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Cryptocurrencies To Offer Independence From Banks: Is This The Future?

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The mainstream acceptance of Bitcoin and other cryptocurrencies has been a trending topic recently. However, it is still something that stands up on the precipice of the economic independence of the currencies and their acceptance from legal institutions and banks.

Originally, the idea behind Bitcoin was to create a currency that is decentralized which means without any authority. Which also means that only you get to see who you send money to – and only the receiver knows that he is got money from you. These encrypted peer-to-peer transactions are recorded on the public ledger known as the Blockchain.

What was small a couple of years ago is now a leading technology that has completely changed in less than a decade. Bitcoin has been hitting the $11,000 mark this week and its increasing value has not gone unnoticed from these financial institutions. Even though some people claim that the entire thing is a bubble, the Bitcoin futures are being considered by the Chicago Mercantile Exchange and even the NASDAQ proves that big things are about to come in the next few years.

While no one knows whether financial institutions are about to enter the market, people on the
streets are still seeing cryptocurrencies as something revolutionary. Even though there are many
people who don’t actually understand their main aim, they keep on investing in Bitcoin, Ethereum and other virtual currencies with hopes that their prices will rise more and more in the future.

According to many experts, the mainstream interest in cryptocurrencies shows that they will be
likely adopted by big institutions as the years go by. After all, when things come from people
themselves – it is very hard to go over them.
Bitcoin has shown that it has a potential to even challenge the dollar in the years to come. What do you think about it?

 

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Altcoin News

OKCoin Exchange Invests In Crypto Custody Provider Prime Trust

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okcoin exchange
In the latest cryptocurrency news, we have the major OKCoin exchange with its latest decision to invest an undisclosed amount of money in the crypto custody provider Prime Trust. According to a note sent to customers on Wednesday, the CEO of Prime Trust and chief trust officer Scott Purcell said that the firm has decided to close a "nice" funding round that was led by the California-based exchange. Among the other participants in the round funding the OKCoin exchange decision were Gateway Blockchain Partners, Novablock Ventures and Xsquared Ventures. According to Purcell, no details are disclosed yet. Right now, Prime Trust serves as the OKCoin exchange fiat gateway. According to an announcement by the exchange, there is a new payment channel allowing customers to deposit funds through Prime Trust without any fees. However, the withdrawals are charged at $35 fee for each transaction. Last month, Prime Trust commented the partnership with the OKCoin exchange which was featured on many best cryptocurrency news sites. Then, the company said that it plans to launch a compliant stablecoin named "OKUSD" which will operate in the OKChain blockchain. The development of the network will be in the "final" stage, according to OKEx's statement from last month. On top of that, the coming altcoin news show that a new decentralized exchange (DEX) launched by the OKCoin exchange is also on the horizon. Meanwhile, Prime Trust which is a Nevada-based financial company, quietly entered the crypto custody of digital assets any longer which is in line with its custody services for stocks and bonds. As Purcell told media outlets at the time, the decision for OKCoin exchange to partner with Prime Trust has many other sources of revenue that make up for the removal of custody fees.
“We make money just as Robinhood, Northern Trust and other traditional custodians do. The costs of custody are offset by other services," Purcell explained.
This is definitely something that stirred up the market from a positive viewpoint, allowing traders to speculate on the potential novelties that the partnership could bring.
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Altcoin News

Coinbase Expands Its Crypto Offering To 11 More Countries

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Coinbase expands
The major American cryptocurrency exchange Coinbase has decided to expand its crypto to crypto trading to more countries, as a recent blog post published by the exchange noted. The news that Coinbase expands went viral on many best cryptocurrency news sites and was well accepted by the crypto community. The full crypto news showed that Coinbase and its professional trading platform Coinbase Pro have introduced the crypto-to-crypto conversions and trading to 11 more countries in Latin America and Southeast Asia. The product is now available in the following countries: Argentina, Mexico, Peru, Colombia, Chile, India, Hong Kong, South Korea, Indonesia, the Philippines and New Zealand. As Coinbase explained:
“This could take the form of decentralized versions of traditional financial services like lending or micropayments or truly novel crypto applications that no one has even thought of yet. The ability to convert from one crypto to another will form the backbone of this new decentralized economy.”
Meanwhile, the news that Coinbase expands allow customers in the aforementioned countries to store, trade, send and receive cryptocurrencies. As the latest cryptocurrency news show, the exchange also suggested that cryptocurrencies are moving from the current "investment phase" into the "utility phase" following a number of new use cases. Recently, the company introduced a lot of new developments, one of which was featured in the altcoin news section. It was the added support for EOS (EOS), Maker (MKR) and Augur (REP) which went viral and expanded into cross-border payments. The latter development reportedly enables users to send as well as receive money instantly and convert them into local currency. As part of the news that Coinbase expands, the report concluded:
"Realizing our mission of creating an open financial system for the world starts with making it as easy as possible to access crypto. With today’s announcement, we’re happy to take an important step in that direction."
Earlier in April this year, Coinbase also launched the Coinbase Card in a partnership with Visa, enabling its United Kingdom-based customers to pay in-store and online using cryptocurrencies. As a result, the new service will allow Coinbase to instantly convert the customers' cryptocurrency funds into fiat currency in order to complete each purchase. This is definitely a lot of news coverage showing that Coinbase expands in different directions and is on a mission to offer various trading options globally.
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Altcoin News

CoinMarketCap Crypto App Is Live, Offering A Lot Of Added Features

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CoinMarketCap
The cryptocurrency data provider and generator CoinMarketCap is in the latest cryptocurrency news for launching its first CoinMarketCap crypto app in Android and iOS versions. The leading crypto data provider has decided to make a leap forward and arrive to the mobile marketplace, providing insightful data about all cryptocurrencies in an easy way. Notable, the new apps for iOS and Android offer features that are not yet available on the CoinMarketCap website and ones that are quite advanced. For instance, the coming altcoin news show that the CoinMarketCap crypto app now lets you track Bitcoin and altcoins, see candlestick charts as well as side-by-side cryptocurrency comparisons as well as price alerts and user accounts. Officially announced on Tuesday, the news about the app went live on many best cryptocurrency news sites. As the head of marketing at CoinMarketCap named Carylyne Chan stated:
“We believe that our users will like the new style and the features we’ve added to these apps, and we’ll continue to update the app regularly based on the feedback we receive.”
The new CoinMarketCap crypto app will prompt users to sign up for an account on the app in order to save their portfolios and/or watchlists. The company also said that it plans to allow app accounts to be directly synced with the website at some point in the future. Meanwhile, the app also features a section for crypto "gainers" and "losers" as well as industry news. All of the data, as the firm unveiled, is made available through the API product which the firm uses - and was launched last August. Aside from the CoinMarketCap crypto app, the company made the cryptocurrency news section lately for launching two benchmark indices that cover the top 200 cryptocurrencies by market capitalization. One of them was with Bitcoin (BTC) in it and the other without - shared on financial data feeds from Nasdaq Global Index Data Service (GIDS), Bloomberg Terminal, Thomson Reuters Eikon (Refinitiv) and Germany’s Börse Stuttgart, as well as on its own platform. The app is already launched for iOS (since May 2018) but is getting a revamp now, along with the Android CoinMarketCap crypto app. All of the work is developed from the blockchain analytics startup Flipside.
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Bitcoin News

BTC To $10k: Major Market Expert Says Crypto Winter Is Over

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btc to $10k
Right now, the altcoin news show that along with Bitcoin, most of the cryptocurrency market is stabilizing. There is no doubt that a new decrease could be on its way. However, the bigger picture shows that a new uplift is definitely possible - and that BTC to $10k is definitely a reality. In times when analysts are not sure where is Bitcoin headed to (after having predicted $2,000 lows), everything seems like an icy ground to step on. However, many experts are sure that the crypto winter is over and the current price predictions indicate that BTC to $10k may be a something that we will see this year. In the latest cryptocurrency news, we have the CEO of the stocks and investment website ADVFN, Clem Chambers, who claims that the crypto winter is over and that Bitcoin could hit $6,000 soon before going even higher. For Chambers, BTC to $10k is definitely a possibility, mainly because of the greater interest coming from China due to a possible Yuan dollar depreciation. As he said:
“Money flowing into stablecoins is going to lift bitcoin because fundamentally money flowing into crypto is what sustains and raises prices.”
Chambers also explained that crypto assets need an inflow of new money to maintain the increasing supply as new blocks are mined. When it comes to his BTC to $10k prediction, he asserted that supply and demand is what creates the price and said that for “new supply to be matched at current levels, more than $3.3 billion dollars has to flow into bitcoin to make it go up.” Many best cryptocurrency news sites recently went with headlines stating that "Bitcoin is the new gold" and comparing BTC to the gold market which is with an estimated $5 billion in market capitalization. Even though the crypto market is far from that valuation, BTC is definitely eating into the interest of gold. As Chambers noted, if Bitcoin takes a fraction of the gold market, BTC to $10k could be real and could surpass all previous all time highs.
“Bitcoin winter is over, the price is going up, the only question is how high. For now $6,000 is an easy target and $10,000 a coin this year is not such a hard target. I’m still accumulating,” the market maven concluded.
 
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