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A new local bitcoin cash venue opens for trading worldwide and the community is nearing a funding goal milestone for BCH developers. Watch these and other developments discussed in this week’s video update on Bitcoin.com’s Youtube channel.
Local BCH Venue Opens as Localbitcoins Removes In-Person Cash Trades
This week’s show discuses the successful opening of Local.Bitcoin.com, a privacy-focused peer to peer global marketplace for trading bitcoin cash (BCH). Over 11,000 people have signed up to the service and already created more than 3,000 offers since the platform’s official June 4 launch date. The launch couldn’t come at a better time for many cryptocurrency traders who prefer to transact in-person for cash as Localbitcoins just removed that option a few days ago.
The weekly update also covers how the bitcoin cash community is advancing in its efforts to support developers with a fundraiser whose contributions are donated to Bitcoin ABC, Bitcoin Unlimited, BCHD, and Bcash. The campaign is closing in on the 15% milestone out of an initial goal of raising 800 BCH by Aug. 1, 2019.
Other developments in the bitcoin cash ecosystem mentioned include the non-custodial Badger Wallet being made available for iOS mobile devices, a recently released browser extension that enhances bitcoin cash addresses for easy tipping, decentralized social network system Memo adding support for creating SLP tokens, and Monarch Wallet adding SLP support for users on both iOS and Android devices. Additionally covered in the weekly update is how Anypay and Cointext have partnered to make remittance transfers cheaper and faster for cross-border payments using bitcoin cash.
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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 Bitcoin.com Markets, another original and free service from Bitcoin.com.
The post Local BCH Venue Opens and Community Goal Nears in the Weekly Update From Bitcoin.com appeared first on Bitcoin News.
The highly anticipated Local.Bitcoin.com is now available to the general public. As of right now, anyone in the world can use the service to trade bitcoin cash (BCH) securely. Since pre-launch signups were announced last month, thousands of traders have created accounts and there are over 2,200 active offers ready to go.
Also read: Creating Your Own SLP-Based Token Using Memo
Local.Bitcoin.com: Prepare to Trade Bitcoin Cash Peer-to-Peer
The Bitcoin.com team has been busy preparing for the launch of our private, peer-to-peer trading platform for the BCH community called Local.Bitcoin.com. We believe that BCH has the means to provide every global citizen with economic freedom, helping liberate them from the confines of the current manipulated economies people are forced to live with today. In contrast to government-issued fiat, the Bitcoin Cash network is a decentralized, peer-to-peer electronic cash system that moves beyond borders and can help the world enjoy a new monetary renaissance. In honor of the 30th anniversary of the Tiananmen Square protests, Bitcoin.com decided to launch the over-the-counter BCH marketplace on June 4.
Our team announced the launch of Local.Bitcoin.com during the second week of May and since then there’s been a ton of interest from crypto enthusiasts around the world. So far the marketplace has seen 7,680 signups, 3,118 total offers and 2,202 active offers from traders out of 3,118 created since launch. A great number of Local.Bitcoin.com signups stem from the U.S. (24.5%), Nigeria (6.1%), Indonesia (5.7%), India (5.1%), and the Philippines (4.7%).
There’s also a decent amount of accounts coming from the U.K., Canada, Zimbabwe, Venezuela, and Russia. Currently, 37.8% of traders plan on swapping with USD but there’s a large number of trades exchanging with EUR, INR, NGN, IDR, PHP, GBP, THB, and CAD. The most popular choice of payment is bank transfer (33.4%) but the second largest payment is in-person cash trades (16%). This is followed by Paypal (14.4%), cash deposit (7.8%) and Western Union (5.7%) while gift cards (2.7%), Moneygram (2%), Skrill (1.8%), and Venmo (1.2%) follow behind.
Today’s grand opening of Local.Bitcoin.com in honor of the Tiananmen Square protests will help make bitcoin cash accessible to anyone who wants unrestricted access to a tool that fosters economic freedom. Bitcoin’s first angel investor and the CEO of Bitcoin.com, Roger Ver, is thrilled to see all the signups and action taking place on the peer-to-peer market during the pre-launch up until the opening day. Ver ventured during the launch:
Local.Bitcoin.com is a game changer for not only for cryptocurrency trading, but for global trade as well.
Signing up for Local.Bitcoin.com is easy and only takes a few minutes. If you want to get in on all the private, over-the-counter trading action happening on our BCH marketplace then go directly to the trading platform’s signup page. Local.Bitcoin.com will ask you to create a username and password for the exchange and the system will also generate a private key offline. Everything is encrypted using AES256-CBC to a PBKDF2-stretched version of your password, ensuring that our company has no access to your Local.Bitcoin.com wallet as the entire process is completely noncustodial. After you complete the signup process, the system will send you a confirmation email so you can access your account settings and create trades.
Now that the market is open you can create offers and trades while also being able to browse the active trades currently listed. You can customize your account setting and change your username, write a blurb about yourself, edit your email address, and add a phone number as well. The account setting section will allow you to set up two-factor authentication and download your Local.Bitcoin.com wallet’s backup. Additionally, in the settings section, you can generate a referral code in order to invite family members and friends. For every person you refer, you earn 20% of the fees for the lifetime of all the users who sign up through your unique code.
Local.Bitcoin.com is a great noncustodial service that allows individuals to trade with each other freely. With Local.Bitcoin.com’s blind escrow system no one touches your money but you and it is technically impossible for our website to spend BCH held in escrow. The escrow makes it so both parties can complete a trade on their own, unlike competitor OTC services where the escrow is held by the third party for a short period of time. Bitcoin.com can help with dispute resolution but we can only allow the funds to be spent by the buyer or seller using the opcode OP_CHECKDATASIG. This opcode is only available using the Bitcoin Cash network and it enhances the decentralization of the Local.Bitcoin.com service. This is a significant technological achievement as the platform provides a way for users to leverage a noncustodial escrow system for the exchange of any product in any country. For instance, two BCH community members have already written some fascinating methodologies on how people can trade on our local market in a Shapeshift-like manner for other digital currencies or for literally anything.
“In general, [Local.Bitcoin.com] could be used for any trade paid with Bitcoin Cash,” BCH proponent Cláudio Gil said on the Honest.cash social network. “The same way you can choose “Cash (in person)”, meaning you will meet in person and pay cash for BCH, you could agree to trade stamps or even potatoes for BCH.”
Check Out the New Peer-to-Peer BCH Matchmaking Service Today
Today is a big achievement for Bitcoin.com and a milestone that will be remembered for quite some time. Launching a peer-to-peer BCH marketplace makes bitcoin cash far more accessible and we hope it inspires free trade that transcends borders and traverses all walks of life. If you want to learn more about Local.Bitcoin.com, visit our frequently asked questions (FAQ) section. There’s also a series of guides that provide step-by-step instructions on how to buy and sell on Local.Bitcoin.com after browsing existing offers. Another guide gives directions on how to stay safe and secure while trading with peers. So if you want a more personal trading experience and the ability to buy and sell bitcoin cash in a noncustodial manner, head to Local.Bitcoin.com and check out what our new peer-to-peer BCH matchmaking service has to offer.
What do you think about Local.Bitcoin.com? Let us know what you think about this subject in the comments section below.
Image credits: Shutterstock, Pixabay, and Local.Bitcoin.com.
The post Bitcoin.com’s Local Bitcoin Cash Marketplace Is Now Open for Trading appeared first on Bitcoin News.
On June 4, Bitcoin.com is gearing up to launch our peer-to-peer trading platform Local.Bitcoin.com. After the exchange was announced, the public were invited to create their accounts and place orders. So far the exchange has seen a huge swarm of interest, with over 4,500 signups to date.
Local.Bitcoin.com Pre Launch Accounts Surpass 4,500
The development team behind Bitcoin.com’s Local.Bitcoin.com exchange has been very busy getting ready for the platform’s grand opening. In about a week’s time, on June 4, the peer-to-peer trading platform will begin to allow trading and people from all around the world can participate. In the buildup to the June 4 launch, anyone can sign up and even create a trade so they’ll be prepared for the big day.
Of the 4,500+ accounts, there’s been 1,445 unique makers created and over the last 24 hours, 239 accounts were added. The over-the-counter (OTC) trading platform has seen signups from people all around the globe, with the most popular regions being the U.S. (21%), Indonesia (5%), India (5%), Philippines (4%), Nigeria (4%), U.K. (4%), Canada (3%), and Zimbabwe (3%). Local.Bitcoin.com is also seeing signups from countries like Australia, Malaysia, Thailand, Russia, and Sweden.
The number of signups throughout the world has been fascinating as it shows that citizens are very interested in the peer-to-peer exchange of BCH. Additionally, accounts can earn extra bitcoin cash by generating a referral code enabling them to earn 20% of the fees for the lifetime of users who sign up through their code.
Spreading Economic Freedom One Trade at a Time
Our pre-launch statistics recorded on May 27 show there are 1,817 offers and 1,284 active offers available. Local.Bitcoin.com has around 402 active users per day and roughly 2,418 users per week as well. At Bitcoin.com, we’re psyched to be able to offer people a place where they can trade freely and most importantly in a noncustodial fashion. We believe that there will be great interest in an OTC trading platform that lets people swap their fiat for sound peer-to-peer electronic cash. At the moment, the most popular offer types of trades include bank transfer (32%), cash in person (15%), Paypal (15%), cash deposit (7%), and “Other.” Alternative choices Local.Bitcoin.com users chose were methods like Western Union, Gift cards, Skrill, Moneygram, Transferwise, and Venmo.
Creating a Local.Bitcoin.com account is simple and only takes a few minutes to complete a profile and initiate a trade. At Bitcoin.com we want open and free trade to flourish and we think that bitcoin cash is going to change the world. Over the last decade, cryptocurrency exchanges have been looted for billions of dollars worth of bitcoins and this is because people have to leave funds in limbo in order to trade regularly. With Local.Bitcoin.com’s peer-to-peer solution, all trades are noncustodial and users have full control over their funds. So if you are just hearing about Local.Bitcoin.com and need step-by-step instructions on how to sign up and create a trade, check out this informative article.
At Bitcoin.com, we’re thrilled to be able to give people the ability to buy and sell bitcoin cash in a way that allows for a far more personal trading experience. If you like what you hear and want to trade fiat for bitcoin cash or vice versa, then sign up for Local.Bitcoin.com today. Additionally, if you have questions or want to give us feedback then check out the dedicated English Telegram channel or Spanish Telegram channel.
What do you think about the new peer-to-peer marketplace Local.Bitcoin.com? Let us know what you think about this subject in the comments section below.
Image credits: Local.Bitcoin.com, Jamie Redman, and Bitcoin.com.
The post Bitcoin.com’s Local Bitcoin Cash Marketplace Gathers Thousands of Pre-Launch Signups appeared first on Bitcoin News.
Taiwanese consumer electronics giant HTC has revealed plans to launch a second-generation model of its blockchain-centric smartphone before the end of 2019. According to HTC’s chief decentralized officer Phil Chen, the development is a bid to boost smartphone sales and expand the company’s blockchain ecosystem. As previously reported, HTC first unveiled plans for its blockchain-focused smartphone, dubbed “Exodus,” in spring 2018, launching the product later that year.
Facebook’s effort to establish a service that provides its users with local news and information is being hindered by a lack of outlets where the company’s technicians can find original reporting.
The service, launched last year, is available in some 400 cities in the United States. But the social…
In this edition of The Daily we feature two countries that want to promote their positions in the cryptocurrency and blockchain world. In the UAE a top banker has stated that keeping up with crypto is crucial to become an international financial hub and in Australia the government is investing in the local industry. Additionally, Coinbase Pro is set to implement changes to trading and fees.
Keeping up With Crypto Is Crucial for UAE
The United Arab Emirates (UAE) Banks Federation has hosted a forum on fintech and crypto assets with the Abu Dhabi Global Market, the institution which launched a regulatory framework for cryptocurrency activities in June 2018. The forum discussed, among other related subjects, how financial regulators and banks can handle regulatory risks in working with crypto businesses.
Abdul Aziz Al-Ghurair, Chairman of the UAE Banks Federation, stated: “Given the rapid emergence of new FinTech such as cryptocurrencies and other crypto assets, it is essential that we develop frameworks and regulations that govern these technologies and developments. With aspirations to become one of the foremost international hubs for finance, we must keep up with the rapid technological changes taking place across the sector. Ensuring a robust monetary and financial market environment is critical to this, and can only be achieved by protecting consumer rights and safeguarding market integrity.”
Australian Government to Support Local Industry
The Australian government has announced the development of a national blockchain roadmap as well as $ 100,000 in funding to help the country’s blockchain industry become a global leader. The promised roadmap is said to focus on a number of policy areas including regulation, skills and capacity building, innovation, investment, and international competitiveness and collaboration. The $ 100,000 in funding will help Australian companies to showcase their service at an industry event in New York in May.
Minister for Industry, Science and Technology Karen Andrews commented: “The national strategy puts us on the front foot in exploring how government and industry can enhance the long-term development of blockchain and its uses. We will work closely with blockchain and technology experts from industry and academia to develop the strategy, as well as with CSIRO’s Data61 [the digital innovation arm of Australia’s national science agency] to incorporate findings from their forthcoming future scenarios report on blockchain.”
Coinbase Pro to Implement Trading Changes
Coinbase Pro will implement a set of changes on Friday, March 22 designed to optimize the “market health” of the platform. The changes include a new fee structure, updated order maximums, smaller order increment (‘tick’) sizes, turning off stop market orders and adding market order protection points. Both Coinbase Pro and Prime will introduce a 10 percent market protection point so any market orders that move the price in excess of that will stop executing and return a partial fill, thus helping to prevent large orders from causing more than 10 percent slippage. The company explained that these changes are designed to increase liquidity, enable better price discovery for trades, and to make price movements smoother, leading to a more efficient market.
What do you think about today’s news tidbits? Share your thoughts in the comments section below.
Images courtesy of Shutterstock.
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 In the Daily: UAE Needs to Keep up With Crypto, Australia to Support Local Blockchain Industry appeared first on Bitcoin News.
The new limit on the state and local tax deduction will hit nearly 11 million taxpayers nationwide this year, according to a report by a Treasury Department inspector general.
It is the government’s first estimate of the effect of capping the popular deduction at $ 10,000, a key and controversial…
The cryptocurrency markets have seen significant volatility over the last 24 hours, with BTC rallying by 7% to test resistance at $ 4,200, before violently crashing approximately 10% back below $ 3,800. BCH has posted comparable volatility, currently trading for $ 135 after rallying above $ 150 for the first time since Jan. 10 earlier today.
BTC Fails to Establish Support at $ 4,000
BTC briefly rallied above $ 4,000 today after gaining more than 4% in one hour. The rally saw BTC test $ 4,200 for the first time since Dec. 2018, before crashing 9% in less than 60 minutes as bulls failed to establish support at $ 4,000. Bitcoin core is currently trading for roughly $ 3,800.
BTC currently has a market cap of $ 67.32 million and a dominance of 52.1%.
BCH Briefly Trades Above $ 150
BCH produced a more steady rally today, gaining 11% in 12 hours to trade above $ 150 for the first time in approximately seven weeks. After support failed to hold at $ 150, BCH shed 15% in less than one hour. Bitcoin cash is currently trading for roughly $ 130.
When measured against BTC, BCH gained 5% in two hours to establish resistance at 0.0375 BTC, before falling 7% in one hour. BCH is currently trading for approximately 0.0345 BTC.
BCH is the sixth largest crypto asset with a market capitalization of $ 2.34 billion and a dominance of 1.85%.
ETH Tests Resistance at 0.04 BTC
Ethereum gained 13% across the course of 12 hours today, breaking above the $ 150 area before posting a local top at $ 170. The gains were short-lived, with ETH crashing 15% in one hour after support at $ 165 failed to hold. Ethereum is currently trading for $ 150.
When measured against BTC, ETH gained 6% in 12 hours to post resistance just below 0.04 BTC, before falling 9% in less than three hours. ETH is trading for 0.0363 BTC as of this writing. Ethereum is the second largest cryptocurrency with a capitalization of $ 14.61 billion and a dominance of 11.52%.
What direction do you expect the crypto markets will trend in during coming days? Share your thoughts in the comments section below!
Images courtesy of Shutterstock, Tradingview
Disclaimer: Price articles and markets updates are intended for informational purposes only and should not to be considered as trading advice. Neither Bitcoin.com nor the author is responsible for any losses or gains, as the ultimate decision to conduct a trade is made by the reader. Always remember that only those in possession of the private keys are in control of the “money.”
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