Token Metrics Launches 14 AI Cryptocurrency Indices

Token Metrics launches 14 cryptocurrency indices that leverage artificial intelligence to build winning crypto investment portfolios. Token Metrics helps crypto investors find profitable investment opportunities with ease while filtering out scams.

With the government response to Covid-19 combined with people's desire to find other sources of income, interest in crypto is rising. Even before the flood of recently printed money, the World Economic Forum predicts that in 2027, 10% of the world's GDP, or about $9 trillion will be in tokenized assets.

Therefore, people want to get involved in crypto.

Similar to what Vanguard did to Index Funds and ETFs, Token Metrics wants to do for crypto investors by building the future of decentralized finance.

Ian Balina, Founder and CEO of Token Metrics, said -

We're excited to be launching one of our most requested features, crypto rating indices. These are model portfolios built using our machine learning technology that simplify and bring quality investing and trading to all crypto investors and traders.

The Token Metrics indices allow crypto investors and traders to harness machine learning technology's power in a simplified way. The indices take the analysis provided by Token Metrics proprietary artificial intelligence technology and display it in a more actionable way.

It doesn't matter if you are a short-term trader or a long-term HODLer, there is an index for you that provides simple and clear investment guidance.

Each index provides an easy to follow investment guide that clearly shows all rebalancing transactions and allows for concise performance tracking. With the Token Metrics indices, the information to build your winning crypto portfolio is just one click away.

Follow 14 crypto indices with specified rebalancing periods and see how they perform versus bitcoin:

• Price Predictions (Top gainers based on AI)


• Technical Analysis (Based on 22 TA indicators)


• Fundamentals (Based on 25 fundamental metrics)


• Technology (Based on 23 tech and code metrics)


• And many more

Visit tokenmetrics.com to start using the indices.

About Token Metrics Inc:

Token Metrics, Inc provides AI-based cryptocurrency ratings and price predictions. Founded in 2018 and headquartered in Washington, D.C., the company specializes in delivering cryptocurrency investment research to crypto investors using professional analysts, analytics, and artificial intelligence. Token Metrics has a diverse set of customers, from crypto fund managers to passive investors, in more than 50 countries.

Bithumb Global Launches New Smart Token: BTCS

Smart Tokens: The Tokens of the Times of Change

SYDNEY and SINGAPORE, July 21, 2020 /PRNewswire/ -- In the current scenario, where the interest in digital assets is reaching unprecedented levels, fintech companies are creating innovative solutions to allow investors and traders to leverage the awesome potential of digital assets. Bithumb Global, a Top 10 globally ranked digital assets platform, according to CoinMarketCap and CoinGecko, and one of the fastest growing exchanges since 2019, has developed "Smart Tokens," a fintech innovation that is fast becoming a go-to for many crypto enthusiasts. Smart Tokens are Bithumb Global's answer to ETF tokens and their return mechanism is similar to that of ETFs in traditional financial markets.

Bithumb Global recently launched their smart token BTCS, along with ETHS, XRPS, LTCS, BCHS, BSVS and COMPS. The yield rate of BTCS is pegged to the underlying asset BTC and others respectively, also to their core token worth.

Unlike regular tokens or coins, they are specific to Bithumb Global users. A formula is used to calculate the prices continuously, thus keeping the trading balance. Because of these characteristics of smart tokens, it is possible for anyone to buy or liquidate them with astounding ease.

Defining Features of Smart Tokens

More crypto exchange platforms are coming forward with their own smart tokens. Here are some basic characteristics of smart tokens to understand how they really work:

• A smart token can be purchased by just about anyone. This can be done by buying it, based on its current value. Interestingly, the added benefit of a smart token over other kinds of tokens is that owners are hedging against where you foresee the price will go.


• Smart tokens control their own prices which are tied to the actual token worth they carry.

What Do Smart Tokens Mean to these Times of Change? 

As the world is locked indoors during a pandemic which doesn't seem to have an end, the one word which defines every scenario today is uncertainty. The same is also visible in all forms of traditional markets. The chaos that the world has witnessed has driven the point home that disruptive innovation is needed to provide its security and stability. Smart tokens offer one such solution.

When even physical currencies are no longer stable, and when a steep downfall of our current systems is predicted by experts all around the world, a smart token, with its high liquidity, and equally high stability, sounds too good to be true. It is highly likely that the future would be driven by a new and revolutionary type of tokens which depend neither on a central authority nor on an exchange or other such third-party.

Smart Tokens Have an Edge Over Traditional ETFs 

Exchange traded funds (ETFs) are types of securities that store a collection of securities like stocks that often track an underlying index. They are similar to mutual funds. They can be invested in a number of industry sectors or applied various strategies according to the purpose.

Smart tokens are cheaper: Bithumb Global smart tokens are relatively inexpensive to hold. Other than the management fees, which are charged daily at 16:00 Seoul time and deducted from the Smart Token net value, there is absolutely no other cost associated with smart tokens. While traditional ETFs offer low expense ratios and lower broker commissions than buying the stocks individually, smart tokens will turn out to be more inexpensive than ETFs.

ETFs sometimes face liquidity crunch: As explained earlier, Bithumb Global smart tokens could be purchased or liquidated anytime through the platform. The process is all the easier because no third party is involved, hence the risk factor is zero. Furthermore, the transaction does not depend on the trading volumes. ETFs, on the other hand, have always been widely viewed as a more liquid alternative to mutual funds. But since they are pegged to traditional assets, the market conditions will affect them as well taking the edge off their liquidity.

Smart tokens involve minimum risks: Smart tokens have the added benefit of pre-calculated price slippage, which means that any slippage in price is very predictable before a transaction is carried out. The yield rate of the Smart Token BTCS (1x short BTC) is at the same rate but the opposite trend of that of BTC, which means when BTC goes down 5%, BTCS goes up 5%. This minimizes the risk associated with market changes which traditional tokens are highly vulnerable to.

Smart tokens are stable: The smart contract automatically maintains the exchange price between a smart token and its pegged token/coin. This implies that there is an original, real-time price associated with the sale or purchase of a smart token. This makes it much more stable, and hence also reliable. Bithumb Global smart tokens will trigger rebalancing only when the tracking difference exceeds 10%. For example, if the target of BTCS is 1x short, a rebalance will be triggered when the actual leverage is lower than 0.9x or higher than 1.1x. But the price of a traditional ETF fluctuates all day as the ETF is bought and sold.

In a nutshell, ETFs are a box full of traditional securities that can be traded on an exchange, just like a stock. Smart tokens are definitely a better and digitized version of ETFs. They are more secure, cheaper, and liquid than traditional ETFs.

Parting Words

Make sure you understand how Bithumb Global smart tokens work before investing in them. Always keep track of the net value before trading and make decisions accordingly. Despite being a nascent concept, they hold immense potential for further developments. Smart tokens will hopefully become more stable, safer, and more liquid over time. It won't be an exaggeration to call smart tokens the saviours of investors in these times of global financial adversity.

,

How The Blockchain Can Help Your Small Business

When people think of the blockchain for business, they usually think of big enterprises that do things like international shipping using it to streamline their lading and logistics. 

Though big business is taking advantage of the benefits that the blockchain is providing them in terms of cost savings, efficiency and security, there are also a lot of ways it can be used for a much smaller activity. Even your small business can use blockchain technology to help you bring your business to the next level.

In this article, I will go over how you can use the blockchain to streamline your business to compete and grow.

1 - Accept cryptocurrency payments

The most obvious and immediate way to implement blockchain technology is to accept Bitcoin and other cryptocurrency for your payments. WHen a client has a few options to pay they will often stick around as customers. 

It is easier than using a traditional credit or debit card payment processor and costs a fraction as there are very few fees. It is easy and quick to buy Bitcoin in India so your customers will love having that as an option. 

There are many people who don’t use traditional banks, so this gives them a way to pay for your product or service easily and securely. 

2 - Secure data storage

Data is king right now and there are loads of thieves looking to take it from you to use for their own benefit. Cloud storage is very popular as it is cheap to use and easy to access when needed. However, it has a serious flaw in that it can easily be hacked.

Instead, use the blockchain to store your data and you have increased security. It works exactly the same as cloud storage so you don’t have to get used to a new system. You wouldn’t even know that you are using the blockchain. 

Since every transaction is registered on the chain, it keeps the data safe as the blockchain is on millions of computers instead of one server. This makes it almost impossible to hack.

3 - Smart contracts

Since the transactions are all immutable, meaning they can’t be altered, this is an excellent way of creating contracts and documentation with clients or others that is easy and secure.

Think about creating a timestamp for a copyright that you need for your intellectual property. If it is one the blockchain it can’t be disputed and is accurate and safe.

When you make a digital signature, it cannot be used without you knowing or the document itself can’t be altered after the fact. This makes it very economic to do your important paperwork as it doesn’t need to be done in person or with a notary for the same type of security. 

Conclusion

It is easy to forget that the blockchain serves far more purposes than just a way to buy and sell cryptocurrency. There are so many applications that can be used that have nothing to do with Bitcoin as a currency and can be used for your business needs. 

PayPal Plans to Roll Out Direct Sales of Cryptocurrency

PayPal, along with Venmo - its mobile payment service, is reportedly planning to offer direct sales of Bitcoin and other cryptocurrencies to its 300 million+ users globally, said a report by Coindesk, citing three people privy to the matter. Notably, PayPal has a longstanding business relationship with Coinbase.

According to the report, PayPal is looking to offer buying and selling of crypto and said the service could be expected "in the next three months, maybe sooner.".

Citing a well-placed industry source, the report said that Paypal is going to allow "buys and sells of crypto" directly from PayPal and Venmo and may have some sort of a built-in wallet functionality so one can store cryptocurrencies in there.

About Paypal subsidiary, Venmo, it alone handled US$12 billion in transactions in the first quarter of 2018. Venmo is a type of peer-to-peer (P2P) payment platform with a mobile app that enables sending money easily among friends. It required No credit card, no wallet, no fees besides just linking the app to a debit card and to spend'em.

It is unclear which or how many cryptocurrencies would be available, said the report further.The industry source, as per Coindesk, said they expected PayPal "would be working with multiple exchanges to source liquidity."

As of the end of 2019, PayPal had 305 mmillion active users, whereas Coinbase, one of the largest crypto exchanges in the U.S., has 11.7 million users. And Binance, one of the world’s largest, has only 15 million.

Notably, in October last year Paypal had withdrew itself from Libra Association, the Facebook-initiated crypto project, to instead “continue to focus on advancing our existing mission and business priorities as we strive to democratize access to financial services for underserved populations."

With Coinbase, which is also a crypto-exchange, PayPal has a partnership that allows users (in North America and Europe) to withdraw and deposit cash between the two platforms.

In an interview with CoinDesk earlier this year, PayPal Chief Technology Officer Sri Shivananda said the company wanted its own “perspective and view on [blockchain] technology itself to see how it can help us contribute to the concept of creating an open digital payments platform that can serve everyone.”

Singer Akon Launching its Own Cryptocurrency, Blockchain Ecosystem and A City

American singer and entrepreneur Akon is launching his own cryptocurrency 'Akoin' and also building a 2,000-acre city in West Africa's Senegal city, which will be called as Akon City and will have Akoin as its local currency, Bloomberg reported. Akon, whose full name is Aliaume Damala Badara Akon Thiam, spent his early childhood in Senegal before relocating to New Jersey.

Apart from the Grammy-nominated singer, there are two other co-founders of Akoin -- Jon Karas and Lynn Liss. The cryptocurrency is likely to be launched in early July this year, according to Karas, who is the President of Akoin.

What is #Akoin? Watch this brief video to get an overview of what we're working on.

Launch announcement coming soon. Sign up on https://t.co/NfL4GynmdZ to get notified when we announce the date. pic.twitter.com/1NTkJ0mFsA

— Akoin.io (@AkoinOfficial) May 27, 2020

10% of the total float of the cryptocurrency Akoin will be issued via a public sale in the beginning. This amount may change as per the demand while another 10% is to be held by executives, advisers and directors of the company, as per a white paper published.

About the Akon city, the construction of planned US $6 Billion futuristic-cryptocurrency themed cityis being done by KE International, a US based Consulting and Engineering firm. Akon City's Phase 1 is expected to complete by end of 2023, and will see the construction of roads, a Hamptons Hospital campus, a Hamptons Mall, residences, hotels, a police station, a school, a waste facility and a solar power plant.

Akon City Phase 2 will run from 2024 to 2029 and will end with a complete cryptocurrency City running exclusively on AKOIN cryptocurrency.

https://t.co/qFgTJvXJtM pic.twitter.com/sJ98plUOWc

— AKON (@Akon) June 15, 2020

Besides, there will also be a Akoin Multi-Currency Wallet that will serve as the native Akoin wallet allowing its users to trade amongst partnered cryptocurrencies internally without facing major hurdles and fees often found with exchanges. This exchange is enabled through a proprietary and private Atomic Swap technology that makes a direct transfer with all major cryptocurrencies, our Partners’ alt currencies possible, without having to go through a major exchange. The Multi-Currency Wallet exists within the Dapp (decentralized applications) Marketplace as one of its functions.

Bain-backed CoinDCX Launches Online Platform for Crypto Education

Online platform the first educational initiative unveiled as part of the CoinDCX #TryCrypto initiative following $1.3 million investment

CoinDCX, India’s largest and safest cryptocurrency exchange, has launched a new online platform and subsidiary, DCX Learn, a holistic resource for cryptocurrency and blockchain educational content. This is part of CoinDCX’s crypto adoption initiative, #TryCrypto, which aims to introduce 50 million Indian users to the cryptocurrency sector. Coming off the back of a dedication of US$1.3 million to its #TryCrypto initiative, CoinDCX plans for DCX Learn to play a vital role in leading the nationwide movement towards borderless financial services digital asset adoption. 

On the launch of DCX Learn, Sumit Gupta, CEO and Co-founder of CoinDCX, said: “With the potential to accelerate financial inclusion in India, as well as opening gateways to new forms of investing, cryptocurrencies can benefit everyone. However, for Indians to take full advantage of crypto, we need to lay the groundwork through appropriate education. With DCX Learn, we want to arm users with the knowledge necessary to navigate crypto markets. As India’s largest exchange, we believe it is our duty to give people the tools needed to unlock the benefits of digital assets, and we are sure that DCX Learn will be vitally important in achieving our goal of onboarding 50 million Indian crypto users."

The DCX Learn platform will provide learning material in the form of guides and articles, online courses, interactive lectures, and free quizzes, specifically tailored to all levels of crypto users, from novice to advanced market participants. Topics on the platform will include blockchain, cryptocurrency, trading, economics, and security. As India’s safest crypto exchange, CoinDCX has confirmed that crypto security will be a major focus on the platform providing information and knowledge for safe trading. The content available on DCX Learn will also be supported by collaborators from leading global industry thought leaders including CryptoKanoon, CoinCrunch, Inlox Network, Cashaa, and many more to be announced.  

Expressing support for the launch of DCX Learn, Kashif Raza, Co-founder of CryptoKanoon, said: “ At this stage of growth for the Indian crypto community, there is a need to provide potential users with better access to knowledge and toolsets to make their trading experience safe and productive. The launch of DCX Learn comes at a time when India is bullish on crypto—and with more resources and information available to Indian users, we are confident that the industry can achieve long term, sustainable growth."

Shan Aggarwal, Head of Corporate Development at Coinbase said: “With most of the world currently in some form of lockdown due to the Covid-19 crisis, people are staying home and learning more about cryptocurrencies. This is a great time for an initiative and platform such as DCX Learn to provide valuable information on the benefits they can accrue with crypto, as well as how to engage in its use. We are looking forward to lending our support towards CoinDCX in providing crypto-related education."

The launch of DCX Learn follows the recent news that CoinDCX has closed a successful Series A funding round, with $3 million in funding from Bain Capital and others,as well as successful strategic investment of an additional $2.5 million from Coinbase Ventures, and Polychain Capital.

Sign up for DCX Learn on https://dcxlearn.com/sign-up/ and receive updates on available resources, seminars, and courses.

Additional Collaborator Quotations:

Kumar Gaurav, CEO of Cashaa, said: "Bitcoin is an exit door that can save all of us from the fall of the current financial system. It will enable the next wave of financial services by making them convenient, economical, and giving back users full control over their money. It's very important that Indians as a significant percentage of the world population must understand this change. I am proud that Coindcx is doing its best to empower the billions of people through this wonderful initiative. Cashaa is looking forward to supporting CoinDCX on the launch of the DCX Learn platform."

Abhimanyu Kashyap, Founder and CEO of Inblox said: “India is currently witnessing increasing interest in cryptocurrencies and digital asset adoption. There is now a big opportunity for everyone to get involved in the technology of the future. However, while with new technologies, come new opportunities, they also carry new risks.. This is why it is imperative that industry leaders create a culture of knowledge dissemination for all newcomers to the industry. We are proud to stand with CoinDCX as it launches its DCX Learn initiative to bring about awareness of cryptocurrencies and their  benefits in all its forms. We will offer our full support in this endeavour.” 

About CoinDCX

CoinDCX is India’s largest and safest cryptocurrency exchange. Built with user experience and security in mind, CoinDCX provides instant fiat to crypto conversions with zero fees, so that users can have access to a diverse suite of financial products and services that are backed by industry-leading security processes and insurance protection.

CoinDCX aims to be the global gateway to cryptocurrencies. Its proprietary liquidity aggregation model provides its users with access to liquidity from leading global crypto exchanges. Recognised and awarded for its contribution to the Indian emerging tech space, CoinDCX is backed by investors such as Polychain Capital, Bain Capital Ventures, and HDR Group, operator of BitMEX. CoinDCX offers users an integrated suite of products, including DCXinsta, providing fiat onboarding from Indian Rupees (INR) to crypto, DCXlend, a decentralised lending service, and DCXmargin, with up to 6x leverage trades across more than 250 markets, and DCXfutures, with up to 20x leverage trades on leading digital assets futures.

Cryptocurrency Exchange Bityard Launched a Global Business Layout using Singapore as Its Base

Bityard, a Singapore-based cryptocurrency exchange, has announced that it has officially launched a global business layout using Singapore as its base to conduct business with clients in Southeast Asia, Europe and the United States. Additionally, in correlation with the global development of cryptocurrency transactions, Bityard is a blockchain application technology exchange, and as such, has been awarded the appropriate licenses from the ACRA of the Singaporean government.

Bityard has also established offices in many countries in the Asia-Pacific region and obtained local professional licenses. Bityard vows to provide users with a safe trading environment and a commitment to excellence for users of the platform. In the future, Bityard will continue to enhance the user-friendly and professional user experience. Taking the concept of "complex contracts and simple transactions" as core values, it is Bityard's intention to spearhead the market using cutting-edge technology.

Bityard embodies three simple characteristics not seen by other exchanges: Safety, simplicity, and speed. Bityard supports two-factor-authentication and holds several licenses for business globally. With regards to simplicity, the interface is not overbearing and the information users see is easy to digest. Finally, with regards to speed, users can be trading in as little as ten minutes after they finish registration on the platform. There is also a daily mining activity on the Bityard platform to allow users to reward themselves with a little bit of cryptocurrency daily. Bityard anticipates a large number of users joining the platform later this year.
Global Brand Ambassador: Buakaw

At present, Bityard has successfully entered the Vietnamese and Chinese markets, and achieved excellent results. There are also more and more users entering the platform from Indonesia, India, South Africa, Thailand and other countries. Before the end of 2020, Bityard will cover Asia Pacific, Europe, and the USA with full multi-language support to achieve its vision for a globalized platform.

Bityard: www.bityard.com
Facebook: https://www.facebook.com/Bityardofficial/
Business Mail: bd@bityard.com

China becomes 1st Country to Test Digital Currency 'e-RMB'; Introduced in 4 Chinese Cities

After launching its own, official Blockchain network last week, China now becomes the first country to pilot its own digital currency. The Cryptocurrency called 'e-RMB' is being piloted in four major Chinese cities including Shenzhen, Suzhou, Chengdu and Xiong'an. China is also testing the digital currency in areas that will host some of the events for the 2022 Beijing Winter Olympics. Moreover, e-RMB has also been formally adopted into the cities' monetary systems.

According to a report by The Guardian citing the China Daily, a statement by the People's Bank of China (PBOC) said that the digital currency "will not be issued in large amounts" for public use in the short term, and that the digital currency in circulation would "not lead to an inflation surge". The pilots’ aim in all locations is to "optimise and improve" functionality ahead of the wider rollout of the currency.

Citing an official, the China Daily report also suggested that the public in China would be able to convert money in their bank accounts to the digital version and make deposits via electronic wallets. The underlying tech of e-RMB allows the digital currency to be exchanged without an internet connection and can also be used to make contactless payments.

Additionally, the e-RMB–would be used for paying the April-month salaries to some government employees and public servants. The digital currency will be used to subsidize transport in Suzhou, but in Xiong'an the trial primarily focused on food and retail, The Guardian reported.

A report by China.org.cn, local government employees in Xiangcheng district of Suzhou, Jiangsu province, whose salaries are paid through accounts in the country's "big four" banks -- Bank of China, China Construction Bank, Agricultural Bank of China and Industrial and Commercial Bank of China－have been asked to install "digital wallets "on their cellphones this month, according to the local government.

As per few speculative reports, some global food brands including McDonald’s, Starbucks and Subway have agreed to be part of the e-RMB trial.

"Compared with paper notes and coins, the digital currency can cut issuing costs, such as expenses on printing, transportation and management," said Dong Ximiao, a researcher at China's National Institution for Finance and Development told China.org.cn.

It is to be noted that Chinese money comes by two names -- the Yuan (CNY) and the people's renminbi (RMB). The difference between Yuan and RMB is subtle as RMB is the official currency of China where it acts as a medium of exchange, the yuan is the unit of account of the country's economic and financial system.

"Compared with paper notes and coins, the digital currency can cut issuing costs, such as expenses on printing, transportation and management," said Dong Ximiao, a researcher at National Institution for Finance and Development.

China becomes 1st Country to Test Digital Currency 'e-RMB'; Introduced in 4 Chinese Cities

After launching its own, official Blockchain network last week, China now becomes the first country to pilot its own digital currency. The Cryptocurrency called 'e-RMB' is being piloted in four major Chinese cities including Shenzhen, Suzhou, Chengdu and Xiong'an. China is also testing the digital currency in areas that will host some of the events for the 2022 Beijing Winter Olympics. Moreover, e-RMB has also been formally adopted into the cities' monetary systems.

According to a report by The Guardian citing the China Daily, a statement by the People's Bank of China (PBOC) said that the digital currency "will not be issued in large amounts" for public use in the short term, and that the digital currency in circulation would "not lead to an inflation surge". The pilots’ aim in all locations is to "optimise and improve" functionality ahead of the wider rollout of the currency.

Citing an official, the China Daily report also suggested that the public in China would be able to convert money in their bank accounts to the digital version and make deposits via electronic wallets. The underlying tech of e-RMB allows the digital currency to be exchanged without an internet connection and can also be used to make contactless payments.

Additionally, the e-RMB–would be used for paying the April-month salaries to some government employees and public servants. The digital currency will be used to subsidize transport in Suzhou, but in Xiong'an the trial primarily focused on food and retail, The Guardian reported.

A report by China.org.cn, local government employees in Xiangcheng district of Suzhou, Jiangsu province, whose salaries are paid through accounts in the country's "big four" banks -- Bank of China, China Construction Bank, Agricultural Bank of China and Industrial and Commercial Bank of China－have been asked to install "digital wallets "on their cellphones this month, according to the local government.

As per few speculative reports, some global food brands including McDonald’s, Starbucks and Subway have agreed to be part of the e-RMB trial.

"Compared with paper notes and coins, the digital currency can cut issuing costs, such as expenses on printing, transportation and management," said Dong Ximiao, a researcher at China's National Institution for Finance and Development told China.org.cn.

It is to be noted that Chinese money comes by two names -- the Yuan (CNY) and the people's renminbi (RMB). The difference between Yuan and RMB is subtle as RMB is the official currency of China where it acts as a medium of exchange, the yuan is the unit of account of the country's economic and financial system.

"Compared with paper notes and coins, the digital currency can cut issuing costs, such as expenses on printing, transportation and management," said Dong Ximiao, a researcher at National Institution for Finance and Development.

London-based Digital Assets Exchange MAX Markets announces Launch

MAX Markets Limited (‘MAX’) the London-based digital, multi asset exchange ecosystem, is pleased to announce the first key steps of its UK regulatory roadmap for market launch. MAX is designed for professional investors and will offer a regulated marketplace, subject to FCA approval, to enable the buying and selling of cryptocurrencies, security tokens and other digital assets.

Providing access to digital products via the familiar secure and regulated channels, MAX’s approach highlights the paradigm shift from traditional to digital exchanges including post trade. In the current market, investors are expected to prefund digital activity with their inventory immobilised in a closed ecosystem of the exchanges choosing. MAX is unique in its facilitation of inventory mobility, within a familiar market structure as a key feature will be access to third party digital asset exchanges and custodians as well as access to fiat banking using a groundbreaking middleware layer.

Over the last year, MAX has been engaged in accessing various opportunities whilst concurrently developing the visionary concept and creating the supporting infrastructure, and recently applied to the FCA for a UK Multilateral Trading Facility (‘MTF’) licence. The MAX ecosystem will include up to 3 exchanges (UK, Switzerland & in Asia), a guarantee fund (ensuring contract performance) and a digital custodian.

MAX will leverage its strong digital assets network and a senior industry team with a broad knowledge of financial markets infrastructure business and operations. This includes Hirander Misra, Deputy Chairman, and Scott Riley, Chief Post Trade Officer, who were previously co-founders of Chi-X Europe and Tony Harrop, Director of Technology, who was formerly CTO at PLUS Markets Group (now NEX Exchange).

Scott Riley, Chief Post Trade Officer of MAX said, "I am delighted to participate in this unique opportunity as digital is a hugely exciting market development and it is here to stay. He added, “Participants want access and product, customers want certainty and recourse and we’re just giving them the technology and governance to achieve that for this new asset class in a framework they are familiar with."

The experienced Non-Executive Directors include Dr. Iain Saville, ‘father of CREST’ and a recognised expert in securities and settlement, who has been appointed as Chairman; Director John Holland, Chairman of KCG Europe and previously UBS Investment Bank board member, who is renowned for his deep experience in global broking and market making; and Director June Aitken, an experienced NED and ex HSBC and UBS senior executive, with a strong background in global equities and emerging markets.

Founding shareholders in the company include GMEX Holdings Limited, part of GMEX Group Limited (“GMEX”), a recognised global leader in digital exchange and post trade technology who will supply its globally established GMEX Fusion technology platform, as well as DAG Global, whose mission is to deliver merchant banking services in the UK to SMEs and digital firms – providing access to the benefits of digitisation in finance with bespoke services provided by people, empowered by technology and adhering to the highest standards of compliance and security.

Hirander Misra, Chairman and CEO of GMEX Group and Interim CEO of MAX, commented: “After the success of Chi-X Europe and our rewarding working relationship, it has been great to take on the challenge of launching a London based digital assets ecosystem, alongside Scott.” He added, “The team behind MAX is exceptional and the expertise they bring in the banking, exchange and regulatory space alongside digital assets expertise coupled with strong partnerships will place MAX at the forefront of the market.”

Sean Kiernan, Founder and CEO of DAG Global, added “DAG is excited to be part of this new venture and bring its network and associated business opportunities to the platform. He added, ”We will also look to expand MAX’s solutions to include the addition of merchant banking services in the future.”

Eterna Borderless Venture Studio, an initiative run by leading companies in the blockchain industry to support the growth of the Algorand ecosystem, today also announced that MAX has been chosen to receive support, mentorship, training and funding to build on the Algorand platform. Algorand has built the world’s first open, permissionless, pure proof of stake blockchain protocol to enable frictionless finance and economic exchange.

Opera Browser now allows to Buy, Spend Bitcoin and Ethereum using Debit Card, Apple Pay

Freeware browser Opera, which is the first major browser to introduce a built-in crypto wallet in July 2018, is now introducing another feature allowing its users in the US and Scandinavia easily purchase cryptocurrencies using a debit card or Apple Pay.

Easy crypto top-ups are available in Opera;s flagship Android browser, its iOS browser Opera Touch as well as in the crypto wallet available in its desktop browser. The integrated solution is available in the United States and Scandinavia.

Developed by Opera Software AS, a Norwegian software company, Opera's strategy is to eliminate the hurdles associated with the use of cryptocurrencies on the Web. In December 2018, Opera introduced the first blockchain-enabled browser "Opera for Android" with a built-in crypto wallet and Dapp explorer.




Opera is tying-up with US-based cryptocurrency infrastructure provider Wyre, which allows transactions on Apple devices works seamlessly with Apple Pay, making it possible to top up an account in less than 30 seconds. Opera Android users in the US can now buy BTC and ETH using a debit card. iOS users can simply use Apple Pay.

Later, it added a built-in crypto wallet to its desktop browser as well as to its iOS browser, Opera Touch. It later introduced easy crypto-purchases in Sweden, Norway and Denmark, and is now expanding them to the United States.

Charles Hamel, Head of Crypto at Opera browsers, explained how this integration supports Opera’s long-term vision of making blockchain technology relevant beyond speculation: “Allowing our users to easily load cryptocurrency into their browser’s digital wallet is very powerful, as it connects the Web to a global internet-native payment network."

Source ~ Press.Opera.com

Cryptocurrency Players Welcome SC Lifting Trading Ban

Cryptocurrency players on Wednesday welcomed the Supreme Court's order lifting two-year old ban on trading in virtual currencies by the Reserve Bank of India, saying the move will encourage them to expand their offerings in the country.

The Supreme Court on Wednesday allowed banks and financial institutions to provide services related to cryptocurrencies.

Concerned over the risk associated in dealing with virtual currencies, such as Bitcoins, RBI in its April 2018 circular, prohibited trading in such digital currencies.

Pundi X chief executive officer Zac Cheah said the lifting of the ban on crypto only reinforces the fact that crypto and blockchain are the technologies of the future.

"It brings in cheer for crypto / blockchain companies such as Pundi X who have done some remarkable work in this space and encourages us to expand our expert offerings to potential geographies such as India," Cheah said in a statement.

Bitbns CEO Gaurav Dahake said the verdict would give rise to a greater ecosystem in a country where innovation has always had a place, and rope in new investors, better support for blockchain-based projects, and will create more jobs.

"It's such a morale boost and will definitely help us bring back the high-volume traders who were concerned about the tips involved in our P2P transaction system, and have been unable to transact small amounts. We are happy that they finally have a resolution," Dahake said.

Raghu Mohan, CEO and Co-Founder, IBC Media, a marketing solutions company that works with blockchain companies, said it is a step forward to empower entrepreneurs who build innovative business models to solve multiple grassroots problems in the country using crypto.

"Crypto needs to be regulated in India, and we are all for it. Tax it and bring in KYC and anti money laundering (AML) measures to avoid any misuse if need be. In fact, regulating crypto is far easier than regulating physical cash," IBC Media's CEO and co-founder, Raghu Mohan, said.

Springworks, a Bengaluru-based revenue-funded, HRTech startup said with today's decision developers can now work on blockchain projects around the world and participate in the upside.

"This is a historic decision by the Supreme Court. The RBI circular meant that even though there was no ban on crypto, developers and startups were indirectly disincentivised to work on crypto projects because of the banking ban," Kartik Mandaville, CEO, Springworks said.

A three-judge Supreme Court bench, headed by Justice R F Nariman, in its 180-page verdict said, "When the consistent stand of RBI is that they have not banned VCs (virtual currencies) and when the Government of India is unable to take a call despite several committees coming up with several proposals including two draft bills, both of which advocated exactly opposite positions, it is not possible for us to hold that the impugned measure is proportionate." PTI HV

BSO and Gemini partner for Direct Crypto Exchange Connectivity Worldwide

BSO, the award-winning Ethernet network, cloud and hosting provider for the financial services industry, today announced the availability of connectivity solutions to Gemini, a leading cryptocurrency exchange and custodian, directly from the global BSO network.

BSO’s global Crypto Connect network provides specialist state of the art solutions for both institutional clients, who require the same high-quality access to Gemini as they do for other traditional asset class exchanges, as well as the demanding crypto community, who equally require nimbleness, high availability and a high performance hybrid network. BSO delivers guaranteed latency on layer 2 backbone with high security to ensure that current and future business needs are catered for.

BSO is proud to welcome Gemini as a preferred partner on its BSO Crypto Connect solution that enables Public cloud & private infrastructures inter-connectivity over 240 PoPs via its private, internet avoiding, dedicated & guaranteed latency backbone worldwide.

Jeanine Hightower-Sellitto, Managing Director of Operations at Gemini, said, “Gemini is a crypto-native company working to mature the crypto trading space. We are very pleased to be working with BSO to provide direct access to a wider range of market participants; including investment firms who require traditional data centre cross connectivity capabilities.”

Michael Ourabah, CEO at BSO commented, “We are delighted to be working with Gemini to deliver institutional quality connectivity and service to support the growth of the crypto currency community.” Adding, “Crypto Connect supports both new entrants as they scale to institutional corporate structure and institutions who want to enter the crypto market with the same latency and service levels they have come to expect from BSO.”

New York based Gemini, is a cryptocurrency exchange and custodian that allows customers to buy, sell, and store digital assets including bitcoin, ether, zcash, and litecoin. Gemini was founded in 2014 to build a bridge to the future of money.
BSO is the first network provider to launch a crypto-friendly network infrastructure to traders, exchanges, financial institutions, fintech startups, or regulators looking to understand this complex market. Crypto Connect is available in data centre locations comprising all the major trading venues in the global financial community.

About BSO

BSO is a global telecoms operator powering the digital age. 15 years of innovation, independence and pioneering spirit underpin its customer relationships – trusted partnerships with technology-empowered companies that are embracing global opportunities, scaling rapidly and outperforming competitors.

From trading firms at finance’s bleeding edge to high-growth businesses where network performance, reach, diversity and exceptional 24/7 support defines success, BSO delivers every time.

The world’s largest privately-owned telecom company by PoP count. An unrivalled international footprint. Extensive expertise in difficult-to-access regions and emerging markets. A team listening intently to every customer’s unique needs. A broad spectrum of shared and dedicated services, unmanaged to fully managed. An uncontested consulting-led approach.

This bespoke intelligent infrastructure, incomparable speed, unmatched service, experience and state-of-the-art technology is what makes BSO a passionate partner rather than transactional provider.

Supreme Court Scolds RBI over Cryptocurrency/Bitcoin Trading Ban

Indian apex court, the Supreme Court of India, slammed the Reserve Bank of India (RBI) over cryptocurrency ban in the country. The judges at the court asked that why it chose to ban bitcoin trading when it could regulate it. The judges compared the cryptocurrency trading market to that of stock-trading, wondering if one could be governed despite the inherent investment risks, then what stopped the central bank from not regulating the other.

Hearing ends here.

Arguments will resume tomorrow by RBI and the same will be followed by Rejoinder by the Petitioners.

Thank you! pic.twitter.com/1GhQSu2Neu

— Crypto Kanoon (@cryptokanoon) August 20, 2019

Crypto Kanoon, an India-based bitcoin advocacy group, reported live accounts on the Crypto vs. RBI case via its Twitter profile. The updates revealed that Ashim Sood, the counsel representing the Internet and Mobile Association of India (IAMAI), presented bitcoin as a nascent industry which needed oversight.

The advocate discussed how other countries are developing new legal frameworks to make space for assets like bitcoin. But instead of taking cues from developed nations like Singapore and the US, RBI took an unpleasant stance and banned bitcoin trading altogether.

Advocate Shyam Diwan, the counsel representing the RBI, called bitcoin a private cryptocurrency which could have a direct impact on India’s monetary and payment systems. He argued that RBI had issued notices to discourage people from investing in these assets. But when they did not stop, the central bank had to take extreme measures such as banning the banking access to exchanges altogether.

“Crypto has some monetary characteristics, and people’s consensus drives its value,” said Diwan, as cited by Crypto Kanoon. “If more and more people continue to adopt them as a means of payment, then it might compromise our monetary system badly. It also has the ability to [conduct] cross border transactions. That is where the problem lies.”

The Supreme Court will now continue to hear the case tomorrow.

Read the Order of the Court for today.#CryptoKanoonExpress pic.twitter.com/ZC25Xn33D7

— Crypto Kanoon (@cryptokanoon) August 20, 2019

Source - Davit Babayan - NewsBTC

Inter-Ministerial group Suggests Ban of Private Cryptocurrencies in India

An inter-ministerial committee has suggested banning of private cryptocurrencies, like bitcoin, and criminalising any activities related to virtual currencies. It, however, pitched for introduction of an official digital currency with a status of a legal tender and appropriately regulated by the Reserve Bank of India. The report by the committee was released on Monday.

The government had constituted an inter-ministerial committee (IMC) on November 2, 2017, under the chairmanship of the economic affairs secretary, with secretary of the Ministry of Electronics and Information Technology, Sebi chairman and an RBI deputy governor as members to study the issues related to virtual currencies, and propose specific action.

"As for private cryptocurrencies, given the risks associated with them and volatility in their prices, the group has recommended banning of the cryptocurrencies in India and imposing fines and penalties for carrying on of any activities connected with cryptocurrencies in India," said a release in this regard.

The report said that other than Bitcoin, several other cryptocurrencies have emerged, including Ethereum, Ripple and Cardano.

The development comes just after a tech lawyer has uploaded a copy of a draft bill that seeks to ban cryptocurrencies in India and to be deliberated on by the Parliament of India. The draft bill aims to completely ban cryptocurrencies in the country.

As of now, there are around 2,116 cryptocurrencies, with a market capitalisation of USD 119.46 billion, it added.

"Committee is very receptive and supportive of distributed ledger technologies and recommends its widespread use in delivering financial services. It also opens up door for a possible official digital rupee. Private crypto currencies are of no real value. Rightly banned," Subhash Chandra Garg, Secretary, Department of Economic Affairs, said in a tweet.

The committee has also suggested a draft legislation - the Banning of Cryptocurrency & Regulation of Official Digital Currency Bill, 2019.

This report and the draft bill will now be examined in consultation with all the departments concerned and regulatory authorities, before a final decision is taken by the government, the release said.

Meanwhile, the report has also highlighted the positive aspect of distributed-ledger technology (DLT) and suggested various applications, especially in financial services, for use of DLT in India.

"The DLT can be of great benefit to India in several financial and nonfinancial areas. In finance, DLT can be particularly beneficial in the areas of trade financing, lowering the costs of personal identification for KYC related issues, and improving access to credit," as per a recommendation of the panel.

The DLT-based systems can be used by banks and other financial firms for processes such as loan-issuance tracking, collateral management, fraud detection and claims management in insurance, and reconciliation systems in the securities market.

Also, regulators including the RBI, Sebi, IRDA, PFRDA and IBBI should also focus on DLT to explore building of appropriate regulations for development of the technology in their respective areas.

As virtual currencies and its underlying technology are still evolving, the group has proposed that the government may establish a standing committee to revisit the issues addressed in the report as and when required.

However, the group also said the government should have an open mind on the cryptocurrencies.

"The committee is of the view that it would be advisable to have an open mind regarding the introduction of an official digital currency in India," the report said.

As per the panel, which is against private virtual currency, there is no underlying intrinsic value of these private cryptocurrencies.

"These private cryptocurrencies lack all the attributes of a currency. There is no fixed nominal value of these private cryptocurrencies i.e. neither act as any store of value nor they are a medium of exchange," it said.

Since their inception, cryptocurrencies have demonstrated extreme fluctuations in their prices. Therefore, the committee was of "clear view" that the private crytocurrencies should not be allowed.

"These crytocurrencies cannot serve the purpose of a currency. The private cryptocurrencies are inconsistent with the essential functions of money/currency, hence private cryptocurrencies cannot replace fiat currencies," it said.

Virtual currency is therefore distinguished from the Fiat currency of a country that is designated as its legal tender.

Earlier, the RBI had set up a committee to explore feasibility of launching an official digital currency amid central banks around the world exploring the option of introducing fiat digital currencies. PTI KPM NKD

Facebook's Digital Wallet Calibra Won't Launch in India

This week, in a transformational shift from a social network to a blockchain-led financial entity, Facebook unveiled its much ambitious plan with Libra cryptocurrency and Calibra digital wallet in center of everything. In its audacious plan, Facebook is aiming to use Libra to empower more than 1.7 billion people around the world who currently do not have a bank account and transform financial services across the world.

When Facebook first revealed its cryptocurrency plan in late last year, it was said that the its cryptocurrency will let users transfer money on WhatsApp messaging app and India will be first remittances market Facebook will be focusing at. However, in a reply to queries from TechCrunch, a Calibra spokesperson said that the digital wallet will not be rolling out to a number of markets that have taken a stand against cryptocurrency, or are sanctioned by the United States.

“The Libra Blockchain will be global, but it will be up to custodial wallet providers to determine where they will and will not operate. Calibra won’t be available in U.S.-sanctioned countries or countries that ban cryptocurrencies,” the spokesperson told TechCrunch.

Currently, India along with China and North Korea do not allow trading of cyptocurrencies.

But this has also led to confusion over clear picture of Facebook's India strategy as WhatsApp already offers a person-to-person (P2P) payments service in India called WhatsApp Pay. In fact, India is the only market where WhatsApp currently offers its payments service.

A WhatsApp spokesperson told TechCrunch that Facebook is committed to the efforts that it has made on WhatsApp Pay, which is built on top of Unified Payments Interface (UPI), a payments infrastructure backed by Indian government which is also the foundation of Google's G Pay and Amazon's 'Amazon Pay' payment apps in India and is driving hundreds of millions of financial transactions in the nation each month.

Data released by government-owned National Payments Corporation of India (NPCI), who has developed UPI, revealed that the total UPI transactions reached 799.54 million in March 2019.

Currently, WhatsApp’s payments service is available to one million users in India and the messaging app is working with the government for a nationwide roll-out.

Govt of India's SWAYAM is Offering Free E-Course on Blockchain and Cryptocurrencies

SWAYAM -- a programme initiated by Government of India -- is offering a free computer science course on Bitcoin, cryptocurrencies and blockchains.

The 12-week undergraduate course named "Blockchain Architecture Design and Use Cases" is a joint venture from academia and industry, where the target is to cover both the conceptual as well as application aspects of Blockchain, including the fundamental design and architectural primitives of Blockchain, the system and the security aspects, along with various use cases from different application domains.

The online course runs from 29th July to 18th October and the exam will be on 17th November for those wanting to obtain a certificate from the course. The curriculum of the course include Hyperledger, IBM Blockchain Cloud, Ethereum development tools & Quorum, and for self-study SWAYAM website refers to books including "Mastering Bitcoin: Unlocking Digital Cryptocurrencies" by Andreas Antonopoulos among others.

As per SWAYAM, "The course is free to enroll and learn from. But if you want a certificate, you have to register and write the proctored exam conducted by us in person at any of the designated exam centers."

The certification exam is optional and costs ₹ 1000. The certificate received will have the logos of NPTEL,IBM and IIT Kharagpur. NPTEL or "National Programme on Technology Enhanced Learning" is an initiative by seven Indian Institutes of Technology (IIT Bombay, Delhi, Guwahati, Kanpur, Kharagpur, Madras and Roorkee) and Indian Institute of Science (IISc) for creating course contents in engineering and science.

The exam will be conducted in various cities across the country which will be revealed at the time of signing up. Cities that have held exams for other Swayam courses include Lucknow, Kolkata, Guwahati, Mumbai, Thane, Ahmedabad, Bangalore, Chennai, Hyderabad, and Thiruvananthapuram.

Launched in August last year, SWAYAM (Study Webs of Active Learning for Young Aspiring Minds) aims to provide one integrated platform and portal for online courses. The program, backed by the Indian Ministry of Human Resource Development, seeks to bridge the digital divide for students who have hitherto remained untouched by the digital revolution and have not been able to join the mainstream of the knowledge economy.

At present about 1550+ MOOCs courses are listed on SWAYAM of which 800+ courses are already delivered. About 34 Lakhs students have enrolled in these courses.

It is intended to host about 2000 courses and 80000 hours of learning material, within two years: covering school, under-graduate, post-graduate, engineering, law and other professional courses. It is expected to support 3 Crores users in the next few years.

Via ~ Bitcoin.com

Facebook owned Cryptocurrency 'GlobalCoin' a.k.a Stablecoin to Launch in Next Years' 1st Quarter

Social network Facebook is reportedly launching its own cryptocurrency by the first quarter of next year and it is expected that in a coming month or two Facebook will reveal more details about its much speculated crypto-currency, which is being referred to internally as 'GlobalCoin' ans also Stablecoin as per rumours, reported BBC.

Globalcoin, which is reportedly be available in about a dozen of countries at launch, will be tested out this year and for same Facebook has already spoken to Bank of England governor Mark Carney.

"Founder Mark Zuckerberg met Mr Carney last month to discuss the opportunities and risks involved in launching a crypto-currency," said the BBC report.

Facebook has also sought advice on operational and regulatory issues from officials at the US Treasury.

The upcoming digital currency by Facebook is believed to offer people affordable and secure payments without the need for a bank account.

The social media giant is also in talks with money transfer companies including Western Union as it looks for cheaper and faster ways for people without a bank account to send and receive money.

Earlier this month, Facebook has registered a new firm in Geneva, Switzerland called 'Libra Networks', which will provide financial and technology services and develop related hardware and software. Libra Networks specialize in developing blockchain technology, the underlying tech of Bitcoin, and was registered on May 2 in Geneva.

According to an another report by Financial Times, Facebook has also been in talks with both the Coinbase and Gemini exchanges seeking to prepare third-party, regulated platforms for users of its coin to store and exchange the asset. It cites “two people familiar with the matter” as the source of the information.

Notably, Gemini is a firm founded by Mark Zuckerberg’s old legal combatants, Cameron and Tyler Winklevoss, but they also run a highly regulated exchange – a factor that will likely appeal to Facebook, since regulation will be one of its key hurdles with the new cryptocurrency, the FT points out.

​Common Man Suffer while Rich get Richer - 68% of Wealthy Individuals Invested in Cryptocurrencies, Says Global Study

A latest survey by one of world's largest financial advisory firm, deVere Group, says that 68% of wealthy individuals across the globe will invest or have already invested in cryptocurrencies.

The survey, conducted by the Dubai-based deVere Group, an independent financial advisory organization, polled over 700 of the firm’s clients who reside in various countries, including the U.S., the U.K., Australia, Qatar, Switzerland, Spain, Germany, Japan, Qatar, Switzerland, Mexico, Hong Kong, Spain, France and South Africa.

In the survey’s context, a high-net-worth individual was considered one with over £1 million ($1.3 million) worth of investable assets.

"This is the sad part of Crypto ban. Only the common man will suffer while the rich get richer. Always the same #IndiaWantsCrypto," said Nischal Shetty, founder of WazirX, in his series of tweets made objecting India's crypto ban.

Nigel Green, founder and CEO of deVere Group said, "The research shows that wealthy individuals are increasingly seeking exposure to cryptocurrencies. There is growing, universal acceptance that cryptocurrencies are the future of money – and the future is now. High net worth individuals are not prepared to miss out on this and are rebalancing their investment portfolios towards these digital assets."

"Crypto is to money what Amazon was to retail. Those surveyed clearly will not want to be the last one on the boat," he said.

Speaking against the crypto ban, WazirX founder Nischal said in a tweet, "This is day 187. We need to tweet to our minister everyday till we get a reply. The more we tweet, more chances of our voice being heard & crypto getting a positive regulation in India. RT, Like, Share as much as you can every day. Only together can we make this happen.

Nischal, a software developer turned entrepreneur, who has built Crowdfire, an AI-driven marketing assistant used by over 15 million users, has launched Crypto Exchange start-up WazirX in March 2018 in response to the current exchange standards in India.

Dear @arunjaitley @narendramodi

Survey by one of world's largest financial advisory firm says that 68% of wealthy individuals will invest in Crypto

This is the sad part of Crypto ban. Only the common man will suffer while the rich get richer. Always the same #IndiaWantsCrypto pic.twitter.com/OMqPnsVtw3

— Nischal (WazirX) ⚡️ (@NischalShetty) May 7, 2019

In December last year, there were some reports that India may lift ban on cryptocurrencies like Bitcoin, Ethereum or Ripple as an interdisciplinary committee on cryptocurrencies in India formed by the central government had reportedly recommended lifting the ban and legalize it.

However, no substantial steps or even discussions, opinions were heard from crypto entrepreneurs. And, amid general elections in the country, the matter again gets back into long waiting queue.

Last year in May, Indian apex court, the Supreme Court (SC) of India, barred all high courts from filing petitions against Reserve Bank of India's cryptocurrency ban. The move comes when several cryptocurrency firms had filed a petition with the high court saying -- The RBI’s new policy is "arbitrary, unfair and unconstitutional".

Nonetheless, few leading banks and top notch companies of the country including Hindustan Unilever Ltd (HUL), Mukesh Ambani-led Reliance Industries Ltd (RIL), HDFC Bank and ABG Shipyard and few others, have launched crypto and blockchain-based pilots for internal treasury management. These organizations have reportedly integrated cryptos and distributed ledger technology (DLT) into their operations, using the nascent technologies to pay vendors, suppliers and as a transparent treasury management tool,

Source - Irish Tech News

Do Crypto Traders Use VPN?

The short answer is yes. But that doesn’t tell the whole story, does it?

To elaborate on it a bit further, using a VPN is a crucial element of protecting your digital wealth. Just like you would protect your physical resources, you should take similar steps to protect your digital ones – that much is clear. But before you can truly understand how to protect your cryptocurrency, let’s first take a look at how hackers can snatch it straight from your wallet if you’re not careful enough.

There’s more than one way hackers can compromise your wallet

Most commonly, they do this by tricking you into giving them your login details through a fake login page, a practice otherwise known as phishing. You might get a message sent to you via email, or through social media that’s prompting you to update your account details or something similar, pretending it’s from a legitimate sender. In reality, no one else other than a hacker is behind the keyboard. The reason why such a move works is that it was designed to prey on people’s naiveté. Once a hacker gets a hold of your login credentials, all they need to do is log in to your account and empty or transfer its contents.

Another way they use to trick you into sending your hard-earned money into the wrong hands is by infecting your PC with malware that alters the contents of your clipboard. You might be thinking you’re sending the money to a friend or a legitimate charity, but the malware edits the Bitcoin address to the one belonging to a hacker without you noticing.

Now, all of the above-mentioned methods of crypto-theft have something to do with trickery. One would think that by simply staying alert at all times and double-checking everything such grim scenarios could be avoided with relative ease. Unfortunately, this isn’t the case. What if you knew that in certain situations, hackers could intercept your login credentials despite you exercising the maximum caution?

Why crypto traders view VPN as an essential cybersecurity measure

Apart from safeguarding your privacy and anonymity online, a VPN also has another important function. It encrypts the traffic exchanged between your device and the server you’re communicating with. In other words, even if someone were to intercept it on its way to the intended destination, it would be utterly useless to them without knowing the proper key.

When logging in to your crypto-trading accounts, inputting your login credentials is a necessary evil. However, if you’re connected to a potentially unsecured network (such as the public Wi-Fi’s you often find at a cafe or any other public place), they could be intercepted by a third party at this very point. Having two-factor authentication turned on helps a great deal, but not all providers support it, so there’s no need for you to be taking chances for no reason. Just get a VPN. It will help you sleep at night.

Some crypto traders are concerned about the government surveillance

 

Bitcoin (and other cryptocurrencies) is untraceable by design. Or is it? As the industry experts will tell you, the government has been actively trying to trace its flow, and they may be spying on your transactions as well – your ISP may be assisting them with it. Furthermore, certain cryptocurrencies keep tabs on all the transactions and send them straight to the government whenever requested. The bright side of using a VPN is that the ISP won’t be able to see what’s going on, and you will remain anonymous in the eyes of the government.

What else do you need to engage in safe cryptocurrency trading?

 

First and foremost, you need to make sure there is no malware installed on your computer or smart device that might be spying on your transactions. Otherwise, nothing mentioned in today’s article will make a difference. This can be done in two ways; either by reinstalling your OS or scanning it with an antivirus software of your choice. If you’re extra-paranoid, reinstalling the OS might be your best bet (since not all antivirus scanners are 100% accurate).

Then, you need to make sure that your software and OS is always kept up to date. That way, it’s going to be less vulnerable to hacks and exploits. Finally, if you’ve decided that you’re going to store your cryptocurrencies on your local machine, double-check it’s encrypted and make regular backups to ensure you don’t lose access to it overnight.

Conclusion

Safe cryptocurrency trading is a complex beast, but yes – buying a VPN is undoubtedly a crucial part of the overall equation. By now, you should have a good idea what you should be doing to stay as safe as possible, and if you still haven’t applied everything we’ve mentioned, now is the time to do so.