cryptocurrency – Page 44 – BOL News Staging

Bitcoin Depot announces the launch of its new mobile app

August 26, 2021August 26, 2021 by Syed Ahad

Globally leading and fastest-growing crypto ATM network, Bitcoin Depot, publicized the launch of its new mobile phone application for iOS and Android.

The new app shows Bitcoin Depot’s assurance to provide a protected and best crypto wallet experience for customers.

Bitcoin Depot has raised up its position in the market by providing clients with a suitable crypto wallet application to purchase, sell, and exchange the world’s best cryptocurrencies within minutes.

The application also allows customers to rapidly trace the nearby Bitcoin Depot ATM through an easy procedure.

Brandon Mintz, CEO & President of Bitcoin Depot, stated,

“As Bitcoin Depot continues to expand, we’ve made it a goal to meet consumers where they are so they can make informed choices about crypto and stay in the loop on industry trends wherever and whenever,”

Mintz further said,

“We’re excited to offer an easy way for users to manage their crypto, and we’re dedicated to providing a secure, encrypted experience so that customers can buy, sell, and exchange their digital assets with peace of mind.”

The wallet provides customers a unique PIN code so that the customers can store cryptocurrency safely. It provides customers with access to unique promotions as well as useful resources such as the recent trends.

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PayPal has expanded its cryptocurrency services to UK customers

August 24, 2021August 24, 2021 by Syed Ahad

Customers in the United Kingdom can now use the cryptocurrency services of PayPal. As per the PayPal platform, UK customers can purchase Bitcoin (BTC), ether (ETH), Litecoin (LTC), or Bitcoin cash (BCH) for as low as £1.

The step is the first global growth of its cryptocurrency services. Paypal will remain to utilize regulated crypto company Paxos for its services in the United Kingdom.

The service does not support PayPal business accounts. Clients are also required to verify their ID in order to become qualified for the service.

Head of PayPal’s crypto and blockchain division, Jose Fernandez da Ponte said, “We are committed to continue working closely with regulators in the U.K. and around the world to offer our support and meaningfully contribute to shaping the role digital currencies will play in the future of global finance”.

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Cryptocurrency adoption globally increased

August 23, 2021 by Syed Ahad

Globally the adoption of cryptocurrency is increased by 880% in the last year as Vietnam, India, and Pakistan have become the quickest crypto adopters.

“Geography of Cryptocurrency,” the company’s 2021 Global Crypto Adoption Index, differentiated the countries’ cryptocurrency adoption based on three main parameters, on-chain retail value transferred, the on-chain crypto value received, and peer-to-peer(P2P).

The number one country on the overall index is Vietnam in the adoption of cryptocurrencies, And India(0.37), Pakistan (0.36), Ukraine (0.29), and Kenya (0.28) followed it.

Pakistan and India come in the top ten on the list.

Economies play a great role in the increase in the adoption of crypto.

The report wrote “Several countries in emerging markets, including Kenya, Nigeria, Vietnam, and Venezuela rank high on our index in large part because they have huge transaction volumes on peer-to-peer (P2P) platforms when adjusted for PPP per capita and internet-using population,”

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Bitcoin breaks back over $50,000 On Monday.

December 10, 2021August 23, 2021 by Web Desk

Bitcoin broke back above $50,000 on Monday for the first time in three months, as investors piled back into the cryptocurrency on bargain-buying, AFP reported The unit climbed around 2 per cent to $50,249.15, its highest since the middle of May, when it began tumbling on a range of issues, including China‘s crackdown on crypto-currencies … Read more

Busta Rhymes is owning Bitcoin and wants to be paid in it

August 21, 2021 by Syed Ahad

Busta Rhymes an American rapper is seeking to get paid in (BTC) bitcoin. He posted a tweet, asking his fans about their favorite coins and which coins are best for investments. He gets lots of suggestions about the coins.

For the rapper, the information is not enough for him and he becomes more curious. After seeing the curiousness of the rapper about BTC, Bitcoin maximalist and Twitter CEO Jack Dorsey pointed the rapper to a website containing a black host, and then Michael Saylor of MicroStrategy drag the attention of the rapper to his own information hub; Bitcoin is Hope.

The rapper posted in which he shows gratitude for the help and constantly posting about cryptocurrency asking more about the crypto market fluctuation, and how cryptocurrencies get their rate.

He became more curious about it that why cryptocurrencies are not taught in the schools so that the children can be more aware of them.

Finally, after researching about crypto, he tweeted that he was sold out on Bitcoin, but this did not stop here, he is now looking to invest in (ETH) Ethereum. After seeing the B-Word conference, which included Jack Dorsey, Elon Musk, and Cathie Wood.

A tweet was posted by Rhymes in which he was researching about accepting payment in BTC. He elaborates that he was thinking about getting paid in BTC for his shows, and also for business dealings.

GOOD MORNING!

thinkin about gettin’ payment in #Bitcoin for shows and future business dealings.
Should be easier to do right ?

— Busta Rhymes (@BustaRhymes) August 19, 2021

After watching the B-Word conference he now holds bitcoin. Rhymes posted on Twitter.

Also want to thank @elonmusk @jack @CathieDWood for the live videos event they did on #Bitcoin.
Bought in that day and so grateful that I did. 🚀🚀🚀

— Busta Rhymes (@BustaRhymes) August 19, 2021

Accepting Bitcoin as payment for services is no longer a new thing for celebrities. The transfer of football sensation Lionel Messi to PSG included a portion of the player’s earnings being paid in cryptocurrency.

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Novi Digital, a cryptocurrency wallet soon to be launched by Facebook

August 21, 2021August 20, 2021 by Syed Ahad

Facebook grapples with another global outage

Novi Digital, a cryptocurrency wallet that will be introduced soon by Facebook. The wallet would be tied to the Diem Blockchain system.

Board member of Diem and Facebook’s financial services chief, David Marcus, claimed that the current cash-run economy has left 1.7 billion persons “unbanked or underbanked” and still the procedure is really slow.

Marcus stated, “Change is long overdue. It will happen in one way or another. Novi is ready to come to market. We feel that it’s unreasonable to delay delivering the benefits of cheaper, interoperable, more accessible digital payments,”

The launch of the Diem program was planned for the first half of the year 2021, however, the reason for the delay is due to the government Facebook inquiry.

Diem, formerly known as Libra, is a stable coin that converts money transferred to a digital wallet into digital cash and makes it simple to transmit money over the world.

With more than $100 billion costs of transactions in 55 currencies, Facebook, as a payment platform has already been made.

“It’s a misconception that digital assets are by definition anonymous. Built and configured the right way, stable coins and wallets put customer due diligence at the center of their approach to compliance.” Marcus wrote.

As per the post, the firm is trying to meet the terms with the regulators. “It has addressed every legitimate concern that was raised on its journey to design and build a high-quality stable coin”

He added, “This is with extensive consumer protections, and a highly compliant payments network to support it all within the U.S. regulatory perimeter.”

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Coinbase will buy $500M of crypto, Brian Armstrong announced

August 20, 2021 by Syed Ahad

As per the announcement of Coinbase, it will buy $500M of crypto and Invest 10% of all future revenues in cryptocurrency.

Through tweeter, the announcement was made by CEO Brian Armstrong.

We recently received board approval to purchase over $500M of crypto on our balance sheet to add to our existing holdings. And we'll be investing 10% of all profit going forward in crypto. I expect this percentage to keep growing over time as the cryptoeconomy matures.

— Brian Armstrong (@brian_armstrong) August 19, 2021

Coinbase is one of the top crypto exchanges and in the businesses, the company has some of the great brand-name gratitude. The company is going all-in on the technology it provides, with a huge one-time expenditure as well as a major recurring investment.

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Liquid, a Japanese crypto exchange got hacked and faces a loss of $94M

August 20, 2021 by Syed Ahad

After the hack on Poly Network, a Japanese crypto exchange Liquid also got hacked and faces a loss of more than $94 million.

“We are sorry to announce that #LiquidGlobal warm wallets were compromised, we are moving assets into the cold wallet,” it said on Twitter, adding that deposits and withdrawals were suspended.

Liquid later stated that it was tracing the assets’ transfer and collaborating with other exchanges to freeze and restore cash.

“Warm” or “hot” digital wallets are usually web-based and are meant to make it easier for users to access bitcoins. “Cold” wallets are offline and more difficult to access, making them more secure.

Elliptic, a London-based blockchain analysis firm, said the thief’s digital addresses had received more than $94 million in digital currency, including about $31 million in ether, $5 million in bitcoin, and $13 million in XRP.

Elliptic reported that $45 million in tokens related to the Ethereum blockchain were also taken.

The hacker or hackers is converting some of these tokens to the ether cryptocurrency through decentralized – peer-to-peer – exchanges, it added.

Elliptic said it was aiding Liquid in tracking the stolen funds.

Liquid is the new exchange in japan that was majorly hacked.

Liquid operates in more than 100 nations and serves millions of clients globally. It stated.

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Bitcoin is now considered virtual property by a Shanghai court

August 18, 2021 by Syed Ahad

The Minhang District Court of Shanghai confirmed Bitcoin to be a virtual asset under Chinese law. This isn’t the first time that the court has ruled that cryptocurrency assets should be protected in regard to Chinese regulations on property ownership.

As per the court, cryptocurrency meets the virtual property condition since it is precious, scarce, transferable, and disposable.

This time, the court case involved a litigant who purchased Bitcoin mining machines from the defendant through the Internet. But with the People’s Bank of China (PBOC) cracking down on cryptocurrency mining, the litigant believed the transaction was illegal. The litigant then asked for a refund claiming that the contract was invalid.

Now, the court case involved a litigant who bought bitcoin mining machines from the defendant via the Internet. But the People’s Bank of China (PBOC) cracked down on corrupt crypto mining, claiming the transaction was illegal. The litigant then demanded a refund, claiming that the agreement was invalid.

But the court said the bitcoin had virtual commodity features, so the sale and purchase agreement was valid, and the court prohibited the litigant’s claim.

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United States offers $10 million who provide suspected hackers information

August 18, 2021 by Syed Ahad

Get $10 million by providing information on suspected cyber terrorists, extremists, and state-sponsored hackers, an offer is made by the United States government.

U.S. State Department created a platform named “Rewards for Justice (RFJ)” for the individual who provides anonymous tips and information in return for rewards in digital assets. The informants have the option of receiving pay in cryptocurrency or not.

On the site, people submit tips using an unsecured Wi-Fi network named #RewardsnotRansoms, which was advertised at a Black Hat event in the United States in Las Vegas.

Users can log in and access the Rewards for Justice Website due to the open network.

The initiative was described as ‘the U.S. government’s most public foray into crypto assets’ by Former Director of the U.S. National Counterintelligence and Security Center William Evanina.

Although tips are already rolling in, one State Department official noted that cyber-enforcement activities are typically delayed, noting that:

“We are receiving tips. We are evaluating tips. We’ll share those tips with the interagency partners. They must then use that information and reach out and begin their investigation”.

Another official said:

“I think this offer of cryptocurrency is something that we will be using in the future for other types of rewards. It could encourage other types of sources to come to us with information who may not have wanted to come to us before”.

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Gold vs. Cryptocurrency Investments: What’s the Difference?

August 17, 2021 by Syed Ahad

If you’re new to investing and can’t decide between gold and cryptocurrency, here are some key distinctions to consider:

Ownership Structure

There are various types of gold and every type is dependent on its weight. Customers on a limited budget can purchase a little over a 1-gram bar, whereas wealthy customers can purchase 1-kilogram weights.

Crypto is a digital asset. If a person wants to invest in crypto, he will need a digital wallet to store it or keep it on a payment service for safety.

Supply

Although gold is a unique precious metal with a finite supply, it does not have a finite quantity because new gold mines are continually being discovered globally.

Whereas each cryptocurrency has a limited supply. Whether it’s pre-mined or mined, once the full supply has been mined and given to its users, the value will be solely determined by the market cap and customer needs.

Volatility

Gold is not as dangerous as cryptocurrency. Investors see the history of gold before investing. Gold provides less profit as compared to cryptocurrency, but they are safe for many.

While cryptocurrency shows volatility. New cryptocurrencies are brought to the market while existing ones compete to retain or increase their market value. There are some cryptos whose price will rise shortly after their launch date but will then drop in value hours later.

Taxes

If a person has a gold bar or coin collection in his possession, he may be subject to taxes on his investment.

In most countries, cryptocurrency does not have any taxes, but in future, it may have taxes because few countries are discussing taxing cryptocurrency just like they tax other investment and property assets.

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Crypto retakes $2 trillion market cap amid Bitcoin gains

August 16, 2021August 16, 2021 by Web Desk

NEW YORK: The total market value of cryptocurrencies rose above $2 trillion again, as Bitcoin continued to climb and the likes of Cardano, XRP and Dogecoin advanced, as well, Gulf News reported. The crypto’s market value rose to $2.06 trillion on Saturday, according to CoinGecko, which tracks more than 8,800 coins. Bitcoin reached as high as $48,152, … Read more

Binance get order to identify and freeze hackers accounts

August 13, 2021 by Syed Ahad

Binance has been ordered by the high court of the UK to investigate the hackers who robbed $2.6 million from Fetch.ai and freeze their accounts.

The amount of money is lesser than the amount compared to the recent hack of Poly Network, it is one of the first public cases involving Binance and will be a litmus test for English courts and their abilities to combat fraud on cryptocurrency platforms

A spokesperson from Binance confirmed that the company was helping Fetch.ai to recover its assets. They went on to say:

“Binance routinely freezes accounts that are identified as having suspicious activity occurring in line with our security policies and commitment to ensuring that users are protected while using our platform.”

Binance warned Fetch.ai that it had seen strange activity on their account. Binance already freezes some of the money for safety, the hacker was able to sell some of the assets, but only for a third of the original amount.

The result of the hack on the Poly network and this case shows that it is becoming extremely hard for hackers to hack into accounts, rob cash, and keep it.

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Titan introduces portfolio of crytocurrency for U.S. clients

August 11, 2021 by Syed Ahad

Titan, a U.S. investment adviser introduce a modern crypto offering for U.S. investors, providing market members to access digital currencies such as ETH and BTC.

The modern Titan crypto portfolio pursues the investors to invest in cryptocurrencies that have the potential to outperform in the long run. The portfolio is overlooked by titan’s crypto team and is also available for U.S. citizens who live outside the state of New York.

Earlier, Titan has raised $75 million in total capital, including a $58 million Series B round headed by Andreessen Horowitz. Despite the fact that the funds obtained were not primarily towards Titan’s crypto firms, Cointelegraph told by a representative at the company that these funds will assist titan’s cryptocurrency offering “well beyond the flagship coins and behaviors,” mentioning to BTC and ETH. For upcoming growth DeFi coins is one avenue, the representative recognized.

For the most successful cryptocurrency campaigns, Andreessen Horowitz has been a part of. A company that is based in California newly launched a fund that worth $2.2 billion devoted to cryptocurrency plays and blockchain, Cointelegraph reported.

Among the largest funding phases have targeted crypto exchanges and other service providers that are giving old onramps on the investments of digital currency. There is mounting evidence on the institutional front that many of the investors have been rising their experience on digital assets.

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Poly network gets hacked and faces a loss of $600 million

August 11, 2021August 11, 2021 by Syed Ahad

Poly Network is decentralized finance (DeFi) firm, which publicized that hackers were able to steal much more than $600 million costs of several cryptocurrencies managed on the Binance Smart Chain, Ethereum, and Polygon blockchains.

This could be one of the biggest cryptocurrency-related heists.

If the total of that $600 million in assets managed on those chains was in fact cooperated. Poly Network didn’t share data about how much was stolen, but it did share the types of cryptocurrency taken by the hackers, CoinDesk reported.

Among those on the list are, Wrapped Bitcoin (WBTC), Wrapped Ethereum (WETH), RenBTC, Dai, Uniswap (UNI), Shiba Inu (SHIB), FEI, and USD Coin (USDC).

Poly Network public a list of wallets related to the theft and advised “miners of affected blockchain and crypto exchanges” and also “token issuers” to “blacklist assets coming from” those addresses to avoid the stolen coins from being spent. At least some of those groups, such as Tether, have fulfilled that demand.

According to a study conducted by CipherTrace, Poly Network’s statement came just after Reuters informed that “losses from theft, hacks, and fraud” in the DeFi industry touched “a record $474 million from January to July”. Over the course of a single morning, this hack might have more than doubled those figures.

“HsakaTrades” stated that the hacker is tipping individuals who offer them beneficial info, and showed that many individuals are texting the hacker to toast them on the theft. But then some of those celebrations might have been sudden. Much of the reaction to this hack has played out on Twitter.

Blockchain Security Company called SlowMist claimed to have “tracked down the attacker’s ID” also “their email address, IP information, and device fingerprint”. It didn’t take much time before the hacker pressured them to return what they stole and then were pressed criminal charges for the theft.

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Bitcoin to be soon accepted by this movie theater chain

August 10, 2021 by Syed Ahad

American movie-goers can soon use bitcoin to pay for tickets and allowances, AMC announced. For online purchases at U.S. theaters, Apple Pay and Google Pay will also shortly be accepted.

During the company’s earnings, call CEO Adam Aron said to investors that,

“I’ve had to learn more in the past six months about blockchain and cryptocurrency than I learned about it in the entire decade before that.”

Adam hopes the company can become more involved “in this new burgeoning cryptocurrency universe” and leadership is “quite intrigued” by the business opportunities it involves.

AMC shares went up 5.3% in after-hours trading and bitcoin went up 5.5%.

The shares of AMC went up by 5.3% in after-hours trading and bitcoin went up 5.5%.

The movie theater firm has had a distinctive year as it discovers the best ways to re-open following covid-19 lockdowns. The stock jumped to $12.77, In May. Afterward, AMC Entertainment Holdings publicized it raised up over $400 million through a 43 million share at-the-market equity offering.

To discuss the event Individual investors on Reddit and social media used the #AMCSqueeze hashtag.

AMC garnered important hype on Reddits r/WallStreetBets forum, whose members bought up AMC stock at the same time they were creating headlines for their big bets on businesses like GameStop.

“Just go on Twitter, just go on Reddit, just go on YouTube, read what these people write,” at the time Aron said.“They love AMC. And these are not people who are just going to be investors in AMC. These are going to be customers of AMC who come to our theaters and enjoy watching movies at our theaters as paying guests.”

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Libya is the first Arab country to mine bitcoin

August 8, 2021 by Syed Ahad

The CBECI (Cambridge Bitcoin Electricity Consumption Index) data shows that in the Arab world, Libya ranked first with 0.13% of global mining. This followed the uproar over Bitcoin mining in Libya and its link to the country’s electrical situation.

Following is the ranking of the Arab countries:

Libya is in 1^st place, with a 0.13 percent share.

UAE and Kuwait are in 2^nd place with a 0.08% share for each nation.

Egypt and Jordan are in 3^rd place with a 0.04% share for each nation.

Lebanon ranked 4^th with a 0.01% share.

In particular, the price of Bitcoin in Libyan dinars is 192,912.13.

Bitcoin mining is the method by which new bitcoins are entered into the flow. It is also a critical factor in the maintenance and development of the blockchain ledger. It is executed using very sophisticated computers that resolve enormously complex computational math glitches.

Cryptocurrency mining is difficult, expensive, and only intermittently rewarding. However, mining has an attractive appeal for many investors involved in cryptocurrency because miners are satisfied with their work with crypto tokens. This may be for the reason that entrepreneurs see mining as “pennies from heaven”.

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JPMorgan (JPM) Starts In-House Btc Fund for High-Net-Worth Clients

August 5, 2021 by Syed Ahad

JPMorgan JPM offers an in-house passively managed bitcoin fund to its Private Bank wealth management clients. CoinDesk reported that the sale is being conducted in collaboration with bitcoin powerhouse New York Digital Investment Group (“NYDIG”), citing two sources familiar with the subject.

Stone Ridge’s alternative asset manager, NYDIG, is a business. It offers stable custody, execution, asset management, and other institutional-grade infrastructure.

CoinDesk first reported on the new fund in late April. According to sources, the fund has still to receive any customer investments, and JPMorgan only recently held a launch call with advisers.

According to sources aware of the situation, advisers will pitch the fund to clients as the safest and lowest bitcoin investment instrument available on the private markets. The fund “would also act as an easy port over to a bitcoin exchange-traded fund (ETF).”

JPMorgan’s decision to delve deeper into the world of cryptocurrency is notable because its CEO, Jamie Dimon, has always been anti-crypto.

Dimon has expressed his reservations about digital assets and the cryptocurrency industry. He claimed in May that, “I am not a Bitcoin supporter, I don’t really care about Bitcoin. On the other hand, clients are interested and I don’t tell clients what to do.”

Despite Dimon’s persistent criticism of the cryptocurrency sector, JPMorgan is becoming more open to the cryptocurrency world.

According to Business Insider, the bank provided its wealth management clients access to bitcoin and other cryptocurrency money last month. Through advisors, it has offered its clients access to buy and sell five cryptocurrency products.

JPMorgan’s stock has gained 19% this year, compared to the industry’s 24.5 percent gain.

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