Category: Crypto News

Popular cryptocurrency exchange, Bitfinex has issued a warning to all their users via email that individual residents of USA are not allowed to use their services and access to exchange services will be terminated soon. Bitfinex has prohibited access to US residents and are not allowed to do any kind of trading on the exchange. So if you are a US resident, we urge you to move your funds to other exchanges. If you are a non-US unverified user, get your account verified before the exchange bans you and confiscates your funds. Binance is a good alternative.

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Income Tax department is trying its best to tax the bitcoin owners in India. The department has already visited the premises of top cryptocurrency exchanges in Delhi, Gurugram, Bengaluru, Hyderabad and Kochi and asked them to share the identities of investors / traders, transactions done by them and their bank accounts. This survey was done under 133A of Income tax act to gather evidence for establishing the identity of investors and traders, transaction undertaken by them, identity of counterparties, related bank accounts used, among others.

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RCN has undergone partnership with Kyber Network. RCN promises to improve world’s access to digital payment alternatives. RCN is a peer-to-peer global credit protocol that uses cosigned smart contracts to connect lenders and borrowers anywhere on the globe on any currency. This has the potential to democratize and grow the digital economy by increasing credit access for borrowers, neutralizing default risk for lenders, and reducing asymmetric information between network agents. This will help improve livelihood of children.

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There are two ways to make money – one is honest way and another is by cheating. Unfortunately, scammy Indian ICOs are on the rise. Meet Hirebits, which was pointed by a reddit user bacontoralpha. He says that their whitepaper is full of red flags and indeed it is. There is no legit company behind the ICO and looks like they are just raising money to pull another Confido-like scam.

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NiceHash has announced on their official reddit page that the NiceHash payment system was compromised and all the bitcoin stored in their wallet has been stolen. They are still working to know the precise number of bitcoin but sources have told that around 67 million dollars worth has been stolen. The company has already reported this matter to the relevant authorities and working to restore the NiceHash service with highest security measure at earliest opportunity.

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Bitcoin has been banned and called illegal in India many times already by Indian government and Reserve Bank of India (RBI). Today, India’s central bank, RBI again issued a strong warning about bitcoin and associated risks of investing in cryptocurrencies in general. The bank said that the users, holders and traders of crypto currencies should understand the potential economic, financial, operational, legal risks.

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Withdrawal limits from CEX.IO to your MasterCard cards have been increased. For this, you need to have one of these account types – verified, verified plus and corporate. After that, you can withdraw up to $5,000 per one transaction. If you are not verified yet, take a chance to increase your limits by simply passing the verification process. The platform will charge the commission of 1.2%+$3.8 per transaction.

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Most blockchains still have a single-tiered network where the wallet and server are one in the same at the core level. The original NEM architecture was one of the first to efficiently design and utilize a two-tiered network.  Project Catapult is the first ever announced network using Three. The lead developer working on Catapult told that; older blockchains scale linearly, one server serves only a certain amount of clients.

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Bitcoin Cash trading is now live on Bitstamp which is one of the most popular cryptocurrency exchanges in world. It is being referred to as Bcash on their website and the entire crypto twitter cannot help but take jibe at the Bitstamp statement “..to help avoid confusion between Bitcoin and Bitcoin Cash, please note that we refer to Bitcoin Cash as “Bcash (BCH)” on our platform.” To kick things off, Bistamp will not be charging any fee until 31^st of December 2017.

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Monaco tokens are now being traded on five new new crypto currency exchanges which includes BigOne, EXX, Huobi, OkEx and Upbit. This will increase the liquidity and access of the Monaco’s MCO token to more than 5 million new users. The Monaco token is already being traded on Bittrex, Binance, EtherDelta, Liqui, Livecoin, and YoBit. You can already trade, deposit and withdraw Monaco tokens on the new exchanges.

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