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These Cryptocurrency Exchanges Offer Futures Markets on Unreleased Tokens

March 17, 2019 |

These Cryptocurrency Exchanges Offer Futures Markets on Unreleased Tokens

Officially, Cosmos atoms have yet to reach a cryptocurrency exchange, and until the Cosmos network votes to approve their listing, atoms aren’t tradable anywhere. Unofficially, you can buy and sell Cosmos tokens on half a dozen exchanges already, where the spot prices differ wildly. Welcome to the world of cryptocurrency derivatives, where futures markets can be found for scores of unreleased tokens.

Also read: New Tasking Platform Lazyfox.io Rewards Users With Bitcoin Cash

Monfex Launches Telegram Crypto Derivatives

Monfex is the latest platform to offer leveraged futures on Telegram’s tokens, known as grams. The trading platform, founded in 2018 by Alexander Nekritin, follows on the heels of Xena in offering leveraged Telegram futures. Up to 50x leverage is available on Monfex (2x in the case of grams), which has latched onto the significant interest in the Telegram Open Network (TON). With 200 million users to tap into, expectations are high for widespread adoption of gram tokens from day one.

These Cryptocurrency Exchanges Offer Futures Markets on Unreleased Tokens

Regardless of how Telegram’s token fares, both in terms of price and in user adoption, Monfex and its ilk offer exposure to the asset for those who weren’t able to get into the private token sale, and enable price discovery before the tokens become officially tradable. There are a number of benefits to traders interested in speculating on futures markets for tokens like gram and Cosmos’ atom:

  • Futures contracts can provide high liquidity, resulting in low spreads and fast execution.
  • Leveraged futures require a smaller margin to enter a trade.
  • Futures provide the option to sell short, giving traders the ability to go each way.
  • There is no obligation to own the token to enter a trade.

These Cryptocurrency Exchanges Offer Futures Markets on Unreleased Tokens

Trade Any Token You Like on These Exchanges

There are strong incentives to dabble in futures markets, including an early shot at speculating on assets that are widely predicted to moon. There are, however, risks and downsides that must also be considered. For one thing, many of the exchanges that offer futures markets are relative unknowns that fall outside the top 20 platforms by trading volume. In addition, the spot prices for futures can differ wildly. At the time of publication, for example, Bitforex is quoting $ 20 per atom, while Gdac and Coinone are quoting a more reasonable $ 5.50. Other platforms offering futures for a variety of as-yet unlocked tokens include Bitbox, Crypto.com, Bitmesh, Hotbit, Xena, and Monfex.

These Cryptocurrency Exchanges Offer Futures Markets on Unreleased Tokens

Due to the largely unregulated nature of the crypto industry, exchanges in many jurisdictions are free to create their own derivatives and futures markets on a whim. Provided platforms have structured these markets so as to cover their liabilities whatever the outcome, there should be no problems. However, it is sometimes unclear to traders precisely what they are speculating on, and whether futures markets will be converted into regular markets once tokens are unlocked and deposits and withdrawals enabled. In January, for example, a handful of exchanges were caught offering Grin markets before the first coins had even been mined.

With just 80 investors believed to have gotten into the Telegram token sale, interest in acquiring grams has been high. Tokens are expected to be unlocked later this month, but in the interim, there is no shortage of exchanges willing to allow traders to speculate on the value these assets will reach. On Lbank, gram tokens are already changing hands for $ 0.89 apiece.

What are your thoughts on platforms that offer futures markets for ICO tokens? Let us know in the comments section below.


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The post These Cryptocurrency Exchanges Offer Futures Markets on Unreleased Tokens appeared first on Bitcoin News.

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Canadian Capital Market Regulators Mull New Cryptocurrency Rules

March 15, 2019 |

Canadian Capital Markets Regulators Mull New Cryptocurrency Rules

Capital market regulators in Canada are planning to establish new rules to curb the risks associated with cryptocurrency trading platforms. This follows the sudden death of Gerald Cotten, founder and chief executive officer of crypto exchange Quadrigacx, which led to about $ 145 million in frozen or missing cryptocurrencies.

Also read: Bitcoin Exchange Gatecoin Shuts Down Citing Financial Difficulty

Tailored Requirements for Crypto Exchanges

In a joint new consultation paper on March 14, the Canadian Securities Administrators (CSA) and the Investment Industry Regulatory Organization of Canada (IIROC) spoke of the need to come up with tailored requirements to address the “novel features and risks” of digital currency exchanges.

“We must adapt to innovation, and provide clarity to the market about how regulatory requirements might best be tailored and applied to these unique business models, while maintaining investor protection,” the regulators detailed.

“We endeavor to facilitate innovation that benefits investors and our capital markets, while ensuring that we have the appropriate tools and understanding to keep pace with evolving markets,” they added.

Canadian Capital Market Regulators Mull New Cryptocurrency Rules

Cotten died in India on Dec. 9 without revealing the keys to cold wallets containing CAD $ 190 million (~US $ 145 million). A Nova Scotia Supreme Court judge in February granted Quadriga’s request for creditor protection from as many as 115,000 customers. Investigations by Ernst & Young, the court-appointed monitor in the case, have given little hope the funds will ever be recovered.

However, the Quadrigacx saga has exposed a gap in the Canadian cryptocurrency industry regulation system, prompting investors to query who would be held accountable in the event of a loss. In the past few months, industry players and other concerned stakeholders have increased calls for regulation, although some legal experts are curious to know whether securities regulators have jurisdiction over the asset class.

Regulatory Clarity

Faced with such a tricky situation, the CSA and IIROC have now resolved not only to provide clarity for cryptocurrency businesses, but also to create greater market integrity and address investor protection risks, explaining:

Regulators around the world are currently considering important issues surrounding the regulation of crypto assets including the appropriate regulation of platforms. We intend to use this feedback to establish a framework that provides regulatory clarity to platforms, addresses risks to investors and creates greater market integrity.

The consultation paper solicits input from the financial technology community, market participants, investors and other stakeholders on how requirements may be tailored for digital currency exchanges operating in Canada. It comes at a time when interest in crypto assets among investors, governments and regulators globally has increased significantly since the creation of Bitcoin in 2008.

The total value of crypto assets grew to $ 800 billion in early 2018, and although the value has since fallen due to market volatilities, interest in cryptocurrencies remains high. There are currently over 2,000 crypto assets that may be traded for government-issued currencies or other types of crypto assets on over 200 platforms that facilitate the buying, selling and transferring of crypto assets.

Canadian Capital Market Regulators Mull New Cryptocurrency Rules

But there are concerns by government overlords that lack of regulatory oversight on these platforms may have spurred increased fraudulent activities involving cryptocurrencies, thereby curtailing investment. According to the Globe and Mail, many Canadian cryptocurrency exchanges are taking steps to address customer concerns and guarantee investor fund protection following the Quadrigacx event.

For example, Toronto-based Bitbuy has simulated a number of disasters – including nuclear attacks and the sudden passing of all of its directors – to ensure that customers would still be able to access their funds, the newspaper reported. Bitbuy also recently hired a U.S.-based blockchain forensics company to review its solvency status, its methods for storing cryptocurrency, and its asset segregation practices, it said.

What do you think about cryptocurrency regulation in Canada? Let us know in the comments section below.


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The post Canadian Capital Market Regulators Mull New Cryptocurrency Rules appeared first on Bitcoin News.

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Artificial Intelligence and Cryptocurrency: Separating Hype from Reality

March 15, 2019 |

Artificial Intelligence and Cryptocurrency: Separating Hype from Reality

Pick an industry – any industry – and you can virtually guarantee that AI will have been hailed as its next big thing. The cryptocurrency sector is no different, with many of 2017’s ICOs shoehorning the concept into their whitepapers somewhere in a bid to appear “cutting edge” and in touch with the zeitgeist. But beyond all the hype, what impact will artificial intelligence have on the crypto industry, and could its rise ultimately render human traders obsolete?

Also read: Late Quadrigacx CEO Used Personal Funds to Fulfill Withdrawals

The Companies Cashing in on the AI Craze

AI is to tech what “blockchain” is to the cryptocurrency industry: a concept whose genuine applications are significantly outnumbered by the projects interested solely in latching onto the buzzword and surfing it for all it’s worth. Given that startups described as being involved with AI attract 15-50% more funding than other tech firms, it’s understandable why companies are so keen to cash in on the hype. Unfortunately, this has served to drown out much of the real progress being made in AI-based technologies.

In the traditional financial markets, AI is well established and has already made its mark. For artificial intelligence to be effective, it requires vast troves of data for the purposes of machine learning, and the stock market is ideal for this purpose, with terabytes of empirical data to draw upon. The evidence that AI can out-trade humans in this domain is compelling. A recent study by Eurekahedge of 23 hedge funds using artificial intelligence showed that the computers returned significantly better results than those managed by people. But what about in the cryptocurrency markets?

Artificial Intelligence and Cryptocurrency: Separating Hype from Reality

AI Is Already Here – It Just Isn’t Evenly Distributed

Within the smaller cryptocurrency sector, there’s an assumption that there are too many exogenous factors for AI-based tools to have an edge. That assessment will soon seem archaic, for with the development of software that can simulate trillions of trading days, algorithmic trading powered by AI will inevitably prevail.

Danil Myakin is the co-founder of Squilla Capital, an analytical service for crypto project and market evaluations that incorporates AI and big data. He told news.Bitcoin.com: “Human bias is almost impossible to eliminate. People trade on their emotions, often unwittingly. Data-based decision-making eliminates the noise that can cloud people’s judgement, preventing them from acting rationally, and focuses solely on the signal.” Myakin added:

Provided you have a large enough sample set, computers that have been trained using machine learning will consistently derive more accurate insights than humans. In recent years, this theory has been proven in every major financial market, and it’s now being applied to the cryptoconomy with equally convincing results.

How AI Is Being Applied Within the Cryptosphere

There are a number of areas in which artificial technology is showing its worth when it comes to automated trading. One of these is high frequency trading (HFT) which relies on analysis of technical indicators across multiple exchanges in order to respond to market-moving trades faster than the rest of the market. For example, if a trader was to place a large BTC buy order on Kraken, HFT could enable an order to be executed on another exchange almost instantly to capitalize on the price spike.

Artificial Intelligence and Cryptocurrency: Separating Hype from Reality

AI can also facilitate automated trading via API connected to leading exchanges. Traders can select indicators they wish the software to base its decision-making on, such as RSI and EMA, and the desired timeframe. The AI will then implement trades within these parameters. Traders can backtest their settings, refine and optimize them. As time goes on, the AI’s performance should improve as the dataset at its disposal increases. Away from the crypto markets, AI is also being used for sentiment analysis, to sift through the chatter occurring on social media and determine how the community feels about particular projects, from which actionable insights can be derived.

Artificial intelligence isn’t a panacea that can be liberally applied to every facet of the cryptocurrency industry, nor is it going to render the smartest human traders redundant overnight. Nevertheless, its invisible hand is already pulling strings within the sector, facilitating everything from faster order execution to detecting bots and scammers. Our AI overlords are already here.

What are your thoughts on AI-powered trading – do you think it will eventually dominate the cryptocurrency markets? Let us know in the comments section below.


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The post Artificial Intelligence and Cryptocurrency: Separating Hype from Reality appeared first on Bitcoin News.

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Texas Representative Wants to Ban the Anonymous Use of Cryptocurrency

March 11, 2019 |

Texas Representative Wants to Ban the Anonymous Use of Cryptocurrency

A Republican member of the Texas House of Representatives, Phil Stephenson, has just introduced a bill that would require residents of the state to identify themselves if they wish to use cryptocurrencies. H.B. No. 4371 details that individuals who send and receive digital currencies must be known. Although, if the user happens to use a “verified identity digital currency,” then they don’t have to submit verification to the state.

Also read: Bitcoin Cash Fans Start ‘Torch Passing’ Ceremony With a Non-Divisible Token

Texas House Bill 4371 Wants Digital Currency Users in Texas to Verify Their Identities

Texas could be the first state in the U.S. to ban the anonymous use of cryptocurrencies. Representative Phil Stephenson, a staunch Texas Republican and certified public accountant (CPA), wants residents in the state to verify their identities if they choose to use digital currencies. Stephenson’s H.B. No. 4371 says that if the bill becomes law it will take effect on Sept. 1, 2019. Section 662.02 details that before accepting digital currency payment, a person must verify the identity of the sender. Oddly enough the person is “not required to verify the identity of a person sending payment if the payment is sent by a verified identity digital currency.”

H.B. No. 4371 further states:

[Texas] may not use a digital currency that is not a verified identity digital currency — The Texas Department of Banking, Credit Union Commission, Texas Department of Public Safety, and State Securities Board shall collaborate to encourage the use of verified identity digital currencies.

Texas Representative Wants to Ban the Anonymous Use of Cryptocurrency
Representative Phil Stephenson

‘Attacking the Anonymous Use of Cryptocurrencies’

Stephenson’s bill notes that the agencies mentioned will provide the public with tools so they can determine the difference between a verified identity digital currency and one that provides anonymity. The Texan lawmaker, who recently won his seat against Democratic challenger Jennifer Cantu, believes his CPA can help the state with financial situations. However, free-market nonprofit organization Texans for Fiscal Responsibility gave Stephenson a 40 percent favorable rating, which is very low for a Republican lawmaker.

Texas Representative Wants to Ban the Anonymous Use of Cryptocurrency

Cryptocurrency advocates were quite flustered to hear the news that a bill attempting to ban anonymous digital currency use was submitted. “Congratulations Texas, you’re the first state to formally attack and attempt to ban anonymous use of cryptocurrency in the U.S.,” Andrew Hinkes, cofounder and general counsel of Athena Blockchain, exclaimed on Twitter.

Hinkes added:

Other questions: Would any existing cryptocurrency or digital currency qualify as a ‘verified identity digital currency’ as defined? What level of ‘ID’ is required to be ‘verified’? State issued? Are four state administrative bodies the right entities to ‘promote’ a digital currency?

It’s safe to say that a large majority of cryptocurrency fans were disheartened to hear about the bill. Texas is well-known for being a friendly region when it comes to digital currencies and overall personal freedoms like gun rights. If the bill passes then it could very well affect business operations and add a wide variety of other challenges for citizens who believe in privacy.

What do you think about Republican Phil Stephenson’s H.B. No. 4371? Let us know what you think about this subject in the comments section below.


Image credits: Shutterstock, Pixabay, and Capitol.texas.gov.


Verify and track bitcoin cash transactions on our BCH Block Explorer, the best of its kind anywhere in the world. Also, keep up with your holdings, BCH, and other coins, on our market charts at Satoshi’s Pulse, another original and free service from Bitcoin.com.

The post Texas Representative Wants to Ban the Anonymous Use of Cryptocurrency appeared first on Bitcoin News.

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Fidelity’s Cryptocurrency Arm Starts Offering Institutional Investor Services

March 9, 2019 |

Fidelity's Cryptocurrency Arm Starts Offering Services to Institutional Investors

Fidelity Investments’ new cryptocurrency arm is now up and running. The unit, Fidelity Digital Assets, began operations earlier this quarter but didn’t make any noise about it. It has already started offering trade execution and crypto custody services to institutional investors such as hedge funds and private wealth management firms.

Also read: UN Panel: North Korea Hacked $ 571M From Asian Crypto Exchanges

Bear Market – What Bear Market?

Tom Jessop, who heads Fidelity Digital Assets, told CNBC that the so-called crypto winter hadn’t affected the rolling out of operations at the new unit. Weak prices have also failed to put a damper on the company’s institutional cryptocurrency offerings, he stated.

“In terms of our pipeline, prices really haven’t had an impact. If you started a crypto fund at the height of the market you’re probably hurting right now,” Jessop was quoted as saying, on Mar. 8. Fidelity Investments first announced the creation of its cryptocurrency subsidiary last October.

Fidelity's Cryptocurrency Arm Starts Offering Institutional Investor Services

However, since the announcement, bears have continued to dominate the market. Last year, bitcoin core lost more than 80 percent of its value, skidding from a peak of almost $ 20,000 to $ 3,879 as of this writing.

In 2019, prices have appeared to stabilize between $ 3,300 and $ 4,000. But conservative institutional investors, such as those courted by Fidelity, have hesitated to enter the cryptocurrency space. That’s partly due to concerns over bitcoin’s volatility, which can swing or crash by as much as 10 percent within a matter of hours.

Wait and See Attitude

Jessop admitted that institutional investors are still in “wait and see” mode where cryptocurrency investments are concerned. However, he explained that there is long-term interest from such investors to add some crypto to their portfolios. Many corporate investors consider cryptocurrency a store of value during a crisis, while others look at it as an opportunity to trade. Jessop opined:

If anything, they (institutional investors) are as encouraged now as they were when prices were higher. At some point, there will be an attractive entry point. But by the same token people don’t want to be early even if we’re well off the highs.

To establish the level interest, Fidelity surveyed about 450 institutions, including the rich, hedge funds and endowments, CNBC reported. The results showed 22 percent of the respondents already owned cryptocurrency and were planning to double their portfolios.

Fidelity's Cryptocurrency Arm Starts Offering Institutional Investor Services

Fidelity Digital Assets will help these investors to buy and sell cryptocurrencies across several exchanges as well as store the digital assets safely. Jessop also revealed that some aspects of the business remained a work in progress, such as expanding the areas where it can do business while attending to competing client needs, some of whom require a bit of education in crypto investing.

Fidelity’s entry into the cryptocurrency industry is viewed as a major turning point for drawing institutional investors into the same space. The 72-year old family-run company manages retirement plans and mutual funds.

What do you think about Fidelity’s new cryptocurrency unit? Let us know in the comments section below.


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Express yourself freely at Bitcoin.com’s user forums. We don’t censor on political grounds. Check forum.Bitcoin.com

The post Fidelity’s Cryptocurrency Arm Starts Offering Institutional Investor Services appeared first on Bitcoin News.

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UK Regulator: 3% of Consumers Surveyed Have Bought Cryptocurrency

March 7, 2019 |

British Regulator: 3% of UK Consumers Surveyed Had Bought Cryptoassets

The U.K.’s Financial Conduct Authority (FCA) published two reports on consumer attitudes and awareness to crypto assets in the country. The research includes qualitative interviews and a national survey of 2,132 British consumers.

Also Read: In the Daily: Tokenized ETFs, Chainalysis, Binance Labs in Argentina

3% of Brits Report Buying Crypto Assets

The number of consumers who reported buying cryptocurrencies in the national survey stood at just 51. From this, the FCA estimates that only 3 percent of Brits have ever bought crypto assets. Of those who reported buying crypto, around half spent under £200 ($ 263) and a large majority of those said they had financed the purchase with their disposable income and not with borrowed money. 50 percent reported to have spent their money on BTC, 34 percent chose ETH, and 20 percent invested in BCH, LTC and XRP.

These findings could indicate under-reporting by cryptocurrency owners, some of whom may wish to keep their investments private, but the figure seems to have alleviated the fears of the regulators. Christopher Woolard, the FCA’s Executive Director of Strategy and Competition, commented: “The results suggest that although crypto assets may not be well understood by many consumers, the vast majority don’t buy or use them currently. Whilst the research suggests some harm to individual crypto asset users, it does not suggest a large impact on wider society.”

UK Regulator: 3% of Consumers Surveyed Have Bought Cryptocurrency

27% of UK Consumers Can Define Cryptocurrency

In its summary of the research, the FCA has intimated that some cryptocurrency investors are clueless and greedy. For example, it highlights the handful of interviewees who said they made their purchases without completing any research or due diligence beforehand, despite the fact that this is true of many casual forex and stock investors who do the same.

The FCA also tries to link cryptocurrency owners to “risky behaviors” such as listening to friends, acquaintances and social media influencers over the government’s warnings. Moreover, it notes that “many told the qualitative researchers that they were distrustful of mainstream media or official sources of information.”

Additionally, it highlights that 73 percent of those surveyed said they didn’t know what cryptocurrency is or were unable to exactly define the term. The term was most recognized by middle class and upper middle class men aged 20-44 years old.

UK Regulator: 3% of Consumers Surveyed Have Bought Cryptocurrency

What do you think about the findings of the FCA’s research? Share your thoughts in the comments section below.


Images courtesy of Shutterstock, FCA.


Verify and track bitcoin cash transactions on our BCH Block Explorer, the best of its kind anywhere in the world. Also, keep up with your holdings, BCH and other coins, on our market charts at Satoshi’s Pulse, another original and free service from Bitcoin.com.

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Canada Tax Agency Poses Probing Questions to Cryptocurrency Owners

March 7, 2019 |

Canada’s Tax Agency Poses Probing Questions to Cryptocurrency Owners

The Canada Revenue Agency (CRA) has sent an extremely detailed questionnaire to citizens it believes to be in possession of cryptocurrency. Those suspected of failing to disclose the full extent of their holdings have been asked whether they use a cryptocurrency mixing service, and if so, why. They’ve also been asked to provide the full tracing history of any transactions that have passed through a bitcoin tumbler.

Also read: A Forensic Analysis of Blockchain Surveillance Companies

CRA Poses Some Very Probing Questions

A number of Canadian cryptocurrency holders have reported receiving a detailed questionnaire from the CRA. The request, Forbes reports, is part of a deep audit into the behavior of bitcoin-holders that looks back several years into their transactional history. Tax investigations of cryptocurrency users are becoming commonplace, but the nature of some of the questions posed by the CRA have set alarm bells ringing for Canadian cryptocurrency holders.

One set of questions in particular has caused quite a stir. The CRA asks:

Do you use any cryptocurrency mixing services and tumblers? If so, which services do you use? Can you please provide us with the tracing history, along with all the cryptocurrency addresses you ‘mixed’? Why do you use these services?

While the tax agency’s reasons for quizzing the use of mixing services is obvious, given that they can be used for money laundering and tax evasion, these tools are not illegal and are popular with privacy-conscious bitcoiners. Volunteering the “tracing history” of coins passed through a mixer would defeat the whole point of the exercise, and erode any privacy gains that had temporarily been made. It would also be technically difficult, if not impossible, depending on the cryptocurrency and mixer in question.

Canada Tax Agency Poses Probing Questions to Cryptocurrency Owners

Earlier this week, news.Bitcoin.com reported on blockchain forensics firm Crystal, owned by Bitfury, which promises to “evaluate and compare the likelihood of blockchain participants’ association with known ‘bad actors’.” One such “bad” service it mentioned in this respect was bitcoin mixers.

Enhanced Scrutiny for the ‘Crime’ of Owning Cryptocurrency

The journalist who broke the Canadian tax investigation story has shared images of the questionnaire sent to individuals who have been subjected to a CRA audit. Other questions in the audit include whether the individual uses Shapeshift or Changelly, and if so, which crypto addresses they’ve used to exchange assets, and the date when this occurred.

Canada Tax Agency Poses Probing Questions to Cryptocurrency Owners Canada Tax Agency Poses Probing Questions to Cryptocurrency Owners

Federal agencies such as the CRA are entitled to audit individuals to determine whether they have fully disclosed and paid their tax obligations in full. It follows that crypto assets should be treated no differently to any other form of wealth in this respect. Nevertheless, the depth and breadth of the questions posed to the Canadian citizens targeted is more extensive than anything previously perpetrated by other crypto-savvy agencies such as America’s IRS.

In a statement provided to Forbes, the CRA explained that it is “committed to helping taxpayers understand their tax obligations when using digital currencies, and to remind them that using digital currency does not exempt consumers from their tax obligations.” Despite financial crimes involving cryptocurrency having been shown to be proportionally lower than those involving fiat currency, bitcoiners are increasingly singled out for enhanced scrutiny from government agencies.

What are your thoughts on the CRA’s audit of cryptocurrency owners? Let us know in the comments section below.


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Travala.com’s Cryptocurrency Gateway Provides Travel to 82,000 Destinations

March 4, 2019 |

Travala.com's Cryptocurrency Gateway Provides Travel to 82,000 Destinations

Members of the cryptocurrency community can now book rooms in over 550,000 properties worldwide by utilizing the accommodation and hotel booking service Travala.com. The company’s crypto payment gateway accepts a myriad of cryptocurrencies so individuals and organizations can travel to 82,000 destinations and pay with their favorite digital asset.

Also read: An In-Depth Look at Ethereum’s Maker and Dai Stablecoin

Book 550,000 Property Listings With a Myriad of Digital Assets

Crypto enthusiasts have been discussing a hotel booking service called Travala.com recently which provides accommodation in a wide variety of countries and cities. Travala accepts 10 different cryptocurrencies including its native token AVA, BCH, ETH, XRP, LTC, TUSD, TRX, NAN, XRB, and BNB. The startup’s native token AVA is a protocol based on the NEO network. At the time of publication, the startup offers bookings to 567,928 properties in 210 countries which add up to roughly 82,311 travel destinations. This includes places like Paris, Rome, Bali, Hanoi, Singapore, Amsterdam, London, Lisbon, New York, Los Angeles, Montreal, and Toronto.

Travala.com’s Cryptocurrency Gateway Provides Travel to 82,000 Destinations

Travala launched in July of 2018 with the goal of providing a blockchain-powered travel system. Travala heralds itself as the crypto economy’s equivalent to Expedia because of the abundance of prominent listings the service provides. Unfortunately for crypto enthusiasts, Expedia silently dropped bitcoin core (BTC) payments last year for unknown reasons. This year, Travala started seeing increased traction. For instance, January bookings increased from last December’s numbers by 265 percent.

Travala.com’s Cryptocurrency Gateway Provides Travel to 82,000 Destinations

The startup also partnered with a leading travel firm from China, Didi Travel, in order to bolster the firm’s presence in one of the largest countries on earth. The most popular destinations in January included places like the U.S., Italy, Thailand, Spain, Singapore, Sweden, and the Philippines.

Travala Hopes to Have 1.5 Million Properties Listed in 2019

On Jan. 31 the company introduced fiat payments to the Travala platform which allows people to pay for bookings with Paypal, and four major credit cards. During the update, the startup said that booking descriptions were improved with a “clear breakdown of room type, meal type, price-per-night, booking price, and the total.” Travala also has a roadmap for 2019 improvements and aims to add things like discounts and loyalty rewards to the system. Additionally, Travala will be adding a referral program, integration with Gimmonix, partner with 15 wholesale suppliers, and hopes to cover 1.5 million properties by the year’s end.

Travala.com’s Cryptocurrency Gateway Provides Travel to 82,000 Destinations

Travala will be joining a few other companies that offer hotel bookings, accommodations, and flights as well. Cheapair accepts BCH, LTC, DASH, and BTC for hotels, flights, and car rentals. Bitcoin.travel is a travel agency that accepts BTC and queries a list of flights and hotels through its partners. The New York-based travel agency founded in 2013 provides customers with flight and hotel reservations using BTC as well. Users interested in flights and cruise bookings can utilize Webjet Exclusives and Cryptocribs aims to decentralize Airbnb by allowing booking payments with BCH, ETH, and BTC.

Travala wants to be known throughout the cryptocurrency ecosystem as a next-generation travel agency. “A one-stop travel booking platform combining the best of this generation’s online travel agency (OTA) functionality with the incredible benefits of next gen’s decentralized technologies and tokenized incentives,” explains the company’s website. Moreover, Travala claims that the company offers a competitive minimum average of 15% lower than current mainstream OTAs. This is due to the partnership with leading wholesale travel solution partners and a cryptocurrency-based incentivization economy.

What do you think about Travala.com’s services? Let us know what you think about this subject in the comments section below.

Disclaimer: This article is for informational purposes only. Readers should do their own due diligence before taking any actions related to the mentioned companies, creators, associates, or any of its affiliates or services. Bitcoin.com and the author are not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.


Image credits: Shutterstock, Pixabay, and Travala.com.


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Payglobal Provides Cryptocurrency to Fiat Transfers With Existing Bank Cards

March 3, 2019 |

Payglobal Provides Cryptocurrency to Fiat Transfers With Existing Bank Cards

While there’s been a lot of news of cryptocurrency debit cards closing shop over the last two years, a company called Payglobal offers cryptocurrency to fiat transfers onto a user’s existing bank card. The U.K. based e-wallet service licensed by the Financial Conduct Authority (FCA) aims to provide a variety of end-to-end solutions for people who want to get paid using alternative payments and cryptocurrencies.

Also read: Crypto Exchange Circle Partners With Financial Surveillance Provider Nice Actimize

Crypto to Fiat Transfers for Existing Bank Cards

There’s a new service available throughout the European Union, Australia, Singapore, Mexico and Nigeria that allows users to transfer cryptocurrency to fiat and load their existing bank cards. Payglobal, headquartered in the U.K., allows registered customers to receive funds through bank transfer, debit card, alternative payments and digital currencies bitcoin core (BTC) and ethereum (ETH). Giora Tal, Payglobal’s CEO, told news.Bitcoin.com that other cryptocurrencies will be added in the future and the company will also be expanding to other countries. The firm believes that individuals will appreciate a turnkey e-wallet solution that supports conversions from cryptocurrency to fiat money and transferred onto existing bank cards.

Payglobal Provides Cryptocurrency to Fiat Transfers With Existing Bank Cards

Speaking with our newsdesk, Tal explained that the company simplifies payments by eliminating friction and allowing “customers to get paid in innovative ways.”

“Converting cryptocurrency to fiat money and sending it to your existing bank card through our regulated e-wallet platform provides customers with a quick and easy way to access their funds worldwide,” Tal detailed. “The way we can transfer money from person to person, or company to a person is constantly evolving and we are delighted to be the pioneers paving these new payment channels.”

Payglobal Provides Cryptocurrency to Fiat Transfers With Existing Bank Cards

Freelancers, the Gig Economy and Remittances

Users have to register on the Payglobal.me website and a Know Your Customer (KYC) verification process is required. Payglobal users must submit valid government-issued identification, proof of address, and a verified mobile phone number. After the approval is finished, users simply select the fiat they wish to withdraw and they pay a cryptocurrency invoice. Once the transaction is complete, the available fiat balance will be displayed on the account dashboard and from there the customer can select the amount of funds they wish to send to their Visa bank card. Payglobal’s transfer service has a minimum of €5 and a maximum of €1,000 ($ 1,137). The Payglobal e-wallet is not available for U.S. residents and a few other countries.

Payglobal Provides Cryptocurrency to Fiat Transfers With Existing Bank Cards

While there are a number of crypto-fueled debit cards offered in the European region, Payglobal believes it is adding convenience by allowing people to load their existing bank cards. Tal told news.Bitcoin.com that the startup’s “state-of-the-art technology offers new payment solutions yet to be seen in the market.” In addition to cryptocurrency solutions, Tal explained that the company has an array of tools for freelancers, the gig economy, fintech startups, blockchain developers, and family-to-family remittances.

What do you think about Payglobal’s crypto to fiat service? Let us know what you think about this subject in the comments section below.

Disclaimer: This article is for informational purposes only. Bitcoin.com does not endorse this service. Readers should do their own due diligence before taking any actions related to the mentioned companies or any of its affiliates or services. Bitcoin.com and the author are not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.


Image credits: Shutterstock, Visa, Payglobal, and Pixabay.


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The post Payglobal Provides Cryptocurrency to Fiat Transfers With Existing Bank Cards appeared first on Bitcoin News.

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