Facebook Was Arrogant in the Way it Rolled Out Libra Says Ripple CEO

The CEO of Ripple, Brad Garlinghouse has claimed that Ripple signs at least 30 new deals on a weekly basis. While making this known, Garlinghouse, also emphasized on the future prospects of the controversial Facebook Libra, remarking that Facebook’s launch of Libra was an arrogant move by the social media giant.
Ripple On A Development Spree
Brad Garlinghouse, CEO of Ripple while speaking at The Information’s annual subscriber summit, held in Menlo Park, California, on Thursday, disclosed that Ripple was on a development spree and as such, signs about 30 new deals on a weekly basis with financial institutions. According to Brad, the blockchain firm which acts as a bridge between blockchain and traditional banks also owns more than $300 million worth of cash and claimed that Ripple didn’t need to raise any capital.
Brad Is Not Friendly With Libra
Garlinghouse weighed in on the much talked about the launch of Facebook’s Libra. He maintained that Facebook’s approach to launching Libra was rather arrogant. Further emphasizing his stance on the matter, Brad expressed that the regulatory opposition being faced by Libra is a because of its founding company, Facebook. He added that if Libra was introduced by a company like PayPal, it most probably would have passed regulatory scrutiny much earlier.
“I think that the way they approached it demonstrated, frankly, [from] my point of view, arrogance in how they rolled it out,” he said at The Information’s annual subscriber summit. “I think Facebook did not appreciate the trust deficit they had.”
Earlier, Coingape reported that Garlinghouse had predicted that Libra wouldn’t launch until after 3 years. He had stated further project developmental adjustment and regulatory concerns as the reasons for his opinion.
Ripple’s XRP Price Performance In Q3
XRP remains one of the top altcoins within the crypto ecosystem. Maintaining its spot immediately below Ethereum, Ripple stands at the third rank by market capitalization on CoinMarketCap (CMC). The top cryptocurrency began the quarter quite slowly. Hovering around the $0.3 area, XRP has gained about 7% within the past 2 weeks.
At the time of writing this piece, XRP is changing hands at $0.291 per unit. Within a 24-hour time interval, XRP slipped against the USD, losing 1.43% in the process. Its market cap is stable at $12.6 billion and it has traded $1.88 billion in 24 hours.
The post Facebook Was Arrogant in the Way it Rolled Out Libra Says Ripple CEO appeared first on Coingape.
Source: CoinGape

Bitcoin Slowly Forming A Bullish Pattern, Analyst Says $8,800 In View

Bitcoin recently broke the resistance at $8000 and the top cryptocurrency now barely rests above that level. After such a bullish breakthrough, the pace-setter cryptocurrency has continued to maintain a spot above $8k and according to analysis, further bullish pattern is slowly forming and Bitcoin may eventually get a spike to $8,800.
The Bullish BTC Analysis By CryptoWelson
According to cryptocurrency analyst and trader going by the name CryptoWelson on Twitter, there is a bullish possibility which may take the price of Bitcoin to the $8,800 level. The analysis identified a support level close to $8k which must be surpassed in order to continue on the bullish trajectory described by CryptoWelson. According to him, if BTC surpasses that support, then that will initiate a bull channel in which BTC is expected to gain about 10% before the end of the week.

#Bitcoin could be forming a bullish channel. 🤑
If we can bounce from this support, we will be going to 8800$+ this week! 📈
A break below the green line would confirm the bearish scenario! pic.twitter.com/HovkL6B5wB
— CryptoWelson 📊 (@CryptoWelson) October 17, 2019

The Other Side Of The Coin
Although CryptoWelson sounded quite bullish about the short-term price movement of BTC, he also stated a condition that might cause a reversal of the bullish trend. Expressing the possibilities of a bear market in days to come, CryptoWelson predicted that a break below a supposed greenline ($8k level) would confirm the next bearish movement which will send BTC further downwards.
BTC 24-Hour Price Movement
BTC opened a 24-hour trading period at around $7,999.61. BTC slowly climbed the $8k level and maintained its price above the area hitting $8,091 within the next two hours. The momentum only grew as BTC pushed into the $8,100 region at the early hours of Thursday, gaining about 1.5% since yesterday. At the time of writing this piece, BTC is changing hands at $8,105.
Further Analysis On Bitcoin Price
There seems to be a wide bullish sentiment around the price of Bitcoin lately. With many analyses pointing to a bullish possibility in the short term, another bitcoin trader predicts that bitcoin will eventually take off towards $9k. Although the trader, simply known to run a Twitter account under the name Crypto Trading Africa presented a bearish outlook which, if actualised, may see bitcoin losing about 2% from its current price before the run to $9k.

Possible turn out of event on the BTCUSD 1H chart!.. I bet we may retest $7800 before taking off to $9k zone#crypto #altcoins #trading #btc $RVN $XRP pic.twitter.com/KBbFz7LSI9
— Crypto Trading Africa (@Africa_BTC) October 14, 2019

The post Bitcoin Slowly Forming A Bullish Pattern, Analyst Says $8,800 In View appeared first on Coingape.
Source: CoinGape

Kucoin Announces Launch of Monthly Bitcoin Futures Contracts On Its Derivative Exchange KuMEX

The futures platform, KuMEX of popular cryptocurrency exchange, Kucoin has announced its intention to begin operating bitcoin monthly contracts in a few weeks’ time.
KuMEX To Offer Monthly Bitcoin Futures Contracts
According to an update that has gone up on their official twitter account, the futures platform revealed that their founder, Michael Gan, speaking at the blockchain life 2019 event in Moscow, unveiled the information that KuMEX will be launching monthly bitcoin contracts soon.

#KuMEX Bitcoin Monthly Contracts are drawing near!👏
Today at the #Blockchain Life 2019 Forum in #Moscow, our founder Michael @gan_chun disclosed that KuCoin’s Futures Platform KuMEX will be launching Bitcoin Monthly Contracts in a few weeks.#KuCoin #BUIDL pic.twitter.com/VOa0gNxnGY
— KuMEX (@KuMEX_Official) October 16, 2019

Although much of the necessary information related to the highly anticipated monthly bitcoin contracts like the specific date of the launching is not public yet, we expect the platform to update its community as progress is made in the development of the same.
The news comes following an official announcement by Kucoin that the exchange has revised its exchange center. The revision, according to the announcement made major changes to the platform along basic lines like markets, platform display, and trading functionalities like orders and order books.
Bitcoin contracts have become the goose that lays the golden eggs among futures exchanges. Top crypto exchanges like Binance and other platforms like Bakkt recently introduced Bitcoin contracts to their customers. As this is expected to grow in the future, many smaller exchanges are venturing into the same endeavors to gain considerable market share.
KuMEX Initiates Trading Competition
KuMEX, which is the futures subsidiary of top crypto exchange, Kucoin has been in operation for a couple of months now. Since it was launched recently, KuMEX opened the Bitcoin Perpetual Contract (XBTUSDM) and offered up to 20x leverage. As a form of celebrating the kick-off, KuMEX initiated a trading competition in which 10,000 KCS were being offered as rewards for customers according to their return rate ranking. The platform currently supports three types of order: limit order, market order and stop order.
The post Kucoin Announces Launch of Monthly Bitcoin Futures Contracts On Its Derivative Exchange KuMEX appeared first on Coingape.
Source: CoinGape

USA Adds 100+ Bitcoin ATMs in 2 Weeks; Miami International Airport Welcomes Its First Bitcoin ATM

Miami International Airport (MIA) was reported to have welcomed its first bitcoin Automated Teller Machine (ATM). The announcement was made by Bitstop, which is a Miami-based bitcoin technology software company.
Bitstop Installs A Bitcoin ATM At MIA
In an official announcement, Bitstop co-founder and chief strategy officer Doug Carrillo expressed his delight about collaborating with Miami International Airport –
“We are delighted to have this historic transaction with Miami International Airport,” More and more people like it, and Miami International Airport is the perfect place for customers to exchange dollars for Bitcoin when traveling domestically or internationally. ”
PR Global Newswire reported earlier this year that Bitstop was working earnestly to install several bitcoin ATMs at strategic destinations across the United States. The installation of a bitcoin ATM at the Miami International Airport will aid in easier exchange of cash into bitcoin for travelers. The airport has the Bitcoin ATM installed at the central hall G next to Gate 16.
BTC ATM
At the moment, Bitstop has installed 130 bitcoin ATMs across the United States and has a short term vision of installing about 500 bitcoin ATMs worldwide before 2021.
Rising Demand For Bitcoin ATMs
As per statistics on Coin ATM Radar, the United States presently houses more than 3700 bitcoin ATMs of the total 5,756 located in 75 countries across 5 continents.
Recently, Coingape reported a rising demand in bitcoins ATMs. Since then, the number of global bitcoins ATMs installation has increased steadily, bringing the figure to 5756. The report stipulated that an average of 6 bitcoin ATMs are being installed on a daily basis. According to the report,

The total number of crypto ATM’s across the globe stands at 5756
There are 75 countries in the world that house a crypto ATM. The most installations are in USA (3714 locations), followed by Canada (708 locations) while Austria (191 locations) took third place.
There are 51 manufacturers of crypto ATMs across the globe.
There are 555 Bitcoin ATM operators around the globe.

Bitstop ATMs Charge 13.5% Fees
Bitstop’s product is a Bitcoin-focused Automated Teller Machine that provides the services of exchanging cash into bitcoins across the United States. It requires users to register with an ID document or a mobile device for verification. Users, after completing the required verification will scan QR codes for deposits to be made.
It takes only about 3 secs for bitcoin to be bought with Bitstop ATMs, however, the downside of the affair is a 13.5% charge on using such machines. This is significantly higher than the transaction fees charged on bitcoin exchanges. Also, the high transaction fees are a norm across major ATMs which makes them a less favorable option for buying bitcoin.
The post USA Adds 100+ Bitcoin ATMs in 2 Weeks; Miami International Airport Welcomes Its First Bitcoin ATM appeared first on Coingape.
Source: CoinGape

Vitalik Buterin Express Optimism About Ethereum 2.0

The Ethereum Foundation co-founder, Vitalik Buterin has unveiled some facts about Ethereum’s forthcoming 2.0 release and has also weighed in on what the future of Ethereum looks like.
Ethereum Version 2.0 In View
At the Devcon V event in Osaka, Japan, the biggest blockchain development event around the world, well-known Ethereum co-founder, Vitalik Buterin took the advantage to announce the work underway at the Ethereum Foundation focused at launching the much-awaited “Ethereum 2.0.” Although, at the moment, no exact date of launch was stated by either Buterin or any other member of the Ethereum Foundation present at the event, many are speculating that the much anticipated 2.0 launch might come in 2020.
According to Hudson Jameson, pioneering community manager at the Ethereum Foundation, the 2.0 launch, as is the custom of the Foundation does not have a specific launch date. However, he believes the supposed scalable version “Ethereum 2.0” will eventually come to play.
For as long as I’ve been here, I’ve seen us come together… The transition with the ethereum DApps, and all the network today, how they are going to transition into 2.0 is getting more and more clear but just the organizations around it, and the thousands of tokens and Dapps moving into an upgraded blockchain is getting exciting…
Hudson further gave insights about to what the major difficulties they have been facing was and why it is not feasible to peg the launch to any particular time in the future. According to him,
Because we are so distributed, we have to continually come to terms. It’s not like a dictatorship or something… We have to take signals from the community and from those signals make some kind decision.
Community Shows Optimism
The event featured many Ethereum foundation developers and Ethereum-based project personalities discussing their respective expectations with respect to the anticipated 2.0 launch. According to Paul Brody of Global Blockchain leader, EY

“EY is focused on enabling business to business (B2B) transactions… we are also really focused on building the infrastructures that companies need to transact over public and private blockchains…”

What do you think about Ethereum 2.0? Will it live up to the community’s expectations? Will it contribute to the development of more efficient DApps? Share your views with us in the comments below!
The post Vitalik Buterin Express Optimism About Ethereum 2.0 appeared first on Coingape.
Source: CoinGape

Central Bank Currencies Are About to Come; Will Do More Harm Than Good – Dutch Bank ING

According to an article published by Think, the Chief economist  of popular Dutch bank ING, Mark Cliffe, as well as the lead economist for digital finance Teunis Brosens, has said that central bank’s digital currencies are inevitable and may become a reality within the next 5 years. 
A Full-Fledged Central Bank Digital Currency In View
According to Dutch bank ING’s financial and banking experts, it is most likely that a “full-fledged central bank digital currency is coming”.
Amid growing controversy about the role of cryptocurrencies to the future stability of global financial markets, maybe it’s time for central banks to rise to the challenge. We might well see a fully-fledged central bank digital currency emerge within the next five years.
China is a country which may soon see a central bank digital currency as People’s Bank of China prepares to launch it soon. According to a report by TNW Hard Fork, though we might be able to “get rid of hard cash and notes” altogether, this upcoming trend of central banks launching their own digital currencies will do more harm than good to users.
One typical disadvantage is that consumers will totally lose the anonymity involved with the current system of paying with cash. With Central Banks’ controlled digital currencies, transactions will become completely traceable for authorities.
Central Banks Seem Very Close To Achieving A Central Bank Digital Currency
Although no one Central Bank digital currency has been launched at present, officials at Dutch bank ING’s and many other industry players believe it is not impossible to achieve it soon. At the head of the movement is the People’s Bank of China’s decision to launch a digital currency next year. According to several reports, the bank has bolstered efforts to ensure the successful launching of the Central bank digital currency next year. Recently, it was in the news that PBoC began a hiring spree of blockchain professionals in order to help the development process and ensure a successful developmental stage before the launching.
The post Central Bank Currencies Are About to Come; Will Do More Harm Than Good – Dutch Bank ING appeared first on Coingape.
Source: CoinGape

Over 1000 Coins Dead In 8 Years: Long Hash Report

A recent study has revealed how the crypto ecosystem is becoming free from a collection of coins affiliated with projects with little or no business proposition, market traction, and ready products, more commonly known as “shitcoins”. According to the study, more than 1000 cryptocurrencies are now dead!
There Are Top Coins, Shitcoins And Dead Coins
According to a recent report, an average of 1000 cryptocurrencies has become extinct within the crypto ecosystem in 8 years. The publication featured reports from at least 3 other coin rating websites which make use of various collections of metrics to identify the usability and market performances of more than 2600 existing cryptocurrencies and use the results of the same to categorize these coins along the lines of priorities ranging from ” Top” coins to “shitcoins” then to the extreme “dead coins”.
According to the survey,
Cointopsy currently lists 705, DeadCoins lists 1,779, and CoinMarketCap lists over 1,000 projects with less than USD $1,000 per day in trading volume, which certainly puts them in the category of “dying” if not “outright dead.”

The numbers of dead coins within 8 years came to be derived amid varying factors like period of project survival, daily trading volumes of coins and coin popularity. In terms of a period of survival, according to Cointopsy, many dead projects survived only about 12 months. Going by their supposed “start” and “end” date, abandoned projects, those which actually kick-off but eventually lost investor’s interest were reported to last longer. This kind of project, according to the survey lasted for about 18 months. Failed coins last 14 months while scamming coins, 12 months.
Why There Are So Many Dead Coins?
The report lists a series of factors responsible for the death of cryptocurrencies. The most important being “death by abandonment”, other factors include outright scam projects. According to findings, some popular scam projects were perpetrated repeatedly by the same set of scammers presenting a couple of projects.
Source: Longhash
A typical example, according to the survey was to bitcointalk forum members; named “Crunck” and someone named “Daniel Mendoza” is each named as having founded three different dead alleged scam projects on the list (although again, this data is curated from crowd-sourced suggestions and may not be accurate).
The post Over 1000 Coins Dead In 8 Years: Long Hash Report appeared first on Coingape.
Source: CoinGape

BUSD and XRP Transactions Become Easier on Binance As They Get Added to Interoperable Tokens List

Leading cryptocurrency exchange, Binance has announced two more additions to its list of interoperable tokens. According to their official announcement, the exchange has added support for BUSD and XRP, and these will be tradable on the Binance DEX platform.
Binance Adds XRP-BF2 And BUSD
Binance, on Saturday, updated their Twitter handle with this development and also added links to an official publication. As per the publication, the issuance of BEP2 versions of XRP and BUSD on Binance chain will allow users to more freely deposit and withdraw the aforementioned interoperable tokens to their desired networks via the Binance.com web interface.
As an interoperable token, XRP-BF2 co-exists with (XRP) and is pegged to original XRP assets in the ratio of 1:1. The XRP-BF2 are designed to track the true value of the XRP native assets and maintain constant synchronization of value so that traders on Binance DEX can interchange XRP-BF2 for the native XRP assets.
Similarly, BUSD or Binance USD are USD-denominated stablecoins which recently received approval from the New York State Department of Financial Services (NYDFS). They are pegged to the U.S. dollar also in the ratio of 1:1 and are available as ERC-20 and BEP2 tokens.
Other Available Interoperable Tokens
Binance recently upgraded its deposit and withdrawal functions so that its customers could transact with interoperable tokens freely via its web interface. Initially, the upgrade added support for about 11 interoperable tokens, many of which were available as BEP2 and ERC-20. The addition of the BP2-XRP and BUSD bring the figure to about 13 tokens which work with the described upgrade. Among the available interoperable tokens are USDT, PHB, ANKR, BCPT, and CHZ.
The post BUSD and XRP Transactions Become Easier on Binance As They Get Added to Interoperable Tokens List appeared first on Coingape.
Source: CoinGape

Hack Alert: SAFU Wallet is Malicious, Binance Warns Community Members

A third party wallet, SAFU wallet has been found to be malicious and many users of the wallet reportedly have lost their funds. Accordingly, Binance took to Twitter to alert the community of the situation and discourage them from using the wallet.
SAFU Wallet is Not “SAFU”
It appears as SAFU wallet is not “SAFU” (a term widely used to mean “Funds Are Safe”) as a users pointed out that the wallet extension is malicious and is stealing users’ data. Binance updated the community with the information on Twitter Friday morning.

DO NOT USE SAFU WALLEThttps://t.co/5h6aKpoy5R https://t.co/oqNGVxW1T3
— Binance DEX (@Binance_DEX) October 11, 2019

The report comes following a Twitter user’s tweet about the wallet hack which stated that the chrome SAFU wallet extension  was malicious and due to it, funds had been stolen from several customers. He also added a screenshot of SAFU wallet user review which clearly stated that mnemonic keys had been hacked and funds stolen.

Wallet hack alert: DO NOT use and report that Wallet extension. It has stolen already lots of funds by injecting malicious code
⁦⁦@cz_binance⁩ you may want to look at this because it specifically called after your fund.
cc ⁦@rambo1stbld⁩ https://t.co/JSgZQ0ieGA
— Ouriel Ohayon (@OurielOhayon) October 11, 2019

Binance Warns the Community
According to an official announcement by Binance chain forum, users of the wallet were advised to uninstall the SAFU wallet, report any losses and share any information that they thought was useful.

Accordingly, some users of the wallet reported losses as feedback to the announcement. A user revealed that his SAFU wallet had received a little amount of BNB, perhaps for fee, followed by a total transfer of all his funds.
A few other forum members also reported such cases while giving details relating to their loss of funds such as the various addresses to which their funds were sent.
Another Server Issue Needs Fixing At Binance
Amid talks and concerns of security issues, Binance CEO, Changpeng Zhao, updated his Twitter handle to also inform the community about an ongoing ” server issue” which he said was affecting all withdrawals.  According to CZ, the issue may take roughly two hours to fix and assured everyone that they knew exactly how to fix it.

We have a server issue affecting ALL withdrawals. May take 1-2 hours (rough estimate) to fix. We are aware of the exact issue and how to fix it. Still working on a more accurate ETA. Will keep you posted. Apologies for the inconvenience.
Trading is not affected. Funds are #SAFU
— CZ Binance (@cz_binance) October 11, 2019

The post Hack Alert: SAFU Wallet is Malicious, Binance Warns Community Members appeared first on Coingape.
Source: CoinGape

Coinbase Launches A mobile Platform For It’s Coinbase Pro Users

Popular digital currency exchange, Coinbase is said to be building mobile applications for its coinbase pro users. At the moment, iOS version of the app is available for download while the android version is said to under development, soon to be made downloadable.
Coinbase Develops Mobile Apps For PRO users
According to the report today by the digital currency exchange, Coinbase, the mobile app is exclusive to Coinbase Pro users using the platform professionally while the primary Coinbase.com interface remains as simple and easily navigated as possible for the larger population of users.
The Pro app described is said to have individual pair pages from which customers can get real-time price update, live charts, order books and active orders, trade history and users can also set a buy or sell order.
“Unlike traditional capital markets, crypto trades 24/7. Opportunities to buy and sell present themselves at all hours of the day. This means it’s critical for the sophisticated crypto traders that Coinbase Pro serves to have access to the tools and information they need to capitalize on these moments when and where they need it.”
Aside from the pair pages, there also exist tabs in which users can access their portfolio of crypto assets and also see their equivalent values in fiat currencies. As all fiat withdrawals remain tied to the main Coinbase website, it is possible for Pro app users to make direct deposits and withdrawals from their mobile application.
Coinbase Developing A Synergy To Rate Cryptos
Coinbase is a leading digital currency exchange that broker exchanges for cryptocurrencies like bitcoin, ethereum, bitcoin cash, ethereum classic, and litecoin with fiat currencies with a global reach of about 32 countries. Recently, Coingape reported that Coinbase and other crypto big names are collaborating to develop a crypto rating system that will be used to classify cryptocurrencies as being securities or not. According to the report, Other crypto platforms and companies identified to be involved in this innovation are Anchorage, Bittrex, Circle, DRW Cumberland, Genesis, Grayscale, and Kraken. These crypto “big boys” are forming a Crypto Rating Council in order to better decide which digital assets can and cannot be traded on their platforms.
The post Coinbase Launches A mobile Platform For It’s Coinbase Pro Users appeared first on Coingape.
Source: CoinGape

Bitcoin [BTC] Is Not Peer-to-Peer At All Says Craig Wright

Self-acclaimed bitcoin creator, Craig Wright has made the headlines again. This time, he digs into the supposed original bitcoin whitepaper in order to point out critical points of deviation between BTC and the underlying technological propositions. According to Craig, BTC does not exist totally as a P2P microtransactions system.
BTC Does Not Follow The Original Bitcoin Whitepaper
Craig Wright, in a document published recently, explained how BTC makes a point of deviation from the initial bitcoin whitepaper in terms of payment validation and how he had used BitcoinSV (BSV) to actualize the real technological propositions of the bitcoin whitepaper. The self-acclaimed Satoshi Nakamoto maintained that BTC, alongside other derivative systems that forked out of Bitcoin are not peer-to-peer at all.
The truth of the matter is, nobody realised how simple SPV could be. It is critical because you cannot scale the blockchain without SPV, and more importantly, SPV is the peer aspect of Bitcoin. Right now, derivative systems that have forked away from Bitcoin, such as BTC, are not peer-to-peer at all.
Explaining The “Simplified Payment Verification”
Further explaining his points of view, Craig talked about a “Simplified Payment Verification” (SPV), which he said was a critical aspect of scaling bitcoin. According to Craig, the Simplified Payment Verification, SPV allows for transacting parties to connect directly while verifying the deal over a distributed network of miners or nodes. Further explaining the method, he maintained that no single node needs to be trusted. This is what makes the system different from others and this is where he thinks that BTC goes against the actual bitcoin whitepaper.
The SPV model
Making further specifications on the actual reason for bitcoin’s existence, Craig emphasized on the fact that bitcoin was designed to deal with issues of the fraudulent flow of money and its miners should act within the law. According to Craig, the honesty of bitcoin’s network directly relates to conventional government laws such as the U.K.’s Fraud Act 2006.
The myth that Bitcoin acts outside the law has been propagated by those seeking to create criminal systems, but it is a false and malicious lie and one that is easily discredited.
According to him, Bitcoin was never meant to exist outside the system. If governments and regulators recognized the true design of Bitcoin, they would understand that Bitcoin is meant to work in accordance with the law by assisting in the traceability of transactions and being able to immutably record money laundering and crimes.
What do you think of the self-acclaimed Satoshi’s take on Bitcoin whitepaper and BTC as it exists today? Do you think he is right in saying that BTC is not peer-to-peer? Share your views with us in the comments below!
The post Bitcoin [BTC] Is Not Peer-to-Peer At All Says Craig Wright appeared first on Coingape.
Source: CoinGape

Alipay Denounces Bitcoin Transactions After Binance Adds it into its Fiat Gateway

Chinese online payment platform, Alipay has been reported to decline transactions related to bitcoin and any other cryptocurrency. This was made official by the organization when it updated its official Twitter handle with the information.
Alipay Declines Bitcoin Transactions
According to Alipay’s Twitter post on Thursday, if any transaction relates to either bitcoin or any other cryptocurrency, the giant Chinese online payment system would immediately stop the relevant payment services.
Preceding this confirmation was the fact that Alipay does not support any form of crypto transactions on its platform. It made this known after revealing that it received several reports that the platform supported bitcoin transactions.

If any transactions are identified as being related to bitcoin or other virtual currencies, @Alipay immediately stops the relevant payment services.
— Alipay (@Alipay) October 10, 2019

The Chinese online payment platform, Alipay was also said to have been banning accounts involved in Bitcoin OTC trading. A certain Twitter user had posted this on Twitter in August last year.

#alipay is blocking accounts involved in bitcoin otc trading. pic.twitter.com/7cuATHWReq
— Red Li (@redtheminer) August 24, 2018

Alipay is a Chinese intermediary online payment platform which was started in February 2004. Based in Hangzhou, the popular Chinese organization overtook PayPal as the world’s largest mobile payment platform in 2013. The platform boasts of about 900 million customers.
Binance Recently Added Alipay Fiat Gateway
This news comes amid a recent report that popular cryptocurrency exchange, Binance added Alipay and WeChat to its fiat gateway. According to a report by Coingape on Wednesday, the integration will allow Binance users to deposit fiat into the exchange using Alipay or WeChat. This was publicly announced on Twitter by a user who asked for an official confirmation regarding this update, tagging Binance CEO, Changpeng Zhao, CZ in the process. CZ responded to the inquiry by tweeting “YES”, thereby confirming that AliPay andWeChat had been added to Binance’s fiat gateway.

NO, you cannot. https://t.co/J0YMTz3FZW
— Alipay (@Alipay) October 10, 2019

Moving forward, Alipay seems to have a role to play in the adoption of China’s underway cryptocurrency. Platforms like Alipay, Tencent and WeChat have been listed among the payment platforms where it will be possible to use the yet-to-be-launched digital currency from the People’s Bank of China.
The post Alipay Denounces Bitcoin Transactions After Binance Adds it into its Fiat Gateway appeared first on Coingape.
Source: CoinGape

Binance Coin [BNB] Gets a 9% Boost as it Enters Latin America with a New Collaboration

Binance’s native cryptocurrency, Binance coin (BNB) has surged up the charts by 6% within the past 24 hours. This price surge comes after Binance announces a collaboration with Airtm, a Mexico-based company, a company offering an e-wallet that is connected to over 300 bank and e-money systems in a P2P network.
Binance Coin [BNB] Up by 9%
According to stats on CoinMarketCap, BNB has gained over $1 against the USD, climbing the ladder by 9%. The cryptocurrency began an upward movement on the 7th of October when it broke through the long-held $15 mark. In accordance with the uptrend, BNB further gained against USD, rising up to the $17 region on Wednesday morning. At the moment, BNB is hovering around the $17.30 mark and further excitement around recent developments at Binance could act as a catalyst for further growth.
Chart Source: TradingView
The price rise, as mentioned earlier, comes amid several underway developments at Binance. Most recently, it announced its collaboration with Airtm which will enable millions of people across the Latin America region to use BNB for payments. Also, Binance recently launched p2p trading for BTC, ETH, and USDT against the Chinese Yuan.
Binance-Airtm Collaboration, A Win-Win Situation.
Airtm is an e-wallet provider that has a connection with over 300 banks and e-money systems through a peer-to-peer(P2P) network and direct bank connections. Users of the wallet keep their money in dollars or cryptocurrency and are able to send and receive funds domestically and internationally. Among the cryptocurrencies now accepted by the wallet is BNB and this exposes the cryptocurrency to adoption from millions of Latin Americans. Founded in 2015, Airtm exists across the globe in regions like Singapore and is headquartered in Mexico and San Francisco.
Source: Twitter
Binance adds this new collaboration to the numerous developments ongoing at the crypto exchange platform. Coingape reported on Wednesday that Binance announced the launching of its P2P trading and developed an Android mobile app to facilitate the function. This is one of the many important developments that Binance has achieved within a short period of time.
The post Binance Coin [BNB] Gets a 9% Boost as it Enters Latin America with a New Collaboration appeared first on Coingape.
Source: CoinGape

Binance Touches Another Milestone, Launches P2P Trading

Leading cryptocurrency exchange, Binance, has launched a peer-to-peer (P2P) trading function on its spot trading platform. The newly developed P2P system which is yet exclusive to China’s fiat currency will enable Binance users to exchange BTC, ETH, and USDT against the Chinese Yuan.
In an official announcement, Binance noted that access to P2P trading will be initially provided to Android users (Version: 1.12.1) that have Binance accounts registered for over 30 days. The crypto exchange, therefore, has urged its customers to update their mobile devices with the latest Binance mobile application in order to enable the new function.
As Binance ended the official announcement with an appreciation for their support, it also promised its customers that the described P2P trading function will be available on iOS and web interfaces in the long run.
What is P2P Trading?
P2P(also known as peer-to-peer) trading is a trading style in which two parties interact or trade directly with each other. In this case, parties directly engage with one another to buy or sell cryptocurrency. This form of trading requires buyers and sellers to sign up on a website (also known as a P2P exchange, P2P marketplace or a P2P platform) and advertise to buy or sell their preferred cryptocurrencies at a specific price, or within a certain price range, in a predefined location.
Binance As A Pace-Setter Crypto Exchange
Binance recently began a development spree and has accomplished quite a lot within a very short time. Between the second and third quarters of this year, the crypto exchange launched platforms for staking, lending, and futures contracts. It also made significant expansions to many other regions by developing subsidiaries like Binance U.S.
Coingape recently reported that Binance released a mobile application, also an android version for its respective staking and lending platforms. At that time, the report also indicated that Binance added support for Koinal, an integration which allows Binance users to buy crypto directly with their credit cards.
The post Binance Touches Another Milestone, Launches P2P Trading appeared first on Coingape.
Source: CoinGape

OKEx Outranks BitMEX In Futures Trading Volume, Secures Top Spot

Well known crypto exchange, OKEx which was recently accused of wash trading and reporting fake trading volumes has now been ranked 1st in a supposed “Top Futures Exchange By Trading Volume” rankings seen on platforms like Coingecko and Bloomberg.
OKEx Comes First On Bloomberg’s Futures Exchange List
According to the Bloomberg list tagged “cryptocurrency league table” which ranked Futures crypto exchanges according to an increasing order of their respective trading volumes, OKEx was placed in the first place with a corresponding daily trading volume of $2.8 billion.
The list immediately placed BitMEX behind OKEx with a daily trading volume of $2.6 billion while Huobi DM falls in third place, recording a daily trading volume of $2.3 billion. Behind Huobi DM was Bybit with an estimated $953 million of daily trading volume in the fourth rank while CoinFlex, which recently announced physical delivery of Libra futures was in the fifth position with a recorded trading volume of $485 million.

Thank you for featuring us as the top futures exchange and we will continue building the industry. pic.twitter.com/PcjFf985Gd
— OKEx (@OKEx) October 8, 2019

OKEx Recently Featured In A Fake Volume Saga
The news comes following a fake volume allegation made by Blockchain Transparency Institute (BTI) in which OKEx, alongside other exchanges, was highly implicated. At the time, OKEx was said to be among exchanges with over 99.7% of their volume made up by wash trading. OKEx’s Head of Operations Andy Cheung has denied the allegations and condemned the report on Twitter.
In a later report by BTI which revealed how fake volume report on OKEx had greatly improved within a matter of days, OKEx COO, Andy Cheung, maintained that his crypto exchange platform, Okex, was not involved in and does not tolerate any trading behaviors relating to wash trading from customers. He, therefore, demanded an apology from BTI to resolve the issue.

We are NOT involved in and do NOT tolerate any wash trading activities at @OKEx. The @BTI___ surveillance report is FALSE.
— Andy Cheung (OKEx) (@AndyC0125) September 23, 2019

Recent Developments At OKEx
According to a recent report by Coingape, OKEx in its desire to make crypto exchanges self-regulated, revealed its plans of forming a “Self-Regulated Organization” (SRO). According to plans, the organization will be responsible for standardizing exchange practices and policies. The Chief Operation Officer of OKEx said,
“Cryptocurrencies are global and decentralized, and the industry remains nascent, thus regulations by jurisdiction are not enough,” said Andy Cheung, Head of Operations for OKEx. “The only way for exchanges to grow and deliver impact is by joining together to develop practices and policies that will set a global standard and adapt to regional regulatory frameworks.”
The post OKEx Outranks BitMEX In Futures Trading Volume, Secures Top Spot appeared first on Coingape.
Source: CoinGape