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Darknet marketplaces are known to have accepted cryptocurrencies since quite some time now. With the majority of platforms accepting Bitcoin while others experimenting with Ethereum and Monero. However, the darknet markets are in for a bit of trouble as many portals are disappearing overnight in what’s being referred to as “exit scam.”

Here we’ve outlined three most recent incidents of to clear this point.

EVOLUTION:

The Evolution marketplace is one that made several headlines on the media, as it was one of the largest darknet marketplaces worldwide. In March 2015, over 40k bitcoins kept in escrow were stolen and they’ve never been retrieved ever since. The coins were worth around $12 million but no one is certain if they were stolen by the administrator or someone who hacked into the platform. Nonetheless, it is still one of the biggest exit scams since 2015.

OASIS:

Oasis is one of the first darknet markets to support payments made with Monero. Although, this portal went totally dark in 2016 when many users were scammed right before the platform vanished. The result was loss of at least 150 bitcoins while the amount of XMR was never disclosed. While everyone believed that Oasis could’ve been one of the main black markets on the deep web today.  Unfortunately, that was not the case which gives everyone on the darknet a warning when it comes to trusting such marketplaces.

EAST INDIA COMPANY:

With a reputation that was usually fluctuating, East India Company was known to be one infamous darknet market before it disappeared in early 2016. To start off with, it was hacked back in August 2015 and lost around 30 bitcoins. It did take them a while to get back on feet as the users gradually made their way back. It was in January 2016, when the platform became inaccessible for a few days, which lead to users having their wallets drained and no response from the admins. No one knows as to how much funds were stolen from the market but it was one of the biggest exit scams over the last couple of years.

Now, if you’re hesitant towards trusting a darknet market but are still curious to know more of the deep web then we’ve got a safer option for you.

A Solution Against Exit Scams – BERMUDA:

Opposite to all the aforementioned markets, Bermuda is there to stay. Despite of being relatively new in the darknet world, Bermuda has got all the attributes to provide the darknet users with a platform where everything – from kids’ toys to adults’ stuff, and prescriptions medications – is available.  Moreover, Bermuda is firmly against the sale of stuff such as:

  • Assassinations or any other services which may be intended to cause harm to others.
  • Live action stuff/hurt/murder audio/video/images
  • Weapons of mass destruction: chemical, biological, explosives, etc.
  • Child pornography
  • Weapons
  • Poisons

Trading a potion/all of the above-mentioned stuff is what primarily causes the law and enforcement to ban most the darknet markets. On the other hand, Bermuda has it stated in its market policy to never become part of any activity that promotes the prohibited stuff.

Now, one might think: “If Bermuda only deals in regular stuff, why go on the deep web? Why not just your normal browsers/search engines?”

Well, the majority of online buyers prefer to stay anonymous and buy the desired stuff without revealing their identity. But sadly, this is not possible on surface web marketplaces such as Amazon, eBay, etc. So, to achieve that anonymity, they head to dark marketplaces.

However, most the dark markets are involved in illegal trades in addition to selling the routine stuff and most of the time end up getting axed by the government. This ultimately leaves the clients with very limited and often inconsistent options.

Bermuda’s goal is to address this issue and provide dark-web users with a platform that won’t ever go down or get axed by the government so they have a marketplace on their fingertips every time they need to buy some stuff. Some of the key features of Bermuda are:

  • Payments through both Bitcoin and Fiat are available
  • Incredibly fast support
  • Disabled JavaScript and easy html5 design for an easy on-site navigation
  • Free vendor ships;

And much more! Visit the site at  http://bermudagslgcoamz.onion/ and get registered right now for an amazing dark market experience.

You can also put forward your queries to Bermuda through Reddit’s DM feature at /r/Bermudator.

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Is 2018 Year Of The Exit For Cryptocurrency Hedge Funds?

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Before we come to the point, and talk about the cryptocurrency hedge fund let’s know what actually a hedge fund is:

“It refers to an offshore investment fund, that attracts investment in stocks, property, or other such ventures using credit or borrowed assets. A hedge fund is usually based on a private limited partnership.”

cryptocurrency hedge fund

How did it all start?

The use of hedge funds witnessed a dramatic growth since the start of the 21st century. A hedge fund is usually a basic term used for an investment which is totally partnership based. It is a kind of agreement between two people, one might be a fund organizer or a sort of manager with vast experience, and the other one is an investor investors who acts as a limited partners. These two people pool their expertise and money respectively to form a hedge fund.

The basic purpose of a hedge fund is to purpose is to boost up the investor’s returns and get rid of all sorts of risks involved in the financial venture. Usually hedging tactics are utilized to reduce risk. Since many private hedge fund companies are closely tied to the founder personally, there is always a question about these funds that either they have a market capitalization or not?

What is a Cryptocurrency Hedge Fund?

With the passage of time cryptocurrency has become a popular mode of payment over many online platforms around the globe. It could not even escape the attention of hedge fund managers, Although many financial experts were too slow to recognize cryptocurrencies as a trustworthy area of investment, some hedge fund managers did not miss the chance from making moves in the crypto world. As the interest of investors increased, the launch of crypto based hedge funds also climbed up. The number of cryptocurrency or blockchain based hedge funds swa a continuous increase over the course of 2017.

The year of Exit for Hedge Funds

No doubt the cryptocurrency based hedge funds witnessed a continuous rise during the year 2017, but unfortunately the case is not so in 2018. According to many financial experts it may prove to be the year of exit for that kind of hedge funds. As a proof to that at least nine cryptocurrency based hedge funds have been closed down in the first three months of 2018 which is not an ordinary incident. All this was revealed in a report published by Bloomberg.

 

Crowd Crypto Fund and Alpha Protocol are at the top of this list. Crowd Crypto Fund closed down all of its platforms. Alpha Protocol on the other hand simply announced a refund to its investors which was completed on March 31.

 

But the valid point behind all that discussion is that cryptocurrency based hedge funds are not the only funds that met this fate, the traditional hedge funds which were more firmly established during the past few years also witnessed a visible decrease in interest from investors.

 

Do not forget to comment in the specified section below about this down fall of cryptocurrency based hedge funds.

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How to Buy Bitcoins Instantly – The Secrets Unlocked

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For new users, buying Bitcoin could be a little difficult. Especially, when the situation calls them to buy it instantly since the procedure is quite tricky. If you are one of the new users and looking for information on how to buy Bitcoin instantly, this is the perfect place to be.

Buying Bitcoin – The First Step:

The first and foremost thing needed is a Bitcoin wallet as it is used to store digital coins. The wallet works the same way as a bank account – it authorizes you to hold your Bitcoins safely and lets you send and receive the cryptocurrency.

Getting wallet is pretty simple. All you need is getting in touch with a Bitcoin wallet supplier and provide them with your email address. Once they have your email, it’s just a matter of few minutes before you eventually receive your wallet.

After getting your wallet, choose one of following three ways for an instant purchase.

Buying BTC Over the Counter/Face to Face:

The most effortless choice, especially if you live in a big city and don’t want to give away your identity.

There are various websites/p2p commercial centers on the web to help you make face to face trade with a native retailer.

In the event you choose to adopt this method, it is best to arrange a meetup in a busy, open place and play it safe at the time of the transaction. Also, keep in mind that you must have access to your wallet to ensure that the coins have been transferred to your Bitcoin address.

Buy BTC from an Exchange:

Bitcoin exchanges allow consumers to buy and sell Bitcoin. However, while dealing with such exchanges, remember that these exchanges and wallets do not work the same way as the banks.

Unlike traditional banks, these exchanges do not provide any protection to your record which could be an issue should you end up losing coins to hackers. So, make sure you have everything perfectly in shape – protecting your coins.

Buying BTC at ATMs:

You can also buy the bitcoin instantly with Bitcoin ATMs. The approach is similar to the one with face to face exchange, the only difference here is that people are interacting with a machine instead of a human being.

These ATMs require users to insert their money or MasterCard to complete the transfer of bitcoins to your wallet. Some latest models even permit you to withdraw money by sending bitcoins. However, the transaction rates of these ATMs are slightly higher than that of traditional exchanges – 3%-8% to be precise.

Conclusion:

These are some of the best ways to buy Bitcoin instantly. To conclude it all, first, you need a Bitcoin wallet to store coins. Then go to an exchange, get them through an ATM or go with face to face purchase as all these methods guarantee instant bitcoins.

Good luck with your first purchase.

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Will Bitcoin Casinos Continue to Grow in Popularity?

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Online Casinos and Cryptocurrency

There was a time when the word “cryptocurrency” raised a lot of questions and doubtful expressions. But with the impressive amount of attention bitcoin and other cryptocurrencies have gained through the media, digital currencies are one thing everyone is shuffling around to get their hands on.

With more and more outlets bitcoin games accepting Bitcoin as a payment option worldwide, including online casino operators. We’re aware that casinos have become a huge business in the industry and the competition there is very fierce. Thus, casinos have opted for a different attraction like offering deposits and withdrawals via bitcoin.

Now the question is will Bitcoin casinos really get somewhere or is this just a waste of time?

A setback that we’re aware of is that there aren’t many online casinos for bitcoin gambling. Unibet, a famous online casino might eventually add Bitcoin to its list of banking options however, that will take its own time since it depends on its demand. Due to this, there are lesser possibilities of bitcoin casinos to be on the rise, although there might be a possibility in the long run.

It’s only fair if we look at the positives and really, there are many. The major reason why customers would definitely opt for online bitcoin casinos is that they ensure 100% anonymity for the player and owner. Cryptocurrencies are completely independent which means that all your personal information is kept safe and never at risk. Another plus point is that with cryptocurrencies you never have to worry about chargeback issues which is a common problem for credit cards.

Also, with normal online casinos, you usually have to wait around for 2 to 3 days for the money to be withdrawn to your bank account. But that’s not the case with bitcoin, your withdrawals are almost instant each time.

When compared to a few minor setbacks, the advantages outweigh the disadvantages. The more the people become aware of these cryptocurrencies the more the demand. It is true though, we need to give cryptocurrencies their space to become mainstream so a number of people take notice and decide to acquire it.

 

Story Credits: livebitcoinnews.com

Image Credits: bitcoingamblingsites.net

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Legendary Move by “Legends Club” In Las Vegas – Becomes The First Club To Install Bitcoin ATM

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Bitcoin ATM

Over the last few years, Bitcoin has seen an incredible growth in popularity. Numerous stores, corporations, and businesses have started accepting Bitcoin as a form of payment. But this is not the only interesting part. What’s more intriguing is the fact that Bitcoin is no longer confined to only  business community. The currency is starting to take on the entertainment industry just as well.

According to the latest news from LV, a Las Vegas-based club has installed a Bitcoin ATM and is planning to register members through Blockchain.

Peter Klamka – the owner of Legends Club stated: “It was an easy choice to make. The club is recently opened and judging by the traffic, it only seemed a natural location. It was something that I had always planned and there wouldn’t be a better time to pull this move off.”

Looking at Klamka’s history, it’s pretty obvious that the guy is filled with passion for Bitcoin. He operates a company named Bitcoin Direct, LLC, and had also installed a Bitcoin ATM in Mixed Martial Arts Studio in Las Vegas.

Interesting fact: The ATM is branded with one of the club’s strippers – adding some extra flavor to it. The members are also calling it the “Porn Star ATM”. The Porn Star ATM is the second that Klamka has branded. First one was Mike Tyson’s ATM.

While talking about his plans, Klamka proposed that he is also considering to brand sports and celebrity ATMs.

“I also think branded ATMs of any kind will bring new audiences and new users to digital currency,” he said. “Nick Blomgren (who runs the Legends Club as well as the mixed martial arts studio) and some of these performers are more willing to experiment and test ideas.”

“It is similar to branded slot machines that are everywhere in Vegas and in casinos in general,” Klamka said. “In a longer term, it will encourage business to embrace digital currency there are no chargebacks frauds and transaction fees are extremely low.”

“The goal is to make an item for organizations to help drive the business forward,” Klamka told CCN. “We’ve seen individuals wanting to take pictures beside these ATMs.”

“I also think that branded ATMs of any sort will pull new users towards cryptocurrency,” he said. ”

Why It Seemed Such a Perfect Fit?

The MMA community is closely allied with the club, and given the popularity of Bitcoin amongst the MMA community, it only seems natural to have a Bitcoin ATM at the club.

Famer Stephen Bonnar – club executive and UFC hall of Famer – has close ties with MMA fighters and is always working to assemble the MMA fighters as hosts, friends, and members of the club.

Bitcoin and Strip Clubs:

The Legends Room is possibly the first strip club in the world to accept Bitcoin payments in addition to accepting traditional payments for services that the club provides.

Moreover, the club is also working on the idea of registering membership through blockchain. The approach will allow the owners of Las Vegas nightclubs to rent memberships just like real estate.

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