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Coinbase Lauches Cryptocurrency Gift Cards In Australia & Europe

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The major cryptocurrency exchange Coinbase is again in the news this week – this time for striking a new partnership that will enable its customers in Europe and Australia to spend their cryptocurrency at major retailers and services such as Nike, Uber, and others.

WeGift is the name of the Lond0n-based fintech startup which lets users withdraw their cryptocurrency into gift cards that can be used in more than 120 retailers such as Amazon, Tesco, Uber, Nike, and others.

As WeGift explained on their website, the zero swap fees and the 5% bonus in gift card value is what makes this gift card option interesting for many. As the UK CEO of Coinbase noted, “Customers purchasing an e-gift card will enjoy zero Coinbase withdrawal fees and bonuses on select e-gifts.”

The CEO of Coinbase UK, Zeeshan Feroz, also announced the following:

“With the launch of e-gift cards, customers have a new option to spend their crypto balances, realizing its value to buy tangible things or experiences,”

Feroz also underlined the benefits of enabling users to spend their cryptocurrency for physical goods and services, stating:

“From converting bitcoin into Uber credits or ether into a Nike shopping spree, customers will have greater flexibility and control over how they use their crypto.”

The service will initially be available to customers in Australia, the United Kingdom, France, Italy, Spain and the Netherlands. However, Coinbase plans to roll the feature out in all of the 32 countries supported over the next three months.

After Coinbase expanded into Europe this year and received an e-money license by the FCA (a major UK financial regulator) it is now confident in providing e-money services as a cash alternative for 23 EU nations and the UK.

 

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Early 2017 Crypto Investors Are Rapidly Starting To Sell Bitcoin

The CEO of a major crypto trading company Michael Moro reaches today’s crypto news for his opinion that early crypto investors that bought bitcoin in 2017 for the price of $1,000 are not starting to sell massively. While speaking to The Block, Moro who provides investors access to block size liquidity in order to buy and sell cryptocurrencies explained that the large investors are now moving their funds for the first time now since bitcoin was just $1,000. He said:
 “We are seeing the folks who bought in early 2017 sell for the first time today.’’
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 “The bears aren’t even pushing, BTC is just free-falling. Very weak dump, imagine what it looks like when the volume comes in. A short-term reversal could happen at any moment – shorting with high leverage is a terrible idea. However, if you are trying to knife catch, be patient. No one should be in a rush to long this.’’
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Altcoin News

Bitcoin Takes A New Beating, Goes Below $4,500 As Market Loses $25 Billion

It seems like the downward trend for Bitcoin is continuing day after day. This Tuesday, the market just wiped out another $25 billion in a new major sell-off that is viral in our crypto news section. Over the past 24 hours, Bitcoin has lost about 14% of its price, while Ethereum lost 14.5%. Bitcoin Cash was the biggest loser again, losing 45% from its value and Stellar (XLM) followed with 10% losses accordingly. As expected, Bitcoin Cash dropped the most because of its hard fork and the quick sell-off that it triggered over the past few days. The newly produced versions of Bitcoin Cash (BCH), Bitcoin Cash SV (BCHSV) and Bitcoin Cash ABC (BCHABC) also suffered losses. While BCHSV fell from $170 to $60 in a three day span, BCHABC fell from around $450 to $270, almost splitting in half. The current market conditions are quite gray - mostly because of the intensity of the drops over the last 24 to 48 hours. A couple of days ago, Bitcoin was trading near $7,000 and today we are noticing a downward trend that may lead the most dominant cryptocurrency even below the $4,000 support line - if this bearish trend continues. A sell pressure on the other altcoins could also intensify in the days to come - pushing BTC, ETH, XRP and BCH to even lower limits by the end of this year.
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Bitcoin News

BREAKING: Bitcoin Falls Below $5,000 With No Signs Of Support

In the latest Bitcoin news, we are reporting a new massacre and a massive loss in the price of Bitcoin which today fell below the $5,000 margin. After hitting an all-time high and trading at around $20,000 in December 2017, a year afterwards we see the largest and most dominant cryptocurrency in shock. The BTC/USD index is now at 4886-fiat and the price of Bitcoin has recorded a loss of more than 11% and the price action bled through crucial support levels that had a history of reversing bearish trends. Obviously, the Bitcoin Cash hard fork has set the market on fire and big mining pools jockeyed to decide the fate of the BCH protocol. Currently, mainstream media is also promoting a negative side of Bitcoin. For example, a recent report from Bloomberg predicted that Bitcoin would bottom out at near $1,500, and many analysts also slashed their predictions for the most dominant cryptocurrency. Meanwhile, it seems like the US Dollar is also taking a beating - as it sled down to a two-week low compelled by the negative comments from the Federal Reserve. While a bearish dollar like this could prove bullish for stocks and commodities, its impact on Bitcoin  would definitely be a thing to watch out for in the months to come.
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Altcoin News

Bitcoin, Ripple And Ethereum Are Getting Hit (Again) This Monday

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