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As investors look for a safe place to store their assets, Ethereum – the second largest cryptocurrency after Bitcoin – is getting a boost, thanks to Putin’s endorsement of the currency.

The Main Story:

Ethereum continues to skyrocket after the Singapore government and the Russian president Vladimir Putin publicly showed their support to the currency. The latest Monday morning saw the currency trading at $407.10, a record rise of more than 5000% since the start of 2017, where Ethereum was trading at just $7.98.

The Russian president and Vitalik Buterin ­– founder of Ethereum – recently had a meeting during St. Petersburg International Economic Forum. According to some experts, the occurrence of this meeting suggests that Russia is willing to open its doors to using cryptocurrency in an attempt to make their economy less dependent on oil and gas.

“The digital economy isn’t a separate industry, it’s essentially the foundation for creating brand new business models,” said Putin at the forum.

The recent shift in Putin’s stance has had an immediate impact as the Russian entities such as the State Development Bank VEB, have agreed to use Ethereum.

Meanwhile, the government of Singapore has also released a report about their recent attempts of using Ethereum blockchain and creating their own digital currency.

Japan is also issuing new rules about making Ethereum a valid form of payment. Some major companies such as Microsoft and Toyota have shown their support for Ethereum too.

In conclusion, Ethereum is getting support from all across the globe and is likely to experience even more boost in the coming days. So, if you are looking for a safe digital investment option, Ethereum is the way to go.

Story Credits: vanityfair.com

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Ripple Becomes The Second Only Currency With A Market Cap Of Over $100 After Bitcoin

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January 3 proved to be a historical day for Ripple. The crypto became the only currency after bitcoin to have a market cap of over $100 billion. At the time of writing, the valuation of Ripple is ~$121 billion.

$19 Billion Surge In 24 Hours:

Ripple’s native token, XRP, went up by more than 24 %, taking the coins value to $3. The huge value surge saw the valuation of ripple go from $95 billion to $116. As a result, Ripple further distanced itself from the third top cryptocurrency, Ethereum, and solidified its spot as the second most valuable crypto after bitcoin.

The daily trading volume of XRP is vigorously amassed in the South Korean market. Korbit and Bithumb are handling 40 percent of worldwide Ripple exchanges, representing more than $2.2 billion of Ripple’s daily trading volume.

On Bithumb, the second biggest digital money exchanging platform on the planet situated in Seoul, South Korea, Ripple stays as the most exchanged crypto, recording daily trading volume that is three times bigger than that of bitcoin.

Despite being the biggest and most liquid Ripple trade market, XRP is being exchanged with a high premium inside South Korean digital money market. On Bithumb and Korbit, Ripple is being traded at $3.5, with a 12 percent premium.

Brad Garlinghouse, the CEO at Ripple, and responsible for the advancement of the Ripple blockchain network, expressed that the “genuine use case” separates Ripple from other computerized assets.

However, as with any other digital money, Ripple met with some criticism. On January 3, P4man expressed that the vision of Ripple to develop into Swift 2.0 isn’t reasonable because for Ripple to become a Swift-like network, banks will need to pick up control over it.

“As for the moonshot of replacing Swift; most importantly, I have doubts over a worldwide agreement protocol being the correct approach. Banks presently control Swift. How likely is it they would give up control to a little startup and allow themselves to become indebted to its private currency, that they have no need for?” wrote P4man for Coindesk.

Story credit: ccn.com

Image: Google images

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Legendary Move by “Legends Club” In Las Vegas – Becomes The First Club To Install Bitcoin ATM

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Bitcoin ATM

Over the last few years, Bitcoin has seen an incredible growth in popularity. Numerous stores, corporations, and businesses have started accepting Bitcoin as a form of payment. But this is not the only interesting part. What’s more intriguing is the fact that Bitcoin is no longer confined to only  business community. The currency is starting to take on the entertainment industry just as well.

According to the latest news from LV, a Las Vegas-based club has installed a Bitcoin ATM and is planning to register members through Blockchain.

Peter Klamka – the owner of Legends Club stated: “It was an easy choice to make. The club is recently opened and judging by the traffic, it only seemed a natural location. It was something that I had always planned and there wouldn’t be a better time to pull this move off.”

Looking at Klamka’s history, it’s pretty obvious that the guy is filled with passion for Bitcoin. He operates a company named Bitcoin Direct, LLC, and had also installed a Bitcoin ATM in Mixed Martial Arts Studio in Las Vegas.

Interesting fact: The ATM is branded with one of the club’s strippers – adding some extra flavor to it. The members are also calling it the “Porn Star ATM”. The Porn Star ATM is the second that Klamka has branded. First one was Mike Tyson’s ATM.

While talking about his plans, Klamka proposed that he is also considering to brand sports and celebrity ATMs.

“I also think branded ATMs of any kind will bring new audiences and new users to digital currency,” he said. “Nick Blomgren (who runs the Legends Club as well as the mixed martial arts studio) and some of these performers are more willing to experiment and test ideas.”

“It is similar to branded slot machines that are everywhere in Vegas and in casinos in general,” Klamka said. “In a longer term, it will encourage business to embrace digital currency there are no chargebacks frauds and transaction fees are extremely low.”

“The goal is to make an item for organizations to help drive the business forward,” Klamka told CCN. “We’ve seen individuals wanting to take pictures beside these ATMs.”

“I also think that branded ATMs of any sort will pull new users towards cryptocurrency,” he said. ”

Why It Seemed Such a Perfect Fit?

The MMA community is closely allied with the club, and given the popularity of Bitcoin amongst the MMA community, it only seems natural to have a Bitcoin ATM at the club.

Famer Stephen Bonnar – club executive and UFC hall of Famer – has close ties with MMA fighters and is always working to assemble the MMA fighters as hosts, friends, and members of the club.

Bitcoin and Strip Clubs:

The Legends Room is possibly the first strip club in the world to accept Bitcoin payments in addition to accepting traditional payments for services that the club provides.

Moreover, the club is also working on the idea of registering membership through blockchain. The approach will allow the owners of Las Vegas nightclubs to rent memberships just like real estate.

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Why does IMF chief Christine Lagarde want to regulate the ‘cryptomarket’?

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Christine Lagarde, Chief of the International Monetary Fund (IMF), has said in an IMF blog post that the blockchain technology used to regulate cryptocurrencies can also be considered helpful in regulating and legalizing them.

In fact, it would prove to be a good news for crypto lovers as they have also been longing for the cryptocurrency to be legalized. Once it will be legalized, more people would get attracted towards it and the market ratio will automatically stabilize. According to some, the blog statement of Christine Lagarde can be considered as the first step towards the legal monitoring of cryptocurrency.

cryptomarket

In her above-mentioned blog, Christine Lagarde, appreciates the salient features of blockchain technology, which she refers to as an “exciting advancement that could help revolutionize fields beyond finance.” However, addressing the “dark side of the crypto world” she further explained that cryptocurrency market also needs legalized regulation in order to avoid illegal activities e.g; money laundering and funding terrorist activities around the globe. According to her some of the main features of cryptocurrencies is their anonymity which can inturn prove them safe for criminals and terrorists — that’s what makes them dangerous in short and blockchain technology is the only way to monitor what is actually going on in the world of cryptocurrency. To understand her statement further we must know what actually the Blockchain Technology is.

Blockchain Technology

Blockchain technology is the actual power behind Bitcoin, Ethereum, and other major cryptocurrencies. Technically, it is an openly accessible collection of financial accounts of all transactions which have been made in the crypto system since its starting point.

The reason behind Christine Lagarde’s blog statement

The main reason behind Lagarde’s statement is that she’s also well-aware of the financial stability faced by crypto-market during the past few months. At the same time the tremendous variations in the value of cryptocurrencies have also served to ignite her interest.

She further suggested that cryptocurrencies require the same sort of regulation as implemented on traditional currencies. However, she acknowledged that a lot of work needs to be done. She also suggested the use of biometrics and some other techniques like artificial intelligence, distributed ledger technology etc. could ensure the information-sharing between market participants and regulators.

Lagarde’s point of view is that with the help of modern technology, we can easily turn crypto-market for the public good, instead of making it a place of comfort and shelter for criminal minded people.

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Cheapest Bitcoin Wallets – Best Bitcoin Wallets 2017

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Before using Bitcoin for any bigger transaction make sure to what you have to know and what are some best ways to secure your Bitcoin wallet. Always keep in mind it’s your responsibility to decide about your wallet carefully. Adopt some better practices to protect your money. A Bitcoin wallet is a collection of some private keys and used to make transactions on the Bitcoin network.

Some best Bitcoin wallets 2017 are:

1- BitCoin Core:

Bitcoin Core is developed to choose which blockchain have valid transactions and the users only accept the transactions for that blockchain. It’s those users who keep Bitcoin decentralized. They run individually their personal Bitcoin Core full nodes and each full node individually follows the same rule to decide which blockchain is valid.

Some Bitcoin Core features are:

  • Full Validation
  • Better Privacy
  • Excellent Security
  • Better User Interface
  • Support the Network

2- Armory:

Armory is a full featured and most secure means available for the users and organizations to generate and store Private Keys. The Armory team is experienced in private key and cryptography ceremonies.  Armory established cold storage and distributed multi-signature. The Bitcoin cold storage is a system for storing Bitcoin safely on a fully air-gapped offline computer.  At Armory, we attempt to improve constantly the best Bitcoin wallet with some extra security features.

3- Mycelium Wallet:

With the Mycelium Wallet, you can send and receive Bitcoin by using your mobile phone. The Supreme cold storage functionality enables you to secure your funds 100% until you spend them.

Features of Mycelium Wallet are:

  • Provide 100% control over your Private-Key.
  • No blockchain download, just install and run in seconds.
  • Manage your multiple accounts and never recycle addresses.
  • Ultra-fast connection to a Bitcoin network with the help of super nodes.
  • Read only addresses and Private-Key imported for secure cold-storage integration.
  • Protected your wallet with a PIN.
  • Support for BIP38 Keys.
  • Compatible with other Bitcoin services.

4- MultiBit:

  • MultiBit enables your Bitcoin wallet to make easy and fast transactions. After the installation process, a wizard guides you through effective steps to create your wallet and its backup. In just a few moments, you’ll be ready to join Bitcoin economy and now you can handle your funds and wallets. Your wallet and its backup resides encrypted on your personal computer and never with a third party.
  • MultiBit adds an extra security layer for your bitcoins when used with KeepKey. KeepKey is USB device which stores and secures your Bitcoin.

5- Xapo:

Xapo Wallet offers a way to handle your funds when or where you want with just the click of a button. You can also manage your funds by sending an email and swipe of your Xapo Debit Card. Xapo iOS is your mobile Bitcoin wallet that combines industry-leading and convenience security to handle your bitcoins and sending currency to your family and friends. Simply scan a QR or wallet address or enter a name, or email to instantly send money worldwide.

Features of Xapo Wallet are:

  • Fully insured Bitcoin storage in the market.
  • Send and receive Bitcoin in just two clicks.
  • Two-factor authentications.
  • By sharing Xapo on social networks you can earn Bits.
  • Zero network transaction fees.

6- Wirex:

Anyone can get the best for digital and traditional currency. You can get an online banking account, cheap money transfer, worldwide issued Bitcoin debit cards, and much more in just one place.

Features of Wirex are:

  • Secure and Convenient: Secured with multi-signature and two-factor authentication.
  • Easy Access: Manage all your accounts, past transactions, and debit cards by using your smart phone 24/7.
  • Total Freedom: Send and receive currency from 130+ countries and with almost no limits.

7- BitGo:

Generally, Bitcoin wallets have just a single Private-Key to make your Bitcoin susceptible to misplaced or theft. The multi-signature technology of BitGo offers three keys for your wallet. BitGo does not have the facility to access your Bitcoin as other Bitcoin companies have. BitGo only holds one key which not enough for the transaction on your behalf.

If only a single key is compromised, your Bitcoin cannot be stolen. This makes BitGo almost hack proof. BitGo required 2F authentications and use high-level security measure to make a full protection of your Bitcoin.

8- GreenAddress:

GreenAddress is a safer Bitcoin wallet which provides you full control and it doesn’t compromise your privacy. Our pre-transaction 2-factor authentications and multi-signature wallet empower you with a supreme control over your transactions. GreenAddress never keep your Private-Keys, not even encrypted. We also make it fast to view and transfer your funds.

9- CoinBase:

CoinBase is the world-famous source to buy and sell Bitcoin.  It is CoinBase is also a popular Bitcoin and Ethereum wallet. CoinBase provides the facility to buy, store, use, and accept Bitcoin and Ethereum securely. You can experience a best digital currency managing on the mobile phone.

Some additional features of Coinbase wallet are:

  • Send and receive Bitcoin.
  • Track the Price of Bitcoin anywhere with the help of Bitcoin price charts, Bitcoin price alerts, and Bitcoin price ticker.
  • You can check transaction history, balance, and transaction details of all your accounts.
  • You can send Bitcoin and Ether via email.
  • Send via QR code with zero transaction fees.
  • You can set a password to secure the mobile app.
  • You can remotely inactivate your phone’s access if it’s stolen or lost.
  • Historical and real-time Bitcoin and Ether price charts.
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