October 24, 20200 Comments
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The World’s Fastest Crypto Wallet, Go9Tro, is Coming Soon!
Go9Tro Wallet, powered by g9tro Tokens, is another level of crypto wallet with high capabilities. The wallet will be the world’s first smart contract community wallet which has its own guidelines and security measures for users to decentralize user private keys, and never stored on users’ devices. It will never access user wallets, hold private keys, and ask for personal information. It is a highly secure mobile wallet application that stores all blockchain cryptos including EOS and Binance technologies.
Go9Tro wallet unites smart contract community and enables them to store and trade crypto easily regardless of location and time zone. They can manage their assets in a responsive and easy-to-use interface as well as remain anonymous. Its smart contract community will be able to crowdfund projects through smartphones worldwide as a combined collective buying power to support a variety of non-profits and partnerships.
Apart from storing and trading cryptocurrencies in the app, Go9Tro provides Blockchain Academy training a wide range of educational resources. It comes in handy for newcomers who are starting to invest in cryptocurrencies and blockchain projects at their own pace on their smartphones. Go9Tro plans to bring knowledge such as wireless MESH technologies (decentralized wireless infrastructure) regionally to Africa, Asia, and South America. It positions itself to be a community-driven educational platform to increase the usage of all blockchain technologies to help the 3 billion non-banked people in the world which represents $380 billion outside the global economy today.
Go9Tro community of 1 Million smart contract users will download and promote the wallet as the ultimate solution for storing cryptocurrencies.
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Register g9Tro tokens on centralized exchanges like CoinMarketCap and CoinGecko at the end of 2020 or early 2021. The market value and market cap of g9Tro tokens will be reflected based on the number of downloads.
Crypto P2P adoption in Middle East stymied by politics and tech
Data published by Arcane Research suggests that despite demand for peer-to-peer crypto trading platforms in the middle east, regulations and lack of infrastructure is slowing down adoption.
But undocumented migrants in western countries have been making use of these platforms to send money back home.
According to an October report from the firm, peer-to-peer crypto trading volume, or P2P, across the Middle East and Northern Africa is roughly 15% what it was in late 2017 on major platforms LocalBitcoins and Paxful — or roughly $682,000 a week.
“In general, there are several centralized exchanges providing services in the more developed Arab states,” states the report. “However, other countries in the region do not have this exchange infrastructure, and also lack financial and political stability, but [have] not seen any notable crypto adoption on the P2P.”
There is demand for P2P services in Middle Eastern countries facing inflation, as it allows residents to get money out of the country or simply convert to crypto. The Lebanese pound has suffered massive inflation in 2020. And while Iran has been a hotspot for crypto miners due to the low cost of electricity, its currency has also been ravaged by crippling hyperinflation since the United States reimposed sanctions in 2018.
Despite this, P2P exchanges in both Lebanon and Iran are struggling to establish a foothold due to “poor Internet infrastructure and political regimes being negative towards Bitcoin.”
Instead, Arcane researchers found that “less sophisticated” Bitcoin (BTC) P2P trading methods have grown in the region during the same period, spurred by messaging apps like WhatsApp.
What cryptocurrency will become the main one in a year?
The report also indicated that undocumented immigrants living in western countries are turning to crypto to send funds home using gift cards in conjunction with P2P trading platforms when local laws make sending crypto more difficult.
In September, Paxful announced that it would no longer provide services in Venezuela due to regulations and sanctions related to the U.S. Office of Foreign Assets Control. Despite this the country accounted for 42% of the P2P volume across all of Latin America, which now sits at $4.3 million.
Arcane Research suggests Venezuelan immigrants have found “workarounds” to send money home amid “clamp downs on cryptocurrencies and strict currency control.”
According to researchers, immigrants can purchase gift cards to any number of popular retailers like Amazon or just a prepaid credit card, and send a picture of it to family and friends abroad. The recipients could then sell it for Bitcoin using a P2P platform and convert it into local currency. The report stated that such a remittance method was fast and reliable, but incurred significant fees.
Bitcoin is also a good way to get money out of the country. “Bitcoin can be used as a capital flight tool for Venezuelans,” stated the report. “The hyperinflation is a huge problem for Venezuela and [has] caused over 10% of the population to leave the country.”
Seoul Unsure Who Takes the Buck for North’s Crypto Raids + More News
Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news.
The question of who exactly in the South Korean governmental setup is responsible for countering North Korea’s alleged systematic hacking raids on South Korean crypto exchanges has become a political hot potato, reported Fn News. The financial regulator, the Financial Services Commission, has reportedly stated that the matter “not [its] responsibility,” as crypto exchanges currently do not fall under its remit. The commission told National Assembly members that it believed the Ministry of Foreign Affairs and the Korea Communications Commission (KCC) were responsible – but both the KCC and the ministry stated they believed the financial regulator was required to take the lead.
Nasdaq-listed bitcoin (BTC) mining equipment manufacturer Ebang established a wholly-owned subsidiary in Australia in preparation of opening a digital asset trading platform. According to the press release, the digital asset financial service platform is “in the stages of preparation.” The company is currently applying for the Australian financial service license ahead of the planned global expansion, though they warned the shareholders that there is no guarantee that the company will receive the regulatory approvals and licenses needed to operate in Australia.
Major crypto exchange Binance has announced that Binance Labs, its investment and incubation arm, is leading a USD 1.25 million strategic investment in Audius, a decentralized streaming protocol for distribution, monetization, and streaming of audio content. Per the emailed press release, Audius has 750,000 monthly active users (MAUs) and over a million streams each month across more than 100,000 tracks, and it has teamed up with artists like deadmau5, 3LAU, and RAC.
The South Korean blockchain-powered loyalty point platform Milk has more than 110,000 users six months after its launch, the company has claimed, per D Daily. Milk has struck key partnership deals with leading crypto exchange Bithumb and travel giant Yanolja. The company says that the number of app downloads has increased every month since launched, exceeding the 110,000 mark last month. The firm says it has “about 90,000 monthly active users,” 54% of whom are male and 46% of whom are women. Some 37% of users are in their 30s, the company added.
Game technology studio Mythical Games announced that the upcoming private beta for Blankos Block Party, an open-world multiplayer game that integrates blockchain, with a focus on player-designed levels and collectible assets, will begin on November 17, while the open beta will follow later this year. Per the press release, players who want to start their collection of the digital vinyl toys can now purchase a Founder’s Pack and get exclusive and limited in-game content, as well as priority access to the private beta.
Decentralized storage network Filecoin‘s upgrade, which came with the FIP-004 proposal, went live, per the media reports, citing the project’s Slack. Miners who have installed the upgrade Lotus 1.1.0 will receive 25% of their block rewards immediately with no vesting, as Cryptonews.com reported earlier.
The Spanish National Police have arrested Santiago Fuentes, the operator of cryptocurrency arbitrage firm Arbistar 2.0, following an investigation opened last September, as some investors accused the platform of being a bitcoin (BTC) Ponzi scheme, La Provincia reported. The situation culminated when the company canceled a product, because of which 32,000 customers allegedly couldn’t access their bitcoin savings, which affected at least EUR 9.34m (USD 11m) worth of investments, said the article.
There is a phishing campaign that uses emails pretending to be crypto exchange Coinbase and installing an Office 365 consent app that gives attackers access to a victim’s email, said a report by BleepingComputer. The campaign acts as a “New terms of service” that Coinbase users must read and accept to continue using the service. The Consent app’s permissions do not allow the attackers to send an email on a victim’s behalf, but the Mail.ReadWrite permission does allow them to update a draft message created by the user.
A New York court has ratified the proposed settlement between the US Securities and Exchange Commission (SEC) and Canadian social media startup Kik Interactive. In their blog post, Kik said that they’ll be “OK,” that its assets are still its property, that the SEC hasn’t asked to register KIN as security and didn’t impose trading restrictions on it, and that there’s “an open path for getting listed on new exchanges that couldn’t list us previously.” The SEC wrote that the court granted its motion for summary judgment in September, “finding that undisputed facts established that Kik’s sales of “Kin” tokens were sales of investment contracts, and therefore of securities.
A local branch of the People’s Bank of China (PBoC) with other Chinese authorities have allegedly arrested 77 people and shut down three online gambling sites over what is reported to be money laundering via, among other methods, tether (USDT). Per the alleged announcement by the bank’s official WeChat account, the total amount involved in this reported laundering is close to CNY 120m (nearly USD 18m).
The People’s Bank of China (PBoC) is asking for public feedback on a revision draft of the current central banking law which would legalize the digital yuan but would forbid the circulation of yuan-pegged digital tokens. Per the proposed revision, making and selling of yuan-backed digital tokens would be punished with a fine that is up to five times the amount of the involved proceeds.
Kazushige Kamiyama, Director General of the Bank of Japan‘s payment and settlement systems department, who’s also running the digital yen research, said that the central bank hasn’t made any decisions on digital currency yet and that its launch is conditional on public support, Bloomberg reported. “At the end of the day there’s no way we can proceed without gaining sufficient understanding from the Japanese public. […] It’s not desirable if what China is doing becomes impossible to understand for us,” the article quoted Kamiyama as saying.
Author: News Bureau