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Bitcoin wallets or digital wallets are the wallets that require a web browser in order to run, just like websites out there. It’s safe to say that they are pretty much similar to a website.

Surprisingly, the web wallet options are thin compared to the iPhone or Android options.

Right now, there are two Bitcoin wallets worth using. The most reliable online bitcoin wallet is Green Address.

GreenAddress:

To get a Bitcoin wallet that provided protection against cyber-attacks, GreenAddress is the way to go. GreenAddress takes cyber-attacks seriously and provides your coins protection against these attacks.

GreenAddress is a “multi-signature” Bitcoin online wallet. This implies GreenAddress shares control of your Bitcoin with you. While other online wallets are prone to cyber-attacks, GreenAddress gives genuine two-factor validation keeping your coins protected in your wallet.

Spectro Coin:

SpectroCoin is London-based bitcoin wallet, exchange, debit card and merchant solution provider. It serves customers in more than 150+ nations. Right now, it encourages more than 20 types of deposits and withdrawals including bank exchanges, credit/debit cards, and cash deposits to name a few. It also gives bitcoin wallet addresses to iOS, Android and Windows Phone users.

These two are the safest online bitcoin wallets. Although these wallets provide all sorts of security, the ultimate protection comes down to the wallet owner. The best wallet security is the protection of its private key. As long as the key is unshared, chances of your coins getting stolen are very slim.

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Bitfinex: Hong-Kong Based Crypto Exchange Will Not Support Petro

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On 27th March, a public statement was issued by Bitfinex, in which it stated that the platform won’t be supporting the “oil-backed” Petro token, which was launched in February by the Venezuela government.

Bitfinex

Bitfinex is a Hong-Kong based crypto exchange trading as well as currency-storage platform, which was established in 2014 and since then, it’s been the largest platform for Bitcoin.

crypto exchange

Bitfinex Blog Post

On Bitfinex, the statement was posted:

“The government of Venezuela (“GOV”) has recently introduced the Petro token (“PTR”), which purports to be a cryptocurrency backed by oil.”

In this blog post, which was posted on 27th March, the world’s number four crypto-exchange by trade volume (24-hour), clearly explained their decision, stating the fact that recently, the US had banned all of its citizens from buying Petro cryptocurrency, as well as other Venezuelan digital currencies similar to Petro that could be introduced anytime in future. It was written by the exchange that it perceives the coin as it has limited utility.

“We have never had plans to include the PTR or similar tokens in the Bitfinex trading platform. In light of the U.S. sanctions and the other clear sanctions risks of dealing in these products, Bitfinex will not list or transact the PTR or other similar digital tokens.”

According to the Bitfinex team, the limitations are not only applicable to the US clients, but also to the consumers of the platform. They are also linked to all of the activities on the platform, like;

  • Deposits
  • Financing
  • Trading
  • Withdrawals

The platform also further added that regardless of location, all of its employees and contractors are also banned from transacting in the Petro. This news from the crypto-exchange Bitfinex follows the latest exploratory work by “Time magazine” that connects the Petro cryptocurrency to the Russian government.

There is a huge bank of indications to advocate that this digital currency issued by Venezuelan is a Russian experiment in sanction dodging. According to Time Magazine, Russia have been considering to use cryptocurrency to dodge the sanctions globally, however, they decided to assess the idea in a state, when there’s very little to lose.

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Bitcoin Highlights – 2017 Edition

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2017 has been an adrenaline-packed roller-coaster ride for Bitcoin so far. Especially taking in the fact that it hit its highest record, crossing over 2,900 USD towards the end of June.

Here we are going to take a look at this year’s top bitcoin news from around the world.

 

BITCOIN VS. GOLD:

Who could’ve ever thought that something that exists virtually could cross the value of something as valuable as GOLD?

On March 3rd, 2017, the cryptocurrency set a fresh record of $1,268 while Gold rested at $1,233. The precious metal seemed to be having a bad month as it had dropped more than 2 percent within the same week. Meanwhile, Bitcoin seemed to be on the rise, with a 7 percent rise in a weeks’ time.

This cross is something that will always remain symbolic due to Bitcoin’s incomparable fighting power.

JAPAN:

The reasons behind the success of Bitcoin, particularly in 2017 could begin with the legalization of the cryptocurrency in Japan, which is Asia’s richest economy. Following the announcement, retailers and companies began queueing up to accept the popular digital currency. Moreover, the number of retail storefronts has risen to 300,000 in 2017 alone, things are definitely turning around for Japan.

Also, let us not forget that Japan has officially eliminated the tax on Bitcoin which is bound to drive an increase in Bitcoin trading.

RUSSIA:

Russia announced their legalization of the use of cryptocurrencies in 2017. Their government confirmed in late April, that a draft bill would create the legal framework for trading in cryptocurrencies. Surprisingly, this is coming exactly a year after the same Russian institutions had announced that anyone caught using Bitcoin or any other cryptocurrency would be jailed.

Why this change you may ask?

Russia plans on implementing the blockchain technology within its banking sector, to eliminate liquidity crisis and money laundering. Central authorities have closed down many banks but shutting down is not enough to wipe out frauds. Ultimately, authorities have decided to implement new technological applications that allow the government to surveillance people throughout. Thus, the sudden involvement is being shown in the digital world.

EDUCATIONAL INDUSTRY:

The University of Ohio has now officially begun hosting their first classes about Bitcoin and other cryptocurrencies as a part of its MFE curriculum. To follow up, several colleges have even started to accept Bitcoin as a payment method, a step that has definitely pushed Bitcoins to new heights.

In addition, two Montessori schools in Flatiron & Soho have now started to accept Bitcoin as a payment and 10 parents have already opted to enroll their kids using Bitcoin. Marco Ciocca, co-founder, and chairman of the schools added this payment option in June.

The above points prove that Bitcoin is becoming more and more popular as we type this article. People are intrigued to know more about the cryptocurrency and have adapted to the system to develop a better understanding. Obviously, because who wouldn’t want to exchange or shop for anything and everything without having to leave the comfort of their homes.

These are the major bitcoin highlights 2017 but, this is definitely not the end of it. Bitcoin is known for its staying power and we know that despite all of its competitors, it’s one tough cookie!

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China Decides To Protect Yuan With Its Own Centralized Crypto

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The People’s Bank of China (PBoC) sketched out an agenda for 2018. According to this agenda the future of crypto in china has come under discussion again. China had to take this step to protect the national currency of China which is no doubt Yuan. Furthermore, according to a statement dated March 29 on the PBoC website, China will continue to apply strict measures against all kinds of virtual currencies to protect Yuan.

Background of Cryptocurrencies in China

We would have to go a couple of years back  to properly understand the situation cryptocurrencies are facing right now in China. According to the initial coin offering news few years back, Bitcoin had gained great popularity among the Chinese Citizens, prices were also going up steadily.

Concerned with the progress of Bitcoin and other cryptocurrencies,in December 2013 the People’s Bank of China along with some other ministries of China, published an official notice regarding Bitcoin. Originally this notice was meant to reduce or control the financial risk of Bitcoin. Several points were highlighted in that notice pertaining to the risks involved in the sale and purchase of cryptocurrencies.

initial coin offering news

Salient Features of Notice Against Cryptocurrencies

According to the above mentioned notice the People’s Bank of China strictly ordered that:

  • All companies offering Crypto-related services especially Bitcoins, must be registered with the relative government ministries.
  • Organizations dealing specially in Bitcoin-related services should implement necessary measures to prevent money laundering and other illegal activities.
  • Any kind of criminal activity such as fraud, money laundering and gambling etc should be reported instantly to the authorities.
  • Companies behind the deals of Bitcoin and all such services should educate the public about Bitcoin and the technology behind it. This measure will save the majority of laymen from frauds, and fake companies would not be able to mislead the public with misinformation.
  • Bitcoin can only be bought or sold in its original form and not to be exchanged with traditional currency at any cost.
  • Rather than money, cryptocurrency can be best defined as something that serves as a medium of exchange or a store of value.

China’s Latest Approach Against Cryptocurrency

The deputy governor of the People’s Bank of China Fan Yifei outlined objectives in protecting the yuan at the 2018 national video conference.  It was a serious effort dedicated to the major challenges faced by the Chinese monetary system in terms of Yuan.

In his statement Fan supported the development of a government based digital currency in order to protect the yuan against unofficial virtual currencies. However, as was done in the past, no specific policies against crypto currencies were offered this time.

 

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Bitcoin Sky-rockets above $4,400 – Sets new all-time high

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Just about a week ago, the cryptocurrency’s value was around $3,382 however, it gained a little over 30% and stood at $4,111 until Sunday, August 14.

On August 15, global exchanges experienced another $200 gain, rising to $4382 from $4,111 just a day ago. This movement is created from the sudden interest shown by new investors and analysts.

Investment managers and experts are now not only following the digital currency, but licensed financial specialists have put about $200 million in an initial coin offering (ICO) for a blockchain network known as filecoin a week ago, a project that targets at making a distributed protocol for file storage.

Additionally, with information from Coinmarketcap demonstrating the digital currencies are currently esteemed at $141 billion, a rise of about 20 percent from $118 billion a week ago.

 

News credits: coindesk.com

Image credits: dailyreckoning.com

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