PR: LendaBit.com Launches Excellent P2P Service for Unverified Borrowers

PR: LendaBit.com Launches Excellent P2P Service for Unverified Borrowers

This is a paid press release, which contains forward looking statements, and should be treated as advertising or promotional material. Bitcoin.com is not responsible for or liable for any content, accuracy or quality within the press release. LendaBit.com, one of the fastest-growing P2P lending platforms, is pleased to announce the launch of a new special service campaign aimed at further loan liberalization for unverified platform users. From now on, all registered platform users are able to take crypto loans up to 300 USDT on a daily basis, where the borrowing fee accounts for 1% – no verification required! Body This new service extension has been made available to get convinced those in doubt of platform’s sustainability performance and growth, thus demonstrating that contemporary P2P lending services are super-fast, transparent and with no hidden fees. In fact, it is one of the company’s core business development strategies targeted at further expansion of crypto lending services and popularization of the Bitcoin legacy. “The world of the blockchain and crypto industry is a lot bigger and more perspective than the world of fiat or conventional banking sector. Crypto-secured loans allow for a more convenient and transparent way of lending/borrowing, thus establishing such an environment where all participants’ demands are met. LendaBit.com has timely spotted a vacant niche in the ever-growing crypto market and set a goal to make the lending services and loan application process accessible and affordable to all interested parties,” says Deniss Moscenko, CEO at LendaBit.com. The benefits of P2P lending and borrowing offered by LendaBit.com are obvious and undisputed. Firstly, very low system fees, the best Affiliate program with great rewards and competitive annual interest rates (from 8% to 12%). Secondly, all cryptocurrencies lent on the platform are safely secured by collateral, hence no loan defaults for lenders. Thirdly, all cryptocurrency wallets support multi-signature functionality for ultra-safe and secure cold storage of pledged collateral. Fourthly, LendaBit.com has a friendly and attentive Customer Care Team available 7 days a week, the representatives of which will gladly answer any questions and provide due assistance. Lastly, deployment of AI technologies and next-generation platform architecture make the use of platform services user-friendly and short-cycled. Boilerplate LendaBit.com was launched in early 2018 and has its headquarters in Hong Kong. Among…

Bitfinex Recovers $106,000 of Stolen BTC With US Government Help

Bitfinex Recovers $106,000 of Stolen BTC With US Government Help

Bitfinex has recovered 27.7 bitcoin stolen by hackers in August 2016, the company said on Monday. The coins, worth around $106,000 at the time of writing, represent only a small fraction of the total BTC stolen. U.S. federal law enforcement agencies recovered the bitcoin and returned it to the cryptocurrency exchange. Also read: State Treasurer: Ohio Companies Now Paying Tax in BTC Recovered BTC to Be Distributed in Cash to Customers In 2016, Bitfinex hackers made off with 120,000 BTC, valued at about $72 million at the time, in one of the biggest ever thefts from a cryptocurrency exchange. Bitfinex said in statement that it will return the recovered bitcoin to more than 5,000 victims of the heist in cash. The exchange, the world’s 17th largest, with trading volume of $443 million in the last 24 hours, said it will convert the returned BTC to dollars before distributing the money to its customers. The exchange detailed how it had worked with unnamed law enforcement agencies from the U.S. and Europe, according to a Reuters report, “to provide intelligence and assist with investigations.” In November, the U.S. government notified the British Virgin Islands-registered Bitfinex of the recovery of the stolen bitcoin. Giancarlo Devasini, chief financial officer at Bitfinex, stated: Over two years following the hack of the Bitfinex platform, today we see the results of a clear and robust response strategy and the efforts of the U.S. government. It gives us great pleasure to be able to reimburse our traders that were loyal to us and believed in us at a very difficult time. We would like to thank U.S. federal law enforcement agencies for their ongoing efforts to investigate the security breach and their commitment to seizing and returning stolen assets. Bitfinex to Continue to Work With Law Enforcement Agencies According to U.S.-based cyber security firm Cipher Trace, hackers stole a total $950 million from exchanges and cryptocurrency wallets last year. Japan’s Coincheck has suffered the biggest theft yet, with $530 million worth of the NEM cryptocurrency stolen in January 2018. Hackers also pilfered hundreds of millions of dollars from Mt. Gox in 2014, another Japanese trading platform. The U.S. government recovery and return of a fraction of the Bitfinex coins is thus seen as…

Bitcoin, Ethereum, Ripple, EOS, Litecoin, Bitcoin Cash, Stellar, Tron, Binance Coin, Cardano: Price Analysis, Feb. 25

Bitcoin, Ethereum, Ripple, EOS, Litecoin, Bitcoin Cash, Stellar, Tron, Binance Coin, Cardano: Price Analysis, Feb. 25

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk, you should conduct your own research when making a decision. Market data is provided by the HitBTC exchange. A bottom formation after a long bear market is not a linear process. At various intervals, we are likely to witness spurts of buying and selling as the bulls and the bears attempt to establish their supremacy. After a smart recovery from the lows, when it looked like the bears had surrendered, came the plunge on Feb. 24, that wiped off about $15 billion from the total market capitalization within a few minutes. Such selling is not always based on fundamental news or events. Technical factors like profit booking near a stiff resistance and initiation of short positions by aggressive bears can bring about such a sharp fall. While we expect volatility in the bottoming process, we are keeping our focus on the positive fundamental developments. The longer the markets disregard the fundamentals, the stronger the eventual breakout will be. After Venezuela, now Russia plans to launch an oil-backed cryptocurrency. OPEC along with Russia are exploring options for settling their energy dealings in crypto instead of Petrodollars. If this happens, it will give a big boost to crypto markets. When a head of state endorses blockchain technology and recommends it to the leaders of other nations, it shows that the time of this technology has come. BTC/USD The recovery in Bitcoin (BTC) that started from $3,355 could not scale above the critical resistance of $4,255. The bears swung into action on Feb. 25 and pushed the price back down to the 20-day EMA. The downtrend line, which had previously acted as a stiff resistance, should act as a strong support now. If the price bounces from current levels, the bulls will again try to break out of $4,255. If successful, it will indicate a double bottom formation that has a pattern target of $5,273.91. The traders can protect their long positions with a stop loss just below $3,236.09. Contrary to our assumption, if the bears sink the BTC/USD pair below the downtrend line, it can again correct to $3,355.…

2 Crypto Startups Want to Put 10 Million Used Cars on a Blockchain

2 Crypto Startups Want to Put 10 Million Used Cars on a Blockchain

Cryptocurrency non-profit, the Fusion Foundation, and the Automotive eXchange Platform (AXP) are joining forces to bring the U.S. second-hand car market and its insurance and financing to a blockchain. The first step in the partnership, according to a Monday announcement, is to integrate Fusion’s blockchain platform and digitize AXP’s current database of 10.5 million automobiles, so they can be properly tracked and audited. The auto industry has long struggled with a lack of transparency and widespread information inaccuracies from titles all the way through financing, said Max Kane CEO and co-founder of AXP, adding, “There’s a million vehicles on the road that have ‘washed’ titles, which means there is fraud there. The insurance industry is hit with billions in fraud because of missing information, drivers providing the wrong information and inaccurate reporting.” The AXP network encompasses some 25,000 independent car dealers across the U.S. and this extends to relationships with counterparties in finance and loan origination, Kane said. John Liu, chief product officer at the Singapore-based Fusion Foundation, said the pilot, which is now underway, could be extended to state-based government agencies and the Department of Motor Vehicles (DMV). The system, which will go live by the first half of this year is expected to handle $60m–$100m of car financing loans, he said. Fusion is known for having raised over $40 million in an oversubscribed token sale a year ago (many investors were turned away and the sale had to be stopped after 24 hours). The firm has ambitious goals when it comes to tokenizing assets, having previously partnered with firms involved in asset management and car financing – opening up a potential $12.3 billion in assets, Reuters reported. Fusion’s founder, DJ Qian, said the blockchain his company has built was inspired by ethereum and will have both public and permissioned components. “We didn’t want to reinvent the wheel,” he said. Lui added that “spinning up a node will be as easy as in something like bitcoin or ethereum,” but said only a select group of validators will be running such nodes to begin with. He continued: “We don’t need the government or dealers to worry about running a node yet. We want them to use an application that they are familiar with. The number of nodes will be…

Hong Kong Crypto Exchange Coinsuper Shifts Focus to Institutional Investors

Hong Kong Crypto Exchange Coinsuper Shifts Focus to Institutional Investors

Hong Kong-based cryptocurrency exchange Coinsuper is reportedly shifting its focus from retail traders to institutional investors. This is the latest example of how regulations and trading volumes moving to OTC platforms are impacting the business strategies of crypto exchanges. Also Read: University of Michigan Endowment Backs Crypto Venture Capital Fund Coinsuper Exchange Pivots Focus Coinsuper, a Hong Kong-based cryptocurrency exchange which claims to have one million registered users, is reportedly refocusing its business on attracting and serving institutional investors. The company’s engineers in mainland China are said to be re-tailoring the platform to fit institutional clients’ needs such as portfolio management and compliance with reporting requirements. Management also hopes to be granted a license by the Hong Kong Securities and Futures Commission (SFC) following its “sandbox” period. “Institutional clients are mindful of security breaches and we have learned a lot from the market. If our infrastructure is steady and robust, we would naturally entice trading volume. We are not worried about declines in trading volume too much,” Karen Chen Qing, CEO of Coinsuper, told the South China Morning Post. She also explained that in comparison to retail traders professional investors have more knowledge and financial capability to bear the volatility of trading virtual assets. Market Shifting to Institutional Investors The institutional sector has attracted the attention of cryptocurrency trading venues more and more as retail spot volumes declined due to the persistent bear market. Many exchanges have adapted by launching over-the-counter (OTC) desks and other services dedicated to big players. Regulations also play a part in driving businesses to the institutional market, especially for ventures located in Hong Kong such as Coinsuper. In November 2018, the SFC introduced new rules which many observers predicted would limit cryptocurrency trading to institutional investors. Portfolio managers and funds that plan to invest more than 10 percent of their portfolios in virtual assets are required to obtain a license which means only qualified institutional investors with at least HK$8 million ($1 million) will be allowed to invest in virtual asset portfolios. What do you think about cryptocurrency exchanges shifting focus to institutional investors? 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…

XRP will soon be available to trade on Coinbase Pro

XRP will soon be available to trade on Coinbase Pro

Support for XRP will initially be available for Coinbase Pro users in the US (excluding NY), UK, supported European Union member nations, Canada, Singapore, and Australia. Additional jurisdictions may be added at a later date. After 10am on February 25, 2019 we will begin accepting inbound transfers of XRP to Coinbase Pro. We will accept deposits for a minimum of 12 hours prior to enabling full trading. Please note that inbound transfers require the specification of an XRP destination tag. Once sufficient supply of XRP is established on the platform, trading on the XRP/USD, XRP/EUR, and XRP/BTC order books will start in phases, beginning with post-only mode and proceeding to full trading should our metrics for a healthy market be met. XRP trading will initially be accessible for Coinbase Pro users in the US (excluding NY), UK, supported European Union member nations, Canada, Singapore, and Australia. Additional jurisdictions may be added at a later date. XRP is the cryptocurrency used by the XRP ledger, which supports international currency exchange and remittances. The ledger is powered by a network of peer-to-peer servers. All accounts on this network can send or receive XRP to/from each other, while XRP can be used to send underlying fiat currencies between two parties. In this way, XRP can function as a bridge currency in transactions involving different currencies such as US dollars, Japanese yen, Euros, Francs, and others in use on the XRP network. Please also note that XRP is not yet available on Coinbase.com or via our mobile apps. We will make a separate announcement when that occurs. The Stages of the XRP Launch There will be four stages to the launch as outlined below. We will follow each of these stages independently for each new order book. If at any point one of the new order books does not meet our assessment for a healthy and orderly market, we may keep the book in one state for a longer period of time, or suspend trading as per our Trading Rules. We will send tweets from our Coinbase Pro Twitter account as each order book moves through the following phases: Transfer-only. Starting after 10am PT on Feb. 25, customers will be able to transfer XRP into their Coinbase Pro account.…

Coinbase Pro Adds Support for XRP

Coinbase Pro Adds Support for XRP

Coinbase Pro, the professional offering of United States-based crypto trading platform and wallet service Coinbase, is adding support for Ripple’s XRP token. Coinbase announced the development in an official blog post on Feb. 25. Per the announcement Coinbase Pro will now accept deposits of XRP for a minimum of 12 hours before enabling full trading. Coinbase notes that it will first establish sufficient liquidity on the platform, opening trading pairs in U.S. dollars, euro and Bitcoin (BTC) in phases. Full trading of XRP will be available to customers in the U.S., Canada, the European Union, the United Kingdom, Singapore and Australia. Coinbase may expand its services to other countries at a later time. XRP trading will go through four stages, which include “transfer-only,” “post-only,” “limit-only,” and “full trading. The first two stages will enable users to transfer XRP to Coinbase Pro accounts and post limit orders, the subsequent two will allow customers to match limit orders and fully trade with XRP. Over the past several months, Coinbase Pro has been actively expanding its catalogue of tokens supported on the platform. In August 2018, it added support for Ethereum Classic (ETC), followed the the Basic Attention Token (BAT) and privacy oriented altcoin Zcash (ZEC) in November. Support for the aforementioned tokens was later expanded to Coinbase’s retail platform Coinbase.com and its mobile app. The addition of XRP to Coinbase has been long-awaited by the crypto community. In January 2018, Coinbase CEO Brian Armstrong quashed rumors that the exchange was added support for XRP in the short term. Following Armstrong’s announcement, the market value of XRP crashed from from over $148 billion to $126 billion. At press time, the token is trading at $0.338, up over 11 percent on the day and 5.4 percent on the week according to data from CoinMarketCap.

Coinbase Exchange Users Can Buy and Sell XRP Starting Tomorrow

Coinbase Exchange Users Can Buy and Sell XRP Starting Tomorrow

Crypto exchange Coinbase is launching support for XRP, the third-largest cryptocurrency by market capitalization. The exchange announced Monday it would be listing XRP on its professional trading platform, Coinbase Pro, in “transfer-only” mode, meaning customers can only deposit tokens to begin with. After a minimum of 12 hours, the company plans to activate other trading services, though this timeline is variable. Initially, Coinbase Pro customers in the U.S. (excluding New York state), the UK, some EU nations, Canada, Singapore and Australia will be able to access XRP, with support for other jurisdictions possibly being added in the future. While no firm timeline for launching support on Coinbase’s retail platforms (coinbase.com, as well as its Android and iOS apps) was given, the exchange typically launches cryptocurrencies for its non-professional users within a few weeks of launching support on Coinbase Pro. “The [XRP] ledger is powered by a network of peer-to-peer servers. All accounts on this network can send or receive XRP to/from each other, while XRP can be used to send underlying fiat currencies between two parties,” a Coinbase blog post said, adding: “In this way, XRP can function as a bridge currency in transactions involving different currencies such as US dollars, Japanese yen, Euros, Francs, and others in use on the XRP network.” An individual familiar with Coinbase’s internal decision-making process said the company “is prepared to support the asset however it’s classified by regulators,” referring to the open question of whether XRP qualifies as a security. Ripple Labs, its subsidiary XRP II and a number of individuals affiliated with the XRP cryptocurrency are currently defendants in a federal class-action lawsuit alleging that XRP is a security issued by the payments startup, a claim that Ripple has denied. Brian Armstrong onstage at Techcrunch Disrupt London in 2014 interviewed by Alex Wilhelm. 

Warren Buffett: Bitcoin Is a Delusion That Attracts Charlatans

Warren Buffett: Bitcoin Is a Delusion That Attracts Charlatans

Berkshire Hathaway CEO Warren Buffett defined Bitcoin (BTC) as a delusion and said that it attracts charlatans, according to an interview with CNBC published on Feb. 25. Buffet, a known Bitcoin critic, has previously said that buying Bitcoin as an investment is a gamble, and that no one know exactly what the top cryptocurrency is. When asked if he changed his mind concerning Bitcoin in the CNBC interview, Buffett answered saying that he did not, and that “it is a delusion, basically.” During the conversation, he also pointed out that Bitcoin has no unique value at all, since “blockchain does not depend on Bitcoin” and it does not produce anything. Buffet further explained: “You can stare at it all day, and no little Bitcoins come out or anything like that. It’s a delusion, basically.” However, Buffett did add: “who knows where we will be next year,” followed by comments on his empathy for people who thought investing in Bitcoin was going to change their lives. As Cointelegraph reported in May of last year, Buffett also said at the annual meeting of his company, Berkshire Hathaway, that cryptocurrencies will come to a bad ending, claiming infamously that Bitcoin is “probably rat poison squared.” Berkshire Hathaway vice chairman Charlie Munger has also weighed in on Bitcoin, commenting on Buffett’s criticism to crypto with his own negative opinion of the crypto market: “Someone else is trading turds and you decide I can’t be left out.” In October 2018, Berkshire Hathaway invested around $600 million in two fintech payment firms focused on emerging markets. Last year, a self-proclaimed disciple of both Buffett and Munger, Chamath Palihapitiya, noted he believed that the two skeptics were wrong about the leading crypto, stating that “technology is not in [Buffet’s] circle of competence.”

Warren Buffet: Bitcoin Is a ‘Delusion’ But Blockchain Is ‘Ingenious’

Warren Buffet: Bitcoin Is a ‘Delusion’ But Blockchain Is ‘Ingenious’

Billionaire investor Warren Buffett thinks blockchain technology “is important,” but remains far less bullish on bitcoin. Speaking to CNBC’s Becky Quick, the chairman and CEO of the multinational conglomerate Berkshire Hathaway reiterated his long-held views on bitcoin, calling the way some people perceive the cryptocurrency “a delusion.” “It’s ingenious and blockchain is important but bitcoin has no unique value at all,” Buffett said. “It doesn’t produce anything, you can stare at it all day and no little bitcoins come out or anything like that.” Acknowledging that bitcoin and blockchain were explained to him by others, Buffett added: “People get their hopes up that something like that is going to change their lives, and it’s a very ingenious thing to figure out how to have a limited supply and make it harder and more expensive to create them as you go along and all that sort of thing but it doesn’t, the function … blockchain does not depend on [bitcoin].” He did not elaborate on why he sees blockchain as being important. Buffett did, however, note that JPMorgan Chase is launching its own dollar-pegged cryptocurrency, the JPM Coin. It is unclear how the so-called Sage of Omaha feels about this particular use case. Like Buffett, JPMorgan CEO Jamie Dimon has long been a bitcoin detractor, famously calling it a “fraud” in 2017 (though he later said he regretted the comment, despite continued reservations). ‘Rat poison squared’ Buffett’s views on bitcoin are well-known: as far back as 2014, he was warning investors to avoid the cryptocurrency. Last May, he referred to bitcoin as “rat poison squared,” noting that it was a “nonproductive asset” during the annual Berkshire shareholder meeting. Bitcoin’s price is dependent on individuals wanting to pay more for each coin than was previously paid, he said. Similarly, he predicted that bitcoin would come to “a bad ending” in January 2018, and emphasized that Berkshire would not hold a position in bitcoin futures. Warren Buffett image via Krista Kennell / Shutterstock