The Bitcoin Examiner https://thebitcoinexaminer.com Bitcoin & Crypto Breaking News Fri, 27 Mar 2020 10:48:20 +0000 en-US hourly 1 https://wordpress.org/?v=5.3.2 https://thebitcoinexaminer.com/wp-content/uploads/2020/01/cropped-bitcoin-2730220_1280-2-32x32.jpg The Bitcoin Examiner https://thebitcoinexaminer.com 32 32 10 Ways to Earn Cryptocurrency in 2020 https://thebitcoinexaminer.com/2020/03/27/10-ways-to-earn-cryptocurrency-in-2020/ Fri, 27 Mar 2020 10:48:20 +0000 https://thebitcoinexaminer.com/2020/03/27/10-ways-to-earn-cryptocurrency-in-2020/

There are a number of ways that individuals can earn Bitcoin online. Unfortunately, just as in real life, there is no such thing as a free lunch. Any way of earning Bitcoin online will require something in exchange, whether it’s your time or your knowledge or your computer’s processing power.

Some of the methods outlined below will involve minimal effort but will also result in minimal returns. Other means of earning Bitcoin online may be more lucrative but they will require you to have a certain level of knowledge and expertise about the industry and the market.

Therefore, although it may appear to some that Bitcoin, and cryptocurrency in general, is an easy way to make money, it is not as easy as some might expect without the requisite knowledge (a principle that can unsurprisingly be applied to any industry).

However, should you be interested in earning Bitcoin online it may be worth considering some of the below options, ranging from the least difficult (and least paid!) to the more substantial roles available in the Bitcoin ecosystem.

Coinbase Earn

Probably the easiest way right now to earn some free cryptocurrency is to take advantage of Coinbase Earn. As you will probably know, Coinbase is one of the largest and easiest ways to purchase Bitcoin and other Cryptocurrencies.

Coinbase Earn

Last year they launched a new initiative called Coinbase Earn, this is a program where you can earn a variety of different cryptos by watching some educational videos about each crypto and then answering some multiple choice questions.

The coins on offer change, so it’s best to register and participate in any that are available and keep an eye out for their emails as they add new ones from time to time.

This is an easy way to earn a couple of hundred dollars of cryptocurrency which you can then withdraw or sell for fiat on the platform.

Signup for Coinbase Earn

Bitcoin Lending

There are potentially significant earnings to be made in Bitcoin lending, but there is also significant risk. Bitcoin lending tends to operate through intermediary websites such as Blockfi and Nexo and the concept is as simple as it sounds.

Read our full review of BlockFi here.

BlockFi Review
BlockFi: Cryptoloans

You act as a bank, lending your Bitcoin to another person at a certain level of interest. Because the market is unregulated the levels of interest are generally much higher than the standard bank rate meaning that there is a potential for high returns.

However, on the flip-side, the unregulated nature of the transaction means that in the event that the borrower does not pay back the Bitcoin to you, there is little recourse available for you to enforce the loan.

The volatility and the risk associated with the Bitcoin lending market means that it is probably a market only accessible to very large holders of Bitcoin, due to the level of risk and the potential expense in enforcing a loan if something goes wrong. However, if handled correctly, there is huge potential market in this sector.

Nexo Review

Read our Nexo review here.

For more information about Bitcoin Lending, take a look at our indepth guide.

Micro Earnings

Although micro-earnings is the easiest method in which to earn Bitcoin, it is also probably the most time consuming of all the methods discussed, especially when taking into consideration the amount of money to be made.

Micro earning websites pay you in Bitcoin for completing small tasks. In return you can get a (very) small amount of Bitcoin. The most popular forms of micro earnings are as follows:

As suggested by the name, these websites pay users in Bitcoin for visiting certain websites or viewing certain advertisements. There are many PTC websites that will pay negligible amounts in Bitcoin for clicks and views, with Ads4BTC probably being the most famous and the most popular.

This website allows users to choose between viewing ads that are 5 seconds, 10 seconds or 20 seconds, with different fees being awarded for each.

Based on the prices offered by Ads4BTC, if you had 20 second ads running for an entire day, you would make less than $10 per day, so this may not be a viable option for most.

Bitcoin Faucets

A Bitcoin faucet is a type of website that gives away small amounts of Bitcoin to its users, with owners making money by placing ads on their website and pay individuals who visit the ads or complete surveys.

This industry amounts of over 50% of the traffic on leading Bitcoin websites today. Faucets let visitors earn a percentage of the Bitcoin that they give away to any visitors that you brought in.

This has resulted in users using a Bitcoin faucet rotator that allows users to quickly surf different faucets and earn a commission through rotation links for each faucet visited by you.

However, similar to PTC websites, Bitcoin faucets are not a realistic way to earn good money, with even the best faucet rotators being applied still only enabling users to make no more than $1-2 per day.

Bitcoin Faucets

Micro Jobs

Micro jobs are small tasks that can be completed for small amounts of Bitcoin. Websites such as Coinworker offer such tasks, which may involve simply testing a plugin to see if it is successfully compatible with a browser, or just retweeting a post.

Again, the money is small but there is potential to earn a little bit more than the faucets of PTC websites.

Coinworker

Writing about Bitcoin

If you’re knowledgeable about Bitcoin, enthusiastic about the cryptocurrency industry in general and willing and able to share your knowledge, then you can also earn Bitcoin by doing so.

The amount that can be earned by writing about Bitcoin varies, but can be quite lucrative depending on the level of expertise that you have on the subject.

BitcoinTalk Signature Campaigns

The BitcoinTalk Forum Signature campaign pays for users to write posts on the BitcoinTalk forum which includes a product campaign in the signature. Payment levels depend on your membership level on the BitcoinTalk forum, with very little Bitcoin being available for users that aren’t a full member of the forum (to obtain full membership, you need at least 120 posts).

Most campaigns also have certain requirements for posters, such as a minimum word limit or a requirement that no advertisements are directly included in posts. In addition, some campaigns may include a minimum and/or a maximum weekly post count.

The amount of money that can be made from these campaigns varies depending on the number of quality posts that you could make as a user that achieve the word count minimums.

Depending on the campaign you may be able to make $50-100 for 24 hours of work, exclusive of the posts needed to obtain full membership to the forum.

In addition, due to some campaigns operating only allowing for a maximum number of posts per week, there may not be sufficient income within a campaign to earn substantial amounts.

Bitcointalk Bounties

Lots of new Cryptocurrency companies also offer “Bounties” for performing other tasks, such as creating YouTube videos, blogging and posting on social media.

You will earn differing amounts depending on how many followers you have so it can be useful to build your Facebook or Twitter accounts and participate in different campaigns.

You will typically be paid after the ICO has taken place and receive some of the coin or token from the company you helped promote.

Writing for blog and news sites

It is at this point that the potential for making good money begins to rise, although the corresponding requirements for knowledge about Bitcoin also increase at the same time.

There are an ever-increasing number of blogs and news sites that require dedicated writers to discuss Bitcoin and other cryptocurrencies and, depending on your level of understanding about your subject, there are a virtual limitless number of options available to writers, with good quality writers being paid between $30-100 per 1,000 words.

At this level writers can also choose their payment methods, whether it be in Bitcoin or in fiat currency. Websites such as Coinality is a good place to start if you are looking to find jobs writing about Bitcoin online.

Coinality

Affiliate Marketing

If you take the writing route for Bitcoin and your blog or website is a success, there is potential to make money through Bitcoin affiliate marketing. This is a form of marketing where you can get paid a certain percentage of commission for every referral that you bring to an existing Bitcoin business.

If the business operates an affiliate programme, and your blog is read by enough people who link to the business and purchase the product offered, then the commissions can potentially be unlimited, for minimal outlay other than the drafting of the original blog post.

Provide Bitcoin-related services

When it comes to cryptocurrency, if your level of expertise is more on the technical side rather than the writing side, there are plenty of opportunities to get involved in cryptocurrency development projects.

Most of the companies currently operating in the cryptocurrency industry are start-ups with limited infrastructure in place. Therefore, they often need everything from software developers to web developers to mining experts to online marketers.

Depending on the size of the startup a role such as this can vary from being a contracting job that can be completed remotely, or alternatively could be a full-time job.

The amount that can be earned from a role such as this is obviously dependent on the type of role, the level of expertise that you bring to the role and the number of hours that you will be dedicating to the role.

Bitcoin Mining

Early adherents to the Bitcoin industry have made significant fees through mining Bitcoin. Mining Bitcoin is the process by which new coins are created.

Mining is carried out using certain computer programmes and utilises the processing power of the miner’s computer.

At its inception, Bitcoin mining was relatively simple and the earliest miners were able to mine thousands and thousands of Bitcoin with limited expenditure.

However, at the same time, the value of Bitcoin was nowhere near where it was today and therefore any large profits being made from mining didn’t really begin to happen until a number of years after when the value of Bitcoin began to rise.

Bitcoin Mining Environment

Nowadays, Bitcoin mining is much harder. Each Bitcoin that is mined requires more processing power and therefore mining Bitcoin now involves significant processing power and can no longer be done without specialized equipment.

In addition, the costs of the electricity used to power this equipment is phenomenal, with Bitcoin mining currently estimating to be using the same power per day as a country the size of Morocco.

Because of this, most Bitcoin mining has been taken over by companies who can make profit by scale based on buying large amounts of processing hardware at a discount as well as locating themselves in an area with extremely cheap electricity.

For this reason, China is by far the largest Bitcoin mining country (mining over 60% of Bitcoin), followed by Georgia, Sweden and the US.

Bitcoin Trading

There is huge potential to make money on trading in Bitcoin, but it takes a level of expertise and knowledge about the market in the same way that trading on any other financial market does.

In addition, the cryptocurrency market is extremely volatile and therefore may not suit everybody’s tastes and risk appetite. The first issue with trading is that almost all of the trading exchanges operate through Bitcoin or Ethereum, meaning that if you wish to trade in cryptocurrency and don’t own any, you will probably need to own some (with some exceptions).

Day Trading Cryptocurrency

Websites such as Coinbase or CEX both allow users to purchase cryptocurrency by credit or debit card, or alternatively to purchase via a bank transfer. Once purchased, you can then transfer your Bitcoin to whichever exchange you wish to operate on. If you wish to consider trading, here are some of the options:

Day Trading

Day trading is buying and selling Bitcoins on the same day on the basis of small, short-term price fluctuations in the market. Such fluctuations may be based on market trends or simply rumours. Traders can trade Bitcoin against other cryptocurrencies or against fiat currencies such as the US Dollar.

Trading Bots

Running your own Bitcoin Trading bot is an advanced method which can produce good returns if done properly.

We have written a complete guide to trading bots here which will show you the methods and advantages to earning bitcoin and other cryptocurrencies this way. Here are some of the more popular platforms and bots to use:

3Commas

3Commas is a very popular trading bot which works with a number of exchanges including Bittrex, BitFinex, Binance, Bitstamp, KuCoin, Poloniex, GDAX, Cryptopia, Huobi and YOBIT.

The bot works 24 / / 7 with any device as it is a web-based service so you can monitor your trading dashboard on mobile as well as desktop and laptop computers.

3Commas Review

It allows you to set stop-loss and take-profit targets and also has a social trading aspect which allows you to copy the actions of it’s most successful traders.

For more information about 3Commas, check out our complete review here.

Visit 3Commas

Cryptohopper

Cryptohopper is a cloud-based trading bot which means it can trade cryptocurrency 24 hours a day whether you are at your computer or not. The system allows you to trade on technical indicators, or subscribe to a signaler who sends buy signals.

According to their website, they “are the first and only automated crypto trading bot to integrate professional external signals.”

Cryptohopper Review

For more information about Cryptohopper, see our full review here.

Visit Cryptohopper

CryptoTrader

The CryptoTrader bot is a cloud based trading bot that provides users with fully automated trading solutions while not requiring them to install the bot on their own system.

CryptoTrader features a strategies ‘marketplace’ that allows users to buy their favorite trading strategy, or alternatively to sell strategies developed by themselves.

We have also reviewed CryptoTrader here.

CryptotraderContracts for Difference

Although similar to day trading, CFDs does not involve actually buying or selling any Bitcoin. Instead, you buy a contract for Bitcoin, meaning that you don’t actually have to hold or store any Bitcoin.

One of the advantages of this is that you can short Bitcoin, meaning that if the price goes down, your profit goes up, allowing you to hedge your trades.

Best Forex Brokers
Read: Best Forex Brokers

One of the disadvantages is that you have no control over the Bitcoin you trade with, as you are not the owner of any Bitcoin or the controller of the private key. It can therefore only be used for trading purposes.

More about CFDs here.

Binary Options

Binary options (so-called because the only option is to win or to lose) is a trade strategy that allows you to predict if the price of Bitcoin will rise or fall in a certain period of time.

If the rise or fall occurs within the set period, you will receive the payout agreed upon when entering into the option. If it does not occur, then you lose your investment.

We recently reviewed IQ Option which is the largest site for trading Binary options.

Conclusion

Although not exhaustive, these are some of the most popular ways in which you can earn income online. As noted at the outset, there is no such thing as free Bitcoin and something will have to be given in return, whether it’s time or expertise or both.

However, with an ever-expanding market the demand for Bitcoin expertise and Bitcoin related products means that there has never been a better time to get involved in Bitcoin.

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Maker Foundation Transfers Control of MKR Token to Community https://thebitcoinexaminer.com/2020/03/27/maker-foundation-transfers-control-of-mkr-token-to-community/ Fri, 27 Mar 2020 10:31:36 +0000 https://thebitcoinexaminer.com/2020/03/27/maker-foundation-transfers-control-of-mkr-token-to-community/

The Maker Foundation announced that it has successfully transferred the control of MKR tokens to the Maker governance community. According to the foundation, the MKR token contract is now in full control of MKR holders, bringing it closer to complete system decentralization.

Maker Completes MKR Token Control Transfer

The Maker Foundation, a non-profit organization tasked with running the Maker blockchain, has announced that it has completed the transfer of MKR token control to the Maker governance community. 

According to the foundation, the MKR token contract is now 100% in control of MKR holders, bringing the MakerDAO ecosystem one step closer to completely decentralized governance. 

“Today’s news is momentous. By completing its commitment to transfer the MKR token contract to MKR holders, the Maker Foundation continues to move toward a completely self-sustaining MakerDAO,” said Rune Christensen, CEO of the Maker Foundation.

The process took just over three months to complete, as the first step was initiated on Jan. 10 when the “MkrAuthority” contract was deployed on the Ethereum mainnet. The final step of the governance transfer was completed on Mar. 24, when the owner of the MKR token was set to the 0x0 address. 

Saving MakerDAO

Transfering the control of the Maker protocol into the hands of MKR holders was the culmination of an effort to completely decentralize MakerDAO. This move is especially important due to the fact that the price of MKR dropped by almost 60% on Mar. 13, wreaking havoc on the DeFi protocol.

Borrowers on Maker with open CDPs and Vaults were caught on the wrong side of an unstable market as millions of dollars worth of collateral was auctioned off for $0. Many borrowers who were trying to add more collateral to their loans but were unable to do so as the network faced unprecedented congestion.

The Maker Foundation took active steps to reduce the adverse effects of the major downturn Maker saw on Mar. 13, including a $4.5 million MKR auction. The foundation said that the latest control transfer, combined with the auction, will serve to recapitalize the Maker system and embody the true values of decentralized finance. 



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How to Use Bitcoin and Cryptocurrency ATM – Changelly https://thebitcoinexaminer.com/2020/03/27/how-to-use-bitcoin-and-cryptocurrency-atm-changelly/ Fri, 27 Mar 2020 10:22:14 +0000 https://thebitcoinexaminer.com/2020/03/27/how-to-use-bitcoin-and-cryptocurrency-atm-changelly/

How to Use Bitcoin ATM

Today, the popularity of the bitcoin ATM business is growing rapidly due to the improved technology, increased functionality of devices and, above all, the increased demand for this service. Therefore, many entrepreneurs are interested in this particular industry.

The first Bitcoin ATM was called Robocoin. It was commissioned on October 29, 2013, in Vancouver, and processed over 1,000,000 Canadian dollars in the following months. There are currently 4 Bitcoin ATMs in the USA, 4 in Canada, one in the UK and one in Singapore, and the number is constantly increasing. Lamassu and BitAccess were the next manufacturers to take the lead. What other Bitcoin ATMs are there? Find out in this article!

How Does Bitcoin ATM Work 

Although there are countless types of ATMs from different manufacturers, they all mostly work the same way.

A Bitcoin ATM is connected via the Internet to the Bitcoin blockchain via the Internet and gives the user the address to which the cryptocurrency has been transferred (in both the usual way and in the form of a QR code). At the same time, cryptocurrency is transferred from one of the wallets of the company that owns the ATM.

Usually, 2 main options are available for users:

Whether the Bitcoin ATM could be used anonymously or not depends on the legal requirements of the country where it is installed. Although in some jurisdictions they can be used anonymously, in most cases the ATM camera takes a picture of the user’s face, and sometimes the client is required to show their ID to the camera.

Even if some companies offer the possibility of using an ATM anonymously, users should not forget about the lack of complete anonymity of bitcoin itself, as transactions can be tracked and a wallet can be linked to a specific person.

In most cases, ID documents are not required, but in some states in the US and parts of Canada clients have to allow a Bitcoin ATM to scan their driver’s license or another form of an identification document.

The commission fee in a Bitcoin ATM depends on the pricing policy of the operator company. In most cases, it is 7-9% of the transaction amount.

Bitcoin ATMs do not usually support credit cards, since the user can later request a chargeback, and it is impossible to cancel a transaction on the Bitcoin blockchain.

There are some Bitcoin ATMs in the US that allow the purchase of bitcoin using a credit card, but there are only a few dozen of them. The vast majority of Bitcoin ATMs works exclusively with cash.

According to data provided by the Bitcoin ATM Map, the installation speed of new ATMs has been growing since 2018. There are now 5,914 ATMs in total, of which more than 3,000 are located in North America.

atm quantity

How to Buy or Sell Bitcoin Using ATM 

When buying crypto, you will need to deposit cash in the currency you’re buying with. Then, the amount will be converted into the equivalent in BTC and after a while, it will be credited to the previously entered wallet, or you will need to create one if you don’t have it or the machine requires you to make a new one.

When withdrawing funds, you need to show the address of your wallet by bringing it closer to the QR code scanner on the machine, and then enter the equivalent of bitcoin that you want to sell by converting it into fiat.

There are several security procedures for each operation. You may be asked to enter a PIN code, which will be sent to the mobile phone number that you entered earlier or to confirm your identity by scanning your ID or taking a selfie.

The steps you need to follow vary depending on which model of crypto ATMs you’re using, but the general algorithm is as follows:

  1. Pass verification. In most cases – using an SMS code, but there are options with scanning ID cards and even fingerprints. The verification step is not present for some models.
  2. Enter the bitcoin address to which you want to transfer funds. This is done either using the keyboard (and then you need to be careful to avoid typos) or using the QR code generated by the wallet application. Some terminals allow you to generate new addresses and keys, but it is better not to rely on this function.
  3. Deposit cash.
  4. Confirm the operation.

You can even buy a Bitcoin ATM. The terminal itself is $ 3,000 to $ 8,000 depending on the model, but other fees (delivery, installation, taxes, fees, and so on) bring the “starting” cost up to 10-15 thousand dollars per terminal.

You can buy bitcoin ATMs in either specialized online stores or directly from one of the four dozen manufacturers.

9 Best BTC ATM to Use in 2020

There are many types of Bitcoin ATMs, offering various features. As you can see below, there are quite a few ATM manufacturers, for example, General Bytes, Genesis Coin, Lamassu, BitAcess, and others. We will highlight only the best Bitcoin ATMs in this review. 

Crypto ATMs Share by Manufacturer 2020

#1. Lamasssu

Using this Bitcoin ATM you can buy Bitcoin for cash in more than 200 countries around the world. The ATM takes a 7% commission fee. As for verification, you only need the QR code of your Bitcoin wallet to make a transaction. 

They produce four ATM models: Gaia, Sintra, Sintra Forte, Douro II (the latest one). 

lamassu atms

At the moment, Lamassu has already sold more than a hundred of these terminals; they are scattered all around the world.

How to buy crypto at a Bitcoin ATM made by Lamassu?

  1. Scan your Bitcoin wallet
  2. Insert cash
  3. Click “Send Bitcoins”

#2. Genesis Coin

genesis satoshi bitcoin atm

Genesis1 is the most popular crypto ATM produced by the Genesis Coin Corporation, and, as it features the AML/KYC verification procedure, users have to remember to have a passport with them. Additionally, upon request, an additional fingerprint scanner, the ability to run verification checks via SMS, an ID card reader and a high-definition camera can be added to the machine to comply with applicable legal standards. 

The ATM supports three cryptocurrencies: Bitcoin, Litecoin and Dogecoin. Cash withdrawal is limited to $6800. The price of one terminal is $14,500.

#3. General Bytes

The Czech company General Bytes has been ranked second for the number of implemented crypto machines. The majority of their ATMs are located in Europe due to the geographical location of the company’s headquarters. 

general bytes

There are two Bitcoin ATMs in the General Bytes product line: BATMTwo and BATMThree. Both are based on the Android operating system. In addition to having to complete the KYC/AML procedure, the client must also provide their email. User verification is carried out by operators and takes about 15 minutes.

#4. BitAccess

BitAccess is a Canadian Blockchain company producing Bitcoin ATMs that allow clients to deposit cash and instantly receive a digital wallet containing the equivalent in Bitcoin, or exchange Bitcoin for fiat currency. The ATMs are spread around the world. Click here to find your nearest BitAccess ATM.

bitaccess

How to use a BitAccess ATM? 

  1. Click Start
  2. Enter the phone number and click “Proceed”
  3. Enter the verification code sent to your mobile number
  4. Scan the QR code of the BTC address to which you want to receive BTC
  5. Deposit money and continue
  6. Coins will be sent to your BTC address

#5. Coinme 

coinme atm

Coinme is a leading blockchain company. It helps the world gain access to digital currency. Coinme became the first state-licensed Bitcoin ATM operator in the U.S. and now, through their partnership with Coinstar, operates one of the largest bitcoin kiosk networks in the world. 

How to purchase BTC with a Coinme Kiosk?

  1. Insert ID to Create Wallet
  2. Purchase Bitcoin with Cash
  3. Manage In Coinme Wallet

#6. Coinsource

Coinsource ATM crypto

Coinsource is a rising star among the US crypto ATM operators. Founded in 2015, the company spread more than 600 machines all across the States, with plans to install even more. So far, 2020 was good for them, as they’ve expanded their PaaS (Platform as a Service) model to allow others to rent their machines. It looks like they became a strong contender to become the largest bitcoin kiosk network in the country.

How to purchase BTC with a Coinsource Kiosk?

  1. Log in with your ID
  2. Input your wallet address (scan a QR code or enter it manually)
  3. Enter your cash

#7. Coinflip

Coinflip Crypto ATM

Coinflip is a blockchain company that doesn’t focus on a single cryptocurrency but instead offers a multicurrency ATMs to crypto enthusiasts. Not only that, but they also have one of the lowest fee rates among other ATM providers, making their services even more customer-friendly.

How to purchase BTC with a Coinflip ATM?

  1. Choose language
  2. Press “Start”
  3. Enter your mobile number
  4. Receive the validation code and enter it
  5. Select “Buy Bitcoins”
  6. Choose whether you already have a Bitcoin wallet (yes – scan it later, no – generate and print new one)
  7. Scan QR code
  8. Insert your cash.

#8. Libertyx

LibertyX Crypto ATM 2020

Libertyx is a company that decided to go a little bit further for its clients. As of now, they are the only company that allows you to buy Bitcoins at usual ATMs with your debit card, in addition to traditional kiosks. Both options would require you to use Libertyx mobile app, so if you plan on using their services, you should register an account there if you don’t have one.

How to purchase BTC with a Libertyx ATM?

  1. Use the LibertyX store locator and find a debit kiosk location near you. Use the filter to select “Kiosk” to only show debit kiosk locations
  2. Click the location and click “Purchase bitcoin here”
  3. Enter your bitcoin address and specify how quickly you would like the bitcoin to arrive
  4. Enter the purchase amount
  5. Once you are at the terminal, scan your QR code on the terminal screen
  6. Insert your debit card (no credit cards)
  7. Enter your debit card PIN
  8. Receive your BTC

The process is pretty much the same when buying from the kiosk.

#9. Digitalmint

Digitalmint Crypto ATM 2020

Digitalmint is one of the industry leaders among crypto ATM providers. While it appeared only recently, the company already managed to spread its influence all across the USA. Digitalmint offers to its users the access not only to Bitcoin but to Litecoin and Ethereum as well, though those options will be harder to find.

How to purchase BTC with a Digitalmint ATM?

  1. Type in your phone number and your PIN
  2. Scan or enter your bitcoin wallet address
  3. Insert the desired amount of cash and get the ATM receipt

Bitcoin ATM Near Me 

Is there a Bitcoin ATM near you? You can check on the CoinAtmRadar website, where it is possible to view a map with all the ATMs where you can buy and sell cryptocurrencies.

Using this service you can:

  • Explore the Bitcoin ATM Map
  • Locate the nearest crypto ATMs
  • Get all the necessary data about that ATM (commission fees, limits, whether it is buy-only, sell-only or buy/sell)
  • Get directions from your location to the selected ATM

Most Bitcoin ATMs are located in the United States and Europe. The leader for the number of crypto ATMs in Europe is the UK.

atm distribution around the world

How to Use Bitcoin ATM in the USA and Canada

As long as you live in a somewhat big town, you will at least some crypto ATMs available. For your convenience, here is the map of Bitcoin ATMs in the USA and Canada.

USA Canada ATM map
Source: Coin ATM Radar

How to Use Bitcoin ATM in the UK

It is harder to find ATM in the United Kingdom, with the majority concentrated in London and its suburbs. Still, with the use of maps you can find it easily.

UK Crypto ATM Map
Source: Coin ATM Radar

How to Use Bitcoin ATM in Australia

Australia is a rather big country with insufficient coverage of Bitcoin ATMs. Most of them are concentrated near Melbourne, but you can find some in Sydney and Adelaide.

Australia ATM Map
Source: Coin ATM Radar

How to Use Bitcoin ATM in Singapore

Currently, there are only 8 BTC ATMs in Singapore, with 6 of them in the downtown area. You can find all of them on this map.

Singapore ATM Map
Source: Coin ATM Radar

Bottom Line

Using Bitcoin ATMs is very simple, especially if there is one near you.

Please note that some ATMs may require you to scan identity documents and may also request a phone number for KYC purposes. However, that usually happens when operations are performed with a large number of cryptocurrencies.

As it has been mentioned previously, there are quite a few crypto ATMs in the world, some of which only allow buying bitcoins, some, only selling them. There are very few ATMs that can perform both types of operations.

You can also buy Bitcoin or any other cryptocurrency directly via our exchange service.

About Changelly

Changelly is a secure instant crypto exchange that has 150+ cryptocurrencies available to be swapped and bought at market-best rates. Operating since 2015, the platform and its mobile application attract over a million visitors monthly, who all enjoy quick and simple exchanges, low transparent fees, and 24/7 live support.



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Block.One Pours $150 Million Into Voice Social Media Platform https://thebitcoinexaminer.com/2020/03/27/block-one-pours-150-million-into-voice-social-media-platform/ Fri, 27 Mar 2020 08:57:21 +0000 https://thebitcoinexaminer.com/2020/03/27/block-one-pours-150-million-into-voice-social-media-platform/

Block.One, the company behind the EOS blockchain platform, has been working on its social media space, Voice, for some time now. Currently, in beta, the company has just put $150 million into Voice to improve its development.

According to The Block, the investment should help the platform go independent and not rely on Block.One as much. The publication shared an excerpt from the announcement, which stated:

“Under Salah’s leadership, Voice is to operate as a separate business and will deploy the $150 million in capital to expand its operations and build out the company’s workforce.”

That excerpt, of course, is referring to Salah Zalatimo, the CEO of Voice and once the global chief digital officer at Forbes.

As you may know, Voice is a decentralized social media platform similar to that of Reddit or Steem. Users will make posts and comments, which are then voted on via Voice Tokens. Posts with more tokens are pushed to the top of the feed.

As of now, these tokens are in beta, and users are given them via participating in the network or through daily rewards. It is likely that balances are going to reset once the platform heads out of beta, however.

The platform has been in beta since Summer, 2019.

Remember, all trading carries risk. Views expressed are those of the writers only. Past performance is no guarantee of future results. The opinions expressed in this Site do not constitute investment advice and independent financial advice should be sought where appropriate. This website is free for you to use but we may receive commission from the companies we feature on this site.



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Binance to Distribute ETH to DGD Holders as DigixDAO Initiates Dissolution https://thebitcoinexaminer.com/2020/03/27/binance-to-distribute-eth-to-dgd-holders-as-digixdao-initiates-dissolution/ Fri, 27 Mar 2020 08:12:10 +0000 https://thebitcoinexaminer.com/2020/03/27/binance-to-distribute-eth-to-dgd-holders-as-digixdao-initiates-dissolution/

In brief:

  • Binance has announced that it will be supporting the upcoming DigixDAO (DGD) dissolution. 
  • The exchange will distribute ETH to qualified DGD holders at a rate of 1 DGD = 0.193054178 ETH.
  • Earlier this year, the DigixDAO community voted on dissolving the project and burning the DGD in circulation.

The popular crypto exchange of Binance has announced its support for the upcoming DigixDAO (DGD) dissolution. The exchange will convert all DGD balances on the exchange, to Ethereum coins at a fixed ratio of 1 DGD = 0.193054178 ETH. Trading of DGD will cease tomorrow, 27th March, at 12:00 UTC. The token will consequently be delisted. A snapshot of DGD holdings will be taken on the 28th of March 2020, at 16:00 UTC.

Requirements for the Conversation of DGD into ETH

The exchange went on to list the following processes and requirements for the successful conversion of DGD holdings.

  • DGD balances under 0.01 DGD (including those in trade orders) will not be eligible to receive ETH.
  • DGD tokens held in sub-accounts will be combined into the corresponding master account. Sub-accounts will not separately receive any ETH tokens.
  • Once ETH tokens are distributed to the respective DGD holders, each user’s DGD balance will be removed from their asset balances. 
  • ETH tokens will be distributed before 2020/04/04 12:00 PM UTC.

DigixDAO Community Voted to Dissolve the Project

In January of this year, the DigixDAO community voted in favor of a proposal (named Ragnarok) to dissolve the project. The team at DigixDAO will, therefore, carry out the wishes of the community. The decision to dissolve was as a result of community members voicing their dissatisfaction with the project over the years. In a medium blog post, the DGD team thanked everyone that believed in the project since its inception in March 2016.

DGX and Digix Will Continue to Exist

The team also explained that the dissolution of DigixDAO will not affect DGX and Digix.

(Feature image courtesy of Denys Nevozhai on Unsplash.)

Disclaimer: This article is not meant to give financial advice. Any additional opinion herein is purely the author’s and does not represent the opinion of Ethereum World News or any of its other writers. Please carry out your own research before investing in any of the numerous cryptocurrencies available. Thank you.



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Entertainment Asset DEP (DEAPcoin) Launches on Top Exchange OKEx » NullTX https://thebitcoinexaminer.com/2020/03/26/entertainment-asset-dep-deapcoin-launches-on-top-exchange-okex-nulltx/ Thu, 26 Mar 2020 10:47:40 +0000 https://thebitcoinexaminer.com/2020/03/26/entertainment-asset-dep-deapcoin-launches-on-top-exchange-okex-nulltx/

The Digital Entertainment Asset Pte.LTD (DEA) have announced that it’s in-game currency DEP, (DEAPcoin) will be listed on OKEx this April. 

25 March 2020, Singapore – Singapore-based Digital Entertainment Asset Pte. Ltd. (DEA), have announced that the digital currency DEP (DEAPcoin) used on it’s entertainment platform “PlayMining” will be listed on leading digital currency exchange OKEx, on April 8th, 2020. 

What is PlayMining

Qries

PlayMining is an entertainment platform on which users can buy & trade items, such as virtual cards that can be used in games, like it’s new title JobTribes. DEP is the Playmining’s native currency, which can be earned from playing the platform’s games and reading it’s online comics. 

New Consultants 

DEA has announced that it has taken on Shiina Shigeru, and Yoshida Naohito as Co-CEO’s. Mr. Shiina Shigeru, a former president of PwC Japan and vice president of KPMG Consulting, has formally joined DEA’s business team, and together with Mr. Yoshida Naohito, a serial entrepreneur has successfully listed three companies in Japan, these two Co-representatives (Co-CEO) will work together to build a strong business system. 

As a student of AI technology in NEC Central Research Institute, Shiina published a number of papers, and also obtained a number of successful franchises. In order to promote the application of AI in the society, he later turned to the consultant industry. 

Shiina Shigeru spoke about how he hopes to use his experience to help PlayMining succeed, 

“While it’s amazing to be involved in an innovative business, it’s just a matter of carrying out the spirit of challenge I’ve had so far. I hope to make the best use of my experience so far to create a career that will bring impact to the world.”

Starting as a magazine editor, Yoshida Naohito developed the animation game company GLAMS at the age of 28 followed by three different companies in the human resources, content industry, and advertising industry. 

JobTribes

The first title on PlayMining’ is JobTribes’, a card collecting battle fantasy game, which will be made available in closed beta test recruitment at the end of March. PlayMining intends to give priority to users who sign up for membership from the game’s official website. In addition, participation in closed beta tests is also expected to receive DEAPcoin rewards, or blockchain-related game cards. 

Media Contact

Email: [email protected]

To learn more about DEA –  https://dea.sg/sc/

Jobtribes official websitehttps://jobtribes.io/en/

Follow PlayMining on Twitterhttps://twitter.com/PlayMining_JP

PlayMining on Facebookhttps://www.facebook.com/PlayMining/

Official Youtubehttps://www.youtube.com/channel/UCGWmK0RLV4SB_PSXpj2j6dw

Official DEAPcoin Telegram (English) – https://t.me/DEAPcoin_group

Official DEAPcoin Telegram (Chinese) – https://t.me/DEAP001

DEA is the source of this content. Virtual currency is not legal tender, is not backed by the government, and accounts and value balances are not subject to consumer protections. This press release is for informational purposes only. The information does not constitute investment advice or an offer to invest.  





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Could Endless Printing Trigger a Hyperbitcoinization Event? https://thebitcoinexaminer.com/2020/03/26/could-endless-printing-trigger-a-hyperbitcoinization-event/ Thu, 26 Mar 2020 10:40:51 +0000 https://thebitcoinexaminer.com/2020/03/26/could-endless-printing-trigger-a-hyperbitcoinization-event/

Making Bitcoin Go Viral: Could Endless Printing Trigger a Hyperbitcoinization Event?

Hyperbitcoinization has been defined as “a state where bitcoin becomes the world’s dominant form of money.” But what actually needs to happen for bitcoin to ‘go viral’? As it turns out, a hyperbitcoinization event may be more likely than many suspect, especially in the current economic climate. However, there’s one big caveat: it requires human action.

Also read: Disney World Economics: How Coronavirus Could Be Used to Justify a Global Financial Reset

Contagious Currency

The current covid-19 panic and pandemonium gripping the world has brought economic issues to the forefront of conversation, as economies across the globe are stunted by government orders to shutdown. Whether this is the best way to contain a contagion is hotly debated, but the paranoia about getting sick has stretched so far as to even touch the safety of paper cash.

Some nations, China and the U.S. among them, have been quarantining and disinfecting physical cash, for fear that it could spread the covid-19 virus. This potential transmission vector is viewed as an important threat, and many businesses across the globe are encouraging customers to use contactless payment systems in lieu of the dirty paper stuff.

There’s even been a buzz in the bitcoin space about this being an argument for crypto adoption. But for bitcoin to catch fire and really spread around the world in viral fashion, a number of factors must be present.

Making Bitcoin Go Viral: Could Endless Printing Trigger a Hyperbitcoinization Event?

Conditions Necessary for Hyperbitcoinization

In order for “Bitcoin-induced currency demonetization” to take place, three main factors must be present so that a competing money “will rapidly lose value as bitcoin supplants it.”

Making Bitcoin Go Viral: Could Endless Printing Trigger a Hyperbitcoinization Event?
Unemployment insurance claims from the state of Texas illustrate a remarkable spike in job losses due to covid-19 shutdowns, and have resulted in processing systems being overwhelmed. Source: bizjournals.com

Loss of Faith in Established Systems: Individuals across the globe are losing jobs and losing trust in their governments, their monetary systems, and in many cases, the broader global economic paradigm itself. Before covid-19 showed up, the world was already in the throes of widespread protest and unrest surrounding corrupt governance and economically unviable situations at a systemic level.

Now states have leveraged coronavirus to justify shutting down innumerable businesses and halting critical industry, many more are asking questions, and some are losing faith in the Modern Monetary Theory magic, which says that you can always “just print more money” when times are hard. The thing is, you can’t “just print more” goods and services. As currencies across the globe lose value, hyperinflation is also not an entirely impossible outcome, meaning dollars could potentially turn into valueless scraps of paper.

Making Bitcoin Go Viral: Could Endless Printing Trigger a Hyperbitcoinization Event?

Viable Alternatives to Fiat: Bitcoin is permissionless, fast, borderless, low-fee, and decentralized. While the issue of which version of bitcoin would best serve as a global money is debated, the critical fact is that an alternative to government fiat does exist, has active use cases, and is at this point time-tested. It is also hard-capped in supply and looks promising as an inflation-resistant asset.

Further, with governments now in development and research for CDBCs (central bank digital currencies) even so-called “normies” are being primed for understanding how crypto and digital assets work. The corona zeitgeist is one that includes mainstream media buzz about a “digital dollar” and “digital yuan.” This presents a unique window of opportunity for a shift away from fiat currencies.

Open Markets: Of all the prerequisites for hyperbitcoinization, this is arguably the trickiest, and will be dealt with more in-depth at the close of this article. Suffice to say that without the ability for individuals to transact freely and voluntarily no currency — not even national currencies like the yen, dollar, or peso — can be successful.

Making Bitcoin Go Viral: Could Endless Printing Trigger a Hyperbitcoinization Event?
Nobel Prize-winning mathematician and economist John Nash

‘Ideal Money’

Late Nobel Prize Laureate John Nash, an American mathematician known for — among numerous other accolades — being the namesake for game theory’s Nash equilibrium, developed a notion he referred to as Ideal Money.

Ideal Money would be, simply put, a money whose value is not foundationally subject to political special interests and conflicts of interest like the USD, and which is not inherently subject to inflation. Loosely comparing modern economic planners with Bolshevik communists, Nash once wrote:

So there may be an analogy to this as regards those called ‘the Keynesians’ in that while they have claimed to be operating for high and noble objectives of general welfare what is clearly true is that they have made it easier for governments to ‘print money’.

Nash’s words sound hauntingly on target today, as we witness nations like the U.S. create unprecedented amounts of fiat out of thin air, ignoring that eventually, someone must pay the piper.

Making Bitcoin Go Viral: Could Endless Printing Trigger a Hyperbitcoinization Event?

Though Nash had his own ideas about what might best constitute this so-called ideal, the renowned mathematician did not rule out bitcoin.

In fact, he wrote in his paper Ideal Money: “My personal view is that a practical global money might most favorably evolve through the development first of a few regional currencies of truly good quality. And then the ‘integration’ or ‘coordination’ of those into a global currency would become just a technical problem.” Nash went on:

But the famous classical ‘Gresham’s Law’ also reveals the intrinsic difficulty. Thus ‘good money’ will not naturally supplant and replace ‘bad money’ by a simple Darwinian superiority of competitive species. Rather than that, it must be that the good things are established by the voluntary choice of human agencies.

Making Bitcoin Go Viral: Could Endless Printing Trigger a Hyperbitcoinization Event?

Human Action: The Final Ingredient

It is interesting that Nash describes “a few regional currencies of truly good quality” coming together someday via technical integration. Could this be an unintended, prescient nod to bitcoin, blockchain, and the various integrations and ideas the crypto space has seen over the years like atomic swaps and network interoperability?

Only time will tell. What is certain, and what Nash notes explicitly in the passage, is that no matter how seemingly fit the conditions, no exodus from the broken world of fiat can happen without voluntary human action.

This is a tricky thing. Those that use bitcoin know its value and utility, but they are limited in some ways as to how they can leverage digital cash due to enforced regulations. Those that don’t know about crypto in a meaningful way remain the unable-to-act majority, presenting a two-faced challenge. Standing in the way of hyperbitcoinization, then, is the obstacle of “going viral” and that of forced censorship. The first obstacle shouldn’t be hard to overcome, on surface view. The second is more daunting.

Making Bitcoin Go Viral: Could Endless Printing Trigger a Hyperbitcoinization Event?

According to marketing group Outgrow, novelty and “information gaps” play a major role in determining what type of content goes viral online. The group notes:

Researchers have found that a part of our brain actually feels rewarded by novel ideas rather than the familiar. When consumers feel they’ve been led to a new notion or concept, their brains flood their bodies with dopamine.

A lack of desperately sought info — or “information gap” — can also lead to virality, according to the group, when that info is found.

So in this context of the current mass unemployment, crashing stock markets, and an increasingly questionable world reserve currency, emotions, which are another major indicator for virality, are running extremely high. And lo and behold, there is a novel proposed solution which fills the info gap of the “what is good money” question.

Making Bitcoin Go Viral: Could Endless Printing Trigger a Hyperbitcoinization Event?

Still, there’s something of a catch 22. If the masses aren’t using it, it’s not going to be very useful in a situation like this. If they don’t start, a dire situation like this is bound to perdure, and repeat. Whether in compliance with laws and regulations or otherwise, individual actors have proven bitcoin’s strength by trading regardless, and such use is required to show the world bitcoin’s utility.

From feeding the hungry in Venezuela and South Sudan during a global crisis with borderless BCH, to making money for survival by selling goods peer-to-peer with no middleman or political permission, bitcoin is virtually unconfiscatable. It allows a shift from the broken fiat paradigm if individuals so choose. This core utility is what could ultimately trigger hyperbitcoinization, and what a “digital dollar” can’t hold a candle to. Then there might be a real shot at a peaceful, sound, and sensible global economy.

Do you think hyperbitcoinization is possible? Let us know in the comments section below.

Read disclaimer

Disclaimer: This article is for informational purposes only. It is not an offer or solicitation of an offer to buy or sell, or a recommendation, endorsement, or sponsorship of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is 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.

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Bitcoin, bitcoin cash, Bitcoin.com Local, Coronavirus, COVID-19, eatBCH, Economic Crash, Economic Crisis, economics, Economy, Federal Reserve, Fiat, Free Market, global crisis, Government, hyperbitcoinization, John Nash, Keynesian Economics, Money Printing, pandemic, Printing money, QE, Regulation, Silk Road, Unemployment, Voluntaryism

Image Credits: Shutterstock, Pixabay, Wiki Commons, Prometheus72

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Binance CEO Says $100,000 Bitcoin Is “Not Hard to Imagine” https://thebitcoinexaminer.com/2020/03/26/binance-ceo-says-100000-bitcoin-is-not-hard-to-imagine/ Thu, 26 Mar 2020 10:29:03 +0000 https://thebitcoinexaminer.com/2020/03/26/binance-ceo-says-100000-bitcoin-is-not-hard-to-imagine/

The entire world, including the Bitcoin industry, has been ravaged by the coronavirus outbreak over the past few weeks; indeed, to mitigate the spread of COVID-19, authorities have been forced to enact emergency measures, thereby shutting down thousands of businesses (both big and small) and resulting in millions laid off around the world.

It’s no surprise, then, that governments have been forced to react, to try and save their flailing constituents. Nearly all of the world’s governments have announced packages to help support the unemployed, underemployed, sick, and hurting businesses.

But the U.S. has gone big. Really big.

Speaking in a White House press conference on March 24th, White House economic advisor Larry Kudlow said that the United States government’s stimulus package will “come to roughly $6 trillion.”

To contextualize this amount of money, $6 trillion is equivalent to one of many things: one-third of America’s entire GDP, a bit bigger than Japan’s GDP, 130% of the Federal Reserve’s balance sheet, enough money for $850 for every human being on Earth, or enough money to buy 900 million Bitcoin at current prices.

Many Bitcoin bulls have run with the narrative that the astronomical size of this stimulus package as a way to accentuate how likely it is for BTC to pass seemingly astronomical prices.

Bitcoin Could Easily Hit $100,000?

Dan Held of Kraken recently remarked that the $6 trillion stimulus package “for just one country” is adding to the chance the price of Bitcoin reaches a $2 trillion market cap, which equates to around $100,000 per coin in circulation — just under 1,500% higher than the current price.

This was echoed by Changpeng “CZ” Zhao of Binance, who quipped that with the talk of “trillions,” a $100,000 BTC price is “not such a hard to imagine number now,” adding that it is easy for the price of the cryptocurrency to reach that level due to the limited supply that exists on the market.

Indeed, as the world’s governments begin to print trillions of dollars for economic reasons, there should be a sharp increase in demand for scarce assets, be that gold or Bitcoin, which have already started to outperform traditional markets over the past few days seemingly due to the news of these trillion-dollar stimulus packages. 

The Math Adds Up

As crazy as $100,000 may seem now, math is on the side of these individuals calling for a six-figure Bitcoin price.

In March of 2019, PlanB — a pseudonymous institutional investor based in Europe that analyzes Bitcoin as a personal passion — released a famous article on Medium titled “Modeling Bitcoin’s Value with Scarcity.”

The article contained the below image, which shows that Bitcoin’s market capitalization over time can be plotted on a logarithmic regression, which has an R squared of 95%, or extremely accurate in non-statistics lingo.

The model predicts that BTC will have a fair value of $55,000 to $100,000 — ten to twenty times the current value — after the halving due to the emission shock.

bitcoin scarcity

Notably, the model doesn’t predict Bitcoin will immediately spike to six digits after the halving takes place in May, but it predicts a long-term rally towards the fair value.

Fundamentally, the model makes sense: the price of BTC is constantly being depressed by the coins that are being sold by miners, which need to fund their operations. Halvings decrease the number of coins that are given to miners, resulting in less selling pressure.

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South Korean Crypto Exchanges Aid Police in Child Porn Investigation https://thebitcoinexaminer.com/2020/03/26/south-korean-crypto-exchanges-aid-police-in-child-porn-investigation/ Thu, 26 Mar 2020 10:20:36 +0000 https://thebitcoinexaminer.com/2020/03/26/south-korean-crypto-exchanges-aid-police-in-child-porn-investigation/

South Korea’s four major cryptocurrency exchanges, Upbit, Bithumb, Coinone, and Korbit, reportedly stated that they would support the local police in investigating the so-called “nth rooms” phenomenon, which turned into a nation-wide scandal.


Crypto Exchanges Reportedly Said Celebrities Were Users

For years, dozens of South Korean middle school girls, and sometimes boys, were filmed performing violent sexual acts and self-harm. The videos were then shared through Telegram chat rooms in exchange for payments made in cryptocurrency.

The Korean police found dozens of victims since the videos often displayed girls’ names and addresses.

After more than 5 million Koreans signed petitions to name the man who led the group that blackmailed girls and created the Telegram groups, the police decided to reveal his identity. The name of the 24 year old criminal is Cho Ju-bin.

The police also revealed that over 10,000 people used the Telegram chatrooms, with some paying over $1,200 in crypto for gaining access. So far, the police know about 74 people, including 16 minor girls, who had been exploited.

Elsewhere, reporters of local media agency Kookmin Ilbo discovered about 25,000 users across 30 such Telegram chat rooms.

Other estimates from local media claim that there were up to 300,000 paying customers using similar chat rooms.

As he was moved away from a police station in Seoul, Cho said:

I apologise to those who were hurt by me. […] Thank you for putting a brake on the life of a devil that could not be stopped.

Nevertheless, he didn’t comment when reporters asked if he admitted to the allegations.

He is charged with abuse, threats and coercion, and violating the sexual abuse act, the child protection act, and the privacy act.

Although the police haven’t confirmed it yet, there are reports that a local crypto exchange traced the crypto transactions and found out that some of the fee-paying members were popular artists, professors, sports celebrities, and startup founders and company CEOs.

Who is Cho Ju-bin and How Did the Chatrooms Operate?

The child porn suspect is a 24 year old man nicknamed “baksa,” which translates as “doctor” or “guru.” He managed the Telegram chat rooms where videos of child abuse were shared in exchange for payments. Cho charged the viewers in crypto, which made it difficult for the police to trace and shut down the chat rooms. However, given that South Korean law requires all crypto exchange clients to pass through KYC/AML verification procedures, the platform could help authorities find members and understand the magnitude of the incident.

So far, the police have tracked down 124 individuals related to the case. Cho and 17 others have been detained.

Korean newspaper, Kookmin Ilbo, said that each of the eight “nth rooms” shared videos from three to four girls who had been blackmailed. The girls were lured by chatroom operators who promised modeling or escort jobs.

Crypto Has Previously Been Praised by Pedophile Jeffrey Epstein

While it’s not the problem of the crypto space, it is not the first instance when criminals prefer or praise Bitcoin and its brethren.

Billionaire and sex offender Jeffrey Epstein, who was in the middle of a sex slave scandal that involved sex trafficking among many other horrific crimes, praised Bitcoin and the technology underpinning it.

Interestingly, last year, MIT’s Media Lab director Joichi Ito was forced to resign after the New Yorker revealed that he attempted to hide financial contributions from Epstein. But besides managing MIT’s lab, Ito also set up the Digital Currency Initiative (DCI) at MIT, helping Bitcoin go through some of its most difficult days in 2015.

At the time, when nonprofit Bitcoin Foundation experienced “funding constraints,” the DCI offered full-time positions to Bitcoin core developers, including Gavin Andresen, Cory Fields, and Wladimir van der Laan.

Do you think that all crypto exchanges should get clients’ personal details? Share your thoughts in the comments section!


Images via Shutterstock



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Nano coin review: beginner’s guide 2019 https://thebitcoinexaminer.com/2020/03/26/nano-coin-review-beginners-guide-2019/ Thu, 26 Mar 2020 08:55:34 +0000 https://thebitcoinexaminer.com/2020/03/26/nano-coin-review-beginners-guide-2019/

If you’ve ever heard of Raiblocks, then you know of Nano coin. Nano is their new name and it was formerly known as Raiblocks. A rebranding occurred to make the name less technical and more easily understood by the masses. The coin makes use of advanced technologies dropping the concept of a single blockchain. Therefore, Nano is able to overcome a number of the scaling concerns that beset the Bitcoin and Ethereum approaches to blockchain. This Nano coin review will dig deeper into what Nano coin is, what is does and why you should check it out.


What Is Nano coin?

Nano is attempting to become what Bitcoin sometimes struggles to be. A fast and efficient alternative to fiat currency.

In Nano’s white paper, the development team raises concerns over the practicality of Bitcoin as a common currency. The concerns are as follows:

  • Scalability issues have users facing high transaction fees
  • Bitcoin’s high computational latency makes for an average transaction time of 164 minutes.
  • Bitcoin’s proof of work consensus uses an estimated 27.28TWh annually, an average of 260KWh per transaction.

On a technical level, Nano is a trustless cryptocurrency with low latency. Rather than being based on a blockchain, it uses directed acyclic graph (DAG) technology and block-lattice architecture.

This also allows each account to have its own blockchain (an account-chain).

The consensus mechanism used by Nano is Open Representative Voting (ORV), a form of Delegated Proof-of-Stake (DPoS).

A key benefit to using DAG technology is high scalability along with lightening quick transactions. Add these qualities to no fees, as a product of design decision, then it’s a potent offering in the blockchain space.


How Nano coin improves Cryptocurrency usage

Nano has some great benefits which push itself into a great position as a growth crypto. It’s free of fees, transactions are super quick and it can scale effectively.

The super quick transaction time is a strong feature of the coin. By implementing a dual-transaction mechanism, it’s up to both the receiver and sender of funds to verify a transaction. This eliminates the need for miners and creates a pathway for rapid and feeless transactions.

Nano transactions video explanation – Nano coin review cryptocoindude.com

Nano is scalable. All transactions on Nano are handled on the accounts blockchains and verified by principle representatives. This drops the idea of block size issues because nodes are not responsible for maintaining a vast record of all network transactions. Nano only needs to store the individual account balances of each account-chain rather than their entire ledger.

For example, compare this Bitcoin’s currency scalability. More information is stored, sluggish transaction times and high fees. Nano’s account-chains make for a lightweight infrastructure. Consequently people cite this pathway as the next evolution of blockchain. What do you think?

Nano is energy efficient. The dPoS system avoids the huge energy consumption and expensive mining hardware required by Proof-of-Work cryptocurrencies.


Nano coins (or tokens as they are)

Initially, the supply of NANO was released via a faucet.

That faucet no longer exists. Now to get hold of Nano coins they must be bought.

Nano can be bought via fiat at Bitvavo.com or at Bitinka.com which has USD and EUR pairs for Nano.

Alternatively, Binance exchange is the largest exchange for NANO and it’s also offered for sale at other exchanges such as Kucoin. The most common purchases are made with BTC, ETH or USDT.

Once you have bought Nano, then you’ll need to find somewhere to store it over the longer term (storing on exchange hot wallets is never the best bet). The following wallets are good places to store Nano Coin:


The history of Nano

Like most cryptocurrencies, Nano or Raiblocks as it was know has a colourful history. For example, the coin’s community took a bit of a drop kick in the wake of the Italy-based Bitgrail cryptocurrency exchange’s collapse in early 2018.

In February 2018, a hacker or group of hackers stole roughly $150 million worth of XRB tokens from Italian cryptocurrency exchange Bitgrail.

The fallout from this event was particularly ugly. Bitgrail blamed the developers of XRB. Nano/RaiBlocks blamed the lack of security at Bitgrail.

You get the picture.

Nearly one year after Francesco Firano, the owner and operator of the Bitgrail cryptocurrency exchange, announced that the exchange had lost 17 million NANO (approximately $ 170 million), an Italian Bankruptcy Court and a court-appointed technical expert concluded that Mr. Firano (“The Bomber” as Mr. Firano called himself on social media) was at fault for the loss and is required to return as much of the assets to his customers as possible.

The ruling is a landmark decision that sets an important precedent for the protection of cryptocurrency users worldwide. For a full in-depth examination of the event, check out the BitGrailVictimsGroup’s post over on Medium.

However, this did not finish Nano off. Like so many examples in the crypto ecosphere, the stronger coins learn, adapt and move on with their projects.


Nano coin review – final thoughts

Nano could very well provide an alternative to Bitcoin’s scalability and latency issues. Likewise it could tackle energy consumption that has come to define proof of work mining. If any cryptocurrency is to become a viable alternative to fiat, then this is the approach it will need to take. Quick, safe and zero cost to the user. Maybe, in the next few years, when you go into Starbucks, it will be Nano coin that you will be using to buy your Mini Matcha Green Tea Crème Frappuccino. You never know!

If you likes this Nano coin review, or are a fan of the Mini Matcha Green Tea Crème Frappuccino, please share our post on your favourite social media channel below. Thank you in advance.

For further information on all things Nano visit this excellent curated Nano information site.



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