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Altcoin News

Coinbase To Launch New GBP Trading Pairs Tomorrow

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One of the major cryptocurrency exchanges in the world, Coinbase, recently announced that it will begin rolling out the new order book trading pairs for British Pounds (GBP). The announcement was made yesterday and will step in action from tomorrow – September 7th – for all traders based in the United Kingdom.

According to David Farmer who is the general manager of Coinbase Pro, the order book exchange will also offer trading services for GBP against the major altcoins such as Ethereum (ETH), Bitcoin Cash (BCH), Ethereum Classic (ETC) and Litecoin (LTC), all adding up to the current sole offering of Bitcoin (BTC).

Each of the pairs will go through a post-only stage and then a limit-only stage before the full trading services can be available. After that, Coinbase will allow limiting, marketing and stopping orders – initially for 10 minutes but later on for more.

This news also follows a report from early August when Coinbase enabled direct withdrawal and deposit services for its GBP currency for the first time – all through the UK Faster Payments Scheme. This was a revolution on its own, replacing the previous method of converting GBP to EUR and then funding accounts (which took more than a few days)/

The announcement about the new GBP pairs also follows the one about Coinbase securing an e-money license from the UK Financial Conduct Authority which paves the way for the exchange to expand its services throughout the UK and Europe.

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Bitcoin Cash (BCH) Activates A Hard Fork, Splintering Into (At Least) Two Competing Versions

In today's cryptocurrency news, we have the altcoin Bitcoin Cash (BCH) in the focus because of its recent fork which split the fourth largest cryptocurrency by market cap into at least two competing versions. The versions are called after their primary software clients, Bitcoin ABC (BCHABC) and Bitcoin SV (BCHSV). What started as a network upgrade after 18:00 UTC today continued with the BCHABC and BCHSV chains being diverged at block 556767. According to the BCHABC rules, bitcoin.com mined the first two blocks, both of which SV nodes marked as invalid, while BCHSV had to mine its first divergent block after that. As the hard fork proceeded, BCHABC maintained a significant edge according to its economic and community support metrics. BCHSV, on the other hand, whose primary backers are Craig S. Wright and Calvin Ayre, amassed the dominant hash rate which controls about 75% of all BCH mining power in the minutes before the fork. The 'war' between the two newly forked coins has just started and SV supporters openly declared that they will use the superior hash power to attack BCHABC, mining empty blocks and reorganizing its blockchain until the supporters capitulate and the economic majority moves to SV. Stay tuned for more news about the hard fork - and to see how everything will play out for BCHSV and BCHABC!
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Altcoin News

5% Of Moscow Residents Who Use Non-Cash Methods Are Open To Using Cryptocurrencies

A new poll went viral in the latest cryptocurrency news, this time carried out in Moscow, the capital of Russia. As Forbes Russia first reported on November 13th, more than five percent of all residents of Moscow that use non-cash payment methods are open to exploring the use of cryptocurrencies such as Bitcoin. Carried out by the Russian payment service Yandex.Money as well as the Moscow Information Technology Department (ITD), the poll surveyed more than 1,000 Moscow residents of various age categories over the phone. The researchers found that among the residents who use non-cash methods, 5% are willing to start using cryptocurrency to pay for their purchases - while 1% already use digital currencies. Among the most common forms of non-cash payments in Russia are bank cards (96%) followed by mobile bank apps (40%), Internet banking (32%) and e-money (16%). The head of the analytics department at ITD, Ivan Buturlin, recently stated that “34 percent of Moscow residents use primarily non-cash methods of payment, wherein 63 percent conduct electronic transactions at least once a day.” When asked why they refrain from using cashless payment systems, about 40% of the respondents pointed to security concerns, 22% of them said they don't want to pay extra fees and 11% said they did not understand how to use the non-cash payment services, while 9% said that they don't know what cashless payment methods are. As the CEO of Yandex.Money summed up following the publish of the results of this survey:
“In order for non-cash payments to penetrate into the lives of a larger number of citizens, people should also change their perception to understand that this is a safe method of payment.”
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Altcoin News

Crypto Market Capitalization Has Fallen To A New 2018 Low

The latest news on our DC Forecasts crypto news site clearly show d0wnward movements for both Bitcoin and many altcoins in the market. The prices of major cryptocurrencies have dropped significantly. Currently, Bitcoin is trading at around $5,639 falling by more than 12% on the day and showing big signs of volatility as a leader in terms of market capitalization. Speaking of which, the market cap behind Bitcoin dropped below the $100 billion level for the first time since November 12th last year. In the past 12 hours, the total market capitalization fell from $210 billion to the current $180 billion, depreciating by 15% and leading the market to the lowest value since October 31st of last year. There are many other major cryptocurrencies that are reporting declines in excess of 10% on the day. Some of them are Ethereum, Ripple (XRP) and Bitcoin Cash - the latter of which holds the record for its continuous decline over the past week. What's also important to note is the fact that Ripple (XRP) is now the second largest cryptocurrency by market cap - overcoming Ethereum (ETH) overnight. No one knows if the situation will continue like this. Analysts believe that if a quick bullish run initiates, everyone might be able to 'forget' this sad Thursday for crypto. However, an action like that would force Bitcoin to immediately gain control over $6,000 and altcoins to follow, which is beyond impossible at this moment.
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In the latest cryptocurrency news, we have a new wipeout that has the crypto market suffering - and being one of the most intense daily sell-offs in all of 2018, where the market lost more than $26 billion in one single day. The price of Bitcoin, which demonstrated a high level of stability over the past 3 months, recorded a 11% drop within 12 hours, which was a decline that brought down many other altcoins and digital assets, triggering downward movements in the entire market. One of them was Bitcoin Cash (BCH) which suffered most yesterday, falling by more than 19% and losing about a fifth of its value. Over the past week, this altcoin has managed to drop by over 50% and lose half of its value against the US dollar and 40% of its value against BTC. The intensity of yesterday's selloff reached a point in which Bitcoin saw its trading volume doubling from $4 billion to $8.1 billion. Even though the volume rarely surpassed the $4 billion margin over the past few months, it now demonstrated a high trading activity because of the selloff. One respected crypto trader and analyst going by the handle DonAlt commented on the latest drop, stating: https://twitter.com/CryptoDonAlt/status/1062687627340587008 The price trend of Bitcoin has played out similarly to the trend that DonAlt laid out and small market cryptocurrencies managed to suffer against both Bitcoin and the US dollar. Throughout the first two quarters of 2018, however, tokens and small market cap assets recorded losses from 40% to 80% against Bitcoin. The recent losses of 15% to 20% managed to bring their total yearly losses to around 95% percent. Bitcoin is now trading at $5,645 - and analysts believe that a quick rally to $6,000 could recover it from this situation.
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