Čvc 04

Japanese Cryptocurrency Exchange Zaif Adds XEM Trading Market

Source: bitcoin

Bitcoinist_New Economy Movement XEM

Japanese cryptocurrency exchange Zaif continues to make media headlines in quick succession as of late. The company announced on July 3rd how they had added the XEM cryptocurrency to their trading platform. Keeping in mind how XEM has seen a spectacular value increase over the past few months, this is not entirely surprising.

Also read: Litecoin Is Back: New Roadmap Signals the Start of a Renaissance

It is not uncommon for cryptocurrency exchanges to add new coins to their platform. The addition of XEM to Zaif is quite noteworthy, though, considering how the New Economy Movement concept has a huge following in Japan. In fact, Japan is the driving power behind the recent XEM price increase, which is now nearing the US$100m market cap.

Zaif Exchange Expands List of Supported Cryptocurrencies

The reason for XEM’s success can be attributed to Takao Asayama, CEO of the Zaif exchange. He is also the official spokesperson for New Economy Movement in Japan. As a result of his efforts, Asayama has been appointed as NEM Japan Director and represent the movement in the country from now on.

Dragonfly Fintech CEO Lon Wong told the media:

“It is timely that we can engage someone in Japan to spearhead the development and promotion of the NEM blockchain technology. Japan seems quick to jump onto this technology ahead of the rest of the world, although this solution was mooted and developed in the USA and Europe. Given Takao Asayama’s commitment and involvement, we are confident that he will be able to take NEM to the next level in Japan.”

Zaif has become quite a popular exchange platform in Japan, and it is considered to be one of the premier cryptocurrency platforms. Up until this point, only two currencies were supported: Bitcoin and Monacoin. As of July 3rd, users can trade XEM against the Japanese Yen. A Bitcoin trading pair for XEM will be added in the coming weeks.

The correlation between Zaif and New Economy Movement goes much further. The Mijin blockchain solution, developed by Zaif parent company Tech Bureau Corp, uses NEM blockchain technology. All of the pieces of this puzzle are falling into place as we speak. Exciting times are ahead for cryptocurrency in Japan; that much is certain.

What are your thoughts on the NEW concept and Zaif adding this cryptocurrency to its platform? Let us know in the comments below!

Source: Zaif

Images courtesy of Shutterstock, Zaif

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Japanese Cryptocurrency Exchange Zaif Adds XEM Trading Market

Čvn 06

Poloniex Exchange Confirms Funds Are Safe Despite Outage

Source: bitcoin

Bitcoinist_Datacenter Outage

Popular cryptocurrency exchange Poloniex is currently affected by an unexpected outage. According to the company’s social media accounts, a datacenter outage is to blame. All coins are safe, though, which is the most important news.

Also read: Chinko Project Asks Reddit How To Best Spend Bitcoin Donations

It is not the first time. Bitcoin companies are dealing with downtime these days. Just yesterday, BitGo was dealing with a severe DDoS attack, which made their services inaccessible. Moreover, all of the companies relying on their infrastructure were affected by this attack as well.

Temporary Issue Affects Poloniex Servers

But in the world of exchanges, things are very different. Every time a platform goes down temporarily, there is a significant cause for concern. Cryptocurrency enthusiasts have been burned in the past when exchanges suddenly went down or disappeared.Strangely enough, this usually seems to happen to some of the largest exchanges in the world at that time.

The collapse of Mt. Gox was the first major shock wave to hit the Bitcoin world many years ago. Ever since platforms such as Cryptsy and MintPal were all forced to shut down as well. Smaller exchanges have seen their fair share of data breaches and hacks too, which puts the community on edge every time there is a temporary outage.

Poloniex is the largest altcoin exchange in the world today, as they continue to dominate nearly every alternative cryptocurrency trading market. Especially Ethereum and The DAO tokens are seeing a lot of daily trading volume on these platforms. But now that Poloniex is temporarily offline, a lot of traders are panicking and show concerns over their funds.

Luckily, it looks like these worries are unfounded, as the Poloniex Twitter account states:

For the time being, it is unclear as to how long this outage may take, and what the potential consequences could be. While it is good to see Poloniex confirm all user funds are safe, users will remain edgy until they can access their accounts once again. It is positive to see the company warn people on social media, though, to avoid most of the panicking.

Do you have funds stored in Poloniex wallets, and if so, which currencies do you trade? Let us know in the comments below!

Source: Twitter

Images courtesy of Poloniex, Shutterstock

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Poloniex Exchange Confirms Funds Are Safe Despite Outage

Dub 23

Ethereum Standard DAO Framework Gains Support From Major Exchanges

Source: bitcoin


An interesting change is taking place in the world of exchanges right now, as many of the major platforms will be added the Standard DAO Framework in the coming months. Moreover, most of these exchanges now include a data field for Ethereum transactions, which opens up a lot of interesting opportunities.

Also read: Bitcoin Price Enjoys An Impressive Jump, Will it Endure?

Standard DAO Framework Integration Is A Milestone

People not versed in the world of Ethereum may have never heard of the Standard DAO Framework, but the concept is rather easy to explain. This new standard would allow any Ethereum user to interact with existing DAOs – as well as create new DAO tokens – through any of the participating exchanges.

What makes this solution so appealing is how all of this could be achieved through the exchange platform directly, rather than having to jump through several hoops. More importantly, DAO tokens can be created without a pre-existing Ethereum account. This would allow for the immediate creation and management of these tokens on that particular exchange.

Right now, this particular “Creation Module” will be integrated by Gatecoin and Bittrex shortly. Additionally, these two platforms want to make all of the DAO tokens on their exchanges tradable sooner rather than later. Users of these exchanges would then be able to create a DAO, and accept all of the supported cryptocurrencies and fiat currencies as payment.

The other main exchanges are looking to integrate the Standard DAO Framework as well over the coming months. Kraken, Bity, and ShapeShift are the other parties who have confirmed support for this open source initiative. By adding a data field to their local exchange offerings, users can directly interact with existing DAOs or call functions within existing smart contracts.

This news will elevate the Ethereum cryptocurrency to more than something that can “only be traded”. Instead, Ethereum becomes completely programmable, which will have a significant impact on future DAOs and Dapps that will be created. Whether additional exchanges will follow this lead by example, remains unknown for the time being.

What are your thoughts on the Ethereum Standard DAO Framework? Let us know in the comments below!

Source; Medium

Images courtesy of Ethereum, Shutterstock

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Ethereum Standard DAO Framework Gains Support From Major Exchanges

Dub 13

CEX.IO Adds USD and BTC Ethereum Trading Markets

Source: bitcoin


Many people know CEX.IO as a platform to buy and sell Bitcoin in exchange for various fiat currencies. But the company recently announced a new addition to this platform in the form of Ethereum trading. This modern digital currency can be traded against both Bitcoin and the US Dollar as of today.

Also read: BIT.AC Launches Innovative Multi-Currency Crypto Wallet Platform

CEX.IO Adds Ethereum Trading Markets

It is always positive to see digital currency exchange platforms expanding their offerings, and CEX.IO is doing exactly that. The addition of Ethereum to their list of tradeable currencies is quite noteworthy, as users will be able to trade ETH against both Bitcoin and the US Dollar from now on.

In doing so, CEX.IO joins a growing list of digital currency exchange platforms which have added Ethereum trading in recent times. Bitfinex, one of the world’s largest Bitcoin exchanges, gave in and added ETH trading a few weeks ago, which was followed by exchanges in Korea and Japan shortly afterwards.

The CEX.IO exchange is keeping tabs on the current trends and demands by digital currency traders, and the addition of two ETH trading markets seems to be a smart decision. Bearing in mind how platform users can use their plastic cards to buy digital currency, this news opens up exciting opportunities for the Ethereum community.

Keeping in mind how the Ethereum price is currently in a slump, it will be intriguing to see how this decision by CEX.IO will play out in the long run. Digital currency traders have been selling their Ethereum across all exchanges for the past few days, which has lead to a decrease in overall market capitalization. However, Ethereum remains the second largest digital currency in the world, according to its market cap.

The biggest interest in the Ethereum ecosystem comes from developers who are exploring blockchain technology and smart contracts. The Ethereum ecosystem seems to lend itself towards the developer crowd, and CEX.IO decided it would be a good idea to add ETH trading and give everybody a chance to buy some Ether through convenient payment methods.

Based on the information we have received, CEX.IO servers over half a million users to this very date. Although the company has pivoted from their initial cloud mining business model, the exchange side of things appears to be a lot more lucrative for the UK-based company. Moreover, the platform is available in over 95% of the countries around the world, although availability in the US is limited due to FinCEN regulatory requirements.

What are your thoughts on CEX.IO adding Ethereum to their trading markets? Let us know in the comments below!

Source: Press Release Via Email

Images courtesy of Forex Bitcoin News, CEX.IO

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CEX.IO Adds USD and BTC Ethereum Trading Markets

Dub 01

Coincheck Offers Global JPY Trading Market For Bitcoin and Ethereum

Source: bitcoin

Bitcoinist_Global Expansion

Bitcoin companies expanding their services across borders will help to get the digital currency into the hands of as many people as possible. Coincheck, Japan’s largest bitcoin exchange which recently added an Ethereum trading pair as well, is expanding their service on a global scale. Anyone living inside or outside of Japan can now trade Bitcoin and Ether for JPY with their credit card or international bank transfer.

Also read: net-ARB and BTCJam Fallout Highlights Necessity of Smart Contracts

Coincheck Bitcoin And Ether Trading Opportunity

Even though the number of digital currency exchanges operating on a global scale has grown significantly over the past few years, very few of these platforms let users trade against JPY. Or to be more precise, it is all but impossible as a foreigner to trade Bitcoin and Ethereum against JPY, but that situation has come to change.

Now that Coincheck is opening their trading market to the public, parent company ResuPress Inc hopes to grow the monthly transaction volume and total user base exponentially. Keeping in mind how this exchange processes close to US$28m per month in trading volume and serves over 16,000 users in Japan, things are off to a good start for this platform.

Digital currency seems to be gaining more popularity in Japan these days, which is a positive trend for Bitcoin and Ethereum enthusiasts. Moreover, there has been a lot of demand from potential international clientele as to when Coincheck would open their exchange to people in countries other than Japan. Digital currency is available on a global scale, and supporting platforms and services should scale to that level as well.

The rise in popularity of digital currency in Japan can be attributed to some recent legislative changes. The Japanese Cabinet approved multiple new bills which will modernize the payments industry, and they even acknowledge bitcoin as a “useful currency”. Such news gave Bitcoin demand a healthy boost and is also part of the reason Ethereum was added to the exchange not too long ago.

But there is a major advantage for people who love arbitrage opportunities, as the BTC/JPY price is usually a lot of higher than any other trading market. Coincheck wants to attract international traders in this regard, as there are opportunities to make a good amount of money from experimenting with these margins.

International Payments Are Converted To JPY

Despite international users being unable to send a wire transfer in JPY, there is no need to despair. All of the wire transfers can be denominated in US Dollar, and the amount will be converted to JPY once it arrives in the Coincheck bank account. This conversion process is done free of charge, which is a nice bonus.

For the time being, Coincheck is running a campaign where 0% trading fees are implemented, which will run until April 14th. This applies to both the Ethereum and Bitcoin trading markets, and should help attract new customers from all over the world. Moreover, the exchange offers a lot of trading features, including leverage trading for both Ethereum and Bitcoin.

What are your thoughts on Coincheck expanding on a global scale? Will you look for arbitrage opportunities/ Let us know in the comments below!

Source: Coincheck Blog

Images courtesy of Coincheck, Shutterstock

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Coincheck Offers Global JPY Trading Market For Bitcoin and Ethereum

Bře 31

Mt. Gox Bankruptcy Trustee In Favor Of Publicizing Exchange’s Bitcoin Addresses

Source: bitcoin

Bitcoinist_Bitcoin Transparency

The Mt. Gox bankruptcy process that is currently taking place has been receiving a lot of attention from both Bitcoin enthusiasts and mainstream media outlets. Now that more and more information has become available, there is a new question waiting to be answered: should the identified Mt. Gox Bitcoin addresses be made accessible to the public? Some Bitcoin members seem to be for this proposal, whereas others are wondering what the of doing so would be.

Also read: Recent PayPal Exploit Shows Benefits of Decentralized Payment Solutions

Publicizing Mt. Gox Bitcoin Addresses

Considering how the bankruptcy trustee has collected most of the necessary information related to the Mt. Gox case, it seems to make sense if all of the identified Bitcoin wallet addresses are revealed to the public. After all, there are lots of people who would like to determine what has happened to the vast amounts of funds this exchange once held.

All of the bankruptcy reports make mention of how former Mt. Gox CEO Mark Karpeles claimed a hacker stole most of the funds, but it later turned out he took the funds himself. However, given the amount of bitcoins recovered to date, numbers do not seem to add compared to the total number of coins that were stolen.

Even though law enforcement agencies are working hard to find out where all of the missing funds has ended up, Bitcoin community members know a thing or two about tracking funds on the blockchain. Moreover, the bankruptcy trustee himself has shown an interest in releasing the complete list of Bitcoin wallet addresses identified with the Mt. Gox exchange.

A crowdsourced investigation into what has happened with the funds exactly would be kind of interesting although not everyone seems to be for this proposal. A lot of people want to keep this information private for privacy reasons, according to the thread on Reddit, which was to be expected. It is equally interesting to note how very few people have chosen to keep the addresses private for other reasons.

In total, over 80% of the people voting on this Reddit thread are for publicizing the Mt. Gox Bitcoin wallet addresses, which is quite a significant number. It remains to be seen how much good it would do if this list were to be publicized, although it might shed some additional light on the situation.

Are you for publicizing these Mt. Gox Bitcoin wallet addresses, or would it be a futile effort? Let us know in the comments below!

Source: Reddit

Images courtesy of Shutterstock, Mt. Gox

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Mt. Gox Bankruptcy Trustee In Favor Of Publicizing Exchange’s Bitcoin Addresses