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Washington Just Got 20 New Bitcoin ATMs

In response to significant demand from local users and merchants, Washington DC has installed 20 Bitcoin (BTC) ATMs across the US capital. A Texas-based Bitcoin ATM network, Coinsource, rolled out the machines. In the Maryland and Columbia districts, the machines were added in response to high demand and are being positioned in convenient locations. Other locations such …

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In response to significant demand from local users and merchants, Washington DC has installed 20 Bitcoin (BTC) ATMs across the US capital. A Texas-based Bitcoin ATM network, Coinsource, rolled out the machines.

In the Maryland and Columbia districts, the machines were added in response to high demand and are being positioned in convenient locations. Other locations such as Washington DC, Baltimore, Towson, Oxon Hill and Takoma Park will also be playing host to the Bitcoin ATMs.

From paper money to Bitcoin

Bitcoin ATMs are a global phenomenon, breaking down the entry barrier of identity verification by allowing the public to put in cash or a debit card to purchase BTC immediately. At present, the US has over 1,700 crypto ATM locations with approximately 40 of those existing in its capital.

Sheffield Clark, CEO of Coinsource, explained:

“We are meeting Washington DC at an inflection point, where regulators are looking at the value and potential of decentralized currencies and blockchain technology. All innovation over time has passed through our nation’s capital in one way or another, and we are happy to be now servicing Washington DC and the surrounding communities so that they can have easy access to buying and selling Bitcoin.”

Bitcoin ATMs are being installed at a feverish pace and the US is the current leader in deployment and use of these. Previously, Washington had only five serviced Bitcoin ATMs provided by five different operators.

CMO of Coinsource, Bobby Sharp, said:

“We are expanding the Bitcoin ATM market further than it’s ever been in DC, offering the lowest rates, exclusive remote enrolment and allowing for at-home account registration. This instalment is especially significant to Coinsource, as the philosophy behind decentralized currency is and has always been about giving freedom back to the people. As a company, I feel that we have been able to provide financial freedom to the underbanked and unbanked, and I am happy to bring our services to DC.”

Ease of access

Using a Bitcoin ATM is easily one of the fastest and easiest ways to buy and sell BTC; users often just feed bank notes into the machine or use a regular debit or credit card transaction, after which they receive a physical paper receipt with a QR code on it. Users are then able to scan that code into any wallet and complete the transaction.

 

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Bitcoin Merchant Adoption Might Just Be Accelerating In Asia – CoinDesk


CoinDesk

Bitcoin Merchant Adoption Might Just Be Accelerating In Asia
CoinDesk
Bitcoin isn’t for payments? While that may be the popular narrative of late, don’t tell that to Bellatorra Skin Care, a luxury brand that has found the opposite as it’s expanded internationally into markets such as China and India. Not only is bitcoin

and more »


CoinDesk

Bitcoin Merchant Adoption Might Just Be Accelerating In Asia
CoinDesk
Bitcoin isn't for payments? While that may be the popular narrative of late, don't tell that to Bellatorra Skin Care, a luxury brand that has found the opposite as it's expanded internationally into markets such as China and India. Not only is bitcoin ...

and more »

Barclays Bank Pivots on ‘Infection’ Study, Now Mulling Crypto Trading Desk

Insiders say UK’s Barclays bank may be investigating opening a cryptocurrency trading desk just a week after releasing a report comparing investors in digital assets to an “infected” population that would die out soon. Barclays Investigating Crypto Trading Desk Bloomberg has reported that Barclays bank is doing an initial assessment to gauge clients interest in the bank opening

The post Barclays Bank Pivots on ‘Infection’ Study, Now Mulling Crypto Trading Desk appeared first on NewsBTC.

Insiders say UK’s Barclays bank may be investigating opening a cryptocurrency trading desk just a week after releasing a report comparing investors in digital assets to an “infected” population that would die out soon.

Barclays Investigating Crypto Trading Desk

Bloomberg has reported that Barclays bank is doing an initial assessment to gauge clients interest in the bank opening a cryptocurrency trading desk. Insiders say that the bank is sounding out a potential partnership with Goldman Sachs to create a new Wall Street-centered business.

The bank released a statement saying it had no plans to make such a move. Spokesman Andrew Smith replied in an email saying,

“We constantly monitor developments in the digital currency space and will continue to have a dialog with our clients on their needs and intentions in this market,” 

Given the risk and progressive manner of entering into a crypto trading partnership, this kind of move would require involvement and approval from the highest levels. Getting Chief Executive Officer Jes Staley and investment bank Boss Tim Throsby on board may not be a problem though as both have been dedicated to reviving earnings in their commercial sectors by investing in higher risk tradings.

Many analysts are calling for a major influx of commercial money into the cryptocurrency market this year but with few existing banking options for the commercial trader, this could put Barclays at the right place at the right time.

The number of hedge funds dealing in cryptocurrency have multiplied by eight times since the beginning of 2017, going from only 37 to 226 in less than a year, but have struggled to find banks to deal with. Money managers and brokers in many cases need to deal with banks because of regulations preventing them from using exchanges to hold and move investments.

If Barclays decides to make the move it will become the first major European based investment bank to open a dedicated cryptocurrency trading desk.

Barclays Pivots on Infectious Bitcoin

This announcement comes only a week after NewsBTC reported the story of Barclays analysts commencing a study that compared the prices of cryptocurrency to the break out of a virus.

The team led by Joseph Abate created a pricing model that treated the rise and fall of the digital money market like a disease that had been treated and was now on the decline. The model labeled investors as either susceptible, infected, or immune and assumed that “infections” of investment that spread by word of mouth would kill off the potential population causing market prices to plateau and eventually fall.

 

Image from Shutterstock

The post Barclays Bank Pivots on ‘Infection’ Study, Now Mulling Crypto Trading Desk appeared first on NewsBTC.

Bitcoin Merchant Adoption Might Just Be Accelerating In Asia

Luxury brand Bellatorra Skin Care reports hot demand for crypto payments from both wholesale and retail customers as it expands into China and India.

Luxury brand Bellatorra Skin Care reports hot demand for crypto payments from both wholesale and retail customers as it expands into China and India.

Ripple Price Technical Analysis – XRP/USD Consolidating above $0.6200

Key Highlights Ripple price corrected lower recently from the $0.7000 swing high against the US dollar. There is a contracting triangle forming with current support at $0.6400 on the hourly chart (data source from Kraken). The pair may consolidate above the $0.6200 pivot level in the short term before it makes the next move. Ripple

The post Ripple Price Technical Analysis – XRP/USD Consolidating above $0.6200 appeared first on NewsBTC.

Key Highlights

  • Ripple price corrected lower recently from the $0.7000 swing high against the US dollar.
  • There is a contracting triangle forming with current support at $0.6400 on the hourly chart (data source from Kraken).
  • The pair may consolidate above the $0.6200 pivot level in the short term before it makes the next move.

Ripple price is consolidating gains against the US Dollar and Bitcoin. XRP/USD must stay above the $0.6200 support to continue moving higher.

Ripple Price Range Support

After trading close to the $0.7000 level, Ripple price faced selling interest against the US Dollar. The price started a downside correction and traded below the $0.6800 and $0.6600 support levels. There was also a break below the 50% Fib retracement level of the last leg from the $0.6240 low to $0.6995 high. However, the downside move was protected by the $0.6400 support.

A low was formed at $0.6368 before the price moved back above $0.6500. It is currently trading above the 23.6% Fib retracement level of the last decline from the $0.6971 high to $0.6368 low. In the short term, there could be more range moves above the $0.6200 pivot level before buyers take control. It seems like there is a contracting triangle forming with current support at $0.6400 on the hourly chart. On the upside, a break above the 50% Fib retracement level of the last decline from the $0.6971 high to $0.6368 low may push the price towards $0.6900.

Ripple Price Technical Analysis XRP USD

Looking at the chart, the pair must clear the $0.6900 and $0.7000 resistance levels to extend gains. Above $0.7000, the price will most likely trade towards the $0.7500 level in the near term. On the downside, the $0.6400 level is an initial support. However, the most important support is at $0.6200.

Looking at the technical indicators:

Hourly MACD – The MACD for XRP/USD is slightly in the bullish zone.

Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is currently just below the 50 level.

Major Support Level – $0.6400

Major Resistance Level – $0.6900

The post Ripple Price Technical Analysis – XRP/USD Consolidating above $0.6200 appeared first on NewsBTC.

Barclays UK New Ventures Unit to Explore “Disruptive” Themes

British bank Barclays appears to be the latest to enter the blockchain arena, with Barclays UK announcing a new ventures unit to study “disruptive technology”. The announcement appeared to dance closely around the blockchain topic without directly pointing to cryptocurrency, explaining its mission to innovate in pursuit of “disruptive” themes within the newly created Barclays UK …

The post Barclays UK New Ventures Unit to Explore “Disruptive” Themes appeared first on BitcoinNews.com.

British bank Barclays appears to be the latest to enter the blockchain arena, with Barclays UK announcing a new ventures unit to study “disruptive technology”.

The announcement appeared to dance closely around the blockchain topic without directly pointing to cryptocurrency, explaining its mission to innovate in pursuit of “disruptive” themes within the newly created Barclays UK Ventures unit.

According to the announcement, the unit would “accelerate the growth of new business lines… working independently of traditional units” and “develop new customer propositions around major areas of disruptive technology”.

“We intend to drive this initiative by building a strong team of technologists, developers and entrepreneurs within BUKV, mandated to operate independently of, but in partnership with, our core operations,” explained Ben Davey,  CEO of Barclays UK Ventures.

Notably missing from the announcement were key terms connected to cryptocurrency, although a sheepish reference to startup operations was unsurprising. It could have been a cautious move, given that it was only two years ago when legal charges were brought against the bank after failing to deliver on hefty claims on a separate venture.

Allegations that the Barclays company had rigged the stock market, committed market manipulation and price tampering, were silenced with a USD 70 million settlement paid by Barclays to the state of New York and to the Securities Exchange Commission.

Even with the existing controversy surrounding the technology, banks will be keen to get a foot in the door in the cryptocurrency space, especially when financial leaders like Mastercard recently began a blockchain exploration initiative.

 

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Bitcoin Price Analysis, 16th April 2018: Prices Back Below $8,000

Bitcoin markets are going through a period of increased volatility with volumes going down. While prices peaked close to USD 8,400 today, support for such levels proved non-existent. The day’s signals A big upward spike pushed prices close to USD 8,400 levels. A sideways trend ensued through a period of decreased volatility through the course …

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Bitcoin markets are going through a period of increased volatility with volumes going down. While prices peaked close to USD 8,400 today, support for such levels proved non-existent.

The day’s signals

  1. A big upward spike pushed prices close to USD 8,400 levels.
  2. A sideways trend ensued through a period of decreased volatility through the course of the day.
  3. Markets experienced a crash bringing prices down to USD 8,100 levels, ultimately leading to a breach of the USD 8,000 price point.

GDAX BTC/USD charts showcase how markets are still prone to being handled by large orders. Right now, most traders appear to have no clear direction in terms of a market sentiment. Notably, markets traded above USD 8,300 price levels for several hours, even peaking slightly below USD 8,400 before the day’s crash. While volumes at that time appear to have gone down, it’s worth pointing out that there wasn’t any notable resistance. The selloff only appears to have begun when the price was nearing USD 8,400 levels.

BITCOIN okcoin-btcusd-weekly-futures-Apr-17-2018-1-8-51

OKEX BTC/USD weekly futures markets appear to hold a notable deviation from live markets. It appears as though the recent volatility and lack of support have led futures traders to be more careful with their choices. The deviation between prices of live markets and futures remained throughout the course of the trading session, with no signs of backing down. It’s also worth mentioning that futures aren’t reflecting the large trading volume selloffs that live markets have. In spite of the lack of exaggerated sell orders though, the mood among futures traders is not positive.

In summary, it’s hard to miss how prices remain so easy to handle by large market orders as liquidity in Bitcoin exchanges went down slightly since the trading session preceding the weekend. Traders don’t appear to hold much confidence in how Bitcoin’s price could turn out. That, along with an increase in volatility aren’t helping in the formation of any support.

Upward movements aren’t receiving any positive response under this market sentiment and traders proved uneasy when they were given the chance to support a further price rise today.

 

The post Bitcoin Price Analysis, 16th April 2018: Prices Back Below $8,000 appeared first on BitcoinNews.com.

Cardano Climbs Higher as Binance Expands ADA Listings

Nothing can be a better lift for a cryptocurrency than news that a major exchange will be listing it or expanding trading options. Exchanges do not come much bigger than Binance so the announcement posted on the company website an hour or so ago has given Cardano a long needed lift this morning. Cardano is

The post Cardano Climbs Higher as Binance Expands ADA Listings appeared first on NewsBTC.

Nothing can be a better lift for a cryptocurrency than news that a major exchange will be listing it or expanding trading options. Exchanges do not come much bigger than Binance so the announcement posted on the company website an hour or so ago has given Cardano a long needed lift this morning.

Cardano is already listed on Binance but tradable only in BTC or ETH. Today the Hong Kong based exchange announced that it would be offering ADA/BNB and ADA/USDT trading pairs. BNB is Binance’s own coin and USDT is Tether which is pegged to the US dollar. This gives traders greater flexibility for buying and selling ADA. It is good news for any altcoin which needs to uncouple itself from Bitcoin, which is pretty much all of them.

Cardano Climbs from a Long Lull

Cardano has had a rough year, falling hard from its giddy peak of $1.26 (8650 satoshis) on January 4 to a 2018 low of $0.13 (1740 satoshis) on March 18. This represents a fall of almost 90% (80% against BTC) in less than three months. It was one of the worst performing altcoins in March.

ADA has been waiting for a boost and it has finally arrived with Coinmarketcap reporting the token trading at 24% higher on the day. Cardano has climbed from $0.21 to almost $0.27 in the past day and is trading strong in Asia at the moment. Over the week the altcoin has performed exceptionably well rising over 73% from $0.15 this time last week. Against Bitcoin ADA is up almost 25% on the day to around 3300 satoshis, the weekly gains are even better at 50% from 2200 satoshis this time last week.

South Korean’s are leading the way with trade volume as Upbit is dominating with around 65% of the total trade in KRW. Binance is currently second with 20% of the volume however this is likely to increase now with the new trading pairs. Total ADA volume has jumped over 300% in 24 hours from around $190 million to $813 million where it currently stands.

Cardano has a market cap of $6.8 billion and is ranked just behind EOS at 7th place at the time of writing. If buying pressure continues this altcoin is likely to retake sixth spot today. A second long awaited lift has finally come Cardano’s way after Chinese exchange Huobi announced that it would be listing it yesterday.

The post Cardano Climbs Higher as Binance Expands ADA Listings appeared first on NewsBTC.

Thai Regulators Asked to Ease New Cryptocurrency Taxes

Players in Thailand’s crypto markets have petitioned the Finance Ministry to either delay or waive altogether a combined 22% tax burden aimed at dissuading investors from putting money into ICO’s and cryptocurrency within the Kingdom. Reformers Seek Changes in New Thai Tax Before it Takes Effect On March 29, a royal decree was handed down to

The post Thai Regulators Asked to Ease New Cryptocurrency Taxes appeared first on NewsBTC.

Players in Thailand’s crypto markets have petitioned the Finance Ministry to either delay or waive altogether a combined 22% tax burden aimed at dissuading investors from putting money into ICO’s and cryptocurrency within the Kingdom.

Reformers Seek Changes in New Thai Tax Before it Takes Effect

On March 29, a royal decree was handed down to the Finance Ministry outlining new tax guidelines for the cryptocurrency market as was reported in NewsBTC. These new taxes came in the form of a 7% value-added tax (VAT) on all cryptocurrency trades plus a 15% capital gains tax. This 22% levy on cryptocurrency trading was a deliberate measure taken by military controlled Thai regulatory bodies to protect “naive traders” from losing their money.

Now crypto pundits are asking that the revenue department reconsider the harsh taxes. Proposing a tax policy that will encourage the growth of crypto and blockchain related companies to do business in Thailand, not send them away.

As was reported by the Bangkok Post Thuntee Sukchotrat, chief executive of Jibex, a cryptocurrency exchange owned by JIB Computer Group Co Ltd., is one of the people seeking a change in the tax policy;

“Tax could be an obstacle for startups and the fund-raising process, given that startups planning to raise funds in Thailand could opt to look at other places because of stringent regulations here,” he said

Jibex is on the verge of launching its cryptocurrency wallet service and will begin trading in June. In order to meet the forthcoming ICO regulations, wallet services using Thai Baht as their currency in the country must have a minimum of B200 million ($US6.4 million) registered capital in order to apply for a license through the Bank of Thailand.

New Tax Will Hurt the Future of Thai Fintech

Among those calling for a rethink on the new tax is Jirayut Srupsrisopa, a blockchain expert, and co-founder of the Thai cryptocurrency exchange coins.co.th. Speaking to the Post he voiced his fears that this kind of regulation sends a message out to the world that Thailand isn’t interested in developing its fintech sector. Srupsrisop said,

“The regulations should be flexible or be amended to fit with the changing situation and environment. Rigid laws and regulations will cause ICOs with good prospects to flee abroad, and investors will opt to trade on global cryptocurrency exchanges whereby they can convert the baht to other digital tokens or currencies that have no tax obligation. Only a handful of small-scale ICOs and retail investors will be investing in the domestic market if such stringent regulations are imposed,”

Those already in the cryptocurrency market are hoping that the Finance Ministry will issue a new law that tempers the as yet implemented digital assets tax. Bhume Bhumiratana, a technology consultant of the SEC and the Thai Fintech Association, was quoted as saying “We will have to see what will be retained and omitted from the original draft” when asked about potential changes to the new tax law.

Thailand’s military junta has hiked taxes and made a number of sweeping crackdowns since seizing power four years ago, the pattern does not look like changing but crypto traders remain hopeful for now.

The post Thai Regulators Asked to Ease New Cryptocurrency Taxes appeared first on NewsBTC.

Lightning + NFC? The New Plan to Bring Bitcoin to Retail – Coindesk

Lightning + NFC? The New Plan to Bring Bitcoin to Retail
Coindesk
Imagine a way to expand bitcoin payments to millions per second. Now, imagine a clunky, command-line interface. That’s the extent of the divide between the vision enabled by bitcoin’s best-yet scaling solution, the lightning network, and the current


Lightning + NFC? The New Plan to Bring Bitcoin to Retail
Coindesk
Imagine a way to expand bitcoin payments to millions per second. Now, imagine a clunky, command-line interface. That's the extent of the divide between the vision enabled by bitcoin's best-yet scaling solution, the lightning network, and the current ...

Bitcoin Cash Price Technical Analysis – BCH/USD Targets Fresh Highs

Key Points Bitcoin cash price declined recently, but it found support near $740 against the US Dollar. There is a new connecting bullish trend line forming with support at $750 on the hourly chart of the BCH/USD pair (data feed from Kraken). The pair is placed nicely above $740 and the 100 hourly simple moving

The post Bitcoin Cash Price Technical Analysis – BCH/USD Targets Fresh Highs appeared first on NewsBTC.

Key Points

  • Bitcoin cash price declined recently, but it found support near $740 against the US Dollar.
  • There is a new connecting bullish trend line forming with support at $750 on the hourly chart of the BCH/USD pair (data feed from Kraken).
  • The pair is placed nicely above $740 and the 100 hourly simple moving average, which is a positive sign.

Bitcoin cash price is holding the $740 support nicely against the US Dollar. BCH/USD may continue to move higher and it could even target a fresh high above $800.

Bitcoin Cash Price Trend

After trading further higher, bitcoin cash price found sellers near $800 against the US Dollar. The price started a downside correction and traded below the $780 and $760 support levels. There was also a break below the 50% Fib retracement level of the last leg from the $721 low to $800 high. However, the downside move found support near a crucial level at $740 and the 100 hourly simple moving average.

BCH buyers protected further declines, resulting in an upside move above the $750 level. It has moved above the 23.6% Fib retracement level of the last decline from the $800 high to $742 low. However, the upside move is facing sellers near the $770 level. Moreover, the 50% Fib retracement level of the last decline from the $800 high to $742 low is also near $770. Therefore, a break above the $770 level is needed for further gains. Above $770, the price could retest the last swing high at $800. And, if buyers remain in control, the price may even break the $800 level for a new high.

Bitcoin Cash Price Technical Analysis BCH USD

Looking at the chart above, there is a new connecting bullish trend line forming with support at $750. As long as the price is above $740-750, it remains supported.

Looking at the technical indicators:

Hourly MACD – The MACD for BCH/USD is about to move back in the bullish zone.

Hourly RSI (Relative Strength Index) – The RSI for BCH/USD is near the 50 level.

Major Support Level – $740

Major Resistance Level – $770

The post Bitcoin Cash Price Technical Analysis – BCH/USD Targets Fresh Highs appeared first on NewsBTC.

Bitcoin Price Technical Analysis for 04/17/2018 – Another Pullback Zone to Watch

Bitcoin Price Key Highlights Bitcoin price recently broke out of its descending channel to show that an uptrend reversal is underway. Price hit resistance at $8450 and is gearing up for a pullback, possibly until the broken resistance. This lines up with several inflection points, so plenty of limit orders may be located in this

The post Bitcoin Price Technical Analysis for 04/17/2018 – Another Pullback Zone to Watch appeared first on NewsBTC.

Bitcoin Price Key Highlights

  • Bitcoin price recently broke out of its descending channel to show that an uptrend reversal is underway.
  • Price hit resistance at $8450 and is gearing up for a pullback, possibly until the broken resistance.
  • This lines up with several inflection points, so plenty of limit orders may be located in this area.

Bitcoin price looks ready for a pullback to a key area of interest visible on the 4-hour time frame.

Technical Indicators Signals

The 100 SMA is still below the longer-term 200 SMA on this time frame, though, so the path of least resistance is to the downside. In other words, the selloff is still likely to resume. Then again, the gap between the moving averages is narrowing to reflect slowing bearish pressure.

Bullish pressure could kick in once an upward crossover is completed. The 100 SMA is in line with the broken channel resistance to act as an additional inflection point. The 200 SMA lines up with the 50% Fibonacci retracement level and an area of interest that might be enough to keep losses at bay.

Stochastic is already indicating oversold conditions and looks ready to turn higher, drawing more buyers in. RSI, on the other hand, has plenty of room to fall so the correction could keep going for a bit longer.

Although bitcoin price is retreating from its recent climb, analysts have reason to believe that the gains could continue. For one, the second quarter of the year has historically been positive for cryptocurrencies and once the tax deadline has passed, investors could reopen their long positions.

Besides, Coinbase reportedly bought former bitcoin mining company 21 Inc, which is now known as Earn.com. This company has rebranded itself as a social media platform that incentivizes users to complete tasks in exchange for cryptocurrency rewards.

The deal was reportedly valued at over $100 million and reminds traders of the consistent developments in the space amid regulatory concerns.

The post Bitcoin Price Technical Analysis for 04/17/2018 – Another Pullback Zone to Watch appeared first on NewsBTC.