Shakepay App Turns Spare Change Into Fractions of BTC

Shakepay App Turns Spare Change Into Fractions of BTC

Canadians can now gradually accumulate small fractions of BTC by rounding up their everyday debit card purchases with a mobile application called Shakepay. The company launched in 2015 operates multiple cryptocurrency services and its new Shakepay Change element aims to provide individuals with a frictionless way to buy BTC in Canada.

Also read: The Digital Revolution Increases Sovereignty

Shakepay: A Spare Change-to-Cryptocurrency App

Shakepay App Turns Spare Change Into Fractions of BTCThe Montreal-based financial technology company Shakepay provides digital currency applications for Canadians. Since 2015, the Shakepay application has provided users with the ability to purchase and sell bitcoin core (BTC) in a quick fashion. The company has serviced over 40,000 customers and has processed well over $30 million in BTC since its inception. The Shakepay Change feature is a new addition to the slew of applications created to make acquiring bitcoins easier. The change service will allow Canadians to purchase BTC with the spare change of rounded up debit purchases.

Basically, Shakepay Change users need to link a debit card to their Shakepay account. Then if they purchase anything, the application will round up each purchase to the nearest dollar. The leftover change is what is used to purchase BTC and then the platform adds the funds to the Shakepay wallet.

“Following Bitcoin, the entire suite of financial services is being rebuilt independently from the current financial infrastructure,” explained Jean Amiouny, CEO of Shakepay. “We believe enabling access to these services is paramount to the creation of wealth and economic freedom.”

Shakepay is a licensed money services business and can operate in any province throughout Canada. The company is backed by investors such as Boost VC and has also partnered with a Schedule 1 bank in order to facilitate the application’s payment processing. The Shakepay team believes Bitcoin’s innovation is important because “it enables wealth to be stored with an individual without the need for a third party.” The Shakepay application with the spare change service is available for Canadians using both Android and iOS mobile phones.

Not the Only Loose Change Crypto-Application

Shakepay App Turns Spare Change Into Fractions of BTCShakepay is not the first company to offer this type of cryptocurrency purchasing technique with rounded up debit purchases. Back in the spring of 2015, the project Lawnmower.io offered a spare change-into-bitcoin conversion tool that was tethered to Coinbase accounts. However, Lawnmower stopped offering the rounded change feature back in March 2016.

Then there’s another digital currency purchasing application that rounds up purchases called Coinflash. The Coinflash application gives users the ability to purchase BTC and ETH using spare change.

As far as Canadians are concerned, they can try the Shakepay platform to acquire small fractions of BTC. “Our mission is to create open access to building wealth and we’re setting out to have every single Canadian owning bitcoin,” Amiouny added.

What do you think about the Shakepay Change feature? Let us know what you think about this subject in the comments section below. 


Images via Shakepay, and Shutterstock. 


At Bitcoin.com there’s a bunch of free helpful services. For instance, have you seen our Tools page? You can even look up the exchange rate for a transaction in the past. Or calculate the value of your current holdings. Or create a paper wallet. And much more.

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Source: Bitcoinnews.com

‘What is Bitcoin’ Tops Google Questions Category for 2018

Google trends what is bitcoin

Interest in Bitcoin around the world isn’t waning, according to the latest data from Google Trends, as many people are interested in finding out ‘What is Bitcoin’ with BTC price down over 80% from its all-time high.


What is Bitcoin – Most Searched Term in US and UK

Despite a 15 month Bitcoin price low, interest towards the world’s largest cryptocurrency by market capitalization seems to be rising. Bitcoinist recently reported Bitcoin hitting a 6-month high in Google searches.

According to the latest data from Google Trends, the search term “What is Bitcoin” tops the charts in the “What is…?” category in both the UK and the US. The interest in cryptocurrencies doesn’t end with the market’s forerunner, though. “How to buy Ripple” is the fourth most searched phrase in the “How to…” category in the US.

“What is Bitcoin” is also the number one search term for 2018 in Romania.

South Africa Most Interested in ‘Bitcoin’

The term ‘Bitcoin’ seems to be most popular in South Africa at the moment likely due to political and economic uncertainty. According to Google trends, the interest there is higher than any other country in the world.

In the US, the island of Hawaii tops the charts, followed by California, Washington state, and New York – all known to be hotspots for cryptocurrency-related activity.

2018 has been far less favorable for cryptocurrencies as the market has entered a prolonged bear market. The year saw around $700 billion dollars wiped off the market’s cap, while Bitcoin (BTC) 00 has lost around 80 percent of its value.

Naturally, people become more and more curious about whether or not the cryptocurrency will restore its previous highs. Google trends confirm this, as one of the most popular related queries to “bitcoin” is “will bitcoin go back up,” which has soared 1,800% in the last 12 months.

Will lower prices attract more buyers and interest to Bitcoin? Don’t hesitate to let us know in the comments below!


Images courtesy of Google trends, Shutterstock

The post ‘What is Bitcoin’ Tops Google Questions Category for 2018 appeared first on Bitcoinist.com.

Source: Bitcoininst

The Daily: Uber Meets Bitcoin, Basis Stablecoin Shuts Down

The Daily: Uber Meets Bitcoin, Basis Stablecoin Shuts Down

In Thursday’s installment of The Daily, we report on a highly anticipated stablecoin project that’s failed before it’s even launched, and explore the strangely centralized world of crypto Twitter. First though, we’ll start with the news that a third party app has made it possible to pay for your Uber ride using BTC.

Also read: Benchmark University Study Shines a Spotlight on Crypto Assets

Fold Brings Bitcoin to Uber

The Daily: Uber Meets Bitcoin, Basis Stablecoin Shuts DownFold, an app dedicated to making it easy to spend BTC in the real world, has added one of its biggest integrations yet. “We are excited to welcome Uber to Fold lineup,” explained the team in a blog post. “You can now use bitcoin to purchase your next Uber ride. Simply select the dollar amount, send your bitcoin, and then ride safely to your next event.” The app, which also enables BTC to be spent at stores such as Starbucks and Dunkin’ Donuts, works by converting cryptocurrency into a corresponding gift card balance within the Fold wallet that can then be redeemed by scanning a code in-store.

Developers Pull the Plug on Basis Stablecoin

It’s being reported that Basis, the largest stablecoin project to date based on early stage funding, has been sunsetted. The algorithmic stablecoin, which had been categorized in the same bracket as coins like dai, raised $133 million in venture funding from the likes of a16z, Bain, DCG, Metastable, Pantera Capital, Polychain, Lightspeed, and Google Ventures. The bulk of that funding is now believed to have been returned, with the Basis team reportedly having been spooked by regulatory concerns. While the technical skills of the Basis team have generally been praised within the crypto space, not everyone was convinced by the merits of their algorithmic stablecoin. Back in May, Messari Crypto’s Qiao Wang predicted that Basis would “fail catastrophically”.

The Daily: Uber Meets Bitcoin, Basis Stablecoin Shuts DownCommenting on the rumored shutdown of Basis, Three Arrows Capital CEO Su Zhu wrote “I hope the industry thinks more critically about what the shape of a good project is in this space. You can’t just cobble together ex-bigtech/bankers, raise [nine figures], and then pop the champagne. More importantly I hope LPs ask their VCs harder questions.” Stablecoin skeptic Preston Byrne was equally unimpressed, linking to a blog he had penned a year ago in which he called Basis “the worst idea in cryptocurrency.”

Bitcoin Cash and Ripple Dominate Crypto Twitter

Social sentiment service The Tie has been looking at what crypto Twitter’s had to say over the last few weeks. It’s plotted the change in sentiment for the top five cryptocurrencies, with a view to extrapolating actionable insights for the benefit of traders. The platform found bitcoin cash (BCH) and ripple (XRP) to be the most active Twitter communities over the past month, the former on account of the hard fork that got everyone talking, and the latter because the Ripple army is famed for its slavish devotion to its altcoin through good times and bad. How much of that discourse comes from unique accounts, however, is debatable.

The Daily: Uber Meets Bitcoin, Basis Stablecoin Shuts Down

“While accounting for only 3 percent of overall trading volume, XRP accounts for 8.97 percent of total conversational volume on Twitter. On average, 50 percent of daily tweets come from unique accounts, which means that much of the conversation is driven by the same accounts,” reported The Tie. The platform shared the above image with news.Bitcoin.com, which it claims “highlights how XRP has a centralized strong community.” Its acolytes might harp on about ripple’s “inherently decentralized” nature, but the coin’s community is as centralized as it gets.

What are your thoughts on today’s news tidbits as featured in The Daily? Let us know in the comments section below.


Images courtesy of Shutterstock.


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Source: Bitcoinnews.com

Stuttgart Stock Exchange to Launch Crypto Trading Platform in 2019

Boerse Stuttgart

The Stuttgart stock exchange (Boerse Stuttgart) announced it will launch a crypto trading venue in the first half of 2019 through a partnership with solarisBank. 


‘Taking Trading in Cryptocurrencies to the Next Level’

In an announcement today, solarisBank revealed a key partnership that will bring a new product to the crypto market in 2019. Teaming up with the Boerse Stuttgart Group, Germany’s leading floor-based exchange for retail investors and second largest stock exchange, they will launch its crypto trading venue in the first half of 2019.

White Label Crypto Exchange Platform EXPREAD

Currently, investors in Stuttgart can trade securitized derivatives, equities, bonds, ETFs, and other financial instruments. But thanks to the new partnership, Boerse Stuttgart will be able to deliver its end-to-end infrastructure for digital assets announced back in August 2018.

solarisBank has an open stance on cryptocurrencies and became one of the first German banks to offer accounts to blockchain businesses in July of this year. Now the Banking-as-a-Service technology platform (with its own banking license) will help Boerse Stuttgart Group provide both technology and banking services.

CEO of Boerse Stuttgart GmbH Alexander Höptner enthused:

With its combination of technology and banking expertise, solarisBank is a great partner for us to offer central services along the value chain for digital assets. solarisBank’s Blockchain Factory supports us in taking trading in cryptocurrencies and tokens to the next level and in setting new standards in transparency and reliability.

Boerse Stuttgart Envisions ‘A Hybrid Future’

In what sends shivers down the spines of most traditional financial professionals, both groups share a vision for a hybrid financial future in which both fiat and cryptocurrencies co-exist. The partnership will allow for a reliable trading venue to come to market so that Boerse Stuttgart’s customers can gain access to digital assets in a regulated way.

Roland Folz, CEO of solarisBank commented:

We are very pleased that Boerse Stuttgart Group chose our Blockchain Factory around Peter Grosskopf and Michael Offermann as its trusted partner.

The platform will open trading with established cryptocurrencies Bitcoin and Ethereum. However, once the Group’s “ICO platform” has gone live, investors will also be able to access the tokens issued there and they will also be available on secondary markets.

Nasdaq Increases Exchange Customers and Looks to Police Crypto

Crypto may be experiencing a cold winter right now but there are still plenty of rays of hope for the year ahead. Not only US heavyweights Bakkt and Nasdaq are coming onto the scene, but Germany is also steaming ahead with crypto adoption.

The Boerse Stuttgart crypto trading venue will be for both retail and institutional investors who want to place orders similar to traditional securities trading. The platform also aims to bring much-needed transparency to the space with open order books that provide information on the current market situation and existing orders at all times.

The company is also seeking regulation as a Multilateral Trading Facility (MTF).

Will this help open cryptocurrencies to institutional investors? Share your thoughts below! 


Images courtesy of Shutterstock

The post Stuttgart Stock Exchange to Launch Crypto Trading Platform in 2019 appeared first on Bitcoinist.com.

Source: Bitcoininst

P2P Markets Report: Latin American Markets Continue to Post Record Volume

This past week has seen Latin American peer-to-peer markets continue to set records for trade volume. For the week ending Dec. 8, Argentina and Venezuela posted a new record for Localbitcoins trade when measured in fiat, while Colombia, Peru, and Venezuela also posted records for trade measured in BTC.

Also Read: Zebpay Exchange Now Live in 21 European Countries

Fiat Volume Records Posted by Argentina and Venezuela

Argentina posted a new record for fiat P2P trade volume on Localbitcoins this past week, with over 9.4 million pesos worth of BTC changing hands. The week also saw a significant uptick in the number of BTC traded, with the 65 BTC comprising the most bitcoins traded in a single week since March 2017.

P2P Markets Report: Latin American Markets Continue to Post Record Volume
ARS/BTC Localbitcoins trade measured in ARS

Venezuela set a new record in fiat volume for the third consecutive week, with 3.2 billion Venezuelan bolivars’ worth of trade. The week of Dec. 8 also saw the third consecutive record for trade when measuring in BTC for Venezuela, with 1,636 BTC changing hands.

P2P Markets Report: Latin American Markets Continue to Post Record Volume
VES/BTC Localbitcoins trade measured in VES

BTC Records for Colombia and Peru

660 BTC were exchanged for Colombian pesos via Localbitcoins this past week, the most in the market’s history. The same week also comprised the fifth strongest when measuring in fiat currency, with 7.1 billion Colombian pesos’ worth of trade taking place.

P2P Markets Report: Latin American Markets Continue to Post Record Volume
COP/BTC Localbitcoins trade measured in BTC

Peru also posted a new record for the number of BTC traded on Localbitcoins in a single week, with 213 BTC exchanged. This comprised the eighth strongest on record when measuring in fiat, with roughly 2.68 million Peruvian sol of trade.

P2P Markets Report: Latin American Markets Continue to Post Record Volume
PEN/BTC Localbitcoins trade measured in BTC

Chile and Mexico Post Strong Volume

The week of Dec. 8 was the sixth strongest on record for Chilean P2P trade, with 196.4 million Chilean pesos’ worth of BTC changing hands. The week also comprised the fourth strongest on record when measuring in cryptocurrency, with 69 BTC traded.

P2P Markets Report: Latin American Markets Continue to Post Record Volume
CLP/BTC Localbitcoins trade measured in BTC

Mexico also saw a strong week for P2P trade, posting the 10th strongest week on record for trade between BTC and Mexican pesos. The week also comprised the strongest since May 2017 when measuring in BTC, with 99 BTC worth of trade occurring.

P2P Markets Report: Latin American Markets Continue to Post Record Volume
MXN/BTC Localbitcoins trade measured in MXN

Do you think recent Latin American volume records will continue to be broken in the coming weeks? Share your thoughts in the comments section below!


Images courtesy of Shutterstock, Coin.dance


At Bitcoin.com there’s a bunch of free helpful services. For instance, have you seen our Tools page? You can even lookup the exchange rate for a transaction in the past. Or calculate the value of your current holdings. Or create a paper wallet. And much more.

The post P2P Markets Report: Latin American Markets Continue to Post Record Volume appeared first on Bitcoin News.

Source: Bitcoinnews.com

Stablecoins Hype? $133M Basis Project Shuts Down with No Warning

TL;DR

  • The promising Basis stablecoin had recently announced on its shutting down.
  • The reason for the shutdown is unknown, although it is speculated that it has something to do with regulatory uncertainty.
  • Experts warn that this can happen to other projects as well, for a variety of reasons, and that such events should be expected in the following months.

Basis stablecoin was one of the most popular and promising stablecoins over the past months. The project drove much attention and raised a total of $133 Million.

However, the project declared that it would be shutting down. Reports claim that the project will return most of the raised money to its investors. Among the project’s backers are Pantera VC, Google Ventures, DCG, MetaStable, a16z, and others.

The reason for the project shutting down seems to be regulatory issues after an initial attempt to launch its algorithmic stablecoin. The problems appear to be too complicated for the project’s team to solve, which is why Basis had to decide on shutting down the operation. It is currently not clear which regulatory agency has is the reason for this decision, or even what problems does the agency have with the token.

Basis also gave no previous hint of a project’s shutdown, and the announcement came with no prior notice. Basis itself is a non-collateralized algorithmic stablecoin, with its protocol implementing a second token known as ‘bond.’ This secondary coin needs to be purchased so that the primary one would have a stable value.

“Under the US laws, these secondary tokens are often classified as securities.”, as the situation was recently explained by Reserve CEO, Nevin Freeman.

Stablecoins – The ICOs Of 2018

It is interesting to note that stablecoins had received a lot of attention in 2018, due to the bearish market, maybe in anticipation for them to take the create crypto hype after the ICOs era of 2017.

The most famous stablecoin, Tether, has been a center of serious controversy, as it couldn’t prove that it holds enough money to back its circulating supply. Many took a liking to the idea of a stablecoin, including the Winklevoss twins, which is why many other stable projects emerged quickly.

Now that Basis is shutting down, experts warn that the situation is fragile and we could see more projects following Basis. Regulatory uncertainty, as big of a reason that it is, can often be only one of the reasons behind such outcomes.

The post Stablecoins Hype? $133M Basis Project Shuts Down with No Warning appeared first on CryptoPotato.

Source: Crypto Potato

Benchmark University Study Shines a Spotlight on Crypto Assets

Benchmark University Study Shines a Spotlight on Crypto Assets

Judge Business School, a subsidiary of the University of Cambridge, has published its second annual report into the cryptoconomy. Its inaugural report surfaced in April 2017, just as crypto mania was exploding. A lot has happened in the ecosystem since then, and the school’s new 96-page report covers a good portion of it, with a particular focus on cryptocurrency mining, exchanges, storage, and payments.

Also read: BTC Gets a Health Check in ‘The State of Bitcoin’

Crypto Sector Receives Its Second Report in a Week

Benchmark University Study Shines a Spotlight on Crypto AssetsWithin days of cryptocurrency enthusiasts being treated to a 59-page health check in “The State of Bitcoin,” a second weighty tome has hit their desks. Cambridge University’s “Global Cryptoasset Benchmarking Study” is as comprehensive as it sounds. Not only is the reference report packed with even more information than Delphi Digital’s effort, but it zeroes in on areas that the previous report skirted.

Judge Business School’s second crypto assets report draws a number of primary findings including:

  • Millions of new users have entered the ecosystem, but most remain passive.
  • The majority of mining facilities use some share of renewable energy sources as part of their energy mix.
  • Mining is less concentrated than commonly perceived.
Benchmark University Study Shines a Spotlight on Crypto Assets
The survey found that mobile wallets remain the most supported format but web wallet support has significantly increased.

Unpacking a Trove of Data

While the price of crypto assets has tumbled through most of 2018, user adoption has continued to grow for many leading digital currencies. The Cambridge report found that “Total user accounts at service providers [exchanges, etc.] now exceed 139 million with at least 35 million identity-verified users, the latter growing nearly 4x in 2017 and doubling again in the first three quarters of 2018.” The authors conclude, however, that only 38 percent of these users can be regarded as currently active. It is reasonable to assume that a significant portion of these individuals will reignite their interest in cryptocurrencies once the market recovers.

Another key finding from the report concerns the growth in industry employment. Despite having been published within days of various crypto projects including Consensys, Spankchain, and Steemit all downsizing, the report highlights the significant expansion of the cryptocurrency workforce since 2016. Back, then, the average cryptocurrency business had just five employees. Today that figure stands at 20. Other interesting findings from the university’s report include:

  • Two-thirds of specialized custodial exchanges do not have a refund procedure in the case of customer funds getting lost or stolen.
  • The amount of funds held in cold storage by crypto businesses surveyed stands at above 80 percent.
  • More than 80 percent of firms do not publicly share information about security audits, indicating a general unwillingness to divulge security-critical information.

Benchmark University Study Shines a Spotlight on Crypto AssetsThe very fact that Bitcoin and its supporting cryptocurrencies are now regularly inspiring high-level research initiated by august institutions speaks volumes of the progress that digital assets have made over the past 18 months. Britain’s second oldest university, Cambridge University was founded in 1209 and granted a Royal Charter by King Henry III two decades later. Cryptocurrency proponents will be hoping that Bitcoin goes on to have an equally long and distinguished history.

Do you think the quality of research into crypto assets is improving? Let us know in the comments section below.


Images courtesy of Shutterstock and Business Because.


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The post Benchmark University Study Shines a Spotlight on Crypto Assets appeared first on Bitcoin News.

Source: Bitcoinnews.com

Zebpay Exchange Now Live in 21 European Countries

Zebpay Cryptocurrency Exchange Now Live in 21 European Countries

Zebpay, formerly one of India’s largest cryptocurrency exchanges, has launched in Europe. Euro deposits, withdrawals, and trading are now live in 21 countries. While the exchange is not accepting new registrations from India, existing users can continue to use its wallet app.

Also read: Indian Supreme Court Moves Crypto Hearing, Community Calls for Positive Regulations

Zebpay Launches in 21 Countries

Zebpay Exchange Now Live in 21 European CountriesZebpay announced on Tuesday that its European exchange is now live. “We have recently expanded our global footprints in Europe with our exchange and wallet enabling crypto-to-crypto trading,” the company wrote, adding:

We are live with euro deposits/withdrawals and trading in 21 countries (Malta, Belgium, Bulgaria, Croatia, Cyprus, Czech Republic, Denmark, Finland, France, Germany, Greece, Hungary, Ireland, Italy, Latvia, Netherlands, Poland, Portugal, Slovenia, Sweden, Austria) in Europe for users and corporate investors.

Zebpay Exchange Now Live in 21 European CountriesCustomers need to sign up for an account and go through Zebpay’s know-your-customer (KYC) procedures. “After successful KYC and bank verification,” customers can then deposit euros into their Zebpay euro wallets via bank deposits, the exchange detailed. They can also trade BTC against the euro on the Zebpay exchange and withdraw fiat from the wallets. “We will soon add more digital assets that can be traded with euro,” the company wrote.

For its European grand opening, Zebpay is offering zero-fee euro deposits as well as zero maker fees. Customers will also receive a reward of 0.25 percent per transaction. The offer is valid until Dec. 31 for supported euro and crypto-to-crypto trading pairs, currently BTC/EUR, ETH/BTC, LTC/BTC, XRP/BTC, BCH/BTC, EOS/BTC, and TRX/BTC.

Indians Cannot Register

Zebpay Exchange Now Live in 21 European CountriesIn September, Zebpay closed down its exchange service in India due to the banking ban by the Reserve Bank of India (RBI). At the time, the exchange claimed to have over 3 million users. Zebpay subsequently set up subsidiaries overseas. The company is registered in Malta under the name Awlencan Innovations Malta Ltd.

Another related entity is Zeb Ventures Pte. Ltd. Zebpay explained that this Singapore-registered company “is engaged in the service of providing a platform for the buying and selling of bitcoins and other cryptocurrencies through its mobile application known as Zebpay App, being listed on Android and iOS platforms.” The exchange’s website states:

We are not accepting new registrations from India.

The crypto banking ban in India is still in effect but the country’s supreme court is scheduled to hear all of the petitions against the ban in January 2019. Meanwhile, the crypto community is eagerly awaiting the recommendations submitted by the government panel headed by Subhash Chandra Garg, the country’s Economic Affairs Secretary.

What do you think of Zebpay launching an exchange in Europe and disallowing Indians to register? Let us know in the comments section below.


Images courtesy of Shutterstock and Zebpay.


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Source: Bitcoinnews.com

Ethereum Miners May Be Exposed to a Hacker Mass-Scan Campaign

Ethereum vulnerability

Think you’re working hard at making an extra income even while prices are down? If you’re not careful and don’t heed the warnings about port 8545, you may just see all your ETH disappear overnight.


According to crypto-jacking and cybersecurity research firm Bad Packets, a mass-scan campaign is active at the moment. Hackers are on the lookout for internet-exposed Ethereum mining equipment and wallets.

Bad Packets Co-Founder Troy Mursch told ZDNet that this scanning campaign has actually been active for over a week, starting on December 3.

Scanning for Exposed Wallets and Mining Equipment

Hackers search the net for any devices that have port 8545 exposed on the internet. If you’re not sure what that is, it’s basically the standard port for the JSON-RPC interface of certain types of Ethereum mining equipment (particularly Geth) and Ethereum wallets.

This JSON-RPC interface is an API that allows locally-installed services and apps to find relevant mining and price related information.

Price analysis

For security reasons, the interface should, in theory, only be locally exposed. However, some mining equipment and wallet apps and make it available on all interfaces.

To add insult to injury, many of the JSON-RPC interfaces don’t come with a default password. This means that if the user has failed to set one, the device is completely exposed.

It’s easy money for the hacker. All they have to do is locate the wallet or mining equipment, send the right commands, and remove all the ethereum 00 from the victim’s address.

Port 8545 Is Not a New Problem

Ethereum has long been aware of the port 8545 issue and sent out a warning to all miners using Geth equipment back in 2015. They advised of the danger of using the type of equipment and also let Ethereum users know that this software exposes the API interface to the internet.

They also recommended that users took extra precautions by adding a password or using a firewall to block unwanted incoming traffic for port 8545.

The warning worked for some time, but memories are short in the crypto-sphere. While plenty of miners and wallet makers either took the appropriate precautions or removed the JSON-RPC interface completely, the effort wasn’t industry-wide.

Moreover, there’s more than one way to fall victim to vulnerabilities in the Ethereum network. Just last month, researchers found another major flaw that allowed hackers to drain exchanges by burning their ETH on high transaction costs.

Don’t Let Ethereum’s Tanking Price Deceive You

Back in 2015, hackers scouring for ETH were not so prevalent, but when Ethereum reached giddy heights of over $1,300 in January 2018, plenty of high-profile hacking attacks began coming to light.

Among the worst of these happened in June 2018 when a scanner managed to amass over $20 million worth of Ethereum at the then-price of around $600.

Since the price has tanked with the altcoin seeing some 90% shaved off its value, the port 8545 issue has been buried in the background.

But don’t let the low price deceive you. Even if ETH is trading at less than $100 these days, hackers are indiscriminate. They will still take a small amount from a lot of people and make a large profit over time. Said Mursch:

Despite the price of cryptocurrency crashing into the gutter, free money is still free, even if it’s pennies a day.

According to their Twitter account, Bad Packets found that the scan activity had actually tripled compared to last month despite the rock-bottom price.

It’s thought that around 4,700 devices (most of which are Parity wallets and Geth mining equipment) are currently exposing their port 8545. Worse still? Hackers can even find free tools to exploit this vulnerability and attack Ethereum users through the port.

So if you’ve been lax on your security or focusing all your attention on the price, just remember never to leave your back door (or your port 8545) completely wide open.

Will this vulnerability further hurt ETH price? Share your thoughts below! 


Images courtesy of Shutterstock, Bad Packets LLC

The post Ethereum Miners May Be Exposed to a Hacker Mass-Scan Campaign appeared first on Bitcoinist.com.

Source: Bitcoininst

Japanese Exchange Bitpoint Launches Trading Platform in Panama

On Wednesday Dec. 12, Japanese cryptocurrency exchange Bitpoint announced the launch of a crypto-to-fiat trading platform in Panama. The regulatory-compliant exchange will offer USD pairs with top cryptocurrencies like bitcoin cash, ethereum, bitcoin core, litecoin, and ripple.

Also read: BCH Devs Discuss Securing Instant Transactions With the Avalanche Protocol

Bitpoint Japan Expands to Latin America

Japanese Exchange Bitpoint Launches Trading Platform in PanamaBitpoint is a licensed cryptocurrency exchange operator headquartered in Tokyo that has just announced the company’s first international expansion in Latin America. It already operates trading platforms in five Asian countries and the latest exchange is called Bitpoint Panama. The Japanese firm has detailed that citizens of Panama as well as corporate entities within the region can use the exchange. Meanwhile, Bitpoint will utilize Panama ACH bank wires for fiat deposits and withdrawals for verified users.      

“We are proud to announce our market entry in Panama — The formalization of the crypto asset trading sector together with local authorities is a key milestone for its sustainable development,” explained Genki Oda, president of Bitpoint Japan during the announcement.

The senior executive added:  

In Panama we will employ our knowledge and standards to the satisfaction and tranquility of the local banking industry whom we regard as our partners.

Japanese Exchange Bitpoint Launches Trading Platform in Panama

Regional Regulations Will Be Respected

Bitpoint has detailed that verified users will be able to trade bitcoin core (BTC), ethereum (ETH), bitcoin cash (BCH), ripple (XRP) and litecoin (LTC) against the USD. Additionally, the Panama operation developed by Bitpoint promises “deep liquidity for speedy clearing.” The trading platform is AML/KYC compliant and users can register for a personal or a corporate account. Unlike most exchanges that use a Zendesk-like customer service platform, Bitpoint has a phone number available and customers can speak with agents directly.

Japanese Exchange Bitpoint Launches Trading Platform in Panama

Cryptocurrencies in Panama are still not fully regulated but Bitpoint emphasizes on its website that it is “a regulated company in Japan and operates by good practices under the same standards in Panama.” The Japanese firm further details that just like the other trading platforms under its wing, Bitpoint Panama will utilize multi-signature correspondence techniques and an “anti-hacking system that detects hackers and prevents hacks in real time.” Julian Geovo, operations director for Bitpoint Panama, has explained that the team plans to also bolster mainstream digital currency acceptance in the South American region.

“An interesting and safe option for cryptocurrency customers in Panama has been created — adopting the best operational practices from Bitpoint Japan allows us to offer a path for mainstream crypto education and adoption, whilst maintaining the tranquility of all stakeholders in the sector,” Geovo added.

What do you think about Bitpoint’s new exchange in Panama? Let us know what you think about this subject in the comments section below.


Images via Shutterstock, Bitpoint Japan, Pixabay, and Bitpoint Panama.


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The post Japanese Exchange Bitpoint Launches Trading Platform in Panama appeared first on Bitcoin News.

Source: Bitcoinnews.com