Lis 11

Bitcoin ATMs Have Spread to 4,000 Locations Globally

Numerous signs of maturity can be noted across the cryptocurrency industry. A growing number of Bitcoin ATMs is making their mark on the world. This month, the number is expected to surpass the 4,000 milestone.


Another Milestone for Bitcoin ATMs

Making cryptocurrency more accessible remains a key priority. Bitcoin ATMs have their role to play in this regard. These machines make it easier to buy bitcoin and altcoins with fiat currencies. Nearly 4,000 of these devices can be accessed on a global scale.

It is a low number compared to bank ATMs, but more devices are brought online every single day. Currently over 6 Bitcoin ATMs come online every single day.

Bitcoin ATMs Spring up Across Utah... ish

In May, Bitcoinist reported on the 3,000 location milestone for Bitcoin ATMs worldwide.

North America is the place to be for accessing Bitcoin ATMs. The continent controls 71.3% of the market at this time. Europe is the somewhat surprising second entrant on the list. Nearly one in four devices can be found in top European cities. Asia, while quite prominent in cryptocurrency trading, only houses 2.56% of all Bitcoin ATMs. Oceania, South America, and Africa are even further down the rankings.

One peculiar trend is how operators are not just focusing on Bitcoin. Over six in ten machines support altcoins in various degrees. Litecoin is the most popular altcoin offering, followed by Ethereum and Bitcoin Cash. Support for Dash, Monero, Dogecoin, and ZCash also appears to be on the rise. Additionally, nearly four in ten Bitcoin ATMs let users both buy and sell cryptocurrency.

Manufacturer Competition Heats up

In the early days of the Bitcoin ATM industry, Lamassu was the most prominent company. That situation has changed over time. Its current market share sits at 10.96%, making it the third-most common manufacturer. Genesis Coin currently maintains a small lead over General Bytes.

Further down the list, names such as BitAccess, Coinsource, Covault, and OrderbobATM are also trying to increase their market position. New producers have also come to market over the years. BitxATM, CoinOutlet, Bitnovo, and DOBI ATM are just some of the up-and-coming manufacturers. This level of competition is another sign of Bitcoin’s maturity. Increasing exposure for cryptocurrency will be a vital aspect of reaching mainstream adoption.

One aspect of Bitcoin ATM services which needs to be improved upon is transaction fees. Buying cryptocurrency remains subject to an average fee of 8.85%. Selling cryptocurrency is slightly cheaper, at a cost of 7.9%. Compared to using normal exchanges, these costs are quite steep. At the same time, the level of convenience is very different. More convenience usually leads to higher premium fees in the financial industry.


Images courtesy of Shutterstock, coinatmradar.com

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Říj 25

Australia Post Delivers ‘Buy Bitcoin’ Service to Its 11.7 Million Customers

One of Australia’s oldest institutions, Australia Post, has announced that customers will now be able to buy bitcoin on participating exchanges within minutes through its Digital iD service.


Australia Post Delivers Bitcoin

Now Australians will be able to buy bitcoin through their post office. Australia Post lets users sign up to local Bitcoin exchanges through its Digital iD service, which eliminates the need to take selfies and verify documents.

Think ‘Log in with Facebook or LinkedIn’ button, but for buying BTC 00.

Brisbane-based Bitcoin exchange, Digital Surge, for example, is among the first adopters of the Digital iD platform, local news outlet Micky reports.

Director of Digital Surge, Josh Lehman, says the new service helps speed up the registration process that could discourage many potential users.

“Digital iD allows us to verify the identity of a prospective Bitcoin buyer in minutes,
instead of the days it takes other exchanges,” Mr Lehman explained.

For the first time, an Australian can log on to a computer, punch in their driver’s licence or
passport details, and be buying Bitcoin within minutes.

Digital iD also works with Australian companies Coinjar and Coin Loft, and could boost confidence for potential investors, who were previously reluctant to submit personal data to questionable online services.

Digital Identity Service Struggles

Australia Post has struggled with its Digital iD program, however, with budget hand staff cuts amid controversy and a potential conflict of interest with another government digital ID program, according to local news portal Innovationaus. In addition, an attempt to gauge the possibility of private sector funding has also been “halted.” 

The Digital iD project was rolled out earlier this year after development began in 2016 with 13 participating organizations, a number which has now grown to over 40, including Queensland Police, CUA, and Airtasker.

The process is simple. Customers submit their national ID such as a driver license or passport once, and then only use a smartphone app and QR codes instead. But ultimately, Australia Post’s Digital iD service does store all of this personal information and (purportedly) lets users share only the bits of data that are required for verification on participating platforms. 

“Digital iD gives people more control over the personal data they share with organizations,” General Manager of Australia Post’s Digital iD, Cameron Gough, says. 

Australia Could be an ICO Hub

A Privacy for Usability Tradeoff

Using this new way to buy bitcoin in Australia may indeed become the easiest method currently available. At the same time, there is a tradeoff for people who value privacy.

In June, Bitcoinist reported that the Australia Taxation Office (ATO) announced it will collect Capital Gains Tax (CGT) on cryptocurrency gains. In other words, users should expect to pay capital gains tax since their newly-purchased bitcoin can be easily traced to their digital ID.

Nevertheless, this has not stopped Australians from buying bitcoin as the number of cryptocurrency holders has nearly tripled since the beginning of 2018. Therefore, Australia Post, which services 11.7 million addresses across the country based on the latest data, could attract some new buyers of bitcoin who prefer to trust a government corporation over some off-shore exchange.

Would you use Australia Post to buy bitcoin? Let us know below!


Images courtesy of Shutterstock

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Srp 02

Indacoin: Buying Bitcoin, Litecoin with a Credit Card

Source: bitcoin

Indacoin

Indacoin is an exchange service that allows users to buy bitcoin and litecoin with debit or credit cards. With customers across the world, in areas such as the US, Canada, Europe and the CIS region, this platform aims to make bitcoin more accessible to the average person.

Disclaimer: This article was sponsored by Indacoin. Bitcoinist is not responsible for this firm’s products and/or services.

How Indacoin Works

 To use the service, customers enter a credit card number, along with a valid phone number and email address. After specifying how much bitcoin or litecoin the customer would like to purchase, users enter the bitcoin address where they would like to have their coins deposited. Indacoin notes that all details provided must match customer bank record.

After completing this process, Indacoin will purchase the cryptocurrency and then send it to the provided wallet address. According to the website, coins should appear in the customer’s wallet within 10-15 minutes after the order is completed. Indacoin transactions should appear on the customer’s credit card statement as “indacoin.com +44 207 048 25 82.”

The Indacoin service can be used with both USD and EUR-denominated credit cards, making debit and credit card bitcoin purchasing available to a large portion of the global cryptocurrency community

New clients will have purchasing limits during their first month of using the service. First-time users will be able to buy up to $100 in bitcoin with their bank cards. After four days, users will be able to make a second purchase up to $200 dollars. These limits are in place for one month, after which users can purchase bitcoin and litecoin with no limitations.

For those who would like to earn discounts on their purchases, Indacoin’s affiliate program allows individuals to share referral links on social media, giving them discounts based on the dollar amount of the cryptocurrency purchased through the referral link.

Customers seem pleased with Indacoin’s bitcoin purchasing service, with several testimonials posted on the company’s website.

“I have bought 5 bitcoins with my Brazilian credit card,” Rafael de Toledo says. “It was simple and safe, I’m really glad about the service!!!”

Anna Shadcheva from Russia recommends the service for “anyone [who] wants to buy bitcoins with a credit card.” “It took less then hour [sic] to receive bitcoins,” she says.”

The list of positive customer reviews continues, with other people from  France, Netherlands and Indonesia praising the website for its effective bitcoin purchasing service.

Indacoin also hosts a trading platform, where people can buy and sell bitcoin and litecoin in a more traditional exchange environment. Traders can deposit money into their Indacoin trading wallets with debit and credit cards, as well as online fiat wallets such as Payeer, PerfectMoney and OKPay. Users can withdraw money from the exchange into their cryptocurrency wallets, and can use Payza for fiat withdrawals.

For more information about Indacoin’s bitcoin purchasing service, view their Frequently Asked Questions page.

To check out the bitcoin and litecoin exchange, visit Indacoin’s website.


Images courtesy of Indacoin

The post Indacoin: Buying Bitcoin, Litecoin with a Credit Card appeared first on Bitcoinist.net.

Indacoin: Buying Bitcoin, Litecoin with a Credit Card

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Dub 16

CEX.io Adds Ether Trading Support to Crypto Exchange

Source: bitcoin

CEX

The CEX.io bitcoin exchange has recently launched support ofr ether trading, allowing customers to buy and sell the token used to power the popular Ethereum platform. The exchange supports exchanging ether for both bitcoin and US dollars.

Disclaimer: This article was provided by Bitcoin PR Buzz. Bitcoinist is not affiliated with the firms represented by Bitcoin PR Buzz, and is not responsible for their products and/or services.

This news comes after the recent ether price explosion. Even after the drop following the initial rally, ether’s market capitalization is still over $600,000,000 USD at press time, placing it in second place under Bitcoin.

By adding support for ether trading, the exchange will provide ether traders with their famous user-friendly service, allowing them to trade ether for bitcoin as well as buying ether with Visa or MasterCard.

In a press release, the exchange’s CEO Oleksandr Lutskevych stated:

“Ethereum is a unique and one of the most promising projects within blockchain industry.As the Ethereum market develops, we found it extremely important to support innovations and launch Ether trading on CEX.IO.”

According to the exchange, “ether is crucial for developers who want to build apps using the Ethereum blockchain.” They also believe that people wanting to utilize smart contracts will come to rely on ether and the Ethereum platform. By adding trading support for ether, the exchange aims to make the Ethereum platform more available to a broader section of the cryptocurrency ecosystem.

About CEX.IO

CEX.IO is a UK-based Bitcoin exchange established in 2013. CEX.IO claims to provide the best experience of buying Bitcoins with credit cards and debit cards. The assertion is based on the exchange’s ideal conditions for quick and successful processing of card payments, the wide range of acceptable payment cards, and numerous positive feedbacks from users. CEX.IO provides steady services backed by cold cryptocurrency storage, financial viability, and profound legal compliance.

To learn more please go to:

About Bitcoin PR Buzz:

Bitcoin PR Buzz has been proudly serving the PR and marketing needs of Bitcoin and digital currency tech start-ups for over 2 years. Get your own professional Bitcoin and digital currency Press Release. Click here for more information.


Images courtesy of CEX.io

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CEX.io Adds Ether Trading Support to Crypto Exchange

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Úno 16

BTCDirect: Making Purchashing Bitcoin Easier

Source: bitcoin

BTCDirect

The world of Bitcoin and digital currencies allows for the creation of many different business models, some of which improve upon existing financial solutions. Buying or selling Bitcoin through an exchange is often a hassle, but there are services which make the process a lot of more streamlined. BTCDirect has a unique approach to the Bitcoin exchange concept, as they are more of a brokerage than a regular exchange.

Also read: Bitcoinist Weekly News Re-Hash: Valve Accepting Bitcoin, Antonin Scalia Dead

Different Approach Leads To More Convenience

One of the main hurdles to overcome for digital currency adoption is the mental barrier people are faced with when showing an interest in Bitcoin. Obtaining their first share of the popular digital currency can be a struggle as there are very few convenient methods to purchase Bitcoin within minutes. In most cases, consumers are left with bank transfers, which can take several days to complete.

BTCDirect is a European exchange attempting to remove this entry barrier from the equation. Rather than positioning themselves as “another” Bitcoin exchange, BTCDirect will act as a broker and execute orders on behalf of its customers. All transactions are completed through a variety of international Bitcoin exchanges, guaranteeing there will always be enough liquidity to accommodate for user requests.

Furthermore, the European Bitcoin broker is accepting a variety of convenient payment methods that allow for purchases to be completed within two minutes of starting the process. Among these accepted payment methods are options such as Bancontact/Mr. Cash, iDeal, credit cards, and Sofortbanking. All of these payment methods are subject to confirmation in a matter of seconds, making for a smooth transaction on both sides.

Buying Bitcoin through BTCDirect does require verification. When customers want to raise the limit, they will be going through a verification process that is rather unique in the world of Bitcoin. Instead of asking users to send a scanned copy of their user ID and a proof of address, BTCDirect will verify one’s identity through a Skype video call. By showing your id/passport, the support agent will activate and upgrade your account on the spot. This model allows users to register and purchase bitcoin with their payment method of choice within 10 minutes

As BTCDirect CEO Mike Hutting mentioned in an interview earlier, the company has to comply with European KYC and AML regulations. Using accessible and convenient verification procedures through Skype or live chat makes it easier for novice users to get up and running in a matter of mere minutes.

Unlike what most people assume, Bitcoin is not associated with any form of anonymity. BTCDirect is a firm believer of how online purchases should not be anonymous, as there is no way for companies to be compliant and offer anonymity at the same time. Most BTCDirect users acknowledge that fact, though.

BTCDirect Looks At Insured Offline Bitcoin Storage

It is important to note BTCDirect aims to be more than just a broker for buying and selling Bitcoin throughout Europe. The company is planning to explore opportunities in the world of insured offline cold storage. Offering such a feature would keep consumer funds safe from cyberattacks, which will, in turn, help put people’s minds at ease.

The concept of Bitcoin cold storage is nothing new under the sun, as various [mobile] wallet solutions offer a similar feature. However, when it comes to novice users, they will need to be sure their funds is kept safe from all types of harm. Bitcoin is a learning curve, and not everyone will set up a Bitcoin wallet on their computer or mobile device. Having a cold storage solution at the disposal of the user while they learn more about how to set up their own wallets is a great move by BTCDirect.

What do you think of BTCDirect? Let us know in the comments below!


Source: News Tip Via Email

Images courtesy of BTCDirect, Shutterstock

The post BTCDirect: Making Purchashing Bitcoin Easier appeared first on Bitcoinist.net.

BTCDirect: Making Purchashing Bitcoin Easier

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Úno 05

Simplex Offers Bitcoin Exchanges Risk-Free Credit Card Purchase Solution

Source: bitcoin

Bitcoinist_Buy Bitcoin

Buying Bitcoin for the first time remains a major struggle for novice digital currency users. Even though there are plenty of exchange platforms to choose from, as well as peer-to-peer solutions such as LocalBitcoins, people want more convenient options. Simplex is a new startup that wants to facilitate the purchase of Bitcoin through credit cards.

Also read: NXT Announces Version 1.7.4!

Simplex Unifies Bitcoin And Credit Cards

For quite some time now, a lot of people around the world have been looking to buy Bitcoin with their credit card in a convenient way. But there is a valid reason so few Bitcoin exchanges are dealing with credit card payments, as there is a high fraud rate. Funds can be charged back from a credit card payment, but Bitcoin transactions can not, which puts the exchanges at a severe disadvantage.

Simplex, an Israeli Bitcoin startup, may have solved the problem, though. Their service will give Bitcoin exchanges access to an API that makes accepting credit card payments risk-free for them. Not only will this help Bitcoin in gaining higher adoption rates, but it would also further bridge the gap between traditional finance and digital currency.

Up until this point, buying Bitcoin from an exchange usually means consumers have to send a wire transfer. Depending on the region where they live, these transfers can be anywhere from instant to taking five business days to complete. Needless to say, this is far from a perfect solution, although it offers the best financial protection for Bitcoin exchanges.

At the same time, various banks around the world have begun to block transfers made to either buy or sell Bitcoin. These restrictions are hurting the digital currency ecosystem in the long run, as consumers get the idea Bitcoin is unobtainable except by a select few. Plus, not every country has their own exchange, making international wire transfers harder and more expensive.

The main goal of Simplex is to provide convenient and frictionless purchasing methods for Bitcoin. By removing some of the restrictions associated with wire transfers, the purchase should complete almost instantaneously. Every partner will have their payments processed by Simplex, removing any risks associated with this payment provider for the exchange or broker.

Former PayPal Employees At The Helm

It hardly comes as a surprise to hear former PayPal employees are venturing into the world of Bitcoin and digital currencies. Both Netanel Kabala and Erez Shapira have worked many years for the traditional payment processor, and their knowledge will be of great value to the service offered by Simplex.

Speaking of which, the company has allegedly processed over US$3.5m in transactions since going in open beta twelve months ago. That success has attracted attention from investors, including Bitmain and Cumberland, and the recently successful funding round will help the company launch in full over the next few months.

What are your thoughts on the service offered by Simplex? Let us know in the comments below!

Source: Finextra

Images courtesy of Simplex, Shutterstock

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Simplex Offers Bitcoin Exchanges Risk-Free Credit Card Purchase Solution

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Led 09

Stephen Roger Rowlison Launches SMS Bitcoin Service

Source: bitcoin

Stephen Roger Rowlison Launches SMS Bitcoin Service

All over the world, more services are becoming available to consumers who are looking to buy Bitcoin through a convenient method. Over in Australia, SMS Bitcoin is the latest company to offer this type of service, as consumers can sell bitcoins instantly, as well as get cash from bank ATMs. Furthermore, the service allows users to transfer funds by sending a text message.

Also read: Microsoft SIM Project Could Bring Thousands of Full Bitcoin Nodes To The Network

SMS Bitcoin – An Intermediary With Various Functions

It goes without saying a service like SMS Bitcoin – allegedly founded by Stephen Roger Rowlison – will act as a third-party service provider holding on to customer funds until the transfer has been fully completed. All user balances will be in control of Mr. Rowlison until the users decide to withdraw, either in Bitcoin or fiat currency.

The service provided by SMS Bitcoin may look a bit simplistic, but it seems to do the job in an elegant way. Because there is no need to install an app, nor a requirement to sign up for the service, there is little to no entry barrier to this platform. All a user needs is a mobile phone number to get started, and anyone using a burner phone will be reported to law enforcement.

Deposits to the SMS Bitcoin service can be done in cash through the Australia Post POLI, which will result in instant Bitcoin exchanges on the platform. The first deposit through this system is limited to AU$500, and once the bank indicates there is no fraud risk, transaction limits will be increased.

Such a service is not intended for people with less than legitimate intentions, as all of the SMS traffic is logged by government officials. This includes all messages sent by SMS Bitcoin on behalf of the user. Furthermore, Bitcoin is a very transparent system, so there is no point in hiding behind wallet addresses for long. The phone number provided by the user will be permanently linked to the Bitcoin address they use.

But SMS Bitcoin is not just about buying Bitcoin, as the platform is also intended to be used by those users who are looking to convert digital currency into cash. Funds can be withdrawn from any of the eligible bank ATMs, and transactions are valid for a maximum of 30 minutes before the PIN code expires.

Making Bitcoin Purchases A Bit More Convenient

Options such as SMS Bitcoin make the purchase of bitcoin a lot more convenient compared to using a traditional exchange platform, or even a Bitcoin ATM. Keeping in mind how this service is accessible to anyone with a mobile phone number, and there is no need to install a third-party application, this service could boost Bitcoin adoption in Australia and other countries.  

One thing to keep in mind at all time sis how SMS Bitcoin is a third-party service and users should never leave their Bitcoin balances in their wallets for too long. Once the purchase is complete, withdraw the funds to any wallet you control yourself, such as a mobile wallet or the QT client on your computer.

What are your thoughts on SMS Bitcoin? Do we need more services like these all over the world? Let us know in the comments below!

Source: SMS Bitcoin

Images courtesy of SMS Bitcoin, Shutterstock

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Stephen Roger Rowlison Launches SMS Bitcoin Service

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