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on 15th March, Bloomberg BNA reported that Stephanie Avakian (Enforcement Division Co-Director) of US SEC (Securities and Exchange Commission) has confirmed that “dozens” of investigations have been conducted by the agency in the cryptocurrency space.

Press Report

It was reported in February that subpoenas have been sent by SEC to companies, that are suspected of having trouble with the security laws through their contribution in the ICOs (Initial Coin Offerings). The comment of Avakain follows these press reports as she said;

“We are very active, and I would just expect to see more and more.”

cryptocurrency companies

Statement Released by Securities and Exchanges Commission (SEC)

A statement was released by SEC on 7th March, prompting cryptocurrency trading platforms that they are under the control of the SEC as it monitors them and as an outcome, it must register as exchanges. It’s already clear that SEC holds the main responsibility for proposing securities rules, enforcing federal securities laws, regulating the securities industry, and other actions, which includes the electronic securities markets. SEC supervision ended up as three different companies were suspended from trading due to queries related to the cryptocurrency.

What has SEC done against the crypto-related companies?

Over the past few years, the SEC has taken more steps against cryptocurrency companies that it was seeing as flaunting securities laws. Bloomberg also reported that since September 2017, many actions have been taken by the commission against companies.

On 14th March, Mike Lempres (Chief Legal and Risk Officer at Coinbase) has highlighted in a testimony (before Congress) that the major financial regulatory organizations haven’t agreed on the nature of cryptocurrency. In the US, the regulatory framework for cryptocurrencies still remains unclear.

For SEC, it is a security, while the CFTC (Commodity Futures Trading Commission) deliberates tokens as a commodity. If we talk about the IRS (Internal Revenue Service), it considers tokens to be property, while tokens are considered as currency for FinCEN (Financial Crimes Enforcement Network).

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BitPay – Accept Bitcoin Payments

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Bit pay accept bitcoin payments

Bit pay merchants are now accepting Bitcoin cash payments from now. Bit pay merchants including Zynga, Microsoft and virgin galactic to name a few, have started accepting bitcoin. They are not only entertaining the payments process but also all of the services in its full integration. The merchant crypto payment processor Bit pay has introduced these services free from

  • volatility,
  • fraud and
  • charge backs.

The processor offered by Bit pay not only fully integrate the services offered but also let you choose the currency you desire. You can either choose your local currency or bitcoins. Or if you are the market bull you can also choose both at the same time. Despite what currency you choose, there are guarantee exchange rates provided. This enables you to feel fully secure and confident about your choice and decisions.

So, no matter what Bit pay payment you choose, it will all be paid in cryptocurrency. Keeping it a safe and secure payment friendly blockchain as it claims. It also claims to remove, or at least minimize the block chain payments from clients around the world.

Bit pay has claimed to bear all the fluctuations bearing on your bitcoins deposited. All the dollars and pound you earn will rest with you, and all the fluctuated figures will be handled by the bit pay.

Another potential opportunity bit pay has given is the introduction of e-commerce. Users can generally buy a number of items indirectly with bitcoin cash. These e-commerce plug ins include

  • Shopify,
  • WordPress,
  • Magento, to name a few in general.

Bit pay aids to help not only support and comfort the users but also to make it easier and user-friendly for them too. Through this integration process, it has made it simple and effortless for a lot of blooming small internet businesses.

It aids in interaction with all of the consumer wallets to provide smooth and satisfying experience for every user. The aim is to facilitate every operator in their blockchain comfortable transitions, providing them with the possible conducts that suit their ways.

Bit pay has provided the handlers with in-person solutions. Keeping in mind that every individual has their own set needs and comfort levels for the transactions and results they opt for.

The transactions and procedures are user-friendly and easily understandable. The process has been designed in a simple way so everyone gets hands on it. The basic pattern is very similar to the bitcoin makes it more approachable and familiar to the users.

But what if the company sends you an invoice in your email? Bit pay has got you covered there too. The invoice can be redirected to the bit pay and can be chargebacks paid off with no hustle. There has been a great support and appreciation from the crypto community about the whole thought process and the mechanism in how this works.

So, what are you waiting for? Just go to bit pay and click ‘Accept Bitcoin plugin Are you ready to accept bitcoin? We are!

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Best Way to Buy Bitcoin with Bank Accounts

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Bitcoin is for the unbanked – and those who’d like to get unbanked. Transferring bitcoins to bank account is not viable, but buying is. There are several exchanges that allow the feature of buying bitcoin with the bank account. The most renowned ones being:

CoinBase:

CoinBase is the world’s biggest Bitcoin broker. In the United States, you can purchase bitcoins with an associated bank account by means of ACH bank transfer. In Europe, you can purchase with your bank account by means of SEPA exchange. Buys made with ACH take 5 days for the coins to be conveyed, while SEPA buys take under two days. CoinBase charges 1.49% fee on all exchanges. Americans may include a Visa or Mastercard as reinforcement to unlock instant payments by means of bank transfer.

BitStamp:

Bitstamp is one of the world’s biggest Bitcoin exchanges. It makes it simple for Europeans to buy bulks of bitcoins quickly with SEPA bank exchange. Practically anybody on the planet can utilize their bank account to send a wire exchange to Bitstamp. Fees may apply.

Kraken:

Kraken is the world’s biggest euro-designated Bitcoin exchange based on daily trading volume. It underpins bank transfers from US, European, Canadian, British, and Japanese clients and deposits can be made through SEPA exchange and international bank transfers.

So, these are the top three Bitcoin exchanges which allow their clients to buy bitcoins with the bank account. based on your location, choose one that you are most convenient with.

Tags: best place to buy bitcoins, buy bitcoin with bank account

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How to Store Bitcoin with a Paper Wallet

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One of the concerns every Bitcoin user has is how to keep their bitcoins safe from criminals. Well, the answer to that is to store them in a paper wallet, completely away from the internet in an offline environment.

If you do it right, you’ve just initiated one of the safest ways to store your bitcoin. Although, if you mess up in between, it’s still more secure than storing coins in any Bitcoin exchange platform.

Creating a Simple PapeWallet

Start off with a desktop that is clear from all virus.

If you’re having doubts about this, install a copy of the OS on a USB. This is just for safety purposes, you don’t have to do this step. Although, make sure your computer is completely free from all sorts of malicious and nasty viruses. We don’t want your operating system wiping out on you.

Use incognito mode on your browser, and go on to a bitcoin paper wallet creation site

The most well-known paper wallet creation site is said to be bitadress.org, so use your incognito mode to log on to the site.

Turn off your internet connection once bitaddress.org loads

After the site has loaded, turn off your Wi-Fi or unplug your ethernet cable. This will completely remove any leads for your private keys to leak through the internet without your knowledge.

Don’t worry, bitaddress.org was programmed to function perfectly fine even without an internet connection.

Follow the instructions given to the side and move your cursor randomly across the screen

This is the fun part. You’re required to randomly move your cursor around the screen to generate a seed that will be used by BitAddress to generate your personal wallet.

You have now created two QR codes with a combination of random letters and numbers

Congratulations! You’ve officially created your first paper wallet.

The two QR codes are:

  • Bitcoin Address- It will be a long string of letters and numbers jumbled together. This is what you’re going to be sharing with others in order to send and receive Bitcoins.
  • Private Key- This too is a lengthy combination of alphanumeric, but you’re supposed to keep this secret. You CANNOT share your private key with anyone nor can you store it on a computer and, definitely not on the web.

Remember this. If you lose your key, your bitcoins are lost forever and if someone else gets a hold of your private key, they can easily empty your wallet.

Keep your paper wallet safe

The next step is having an offline copy of your Bitcoin Address. While you’re still disconnected from the internet, print the address (make sure your printer is not connected through wi-fi either). Now you have created a hard copy of your Bitcoin address, which you can later add Bitcoin to for a final cold storage solution.

Always keep a backup of your wallet in another location and make sure it is completely secure. If someone gets their hands on it, you’ve lost everything.

Adding funds to your cold storage wallet

You need to use your online wallet for this. Scan the bitcoin address on the paper wallet or just copy it, then send your fund to your cold storage.

 

TIPS

  • Make sure to store your wallet someplace away from moisture, because you don’t want it getting damaged. Try storing it in a Ziploc bag or laminate it, in order to avoid it from coming in contact with any liquid.
  • Use an Operating System that never goes online, to prevent your PC from leaking out your private keys. Print your wallet offline and never go online from that computer in the future.
  • You can store large sums of bitcoins in your cold storage rather than carrying it with you in an online wallet. Keep small amounts of bitcoin in your online wallet for daily transactions and the rest offline, in a secure spot.

 

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Crypto Currency Facts – Everyone should Know Before Investing

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There is not much awareness conveyed to the public than the Cryptocurrency. Cryptocurrency which is an alternative to our fiat currency and banking system. The first ever cryptocurrency invented is Bitcoin which hold the title of new gold in the crypto industry due to its overall minimal value. Cryptocurrency differs from the conventional currency and banking system as it doesn’t depend upon the any country’s economy or its centralized banking system. After its introduction as Bitcoin in 2009 it reaches new heights and at the end of March 2018, the bitcoin was trading about 10,000 dollars as it started from 0 dollars. That huge rise in trading also increases its demand in the general public and even businessman. Every one lured with the huge profit of cryptocurrency and starting to invest in this cause.

cryptocurrency business

As Cryptocurrency is a digitalized way of payment and it acts as a decentralized system from the other conventional banking system, so there are several cryptocurrency facts that every person should know before investing in the cryptocurrency business. It is difficult to ignore the high rise in the price of cryptocurrency but before investing in the cryptocurrency business everyone should go through the following facts.

Cryptocurrency Facts

The Cryptocurrency is a digitalized currency in which there is a value assigned behind every digital token. But there are some facts which should be known to every investor starting to invest.

  1. De-Centralization
  2. High risk of loss
  3. No Fundamental Assistance
  4. Highly volatile
  5. High Prices due to legalization

De-Centralization

The most important fact about cryptocurrency is De-centralization that differentiates it from other centralized banking systems. De-centralization means there is no legal boundary or any regulations regarding the purchase and sale of cryptocurrency. The data of the cryptocurrency is not stored in any designated place so there always remains a high chance of loss in the crypto business.

High Risk of Loss

The threating feature about the cryptocurrency is having a risk of losing all because of following factors which are mentioned below

  1. No regulation
  2. Not having proper scrutiny
  3. Continuous change in prices

It means that you can lose all of your money you have invested in the cryptocurrency business because of improper regulation and exemption from the centralized system. The continuous change in prices tends to play a huge factor in the increasing chances of losing all of its investment.

For Example, if a person buys bitcoin today worth of 100,000 dollars but suddenly the very next day the prices of bitcoin lowered due to certain reasons causes a huge loss to the upcoming investor.

Not fundamental Assistance

Most of the countries in the world doesn’t support or give financial assistance to the cryptocurrency users and as a whole crypto-industry. There are no physical factors which help the regulatory authorities to derive its actual and proper value. The value of a currency depends upon the GDP of that country but as cryptocurrencies have no fundamental ties that make valuing of cryptocurrency difficult.

Highly Volatile

Cryptocurrency is highly volatile due to the fact that they don’t depend upon any centralized system or centralized exchange system hence they work on the multiple exchanges that create the high difference in the value of these currencies and that is the indication of volatility that should be kept in mind while trying to buy cryptocurrencies.

High Prices Due to Legalization

The most common factor in the increase of prices of these currencies is the legalization of these currencies in certain countries in the world such U.S.A and Japan. There is a sudden increase in the price of cryptocurrency when Japanese made it a legal way of payment.

Another factor which due to which the prices are so high are the crypto funds. Some initial startup offer bitcoin in return high cash for their assistance.

In the end, Cryptocurrency has many advantages and disadvantages over the centralized banking system and the high prices and instant profit lure many businessmen to start their own cryptocurrency business but before investing in the business everyone should know the certain cryptocurrency facts and go over them

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A Beginner’s Guide on Bitcoin – The Cryptocurrency

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A Beginner’s Guide on Bitcoin

Bitcoin is a type of cryptocurrency that is autonomous to the government, central bank or financial authorities. In other words, it’s a virtual currency which is only the controlled by those who own it.

Is Bitcoin Different from Traditional Currency?

In terms of usage, both currencies are same. Both can be used to buy goods and services and there are many merchants who accept Bitcoin as payment.

But going deep, we realize that there are some huge differences between the two currencies.

  1. Bitcoin is decentralized
  2. The currency is peer to peer and is only managed by users around the world
  3. Bitcoin transactions leave no traces behind which gives its users complete anonymity
  4. Bitcoin transactions do not need to go through a clearing house like Government, Visa Network, MasterCard, the central bank, etc. which means low transaction fees.
  5. Bitcoins are generated through Bitcoin mining – a process in which miners around the world assemble blocks and work on solving mathematical algorithms to generate new coins.
  6. Bitcoins are finite.
  7. Bitcoins are stored in a Bitcoin wallet and are protected by private keys.
  8. If lost, bitcoins are irrecoverable. The cryptocurrency is not insured or protected by any regulatory authority which makes it impossible to recover in case the coins are stolen or lost.

Who Created Bitcoin?

Bitcoin first appeared on the radar in 2009 and was created by a programmer called Satoshi Nakamoto. The inspiration behind the invention was to produce an electronic currency that would be independent of any third-party influence.

Considering the current situation and ever growing popularity, it’s safe to say that the goal is pretty much achieved.

Is Bitcoin Printable?

Bitcoin guide: I is a virtual currency and is not printable. The only way to generate bitcoins, as mentioned above, is Bitcoin Mining where individuals from different countries form a network which is open to anybody around the world.

The network also facilitates bitcoin transactions, making the cryptocurrency guide its own payment method.

Can We Create Unlimited Bitcoins?

There are specific rules and specification to create bitcoins. It has been decided that the maximum limit for bitcoins would be 21 million and this number is impossible to achieve until the year 2140.

The value of Bitcoin can be divided into several smaller portions. The smallest it can go is one hundred millionth of a coin and is called “Satoshi” – named after the creator of currency.

Final Word:

These are some of the characteristics and general facts about Bitcoin. Putting in a nutshell, the cryptocurrency is growing in popularity and the number of merchants accepting it as a method of payment is increasing each day. So, it’s safe to say that bitcoins will be playing a huge part in future transactions of money and goods.

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