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On Friday, Yahoo Japan confirmed that it has acquired a minority stake in a cryptocurrency exchange of Japan. According to Reuters, a subsidiary of Yahoo Japan, Z Corporation, has purchased a 40% stake in the Japanese crypto Exchange, “BitArg Exchange Tokyo,” which has the worth of almost $18.6 -$27 million. The exchange will be set to launch in the month of September, 2018.

yahoo crypto news

Rumours of Acquisition

The rumours of the acquisition first came out in March; however, at that time they showed that the investment will be made by Yahoo Japan through YJFX, which is its forex transaction platform, and not through Z Corporation.

In a statement, Yahoo Japan said:

“By utilizing the service operation and security expertise of the Yahoo group, we support the operation of exchanges operated by BitArgo Exchange Tokyo.” Yahoo Japan also added that the exchange intends to offer services for customers that are secure and easy to use.

Monex Group

Japan is considered as an industry hub as it has above three million domestic crypto-traders. The news of Yahoo Japan’s investment showed up just after days when the financial regulator of the country ordered crypto exchanges; FSHO and Eternal Link, to stop operations due to inadequate KYC procedures. Similarly, another prominent acquisition happened this month – Monex Group announced that it struck a deal to acquire Coincheck exchange, as it went through a major hack at the beginning of this year.

After the Yahoo crypto news, Monex, which is known as a major Japanese online brokerage has confirmed its acquisition of Coincheck and was undeterred even with Coincheck getting lots of criticism for negligent-security procedures the whole year that led it to the mugging of $530 million of NEM tokens from its wallet.

Even with interruptions, SB, which is a Japanese banking giant is set to launch its own cryptocurrency exchange after firming up the security measures when the FSA is considering to ramp up its scrutiny of exchanges after the theft of Coincheck. Also, Messaging giant Line, that has a market cap of more than $9 billion and has almost 600 million registered users as well as 200 million monthly active users, has also filed an application with FSA in order to launch its own cryptocurrency exchange in Japan.

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Bitcoin Developing Countries – Top 8 Countries Growing In Bitcoin

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Countries around the world noticed the surge in the price of Bitcoin in 2016. Few countries’ made reforms in the financial market sector and grew faster than others. A large number of Bitcoin exchanges provides the growing data of these countries. In this article, we will read about the top bitcoin developing countries.

Japan: 

After China, Japan is the second highest Bitcoin trading market. Additionally, due to Bitflyer’s zero-fee campaigns yen beat the US dollar in May. According to the well-known platform Bravenewcoin’s data, the exchange has 50% share of Bitcoin market in Japan. This trading volume increases from 1845 to 97,815 Bitcoin on daily basis, a 53-fold gain.

Venezuela:

Venezuela has the money supply problems but Bitcoin demand is still increasing in the country. SurBitcoin is a top and the well-reputed company of the Venezuela but denies to publish its volume data.

Though, country’s trading volume can be examined through LocalBitcoins. Only 22 bitcoins were traded in the first week of the year. However, during the following couple of months, the volume went up to 373 bitcoins before settling down at 223 Bitcoin at the time of writing. The overall trading volume grew by 913% this year.

Indonesia:

Indonesian Bitcoin trading is a fifth top rated market in the volume. It observed a huge spike in trade during June. Quoine  – a Singapore based exchange with 90% of current trade in rupiah was trading at 3,344 Bitcoins at the time of writing, with a volume of 51,500 in June.

South Korea:

Koreans have the option to buy Bitcoin from convenience stores. The networks of these convenience stores use an exchange called Korbit. The exchange hosts over 70% of the Korean won Bitcoin trading volume. Korbit’s volume was 583 bitcoins/day at the start of this year. However, at the time of writing, it has reached 3,168 bitcoins – showcasing a growth of 443%.

Colombia:

Colombia also shows the signs of life on LocalBitcoins by trading 26 bitcoins for a week up to 122 most recently.

Malaysia:

Malaysia’s Bitcoin trading market jumped from 150 to 542 bitcoins on LocalBitcoin last week. A humungous growth of 261 percent. The Bitcoin experts indicate that this major shift is possibly due to the introduction of a new exchange ‘Xbit Asia’ to the market this year.

Russia:

Rubles is the seventh most traded currency for the bitcoins. A well-reputed exchange shows the 121% growth by raising its volume to 5,983. The digital currency is facing different circumstance regarding legalization in the country this year. However, the new Bitcoin startups hold the 50% volume of trade on LocalBitcoin.

Australia:

At the start of this year, the departure of ‘igot exchange’ – a major Bitcoin exchange in the country – the market dropped from 3,850 bitcoins/day to 500 Bitcoin/day. However, the arrival of a new exchange called ACX has restored the market. Currently, the daily trading volume of Bitcoin is over 12,000BTC/day.

These are the major countries using bitcoin making more opportunities for crypto adoption. So, next time someone asks which country uses bitcoin, just link them to this particular article.

Tags: which country uses bitcoin, which country use bitcoin currency, bitcoin developing countries

Chart and image credits: cryptocurrency.com

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How to Make Money with Bitcoin Faucets (in less than 30 minutes)

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Bitcoin Value Drops Back Down to Below $4000

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While Bitcoin had experienced a decent climb since the fork took place. It experienced a $150 drop on August 22, where it is now being traded at $3894.

Everyone has observed this rally quite extensively and some traders have started to believe that this rally might even be reaching its peak.

Organizer of the trading group Whale Club, BTC VIX, commented that he is slowly losing confidence in the rally. Since the price has dipped four times since crossing that $4000 mark, he thinks it’s a sign that the market doesn’t want to push the price higher.

On the other hand, market spectators predict that bitcoin might stabilize around the $4000 mark.  We are unaware of whether it’d rise back up or drop down lower. We do know that the next big date that’s marker on our calendars is Segwit2x in November.

 

News credits: coindesk.com

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How To Buy Bitcoins – A Bitcoin Buying Guide For Beginners

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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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Binance Hack – What Is Confusing Its Users?

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Binance is the largest crypto-exchange by trading volume, however, on 7th March, its users got affected by a hack of third-party software, and as a result, unauthorized transactions were made from their user’s accounts.
Since then, Binance’s CEO, Changpeng Zhao has claimed that the exchange is working normally and the funds of users are safe as well. Many users have shown their concern and complained by using social media platforms; Twitter and Reddit, that without their permission, their altcoins had been converted into Bitcoin and most of them didn’t even logged into their accounts.
binance hacked
There were many posts on Reddit, claiming that hackers have used their bitcoins for buying VIA coins for 0.025 BTC each. Without attracting any attention, hackers managed to withdrew the bitcoins in small amounts. It’s claimed by a Reddit user, Profetu, that Binance’s administration took actions to the complaints of their users by freezing their accounts in one hour. Furthermore, the user suggested;

“The hacker accumulated VIA in advance (from Binance or other exchange and sent to Binance) then he set a huge sell order at 0.025BTC. Then using API made some account sell alts and buy VIA with that BTC, [and then withdrew] BTC.”

Another user wrote;

“Same happened to me. I had 100% USDT worth $1548. Today I logged in so I can buy some xrp, but my account balance is $200 out of $1548, and apparently I bought 5 VIA coins and exchanged my USDT to BTC while I was in the gym?”

Few traders have presented a theory that the attack was linked with compromised API keys which had been requested by Binance’s users to further use inside the range of other applications such as; chart in monitoring services and trading bots. This theory also explains how the attackers have managed to pass over the two-factor authentication. But at the same time, it fails to explain why this attack affected the users who never requested API keys.

A user asked;

“Do you use any trading bots like profittrailer or gunbot? Do you have any API opened for any kind of services?” – Bonnie_channel

Another Reddit user wrote;

“That is what I am wondering! I never gave permission for this API key to be created. That is why I think it’s an issue on [Binance’s] end”.

Later, a tweet was posted by Binance, saying that deposits and withdrawals are now in a working condition and all illegitimate trades have been rebounded. Changpeng Zhao also said that a phishing website has been used by hackers to get the login information and to divert users from the authentic Binance website.

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