Australian Competition and Consumer Commission Releases its Digital Currency Scam Report

The Australian Competition and Consumer Commission have just released a report recently on scam economy trends of the year 2017. Now, the report addresses a very important concern. It talks about the techniques that have been adopted by the scammers to indulge in digital currency scams.

This report has been compiled because, during the year 2017, the Australian Competition and Consumer Commission received about 200,000 reports that talked about the digital currency scams. The truth is that these scams lead to a loss of about $340 million. If we compare the records of 2016 and 2017, then one thing is quite evident, and that is the loss percentage is about 13.3% more in comparison to the loss records of 2016.

The report sheds light on a very important issue, and that is the losses occurred because the digital currency caused a frenzy. Many of the investors got carried away in this situation and did end up investing in scams.

If we re-trace the records of 2017, then the losses were about $100,000 from January to September. However, the loss amount increased drastically way back in December 2017, and it reached about $700,000. The average loss jumped from $1885 to about $13205.

Most of these scam activities occurred through fake initial coin offerings, and this is how most people lost their money. Some people also cashed on the fact that the digital currency is a comparatively new concept and they cashed out on the confusion of the users.

If the scam scenario is observed, then one thing is quite clear. Most people ended up investing in fake digital currency schemes because their friends and family convinced into opting for new schemes with no reliability. Another way that the scammers caused harm to people is that they took payment in digital currency.

Now, that we have a clear picture regarding the digital currency scam, it is important to identify the need for strong measure and regulations. If the digital currency regulations are rigid, then it will become very difficult for the scammers to follow their course of action.

It is also important that the investors need to be vigilant when they decide to invest in digital currency. They should gather enough information about an initial coin offering. If they are making any investments through an exchange, then the investor needs to have all the relevant insight about the exchange as well. This way the investors can easily play safe.

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Golix to Challenge the Decision of Reserve Bank of Zimbabwe to Ban Digital Currency

The cryptocurrency enthusiasts in Zimbabwe are in for some disappointment. The reason is that the Reserve Bank of Zimbabwe just issued a circular recently. The bank has banned all the digital currency activities taking place in the country. Now, most of the local digital currency exchanges are not happy with this news, and one of the exchanges has decided to take action against this step.

The exchange which has decided to take this initiative is Golix. This exchange has decided that it will take the central bank to the court for banning the digital currency assets. The exchange feels that the Reserve Bank of Zimbabwe does not have the right to ban the digital currency.

This ban does have serious repercussions, and it has affected the local bitcoin trades across the country. Two other exchanges have also been affected by this ban. These exchanges are Styx24 and But finance.

The major disappointment for Golix is that it was in the process of organizing an initial coin offering when this ban circular was issued. The faith of the digital currency can only be decided once the court proceedings progress.

What is apparent is that all the local digital currency exchanges will experience major loss due to this ban. There is also a possibility that once the court proceedings progress, then the bank might decide later on to give some concession to the local exchanges. However, at the moment all these are assumptions.

One thing is quite clear, and that is if Golix has decided to step into the court, then it is important that the exchange should organize its facts so that its case is strong otherwise Golix will not be able to excel in this battle.

The Reserve Bank of Zimbabwe should also come out and give a clear explanation of why it took such a strong step against the digital currency investments because this news is alarming and sad for the onlookers.

The truth is that when legal actions are taken to ban digital currency operations, then this puts the future of the local currency exchanges on the line. The same happened in case of Golix. The digital currency investors in Zimbabwe are in a dilemma currently, and it is tough for them to deal with this situation.

The best approach should be that the investors should wait and let this digital currency scenario clear out in Zimbabwe and should not make any investments at the moment.

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Investigations in Full Swing to Expose Digital Currency Scams

Cryptocurrencies have started their success journey, but the truth is that many are trying to cash out on this success. This is the reason that many digital currency scams have emerged on the forefront in the recent years that need the attention of the authorities.

At the moment about 40 regulators in Canada and the US are working to unleash some of the digital currency scams. About 70 investigations cases are in process. If we look at the records, then about 35 cases are pending or completed so far.

The basic objective of these investigations is to uncover all the unregistered securities that promise huge returns to the investors. The problem here is that the investors are completely oblivious to the risks they face and these investments can turn out to be a fatal error on the part of the investors.

At the moment many of the scams seem to be using the fake addresses. Some of these fake crypto programs are also using the photos of the high-profile individuals. This is why they pose more risk to the investor because they are giving the impression that investing in them is a safe move on the part of the investor.

The alarming part is that there is no end to the digital currency scams if the investors dig down into this market. Just last week Wall Street Journal revealed some shocking revelations. If we look at about 1470 ICO records, then the truth is that about 271 of the ICO have red flags. The worst part is that these ICO presented fake executive teams as well.

An organization backed by the Chinese government also presented its report recently, and it revealed that currently there are about 421 fake cryptocurrencies. The truth is that this figure is quite high.

If we look at the current scenario, then the demand for digital currency is quite high at the moment. This is why most of the investors are even willing to take extreme steps so that they can gain exposure to the digital currency. This is why the risk for the investors has increased in the recent years.

The best approach to adopt at this point in time is to uncover all the scams so that investors do not fall prey to these scams. Once the scams are revealed and taken to task, then this will turn out to be a lesson for many.

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Purse.io Ready to Launch Bcash

There has been a massive advancement in the field of digital currency, and it is receiving support from all the relevant sectors. Just recently, a Hong Kong-based firm named Purse announced its support for the BCH.

The company has also taken another major initiative, and it plans to go ahead with the implementation of Bcash. The Bcash can be termed as an alternative implementation of the Bitcoin Cash protocol. After these major developments Purse is all set to celebrate the addition of Bitcoin Cash.

At the moment the company has decided to collaborate with Bitcoin Cash fund. Plus, the customers will also be able to acquire a bonus due to this ongoing celebration. The customers can look forward to BCH cashback bonus.

Purse wants to make sure that things go as per plan. This is why they plan to test run the Bcash implementation. This way the company will not have to worry about a chance of failure. However, Purse should keep one thing in mind, and that is it will face some teething issues once it decides to go ahead with Bcash implementation.

The important thing is that the company should do all the necessary spadework needed to make the launch a success. Secondly, the company has already announced that it will be offering bonuses to the customers. Now, what is needed at this point is a promotion. The purse should offer all the necessary awareness to its customers so that they remain interested in the entire affair.

The positive aspect of the whole story is that Purse has made advancement in the field of digital currency. This is surely something to celebrate for the digital currency enthusiasts. If BCH is getting the relevant support from big firms, then this will increase the trust and reliability in the digital currency niche.

Plus, more companies will be encouraged to make progress in the field of digital currency because they will be sure about the fact that their effort will not go in vain by any means at all. What Purse should do at this point in time is that they should have a backup plan ready to deal with any mishaps related to Bcash implementation.

This way the entire affair will not lose its charm. Let us hope that Purse makes more such moves shortly that can benefit the digital currency industry. This will surely benefit the digital currency community.

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Coincheck prepared to expand operations in the US

The Japanese exchange Coincheck is all set to make some major progress. It is planning to expand its operations in the United States of America. Coincheck seems to be quite inclined to increase its client base in America.

At the moment the exchange has not done any work in this regard, but the planning is in process at the moment. However, there are many challenges that Coincheck will have to face at this point. The US does not have a clear framework related to digital currency at this point.

This is why Coincheck will have to invest time and effort to understand this framework, and then they can think along the lines of making investments in the United States of America. Coincheck had its fair share of success so far. This platform spent a lot of money and effort to improve its security structure, and the truth is that this effort has not gone vague so far.

The truth is that expanding the operations in the United States of America is a major move on the part of this exchange. This is why the exchange will need to study the pros and cons of this step. Only after a clear analysis, Coincheck will be able to draw a clear conclusion in this regard.

This exchange feels that investments and expansion in the west may benefit the future of this exchange for the better and it may get the much-needed success that it has been looking for throughout.

At the moment it is also important that Coincheck should keep an eye on the regulation trends in the United States of America. This will have a vital impact on the value of the digital currency. Plus, this will help to define the role of the digital currency exchanges in the US.

The expansion plan surely deserves to applaud, but Coincheck should make sure that it pays attention to the risks as well. The United States of America is a new market for the digital currency exchange Coincheck, and this is why this exchange cannot afford to make any hurried moves.

The smart approach is that the exchange should plan its strategy for digital currency investments so that it does not end up with any losses once it expands its operations in the United States of America. A further conclusion can be drawn about the expansion once Coincheck executes its expansion plan in the US.

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Colorado ready to allow digital currency donations for political campaigns

Colorado State has some new plans when it comes to digital currencies. The state has decided to allow the political candidates to raise funds by making use of the digital currencies. This action has not come up a a surprise. The reason is that Colorado is the kind of state that often tests new laws.

A committee will be set up that will accept the digital currency contributions. However, there will be a defined limit for the coin contribution. The contribution amount depends upon the value of the digital currency at that point of time.

In fact, the process of accepting the contributions in digital currency has already started off. At the moment a Colorado state official has already accepted donations in Bitcoin Core. The truth is that other bureaucrats have also accepted the donations in Bitcoin Core in the past.

If we look back at the records, then the largest digital currency donation was given way back in December. Austin Peterson, a US Senate Candidate, accepted a donation of about 0.284 BTC. The worth of this much BTC was about USD 4,500 at that point of time.

One thing is quite clear from all this, and that is accepting a donation in digital currency is not a new trend for sure, and it is going to last for a long time. It will not be wrong to state that this is quite an innovative way to promote digital currency. In fact, accepting a donation in digital currency can be termed as a new way to utilize this digital currency.

It seems that more political candidates will surely like to cash on the idea and they will surely want to raise funds through digital currency. There is no denying the fact that digital currencies fund campaigns can truly be quite an effective way to raise the necessary funds.

However, the political candidates need to have a clear line of action and plan in their mind. This way they will not have to worry about the fact that things will mess up. What the political candidates need to do is that they should observe the current campaigns and see how they were planned.

This way the candidates will be able to get a clear picture and can conclude the future of their political campaign related to digital currency funding. It is very important to maintain a level of transparency in the entire process to make it a success.

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UFJ to launch new digital currency by the name of Mufj

Mitsubishi UFJ Financial Group has big plans ahead. The company has just made a plan to roll its very own token. UFJ will launch the Mufj Coin by 2019. The biggest achievement on the part of UFJ is that they are offering more of a variation in the digital currency. Initially, the Mufj Coin will undergo a bit of testing.

Initially, about 100,000 users will be making use of the Mufj coin. The users will be able to shop everything from the retail stores. This includes food and clothes as well. At the moment the Mufj coin is making use of a new technology that focuses on a network of small computers.

For using the Mufj, the users will first need to download an app. They will have to convert the fiat deposit as well. The basic objective to introduce the Mufj coin was to reduce the transactional frictions.

Now, Mufj is leaving no stone unturned to acquire the cooperation of other banks as well so that it can excel in its mission. It seems that the battle is not going to be so easy for Mufj and it will have to compete with other coins as well like J-Coin.

The success of Mufj primarily depends upon how things are planned. What UFJ needs to do is that it needs to plan out things well. This way the company can look forward to the success of Mufj.

The truth is that UFJ has a solid success history. At the moment this company has about $2.5 trillion in the assets. It is also one of the top holding companies so there are little chances that UFJ will have to face failure. All the users who intend to make use of Mufj should watch for all the necessary updates related to this coin.

One thing is quite evident in this situation, and that is digital currency is making progress at a massive rate. One thing is quite obvious that more such firms like UFJ will soon walk in the digital currency niche and may come up with their coins. The users will surely benefit from this situation and will have ample choice when it comes to choosing the digital currency.

As far as Mufj goes, the conclusion about this coin can be drawn once it is released in the market in the year 2019. At that point in time, we will get to know the real view of the users regarding this coin.

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Bitcoin Cash Network is ready to offer 32MB blocks

Bitcoin Cash Network has made some major progress. The network has decided to increase its block size from 8 MB to about 32MB. The increased block size will allow a huge number of transaction processing.

Some people have a misconception that the Bitcoin Cash Network will be able to start processing the 32MB block size right away but that is not the case for sure. The truth is that the 32MB code is designed to work in the future.

At the moment the developers have increased the block size because the Bitcoin Cash Network has the capability to bear this limit. At the moment the miners decide the limit of the block size and the developers are there to assist the miners so that the blocks can achieve their maximum capacity in the near future.

Last year the developers made a serious mistake and that is they allowed the Bitcoin Cash Network to fill up beyond its maximum capacity. However, the developers are trying to ensure that such a thing should not happen again and 32MB block size has been decided after a lot of planning on the part of the developers.

If the Bitcoin Cash Network exceeds its capacity, then it will lose its reliability level. Ideally, the block size should only be increased if the miners feel the need. Once the miners have analyzed this need they will also do the necessary transactions. When the block size has been finalized, then it will eventually lead to mass adoption.

If we compare BTC and Bitcoin Cash at the moment, then one thing is quite evident at this point of time. The Bitcoin Cash transactions are quite less in comparison to BTC. However, this does not mean that Bitcoin Cash chain does not have much use. The Bitcoin Cash Chain is quite useful. What is needed is proper planning to utilize this chain.

One thing can be concluded for sure. The positive development is that the Bitcoin Cash Network can now process 32MB blocks instead of the 8MB. Secondly, there is no denying the fact that the Bitcoin Cash miners do have the capability to process large blocks.

After this major development some of the users also feel that block size limit should be removed completely from the Bitcoin Cash Network. It is yet to be seen whether the developers decide to take this suggestion seriously or not. Till then we need to wait for the next move on the part of the developers.

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Thailand all set to waive off some VAT on digital currency transactions

Thailand is leaving no stone unturned to provide a legal framework for the digital currencies. At the moment the private companies and the individual investors have to pay income tax for the digital currency transactions. However, Thailand’s Revenue Department is all set to make some relaxations in this regard.

Thailand has decided to waive off about 7% of the tax for all the individual digital currency investors. This tax waive off is only applicable on the digital currency markets that is regulated by the Securities and the Exchange Commission. The main reason that the tax is being waived off is that the Thailand Financial Authorities want to reduce the burden on the individual investors and to help them excel in this respective niche.

What the investors need to keep in mind is that they still have to pay the withholding tax that is equivalent to about 15%. This tax needs to be paid on the earning which the trader makes through a transaction.

The tax has been waived off for yet another reason as well. The Thai authorities intend to provide a safe trading environment to the investors and encourage them to invest in this field. The truth is that this has been a positive move on the part of the Thai authorities and this step may play a crucial role to promote the digital currency sector.

At the same time it is important that the investors should make their investments wisely and develop a strong understanding about the current digital currency market trends. It can be assumed that if this tax waive off measure proves to be effective, then the Thai authorities may adopt some more measures in the near future to promote the digital currencies.

The new investors can also cash on this opportunity but ideally they should study the prevalent digital currency market trends in Thailand. This way they will not have to deal with any potential losses. Thailand is gradually developing into a potential hub for digital currency investments.

The Thai authorities should ensure that all the companies and the exchanges dealing in digital currency investments should maintain a level of transparency. The Thai exchanges should also try to improve their operations and adhere to the regulations that have been established by the authorities.

This way Thailand can lay down an ideal foundation for digital currency investments and there are probable chances for future development as well.

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Etoro plans expansion and introduces 10 digital currencies

Cryptocurrencies is gaining the attention of all the major platforms. Recently, Etoro the social media platform has decided to expand into the crypto space. This platform is planning to offer digital currency investments. Initially, Etoro will be offering about 10 digital currencies to the respective users.

However, the company does have plans to add up more digital currencies to Etoro in the near future. The reason Etoro is planning to add up digital currencies is that it has experienced quite a boom when it comes to digital currencies. About 70% of the Etoro users are currently, trading the digital currencies and this venture is going well for the users.

The Etoro users will have access to many additional facilities when they decide to use Etoro for trading digital currencies. The users will have the access to different tools and community feeds. The benefit of this practice is that the users will be able to indulge in conversations related to digital currency and they can improve their knowledge.

Now, the good news is that Etoro investments can be considered to be safe. This platform was launched way back in 2007 and it is regulated by the Cyprus Securities. The best part is that this platform enjoys a massive number of users as well. At the moment Etoro has about 10 million registered users. This number shows that Etoro has been successful in winning the trust of its clients so far.

When you will look at the website of Etoro you will notice the fact that a huge number of open trades are available and this shows that Etoro is quite a happening platform. What Etoro has ensured is that it is just focusing on the element of quality. The platform makes sure that it offers a user-friendly environment to the users.

The simplicity of the platform is what has been luring the traders so far. Moreover, the platform is focused upon bringing more improvements so it seems that the success tenure of Etoro is bound to continue. Secondly, Etoro has ensured that it offers multiple investment options to the users.

The users have the option to invest in a coin manually. The investors even have the option to copy the traders of other trades. This way the new investors can benefit from the knowledge of the experienced traders. The investors also have the option to invest in the Crypto Copyfund. The diversity of Etoro is appealing and the traders should make sure that they make use of this platform for trading digital currencies.

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Bing to ban digital currency ads

Bing search engine has decided to take some major steps and it has updated its policy regarding the cryptocurrency ads. At the moment Bing has decided that it will not allow the digital currency ads. The purpose of this move is that Bing is keen to provide a safe environment to its users and they want to offer a reliable digital ecosystem.

Apparently, this seems to be a smart move on the part of Bing because cryptocurrency ads can lead the users into opting for digital currency scams. The users who are comparatively new to digital currency are more vulnerable to these scams.

The main reason Bing does not want to promote the digital currency ads is that they are not regulated at the moment so the transparency element is missing. This is what eventually poses a major risk to the users who are keen to use the digital currency. If the regulations would have been there, then there is a possibility that Bing may not have been so apprehensive about promotion of digital currency ads.

It seems that Bing is quite conscious about its reputation. Currently, it grabs about 60% of the internet traffic so it seems that a lot is on the line for this search engine. The rule to ban the promotion of digital currency ads was initiated in the end of January. The rule explicitly stated that no such financial products should be promoted that can lead to deceptive scams.

Well, the truth is that this may not turn out to be good news for all the genuine digital currency ventures because they are being deprived of a platform for promotion. Apparently, it seems that Bing has followed in the footsteps of the major social media platforms like Twitter that have already banned the digital currency ads.

At the moment it seems that Bing is not ready to make any relaxations regarding the ban but things may become a bit flexible in the near future provided regulations are established for digital currency Ad promotion as well.

It seems that the digital currency community needs to work hard to acquire the trust of search engines like Bing. The digital currency exchanges need to organize their operations and streamline all the essential elements so that search engines like Bing take interest in their promotion.

At the moment all this seems hard but this is not an impossible endeavor for sure.

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The Swiss crypto exchange Dex.Top is creating headlines

Switzerland has decided to step into the race and make the relevant progress in the digital currency sector. The good news is that Swiss exchanges are also making progress in this regard. Recently, a Swiss exchange by the name of Dex.Top introduced the concept of smart contracts for managing the decentralized trades.

Dex.Top truly deserves credit for being a versatile exchange. The best thing is that this exchange is compatible with RSK and Ethereum networks as well. The exchange makes use of the smart contracts for holding the assets.

The good news is that the users of Dex.Top have complete control over their assets and can access them whenever they feel the need. The users also need to sign the transactions related to their assets. All this adds up to the element of security. No wonder the users are willing to invest their trust in Dex.Top.

The platform makes use of a specialized algorithm for securing the assets. This algorithm is known as the Rafts algorithm. The goal of this algorithm is to improve the usability and security of the platform.

The algorithm makes use of Replayed on chain mechanism. This helps to provide the instant trading opportunity to the traders. At the moment this platform makes use of the ERC-20 framework but the developers are eager to make more progress in the near future. They have made up their mind to add up more public blockchains to this platform.

All the exclusive features offered by Dex.Top will be available for the users by the end of May. At the moment the users have to use Metamask as the wallet for managing the Dex.Top transactions.

When the users wish to make a deposit or if they want to transfer their assets, then in this case they will have to sign the transaction using the Metamask UI. The exchange Dex.Top is also planning its expansion in the near future. It will be collaborating with other wallets.

The only problem with this exchange is that at the moment they have limited volume and the number of users is also limited. However, once the exchange is fully functional, then these limitations will be eliminated automatically and the users will be able to enjoy the facilities offered by this exchange.

If Dex.Top operates as per its game plan, then there is no turning back for this exchange and its popularity will surely continue to increase.

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Upbit the South-Korean exchange is under investigation

South-Korea has been putting a lot of efforts to bring about transparency in the way the digital currency exchanges operate and is leaving no stone unturned in this regard. All the digital currency exchanges that appear to be having a shady operation are under investigation. One such exchange is Upbit.

The interesting part is that Upbit is one of the largest exchanges in South-Korea. However, it has not been able to satisfy the authorities regarding its operations. The authorities are quite keen to investigate the operation of this exchange. This can be considered a positive step on the part of the authorities because they want to offer a clean and transparent trading environment for the digital currency sector.

At the moment the investigation is under process and the authorities are trying to dig down the truth. The final investigation results will decide the faith of Upbit. At the moment the authorities have taken the Upbit computers into their custody. The reason behind this is that the authorities want the truth to be out soon.

The main issue at the moment is the liquidity of some of the coins. What is questionable here is that Upbit does allow the trading of digital currencies despite the fact that it does not have the actual coins in its custody. This is something alarming and concerning for the authorities.

Another issue that is currently being faced by Upbit is that if a user wants to transfer or withdraw his coins in one go, then this operation cannot take place right away. The authorities feel that the users should have immediate access to their coins upon request.

On the other hand, Upbit is trying to come up with explanations so that it can win back the trust of the authorities. Upbit wants to present the picture that the entire case is more of a misunderstanding and they are trying their utmost to secure the digital currencies. Upbit also wants to clarify that there is some ambiguity in understanding its trading procedure. This is one of the reasons that the authorities are not satisfied with the operation of Upbit.

The important thing is that the truth needs to come into the limelight otherwise it will become very difficult for the users to invest their trust in this exchange and it may not have a bright future ahead. The final conclusion can be drawn once the authorities present their final report regarding this exchange.

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GMO all set to bring about major developments in the digital currency sector

GMO the Japanese Internet Giant has big plans ahead. The Internet Giant has decided to manufacture and also sell about 7nm mining chips for the bitcoin. GMO intends to utilize these chips for its individual mining operations as well. The best part is that all those who are interested in these chips can get the chips reserved right away.

At the moment GMO has decided that it will create about two different chip sets. One version is known as V1 and the other version is known as V2. The first version will act as more of a prototype whereas the version V2 will be used for the mass production.

Now, the company plans to use the version V2 of the mining chips for multiple purposes. It plans to use the chips for cloud mining as well. At the moment the company has not quite specified the dates for the sale of the chips.

The truth is that GMO’s mining operation has advanced this year. This operation started way back on December 20th 2017 and there has been no turning back for the company since then. The good news is that the hash rate of GMO is increasing for the better.

The number of bitcoins being mined is also increasing so that is bound to benefit the company and the customers as well. GMO is a versatile internet giant and they are putting their efforts in multiple avenues when it comes to digital currencies. Currently, the company is also operating a crypto exchange that is known by the name of GMO Coin.

What is appreciable here is that GMO does not intend to stop its efforts here. The company is planning to come up with a payment service for cryptocurrencies. At the moment things are in the pipeline but it seems that GMO will soon bring in some positive output.

It seems that GMO is bound to get success in its ventures because the company is putting a fair amount of effort in planning. However, this internet giant needs to remember one important thing and that is they should not allow the quality of their existing services to decline.

They should also ensure that their crypto exchange maintains a smooth operation. This way the customers will not lose trust in the credibility of GMO and will continue to confide in this internet giant for a long time to come. At the moment we can also be hopeful that GMO continues its success tenure.

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Coinbase maintains its position as one of the top digital currency platforms

Coinbase has been able to maintain a successful stance and still remains one of the top cryptocurrency industry firms today. The reason is that Coinbase has got so much to offer to the users. It has got an easy to use interface and it has got quite a flexible business model that is equipped to support the needs of the users.

The biggest incentive for the users is that they do not have to pay an upfront deposit as well and this is yet another edge that users get when they decide to opt for Coinbase. This platform has been in the market since the past six years and going well since then.

It is quite easy to use the Coinbase platform. You simply need to link your bank account with this exchange and start trading right away using this platform. The best thing is that there is no restriction on the transaction amounts. The users can even trade transactions as low as about $2 so this seems to be a big perk for all the users who are relatively new to the digital currency and looking forward to taking their first step in this field.

At one point of time Coinbase gained so much popularity that it became one of the top downloaded applications of Apple and it is surely a big achievement on the part of this platform.

This is why all the investors who are eager to make it big in the crypto world should give this platform a try. Ideally, the investors should make sure that they explore the features of Coinbase in detail before deciding to opt for this exchange. This way the users will not have any unpleasant surprises coming their way.

Apparently, it seems that Coinbase will continue its journey of evolution and will continue to inculcate great features that will surely benefit the investors in the long-run. At the moment Coinbase is on a mission to make the digital currency safe and they are leaving no stone unturned to achieve this objective.

Till now Coinbase has been maintaining the appropriate stance in the market as well. This exchange has been vocal about its point of view when needed and did not hesitate to take a back seat when things were not going in its favor. If Coinbase continues its strategic moves, then its success stride is bound to continue in the long-run for sure.

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Vietnam, Thailand, South-Korea and Philippines all set to launch their digital currency exchanges

Cryptocurrency is also set to conquer the world. No wonder digital currency exchanges are opening up globally. At the moment new digital currency exchanges have opened up in Thailand, Philippines, South-Korea and Vietnam.

The digital currency exchange that has been launched by South-Korea is Coinbit. This exchange has been launched by a South-Korean game developer known as Axia Soft. This exchange is trying its utmost to lure as many customers as possible and this is why they have decided to offer zero commission trades till the end of May.

This is why digital currency investors are bound to get inclined towards Coinbit investments. Currently, Coinbit has decided to list about 50 coins but this is not the end. The exchange will include 100 more coins in the coming months.

Another exchange has been launched in Thailand by the name of Jibex. This exchange has been launched by an IT company known as JIB Computer Group. This IT group also deals with the distribution and resale of computer hardware.

Jibex has decided to start slow and initially they will be offering only about 5 digital currencies on their exchange. However, the exchange does have its plan to introduce more digital currencies in the near future.

Vietnam has come up with Kenniex digital currency exchange. This exchange states the fact that it is the first e-money trading platform in Vietnam. The best thing about this exchange is that the investors can also get the necessary advice from the exchange plus they can avail the trading services of Kenniex also.

The good news is that Philippines has also decided not stay behind in this race and a digital currency exchange will soon be launched in Philippines as well. Apparently, it seems that Philippines will get the desired success in the digital currency industry.

There is also a possibility that Philippines will host the largest market for digital currency investments. It is a very good move that all the countries are taking interest in the digital currency industry. However, managing these exchanges and maintaining the element of transparency can itself be a challenge.

This is why all those countries that are eager to launch digital currency exchanges need to be well-aware of the regulations related to digital currency investments. This awareness will benefit the investors and the exchanges alike and the investors will not be apprehensive about their digital currency investments if clear regulations are available.

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Digital currency ban stands ineffective in Pakistan

Cryptocurrency is getting popular in Pakistan as well and the digital currency ban in Pakistan has not been successful so far. At the moment the State Bank of Pakistan has not allowed the financial firms and commercial banks to deal in virtual currency. This is why things are getting a bit harder for the local exchanges.

However, the individual traders have not allowed the ban to dampen their spirits. They are finding out different ways through which they can sell or buy the digital currency. At the moment the authorities have not been able to come up with effective measures to stop the virtual currency niche from expansion.

The virtual currency structure is still a bit unstable in Pakistan and the regulations need to be defined so that this niche gains the much needed acceptance in Pakistan. Apparently, it seems that the State Bank of Pakistan is following the footsteps of the Reserve Bank of India that issued a circular for banning the digital currency trades and investments.

At the moment nothing can be said for sure regarding the effectiveness of this digital currency ban in Pakistan. However, this ban has effected some of the local exchanges in a negative way. Urdubit that claims to be one of the first digital currency trading platform had to be shut down in haste due to this prohibition and this is a bit disappointing for the digital currency enthusiasts.

There are chances that some of the digital currency investors may continue with their investments but this can turn out to be a risky venture because this norm is not currently accepted in Pakistan.

The greater possibility is that the digital currency investors will not give up on their trading activities and there is a special reason behind it. The volume of crypto trading has picked up recently since the digital currency investors discovered alternative methods. This is why this is going to be an encouraging factor for many of the digital traders out there.

The strange part is that investor interest in digital currency investments has increased since the bank so it seems that the ban has backfired and more people are eager to make digital currency investments.

One thing is quite clear from the current scenario and that is the digital currency investments will never become history and will continue to steal the limelight for a long time to come in Pakistan. Till then it will be viable to wait and watch the current scenario.

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The Supreme Court of India continues its ban on banking sector crypto services

India’s Supreme Court is currently not willing to remove the ban on crypto services offered by banks. The Reserve Bank of India has passed a circular at the moment which intends to keep the ban in place till a formal hearing takes place.

This ban was recently challenged by Crypto Kanoon. The Crypto Kanoon is an active group of lawyers. This group challenged the ban on crypto services imposed by the Reserve Bank of India.

Now, this ban turned out to be a major blow for all the crytocurrency enthusiasts who were hoping that this ban on banking sector crypto sector will not stay in place for long. The circular that has been issued by the Reserve Bank of India clearly states that currently the bank will not provide any services related to digital currencies.

Plus, the Reserve Bank of India will not facilitate any virtual currency dealings. This means that the cryptocurrency enthusiasts in India will need to show a bit of patience in this regard and will have to wait for the things to take a positive turn. At the moment it seems that the Reserve Bank of India is not willing to make any relaxations in its circular.

Apparently, it seems that the Reserve Bank of India is a bit sceptical about accepting the digital currency at this point of time. This is fairly understandable because digital currency is currently a new concept and it will take people a bit of time to accept this new concept.

The regulations regarding the digital currency also need to be more well-defined so that the financial authorities willingly accept this new niche. At the moment it is not possible to determine the concluding stance of the Reserve Bank of India regarding the digital currencies.

What needs to be mentioned here is that despite the prevalent opposition, the digital currency enthusiasts have decided not to give up on their mission and many are voicing out their concern regarding this ban. Hopefully, things will take a turn for the positive and the Reserve Bank of India might review its circular again the near future.

What digital currency investors need to understand is that digital currency needs to get the required acceptance from the banking sector as well. Otherwise this niche will not be able to excel in the long-run and the investors will also have to face a lot of hurdles in this regard.

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Cryptocurrencies experience a drop in value this week

The current week has not been bringing great results in the cryptocurrency niche. Most of the digital currency assets have experienced a decline of about 3 % to 15% in value. At the moment the value of Bitcoin Cash is about $1446 and the value of Bitcoin Core is about $8473.

Now, this has created an element of uncertainty among the digital currency traders and they are sceptical about adopting the future line of action. However, some of the digital currency investors are thinking on a positive note as well and they believe that the value of digital currency will soon rise in the coming week but at this point of time nothing can be said for sure.

If we look at the past trends, then one thing is quite evident and that is the value of digital currency tends to increase in Mid of May every year. This is why we can have positive hopes this year as well that the month of May will uplift the value of the digital currency.

The investors need to be quite careful in digital currency investment at this point of time and they should allow the market to become more stable. This way they can avoid losses and play safe. If we look at the technical indicators relating to digital currencies, then they are showing a bit of consolidation.

The technical indicators will play a positive role to ascertain the exact situation of the market at this point of time.

Ideally, the traders should wait till the next week for the value of digital currencies to improve. The best approach at this point of time is to wait and watch because it is not advisable to depend a lot on a vulnerable market.

At the moment most of the top exchanges are still trading the BTC pairs and things seem to be improving gradually. The truth is that the digital currency market is volatile so the trader has to understand the psyche of the market to excel. You cannot afford to make rushed moves in the digital currency market because that can end you in greater losses.

The best approach to adopt in the digital currency world is to go with the stride. This way you can look forward to consistent profits and you will not have to be disappointed with the end results. For now let us hope that the next week turns out to be more profitable for the digital currency investors.

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Software developers all set to work on crypto projects in India

Cryptocurrency is doing quite well in India and there are major happenings taking place in the field of digital currency in India. If we analyse the skillset, then currently about 5000 software developers in India have the necessary skillset to work on crypto projects. There are about 10,000 developers who are all set to be trained to be a part of the crypto projects.

This study was recently conducted by an HR company known as Belong. The company emphasized that about 30,000 developers who have worked in the back-end roles will require extensive training to be a part of the crypto projects.

The developers who can work on the crypto projects need to have the necessary skill in cryptography, algorithms and data science. If the developers do have the necessary skill, then they can truly look forward to a bright future in the field of digital currency.

At the moment many companies are keen to enter the crypto space so it seems that the skills of these competent software developers can be well-utilized. The real challenge for most of the companies is to find these developers who have the necessary skillset and can utilize their skills in the best possible way.

The training is bound to make a lot of difference. If the developers are trained well, then this will help to establish the Crypto space in India and the crypto industry will prosper in India. There is no denying the fact that digital currency market is growing at a massive pace. This was recently endorsed by the freelancing website Upwork as well.

Upwork recently revealed that Blockchain industry contributes to the 20 fast growing jobs. The developers should make sure that they cash on this opportunity in the best possible way. They should dig down into the skills that are required to achieve success in this industry.

One more thing that the developers need to keep in mind is that the competition will also increase along with the opportunities so one thing is quite clear and that is there is no place for the second best in this situation.

If things go right, then India is bound to experience a boom in the digital currency industry and competent developers will benefit from this industry. However, things need to be planned well so that there are no hurdles for developers who want to be a part of the crypto projects.

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Australian Government decides to take action against deceptive initial coin offering

The financial regulation authorities in Australia are quite concerned about the misleading initial coin offerings. This is why some of the issuers are thinking on the lines of modifying their structure.

In fact the Australian authorities have decided to take action against the deceptive conduct of the ICO’s. Now, this action does deserve applause because Australia wants to encourage an attitude of transparency when it comes to initial coin offerings and digital currency.

The deceptive ICO’s can be more of a threat for the investors who are relatively new to the field of digital currency. If the investors fall prey to the deceptive ICO’s, then they can lose a fair amount of investment at the end of the day.

At the moment the authorities are questioning the ICO issuers so that they can identify the element of deception. The authorities are also keen to identify the unregulated activities. The ICO issuers also need to take this questioning on a positive note and bring about the needed changes in their structure.

If the ICO issuers follow the rules that are set by the authorities, then it will become easier for the investors to confide in the ICO and they will take part in these ICO’s with full zeal and zest.

The authorities are keen that the ICO issuers should not be passing misleading statements as it can be quite upsetting for the investors. If the investors do not confide in the ICO’s, then it will become very difficult for the digital currency industry to excel and this will surely not be a positive move.

The authorities are of the opinion that these ICO issuers are leaving no stone unturned to generate hype about their ICO. They are using the social media as a lethal weapon in this regard. This is what the authorities term as misconduct that cannot be ignored.

What the Australian Commission wants is that true and correct information should be passed on to the investors. This way they can make better investment decisions. At the moment there are many ICO issuers who engage groups that can create hype about an ICO on the social media platforms.

If the Australian Commission can introduce this element of accountability among the ICO issuers, then the digital currency can flourish in the real sense of the word. Plus, more and more people will be keen to invest in the digital currency market because of the transparency.

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UNICEF Australia introduces the concept of donating computing power

Australia is playing its due role to promote the blockchain technology and digital currency. Just recently UNICEF Australia decided to launch a platform. The objective of this platform is to allow the users to donate the in-browser computing power so that they can provide help to the vulnerable children out there. This computing power is used for mining the digital currency.

There is a certain website known as the HopePage that allows the user to designate some percentage of their computing power to mining. This activity is done on behalf of UNICEF. The best thing about this website is that it does not store any user related information. This is why there is nothing on the line for the people who decide to share their computing power.

If the user decides to stay on the website page for a long period of time, then the user will be able to donate more computing power in this process. As a result, more algorithms will be solved and more cryptocurrency can be earned with ease.

However, the users need to follow certain instructions if they wish to donate computing power. For example, one step that the users need to follow is that they have to make it a point to block the ads when they open the site.

The platform Hopepage believes that they are maintaining the element of transparency because it is in the knowledge of the users how much power is being donated to the platform. This action has loads of benefits. First benefit is element of donation. The second element is that people are getting a fair chance to become aware of digital currency and the mining technology.

This step encourages the positive use of computing power. There is no denying the fact that these steps are much needed to build a positive perception related to digital currency use. The good news is that people donating power to the website are significantly increasing with the passage of time and hopefully this effort will continue in the near future.

There is also a possibility that the operational mechanism of Hopepage will be more refined in the near future. The Hopepage is doing an exemplary job and people should also encourage this move on their part by donating their computing power in a whole-hearted way.

This way organizations like UNICEF will be encouraged to take this kind of an action in the near future as well. At the moment we all need to applaud the efforts of UNICEF Australia.

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Lawmakers in South-Korea keen to legalize the initial coin offering

It seems that digital currency has a bright future in South-Korea as well. This is why the South Korean lawmakers are working on a bill so that they can legalize the initial coin offerings. However, it is important that these coin offerings should meet the conditions that are set by the Government.

At the moment the initial coin offerings are banned in South-Korea but it seems that this bill will be able to make a difference for sure. Actually, the lawmakers are trying to play it safe. They intend to legalize the ICO under the supervision of the Government. If this happens, then this will introduce the element of transparency in the initial coin offerings.

Apparently, it looks that this bill will get the much needed acceptance and there is a reason behind it. The bill does not focus on legalizing any ICO. It is focused on legalizing only those ICO’s that are introduced by the public organizations.

Secondly, the bill also emphasizes on promoting the ICO’s that are initiated by research centres that are focused on promoting the blockchain technology. Once this bill is initiated, then the financial authorities will allow the ICO’s provided certain conditions are met.

This is why all those who initiate the ICO’s should make sure that they follow the Government’s terms and conditions. The exchanges are also taking interest in initiating the ICO. A cryptocurrency exchange by the name of Bithumb just took an initiative in this regard. It has decided to launch an ICO in Singapore.

This positive environment for digital currency investments and ICO will surely affect South-Korea in a positive way and more people will be interested to walk in this direction. Any public organization that plans to hold an ICO in South-Korea should make sure that it is fully aware of the regulations.

This does make a difference at the end of the day. If this law to legalize ICO gains acceptance, then it will surely be a major milestone in the history of South-Korea. However, organizations and research centre should make sure that they follow the instructions of the Government to the core.

The ICO’s can only be successful in South-Korea if the Government support is there. Once the Government develops confidence in the ICO’s, then the blockchain technology is bound to prosper in South-Korea. Till then we can just hope that the efforts of the lawmakers do not go waste and Government considers the introduced bill.

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First week of May quite happening for the digital currency market

There has been a lot of action in the digital currency market recently. The digital currency has witnessed some major fluctuation in the last 72 hours. If we look at some past records, then some of the digital currencies witnessed a major drop in their values. They experienced a drop of about 6% to 8%.

The good news is many of these digital currencies have been able to recover their loss. The digital currency enthusiasts are of the opinion that May is going to be a great month for digital currency investments. At the moment the Bitcoin Cash markets have been able to spike up so it is the right time to invest in Bitcoin Cash.

Apparently, it seems that the market will continue to improve. However, this does not mean that the traders should trade without a plan. It is important to keep monitoring the digital currency market and make the best move.

The investors should not forget the fact that the digital currency is volatile in nature so there is no room for mistakes. Both the upward and the downward trend have been witnessed in the beginning of May so the traders need to plan their trades accordingly.

If we individually assess the performance of BCH/USD, then it has been able to witness an increase of about 10%. The BCH market has been able to reach above $24Bn so it seems that there is no turning back for BCH at this point of time.

There are many exchanges that are actively dealing with BCH trading at this point of time because it is doing significantly better than other digital currencies. The names of these exchanges are Bitfinex, Okex and Binance.

However, this is surely not the right time for any aggressive moves. If the traders trade without monitoring the trends, then this can turn out to be a fatal error. Investors who wish to invest in Ethereum and Bitcoin Core should also go ahead with their decision because these two digital currencies are also doing quite well at this point of time.

Apparently, it seems that this positive trend will continue in the month of May and the traders will be able to profit from the situation. Another thing that traders should remember is that many exchanges may rise at this point of time to cash on the situation. This is why the traders should opt in for the reliable exchanges only for trading digital currency.

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Japan all set to Lay the Foundation of a Solid Crypto Industry

The Japanese Crypto market has recently become quite a happening place. About 8 companies have decided to opt out and have withdrawn their applications to operate the crypto exchanges.

Well, the other side of the picture is that about 100 companies have shown interest to step into the crypto market. The majority is surely authority, and it seems that companies that want to invest in digital currency surely outnumber the ones that do not seem to be interested in digital currency investments.

This means that the crypto investment environment in Japan is bound to become quite positive. At the same time, it is also important to review why some of the exchanges have decided not to go ahead in the crypto field. They must be having their set of reasons.

It is important that the Japanese Financial Regulatory authority needs to look into these issues so that they can adopt the adequate measures to make the financial scenario in Japan more favorable for crypto investments.

Japan will also need to adopt strong measures to establish a solid regulation system that can pinpoint the possible flaws in the functioning of the crypto exchanges. This will promote the element of transparency.

What everyone needs to understand is that digital currency investments are a new field comparatively. This is why it is important to adopt all possible measures to make the investors more comfortable.

It is also vital that the Japanese Investors should have adequate knowledge about the crypto market so that they can invest accordingly. It is obvious that companies that have decided to invest in the crypto market must have seen some potential in the industry. This is why they feel that the effort is worth and does deserve a chance.

If these 100 companies are successful in the crypto field, then this will be a huge milestone. Plus, this will help to establish the credibility of the crypto market. The Japanese government should also ensure that they encourage these positive moves so that the crypto industry can excel.

Moreover, when they are more competition among the crypto exchanges, then there will be this level of accountability as well. At the moment things seem to be in the initial stages. However, if things go right, then the investors will be more than happy to try their luck in the crypto world because it is undoubtedly the currency of the future and does hold a lot of scopes.

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Bermuda soon to become a digital currency hub

Cryptocurrency is surely going to progress in the coming years, and there is a special reason behind it. The Governments have started to analyze the benefits of digital currency and believe that a digital currency hub can turn out to be quite a profitable venture.

Recently, Bermuda has also accepted the fact that cryptocurrency investments can turn out to be a profitable venture and is working on the crypto regulations. Bermuda has also decided to work on a collaborated venture with Binance a cryptocurrency exchange.

Well, Binance will establish a Global Compliance Centre in collaboration with the Government. Binance has planned to make massive investments in this regard. The exchange has decided to invest about $10 million in the field of education for the local residents.

Binance has also decided to play its role in the field of cryptocurrency and has decided to invest about $5 million for the blockchain companies. This surely spells out good news for all the digital currency investors out there who want to make it big in the field of digital currency investments.

There is no denying the fact that Bermuda is the perfect choice for a global compliance department. Plus, Bermuda has decided to provide an ideal environment to all the digital currency firms out there.

It is important that Bermuda should continue its progress in this direction for the welfare of the crypto sector. In fact, it should also try to spread awareness about digital currency so that people are confident to invest in this direction.

The collaboration with Binance is eventually going to pay off. Plus, there are chances that this collaboration may lead to many other. At the same time, Bermuda should ensure the transparency of digital currency operational mechanisms so that people feel free to invest in this field and they do not have any apprehensions in this regard.

Bermuda should have a well-organized monitoring authority that should monitor these operational mechanisms so that any fraudulent exchanges cannot operate in this situation. This will be the smart move, and this will help to take the success of digital currency a step further.

Apparently, it seems that Bermuda has a bright future ahead when it comes to digital currency investments and this will soon pave the way for all the digital currency investors out there. Plus, this investment opportunity will also pave the way for many digital currency exchanges out there to grow in this region.

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Success ahead for Venezuela’s Petro

Venezuela is making a lot of progress in the field of digital currency. Recently, the Government announced that it would be authorizing the certification of about 16 digital currency exchanges.

Now, this step will play a lethal role to promote Petrol in the international market and people will be able to manage the Petro transactions with immense ease. This step also shows that the Government has confidence in the digital currency and wants to offer solid volume for the transactions.

The exchanges that have been granted the certification are Coinsecure, Criptocapital, Criptoexchange, etc. Coinsecure is one of the Indian exchanges that has been granted the certification. Apparently, it seems that Venezuelan Government was keen to add Petro as a digital currency on Coinsecure.

This way it will become easier to trade Petro against the Bitcoin. Plus, Venezuela has decided to grant some additional incentives to India if they use the Petro. Venezuela has offered a discount of about 30% on the crude oil provided India agrees to make use of the Petro.

Venezuelan Government strongly believes that Petro is more of an economic miracle and this is why they want to use this digital currency to their benefit. At the moment the Venezuelan Government is working with a solid strategy in hand.

The way they are promoting Petro is surely going to make it a success globally. Plus, the exchanges that are granted the certification by Venezuelan Government will be more than eager to make use of this digital currency.

Now, what the Government of Venezuela needs to do is that they should continue their efforts if they want to acquire ongoing success for Petro. As soon as Petro achieves global acceptance, it will benefit the Venezuelan Government more. If this milestone is achieved, then this will pave the way for digital currency investments in Venezuela.

At the same time, the Venezuelan Government is going to face some challenges as well. The biggest challenge is that the Government needs to maintain the element of transparency in digital currency investments. If the element of transparency is not there, then unregulated exchanges can acquire benefit from this situation.

Ideally, the Government should follow the proactive approach and plan out the measures in advance to avoid any unforeseen trouble in the progress of Petro. This way success is bound to come easily for Petro and people will start to confide in this digital currency is simply no time.

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KYT all set to scrutinize digital currency users

Chainalysis recently released a product called Know Your Transaction. KYT allows the businesses to track down those customers with ease who are involved in any illegal digital currency related activity.

KYT is on a mission to blacklist all those bitcoin holders who have a shady history related to their digital currency investment. Now, this does not spell good news for those who own the digital currency. The reason is that most of the people will not prefer the fact that their transactions get tracked.

However, what cryptocurrency owners need to understand is that software like KYT had to emerge on the forefront sooner or later. The important thing is KYT seems to question the biggest perk of digital currency and that is anonymity.

This is why most of the users out there will not support KYT. The vital thing is that makers of KYT need to redefine the objective of this software. Ideally, it should only be used to track those transactions that do not look clean.

At the moment digital currency is still in a state of evolution and it will not be able to survive this extreme monitoring. This is why the better approach will be to define a roadmap for using KYT so that the users do not feel uncomfortable using this software.

If we look at the entire scenario with a neutral perspective, then Chainalysis is not all wrong in coming up with this software. Most businesses prefer to have an impressive customer portfolio and do not want to put their reputation on the line.

Such businesses are justified to investigate their customers. One bad client can put a bad mark on the reputation of a business. The crucial thing to understand is that people should not exploit the use of KYT.

If this software is used appropriately, then it will encourage digital currency owners and investors who indulge in legitimate digital currency related activities. Apparently, it seems that KYT is here to stay and make an impact. However, people who do not indulge in legitimate digital currency related activities may find it hard to survive now.

If KYT venture goes well, then there is a possibility that Chainalysis might come up with more such products in the near future. There is also a possibility that Chainalysis may introduce some advancement in KYT as well. Till then everyone needs to wait and watch for Chainalysis’s next move.

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Venezuelan Government Takes Action against Two Cryptocurrency Exchanges

Venezuela has been in the news for a special reason. The Government of Venezuela took some strong measures against two cryptocurrency exchanges and decided to shut them down. These exchanges initially facilitated the users to convert into different digital currencies and they also allowed the users to send the remittances abroad.

The Government has primarily taken action against those exchanges that have spread fall news related to exchange rates. The names of these exchanges are Rapidcambio and Airtm. However, the actions taken by the Government will only affect the operation of these exchanges in Venezuela because they have a number of different operation mechanisms.

They have social media accounts and they have international bank accounts in different countries. What these exchanges do is that they receive the cash in these international bank accounts and they convert the cash at an unrealistic rate.

Rapidcambio decided to come up with some explanation in this regard and they posted on their site that they put in their best efforts to operate in an honest manner. However, there is no smoke without fire. The Government always takes action after a fair amount of investigation and if they decided to take action against this exchange, then it has to be in the best interest of the public.

The problem is that Rapidcambio has been unable to give a valid justification for the high exchange rates. This is why the public should make sure that they cooperate with the Government. At the moment the wise move is to invest trust in those exchanges only that have received acceptance from the Government.

We all need to understand that digital currency is a new concept comparatively and investing in exchanges that have a shady past can turn out to be a disastrous move at the end of the day.

The best move will be to invest in reputed exchanges in reputed digital currency exchanges in Venezuela. This way the locals will not have to worry about losses coming their way. It is also important to investigate an exchange before registering. These days it is not quite a problem to find information about an exchange online.

If a credible website and reliable information is not available, then it is a red flag alert and people need to be on their guard against such exchanges. The action taken by the Venezuelan Government is an eye opener for many and this move will now snub many other shady exchanges.

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