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How To Buy Bitcoins

Buying Bitcoin is extremely simple. All you need to have is a Bitcoin wallet because, Without it, you can’t buy the coins. The goal of this post is to provide you the complete idea about how to buy bitcoins straightaway.

How To Buy Bitcoins:

There are countless Bitcoin sellers, exchanges and wallet servers. The number is so high, it makes the process of choosing a reliable and reputed service quite overwhelming and daunting for the newbies.

Users are required to provide identity verification in order to buy bitcoins. Once the information is verified, your account is activated and you will be able to buy bitcoins without any legal obligations.

Buying Bitcoins with PayPal:

Although the site has banned its merchants from accepting bitcoin payments, there is still a way to buy Bitcoin through PayPal. It’s called “Local Bitcoins”.

The service facilitates the trading of Bitcoin through PayPal ads. What happens here is that the user posts an ad stating exchange rates and method of payment for trading bitcoins.

The interested users respond to the ad and discuss terms. Once everything is finalized, the transaction takes place between the two parties.

The payment methods for Local Bitcoins include:

  • Bank transfers
  • PayPal
  • Gift cards
  • Cash

Local Bitcoin is considered to be the safest way to exchange Bitcoin with PayPal. In addition to the user safety, it offers escrow service to make sure the transaction takes place in a safe environment.

Buying Bitcoins Through Coinbase:

Coinbase is the largest and most renowned bitcoin broker in the world with presence in over 30 major countries. In order to buy Bitcoin from Coinbase, you will need to provide your identity and bank card as a proof.

Coinbase users are categorized into two levels: level 1 and 2.

  • Level 1 users: Also known as fully verified users can buy up to $1,000 worth of bitcoin per week.
  • Level 2 users can only buy up to $100 worth of bitcoin per week.

The transaction fee of Coinsbase is 3.99%; which is pretty low compared to other exchanges.

Buying Coins Through CoinMama:

CoinMama specializes in helping users to buy large quantities of coins through debit/credit card. The CoinMama users can buy up to $5,000 worth of bitcoins per week and up to $20k per month.

The transaction fee of coin mama is 5%; which is slightly higher than Coinbase. This service is best for users who like to buy a lot of bitcoins with credit card/debit card.

BitPanda:

BitPanda is an Austrian bitcoin broker and is well known across Europe. It accepts payments through both credit and debit card and provides instant bitcoins. The transaction fees are around 3-4%. However, the exact number is only disclosed to their registered users.

The Final Word:

These are some different techniques to buy instant bitcoins. All are pretty safe and involve no danger. However, when dealing through “Local Bitcoins”, make sure to arrange a meet up at a public place and bring a close friend or family member in the event things go south.

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Crypto Exchange EtherDelta Gets Hacked – Loses Coins Worth Millions

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A renowned crypto exchange EtherDelta got its DNS server breached by an attacker on Wednesday, allowing the hacker to redirect millions of users to a malicious website.

The announcement of the hacking was made in a series of tweets where EtherDelta warned users that a hacker had temporarily hacked their DNS server and was redirecting users to a malicious version of the site.

Being a decentralized exchange, EtherData comes under the control of Smart Contracts, meaning that it doesn’t provide the third-party control of user funds. However, the exchange does allow users to import private keys to the exchange itself.

As a result of this attack, the hacker was able to steal private keys from users who unwittingly imported their private keys into the imposter website.

The data obtained has revealed that the hacker stole around 308 ether – worth around $250,000 at the time of writing.

EtherDelta said that clients who got to the exchange using either MetaMask or a hardware wallet are “totally sheltered” from the phishing attack. The organization included that funds from clients who never imported their key on the malicious site “should be safe,” but brokers might need to consider moving their assets to another wallet address as a safety effort — and reconsider their choice to import their private keys directly into a site.

The Risks Associated With Crypto Exchanges:

The attack came days after South Korean exchange Youbit revealed that it lost 17 percent of its assets as the aftereffect of a hack — the second the organization had faced this year — compelling its administrator, Yaipan, to declare bankruptcy.

Like Youbit, EtherDelta was a small exchange. CoinMarketCap reports that it processed just around $7 million of volume during the previous 24 hours, a figure that is, to some degree, lower-than-normal because of the breach. However, the exchange was well known among ERC20 token merchants, as it was one of the first exchanges to support tokens derived from lower profile ICOs (Initial Coin Offerings).

Neither of these hacks will prompt a huge disturbance in the worldwide digital currency markets, but each exhibits the risks related to using crypto exchanges.

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‘Clearly Canadian’ Is Now Accepting Bitcoin!

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Clearly Canadian accepts bitcoin

Brand History:

Richmond Hill, Clearly Canadian is a well-known brand in North America. Basically, it is a multi-SKU premium beverage brand, produced by The Clearly Food & Beverage company of Canada. The brand history started in 1987 in British Columbia, Canada. Therefore, it is well known in North America, Scandinavia, and also in different places in Europe and Japan. Clearly Canadian is the 30-year-old company whose production is very famous across the globe. Now, they are going to accept the payments in Bitcoin Canada.

Bitcoin’s Time:

Clearly Canadian knows the evolution of digital technology. At the same time, keeping in view the market trend. The company is going to starts pre-sales to the Bitcoin world. As the Clearly Canadian’s Bitcoin campaign manager Mitch Callahan says, “Just as Clearly Canadian pioneered the new age beverage industry in the ‘80s and ‘90s…bitcoin, in a much more profound way, is poised to change how we all transact business on a global scale and in our daily lives. Clearly Canadian finds that truly exciting and we are proud to be a new emerging member of the bitcoin community.” In addition, manager says, “Online virtual currencies are clearly here to stay – no pun intended”.

Related: Buy Bitcoin  Canada online in few easy steps

The worldwide consuming brand needs high production. Whereas, the company producing exceed in 5 million cases annually. Clearly, Canadian managers said, “We’d like to pre-sell at least 25,000 cases of Clearly Canadian online to the global bitcoin community. personally, I hope we double, triple or even quadruple that goal.  Let’s see what happens. Pricing will be in dollars. Whereas, a transaction in bitcoins through BitPay.The leading Bitcoin merchant processing platform. We have a wish to be a long-term merchant in Bitcoin transaction consumer goods. Hopefully, the new currency’s volatility will remain low facilitating greater adoption”.

In response to Canadian manager’s statement. CEO of BitPay Toni Gallipi stated: “Having a globally recognized consumer brand such as Clearly Canadian Bitcoin join the Bitcoin community is a powerful statement about the increasing popularity and growing base of Bitcoin merchants and users. Many are watching the Bitcoin market closely.we hope that this is the first of many established brands. That see the benefits of adding bitcoins to their payment options. We are happy to have Clearly Canadian on board. Accordingly, wish them very best of success in its campaign”.

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Why were Three Anonymity-Focused Coins dropped by Coincheck?

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Coincheck is a bitcoin exchange service rather referred to as a digital wallet. Headquarter of Coincheck is situated in Tokyo, Japan. It was founded by Koichiro Wada and Yusuke Otsuka. It operates bitcoin transaction and storage in some countries worldwide.

The hacking incident

In January 2018, Coincheck was hacked of approximately 500 million NEM tokens. As a result of which the Financial Services Agency took notice and ordered Coincheck to improve its security practices. Many people were surprised that why did Financial Service Agency not ordered Coincheck to shut down all its activities until this issue was resolved. Later, Coincheck announced that it would compensate and repay all the users affected by this fraud.

Effects of this fraud on NEM

bitcoin transaction

NEM is considered to be the 7th largest cryptocurrency in the world. It had a market cap of nearly 2 billion in October last year. However, NEM development team refused to conduct a hard check as the above-mentioned fraud was caused due to lack of security measures of Coincheck. Instead, NEM has announced to create an automated tagging system which will follow the money and tag any account that receives infected money of any sort.

Aftermaths of the hacking incident

Japanese crypto exchange Coincheck has announced that it will stop dealing in Monero, Dash, and ZCash as a result of the fraud that took place in January, this year. 534-million-dollar worth of NEM was stolen from the exchange as a result of that fraud. According to a note published in The Japan Times, Coincheck is also considering to accept the transfer of the currencies from verified Coincheck accounts only. That is why the exchange resumed activities of certain currencies on March 12. On the other hand, it also has been reported that the exchange has refunded 260,000 affected customers over 440 million dollars from its own funds.

It was also reported by a Japanese cyber security expert that about half of the NEM stolen in the above-mentioned hack was converted into different cryptocurrencies and was allegedly being used for money laundering purposes. The NEM Foundation had reported that the stolen NEM was traced to be moved to different wallet addresses at the end of January.

Some of the NEM stolen from Coincheck was reported to be been found at a crypto exchange in Canada, as well as some portion of that amount was found at the Japanese NEM exchange Zaif.

The Japan Times also stated that Coincheck’s decision to stop handling the three cryptocurrencies Monero, Dash, and ZCash was due to a response to the FSA’s improvement notice.

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Security Token Organization Overstock’s tZERO stops its work Tonight

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A blockchain is a growing list of records, called blocks, which are connected utilizing cryptography. Blockchains which are readable by the public are thoroughly used by cryptocurrency token. Personal blockchains have actually been proposed for company usage. Some marketing of blockchains has actually been called “snake oil.

Cryptocurrencies token

Each block consists of a cryptocurrencies hash of the previous block, a timestamp, and transaction information (normally represented as a Merkle tree root hash). By design, a blockchain is resistant to adjustment of the info. It is “an open, distributed journal that can tape-record handle between 2 individuals successfully and in a tested and long-lasting method”. For use as a dispersed journal, a blockchain is typically handled by a peer-to-peer network jointly adhering to a treatment for inter-node interaction and verifying brand-new blocks. When tape-recorded, the information in any used block cannot be changed retroactively without alteration of all subsequent blocks, which needs an agreement of the network bulk.

Alterations in Blockchain

Though blockchain records are not unalterable, blockchains may be considered protected by design and exhibit a dispersed computing system with high Byzantine fault tolerance. A decentralized agreement has for that reason been declared with a blockchain. We are going to discuss about tZERO which is offers Security Tokens that they stop their work.

tZero Stops its Work

tZERO, a blockchain ancillary of e-commerce retail huge Overstock, announced on Aug. 6 that its Security Token Offering (STO) will pertain to an end Monday night, with no additional extensions.

tZERO said that its STO will close at 11:59 PM EDT, whereas venture capitalist with completely carried out Simple Agreements of Future Equity (SAFEs) need to remit funds to tZERO Wednesday. The start-up will supposedly reveal the outcomes of the STO on Thursday, throughout Overstock’s revenues call. While tZERO originally restricted the maximum number of tokens to $250 million, it is presently uncertain just how much it raised during the round.

Initial Stage of STO Business

The business initially presented the STO in the form of a Preliminary Coin Offering (ICO) in December last year, has actually drawn in strong crypto and conventional institutional interest that apparently led to $100 million devoted to the platform throughout the very first 12 hours.

tZERO’s Analysis

tZERO’s ICO fell under analysis from the United States Securities and Exchange Commission (SEC), causing Overstock’s share rate to drop. Prior to that, Overstock had actually declared its ICO to be categorized under Regulations D and S instead of as a traditional securities filing. This implied that U.S. people need to be certified financiers to have actually invested in the ICO and that offshore transactions might not include U.S. citizens.

tZERO signed a letter of intent with Beijing-based investment firm GSR Capital for the purchase of $160 million in tZERO Security Tokens at a cost of $10.00 per token. Per the declaration, tZERO also “entered into executed SAFEs in excess of $168 million for Security Tokens, of which over $95 million had been currently funded.”

Conclusion

While Overstock announced its intentions to construct another ICO token trading platform late in 2015, tZERO at first presented the prototype of its security token trading form in April. Developers meant to present a method of trading security

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Is the Value of Bitcoin Interrelated to its Google searches?

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The price of Bitcoin has a 91% correlation to its volume of Google searches, according to a search engine marketing agency known as SEMrush.

 

Image credits: steemit

 

Basically, this means that the number of Google searches related to “Bitcoin value” fluctuate with the price of google Bitcoin. In simple words, when the price goes high, more people are attracted to it and as it begins to drop, people become less interested.

How was this study conducted?

SEMrush discovered from a database of 120 million US keyword searches that were linked to bitcoin. Some of them are listed below:

“Bitcoin”

Bitcoin price”

“Bitcoin news”

“Bitcoin value”

The total number of Bitcoin and Bitcoin search volume was said to be approximately around 51,400,000 last year.

 

Is the case study simply approving the obvious?

Perhaps. As mentioned earlier, the interest of people is dependent on the price. The higher the price, the more the number of searches online.

Regardless, it’s quite interesting to note this connection and to discover that the numbers actually support what we might be assuming.

image credits: steemit

Statistics:

Since April 2017, the number of bitcoin searches has climbed up by 450%.  During this time, the value of bitcoin had gone up from around $1,076 to a new hit of $5,000 just a couple of weeks ago.

 

Will it Predict the Price of Bitcoin? – That is the Question

Unfortunately, no. That is not the case and it’s silly to think that a search engine would be easily able to predict the price of the world’s most popular cryptocurrency.

 

Story Credits: steemit

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