Day: March 20, 2018

Successful P2P Cryptocurrency token Ethercash, has just completed their token sale campaign, which has led to their native ECH token being listed on the popular exchange QRYPTOS on February 6th, 2018.

During the Ethercash crowdsale the company raised an impressive $40 million USD. This news comes as The Estonian-based lending startup saw a very successful Q4 to 2017, as the company gets ready for their token distribution stage early this year.

With over 46,000 new registrations and recorded contributions of over $40 million USD, the token sale actually finished one week ahead of schedule, coming to a swift close on 12th December, 2017.

A Unique Exchange

As QRYPTOS is a unique and fully digital cryptocurrency exchange and trading platform launched in June, 2017. Launched by QUOINE a global heavyweight fintech company that provides digital trading and the future of financial services powered by blockchain technology.

Each day, more and more token issuers are experiencing cyber-attacks, hacks, and impersonators which have led to multimillion dollars’ worth of theft. This is because current TGE platforms do not have the proper security measures in place for purchasers to deposit and transfer their funds.

QRYPTOS have placed stringent, preventative measures to ensure a safe, secure, and compliant process for all token issuers and purchasers. To do this, they will carry out the necessary due diligence of all token listings on QRYPTOS and will require verification of accounts for all token purchasers.

The company are committed to providing the safest exchange and trading platform for the token generation market.

Holding offices all over the east regions of the world, QUOINE combines a solid ethos of networking for local partners. Having a team with a comprehensive portfolio of experience in sectors, such as banking and financial products to deliver the best services possible for their users.

Having received their official licensing from the Japanese government, this stand them out from the crowd in many respects.

Ethercash Token Distribution

As the Ethercash token distribution is well underway, the focus will be on the expansion of the development team, beginning alpha and beta testing for their platform, preparing for mobile apps for release, not forgetting their release of the multi functional crypto debit card.

The platform possesses a impressive and adaptable framework within the cryptocurrency ecosystem. Aiming to provide millions of users to the financial security they deserve, using a P2P lending system, which will enable cryptocurrency holders the opportunity to borrow up to 80% of their portfolio value.

About Ethercash

Etherecash is a three tier financial platform, enabling peer to peer lending, with a worldwide money transfer protocol and a crypto debit card which will allow users to maximise the potential of their assets and leverage cryptocurrency to secure safe fiat loans at reasonable rates. Making use of the lawyer back Ethereum smart contracts and blockchain technology, this offers full transparency and security for its users. The Ethercash platform is complete ecosystem to bring a fast, reliable and secure service for the way we lend, spend and send

The post Ethercash Token Listed on QRYPTOS, After a Successful Crowdsale appeared first on BitcoinNews.com.

The Bank of Russia and the country’s Finance Ministry have reportedly resolved a disagreement over the specifics of a proposed cryptocurrency law.

Big things are happening behind the scenes of the Binance exchange. Their ongoing investigation regarding market manipulation and theft is progressing nicely. With the hacker bounty still ongoing, the company provided the world with a pretty interesting update.

Binance Hacker Bounty Update

It is evident the recent attempt to steal funds from Binance lingers in people’s minds. Although the attack was ultimately unsuccessful, it does paint a worrisome picture overall. The associated phishing campaign shows how “easy” it can be to manipulate cryptocurrencies in general. Phishing attacks are nothing new in the world of cryptocurrency, though.

In fact, there are quite a few phishing operations active right now. In the case of Binance, their hacker bounty program sheds some interesting light on how this attack was performed. It seems this is not the work of an individual user per se. Instead, there is most likely a group that is responsible for this most recent development. While no one can be identified at this point, that is a remarkable train of thought.

Additionally, the company also identified some phishing domains involved in this recent attack. Most of those domains use search engine advertising campaigns to gain a higher ranking. It is unclear if this includes Google’s own advertising option, but it seems highly likely. It does appear these domains are not just used to target Binance by any means.

Cryptocurrency Phishing Is a Problem

Interestingly enough, the Binance hacker bounty reveals details regarding the people registering these domain names. Two specific names seem to pop up more often than others. Most of the domains registered to these particular individuals are designed with malicious intent in mind. It is unclear if this information is legitimate or just someone using stolen credit card data to register these domains.

Furthermore, the Binance hacker bounty reveals suspicious VIA transactions. Most people know how Viacoin is a prominent altcoin which can be traded on various exchanges. Several transactions containing 4,000 VIA each were discovered. More specifically, 31 such transfers discovered are interesting as they can be related to the hacking attempt.

For the time being, we will see how things play out in this regard. Binance will continue to monitor the situation accordingly. Users are still welcome to contribute any data as apart of this ongoing hacker bounty accordingly. Whether or not they will ever find the real culprits, remains to be seen. It is evident these hackers need to be identified as quickly as possible. That is much easier said than done.

The post Binance Inches Closer to Revealing Hacking Group appeared first on NewsBTC.

There’s a new New York lawmaker on the scene and he wants to end a years-long policy that has held back crypto startups in the state.

Mastercard has announced that it is receptive to using nationally backed central bank issued digital currency in the future while holding on to its stance that all others are “junk”, The Financial Times reported.

Mastercard Will Deal With National Digital Currency

In an interview with the FT Ari Sarkar, Mastercard co-president for the Asia-Pacific region, spoke about the future of Mastercard concerning its relationship with cryptocurrency.

He said that the credit giant is willing to deal with cryptocurrency that is government backed. “If governments look to create national digital currency we’d be very happy to look at those in a more favorable way [compared with existing cryptocurrencies],”

While there is a long list of governments exploring a central bank backed cryptocurrency which includes England, Canada, China, Russia, India, Dubai, and Estonia, only Venezuela has actually launched one, and that to major international criticism.

This is not a change in stance from October 2017 when Mastercard CEO Ajay Banga referred to cryptocurrency as “junk” in a conversation with the Financial Times as he also said that if there were government-backed digital currency Mastercard would be involved. Saying at the time.

“If the government creates digital currency, we will find a way to be in the game. We will provide rails for moving currency from customer to merchant. The government mandated digital currencies are interesting. Non-government mandated currency is junk.”

Sarkar also talked about a pilot program in Japan and Singapore that would allow Bitcoin traders to cash out directly onto their MasterCard. Adding that “The pilot] is a toe in the water, we’re fully cognizant of the reputational risk.”

5% Fee With Interest

Earlier last month Visa and Mastercard created a backlash of criticism when it relabeled cryptocurrency transactions from “purchases” to “cash advances”. This meant that traders using their cards were being charged an additional five percent from the credit company on top of any fees charged by the exchange.

On top of the percentage added on as cash advance traders would also be charged interest from the moment of the purchase. In some reported cases the interest would be over 20%. Still, Mastercard has not been ignoring the developing technologies completely as Sarkar mentioned Mastercard Labs, the credit company’s research arm, has filed for more than 30 patents related to blockchain technology and cryptocurrency.

Recently banks including Lloyds of London, Virgin Money in Australia, and Citigroup in the US, have banned customers from using credit cards for cryptocurrency purchases.

The post Mastercard Will Support Government Backed Cryptocurrencies but Not Junk appeared first on NewsBTC.

Key Highlights

• Ethereum classic price corrected higher nicely and moved above the $17.50 level against the US dollar.
• There was a break above a major bearish trend line with resistance at $16.50 on the hourly chart of the ETC/USD pair (Data feed via Kraken).
• The pair is currently correcting lower from $19.80, but it remains supported above $17.00.

Ethereum classic price is recovering against the US Dollar and Bitcoin. ETC/USD dips remain supported above the $17.00 and $17.50 support levels.

Ethereum Classic Price Support

After a major decline, ETC price found support near the $14.20 level against the US dollar. The price started an upward correction and traded above the $15.00 and $15.50 resistance levels. The correction was positive as the price even broke $16.00 resistance and settled above the 100 hourly simple moving average. During the upside, there was a break above a major bearish trend line with resistance at $16.50 on the hourly chart of the ETC/USD pair.

The pair traded as high as $19.80 and failed to break the $20.00 resistance. At the moment, the pair is correcting lower and testing the 23.6% Fib retracement level of the last wave from the $14.21 low to $19.80 high. On the downside, there are many supports near the $17.00 level. An initial support is at $17.50 and the 38.2% Fib retracement level of the last wave from the $14.21 low to $19.80 high. The most important support is around $17.00 and the 100 hourly SMA.

The mentioned $17.00 support is also the 50% Fib retracement level of the last wave from the $14.21 low to $19.80 high. Therefore, dips toward the $17.50 and $17.00 support levels remain supported. On the upside, the price has to surpass the $19.80 and $20.00 levels to trade further higher.

Hourly MACD – The MACD for ETC/USD is slowly moving lower in the bullish zone.

Hourly RSI – The RSI for ETC/USD is heading south towards the 50 level.

Major Support Level – $17.00

Major Resistance Level – $19.80

 

Charts courtesy – Trading View

The post Ethereum Classic Price Technical Analysis – ETC/USD Settles Above $17.50 appeared first on NewsBTC.