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CoinfloorEX is basically a London-based exchange, which was founded back in 2013.  On Wednesday, it announced that from next month, it will be launching bitcoin futures contracts by merging with numerous other companies to propose such product to their consumers. This British cryptocurrency exchange’s main focus is to enter the bitcoin futures market.

Unlike its competitors, Coinfloor will be offering substantially firm futures contracts, and according to a wire service report, when the contract will come to an end, the actual asset that is being traded will be delivered and, in this case, it’s bitcoin. Cboe and CME are offering these bitcoin futures contracts and these contracts are cash settled, however, they don’t deliver bitcoin to the owner of the contract.

bitcoin futures market

According to the co-founder of Coinfloor, Mark Lamb, the product was originated because of an extensive demand from some of the exchange’s customers.

Mark Lamb told Reuters (news agency company);

“When you talk to the liquidity providers, they all say the same thing, which is they want a physically delivered futures contract so they can hedge their exposure across exchanges.”

Coinfloor is probably the fifth one in the companies that offer bitcoin futures contracts by joining with following trading platforms;

  • Bitmex
  • CBOE
  • CryptoFacilities
  • CME Group

crpto exchange

Cash-settled contracts are being offered by the U.S.-based Cboe and CME, so does the CryptoFacilities, which is based in the UK. The main perception of bitcoin futures is still contentious, as the U.S. CFTC (Commodity Futures Trading Commission) is also announcing that after getting a pushback on the current products, for the futures contracts, it needs to work on a heightened-review-process.

Likewise, more information about the CFTC’s oversight of such products has been also requested by few representatives, as they also noted that the taxpayers have to be protected from manipulation, vicious activities and scams, for the better future of the market.

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Top Bitcoin Exchnages – Buying Bitcoin Through Different Exchanges

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uying Bitcoin Through Different Exchanges

Bitcoin is a peer to peer, decentralized digital currency. The currency is free from any third-party influence like governments, the central bank, or a governing authority. The currency promises to revolutionize the traditional way of spending money in near future.

Bitcoins are not real coins. It’s a currency that is based on a string of codes and locked with encryption keys. The transactions made through bitcoins leave no traces behind, giving those involved complete anonymity.

There are several different ways to buy bitcoins but the most common way is buying through cash exchanges.

Buying Bitcoins Through Bitcoin Cash Exchanges:

Buying bitcoins through cash can be confusing at times. Especially for those doing it for the first time. But don’t worry, we have compiled a list of Bitcoin cash exchanges that make the whole process simple and straightforward. The list includes:

LocalBitcoins:

LocalBitcoins is a reliable Bitcoin escrow service from where you can cash deposit or cash trade in person. A quick step by step guide on LocalBitcoins includes:

  • Find a local seller who is willing to trade in cash
  • Choose how many coins you want to buy
  • Receive seller’s account number
  • Deposit cash into seller’s account
  • Upload money-deposit-receipt as a proof
  • You are ready to receive bitcoins in your LocalBitcoin wallet

BitQuick:

BitQuick connects you with sellers where you can pay with Bitcoin and buy products online. For now, BitQuick is only available in the US and works the following way.

  • First, you will need to find a seller
  • After finding a seller, discuss the price for bitcoins
  • Receive seller’s bank account number
  • Deposit cash into seller’s account
  • Upload receipt as a proof
  • Receive bitcoins

Wall of Coins:

A peer to peer bitcoin exchange. Wall of Coins offers a number of bitcoin payment methods; however, the cash deposit is the most common method that they offer.

Wall of coins is one of the largest cash bitcoin exchange in the US with over 100,000 deposit locations across the country.

Apart from the US, it also operates in some major countries like Germany, Canada, Latvia, Poland, Argentina, etc.

LibertyX:

LibertyX offers its services at a number of retail stores across the US. However, it requires the buyers to provide their identity which makes it less private compared to those mentioned above.

The maximum limit on buying bitcoins online from LibertyX is $1000, with 1% fee on each purchase.

One of the unique features of LIbertyX is that it grants $1000 worth of bitcoins for free to those who sign up through Facebook.

Bitcoin ATMs:

Bitcoins through ATM? Yes, you read it right. You can buy cryptocurrency through Bitcoin ATMs with only cash. Bitcoin ATMs require no verification, making it one of the most private ways of buying coins.

The average transaction fee through bitcoin ATMs is 5-10%, which is completely acceptable to those who want 100% privacy.

Bittrex:

Bittrex is a USA based digital currency exchange that offers fast trade execution, protected wallets and cutting-edge security measures to ensure the safety of your funds. It is said to be supporting more than 190 cryptocurrencies with a market cap of $354,425,501.

Bitfinex:

Bitfinex is a cryptocurrency trading platform based in Hong Kong that offers peer-to-peer trading of all major cryptocurrencies. It’s known for its customizable interface, security and variety of digital currencies.

Bithumb:

Bithumb is a Korean cryptocurrency exchange portal which is known for its reasonable price rates for bitcoin traders, ability to make quick real-time transactions and protection of every users’ assets with SMS verification. It is currently having a market cap of $314,531,860.

Kraken:

Kraken is a San Francisco based cryptocurrency exchange established in 2011. You can exchange multiple digital currencies as well as buy bitcoins. The currencies traded include Bitcoin, Dogecoin, Litecoin, Ripple, Ven, U.S. dollars, the Korean won and the euro. Moreover, Kraken is known for its security measures to prevent any sort of illegal activities to take place.

GDAX:

GDAX is a U.S. based exchange that offers a spontaneous, trusted and secure interface, along with full insurance of the funds held online.  It is also backed up by major investors such as Union Square Ventures, Andreessen Horowitz, and the New York Stock Exchange. Currently, the market cap of GDAX is at $104,995,957.

Final Word:

These are some of the top exchange bitcoin for USD through which you can buy coins. Each exchange has different terms and conditions for its users. Make sure you go through them carefully before acquiring their services.

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Bitcoin is Surging – Goes Above $2,500!

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Bitcoin is Surging

Bitcoin’s value boosts up on Thursday, going up 13.01% at $2,576/BTC. The leading cryptocurrency continues to rise as the traders eagerly await the August 1 decision anticipating whether or not the Bitcoin hard fork will occur.

Thursday’s surge in the value of Bitcoin took the currency up by around 40%. This was the day when Bitcoin’s splitting fear tumbled to 20%.

The head of technical department strategy at Goldman Sachs – Sheba Jafari stated that digital currency needs to make new records after holding support in the area of $1,856-$1,790.

Jafari wrote, “The minimum target for an eventual Vth wave from current levels is 2,988; an extended 5th could reach ~ $3,691.”

Story & image credit: BusinessInsider

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What Should Be Considered in an ICO Whitepaper?

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As the popularity of ICOs (Initial Coin Offerings) is mounting along market’s instability and other cryptocurrencies fraud around the world, a debate has emerged about the appropriate regulatory policies for cryptocurrencies and ICOs. The most frequently asked questions include the proper division of authority amid the SEC (Securities and Exchange Commission) and CFTC (Commodity Futures Trading Commission), whether authority of these commissions should reach the core of the cryptocurrency ecosystem, as others are expecting that a whole new regulatory rule is required for cryptocurrency and token fundraisers. This blog illustrates the congressional testimony on cryptocurrencies, which aims to reflect the existing regulatory approach that is being used by the regulators to observe and manage ICOs and cryptocurrencies, and how more regulatory clarity can be achieved in such markets.

ICO whitepaper

US Securities laws disclosure system is the prime one, where promoters can easily share information related to their company and management, openly. With SEC, this information is filed later. By dissimilarity, most of the ICO disclosures are enabled via “whitepapers” which are unregulated at this time, focusing mainly on the current technology and on such technologies that are under-development.

Investors and buyers of ICO tokens that are looking for a good return or technology users that are looking forward to contribute and support in an advanced product would have to expect certain disclosures for making a purchase in a conversant way. Some of the disclosures that have been identified by the entrepreneurs themselves are specifically relevant to ICOs transition.

Location of Promotors

According to a study, in 32% of ICOs, it is literally impossible to identify the promoter’s origin. From an investor’s point of view, this is a serious information asymmetry. It won’t be possible to identify what legal protections and rules are. without this information. Moreover, there are few ways through which investor can interact with related public authorities especially in case of fraud, like; loss or theft. So, ICO whitepaper should set out a comprehensive report of where the issuer and its key management are placed.

Issues

If we talk about the history of US Securities law, there was no such information important for investors than the financial statements of the issuer. Investors could easily evaluate the past performance of the company by scrutinizing income statements, cash flow and balance sheets, and by doing so, they could make well-versed guesses about the future performance of the company as well as its profitability.  A whole ecosystem of third-party auditors, credit rating agencies, and accountants, were settled due to the criticality of financial statements in securities offerings, to make sure the accuracy of financial statements.

ICOs serves for a different purpose as compared to most of the traditional IPOs (Initial Public Offerings). Rather than funding trading companies, ICOs involve products industrialized by startups identifying technology-based issues and offering the sale of solutions based on technology.

It’s not the past performance of the company or financial statements for most of the offerings, but it’s the venture’s technology plan. Therefore, guaranteeing that investors/retail buyers comprehend the crucial contours of the fundamental technology solution is ultimate as ICOs turn out to be a more and more popular way of fundraising.

Moreover, further technical chunks of the ICO whitepaper would be a perfect subject to a system of third-party authentication, especially for larger fundraises. Also, when describing the solution, hyperbole should be avoided by the promoters which are an endemic problem in whitepapers. Plus, investors should be required to identify an objective base for all the upcoming statements as well.

Blockchain

Investors should be well-versed about how the secondary infrastructure works, and how it is going to affect the governance of the token. Also, the consensus method for a virtual currency’s Blockchain should also be revealed as well, along with a summary of how the governance decisions, plus other decisions affect the network, such as; software upgrades, which will be synchronized amid the several investors such as designers, miners, and users.

Token’s Description

This is obvious that tokens can have a number of different economic and qualitative features, like; currency, utility, or securities. The disclosures would have to elucidate what it means to a typical holder, if the tokens are created in a technological format, complying with firm guidelines, like; ERC20 standard.

Likewise, if some efforts will be made for listing a token, for example, to list a securities token on an ATS (alternative trading system), or if there are trading limitations on the security, then such facts have to be disclosed in a way that is clear to the owner of the token. The description of token should specify the envisioned use of the coins that are issued in the offering, their quantity, plus whether the advisors will keep the reserve coins, and if they do, then how they’d liquidate them. Promoters should be required to reveal their intellectual ownership of the company’s protocol.

Technical Team Qualification

Common disclosure requirement in registered offerings is the information about the business experience of executive officers as the investors are given a sense of the quality of management and are probably the success of the company once it goes public. In ICOs, companies have restricted histories and the problem may be exceptional, if same information about the offering’s technical team could be evaluated. At the same time, coders have diverging backgrounds, as some are more qualified and experienced than others. Also, to provide investors with an intellect as to the proficiency and reliability of the white paper, many founders should provide all info linked to key engineering experience, skills, qualifications and other relevant features. Plus, it should also be mandatory for developers to provide links to their previous work.

Risks

ICOs should involve disclosures regarding the most substantial risk aspects affecting token holders in the offering document. Even though many investors will probably understand that even successful ventures can be later disintermediated by more effectual nonentities. A token holder may get astonished to discover that the product doesn’t function as it’s intended or might develop a purpose all-in-all contingent on the progress of the technology, possibly even less in all likelihood, the requirements of the contributors in the ecosystem. Shareholders should comprehend as well that the greater sectoral risks, including variations in the trade that could demote some designs of blockchain into further parts of the sector, making many tokens worthless. Buyers had to be completely aware of their latent susceptibility to hacking, disruption, and data-loss, also authorized subjects like privacy concerns and information transportability across borders.

No doubt, there are other imperative disclosures as well that should be operationalized in means that are way too much effective.

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Bitcoin Is Poised To Hit $100,000 – Says The Predictor Of Q4 Rally

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A Hong Kong merchant who correctly predicted bitcoin value’s dramatic year-end rise trusts that its rally is a long way from being done.

Dave Chapman, managing director of digital currency exchanging firm Octagon Strategy, told that numerous investigators laughed at him when he anticipated the bitcoin cost would dramatically increase in the final quarter and reach $10,000 before the finish of the year.

Main Story:

“I was cited back in August when bitcoin was trading at around $4,000 that we would have a five-figure headline before the current year’s over,” he said. “I think many individuals thought I was insane, many individuals laughed at me, but that is OK.”

 

However, regardless of condescending looks, the bitcoin cost has met — and surpassed — Chapman’s expectation. At the time of writing this article, bitcoin was trading at $16,615, a 20 percent rally boosted by the dispatch of CBOE’s bitcoin futures contracts.

The bears credit this development to a speculative frenzy, and Chapman admits that he is somewhat worried about the market’s current “warmth”. However, he denies that bitcoin’s value is purely from speculation.

 

“Bitcoin permits the quick exchange of significant worth from one individual on the planet to some other individual on the planet, and it does that without a middleman. That is its value,” he said. “If you take a look at bitcoin and its impact financial industry, it’s clearly not that crazy to believe that bitcoin could be a greatly enormous disruptor to finance.”

 

Chapman said that the launch of bitcoin subsidiaries is an indication that digital currency is “growing up,” and he included that he would not be shocked if the bitcoin cost comes to $100,000 before the finish of 2018. Nevertheless, he warned that winding up too focused on digital currency costs will make individuals lose sight of the revolutionary aspects of the crypto technology.

 

“The cost to me is presumably the most uninteresting part about bitcoin. I’m more excited about the applications and more amped up for what this means for individuals who lack access to financial inclusion,” Chapman finished up. “If we concentrate on the cost, we’re forgetting about the bigger picture.”

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