https://preview.redd.it/69em74riec951.jpg?width=1280&format=pjpg&auto=webp&s=d281a6cad70d72293091ef33f75cfd32d27a9b36 I.Brief The first half of 2020 has shown the activeness of the Swipe team to keep its mission of enabling millions of people to access and spend crypto come to life. From mobile payment partnerships, additional trading partners, service enhancements, and up to monthly giveaways and educational posts, our team continuously strives its best to deliver quality service to the community. As a newcomer in the industry, we have placed ourselves on the right track by starting this year with the announcement of the integration of Apple Pay on the Swipe mobile application. Since then, we’ve also added more mobile payment options on our app by partnering with Google Pay and Samsung Pay. We started to roll out our aggressive marketing campaigns and giveaways by creating engaging content and announcing various contests that gathered a significant increase in our engagements and impressions. We also relaunched our redesigned website and added more information about our products and services. Our journey to bring cryptocurrency to mass adoption is far from over. There will always be hurdles on the road ahead of us, but we see it as a challenge that will take us at a place full of opportunities for cryptocurrency growth and innovation. II.Reliable solutions amidst pandemic The world currently faces an unprecedented disruption as it currently finds solutions to fight off the COVID-19 pandemic. This pandemic not only produced serious health risks but also made a huge impact on the global economy and forced traditional financial services to adapt sudden changes to their system. This, in turn, led to a sudden shift in the usage of digital financial services that helps people make transactions easier wherever they are. Our team believes that in times like this, we have to provide the community with solutions to mitigate the risks of being infected with the disease. In April, we announced the limit increase for our pin-less NFC tap payments, and by the end of that month, we’ve added Samsung Pay on the roster of our mobile payment partners. These small steps that we are taking day by day show that aside from being a crypto service provider, we also value the needs and safety of our clients. https://preview.redd.it/zjemscskec951.jpg?width=1280&format=pjpg&auto=webp&s=8c1ac93f510155b650d698ad7436c3be3022b5a0 II.Strategic Partnerships with Trusted Mobile Payment Swipe has continuously expanded its features and reach over the course of its inception. This year, we have sealed notable partnerships with mobile payment solutions such as Apple Pay, Google Pay, and Samsung Pay to increase the options of our users to buy and spend cryptocurrencies. As a mobile crypto wallet application, available on both iOS and Android devices, we believe in finding continuous possibilities of expanding our service features. We are fully committed to bringing easier access to cryptocurrency buying and spending through our products. III.Increasing Trading Partners and Coin Inclusion Our native cryptocurrency, Swipe Token (SXP), has also been added to four new crypto trading exchanges, namely, Uniswap Exchange, Bithumb, DigiFinex, and BQ.Net. This move was made for crypto investors to get access and trade SXP(which as of writing has a circulating supply of 65,982,752 SXP) easily on reliable and reputable exchanges. We are reviewing our market movements regularly and we’ve seen that some exchanges were SXP is listed showed signs of poor security, fake volumes, or extremely low liquidity. This made us decide to quickly make a delisting request on these exchanges and only retain the ones we view to be reliable. At present SXP is listed on Bilaxy, Kucoin, DigiFinex, Uniswap, Bithumb Global, BQ.Net, CoinTiger, Bittrex, Bithumb, and IDEX. We’ve also sealed partnerships with Vision Crypto App and VCC Exchange to include SXP on their list of supported cryptocurrencies. Vision and VCC Exchange users can now start adding SXP on their portfolio and wallet and start trading SXP/BTC, respectively. IV.Enhancing Features: Swipe Wallet App Updates In March and April of this year, we’ve announced the integration of the $DAI stablecoin, $TRX (Tron), $ARK, and USDC on the Swipe wallet platform. This move gives our users more cryptocurrency choices in the app where they can buy and sell via their linked bank account or cards, spend it to fiat using Swipe Visa, and exchange these coins instantly with all the supported coins in the Swipe Wallet platform. Also, as we commit to deliver a reliable, convenient, and secured mobile crypto experience to our users, last May and June we made two system updates (v1.37 and v1.4) on our application to fix some bug issues, upgrade app features and enhance the Swipe mobile interface. V.Waiving Fees for Swipe Visa Card We are committed to helping the crypto community, especially in these difficult times. Following the Financial Conduct Authority’s (FCA) order for Wirecard UK to cease activities, some cryptocurrency users are left in limbo as to what will happen to their crypto card related services. This incident did not affect Swipe Visa card operations as it is not connected with Wirecard. In fact, Swipe Chief Executive Officer (CEO) Joselito Lizarondo quickly offered free Swipe Visa card orders to all those who wish to migrate from their previous cards to Swipe. At present, Swipe offers free order and shipping of its Visa card in the United Kingdom and European Union countries. On top of these, the removal of all fiat in fees for all verified users was also announced last March 15. Verified users can top-up their Swipe Wallet account with USD, EUR, GBP, and more for free. Swipe commits itself to assist the community when needed. Though our sources may not be as big compared to our competitors, we believe in valuing and preserving the industry that brought us to where we are now. VI.Giving Back to the Community Part of our marketing strategy to introduce cryptocurrency and also our services is to host various giveaway programs on our social media pages. We’ve launched our #SATSBACK program where we reward our users is in the original cryptocurrency that started it all: Bitcoin (BTC). Since January of this year, we launched five giveaway programs on Twitter and Telegram offering up to $100 in BTC to participants. Last February 12, Swipe has partnered with KuCoin and gave away $200,000 in SXP to the top bounty participants. VII.Cryptocurrency and Fintech Literacy Part of our company’s initiative is to educate its future and existing users of anything and everything about crypto and financial technology. Last May, we launched the “Learn with Swipe: Your Essential Guide to Cryptocurrencies and Financial Technology” blog project. These series of blog posts aim to share the team’s knowledge in crypto and fintech and encourage new and existing crypto users to continue learning their way in the industry. VIII.Final Thoughts We are still paving our way to the crypto industry. Over the first six months of 2020, we tried our best to deliver better cryptocurrency experience to our users. Though there are setbacks caused by the ongoing global pandemic, we are blessed to know that you still continue to support our project and goals. The majority of us are still uncertain of what will happen in the next half of 2020. But for sure, challenges will not hinder our team to develop and provide innovations and solutions for a better crypto managing experience. https://preview.redd.it/6wgeygenec951.png?width=827&format=png&auto=webp&s=f9f55f284c399d34fa2af3267e30658631aad03b This article is also posted athttps://sw.pe/swipemidyear2020
CRYPTO.COM COIN REACHES A 24 HOUR VOLUME OF 67.01 MILLION USD
Crypto.com Coin (CURRENCY: CRO) was trading 1.5% higher against the US dollar during the 1 day period. Crypto.com Coin has a $ 2 market cap of $ 22.26 million Crypto.com coins were traded on the exchanges on the last day. A Crypto.com coin token can currently be purchased for around $ 0. 01 or 0. 00000856 BTC on major cryptocurrency exchanges such as ABCC, OceanEx, Indodax, and CPDAX. In the past seven days, Crypto.com Coin has traded 000. 5% against the US dollar.
Here's how similar cryptocurrencies developed on the last day:
Huobi Token (HT) was 0% against the dollar and is now trading at $ 4,000 or 0. 00045453 BTC. Acash Coin (ACA) traded 8% against the dollar and is now trading at $ 0. 0789 or 0.00000856 BTC. Maker (MKR) rose 2.6% against the dollar and is now trading at $ 461.62 or 0.05008744 BTC Basic Attention Token (BAT) rose 1.6% against the dollar and is now trading at $ 0. 26 or 0. 00002782 BTC. IOStoken (IOST) declined 0.3% against the dollar and is now trading at $ 0. 0396 or 0.461 BTC. Kyber Network (KNC) was up 2% against the dollar and is now trading at $ 1.25 or 0. 00017719 BTC. OKB rose 0.3% against the dollar and is now trading at $ 4. or 0. 00053815 BTC. Aave (LEND) traded 14 .1% higher against the dollar and is now trading at $ 0.14 or 0. 00002427 BTC. FTX Token (FTT) traded 1% higher against the dollar and is now trading at $ 3. 00 or 0.00033005 BTC. THETA (THETA) traded up 4.3% against the dollar and is now trading at USD 0. 11 or 0. 00002724 BTC. CRO is a token. It was first traded in November 2019. The total stock of Crypto.com Coin is 093, tokens and it's circulating supply is 11, 093, 607, 306 tokens. The official message board for Crypto.com Coin is blog.crypto.com. The Reddit community for Crypto.com Coin is / r / Crypto_com. The official website for Crypto.com Coin is www.crypto.com/de/chain. Crypto.com Coin's official Twitter account is @cryptocom.
Buying and selling Crypto.com coins
Crypto.com coins can be traded on these cryptocurrency exchanges: Fatbtc, OceanEx, BigONE, Upbit, HitBTC, GOPAX, DDEX, IDEX, ABCC, Indodax, OKEx, Dcoin, BiteBTC, Bithumb Global, Bithumb, Bibox, Bittrex, KuCoin, Huobi Global, DigiFinex, CoinTiger, Huobi Korea and CPDAX. Currently, it is usually not possible to buy alternative cryptocurrencies like Crypto.com Coin directly with US dollars. Investors wishing to trade Crypto.com Coin should first buy Ethereum or Bitcoin through an exchange that trades in U.S. dollars such as Gemini, GDAX, or Changelly. Investors can then buy their newly-acquired Ethereum or Bitcoin Crypto.com coin on one of the exchanges listed above.
A cryptocurrency exchange from Top 10 earns about $62M per month on average Exchange platforms generate a profit regardless of whether the market and cryptocurrencies are growing or decreasing on value. The profit of the exchange platform depends mainly on the volume of turnover. A cryptocurrency exchange from Top 10 earns about $62M per month on average, from Top 50 – $26M, and from Top 100 – $13M. The average 24-hour volumes are the following: Top 10: $400M, Top 50: $170M and Top 100: $86M.
About 99% of cryptocurrency trade happens on centralized exchanges
Currently, on the cryptocurrency market, about 99% of transactions are being handled on centralized exchanges. Centralized exchanges provide higher liquidity and a greater volume of trade. Decentralized exchanges bring a higher level of security, but they are way slower. However, there are also hybrid solutions, just like our CoinCasso Exchange 2.0, which is going to combine the advantages of centralized and decentralized exchanges.
There are 255 cryptocurrency exchanges listed on CoinMarketCap
The largest cryptocurrency exchanges today are: Looking to get started with cryptocurrency? Buy Bitcoin on CoinCasso!
OKEX (30-day volume: $35 921 003 100),
Binance ($34 161 861 398),
DigiFinex ($33 935 010 227),
HitBTC ($27 000 379 162),
Huobi Global ($25 288 796 654).
The first Bitcoin exchange is Bitcoinmarket.com
The site was initially announced on the Bitcointalk forum by “dwdollar” on January 15th, 2010. “Hi everyone. I’m in the process of building an exchange,” he wrote. “I have big plans for it, but I still have a lot of work to do. It will be a real market where people will be able to buy and sell Bitcoins with each other.” He continued: I am trying to create a market where Bitcoins are treated as a commodity. People will be able to trade Bitcoins for dollars and speculate on the value. In theory, this will establish a real-time exchange rate so we will all have a clue what the current value of a Bitcoin is, compared to a dollar.” Back then, a single Bitcoin was worth just $0.003!
Magic the Gathering exchange went bankrupt
In 2014, Mt. Gox, which stands for… Magic the Gathering Exchange, was the largest Bitcoin exchange on the globe. It handled about 70% of all Bitcoin transactions. There have been stolen about 850,000 bitcoins from that exchange! That money was worth about $450 million at the time. Since this time, about 200,000 BTC was reported to be “found”. The exchange announced bankruptcy and closed its website.
Crazy sell order by “BearWhale”
One of the most fascinating characters and icons of the cryptocurrency world is a person called “BearWhale”. On October 6th, 2014, he placed a sell order: 30,000 BTC for $300 per 1 BTC. The Bitcoin price at that time was equal to $350, and people were afraid that this large sell order could move Bitcoin price down to the value from a few years back. “BearWhale”’s coins were bought super quickly and after that, Bitcoin price faced fluctuations for 6 hours to return to “normal” price after this period of time.
Binance moving and moving
The largest cryptocurrency exchange is constantly moving from countries that adopt laws that make their activity illegal. Binance, was initially located in China. In 2018, China blocked the operation of foreign trading platforms, so Binance moved to Japan, where it also encountered legal problems. After leaving Japan, the exchange was accepted by the government of Malta, who even… greeted them on Twitter!
Billions of dollars laundered
The exchange used cryptocurrencies to “wash” dollars! BTC-e, the main European cryptocurrency exchange was accused of laundering billions of USD. Its operator, Alexander Vinnik, is also accused of participating and benefiting from some Mt. Gox hacks.
Be aware of a blacklist
Merchants and exchanges can not accept your coins if your last block is “contaminated” by certain transactions, usually involving terrorism or illegal activity, even if you did not know that the person you traded with had a blacklisted wallet before. Monero is an altcoin which was created to omit this issue. Monero’s blockchain, unlike most others, is completely anonymous, making it impossible to check the address activity. Monero is the most widely accepted cryptocurrency in the “deep web” stores.
Introduction to Cryptocurrencies: USDT, the most popular stable coin
Written by the CoinEx Institution, this series of jocular and easy to understand articles will show you everything you need to know about major cryptocurrencies, making you fully prepared before jumping into crypto! Many novices of cryptocurrencies may feel confused with the obscure difference between USDT and USD at first . Different as they are, there remain some relations. To some extent, the name USDT is like a biased belief implanted in the minds of novices. https://preview.redd.it/nqp97earybt41.png?width=1200&format=png&auto=webp&s=84e70cc382389d21e4647b98605f3eabee06936d USDT (Tether USD), known as Tether, is a token based on the stable value currency US dollar (USD), launched by Tether. In other words, it serves as a currency to replace the US dollar in digital currency trading platforms. (With 1USDT = 1USD, users can exchange USDT for USD at a rate of 1: 1 at any time) USDT is not a new token It was launched for trading in 2015， and the world-renowned digital asset trading service platform CoinEx supports USDT trading pairs. There are extensive concerns about how to exchange tokens into fiat currencies after the introduction of cryptocurrency trading. USDT has provided part of the solution, and thus has been highly praised by many investors. In the white paper “Tether: Fiat currencies on the Bitcoin blockchain”, Tether defines USDT as a digital currency pegged to fiat currencies. All Tethers are are initially issued as tokens on the BTC blockchain through the Omni Layer protocol, at a pegged exchange rate of 1:1 against the USD. After launching USDT, Tether strictly adheres to the 1:1 reserve guarantee, which means that for every issued USDT token , its bank account will have 1 USD funding guarantee. Many people are fond of USDT precisely because of its specific characteristics. In recent years, it remains one of the most popular stablecoins, with a market share of nearly 3 billion US dollars, leaving behind such stablecoins as USDC, Gemini Dollars and JPM Coin USDT's creator, Tether, is one of the top five digital currency companies by cash flow. They earn 3-5% profit from the $2 billion offered by the users around the world, almost without any operating costs. (This is really cool) USDT is issued and traded through the Omni (formerly known as Mastercoin) protocol, which is a 2.0 currency based on the Bitcoin blockchain. Transaction confirmation and other parameters of USDT are consistent with those of BTC. Users can transfer USD to the bank account provided by Tether through SWIFT, or get USDT through the exchange. Of course, they can also buy USDT with BTC in the exchange. In short, it is quick and easy! Unlike other digital currencies, USDT boasts some great features: 1.Intuitive USDT is equal to the US dollar, with 1 USDT = 1 US dollar. Each currency = how much USDT, which is equal to how many US dollars its unit price is. 2.Stable As Tether is backed by fiat currencies, users can still trade on the blockchain asset market without being affected by the price fluctuations of most blockchain assets. 3.Transparent Tether's issuing company, Tether, claims that its fiat currency storage account has regular audits to ensure that each USDT in circulation is backed up by one US dollar. The storage account status is public and can be queried at any time. In addition, all Tether transaction records will be published on the public chain. 4. Low transaction fees There is no fee for transactions between Tether accounts or between wallets where Tether is stored. Conversion from USDT to a fiat currency requires the transaction fee. Tether has been frank about the risks of USDT in the white paperAlthough Tether is a decentralized digital currency, Tether company is not that decentralized .. As a centralized depositor of all the assets, the company also faces possibilities of bankruptcy, freezing funds and fund running; what’s more, the re-centralization may also paralyze the entire system. To put it simple: coin speculation could be risky and investors need to be cautious. Such honest companies are hard to find. Yet in March 2019, Tether changed its terms of service: the USDT's endorsement altered to 75% USD anchorage and 25% iFinex stock-collateral loans. . In April of the same year, Tether issued an additional 640 million USDT, also pushing itself to the forefront. So what’s on your mind after reading this article? Why not make your voices heard by trading on CoinEx, or join the official CoinEx’s telegram group at https://t.me/CoinExOfficialENG ? About CoinEx As a global and professional cryptocurrency exchange service provider, CoinEx was founded in December 2017 with Bitmain-led investment and has obtained a legal license in Estonia. It is a subsidiary brand of the ViaBTC Group, which owns the fifth largest BTC mining pool, which is also the largest of BCH mining, in the world. CoinEx supports perpetual contract, spot, margin trading and other derivatives trading, and its service reaches global users in nearly 100 countries/regions with various languages available, such as Chinese, English, Korean and Russian. Website: https://www.coinex.com/ Twitter: https://twitter.com/coinexcom Telegram: https://t.me/CoinExOfficialENG
EDUCATIONAL PIECE COMING FROM #CoinExInstitution :- Introduction to Cryptocurrencies: USDT, the most popular stable coin
https://preview.redd.it/f7gy1slqqct41.jpg?width=725&format=pjpg&auto=webp&s=a8ef4d04c45403ed7f2d7efeb118164d3c158239 Source: https://www.twitter.com/coinexcom/status/1251046090272657409 Written by the CoinEx Institution, this series of jocular and easy to understand articles will show you everything you need to know about major cryptocurrencies, making you fully prepared before jumping into crypto! Many novices of cryptocurrencies may feel confused with the obscure difference between USDT and USD at first . Different as they are, there remain some relations. To some extent, the name USDT is like a biased belief implanted in the minds of novices. USDT (Tether USD), known as Tether, is a token based on the stable value currency US dollar (USD), launched by Tether. In other words, it serves as a currency to replace the US dollar in digital currency trading platforms. (With 1USDT = 1USD, users can exchange USDT for USD at a rate of 1: 1 at any time) USDT is not a new token It was launched for trading in 2015 and the world-renowned digital asset trading service platform CoinEx supports USDT trading pairs. There are extensive concerns about how to exchange tokens into fiat currencies after the introduction of cryptocurrency trading. USDT has provided part of the solution, and thus has been highly praised by many investors. In the white paper “Tether: Fiat currencies on the Bitcoin blockchain”, Tether defines USDT as a digital currency pegged to fiat currencies. All Tethers are are initially issued as tokens on the BTC blockchain through the Omni Layer protocol, at a pegged exchange rate of 1:1 against the USD. After launching USDT, Tether strictly adheres to the 1:1 reserve guarantee, which means that for every issued USDT token , its bank account will have 1 USD funding guarantee. Many people are fond of USDT precisely because of its specific characteristics. In recent years, it remains one of the most popular stablecoins, with a market share of nearly 3 billion US dollars, leaving behind such stablecoins as USDC, Gemini Dollars and JPM Coin USDT’s creator, Tether, is one of the top five digital currency companies by cash flow. They earn 3–5% profit from the $2 billion offered by the users around the world, almost without any operating costs. (This is really cool) USDT is issued and traded through the Omni (formerly known as Mastercoin) protocol, which is a 2.0 currency based on the Bitcoin blockchain. Transaction confirmation and other parameters of USDT are consistent with those of BTC. Users can transfer USD to the bank account provided by Tether through SWIFT, or get USDT through the exchange. Of course, they can also buy USDT with BTC in the exchange. In short, it is quick and easy! Unlike other digital currencies, USDT boasts some great features: 1.Intuitive USDT is equal to the US dollar, with 1 USDT = 1 US dollar. Each currency = how much USDT, which is equal to how many US dollars its unit price is. 2.Stable As Tether is backed by fiat currencies, users can still trade on the blockchain asset market without being affected by the price fluctuations of most blockchain assets. 3.Transparent Tether’s issuing company, Tether, claims that its fiat currency storage account has regular audits to ensure that each USDT in circulation is backed up by one US dollar. The storage account status is public and can be queried at any time. In addition, all Tether transaction records will be published on the public chain.
Low transaction fees
There is no fee for transactions between Tether accounts or between wallets where Tether is stored. Conversion from USDT to a fiat currency requires the transaction fee. Tether has been frank about the risks of USDT in the white paperAlthough Tether is a decentralized digital currency, Tether company is not that decentralized .. As a centralized depositor of all the assets, the company also faces possibilities of bankruptcy, freezing funds and fund running; what’s more, the re-centralization may also paralyze the entire system. To put it simple: coin speculation could be risky and investors need to be cautious. Such honest companies are hard to find. Yet in March 2019, Tether changed its terms of service: the USDT’s endorsement altered to 75% USD anchorage and 25% iFinex stock-collateral loans. . In April of the same year, Tether issued an additional 640 million USDT, also pushing itself to the forefront. So what’s on your mind after reading this article? Why not make your voices heard by trading on CoinEx, or join the official CoinEx’s telegram group at https://t.me/CoinExOfficialENG ? About CoinEx As a global and professional cryptocurrency exchange service provider, CoinEx was founded in December 2017 with Bitmain-led investment and has obtained a legal license in Estonia. It is a subsidiary brand of the ViaBTC Group, which owns the fifth largest BTC mining pool, which is also the largest of BCH mining, in the world. CoinEx supports perpetual contract, spot, margin trading and other derivatives trading, and its service reaches global users in nearly 100 countries/regions with various languages available, such as Chinese, English, Korean and Russian. Website: https://www.coinex.com/ Twitter: https://twitter.com/coinexcom Telegram: https://t.me/CoinExOfficialENG
https://preview.redd.it/4pxtt27gudq41.jpg?width=1280&format=pjpg&auto=webp&s=c0717c8ecbe5e7d2b26f9181cd34ea2bcdb9345a Swipe keeps its promise to continue its mission on bringing cryptocurrency to mass adoption. Despite the recent global events that affected most of us, Swipe’s year-long giveaway campaign plans and partnerships are still on a roll. Free Fiat in Transactions for Swipe Wallet Verified Users The Swipe team understands the needs of each of its users. In these challenging times, the team wishes to at least ease out the current situation by removing all fiat in fees for all verified users. Swipe verified users can now top up their Swipe Wallet account with USD, EUR, GBP, and more for free! $DAI Now Available on Swipe On March 21, through its social media pages, Swipe announced the launch of the DAI in the Swipe Wallet application. Swipe users can now able to buy and spend DAI directly from the application. Dai (DAI) is a decentralized stablecoin running on Ethereum (ETH) pegged to maintain a value of $1.00 USD. According to its website, DAI’s stability is unmediated by any central party, and its solvency does not rely on any trusted counterparties. All circulating Dai are generated from Maker Vaults and are backed by a surplus of collateral assets. Twitter Giveaway 100 lucky users will receive $100 in Bitcoin (BTC) through Swipe’s Twitter Giveaway Event. Complete mechanics are found on Swipe’s official twitter page. Winners will be announced every 48 hours! Swipe X Bittrex Global Swipe is now officially listed for trading at Bittrex Global. Users are now able to deposit SXP to Bittrex Global immediately and trade with SXP/BTC Pair. Bittrex Global is one of the secured trading platforms and digital holding infrastructure worldwide. Located in Zurich, Bittrex Global provides its customers with an institutional-grade experience for businesses, and individuals, alike. Bittrex adds to the list of reliable trading platforms that SXP is currently listed such as DigiFinex, Bilaxy, Kucoin, Bithumb Global, Bithumb Korea, Uniswap, CoinTiger, and IDEX. Swipe Visa Cards Now Available on Google Pay Swipe is proud to announce that the Swipe Visa Debit Cards can now be added to Swipe users’ Google Pay wallet. With this feature, Swipe users will be able to add their Visa card and pay at any point-of-sale terminal that accepts Google Pay. With this feature, Swipe European users will be able to get full access to the Swipe Card platform. They can easily spend their cryptocurrencies with their smartphones using Google Pay wherever VISA is accepted. Work Safely from Home Amidst this global pandemic, Swipe is searching for a pool of talents that can help us bring our mission to bring cryptocurrency to commerce a success. Swipe, a financial services company, has a Business Continuity Plan for its operations to continue in spite of the recent global issues. Swipe is looking for talented individuals to fill positions in our decentralized style workforce structure. If you think you are the right person to join our team, send your résumé and cover letter telling why you’d be a great fit. Email us at [[email protected]](mailto:[email protected]) Send Over 26 Cryptocurrencies via iMessage with Swipe Swipe Wallet iOS users can now send cryptocurrencies directly via iMessage. This announcement of Swipe came after the recent fiat inflation happening across the world. To use this option, Swipe Wallet users can simply go directly to their iMessage and tap on the Swipe Widget to get started. --- Stay up-to-date with all the latest news from Swipe Website: https://swipe.io Twitter: https://twitter.com/SwipeWallet Facebook: https://facebook.com/Swipe Instagram: https://instagram.com/Swipe Medium: https://medium.com/Swipe Telegram: https://t.me/SwipeWallet & https://t.me/Swipe LinkedIn: https://www.linkedin.com/company/swipewallet YouTube: https://youtube.com/SwipeWallet
https://preview.redd.it/19fnvw5jehh41.jpg?width=1280&format=pjpg&auto=webp&s=44dd98b652ec9640dbddade1baa6b1e4e0e54698 It has been very busy for the past few weeks for the Swipe team. With the ongoing partnerships and contests organized by the team, Swipe aims to share its latest updates regularly to maintain the company’s transparency and communication to its users and the public. https://preview.redd.it/2va3jqelehh41.jpg?width=1280&format=pjpg&auto=webp&s=89318a291021e720ae67d46c2cb25d757d33679b Telegram Giveaway FIFTY lucky contestants will get a chance to win $5,000 worth of Bitcoin (BTC) & $5,000 in Swipe Token (SXP) on Swipe’s Telegram bounty campaign. To register, Telegram users must follow @SwipeWallet and retweet with #SATSBACK on Twitter, join its official Telegram community t.me/SwipeWallet, bounty the @Swipe_Chat_Bot, and follow all the instructions by the Bot. Winners will be announced on March 1, 2020. SXP listed on DigiFinex On Swipe’s first Bi-Weekly update, it has announced that it will be listing its SXP on DigiFinex, one of the leading cryptocurrency exchanges worldwide. This announcement came after SXP won second place in the 11th round of Community Token listing registration of DigiFinex. DigiFinex started to list SXP and open the withdrawal and trade transactions on February 11. Deposit service opened on February 10 and to celebrate the listing it air-dropped 5,000 worth of SXP. At present, SXP is currently listed on the trading platforms such as Bilaxy, Kucoin, Bithumb Global, Bithumb Korea, Uniswap, CoinTiger, and IDEX. On its earlier update, the Swipe team mentioned that it has requested the delisting of its coins to Livecoin, p2pb2b, and LAToken. This direction of Swipe aims to open a higher liquidity access point for users to buy SXP. Swipe & Chainlink Relationship Swipe recently partnered with Chainlink, a reliable decentralized oracle network provider, to enable the Swipe platform to access Chainlink’s decentralized price feed oracles, particularly their ETH-USD Price Reference Contract, and a custom-built decentralized price reference network for SXP-USD, representing Swipe’s native token. Chainlink’s oracle solution will allow Swipe to create a stable, yet decentralized bridge between reliable off-chain prices and Swipe’s on-chain transactions. Multiple Chainlink oracles evaluate the same data point, thus eliminating one oracle being a single point of failure or absolute truth. Additionally, Swipe will use Chainlink’s ETH-USD price feed to cross-reference against the SXP-USD price feed to allow users to spend SXP directly on Ethereum Dapps. WinPlay x Swipe Swipe recently launched a contest on WinPlay.App with KuCoin. From February 12 to March 4, 2020, Swipe will be giving away 7,000 worth of SXP to the top 500 participants on WinPlay.App. Take part now for a chance to win your share. Contest Link: swipe.ws/winplayxswipe WinPlay.App is the rebranded version of Kucoin’s KuCoinPlay. On its official announcement last February 14, KuCoin stated that it has “reached a consensus with the KuCoinPlay team that KuCoinPlay should be rebranded as WinPlay.App and from now on the platform will be operated independently. With this change, WinPlay.App will be able to serve not only the projects listed on KUCOIN but all blockchain startups.” $78.9M worth of SXP locked in a Time-Lock Smart Contract audited by CertiK Swipe officially locked $78,927,344 of Swipe Tokens (SXP) in a Time-Lock Smart Contract audited by CertiK, a leader in smart-contract audits and formal verifications. With this lock, Swipe has moved over the Team tokens over a time locked period of eight years. Swipe has now deposited these tokens into a time-lock smart contract on Ethereum that has a programmatic release in accordance with the Swipe White Paper. Swipe has also worked with Etherscan to provide a nametag for this account under “Swipe: Treasury 3” so it’s easily viewable to all users. Swipe promises to keep its community updated and well-informed of its activities and projects. To get the latest news from Swipe, don’t forget to follow its official social media pages: Website: https://swipe.io Twitter: https://twitter.com/SwipeWallet Facebook: https://facebook.com/Swipe Instagram: https://instagram.com/Swipe Medium: https://medium.com/Swipe Telegram: https://t.me/SwipeWallet & https://t.me/Swipe LinkedIn: https://www.linkedin.com/company/swipewallet
https://preview.redd.it/50f1lcqnbrk41.jpg?width=1280&format=pjpg&auto=webp&s=f943f682aa822b09ad43a61bbade0ad90d9d88ee The second month of 2020 ended with exciting bounty campaigns, giveaways, and partnerships for Swipe. With a good number of participant turnouts, Swipe aims to bring more activities like these on its platform to maintain the interest and satisfaction of its subscribers. Telegram Giveaway Winners Notified Swipe has awarded 50 lucky contestants with $5,000 worth of Bitcoin (BTC) and Swipe Token (SXP) on Swipe’s Telegram bounty campaign. Winners were notified via the Swipe Wallet app and credited their balances. Winners will be able to withdraw or use the funds that they’ve won immediately. SXP listed on DigiFinex Swipe announced that its native coin SXP is officially listed on Digifinex, a leading international cryptocurrency exchange. SXP won second place in the 11th round of Community Token listing registration of DigiFinex. The trading platform started to list SXP and open the withdrawal and trade transactions on February 11. At present, SXP is currently listed on DigiFinex, Bilaxy, Kucoin, Bithumb Global, Bithumb Korea, Uniswap, CoinTiger, and IDEX trading platforms. Swipe & Chainlink Relationship Swipe announced its partnership with Chainlink, a decentralized oracle network provider, that will enable the Swipe platform to access Chainlink’s decentralized price feed oracles, particularly their ETH-USD Price Reference Contract, and a custom-built decentralized price reference network for SXP-USD, representing Swipe’s native token. Chainlink’s oracle solution will allow Swipe to create a stable, yet decentralized bridge between reliable off-chain prices and Swipe’s on-chain transactions. Multiple Chainlink oracles evaluate the same data point, thus eliminating one oracle being a single point of failure or absolute truth. Additionally, Swipe will use Chainlink’s ETH-USD price feed to cross-reference against the SXP-USD price feed to allow users to spend SXP directly on Ethereum Dapps. Last Chance to Win 7,000 SXP via WinPlay.App x Swipe From February 12 to March 4, 2020, Swipe will be giving away 7,000 worth of SXP to the top 500 participants on WinPlay.App, the rebranded version of Kucoin’s KuCoinPlay. Take part now for a chance to win your share! Contest Link: swipe.ws/winplayxswipe SXP locked in a Time-Lock Smart Contract audited by CertiK $78,927,344 of Swipe Tokens (SXP) are now officially locked in a Time-Lock Smart Contract audited by CertiK, a leader in smart-contract audits and formal verifications. With this lock, Swipe has moved over the Team tokens over a time locked period of eight years. Swipe has now deposited these tokens into a time-lock smart contract on Ethereum that has a programmatic release in accordance with the Swipe White Paper. Swipe has also worked with Etherscan to provide a nametag for this account under “Swipe: Treasury 3” so it’s easily viewable to all users. ---- Stay up-to-date with all the latest news from Swipe Website: https://swipe.io Twitter: https://twitter.com/SwipeWallet Facebook: https://facebook.com/Swipe Instagram: https://instagram.com/Swipe Medium: https://medium.com/Swipe Telegram: https://t.me/SwipeWallet & https://t.me/Swipe LinkedIn: https://www.linkedin.com/company/swipewallet YouTube: https://youtube.com/SwipeWallet
Bitcoin is slow because the block size was left at 1MB - 2MB with Witness Data on the SEGWIT network - after throwing the entire "team" developer of GitHub and being occupied by developers of what is now known as Blockstream. This size has been maintained and keeps referring to two issues: Mining in China and the decentralization of the nodes or transaction validators that you point out in the article. Mining in China occupies a good part of the pie that miners distribute - in turn these are the ones that confirm the transactions and undermine the blocks - since 2011 and these Chinese farms are behind something that in the West call "The Great Firewall "that prevents a stable connection and slows down the propagation of the block, its mining and confirmation of the transaction over 3 minutes   causing a large part of the mining coming from China and therefore the power of 'Hash' decreased drastically affecting the security of Bitcoin; The less Hash the greater the possibility of being attacked by the Bitcoin network through a 51% attack that could cause double spending - although this gives rise to many debates since the 51% attack on an already "mature" network like Bitcoin requires a Considerable expenditure on mining equipment to control 51% of the mining power and receiving the block reward and the commissions for confirmed transfer on each block would make it less likely that said miner or mining group would like to make a double expense upon receiving sufficient economic compensation. So only a malicious agent with the intentions of destroying the network and assuming the total losses on the investment of equipment would be willing to carry out such operation. Possibilities exist but these are reduced by being the miner compensated for their activity. In the same references to Chinese mining farms but in another more economical field; Bitcoin has 21 million that are obtained through mining and commissions on transfers. These 21 million are achieved over time and from there it becomes a deflationary element as there is no possibility of printing more coins. The question of the Bitcoin block costly and the influence of Chinese mining goes through the Bitcoin subsidy or, currently called as, block reward: When a miner puts a block in the chain he receives the Bitcoin reward that is "inside" "of that block and which is currently encrypted in 12.5. Every 210000 blocks the reward is reduced by half so in less than a year (312 days from today ) it will be reduced to 6.25 so the miners will see their subsidy fall in half unless Bitcoin's price per coin increases considerably or the mining farms begin to close or reduce mining equipment thus decreasing the power of the network's Hash. If Bitcoin reduces by half every 210000 blocks the subsidy per block to miners will come a time when they can only live and maintain their equipment for transaction fees and in a Bitcoin network with 7 transactions per second and a commission that tends to Increase the higher the number of movements in it makes it unfeasible for miners to continue in said 1MB network and above all that people want to use this payment method that is expensive and slow - more even than gold paper - Because remember that Bitcoin born as Peer 2 peer cash, not gold-. Therefore, if in time the subsidy or reward is going to be 0 or unable to cover the mining equipment expense, it is necessary to find a solution if the developers do not want to touch the block size. And this goes through three issues already raised in BIPs and about the community: RPF (Replace By Fee), Lightning Network and Increase in the number of Bitcoin since the demand for Bitcoin does not rise because it offers a quality service but for security and above all for the manipulation of Tether (USDT) and the large exchange houses: - The RBF consists in the substitution of a transaction without confirmations for another that would replace it with a higher commission eliminating the previous one of the mempool - the limbo of the transactions to be confirmed in Bitcoin -. Although this system seems effective, it does not eliminate the long-term problem of continuing to maintain the reduced block, but rather removes the problem of financing miners, but does not eliminate it and, above all, kills the operation of Bitcoin transactions by not eliminating the increase in commissions that would distance the user from its use. In addition to more easily allowing double spending  . - Lightning Network is a side-chain or second layer, that is, a software development not implemented in the Bitcoin network itself and therefore is not an element of the block chain so this should already be repudiated since being a External and non-auditable element such as Bitcoin gives rise to "blanks" and therefore lack of existence and possibility of auditing accounts  and even the loss of money or cancellation of the transaction  . It also faces the problem of routing since in a network in constant change with the openings and closures of payment channels it is unfeasible to establish a total and rapid diffusion to the nodes of LN - other than those of Bitcoin - so it comes into play Another new element of this network is the watchtowers in charge of ensuring compliance in open channels and over the entire LN network of payments. Obviously it requires an additional cost to hire this service and it is not yet implemented  and taking into account the pace at which Lightning Network is developed, it is doubtful that it will become available . In short, to use properly - which is not successful - LN you need a node valued at $ 300 , a watchtower, have a channel open 24/7 and with sufficient funds to carry out transactions    . - The increase in the Bitcoin offer was raised fleetingly by developer Peter Todd   and will become an open debate in a few years when the mining block reward is low and the price of Bitcoin cannot be sustained only with uncontrolled printing of Tether and the manipulation on the price of the currency   next to the collusion of the exchange houses headed by BitFinex  and personalities of the world 'crypto'  - if he survives long enough to see that moment since they are already behind Bitfinex for money laundering . When that moment arrives I am sure that a BIP - Bitcoin Improvement Proposal - will be launched by Blockstream or directly notified of the measure destroying the essence of Bitcoin and the TRUE DECENTRALIZATION: THE PROTOCOL. This brings us to the second reason for the slowness of Bitcoin. The correct and true decentralization goes through the code and the team of developers and maintainers, not any other. The protocol must be engraved in stone  and that the action of the miners distribute and decentralize the network and they maintain the nodes and the transactions in a completely capitalist economic relationship. Investing in machines and communication improves access, speed and spread of transactions and blocks and makes miners true competitors as well as facilitating the transmission of money and all kinds of transactions . The decentralization of the nodes was the other great reason to prevent the increase of the block and therefore the speed in the transaction. It is based on a false premise to base the decentralization of Bitcoin - which is nowhere on the whitepaper - on the raspberry nodes. The dispersion of the transaction and all the stages of the transaction and the blocks depend on the miner and his team, as well as the search for excellence in communications to avoid orphan blocks - which are stipulated in the Nakamoto consensus and are part of Bitcoin and not they throw no problem in the transactions only in the resolution of the reward of the block that affects the miners and should seek greater efficiency - and reorganizations. The audit on the Bitcoin network can be perfectly performed without there being a Bitcoin node in each house, in fact it would cause the same routing problems that occur / will occur in the LN network. Decentralization should not go through nodes but through developers and to a lesser extent by miners. If a protocol is continually being altered by developers they have the power of the network and it must be in constant struggle by the miners through the commission on transactions. Due to these two factors, the BIP0101 proposed by the developers that Satoshi left in charge  and that originated the creation of Bitcoin Unlimited was rejected, later it was attacked due to its recent creation through DDoS attacks in a statement of intentions of the network Blockstream bitcoin   remaining as a residual element. These two reasons are the cause of the drowning suffered by the Bitcoin network - including many other elements that were eliminated and that corresponded to the initial code completely changing the nature and destiny of Bitcoin that are not relevant and I will not enumerate -, Any other reason is propaganda by those who want to keep Bitcoin drowned in order to enrich themselves with mining sub-subsidies and second-layer software like LN. Bitcoin has a structure similar to gold and can collect certain attributes of it but its destination in efficient and fast transmission as effective - among other transactions. Bitcoin was designed to professionalize miners and create a new industry around them, so mining centers will become datacenters  and they will replicate all transaction logs and even this professionalization will eventually lead to specialization in other types of transactions born new industries around you that will support the nodes according to specialization - Data, asset transfers, money, property rights, etc ... - Bitcoin scales to infinity if they leave the protocol FREE enough to do so. P.D: Core, since the departure of Hearn and Andersen, they know perfectly well what they are doing: The worst breed from the Cyberpunk movement has been combined with the worst breed of the current synarchy; The ends always touch.  https://np.reddit.com/btc/comments/3ygo96/blocksize_consensus_census/cye0bmt/  https://www.youtube.com/watch?v=ivgxcEOyWNs&feature=youtu.be&t=2h36m20s  https://www.bitcoinblockhalf.com/  https://petertodd.org/2016/are-wallets-ready-for-rbf  https://www.ccn.com/bitcoin-atm-double-spenders-police-need-help-identifying-four-criminals/  https://bitcointalk.org/index.php?topic=4905430.0 https://www.trustnodes.com/2018/03/26/lightning-network-user-loses-funds || https://www.trustnodes.com/2019/03/13/lightning-network-has-many-routing-problems-says-lead-dev-at-lightning-labs  https://diar.co/volume-2-issue-25/  https://blockonomi.com/watchtowers-bitcoin-lightning-network/  https://twitter.com/starkness/status/676599570898419712  https://store.casa/lightning-node/  https://bitcoin.stackexchange.com/questions/81906/to-create-a-channel-on-the-lightning-network-do-you-have-to-execute-an-actual-t  https://blog.muun.com/the-inbound-capacity-problem-in-the-lightning-network/  https://medium.com/@octskyward/the-capacity-cliff-586d1bf7715e  https://dashnews.org/peter-todd-argues-for-bitcoin-inflation-to-support-security/  https://twitter.com/peterktodd/status/1092260891788103680  https://medium.com/datadriveninvestotether-usd-is-used-to-manipulate-bitcoin-prices-94714e65ee31  https://twitter.com/CryptoJetHammestatus/1149131155469455364  https://www.bitrates.com/news/p/crypto-collusion-the-web-of-secrets-at-the-core-of-the-crypto-market  https://archive.is/lk1lH  https://iapps.courts.state.ny.us/nyscef/ViewDocument?docIndex=8W00ssb7x5ZOaj8HKFdbfQ==  https://bitcointalk.org/index.php?topic=195.msg1611#msg1611  https://github.com/bitcoin/bips/blob/mastebip-0101.mediawiki  https://www.reddit.com/bitcoinxt/comments/3yewit/psa_if_youre_running_an_xt_node_in_stealth_mode/  https://www.reddit.com/btc/comments/3yebzi/coinbase_down/ https://bitcointalk.org/index.php?topic=532.msg6306#msg6306"
The former head of Venezuela’s Bolivarian National Intelligence Service has alleged that Venezuela is secretly mining cryptocurrency on a massive scale – to the extent that citizens are now experiencing frequent blackouts and power shortages. Per a report from media outlet Konzapata, Simón Zerpa, the former head of the intelligence agency, known locally as Sebin, the country has imported a number of USD 5,000 rigs from China under the guise of creating infrastructure for its own Petro token. In another article from the same media outlet, Zerpa also claims the crypto exchanges that accept Petro trading in Venezuela are all directly controlled by prominent figures within the government.
Binance has announced that it has opened Nigerian fiat naira-to-crypto trading. Per an official announcement, the company stated that it was now offering naira pairings with Bitcoin, as well as its own new American dollar-pegged BUSD stablecoin and the Binance Coin (BNB). Meanwhile, in the United States, Binance US has also announced that it has begun listing the Dogecoin cryptocurrency.
Cryptocurrency exchange Bittrexsays that the New York Department of Financial Services (NYDFS) has requested that Bittrex postpone the New York account closure deadline until further notice. Therefore, New York residents will be able to continue to withdraw funds, but may not deposit or trade on this platform. All trading for New York customers was halted in April 2019 and all account access was disabled in June by direction of the NYFDS.
An American man is attempting to sue carrier AT&T, reports ABC. The man claims that AT&T staff allowed a hacker to access his mobile phone number, leading to the theft of over USD 1.8 million worth of cryptocurrencies from accounts at a number of cryptocurrency exchanges. The man says he was the victim of a SIM swap sting which has deprived him of his “entire life savings.”
Police in Poland arrested president of Crypto Capital, aka Global Trade Solutions AG, Ivan Manuel Molina Lee, on accusations of money laundering as a member of the international drug cartel. According to W Polityce, he is wanted in Poland for laundering up to 1.5 billion zloty (c. USD 390 million) and laundering money for Columbian drug cartels through a cryptocurrency exchange. Meanwhile, Crypto Capital is accused by Bitfinex of losing USD 880 million of fund the exchange entrusted it with. As reported this week, the parent company of Bitfinex, iFinex Inc., has filed an application for discovery in the U.S. District Court for the Central District of Southern California on October 18, 2019. iFinex claims that the discovery concerns its attempts to recover the aforementioned USD 880 million which the company allegedly wasn't able to access from December 2018 at least.
The Deputy Chair of Russia’s upper house Constitutional Legislation Committee says there is an “urgent need” for the country to introduce blockchain- and cryptocurrency-related legislation. Per the country’s Parliamentary Gazette, the committee’s Lyudmila Bokova says the government’s regulatory framework cannot keep up with the pace of innovation.
Russia’s Central Bank says it is considering using blockchain technology to power a system of cross-border remissions that it wants to have active by 2023, per RBC. The bank wants to speed up its digitization process, but its governor and deputy governors remain bitterly opposed to cryptocurrency usage – favoring a total, China-style crackdown.
Japan’s Softbank, IBM Japan and TBCASoft (of the USA) have all joined forces to create a blockchain solution for mobile carriers using inter-carrier blockchain technology. Per Fisco, via Gentoshoa, the parties want to work on a new solution that would allow Japanese phone owners to use their mobile-based payment applications at stores overseas, and enable inter-carrier transactions.
Though adoption is far from widespread, a rising number of Americans own crypto, according to a survey of 2,068 participants commissioned by Finder, an independent comparison platform and information service. In the last year, the survey says, the number of respondents who own a cryptocurrency has almost doubled from 7.95% in 2018 to 14.4% in 2019, which is an increase of 81% in one year. The average total in crypto that each is holding is USD 5,447, while the median amount of crypto in American digital wallets is just USD 360, claims the survey.
ConsenSys Space, a subsidiary of blockchain company ConsenSys, has announced the launch of a new satellite tracker based on Ethereum’s network - a project called TruSat. According to their tweet, it is "a citizen-powered, open source system for creating a globally-accessible, trusted record of satellite orbital positions." The website further explains that TruSat is primarily designed to enable the assessment of satellite operations in the context of space sustainability standards, and that the software merges observations of a satellite from around the world into a transparent record of its location.
Bitcoin startup Coinplug raised KRW 7.5 billion (USD 6.4 million) in a Series B-2 round funding. According to the announcement, the investors taking part in this round were South Korea's influential venture capital firms Mirae Asset Venture Investment, Smilegate Investment and KB Investment. With this investment the company says its total funding to date is over USD 12 million.
SIBEX AG, developer of the peer-to-peer protocol, raised CHF 1.78 million (USD 1.79 million) in its seed funding round, with Fenbushi Capital, SIX, Accomplice and others taking part as investors, according to the press release.
You've probably been hearing a lot about Bitcoin recently and are wondering what's the big deal? Most of your questions should be answered by the resources below but if you have additional questions feel free to ask them in the comments. Some great introductions for new users are My first bitcoin, Bitcoin explained and ELI5 Bitcoin. Also, the following videos are a good starting point for understanding how bitcoin works and a little about its long term potential:
Limited Supply - There will only ever be 21,000,000 bitcoins created and they are issued in a predictable fashion, you can view the inflation schedule here. Once they are all issued Bitcoin will be truly deflationary. The halving countdown can be found here.
Open source - Bitcoin code is fully auditable. You can read the source code yourself here.
Accountable - The public ledger is transparent, all transactions are seen by everyone.
Decentralized - Bitcoin is globally distributed across thousands of nodes with no single point of failure and as such can't be shut down similar to how Bittorrent works.
Censorship resistant - No one can prevent you from interacting with the bitcoin network and no one can censor, alter or block transactions that they disagree with, see Operation Chokepoint.
Push system - There are no chargebacks in bitcoin because only the person who owns the address where the bitcoins reside has the authority to move them.
Low fee scaling - On chain transaction fees depend on network demand and how much priority you wish to assign to the transaction. Most wallets calculate on chain fees automatically but you can view current fees here. On chain fees have risen recently due to network demand however instant micropayments are on the way via the Lightning Network, a second layer scaling solution currently rolling out on the Bitcoin mainnet. You can even run a node on a Raspberry Pi :)
Borderless - No country can stop it from going in/out, even in areas currently unserved by traditional banking as the ledger is globally distributed.
Here is a listing of local ATMs. If you would like your paycheck automatically converted to bitcoin use Bitwage. Note: Bitcoins are valued at whatever market price people are willing to pay for them in balancing act of supply vs demand. Unlike traditional markets, bitcoin markets operate 24 hours per day, 365 days per year. Preev is a useful site that that shows how much various denominations of bitcoin are worth in different currencies. Alternatively you can just Google "1 bitcoin in (your local currency)".
Securing your bitcoins
With bitcoin you can "Be your own bank" and personally secure your bitcoins OR you can use third party companies aka "Bitcoin banks" which will hold the bitcoins for you.
If you prefer to "Be your own bank" and have direct control over your coins without having to use a trusted third party, there are many software wallet options here. If you want easy and secure storage without having to learn computer security best practices, then a hardware wallet such as the Trezor or Ledger is recommended. A more advanced option is to secure them yourself using paper wallets generated offline. Some popular mobile and desktop wallet options are listed below and most are cross platform.
Another interesting use case for physical storage/transfer is the Opendime. Opendime is a small USB stick that allows you to spend Bitcoin by physically passing it along so it's anonymous and tangible like cash.
If you prefer to let third party "Bitcoin banks" manage your coins, try Gemini but be aware you may not be in control of your private keys in which case you would have to ask permission to access your funds and be exposed to third party risk.
Note: For increased security, use Two Factor Authentication (2FA) everywhere it is offered, including email! 2FA requires a second confirmation code to access your account, usually from a text message or app, making it much harder for thieves to gain access. Google Authenticator and Authy are the two most popular 2FA services, download links are below. Make sure you create backups of your 2FA codes.
Mining bitcoins can be a fun learning experience, but be aware that you will most likely operate at a loss. Newcomers are often advised to stay away from mining unless they are only interested in it as a hobby similar to folding at home. If you want to learn more about mining you can read more here. Still have mining questions? The crew at /BitcoinMining would be happy to help you out. If you want to contribute to the bitcoin network by hosting the blockchain and propagating transactions you can run a full node using this setup guide. Bitseed is an easy option for getting set up. You can view the global node distribution here.
Just like any other form of money, you can also earn bitcoins by being paid to do a job.
You can also earn bitcoins by participating as a market maker on JoinMarket by allowing users to perform CoinJoin transactions with your bitcoins for a small fee (requires you to already have some bitcoins)
The following is a short list of ongoing projects that might be worth taking a look at if you are interested in current development in the bitcoin space.
One Bitcoin is quite large (hundreds of £/$/€) so people often deal in smaller units. The most common subunits are listed below:
1,000 per bitcoin
SI unit for milli i.e. millilitre (mL) or millimetre (mm)
1,000,000 per bitcoin
SI unit for micro i.e microlitre (μL) or micrometre (μm)
1,000,000 per bitcoin
Colloquial "slang" term for microbitcoin
100,000,000 per bitcoin
Smallest unit in bitcoin, named after the inventor
For example, assuming an arbitrary exchange rate of $10000 for one Bitcoin, a $10 meal would equal:
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I demand my 16k back from Bitfinex. Follow my legal struggles with them here.
I'll save you guys the hassle and give you a tl;dr first. You can scroll through my dealings with Bitfinex. Every post is on chronological order. If anyone is experiencing similar issues regarding the negligence of Bitfinex in the handling of the BCH hard fork, give me a direct message. I can help you to the details of my lawyer and we can even coordinate our efforts or just share our findings. I know some trolls here are p*** by Bitfinex to shut us up or make readers doubt what's going on here. Don't get distracted by them. They will come at me trying to discredit my story. Crypto exchanges think they can use us their clients as cash cows, but when they screw up, they don't even think twice about screwing you over. This is my story:
Bitfinex stated in a public announcement that all trading on BCH pairs would be stopped at 16:40 PM UTC on November 15th;
I started the morning of November 15th with about ~16k in equity on my margin account. I had been scalping throughout the morning/afternoon and had a position open just before the hard fork took place;
Bitfinex screwed up by allowing trading to continue after the hard fork time, causing the price to drop from $ ~430 to $ 250 as depicted in the chart below (Exhibit 0) in a few minutes time;
During the flash crash that followed (mind you, this happens after the hard fork at 16:40), I tried to close my position manually trying to market close the whole position of 100 BCH - their engine didn't allow the whole position to go through and only 40 BCH went through in increments of 10. As you can imagine they closed at prices wayyyy below the original base price, which was $ ~435 at 16:40;
But what happens next is where it gets interesting. After price hits $ 250, Bitfinex decided it was time to close my position and only reimburse 60% of my position in spot BSV / BAB (60 instead of the 100);
My account balance started showing weird numbers not making any sense (4.38 BAB and 4.38 BSV, ?!??). After a while my ending balance becomes: $ -13,875 | 60 BAB | 60 BSV. Which at current prices equals $ -13,875 + ( 60 x 129.19 ) + ( 60 x 75,34 ) = $ -1,603;
Numerous mistakes followed, the amount of negligence here is shocking, a response time unworthy of a legitimate exchange, among others, caused my account to go from a net account balance of $16k (my equity) to currently -1,6k (yes really!); and here comes the weird stuff;
BFX accepted their negligence and came up with the following proposal to reimburse me: $ -21,785 | 100 BAB | 100 BSV;
At current prices, this absurd proposal would amount to: $ -21,785 + ( 100 x 129.19 ) + ( 100 x 75,34 ) = $ -1,332. Meaning that I would still owe them 1,3k, for destroying my account balance; and
Mind blowing stuff.
Exhibit 0 1.Bitfinex announcement regarding the Bitcoin Cash Hard Fork
Snapshot Event at 16:40 PM UTC on November 15, all BCH balances to be frozen and BCH trading to be halted.
Exhibit 1 2. Day 1: E-mail received from Bitfinex, "Position nearing liquidation", at 16:42 pm (UTC) on November 15th
Remember, trading should have stopped at 16:40. It did not;
Date and time of e-mail received from BFX (see 1); and
E-mail content announcing that my position is nearing liquidation at 16:42 PM (see 2).
Exhibit 2 3. Day 1: Order history imported from BFX Ledger
I started trading on 15 November with a short position of 70 BCH, built up between 11:14 and 11:30 AM;
Closed position in profit between 12:07 and 12:35 PM;
Second position of in total 80 BCH short created between 13:13 and 13:18 PM;
Closed position in profit between 13:42 and 14:43; and
The third position is where everything wrong. Went long with 100 BCH, created between 13:47 and 13:58;
Market executed 4 x 10 BCH between 16:41:57 and 16:43:29 at average prices way below the settlement price (keep in mind that settlement should have happened at hard fork time: 16:40 and ~$ 435); and
I tried to market close the whole position but the system wouldn't allow it.
Exhibit 3 4. Day 1: Conversation started with BFX Telegram Admin shortly after on 15 November at 18:16 PM (UTC +1)
Conversation started after requesting to direct message an admin in the BFX Public Channel (from which I got banned on 19 November after ventilating my frustration about its incredible slow support service and how they could let trading continue; and
The conversation continues for a few days during which I give him all the information there is about what has occurred. Initially he tells me I received the correct amount, namely 60 BCH, not wanting to admit BFX screwed up badly here (you'll see that they admit to this eventually).
Exhibit 4 5. Day 1: Support ticket sent to BFX on Thursday 15 November at 17:26 PM
Ticket opened after TG Admin' suggestion; and
Requesting guidance regarding the BCH flash crash.
Exhibit 5 6. Day 2: Second e-mail to BFX Support Service at 17:23 PM on 16 November
I'm asking what to do with my negative account balance, which at the time was changing constantly with weird numbers that didn't make any sense;
Asking whether to settle the spot 60 BCH that was credited to me by selling them immediately or not do anything to prevent making things worse than they are; and
Notified Bitfinex Support of my conversation with TG admin, and requested to have the conversation added to the ticket.
Exhibit 6 7. Day 3: Initial reply by BFX to ticket received at 03:10 AM on 17 November
Initial reply by support indicates that 0 research was done regarding the situation. He just copy pasted my ledger, a copy which I had already sent their TG admin explaining why it was wrong. Have a look at the time of the ledger entries and it tells you enough ;);
Position was claimed at 17:03:54 (the snapshot should have been taken at 16:30) as stated by BFX itself; and
Wrong amount credited to my account, 60 instead of 100.
Exhibit 7 8. Day 3: Reply to previous e-mail on 17 November at 12:44 PM
My reply shows screenshots from my BFX ledger stating the following:
i ) trading continued wrongfully and snapshot time should have been 16:40;
ii) market executing 4 times 10 BCH between 16:41:57 and 16:43:29; and
iii ) trading after 16:40 PM should NOT have been possible, which this guy has trouble understanding.
Exhibit 8 9. Day 6: An apologetic reply by BFX (one of many): issue forwarded to relevant team, promises to 'get back soon' on 20 November at 03:33 AM
Reminder sent between day 3 and day 6.
Exhibit 9 10. Day 7: Reminder sent, requesting an indication for a reply, stating full reimbursement on Wednesday 21 November at 14:32 PM Exhibit 10 11. Day 9: E-mail by BFX: settling negative balances following BCH hard fork on Friday 23 November at 08:45 AM & reply Exhibit 11 12. Day 13: Reminder sent to previous e-mail received on Day 9, no information, just 'inundated with support requests regarding the BCH fork' on Tuesday 27 November at 22:00
What a shocker, I'm not the only experiencing this issue.
Exhibit 12 13. Day 20: Another apologetic e-mail, investigation continuing, promises to have a response shortly, received on Tuesday 4 December at 10:13 AM & Day 21: Answer to previous e-mail and requesting to have account reinstated, sent on Wednesday 5 December at 10:53 AM Exhibit 13 14. Day 23: No info besides 'explanation takingslightlylonger than anticipated on Friday 7 December at 11:38 AM & Day 28: Another reminder sent on Wednesday 12 December at 10:24
Of course they aren't stalling for time...
Exhibit 14 15. Day 29: Proposal in progress, "continue to trade", will not affect decision and proposal by further actions on the platform on Thursday 13 December at 10:52 AM
Account balance is still negative, their suggestion to continue trading would mean that I would have to add back 4k from my own money to get to a net account balance of 0 (see Exhibit 17);
Only any additions after that would allow me to be able to trade again ([email protected]#!$); and
Meanwhile my 'Net trading balance' sits at -4,087.07, yes really ([email protected]$), numerous reminders followed.
16. Day 38: Proposal finally in my inbox. What follows is an admittance of guilt and the proposal to settle. Looks like a happy end right? Not so fast. Proposal received on December 22nd at 09:33 AM & Day 39: Requesting confirmation of the stated reimbursement, sent on 23 December at 13:02 The highlights are:
"Your BCH position was claimed at an incorrect time..... being claimed at an incorrect base price.";
"...you were credited far less.... than should have been";
"...orders after the 16:40:00 timestamp should not have gone through.";
Your USD balance prior to the claim was 16,042 USD; remember this?; and
"In light of this error".
This initial offer would mean: $ -7,603 + 100x130,11 + 100x75,96 = $ 13,004. That's still 3k less than my initial account balance before this shit show. But alright, it looks like we're getting somewhere right?
Exhibit 16 18. Day 44: "it seems I misspoke in my previous outline", how many screwups are possible? Received on 28 December at 04:57 AM Exhibit 17 19. Day 54: Demand letter by my lawyer sent on 7 January at 13:10 & Day 55: Quickest reply I've ever seen from BFX, wow. Received on 8 January at 02:37 AM & Day 61: E-mail by lawyer requesting my account balance to be reinstated to $ 16,042 (my equity before they screwed up). Sent on 14 January at 14:52 PM
My lawyer sent a demand letter requesting my $$$ back;
10 day deadline given;
Response by BFX is the quickest I've ever seen from them during the past 2 months; and
They are trying to bury us in details here, mostly details that aren't of any importance. I'm a Finance as well as Financial Law major. I (heart) details.
Exhibit 18 20. Day 69: Lawyer BFX replies with "I trust that this comprehensive explanation of the proposal will satisfy your client's concern and we can move to wrap up settlement of this matter"
This, redditors, is called stalling for time by their lawyers:
Exhibit 19 You know the weird part in all of this. When, not if, the Supervisory Board of iFinex finds out it has several investigations going on against them - because of a mere 16k - they are going to have a field day with these people, mark my words.
Why Taking Profit in USD-backed Stablecoins Can Be Dangerous
For the whole year of 2018, the crypto market kept moving on the same downwards direction. Every time a new low was reached, people thought it to be the last one because crypto seemingly couldn’t fall any further – and yet it did, every time. Almost all the “dumb money” eventually accepted their losses and left the market. And just like it always happens, at that very moment when there was nobody left willing to sell, the trend finally turned bullish. The new spurt of growth was generated by the smart money, and as the trend unfolded, more and more of that smart money entered the market. After Bitcoin easily passed the $10,000 mark, dumb money started returning – meaning the same people who sold their BTC last year for a price situated between $3,000 and $10,000. As people are buying BTC for $10-11k, there must be a counterparty behind each deal who is ready to sell bitcoin at this price. This way, the smart money is taking profit – and by the standards of the traditional asset market, this profit is huge and very quick. The question is, where does all this money go? Part of the profit is withdrawn as fiat, whereas the other part is exchanged for stablecoins (often BTC is sold for stablecoins directly), the most popular being USDT (Tether). Why do investors do this? Withdrawing profits in USDT is usually subject to lower fees than fiat withdrawals. Moreover, investors understand that this way, they simply store their money in stablecoins waiting for a better market entry point in the future – for instance, during a Bitcoin correction, or once a solid buy signal for another coin is generated by a technical analysis pattern, or when some fundamental market conditions change. Clearly, it makes no sense to withdraw money in fiat just to deposit it in fiat again later and pay a double commission. Caution: locking in gains in USDT has its hazards First of all, if you store your profits in USDT, they will just lie there idly, slowly eaten up by inflation. There is a more serious issue, though. For all these years that USDT has been on the market, we were convinced that it was 100% backed by US dollars. Skeptics kept telling us that it wasn’t - and turned out to be right, as we’ll soon see. But at the same time, Tether kept proving the opposite, even demonstrating with their bank account statement, storing the necessary amount in USD - what’s more, the banks confirmed that information. However, all that time a storm was brewing – and when it finally broke out in April 2019, it wasn’t Zeus launching the thunderbolts at Tether, but rather the New York Attorney General. An old story surfaced, having to do with behind-the-scenes relations between Tether Limited, which issues USDT, and Bitfinex, one of the largest cryptocurrency exchanges. The Attorney General’s office accused Bitfinex of having hidden the fact of losing circa $900 million in assets – its own and its clients’. How did the exchange manage to do that? Apparently, they found an easy and elegant solution involving a line of credit from Tether. According to the investigation, Tether loaned over $700 million to Bitfinex; and neither the clients of the exchange, nor those of Tether were informed about this key decision. This means that for quite a while, USDT was backed by USD only by 70-80%, while the rest was secured only via DigFinex shares issued to Tether by Bitfinex. This example shows that one cannot fully trust stablecoins backed by a fiat currency. Such situations cannot be prevented by any audit, since company owners can transfer money from one bank account into another at any given moment. The market abhors a vacuum and looks for a solution Stablecoins backed by physical assets can present a solution – for instance, GOLD, issued by the company DIGITAL GOLD. It differs from USDT in two important ways:
GOLD is not pegged to any fiat currency or a portfolio of currencies (as proposed by Facebook’s recently-announced Libra) – rather, as you can guess from the name, it is pegged to gold.
The crucial advantage here is that the token is not backed by some exchange-traded gold futures contract or shares of gold-mining companies, but by actual physical gold. DIGITAL GOLD first purchases the precious metal on the open market, then transfers it into the vault belonging to BullionStar – a leading provider of asset storage solutions based in Singapore. The terms of the contract precludes taking the gold out of the BullionStar vault (so that it cannot be transferred to anyone else as Tether did with Bitfinex). The gold can only be sold in the open market again if the supply of GOLD tokens that DIGITAL GOLD buys back (acting as the market maker) significantly exceeds the demand. In this case, part of the gold will be sold, and a proportional part of the tokens will be taken out of circulation. The presence of physical gold in the BullionStar vaults is confirmed by both internal and independent external audits. Investors can rest assured that at any moment, 100% of the GOLD tokens are backed by real gold.
Unlike USDT, GOLD tokens will grow relative to USD and other fiat currencies as the price of gold itself grows. This is particularly relevant now, as the US Federal Reserve is relaxing its financial policy. As recently as 6 months ago, the Fed was planning to raise interest rates twice until the end of 2019. Three months ago, however, the Board announced that there will be no further raises this year. Now, rumors say that the rate will be actually lowered at least once.
The effect of the Fed’s decision: on Monday, June 24, the price of gold reached a new 6-year high. We can safely assume that the trend will continue, as a huge amount of unbacked fiat money across the globe is looking for a solution against inflation – and finds it in gold, which has always been the simplest and most reliable method of preserving value. For these reasons, buying GOLD tokens as opposed to USDT is much more than a diversification tactic. In fact, it is the most logical solution, which allows you to not