Day: August 5, 2018

After yesterday’s market tumble, Bitcoin continues to trade around the $7,000 mark, while other major cryptocurrencies are seeing marked gains

Most of today’s cold wallets are storage oriented and PC connected, providing little convenience but the risks still exist. Cryptocurrency owners are seeking the ideal secure wallet on the market. For them, the ideal would be a secure daily trading tool that is mobile-oriented, fully featured and multi-currency supporting. Security, functionality, and usability are becoming the defining features of the next generation cold wallets.

A group of talented blockchain experts from Hong Kong has officially launched a new wallet that ticks all the boxes above. It’s a mobile-oriented, fully featured cold wallet that supports trading, named ELLIPAL. This is the start of the next generation cold wallet, replacing the old storage-oriented and PC connected products. The Cold Wallet 2.0 will become the essential tool for all cryptocurrency traders.

ELLIPAL – The Cold Wallet 2.0, Connecting all Individuals to the
Blockchain Safely and Conveniently

The name ELLIPAL comes from ‘Elli’- Elliptic Curve Algorithm ( the core technology of today’s cryptocurrencies ) and ‘Pal’- partner.

ELLIPAL provides users with a one-stop mobile digital asset management service based on the secure cold wallet technology. ELLIPAL is dedicated to connect every user to the blockchain.

ELLIPAL – The Cold Wallet 2.0 Features

• An isolated piece of hardware to ensure the safety of cryptocurrency.

ELLIPAL is a cold wallet. It’s isolated from any Internet connection such as 4G, WiFi, Bluetooth and USB. The only way to exchange information between the wallet and the ELLIPAL mobile App is through QR codes.

• One-stop Mobile App, especially supports cryptocurrency exchange and trading

ELLIPAL App provides all the functions that users need. In the App, users can look up market quotes and read news, make exchanges and payments, and connect with other DApps. Currently ELLIPAL is in cooperation with decentralized exchange protocols including LRC.

• Unique cross-chain wallet protocol, supports multi-cryptocurrency and multi-chain

ELLIPAL has created an universal OCCW (Open Cross Chain Wallet) protocol which allows our wallets to support multi-chain account systems and be multi-cryptocurrency ready. We believe this protocol will enable more devices to become multi-functional wallets, thus makes Blockchains more accessible to average users. 

• Ready for the future of business world.

Today’s cryptocurrency ecosystem is proliferating fast. Multi-currency is the norm of the future. ELLIPAL’s wallet solution can make exchange easy or even transparent for both paying customers and merchants. We can become the bridge between them and bring value for both.

Connect with ELLIPAL：

Website: www.ellipal.com

Facebook: https://www.facebook.com/pg/Ellipalclub

Twitter: https://twitter.com/EllipalWallet

This is a sponsored press release and does not necessarily reflect the opinions or views held by any employees of NullTX. This is not investment, trading, or gambling advice. Always conduct your own independent research.

Queensland, Australia is giving away millions with its Ignite Ideas fund. This week, it posted details regarding the AUD$8.3 million grant ($6.1 million USD). Something like 70 regional companies shared the bounty, including a cryptocurrency startup, Travelbybit, which managed to snag AUD$100,000 on its way to promoting tourism using crypto. 

Also read: Bitcoiners Hope to Have a Friend in Top US Regulator Jay Clayton

Part of Queensland, Australia’s $6.1Mil Goes to Travelbybit

“Tourism is one of Queensland’s most important industries,” Innovation Minister Kate Jones announced. “Travelbybit has devised a clever way to make it easier for visitors to our state to pay for their purchases with a growing number of local businesses accepting cryptocurrency payments.” The company was chosen as part of a larger government initiative, the Advance Queensland Ignite Ideas funding.

Minister Jones continues, “Ignite Ideas was about supporting entrepreneurs from across Queensland to grow their businesses and employ more staff. I understand TravelbyBit is specifically targeting places like Bundaberg – using cryptocurrency to make it easier for tourists to book holidays. That’s why we’ve invested to help them scale-up their operation and ultimately create more jobs in Queensland.”

First Queensland, and Then The World

Queensland, Australia is the country’s third biggest state by population. This week, it posted details regarding the AUD$8.3 million grant ($6.1 million USD). Something like 70 regional companies shared the bounty.

Travelbybit has a point of sale payments application popular with local businesses, restaurants, tour companies, and resorts. It services bitcoin cash (BCH), bitcoin core (BTC), litecoin, ethereum, and NEM. The company has been awarded AUD$100,000 from Ignite Ideas in the hope it will expand even beyond its current stable of merchants.

Travelbybit CEO Caleb Yeoh noted, “We have more than 150 merchants across Australia using our system and this funding, to develop a purpose-built platform that will accept digital currencies from anywhere in the world, will allow us to add jobs not only directly to our team but also across the broader tourism industry.”

What do you think of Queensland’s decision to target cryptocurrency tourists? Share your thoughts in the comments section below!

Images courtesy of Shutterstock, Wikipedia

Need to calculate your bitcoin holdings? Check our tools section. 

The post Queensland, Australia Invests Portion of its $6.1Mil Ignite Ideas Fund in Crypto Startup appeared first on Bitcoin News.

Intercontinental Exchange, the parent company of the New York Stock Exchange, has announced that it intends to create a global platform for the purchase, sale and spending of digital assets. ICE will undertake this venture through Bakkt, a new company which it will form to oversee the creation of the platform. Bakkt will partner with global powerhouses including Starbucks and BCG to facilitate easy and hassle-free selling and purchasing of digital assets. The first use case will be the trading of Bitcoin to fiat, but more digital assets and functionalities will be incorporated in the future.

Taking Cryptos Mainstream

The new platform will be powered by Microsoft’s cloud solution and will help its users to buy, sell and spend digital assets, ICE revealed in a press release. Bakkt will partner with some leading companies to develop the platform including Boston-based consulting giant BCG, Microsoft, and Starbucks. While consumer-facing applications will take center stage, the platform will also support merchant applications, warehousing and federally regulated markets. According to ICE, the first use case will be the conversion of fiat to Bitcoin, “as Bitcoin is today the most liquid digital currency.”

ICE’s interest in cryptos is led by the rising interest of investors in blockchain technology. Through Bakkt, the Atlanta, Georgia-based exchange operator will leverage its trusted and advanced market infrastructure to help digital assets to evolve and meet changing investor needs, all the while maintaining security and efficiency and supporting transaction flows.

ICE’s founder and CEO, Jeffrey C. Sprecher, expressed his confidence that the firm could give investors confidence in this new asset class.

In bringing regulated, connected infrastructure together with institutional and consumer applications for digital assets, we aim to build confidence in the asset class on a global scale, consistent with our track record of bringing transparency and trust to previously unregulated markets.

Bakkt will also tap into ICE’s US-based futures exchange to launch a 1-day physically delivered Bitcoin futures product which will be supported with physical warehousing. This product will be offered beginning in November pending the approval of the CFTC. According to ICE, the regulated and fully compliant nature of the platform will “establish new protocols for managing the specific security and settlement requirements of digital currencies.”

ICE’s partnership with Starbucks will see the coffeehouse chain make its first significant foray into the crypto industry, and as its VP of Partnerships and Payments stated, it will have a huge role to play in the advancement of cryptos as a payment method.

As the flagship retailer, Starbucks will play a pivotal role in developing practical, trusted and regulated applications for consumers to convert their digital assets into US dollars for use at Starbucks. As a leader in Mobile Pay to our more than 15 million Starbucks Rewards members, Starbucks is committed to innovation for expanding payment options for our customers.

The announcement has confirmed reports dating as far back as May which stated that ICE was working on the physically-settled Bitcoin futures. The news had been received with optimism by crypto enthusiasts, with experts indicating that such a move would be a huge stride in the mainstream adoption of cryptos. ICE’s backing of the new platform will give confidence to institutional investors such as insurance companies, hedge funds and pensions to invest significant capital in Bitcoin and, subsequently, other cryptos.

Zurich’s branch of Credit Suisse has seen an exodus of staff, as they switch from banking to cryptocurrency over the past year.

The last to leave, Andrew Reel, has left the Swiss bank to become head of digital asset markets at Morgan Stanley also based in Zurich. But he’s just the tip of the iceberg when it comes to crypto defectors, with insider reports from the Swiss banking giant stating that 11 others have also departed on the digital career trail.

Three others have left CS bound for various positions at Crypto Finance, a Swiss company that aims to implement blockchain technology, and one to become head of trading. Two others have left the bank and set up Vision&, a self-described “Swiss-based, SRO-regulated asset manager facilitating access to innovative blockchain investment opportunities.” Since then, these two have reportedly launched the first actively managed blockchain investment product in Switzerland.

A crypto exchange in Zug, Switzerland’s Crypto Valley, called Lykke, has been the beneficiary of another Credit Suisse defector, which later saw the arrival of two further CS refugees. Two other companies have also snapped up leavers such as blockchain company Digital Asset and Schneider Digital Asset.

Apparently, all professionals in the Zurich banking market are well known to each other and it appears that they’ve all ended up at Credit Suisse at some time or another. One of the leavers commented:

“We all worked together on the trading floor…The community in Switzerland (and globally) was very compact a couple years ago. Our small blockchain cell of people entered the space rather early and shared knowledge.”

Reportedly its that fact the cryptocurrency and blockchain lend themselves to a better way of expressing the entrepreneurial spirit than banking. He added, “We found different ways to enter the crypto business but still keep close and exchange thoughts.”

Switzerland’s stock exchange, SIX, announced recently that it will open its doors to digital currencies. The new platform which is being built by SIX will offer integrated post-transaction services such as deal settlement and asset custody through DLT. SIX and regulated by Finma. The Swiss Central Bank, says that it plans to roll out its cryptocurrency service in the first half of 2019.

Follow BitcoinNews.com on Twitter at @BitcoinNewsCom

Telegram Alerts from BitcoinNews.com at https://t.me/bconews

Image Courtesy: Pixabay

The post Eleven Credit Suisse Staff Take Crypto Positions Elsewhere appeared first on BitcoinNews.com.

“Customers will not be able to pay for Frappuccinos with bitcoin,” Starbucks clarifies, after media misleadingly report on the company’s new crypto-related venture

Margin trading has become increasingly popular in the world of Bitcoin and altcoins. Speculators and investors can be exposed to volatile cryptocurrencies without buying them directly or owning them at any point. Nevertheless, one has to wonder whether margin trading is a blessing or a curse for cryptocurrency. So far, it seems to be both.

What Is Margin Trading?

For those unaware of what margin trading entails exactly, it revolves around using borrowed funds from a broker to trade financial assets. In this case, the trading involves Bitcoin or other cryptocurrencies. Traders can even leverage their position to further increase the potential profits – or losses – associated with their margin position.

Advantages and Disadvantages

Unsurprisingly, margin trading is a very risky venture. By using borrowed funds to “gamble” on future Bitcoin or altcoin prices, traders take very big risks. People still need to put up a certain amount of funds from their own resources to open a long or short position, but it is evident that there are no guarantees of making a profit. Especially in volatile markets such as Bitcoin, losses can occur equally as quickly as gains.

The upside is that investors are not required to buy Bitcoin itself. There is no conversion from fiat to Bitcoin involved, which makes margin trading very appealing to speculators. All they need is a suitable platform to margin trade Bitcoin or altcoins and sufficient funds to play around with. This venture is not appealing to everyone, but neither are cryptocurrencies in general.

Which Platforms Support Margin Trading?

Several cryptocurrency exchanges allow one to margin trade either Bitcoin or altcoins. Even though there is still room for more options, some of the popular platforms include BitMex, Bitfinex, WhaleClub, Kraken, Huobi Pro, and Poloniex. There’s no shortage of platforms on which to perform margin trading, but that doesn’t mean this venture is without risks.

How Risky Is Margin Trading?

As people have seen with the recent OKEx margin trading kerfuffle, things can get out of hand pretty quickly. Margin positions with maximum leverage can easily cause millions of dollars in losses which need to be covered, either by the trading platform or by other margin traders. Whether or not the companies in question can afford to cover such expenses is always a question mark.

The Effect on Crypto Prices

As is to be expected, margin trading causes a lot of volatility across the cryptocurrency markets. More people shorting the Bitcoin price will undoubtedly cause overall negative price pressure. In contrast, people who long the Bitcoin price can create positive developments. It is a very risky enterprise, and one that may not necessarily help Bitcoin or altcoins in the long term.

Blockchain-based payment platform, UTRUST and AidCoin will combine forces to enable charitable donations across the world in 23 different cryptocurrencies.

The project is being launched to simplify donations in multiple countries via the UTRUST interface. The new system is set to replace methods whereby a donor transferred and then converted funds into AidCoin tokens or through a donate button allowing donors to transfer UTK from their UTRUST wallet to the AIDChain wallets of various charities.

The new donation system called AIDPay is a widget which allows the donor to use any one of 23 supported cryptocurrencies to pay charities registered with AIDChain online using a fully trackable system including how the money is dispersed and what on.

There’s been a significant rise in the number of charities supported by cryptocurrency donations in the recent years. Some of these include Electronic Frontier Foundation, Multidisciplinary Association for Psychedelic Studies, WikiLeaks, Antiwar.com, Watsi, Water Project, Code to Inspire, BitGive and Epic Change.

In such a scenario, not even a single day passes without the release of another crypto-aid project or a way to make donations and fund utilization more transparent so that NGOs and private charities are more accountable.

Brian Armstrong, the CEO of digital currency service Coinbase, recently announce the launch of a project to help the homeless and other people out of poverty with a personal USD 1 million donation.  GiveCrypto is a global enterprise which will make cryptocurrency donations to worthy recipients, who will then be able to make personal choices in whether to keep their cryptocurrency donations or exchange them for fiat.

Madonna with her Raising Malawi project has built 14 schools in rural Malawi and in partnership with buildOn have educated community members about the importance of girls’ education in that country. Ripple too, was quick to support her project with a dollar for dollar match of donated funds.

Even English Heritage, a UK charity that provides the country with access to over 400 historical sites, buildings, monuments and places, has found a way of making the technology behind Bitcoin play its part in supporting that country’s historical heritage by partnering with charity platform Giftcoin.

UTRUST’s move is another link in the chain allowing cryptocurrency funds to continue flowing towards needy causes — a forgotten fact by dissenters who happily feed the FUD in these volatile times.

Francesco Nazari Fusetti, CEO and Founder of AidCoin commented:

“We’re excited to introduce an opportunity for crypto-holders to donate cryptocurrency straight from their Utrust wallets seamlessly, or when making a payment…This is, of course, a well-established practice in conventional banking and payments solutions, and yet until now, has been an unprecedented case in the crypto world.”

Follow BitcoinNews.com on Twitter at @BitcoinNewsCom

Telegram Alerts from BitcoinNews.com at https://t.me/bconews

Image Courtesy:Pixabay

The post UTRUST Just Made Charitable Donations a Whole Lot Easier as Crypto Flows to Charity appeared first on BitcoinNews.com.