a criminal case with the local investigative authorities. The hack was one of the biggest cyber attacks of the year was recorded in September. In October, U.S.-based cybersecurity firm CipherTrace conducted a research to assess the losses caused by hacks. According to their report, hackers stole $927 million from the cryptocurrency exchanges during the first nine months of 2018, which is 3.5 times higher compared with the previous year. By the end of this year this scaring number is about to grow up to $1 billion. There are still no any means to steer clear from crypto hacks. Each investor is to sume extent vulnerable. The only piece of advice is to be careful investing significant amounts of money into the crypto industry. Canadian Crypto Exchange MapleChange Gets Hacked, All the Funds Gone

13 days ago

Cryptocurrency Market Update: Crypto Consolidation Continues

FOMO Moments Sleepy Sunday in crypto land; Veritaseum making a move, Ravencoin flapping. It is another slow Sunday in crypto land with markets still slumbering. There has still been no movement for most of the major cryptocurrencies leaving markets at the same level around $210 billion. Still at the same level a touch below $6,500, Bitcoin is static. BTC has traded at the same price range for the past two weeks and has not been able to get anywhere near $6,600. Ethereum is also immobile for another day trading at just below $205. Yet again the altcoins are mixed and there really isn’t much to write about. Nothing is gaining more than a percent on the day in the top ten and Stellar has declined the most falling back over 2% to $0.228. The top twenty shows equal torpor with more red than green. Iota and Nem have dropped just over 2% and Dash is not far behind. There are no altcoins making gains until we get way down the chart, and even those are small. No major fomo pumps going on either today as the markets sleep. The top performer in the top one hundred at the moment is Veritaseum climbing 8% on the day. Polymath and Metaverse ETP are both up just over 7% and Decentraland has made 6.5% at the time of writing. Dropping between 5 and 6 percent at the red end of things is Ravencoin, Aion, Bytom and Golem. Total market capitalization is still at $209 billion, exactly the same level as this time yesterday. Over the past week markets have ranged between $212 and $208 billion, unable to break out in either direction. The crypto bears are keeping things firmly on the floor and markets haven’t really done much since early September. A real recovery looks a long way off at the moment and this lethargy could continue for another month or more. FOMO Moments is a section that takes a daily look at the top 20 altcoins during the current trading session and analyses the best performing ones, looking for trends and possible fundamentals. The post Cryptocurrency Market Update: Crypto Consolidation Continues appeared first on NewsBTC.

14 days ago

Daily Arbitrage: TRX, Dash, XEM, XMR, ETC, ZEC

Making money in the world of cryptocurrencies has been an ongoing challenge during this extended bearish period. Margin trading is still possible, although exploiting arbitrage opportunities will seemingly yield better short-term results. That is not entirely abnormal, primarily because all of the top markets remain stuck in the dirt until Bitcoin finally picks up the pace. #6 TRON (HitBTC/OKEx /YoBit) Even though a very similar opportunity arose just yesterday, there is still a price gap between HitBTC, OKEx, and YoBit right now. All three platforms trade TRX at slightly different values, which creates an arbitrage gap of 2%-3% for traders to exploit. That in itself is a very interesting development, even though YoBit’s lack of overall liquidity can make this a somewhat unappealing option to explore. #5 Monero (Kraken / HitBTC / Poloniex) No one will be really surprised to learn the XMR price on Kraken is still lower compared to Poloniex and HitBTC. Monero has never been a popular currency on the Kraken exchange, yet it allows for some interesting arbitrage opportunities in this regard. A near 2% gap between Kraken and the other exchanges can be exploited at this time #4 ZCash (Bittrex / Bitfinex / YoBit) Another day comes around and prices on YoBit main surprisingly high for some unknown reason. In the case of ZCash, the value on YoBit is higher compared to most top exchanges, including Bittrex, Bitfinex, and even Poloniex. Arbitrage gaps can be as big as 2.3%, which allows for some very easy money to be made at this stage. #3 Ethereum Classic (Binance / Poloniex / KuCoin) It is rather interesting to see a double arbitrage ETC opportunity arise where ETC is concerned. One option is to buy ETC on Binance and selling it on YoBit for a 2.5% arbitrage spread. Another option is to buy ETC on Koineks and sell it on either Binance or YoBit for gains between 1% and 4%. A lot of appealing options for Ethereum Classic users these days. #2 XEM (Koineks / LiveCoin / YoBit) It doesn’t happen all that often a double-digit percentile arbitrage opportunity opens up in the world of altcoins. For XEM, things are certainly looking interesting. Anyone buying this currency on either Koineks or Livecoin can sell on YoBit for up to 14% gains. It is also possible to trade between Koineks and LiveCoin for a 1% arbitrage gap, which shouldn’t be overlooked either. #1 Dash (Poloniex / Kraken / HitBTC) It has been a while since a decent arbitrage gap opened up where Dash is concerned. Today might be a good day in this regard, as buying this altcoin on Kraken and selling it on either Poloniex or HitBTC can result in a net 1.3% gain. Selling on YoBit is also possible for bigger gains, albeit that exchange’s liquidity might be a cause for concerns. The post Daily Arbitrage: TRX, Dash, XEM, XMR, ETC, ZEC appeared first on NullTX.

16 days ago

Cryptoassets Explained: NEM - NEM USD (Cryptocurrency:XEM-USD)

Cryptoassets Explained: NEM - NEM USD (Cryptocurrency:XEM-USD) Introduction Cryptoasset NEM, which trades under the ticker (XEM-USD), actually stands for “New Economy Movement.” NEM is a custom blockchain and not a fork of Bitcoin or any other cryptocurrency. Source: Google Images Purpose and Classification NEM seeks to be relevant to enterprises, and focuses on secure records,

16 days ago

The Number Of Cryptocurrencies Keeps Rising With The Crypto Market Recording Over 2,000 Coins At The Moment

Since the evolution of financial technology from fiat currency to a more transparent, flexible and lightning-fast cryptocurrency, tons of digital tokens have imploded the cryptocurrency space. From the leading and major virtual coins like Bitcoin (BTC) to Ethereum (ETH) to Litecoin (LTC) and even Stellar (XLM) which are non-privacy coins to privacy coins like Monero (XMR) to Zcash (ZEC) and Dash which offers anonymity to its users, digital currencies have rapidly fulfilled the potential of being electronic cash. Unlike some few years back where the number of financial institutions accepting cryptocurrencies was few, and their numbers on the cryptomarket was minimal. Today it is apparent that people are more aware of the function they play in the global market because their numbers keep increasing with the total number of these digital tokens exceeding 2,000 as of the moment according to CoinMarketCap. Though some of them are not worth serious attention because they are not so relevant, the several shortcomings of leading tokens like Bitcoin which has issues such as limited scalability, high transaction fees and relatively long transaction time have indeed created room in the market for tons of newer digital tokens. Some of them share no part in this peculiar problem, tokens like Ripple which allows for cross-border payment systems have several key financial institutions using their technology because their transactions cost less and get processed faster. With the top 20 cryptocurrencies like Bitcoin, Ripple, Ethereum, Bitcoin Cash, Cardano, Litecoin, IOTA, NEM, Stellar Lumens, Dash, Monero and other coins on that list having unique selling points that make them more appealing to cryptocurrency users globally. Price volatility, blockchain technical limitations and lack of definitive government regulations which posed as obstacles during the early days of digital token systems presented the space for several tokens to ramp up. As the numbers continue to increase experts have said that most of these tokens especially the smaller ones are likely to end up worthless, so they advise that crypto users be careful when purchasing them as an investment option. The post The Number Of Cryptocurrencies Keeps Rising With The Crypto Market Recording Over 2,000 Coins At The Moment appeared first on ZyCrypto.

17 days ago

Cryptocurrency Adoption: Australia Post Ventures into Digital Currency

An Australian company’s digital identity platform is helping users register on digital currency exchanges in minutes. The process is relatively faster than what other virtual currency exchanges have to offer. Access to Cryptocurrency in Mere Minutes Australia-based postal service, Australia Post, has provided customers with the opportunity to register on virtual currency exchanges in minutes on its digital identity platform, Digital iD. According to Micky, users do not have to provide documents nor wait many days to be verified. According to Cameron Gough, general manager of Digital iD, digital identity platform gives customers better control over private information shared with companies and organizations. Gough, further bolstering the benefits of using Digital iD, said: For example, most people hand over their driver’s license to prove they can legally go to a bar, but all that is needed is a name and birth date - not that information plus your full residential address. Digital Surge, a Brisbane-based digital currency exchange, is one of the first companies to adopt the digital identity platform. The Director of Digital Surge, Josh Lehman, said that with Digital iD, users can now experience speedier registration. Lehman further said that the exchange company could easily validate an intending cryptocurrency buyer’s identity instantly. Furthermore, Australians are now able to purchase digital currency almost immediately by imputing passport or driver’s license details. However, prospective investors hesitated to participate in dubious verification processes. But with the digital identity platform’s collaboration with Coinjar and Coin Loft, both Australian companies, there is some hope of gaining investors’ confidence. Cryptocurrency in Australia Australia’s venture into the digital currency industry is not new. In August 2017, the Australian senators and sought to legalize Bitcoin. According to one of the parliamentary members, the move if adopted would be a leap for the country’s Reserve bank and financial institutions. In Q3, blockchain technology company, NEM, announced the launch of a blockchain hub in Australia and New Zealand. The centers were created to enlighten the public on basic blockchain and virtual currency information. Furthermore, two Australian companies, Cointree and Gobbill, announced a partnership to enable Australians to pay utility bills with virtual currency. Outside of Australia, there appears to be a growing mainstream interest in the emerging cryptocurrency narrative. Recently, notable names like Fidelity and Yale University have made headlines with forays into the nascent industry. Fidelity is set to launch its virtual currency custodial platform which will ease the apprehension of big-money players about the safety of their digital assets. Fidelity joins an expanding pool of custody-targeted solutions which includes Coinbase Custody. Image courtesy of Australia Post. The post Cryptocurrency Adoption: Australia Post Ventures into Digital Currency appeared first on Ethereum World News.

17 days ago

NEM Co-founder: Blockchain-based Tokenized Economies Are 'More Interesting' Than Cryptocurrencies

Long Vuong, the founder and CEO of TomoChain, a blockchain network that uses a “150-node architecture [to implement a] proof-of- stake voting (POSV)” consensus mechanism, recently said blockchain has the potential to streamline various business processes in the tech industry. The former project lead and cofounder of the NEM blockchain explained that tokenized economies may also allow more people to equally participate in the global economy.

18 days ago

Japan’s FSA Grants Self-Regulatory Status to Crypto Industry

New reports from Japan confirm that the country’s financial watchdog has granted a self-regulatory status to the crypto industry. The decision will allow the Japan Virtual Currency Exchange Association (JVCEA) to bring new rules for Japanese crypto exchanges, as well as to sanction those that fail to comply. New Move Expected to Improve Exchange Security and Regulations Due to several large attacks on Japan’s leading digital currency exchanges, the government has been searching for a way to reduce these risks. The move marks a new approach to dealing with this, as well as other issues, such as money laundering. An unnamed senior official from the Financial Services Agency (FSA) stated that the crypto industry is a fast moving one. As such, it will have better chances of properly establishing itself if the rules are made by experts. As a result, the industry is expected to become more secure and more trustworthy The JVCEA was formed at the beginning of the year, after the hacking attack on Tokyo-based crypto exchange Coincheck. The attackers managed to breach the exchange’s defenses and stole around $530 million in NEM tokens. While the tokens were made useless soon after the attack, the incident still damaged numerous traders. As a result, the JVCEA was formed, and in August 2018, they submitted a formal application, asking recognition and the ability to regulate exchanges. The FSA responded that the process of reviewing the request will take two months. Today, after careful examination, the FSA decided to grant the application with an official approval. No New Exchanges in Japan Since December 2017 Experts agree that this choice is justified, especially since both, the regulator, as well as the entire industry were heavily criticized due to large-scale attacks that occurred this year. In an attempt to prevent such incidents again, the FSA inspected registered exchanges, issuing a warning to several of them. It has also demanded that they improve their security measures. While the regulator only closed one exchange, multiple others decided to shut down on their own. Despite all the problems, it seems that the exchange industry continues to grow in Japan. So much so, that the FSA had to release a new set of guidelines for those who wish to run their own exchanges. So far, the agency reported that 160 entities are interested in starting a crypto trading business. At the moment, Japan has 16 registered exchanges, with no new approvals since December 2017. Due to the hacks, the FSA decided to become strict, and it seems that no new exchange has met its new criteria since. Featured image from Shutterstock. The post Japan’s FSA Grants Self-Regulatory Status to Crypto Industry appeared first on NewsBTC.

18 days ago

Breaking News: Cryptocurrency Self-Regulation Approved by Japan’s FSA

The Japanese Financial Services Agency (FSA) today (October 24) approved the self-regulation of the country’s cryptocurrency industry. Based on this decision, the Japan Virtual Currency Exchange Association (JVCEA) can exercise oversight over the operations of virtual currency exchanges in the country. Details of the FSA Decision According to Reuters, the Japanese financial regulatory body, FSA, has granted the Japan Virtual Currency Exchange Association (JVCEA), the power to monitor and sanction digital currency exchanges. Part of the JVCEA’s regulatory functions includes laid down rules that protect investors’ funds and ensuring compliance among exchanges. An official of the Japanese FSA noted that the cryptocurrency industry was moving at a fast pace. The official also said that experts in the industry were better suited to make the rules than bureaucrats. The official, commenting on its newly acquired rights, said: We will make further efforts to build an industry that is trusted by customers. A senior partner of Atsumi and Sakai law firm, Yuri Suzuki, however, noted that rules by the JVCEA were severe, compared to the present regulations. Suzuki added that with the industry’s new status, the body could get back the public’s trust in virtual currency. The attorney, an ardent follower of cryptocurrency activities, further noted that the self-regulatory body has a lot of work to do. Also, getting virtual currency experts to form part of the staff, could be an arduous task for JVCEA. Apart from granting the industry self-regulatory rights, the FSA also published guidelines for new applicants willing to establish virtual currency exchange in the country. At the moment, 160 digital currency exchanges have indicated interest. The Japanese digital currency body initially applied for a self-regulatory status in Q3 2018. This latest news is an actualization of that call. FSA and Cryptocurrency Regulations in Japan Japanese cryptocurrency exchanges have in recent years, faced high-profile attacks, compared to western virtual currency exchanges. This prompted the country’s regulatory body to put in place, rules that would safeguard customers’ funds and sanction defaulting exchange platforms. Hackers in January attacked Coincheck, a Japanese digital currency exchange, and stole a staggering $523 million in NEM tokens. Another Japan-based cryptocurrency exchange, Zaif, also lost 5,996 BTC and other altcoins to crypto hackers. With such attacks occurring at an alarming rate, the Japan FSA wasted no time in tightening up its regulatory rules. The regulatory body slammed Coincheck with a business improvement order, following the exchange’s attack. The FSA also said that there would be strict rules regarding speculative investment in digital currency. Image courtesy of IntelligentHQ. The post Breaking News: Cryptocurrency Self-Regulation Approved by Japan’s FSA appeared first on Ethereum World News.

19 days ago

Japan’s Self-Regulatory Cryptocurrency Association (JVCEA) Receives Official Recognition

TL;DR JVCEA (Japan’s Virtual Currency Exchange Association) has received official recognition by the FSA. This move will allow the Association to bring new policies to regulated exchanges and sanction those that fail to comply. The decision was deemed necessary to improve the security of exchanges’ customers and prevent new hacking incidents. Around two months ago, Japan’s Virtual Currency Exchange Association (JVCEA) submitted a request for a license that would allow it to regulate cryptocurrency industry on its own accord. At the time, the application was sent to the FSA, this country’s financial watchdog. Japan’s Financial Services Agency (FSA) replied that it would take two months to review the application and its potential implications, and the JVCEA awaited their response ever since. Today, October 24th, it was approved, and the FSA granted self-regulatory status to the crypto industry. The move is very beneficial for the industry, and it will allow the JVCEA to bring new policies, as well as to sanction any exchange for potential violations of those policies. The move was also highly sought due to the fact that exchanges are in need of closer scrutiny. At the same time, they still need to be allowed to grow and evolve to meet the needs of an evolving industry. From the JVCEA point of view, this decision will also allow it to protect exchanges’ users. JVCEA: Formed after the Coincheck hack Up to this point, the JVCEA was working on providing rules and regulations for the cryptocurrency industry of Japan, but their rules were not legally enforceable. The Association also stated its intention to help create cryptocurrency legislation in this country. The Association is made of 16 officially licensed exchanges, and it was initially formed after the Coincheck hack, that stole around $530 million in NEM (XEM) from Japan’s former largest exchange. This is the first major cryptocurrency-related event in 2018, and it demonstrated the need for higher security. Six months after the attack, in June, the JVCEA released their official regulatory guidelines, which included over 100 pages. The guidelines suggested several significant changes, such as the exclusion of privacy coins, as well as a limit on the credit that crypto exchanges are extending to their users. Self-regulatory finally receives recognition The hack started a series of investigations of regulated exchanges, while the FSA itself raided Coincheck’s offices and seized their documents and computers. Since then, numerous exchanges received warnings regarding weak security, and requests to improve their businesses. As a result of the scrutiny, several companies had to shut down, but the FSHO is still the only one that was closed by the FSA, after receiving two warnings from the watchdog. As for Coincheck, it rendered the stolen coins useless and promised compensation to users affected by the hack. Even though Japan originally came up with cryptocurrency exchange licenses as early as April 2017, incidents such as the one involving Coincheck show that it is still far from adequately regulating the exchanges. Now, with a self-regulatory organization receiving official recognition, things are expected to improve. Additionally, while the JVCEA is not the first self-regulatory organization in the world, its recognition still represents a big move for the future development of Japan’s crypto industry. Other such organizations appeared in other parts of the world, and their existence also aims to prove that the cryptocurrency industry is legitimate. Other than that, it also serves as proof that countries’ financial watchdogs are failing to address the new sector properly and that a separate organization is necessary. The post Japan’s Self-Regulatory Cryptocurrency Association (JVCEA) Receives Official Recognition appeared first on CryptoPotato.

19 days ago

NEM (XEM) Surges 10% as Foundation Signs MoU with UAE Ministry

The New Economy Movement (NEM)’s platform token XEM surged 10 percent against the dollar on Monday, rising from 0.0974-fiat to 0.1046-fiat. The XEM/USD formed a straightforward uptrend while attempting to retest the high from Sep 6 correction action. The price action corrected towards 1.000-fiat later as a part of its pullback action. The downside momentum The post NEM (XEM) Surges 10% as Foundation Signs MoU with UAE Ministry appeared first on CCN

21 days ago

Cryptocurrency Market Update: Has NEM Awoken

FOMO Moments Monday markets are immobile; Nem is rising, Ravencoin is flying, the rest are sleeping. After a slow weekend crypto markets have retreated a little this Monday but are still largely inactive. Total market capitalization has dropped back a fraction but is still holding around the $210 billion level. There has been no movement in the Bitcoin camp which is still stuck at $6,500. BTC has been stuck in this consolidating range and the path of least resistance still seems to be on the downside. Ethereum is also flat with no movement since yesterday leaving it trading at $205. The altcoins are all red during Asian trading today however losses are all very minimal. Stellar and Litecoin are the only two coins in the top ten with a loss over one percent. The rest have hardly moved over the past 24 hours. There is nothing much to write about in the top twenty either aside from Nem which is showing gains of over 6% at the moment. This has taken XEM back to $0.10 as trade volume jumps to $10 million. The Nem Foundation has been busy launching new blockchain hubs in Melbourne and Vietnam as it expands in the region. Recent news that an immersive entertainment experience opening next year on the Las Vegas Strip called Kind Heaven has selected NEM as its blockchain partner would also be adding to momentum. Tezos has also made 2% on the day but most of the other altcoins are in the red with small losses. VeChain is leading them with a dip of 2% on the day and Iota is not far behind. Today’s big fomo pump is Ravencoin surging over 60% at the moment as it climbs the top one hundred. Veritaseum, BAT and Nexo are also doing well today with gains of over 15%. At the messy end is CyberMiles which continues to fall back shedding another 8% on the day. Elastos and DigixDAO are also both losing 6% at the moment. Total crypto market capitalization is still at $210 billion, the same level as yesterday. Markets have not done anything since last Monday’s 15 billon dollar spike. Since this time last month though they are down 6% as the sideways inactivity continues. FOMO Moments is a section that takes a daily look at the top 20 altcoins during the current trading session and analyses the best performing ones, looking for trends and possible fundamentals. The post Cryptocurrency Market Update: Has NEM Awoken appeared first on NewsBTC.

21 days ago

Qtum (QTUM) Story, Latest Partnership and Currently Outclassing NEM and Maker by Price - Prediction

Following the historical announcement for the 27th largest coin by market capitalization that it has teamed up with Amazon Web Service’s or AWS, QTUM/USD has hopped on the gain train with no stopping station. Read in depths about the event: Qtum (QTUM) Enters “Historic Partnership” With Amazon Web Services, Surges 5% QTUM After a complete month of attempts, hurdles and fails the pair QTUM/USD has climbed above the major $4.20 trading [per time of writing] at $4.28 with 8.12% hoist in the last 24-hours. Source: coinmarketcap If the level holds ground sand it closes successfully above, next target would be $5.10 and then $6.40 which have not been meet since beginning of August. Presently it is being only followed by Maker at 2.06% increase and NEM standing at 5.07% in the positive for the last day of trading against the USD. As many crypto-innovations followed Bitcoin’s birth with the target of improving what already exists and fight current issues - QTUM, developed by the Singapore based Qtum Foundation, was part of the giant wave of coins that hit the digital currency industry. QTUM - deploys the more stable bitcoin chain while providing an app development environment akin to the capabilities Ethereum currently provides. The company is aiming to offer businesses an improved smart contract platform that extends functionality along with a more secure and transparent environment. With the idea of simplifying use cases of smart contracts for businesses and institutional operations, the team behind Qtum took the best out of Bitcoin and Ethereum. Latest - According to the team’s blog post as mentioned above, it has officially partnered with Amazon Web Service’s (AWS) China division in a “ground-breaking” occurrence. Per the announcement, the startup and AWS will be joining hands to expand the hosting service’s blockchain-as-a-service (BaaS) offerings, with a focus obviously being taken on QTUM’s in-house protocols and services. - 27th of September , Kraken - one of the leading exchanges, announced that it has set plans in motion to list QTUM and Cardano (ADA). Both tokens were set to be available from the 28th of September 2018. We are pleased to announce that Kraken will list two new digital assets - Cardano (ADA) and Quantum (QTUM). Trading and funding start time Trading and funding in the two assets will launch simultaneously. The approximate launch time globally is: PST: Friday September 28 at 6:00 am EST: Friday September 28 at 9:00 am UTC: Friday September 28 at 1:00 pm CEST: Friday September 28 at 3:00 pm HKT: Friday September 28 at 9:00 pm The post Qtum (QTUM) Story, Latest Partnership and Currently Outclassing NEM and Maker by Price - Prediction appeared first on Ethereum World News.

21 days ago

NEM Foundation Launches Blockchain Hub in Melbourne

Melbourne is now home to a new blockchain hub where NEM representatives will provide support to members of the public on blockchain technology and cryptocurrency. The hub will host educational programs and blockchain events, and it will also serve as a business incubator and support centre for NEM-based blockchain startups. Having benefited from local support The post NEM Foundation Launches Blockchain Hub in Melbourne appeared first on CCN

22 days ago

XRP and XEM Get Listed on Zero-Trading-Fee Crypto Exchange COBINHOOD

On Friday (19 October 2018), XRP and XEM were listed on zero-trading-fee crypto exchange COBINHOOD, and margin trading was made available.

22 days ago

Today’s Arbitrage Opportunities: XLM, Dash, XEM, XMR, LISK, BG

Arbitrage is a rather common occurrence in the cryptocurrency industry these days. With hundreds of trading platforms to choose from, it’s not uncommon for price discrepancies to occur now and then. Below are six examples of coins and exchanges to keep an eye on today, as it seems new opportunities might show up later today. #6 Lisk (Poloniex / YoBit) The Lisk currency has always been a rather interesting one. It tends to see significant price fluctuations with little trading volume, which also creates arbitrage opportunities down the line. Today, it seems trading LSK between Poloniex and YoBit can allow for some arbitrage opportunities. One has to keep in mind YoBIt doe snot have a lot of trading volume, thus trading millions worth of LSK back and forth will not happen. #5 Monero (Kraken / Bittrex / Poloniex) A lot of cryptocurrency enthusiasts tend to forget Monero can be actively traded on the Kraken exchange. Because of this slightly less liquid offering, its price seems to be lower compared to other exchanges. Buying XMR on Kraken today will - on a regular basis - be cheaper compared to using HitbTC, Bittrex, or Poloniex. As such, buying on Kraken and liquidating on any of those three exchanges can yield some arbitrage revenue. #4 Bitcoin Gold (Koineks / HitBTC) Even though very few people consider Bitcoin Gold a long-term project right now, money can be made by arbitrage in the BTG department. At this time, there is a relatively appealing gap between Koineks and HitBTC. Neither of these exchanges is known for their liquidity. Additionally, one has to keep in mind HitBTC has some hefty withdrawal fees, thus those costs will need to be taken into account as well. #3 XEM (Koineks / LiveCoin / YoBit) It becomes evident pretty quickly the smaller altcoin exchanges will offer a lot of opportunities moving forward. Especially in the arbitrage department, Koineks, LiveCoin, and YoBit all have their role to play in this regard, especially where XEM is concerned. This once prominent altcoin offers a nice spread across the exchanges, which can have an interesting impact on the market over the coming hours. #2 XLM (Kraken / KuCoin) Stellar’s XLM has always been a very interesting asset for arbitrage trading. Discrepancies between different trading platforms tend to show up on a regular basis, for some unknown reason. At this time, keeping an eye on Kraken for lower prices can lead to profits gained by selling XLM on KuCoin. HitBTC also maintains a higher price, but the high withdrawal fees will offset a long of potential gains. #1 Dash (Kraken / Bittrex / Poloniex / YoBit) It would seem Dash is the market to keep an eye on today for those looking to partake in arbitrage trading opportunities. Buying it as Kraken is very lucrative, as there is a pretty big gap compared to other trading platforms. Poloniex, YoBit, and Bittrex are all places to sell Dash for profit without having to await any real market momentum changes. The post Today’s Arbitrage Opportunities: XLM, Dash, XEM, XMR, LISK, BG appeared first on NullTX.

22 days ago

Crypto exchange COBINHOOD adds margin trading and lists XRP and NEM

CryptoNinjas COBINHOOD, a cryptocurrency service platform with a zero-fee exchange, today has confirmed that the launch of margin trading on its platform will be scheduled to begin on Friday, October 19th, as previously announced. From the novice to... Crypto exchange COBINHOOD adds margin trading and lists XRP and NEM

22 days ago

Cobinhood Lists XRP and NEM, Launches Margin Trading

COBINHOOD (COB), the first zero-fee cryptocurrency exchange, officially added XRP (XRP) and NEM (XEM) to its trading platform on Friday, in addition to launching its much-anticipated margin trading functionality. 🎉The day has arrived, Margin Trading is available on Oct 19th! Plus, new announcements on Campaigns and Tokens on COBINHOOD😉 👉 — COBINHOOD (@COBINHOOD) October 19, 2018

22 days ago

NEM [XEM] get one step closer to United Arab Emirates after signing a cooperation pact

NEM Foundation recently signed a cooperation pact with United Arab Emirates [UAE] Ministry of Community Development [MOCD]. The pact will enable NEM to provide its blockchain consultation service to the ministry. Furthermore, the parties have also agreed to exchange valuable information, knowledge and recent updates on the emerging technologies in the blockchain platform. According to the Medium report, Assistant Under-Secretary - Policies Sector at UAE’s MOCD, Sana Mohammad Suhail signed a Memorandum of Understanding [MoU] with NEM Foundation Council Member and Regional Head of NEM Southeast Asia, Stephen Chia. During the Gulf Information Technology Exhibition [GITEX] held in Dubai, NEM and UAE’s MOCD reportedly signed the cooperation pact. Furthermore, the signing of the pact was done in order to improve the strategies of the UAE federal government. This would enable their citizens to have a better standard of living and provide community services in a very sustainable, innovative, and high-quality manner. In addition, the pact will enable UAE to move towards their long-term goals which is to become a fully digital government by 2021. NEM Foundation Council Member and Regional Head of NEM Southeast, Stephen Chia stated that the collaboration with MOCD was one of the many engagements by the NEM UAE team, with the Dubai government and UAE administration implementing blockchain technology in their systems. Chia further added: “We, at NEM look forward to support the Dubai government in their vision to be a fully digital government by 2021, and their goal of being world’s first blockchain powered city by 2020.” Sana Mohamed Suhail stated that MOCD’s main agenda was to promote social work which would help them achieve community coexistence. This could be achieved through the development of integrated policies and creating provisions for innovative social work. She further added: “Combining the above mentioned with a stimulating working environment that is in accordance with the best international standards is to satisfy all the demands and needs of the community categories and ensure their access to easy and fast services.” Furthermore, MOCD’s attempt to actively communicate with their customers will be assured by the NEM blockchain platform. In addition, the adoption of blockchain technology comes within a wide range of developmental programs initiated by the MOCD in order to satisfy the needs and expectations of their customers. The post NEM [XEM] get one step closer to United Arab Emirates after signing a cooperation pact appeared first on AMBCrypto.

23 days ago

NEM Foundation to Provide Blockchain Consulting Services to a Dubai Government Ministry

The NEM Foundation has strengthened its relationship with the United Arab Emirates (UAE) government, announcing in a blog post today that they will be providing blockchain consulting services to the UAE Ministry of Community Development (MOCD). Dubai is looking to create a “fully digital government by 2021” and has set its sights on becoming “the world’s first blockchain-powered city by 2020.” The NEM Foundation is already working with Dubai on other blockchain initiatives and this partnership solidifies is position in the region. The UAE is looking to use the blockchain for social work. (GT)

23 days ago

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