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Singapore’s Kopitiam Food Court Starts Allowing BTC Payments

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Singapore’s Kopitiam food court which is popular in many malls in the country has made possible for Bitcoin holders to make payments in the cryptocurrency. We read more in the latest cryptocurrency news below.

Kopitiam is among the largest food-court operators in Singaporean malls and at the Kopitech Food Court in the new Funan mall, the customers can now order through self-service kiosks or via Facebook messenger. They can also pay by using a QR code which is located on each table. What is more interesting is that the customers can now pay using cryptocurrency. Among the other payment methods, the food-court kiosks now accept bitcoin, creatanium, and ethereum.

The KOPITech systems cost about $500,000 for the food-court to develop in-house. The cryptocurrency payment option was included since the CEO of the company Alden Tan has a huge interest in the blockchain technology. He noted:

‘’Allowing cryptocurrencies will help us to learn more about this segment of the payment system. This group of customers may grow in the future, so this is what we want to attract. We are always mindful of how we could add more customers to the food court.’’

What is also interesting is that the conversion from cryptocurrency into fiat will take place on a weekly basis and Kopitiam will bear the risks of any currency fluctuation. The Stallholders will receive payments in Singaporean dollars as usual. If it turns out that the response to the KOPITech food-court at the Funan mall is positive, Singapore’s Kopitiam food court will roll out other outlets that will allow cryptocurrency payments.

As noted in the coming altcoin news, it seems like accepting bitcoin in retail is rising again after the dull period that saw many of the adopters give up on the technology. In the couple previous months, the luxury hotels and car dealerships in Switzerland started to accept payments in cryptocurrency but also major US retailers are choosing Bitcoin over Visa. One US retailer even considers giving up Visa for good and choosing Bitcoin and its Lightning Network payment as a nationwide payment option. The new technologies and payment processors mean that it is much easier now to start allowing bitcoin payments since the conversion to and from crypto can be processed instantly.

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Bitcoin News

Bitcoin Breaks 5-Day Long Trend Reaching $9,800 Support Level

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Bitcoin breaks 5-day long trend and it reached to the key support level of $9,800 and since then bullish divergence appears to have formed on the low time-frames and could spur a huge reversal in the next few days as we can read in the latest cryptocurrency news today. On the one hour charts, the XBT/USD pair seems to have formed an ascending wedge that is ongoing throughout the entire August. This wedge has broken two days ago and has since dropped to the key support level at $9,800 as mentioned in the previous analysis. Since it re-tested the key support level, the price action has begun to bounce and form a short-term reversal. The MACD can be seen rising at the same point in which Bitcoin created two lows around the $9,800 which could indicate a bullish divergence forming around this price point. The Point of Control can be seen acting as a support around $10,100 which as price action test level multiple times within the last 24 hours. The market price is seeing some small pump as the candlesticks form and touch the 200 EMA. This could also mean that there is another ascending channel will form over the coming days that take bitcoin back to retest the $11,100 which was previously rejected. The 500 MA sitting in the $10,900 will be a massive resistance point that Bitcoin will need to cross in order to sustain a breakout. Now, as seen Bitcoin breaks 5-day long trend and we can see that the breakout zone is highlighted and if the price action can rave up enough volume, the bulls clearly will re-gain control of the market once the breakout zone has been entered around $11,300 and we could expect further upside so once this happens, the price levels can be seen below the breakout zone and Bitcoin can manage to surpass both of these highs and proceed to create a higher high. It seems as Bitcoin has created a huge consolidation range from around $9,100 to $14,000 over the last couple of months and once a break to the upside takes place the consolidation will essentially act as a fuel for another volatile move to the upside as per the analysis in the coming altcoin news reports.
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Bitcoin News

Many Buyers Lined Up For The Four-Figure BTC: But Where Is Bitcoin Heading?

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The market chop yesterday had many buyers lined up and ready to buy the most dominant cryptocurrency at the yesterday low of $9,750 and in similar ranges. However, the latest cryptocurrency news show that Bitcoin surged once again to $10,000 and no one knows what's next for the biggest crypto out there. From its low, Bitcoin managed to recover and retake the $10k level quickly. As such, it remained there for the best part of the day, posting intraday peaks of $10,250 a couple of hours ago during the early trading on Friday. Now it appears that BTC is settling at this level and that the choppy consolidation is still here. Unlike the many buyers lined up for BTC yesterday, there are still buyers but not in that amount. No one knows if Bitcoin will stay here for long - and the altcoin news show that altcoins are for now following this trend. According to analysts, there could be an ascending triangle forming in the hourly time frame, leading to new gains.
“We have been forming an ascending bullish triangle, and also and inverse HS Pattern, which very soon will make $BTC go up. The purpose with this move is to kill some shorts, before we go down again. Remember that we are in a huge descending triangle," said the user D4rkEnergY on Twitter.
https://twitter.com/D4rkEnergYYY/status/1164769200902033408 For now, the highs are creeping up and there are many buyers lined up - so a move to the next resistance level around $10,400 is crucial at this point. On the downside, there is clear support at around $9,800 and more in the mid-$9k region which has been hard to crack in the recent weeks. Analysts in the coming altcoin news warn users that nobody should panic now - even though the fear and greed index fell to 5 yesterday (which was lower than the 2018 bottom in mid-December when BTC was at $3,200). The famous crypto pundit and web security mogul John McAfee also had his say while many buyers lined up to buy BTC. McAfee remains resolute and agrees that the current level of fear is unnecessary. He wrote:
“Bitcoin jitters? Just stop it! Short term fluctuations are meaningless. Bitcoin is still up almost 300% from 6 month’s ago. Everytime there’s a dip I have to calm people in replies, DMs, etc. GET A GRIP! You know in your heart Bitcoin cannot lose. Relax!”
https://twitter.com/officialmcafee/status/1164491430091513856
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Altcoin News

Another Exchange Says Goodbye To The Cryptocurrency Operations

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Many best cryptocurrency news sites recently reported that the competitive arena has taken a toll on Asian cryptocurrency exchanges, with two of them deciding to leave the market this month. Now, it appears that we have another exchange saying goodbye to the cryptocurrency operations and closing down its venture. The smaller local player and Osaka-based operator of the Zaif exchange has stopped its cryptocurrency operations. As you probably know, Zaif was one of the first exchanges in Japan and was one of the first to gain an operating license from the regulatory Financial Services Agency (FSA). Zaif launched in March 2015, two and a half years before the FSA launched its licensing program. As the altcoin news last year showed, it was a crippling hack which brought financial chaos for the Zaif exchange. This is how the exchange got bailed out by Tech Bureau's rival FISCO. Since then, FISCO has had plans to take on Zaif's customers, transferring the accounts onto its own crypto exchange platform. Now, it seems like Zaif is another exchange shutting down after being unable to compensate all of the customers that had been affected by the hack. As the source Tech Bureau confirmed, Zaif will be closing down with any remaining crypto business being transferred to FISCO:
"The Company has been considering for various possibility of the customers who has not accepted the contract succession, however, we announce here that the Company has came up to the conclusion to discontinue our cryptocurrency exchange business once we complete the refunds for all customers who possess remaining balance which refunds can be made," Tech Bureau said, without providing more information about the date when it will be closing.
The latest cryptocurrency news show that the FSA recently confirmed that Zaif is another exchange which is forced to close because of hacks. Nikkei says that Tech Bureau will now focus on "blockchain development." Meanwhile, another exchange in South Korea - and a member of the "big four" there - named Coinone is shutting down its Malta-based Coinone Global Exchange (CGEX) on September 18. This comes in less than a year after it opened, and the operator said that it had "decided" that it “could no longer maintain service."  
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Altcoin News

Binance Thinks Funds Are ‘SAFU’ Following Amazon Web Services Withdrawal Error

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The head of the cryptocurrency exchange Binance, Changpeng Zhao, is in the latest cryptocurrency news following a recent statement by the exchange. It seems like right now, Binance thinks that the funds are 'not at risk' after a reported technical error started affecting its withdrawals. The CEO Changpeng Zhao (known as CZ) spoke about the entire situation and how it was resolved on August 23, while the funds security was not compromised. He wrote on Twitter stating that "Funds are #safu" employing a well-known catchphrase that he had previously created while confirming that there was no danger to the cryptocurrency holdings. https://twitter.com/cz_binance/status/1164772701589737472?s=20 Featured in the coming altcoin news, CZ explained that Binance thinks funds are safe right now. He centered on Amazon Web Services (AWS) too, stating that the problems with caching were what produced the error messages for a portion of the Binance traders. The withdrawals were also impacted as he noted. “AWS is having an issue, mostly with caching services, affecting some users globally. We are working with them and monitoring the situation closely,” CZ wrote, adding:
“It's causing some 500 error messages on APIs and affecting some withdrawal processing.”
Binance thinks funds are safe - but it just recovered from a publicity scarce which involved a self-proclaimed hacker alleging that he had access to the users Know Your Customer (KYC) data. The alleged data leak made Binance very insecure and many best cryptocurrency news sites also talked about the previous hack which was funds worth $41 million leaving the platform due to a security issue. All of this sparked a weeklong maintenance shutdown and payouts to the affected users. However, Binance thinks that it is in a good place now - right after it announced that it is working on a new cryptocurrency project named Venus. As the altcoin news showed, Venus is going to rival Facebook and its controversial Libra coin. Meanwhile, the market has stabilized from the yesterday drop and is at a combined total value of $265 billion at press time. Bitcoin is trading at $10,160 and most of the altcoins are recording gains of 1% to 2%. Bitcoin's dominance is still strong, standing at 68.4%.
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