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Three High Profile Crypto Networks Face Reward Halvings This Spring

Three High Profile Crypto Networks Will Face Reward Halvings This Spring

This spring, three of the largest crypto networks, BTC, BCH, and BSV, will undergo their halvings around the same time for the first time in history. During the last halving in 2016, only one network existed, but now three protocols share the same consensus algorithm. Google Trends shows that searches for the term “bitcoin halving” have skyrocketed in recent days and it’s still unclear whether the halvings are priced into the three markets.

Also Read: Heated Debate Continues Over Bitcoin Cash Infrastructure Funding Plan

Google Trends Searches for ‘Bitcoin Halving’ Accelerate

In the fourth Arcane Research weekly update, the cryptocurrency research and analysis firm noted that Google searches for the term “bitcoin halving” have skyrocketed. Arcane’s chart shows that Google Trends indicates that the spike really took off in mid-November 2019. The research details that BTC has had several narrative shifts during the last decade from cheap peer-to-peer payments to the latest digital gold narrative. “The search interest for the bitcoin halving, this has accelerated over the last few months,” Arcane’s research notes.

Three High Profile Crypto Networks Will Face Reward Halvings This Spring
Bitcoin Cash and Bitcoin SV are due to halve in April 2020 while BTC is expected to halve in May 2020. Both LTC and BEAM have halved recently.

The weekly analysis also notes that discussions on whether the halving is priced in or not have increased in the bitcoin community. Currently, there are 105 days until the BTC halving, 71 days until BCH halves, and 73 days left until BSV rewards decrease from 12.5 BSV to 6.25 per block.

Three High Profile Crypto Networks Will Face Reward Halvings This Spring
Google searches for the term “bitcoin halving” have started to accelerate according to the weekly analysis from Arcane Research.

All three cryptocurrencies have gained a considerable amount of value over the last two months. But a number of people believe that all three networks need to gather even more value in order to appease the miners on each network. Some speculators believe miners from any network could switch to another chain if profits aren’t adequate after the reward halving. Because all three networks share the same consensus algorithm (SHA256), miners can easily switch to the most profitable chain.

Three High Profile Crypto Networks Will Face Reward Halvings This Spring
Grayscale Insights writer Matthew Beck explains that he was surprised to hear that many market participants were not even aware of the halving event.

Pools switching chains for profit has become a trend ever since the August 1, 2017 Bitcoin Cash fork. During the November 2018 BSV split, entities with hash power battled between other miners on all three chains. Events like these have shown clear hashrate shifts but the halving on all three chains within a 40-day time span will be interesting. There’s quite a bit of economic and game theory involved with the reward halvings and right now everything is theoretical.

“The halving is close enough that it’s time to start talking about it more seriously, but far enough out in the future that it’s unclear whether it’s priced into the market efficiently,” explains a Grayscale Insights report on the subject written by Matthew Beck. “In fact, based on anecdotal conversations with market participants, we were surprised to learn that many of them were not even aware of this event — Moreover, according to Unchained Capital, less than 32% of the bitcoins in circulation have remained in the same wallet addresses since July 2016.”

Three High Profile Crypto Networks Will Face Reward Halvings This Spring
Since the LTC network halved last August, the network’s overall hashrate has plummeted.

Reddit and Twitter Are Littered With Theoretical Discussions About the SHA256 Halvings, While Some People Remain Unaware

There remain some digital asset holders who have no idea the halvings are approaching. On crypto Twitter (CT) the subject is trending and you can find various discussions about the subject nearly every day. A few individuals have tossed the recent litecoin (LTC) halving into conversations as an example of what could happen.

LTC’s overall hashrate dropped significantly, losing more than 40% of what it held before the coin’s reward halving.

Three High Profile Crypto Networks Will Face Reward Halvings This Spring

Similarly to Twitter discussions, the ‘halving’ conversation has been trending on the Reddit forums r/btc, r/cryptocurrency, and r/bitcoin. With three powerful crypto networks due to halve in the spring, the 2020 reward cut will be widely felt.

What do you think about the SHA256 (BTC, BCH, and BSV) halvings set to take place this coming spring? Do you think the halvings are currently priced in or are yet to be priced in? Let us know what you think about this fascinating topic filled with economic and game theory in the comments section below.

Disclaimer: This article is for informational purposes only. It is not an offer or solicitation of an offer to buy or sell, or a recommendation, endorsement, or sponsorship of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.


Image credits: Shutterstock, Wiki Commons, Twitter, Btc.com, Grayscale Insights, Arcane Research, and ICO Analytics.


Did you know you can buy and sell BCH privately using our noncustodial, peer-to-peer Local Bitcoin Cash trading platform? The local.Bitcoin.com marketplace has thousands of participants from all around the world trading BCH right now. And if you need a bitcoin wallet to securely store your coins, you can download one from us here.

The post Three High Profile Crypto Networks Face Reward Halvings This Spring appeared first on Bitcoin News.

Source: Bitcoinnews.com

International Crypto Exchange Liquid Develops Perpetual BTC Contracts With Up to 100x Leverage

International Crypto Exchange Liquid Develops Perpetual BTC Contracts With Up to 100x Leverage

Leverage allows cryptocurrency traders unsatisfied with market volatility to make stronger plays on smaller movements. Trading platforms offer various ways to use leverage in order to capture this segment. The latest example is Liquid, an exchange that developed perpetual BTC contracts with up to 100x leverage.

Also Read: Liquid Exchange Launches BCH/USDC Trading Pairs

Perpetual BTC Contracts With Massive Leverage

International digital assets trading platform Liquid has announced the closed beta launch of a new crypto offering with up to 100x leverage. Liquid Perpetuals is a derivatives trading instrument that facilitates the trading of perpetual BTC contracts.

Rather than holding the underlying asset, when trading perpetuals on the platform the user is trading contracts based on the price of BTC. A perpetual contract has no expiry date and has no interest fees. Instead, a funding swap occurs between all open perpetual long and short contracts on Liquid.

The BTC contract price on Liquid is based on an index price referencing the real time prices of five cryptocurrency exchanges: Bitstamp, Coinbase, Gemini, Kraken and Liquid. The index price takes the BTC price from these five exchanges, discards the highest and lowest values and then calculates an average between the remaining three.

International Crypto Exchange Liquid Develops Perpetual BTC Contracts With Up to 100x Leverage

Besides the high leverage possibility, Liquid Perpetuals has a few other advanced trading features available, according to the developers. These include setting Stop Loss and Take Profit at order entry as well as selecting either Cross Margin or Isolated Margin. Users can also fund their trading with 13 different currencies, both fiat and crypto.

The platform promises to offer deep liquidity for the new instrument as its multi-market order matching engine draws liquidity from Liquid’s Spot, Margin and CFD order books to the perpetuals market. The company also promises clients that they can deposit BTC for trading in less than 10 seconds with zero-block confirmations.

Liquid Perpetuals are further said to introduce an extra degree of trading safety with a smart liquidations feature that carries out liquidations incrementally, 10% at a time. This way traders are not liquidated instantly when the margin threshold is breached. Instead, positions are gradually reduced as margin coverage falls.

International Crypto Exchange Hailing From Japan

Founded in 2014 by Mike Kayamori and Mario Gomez Lozada, Liquid (a subsidy of Quoine) has been a popular Asian exchange for quite some time. For example, the company reported that in the 12-month period up until May 2019, it processed more than $50 billion in transactions.

Liquid was granted an official license from the Japanese Financial Services Agency (FSA), and its parent company Quoine is headquartered in Tokyo. The platform supports several languages including Russian, Korean and Chinese. Last July, the exchange announced that its users can trade bitcoin cash (BCH) against Circle’s USD-pegged coin USDC, coupled with an effort to integrate Liquid into Bitcoin.com’s Bitcoin Cash Register application.

What do you think about Liquid offering clients trading on perpetual crypto contracts with up to 100x leverage? Share your thoughts in the comments section below.

Disclaimer: This article is for informational purposes only. It is not an offer or solicitation of an offer to buy or sell, or a recommendation, endorsement, or sponsorship of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.


Images courtesy of Shutterstock.


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The post International Crypto Exchange Liquid Develops Perpetual BTC Contracts With Up to 100x Leverage appeared first on Bitcoin News.

Source: Bitcoinnews.com

Bitcoin.com Update: Dev Fund Proposal ‘Will Not Go Through’ Without More Agreement

Bitcoin.com Update: Dev Fund Proposal 'Will Not Go Through' Without More Agreement

The BCH infrastructure funding proposal initially announced by Jiang Zhuoer on January 22 will not go through as planned without greater agreement in the Bitcoin Cash community, Bitcoin.com has announced via a read.cash post uploaded today.

Also Read: Heated Debate Continues Over Bitcoin Cash Infrastructure Funding Plan

Bitcoin.com Will Not Support Plan Without Greater Agreement in BCH Ecosystem

Bitcoin.com has now announced it will not be going through with the original proposal for infrastructure funding until a greater agreement can be reached among ecosystem participants. In a post to the popular BCH discussion hub read.cash entitled Update on Developer Funding, Bitcoin.com clarifies:

As it stands now, Bitcoin.com will not go through with supporting any plan unless there is more agreement in the ecosystem such that the risk of a chain split is negligible.

Though the Bitcoin.com mining pool was one of five major groups in support of the move initially, contentious discussion and debate erupted as individuals from all backgrounds and degrees of BCH ecosystem involvement weighed in emphatically on the matter. Read.cash quickly became the go-to place for influential voices to support, question, or outright oppose the plan, with some whales throwing heavy support in the form of BCH rewards to authors.

Bitcoin.com maintains that “Protocol development in Bitcoin Cash is an important temporary phase to prepare for global adoption and as such, a funding proposal must be temporary.” Stating that the goal is “global, fast, reliable digital cash” the post concludes by assuring readers that any proposal putting this goal at risk needs to be reworked.

“Bitcoin.com will not risk a chain split or a change to the underlying economics,” the update notes. “In order to do this, any proposal will need to have as many people of economic weight on-board as possible, including businesses, exchanges, miners, and Bitcoin Cash implementations.”

Opposing Viewpoints Receive Significant Funding on Read.cash

Read.cash user and vocal BCH community member im_uname found their post, Assessment and proposal re: the Bitcoin Cash infrastructure funding situation, heavily rewarded on the platform, racking up over $1,000 for expressing doubts about the initial plan and suggesting an alternative implementation. Though $1,000 came from a single voter, user MarcDeMesel, the post’s reaction helped to solidify read.cash as an up-and-coming hub for BCH debate and discussion.

Bitcoin.com Update: Dev Fund Proposal 'Will Not Go Through' Without More Agreement

Im_uname writes: “Just six large holders each with 100,000 BCH can contribute $1 million each, 3% of their holdings each, and the mining tax proposal’s amount will be matched. They can do it every year and still come out with a huge profit, assuming the scaling benefits propel BCH to match today’s ETH market capitalization several years later.”

Commenter Big-Bubbler added some counterpoint beneath the article, emphasizing that the shock at miners deciding to make the proposed move was somewhat unwarranted. “When the miners and the developers team up to do something they think is good for the currency they do have massive power. Pretending they do not is the normal thinking strategy we use on a daily basis, but, it was never true.”

Bitcoin.com Update: Dev Fund Proposal 'Will Not Go Through' Without More Agreement
Read.cash articles on the topic gained significant monetary support.

Straddling the fence of the contention was another $1,000 post (also heavily upvoted by account MarcDeMesel) on Read.cash. Entitled 7 Impolite Thoughts on the Developer Fund, the article by user Steve-Patterson notes that while unsure of the proposal for various reasons,

One way or another, this proposed development fund will end up being a good thing. The BCH community has finally been shaken out of its slumber. There are real philosophical disagreements in our community that need to be sorted out.

Patterson warns against what he sees as a potential path toward becoming “Bitcoin Core 2.0” due to centralized and unscrupulous attempts by prominent developers to grab power.

Weighing in at a whopping $2,220.62 reward at press time, a third article has now been amended in light of Bitcoin.com’s recent announcement. The post, uploaded by user shadow-kwh, claims to be the voice of a “group of North American and European miners representing, at this point in time, 1.6 exahash/s.” The poster notes: “We will represent 2.5 exahash/s come May 2020 due to expansion amongst our companies.”

Bitcoin.com Update: Dev Fund Proposal 'Will Not Go Through' Without More Agreement

The now struck-through article is emphatic in asserting that mining pools and miners should be differentiated, and that the proposed plan might lead to a loss of hash power which could endanger BCH. The post originally culminates with a reiteration that these miners have their “back against the wall.” In addressing another aspect of the discussion, shadow-kwh linked to another popular post on the platform by Bitcoin Unlimited’s Peter Rizun, which states:

Although the service fee would create a reliable and stable mechanism to transfer money from investors to select developers, such a protocol change comes with great cost. It redefines who owns new coinbases.

Commenters on Rizun’s post labored over what they viewed as important distinctions between miners, mining pools, and foundational protocol change versus voluntary action.

Bitcoin.com Update: Dev Fund Proposal 'Will Not Go Through' Without More Agreement

The Discussion Marches On

With Bitcoin.com’s announcement of stepping back from the plan for now, many in the community seem relieved to have a bit of respite to regroup, rethink, and begin to better organize proposals for infrastructure funding more seriously, and perhaps more focused and resolute thanks to the seismic jarring the announcement gave to the space.

The following days, weeks and months will be interesting to watch unfold, especially as the halving approaches. Debate is sure to continue unabated, and much of it will likely be taking place on Read.cash.

What do you think about Bitcoin.com’s announcement regarding the developer funding proposal? Let us know in the comments section below.


Images courtesy of Shutterstock, fair use.


Did you know you can buy and sell BCH privately using our noncustodial, peer-to-peer Local Bitcoin Cash trading platform? The local.Bitcoin.com marketplace has thousands of participants from all around the world trading BCH right now. And if you need a bitcoin wallet to securely store your coins, you can download one from us here.

The post Bitcoin.com Update: Dev Fund Proposal ‘Will Not Go Through’ Without More Agreement appeared first on Bitcoin News.

Source: Bitcoinnews.com

Hearing Concluded: Indian Supreme Court Deliberates on Crypto vs RBI Case

Hearing Concluded: Indian Supreme Court Deliberates on Crypto vs RBI Case

The Indian supreme court has finished hearing the crypto vs. Reserve Bank of India (RBI) case. The hearing concluded on Tuesday with the counsel for the Internet and Mobile Association of India wrapping up his arguments, followed by arguments by the counsel representing crypto exchanges. The court is now in deliberation.

Also read: Regulatory Roundup — New US Crypto Tax Bill, Central Banks Join Forces on Digital Currencies

IAMAI Concludes Arguments in Supreme Court

The supreme court of India resumed hearing the crypto vs. RBI case on Tuesday morning. The counsel for the Internet and Mobile Association of India (IAMAI), Ashim Sood, picked up where he left off last week. He began by saying that there was no study showing that cryptocurrency affects monetary policy, local news platform Crypto Kanoon reported from the courtroom. Sood then brought up some previous cases to discuss the central bank’s power to take preemptive steps, reading out the RBI circular which bans banks from providing services to crypto businesses.

Hearing Concluded: Indian Supreme Court Deliberates on Crypto vs RBI Case

The IAMAI counsel pointed out that the circular has neither stopped crypto trading, or its use as a means of payment, nor cross-border transactions. Therefore, it does not address any of the central bank’s concerns. Sood asserted that the circular “was always intended to control consumer behavior and it seems to been failed even in this purpose,” Crypto Kanoon conveyed.

During the hearing, Justice Ramasubramaniam mentioned that Warren Buffett has made a negative statement regarding bitcoin, to which the counsel replied by showing an article where the Berkshire Hathaway CEO said he may have made a mistake by not investing in technology companies such as Apple and Google. Sood claims that if Buffett can make a mistake, why can’t the RBI? He then concluded his arguments.

Hearing Concluded: Indian Supreme Court Deliberates on Crypto vs RBI Case
Warren Buffett

Crypto Exchanges’ Counsel Concludes His Arguments

After the IAMAI counsel, Nakul Dewan, the counsel representing a number of crypto exchanges, began his arguments. He explained that cryptocurrency “should be seen from the perspective of its legal creation whereby it has characteristics of property but not by its use whereby it is akin to money,” the news portal detailed.

The counsel read out a few statements from other regulators, such as the U.K. Task Force, and submitted that crypto assets have the characteristics of property. He concluded that the central bank’s arbitrary measure has indirectly shut down crypto exchanges’ businesses. The hearing then ended, according to Crypto Kanoon, who said:

The counsels [are] to submit written submissions on Friday … No date is intimated for the pronouncement of judgment yet.

Local news outlet Coin Crunch India reported that the judgment is estimated to be made within three weeks. Furthermore, the court is set to hear the petitions relating to the country’s crypto policies after it has pronounced judgment on the RBI case.

How do you think the court will rule? Let us know in the comments section below.

Disclaimer: This article is for informational purposes only. It is not an offer or solicitation of an offer to buy or sell, or a recommendation, endorsement, or sponsorship of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.


Images courtesy of Shutterstock and Yahoo Finance.


Did you know you can buy and sell BCH privately using our noncustodial, peer-to-peer Local Bitcoin Cash trading platform? The local.Bitcoin.com marketplace has thousands of participants from all around the world trading BCH right now. And if you need a bitcoin wallet to securely store your coins, you can download one from us here.

The post Hearing Concluded: Indian Supreme Court Deliberates on Crypto vs RBI Case appeared first on Bitcoin News.

Source: Bitcoinnews.com

Swiss Bank Julius Baer Offers New Digital Asset Services With Licensed Crypto Bank SEBA

Swiss Bank Julius Baer Offers New Digital Asset Services With Licensed Crypto Bank SEBA

Switzerland, a nation that’s been quite positive towards crypto business, is facilitating the integration between its traditional financial sector and the blockchain industry. With greater regulatory clarity and stability coming, established banks are plucking up the courage to offer digital asset products and services helped by local fintechs.

Also read: Companies Keep Flocking to Swiss Crypto Valley, Over 1,000 Jobs Added in a Year

Century-Old Swiss Bank Provides Clients With Crypto Storage and Transaction Solutions

Crypto banking has been expanding through partnerships within the industry, but it’s also promising to see a growing number of inter-sector projects with the involvement of established financial institutions. The latest example was provided by 130-year-old Swiss bank Julius Baer and the newly licensed crypto bank SEBA. The well-known wealth manager announced it’s launching new services related to cryptocurrencies. The offerings stem from a partnership with SEBA Bank AG, a Switzerland-based entity that was granted regulatory approval by the country’s Financial Market Supervisory Authority (Finma).

“As of now Julius Baer provides its clients with access to various solutions for digital assets storage and transactions to meet an increasing demand,” the private bank said in a recently published press release. For the time being, the services are offered to clients in Switzerland where Julius Baer utilizes SEBA’s “cutting-edge platform and capabilities,” the announcement details.

Swiss Bank Julius Baer Offers New Digital Asset Services With Licensed Crypto Bank SEBA

The partnership agreement between the two companies was concluded last year and Julius Baer revealed in February it’s entering the cryptocurrency market in order to give its customers access to a range of new services. SEBA received its Finma license in August 2019, becoming one of the first two regulated crypto banks in Switzerland, along with another startup, Sygnum Bank AG. A third company, Bitcoin Suisse, applied for a Swiss banking license in July and expects the watchdog’s decision.

Besides the new storage and transaction solutions, Julius Baer has extended its service range to include consolidated portfolio overviews across conventional and digital assets. The financial institution also notes it will provide clients with access to a group of cryptocurrencies. The bank has not revealed the digital coins it’s referring to but emphasizes that these have been selected based on their tradability, safety, and technical reliability.

The coordinated effort should bring benefits to both sides. Julius Baer is a leading service provider with global reach in the banking sector. At the end of October 2019, it had CHF 422 billion ($435 billion) of assets under management. The Zurich-headquartered bank maintains a presence in over 25 countries with offices in Frankfurt, London, Hong Kong, Dubai, Moscow, Mexico City, Mumbai, São Paulo, Singapore, and Tokyo among other destinations.

SEBA Bank launched in November with a range of services bridging the gap between the crypto world and traditional banking. The fintech startup, which is based in Zug, now accepts institutional and private professional clients from nine other jurisdictions beside Switzerland: the United Kingdom, Italy, Germany, France, Austria, Portugal, the Netherlands, Singapore, and Hong Kong.

Switzerland’s Crypto-Friendly Business Climate Accommodates Partnerships Between Banks and Fintech Startups

Examples of this kind of cooperation have become reality thanks to the positive attitude Swiss authorities have towards the nascent blockchain industry. The Crypto Valley, centered on the canton of Zug, is currently home to over 800 companies, a new report revealed. A draft plan to update the country’s banking, corporate and market infrastructure laws was introduced last year to the Federal Assembly. Both houses of the Swiss parliament are expected to debate and agree to adopt the broad changes in order to pave the way for the further development of the sector.

Swiss Bank Julius Baer Offers New Digital Asset Services With Licensed Crypto Bank SEBA

A number of other partnerships between traditional financial institutions and fintech companies have been realized so far. The other Swiss licensed crypto bank, Sygnum, announced this week that the SIX-listed Amun Sygnum Platform Winners Index ETP is now available through its platform and alongside other banks and brokerages. It’s offered in collaboration with Amun AG, a provider of Exchange Traded Products (ETPs) for the digital asset industry. SIX Swiss Exchange, Switzerland’s stock exchange, now has 12 cryptocurrency exchange-traded products listed, as news.Bitcoin.com reported.

Last year, Arab Bank (Switzerland) teamed up with the blockchain tech firm Taurus to provide its customers with access to cryptocurrencies as well as custody and brokerage services for crypto holdings. Bank Vontobel and Taurus are operating a digital asset vault allowing institutional investors to store and trade cryptocurrencies outside their balance sheets. In late 2018, Gazprombank (Switzerland) shared its plans to offer a digital asset management product with the help of Avaloq and Metaco. Falcon Private Bank and digital trading platform Swissquote provide custodial solutions and intermediary services for investors interested in token sales with partners in the crypto industry. Bank Zarattini has similar services in its portfolio offered together with Inacta.

Do you think we are going to see more partnerships between crypto companies and traditional banks in the future? Share your thoughts on the subject in the comments section below.

Disclaimer: This article is for informational purposes only. It is not an offer or solicitation of an offer to buy or sell, or a recommendation, endorsement, or sponsorship of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.


Images courtesy of Shutterstock.


Do you need a reliable bitcoin mobile wallet to send, receive, and store your coins? Download one for free from us and then head to our Purchase Bitcoin page where you can quickly buy bitcoin with a credit card.

The post Swiss Bank Julius Baer Offers New Digital Asset Services With Licensed Crypto Bank SEBA appeared first on Bitcoin News.

Source: Bitcoinnews.com

Localcryptos Lets You Cash Out BTC P2P – Minus the KYC 

Localcryptos Allows You to Cash Out BTC P2P – Minus the KYC 

If you’ve ever had a sudden need for fiat while all in crypto, you’ll understand the difficulty of cashing out without KYC-ing away your identity and that of your unborn children. Localbitcoins is now an AML hellhole, Bisq is great if you’re happy to wait two days for a trade, which leaves what exactly? Localcryptos.com. That’s what.

Also read: A Bitcoin War Is Brewing Over KYC

What’s the Deal With Localcryptos?

Before its rebrand, Localcryptos (LC) went by the name of Localethereum. Launched in Australia in 2017, the platform’s addition of BTC support in late 2019 made a name change inevitable. Just as Localbitcoins.com (LBC) was raising its shutters, ejecting traders who’d been with it for six years through draconian KYC, Localcryptos swung open its doors and welcomed in the misfits whose only ‘crime’ was to desire to swap magical internet money for filthy fiat in privacy. LC haven’t minced their words in describing their main competitor, LBC, as “centralized, custodial and a far cry from private.”

Localcryptos Lets You Cash Out BTC P2P – Minus the KYC
Stats displayed on localcryptos.com on January 27, 2020.

The Finland-based LBC, to be fair, didn’t want to KYC all their customers away to Localcryptos; blame EU regulators and the jackboot stomp of AML legislation that crushes all who stand in its path. Still, when you can’t even make it past the login screen of Localbitcoins to export your trading reputation into Localcryptos due to KYC notices that literally stop you in your tracks, there’s something very wrong. KYC is a cancer on society and the world would be a better place without it.

But the purpose of this article isn’t to bitch about KYC – there are plenty of other news.Bitcoin.com articles that do that. Rather, it’s to review Localcryptos.com from the perspective of a cryptocurrency user wanting to swap BTC for fiat. I used the site a couple of times this month to cash out, and found LC to be better than LBC in virtually every way, from the clean user dashboard to the escrow and reputation system. As a 2013 OG of LBC, switching my affiliation didn’t come easy. But after a couple of effortless trades on Localcryptos, I was sold. Bisq is great for selling XMR, and local.Bitcoin.com for BCH. But for BTC and ETH, Localcryptos has got it locked down.

Localcryptos Lets You Cash Out BTC P2P – Minus the KYC

A Bitcoin Beginner Makes Their First Trade

If you found your way around Localbitcoins okay, you’ll moonwalk through LC. To make sure, though, I enlisted the help of a friend who we’ll call Patrick. Patrick is new to crypto, and until this review was commissioned, had never sent a bitcoin transaction in his life. I instructed him to send some BTC from his Wirex account to Localcryptos and record his experience of losing his bitcoin virginity, adding “If there’s anything you’re unsure of while doing it, ask, but try and figure out as much of it as possible yourself.” Here’s what he had to say:

“Pretty simple process, really. After creating an account, confirming my email and sending some BTC from Wirex to my Localcryptos wallet, I was good to go. I hit the “Sell Bitcoin” button on the homepage, chose my preferred payment method (bank transfer), location (UK) and currency (GBP), then got a list of sellers along with the number of trades they had performed and the rate they were buying at. I chose a user with 3,000+ trades and 100% positive feedback and initiated the trade. Now, I had to fund the escrow account and send the trader my bank details, using an encrypted chat.”

Localcryptos Lets You Cash Out BTC P2P – Minus the KYC

“It took about 25 minutes for the funds to reach the escrow, then the seller advised that he was transferring the agreed amount to my bank. After quickly logging into my banking app and verifying that the GBP was there, I hit ‘Release Escrow’ and that was it.”

Localcryptos Lets You Cash Out BTC P2P – Minus the KYC

Cash Out Your Coins, Keep Your Privacy

Patrick’s experience of using LC sounds effortless. But in the interests of full disclosure, I should note that he did reach out to me during the process for some guidance. In fact, he sent me a dozen questions over Telegram, adding “sorry for the bombardment of questions, it’s just not obvious and I wanna do it right.”

In the event, Patrick did everything right, and successfully completed his first crypto-fiat swap with minimal intervention on my part. Most of the areas where he was uncertain pertained to Bitcoin’s architecture, rather than UX failings on behalf of LC. That said, Localcryptos could still do more to help beginners out here. The first time you send bitcoin, in this case to a Localcryptos wallet, it’s not clear that the transaction requires additional blockchain confirmations before the funds can be moved into an escrow account and sold.

That was Patrick’s main sticking point; a 25-minute wait for BTC to confirm, with no information as to why his funds were unmoveable. My main complaint with Localcryptos is that there’s no ability to select your entire wallet balance at the push of a button. As a result, it’s common to set up a trade, realize you’re a few satoshis or vitaliks short of the total amount, and be forced to cancel the deal or send additional funds from an external wallet. This minor gripe aside, Localcryptos gets a thumbs up from me – and a nod from Patrick who’s now leveled up his crypto knowledge and found a convenient way to cash out when he’s strapped for fiat.

Localcryptos Lets You Cash Out BTC P2P – Minus the KYC
Patrick toasts his first bitcoin transaction.

Localcryptos is light on regulations, letting you cash out without enduring laborious and invasive KYC – at least for now. What’s more, the platform utilizes noncustodial escrow, favoring smart contracts for ETH transactions and P2WSH for bitcoin. At no point are your funds custodied sitting on a centralized server. As with bitcoin P2P platform Bisq, and bitcoin cash marketplace local.Bitcoin.com, users retain their private keys, immunizing them from the fallout resulting from a hack or security breach. P2P exchanges that let you keep your privacy while selling your coins are a luxury in today’s surveillance society. Use them while you still can.

What’s your favorite non-privacy-invasive way to convert coins to fiat? Let us know in the comments section below.

Disclaimer: This article is for informational purposes only. It is not an offer or solicitation of an offer to buy or sell, or a recommendation, endorsement, or sponsorship of any products, services, or companies. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.


Images courtesy of Shutterstock.


Did you know you can verify any unconfirmed Bitcoin transaction with our Bitcoin Block Explorer tool? Simply complete a Bitcoin address search to view it on the blockchain. Plus, visit our Bitcoin Charts to see what’s happening in the industry.

The post Localcryptos Lets You Cash Out BTC P2P – Minus the KYC  appeared first on Bitcoin News.

Source: Bitcoinnews.com

Governments and Enterprises Can’t Get Enough of Blockchain

Government and Enterprises Can’t Get Enough of Blockchain

Governments have long been wary of Bitcoin, while expressing admiration for its innovative ledger system. This trend can be traced back till 2014, when the “blockchain not bitcoin” mantra was coined. Six years on and that sentiment is being backed by action as governments and businesses the world over commission blockchain initiatives. Are these entities genuinely bullish on blockchain? Or are they simply trying to stay relevant and capitalize on tech trends?

Also read: US Tax Advisor Tells Crypto Customers to Self-Report on Taxes, Even If Imperfectly

National and Enterprise Blockchain Projects Are Stacking Up

Global governments are falling over themselves to commission blockchain projects. Last week, the Canadian government awarded a contract for steel tracking onchain, and at Davos there was widespread talk of using blockchain for data collection and environmental solutions. “Most Davos experts seem to agree that blockchain tech is best used for data collection rather than self-sovereign finance,” read one media tweet from the event, prompting Neeraj Agrawal to retort “Experts agree blockchain tech is better for the thing no one has used it for rather than the only thing it’s been used for.”

Governments may envision vastly different use cases for blockchain than those favored by the crypto community, but they appear earnest in their desire to deploy distributed ledger technology. So too do the enterprises interested in utilizing and fostering blockchain adoption. In addition to the Canadian government inking a $130K deal for an onchain steel-tracking blockchain, the past week has seen Hyperledger launch a climate action special interest group dedicated to advancing DLT for governments and businesses to monitor emissions. Other entities to have recently gotten in on the blockchain game include Thailand, whose government is integrating blockchain technology into its new e-visa system.

Governments and Enterprises Can’t Get Enough of Blockchain

Private Chains in the Public Sector

Lior Yaffe is the director and co-founder of Jelurida, a blockchain software company that maintains the Ardor and Nxt chains and develops enterprise solutions. In his view, government-favored “permissioned blockchain solutions alone cannot unleash the full potential of the technology since they ultimately depend on the good will of only a few parties.” Yaffe believes that broader blockchain adoption calls for the creation of “hybrid solutions where the main consensus engine is public and decentralized, while specific applications (for example child chains) can be permissioned for specific use cases by specific actors.”

There are good reasons why governments are commissioning permissioned blockchains as opposed to building on Bitcoin or Ethereum. The trustless nature of public ledgers, and the difficulty of enforcing KYC and AML are anathema to agencies seeking DLT solutions with compliance baked in. As Coindesk’s Davos newsletter observed, ““Crypto” and “bitcoin” are still dirty words but “blockchain” – its neutered cousin – has been fully assimilated” by the global elite. The question is whether government adoption of permissioned chains will serve as a gateway to ‘full fat’ crypto networks in time.

Governments and Enterprises Can’t Get Enough of Blockchain

Is Blockchain the Gateway to Bitcoin?

The main value proposition for permissioned blockchains, according to Lior Yaffe, is to enable “cooperation between third parties who do not trust each other.” He cites examples such as governments “using their power to force competitive corporate entities to cooperate using a single ledger not controlled by any single one of them for the benefit of their taxpayers” and envisions voting being another major use case, highlighting “shareholder voting to government internal vote tracking to city and even national elections,” adding:

But in order to get blockchain voting you also need to figure out identity, which is a very privacy sensitive application. For this to materialize we need stronger built-in privacy mechanisms such as zero knowledge proofs to become more mature and harder to misuse. Chains which support these functions will always become semi-public for people to be able to review and audit them. The more public and global blockchains become adopted [at government and enterprise level], the higher the trust they will earn that they cannot be manipulated.

As blockchain technology is tested at scale by government agencies, NGOs, banks, and other institutions, it will prove itself as a ledger whose data integrity can be trusted. Blockchain cannot verify the truthfulness of the information recorded on it, but it can show that the information hasn’t subsequently been tampered with. Whether that capability is enough to warrant governments and enterprises plunging headlong into blockchain can be debated. What’s less debatable is that the legitimization of Bitcoin’s underlying technology has created a world in which blockchain is no longer just a buzzword – it’s just a word – and where it’s not uncommon to find financial institutions running nodes for public and private chains.

“It’s not about the B word,” insists IMB Blockchain’s Jason Kelly. “It’s about outcomes. We’re talking about sharing data across a complex supply chain with accuracy and trust … Before long we won’t even say the B word. It’ll simply be the way we transact with trusted data.”

“”Before long we won’t even say [blockchain],” say the blockchain people at the blockchain companies,” riffed Matt Levine in Money Stuff. “I’m looking forward to it.”

Governments and Enterprises Can’t Get Enough of Blockchain

Many of the blockchain pilot projects being commissioned by governments will fail to bear fruit. If their legacy is to normalize the technology, blurring the lines between private, public, and hybrid chains, and making Bitcoin appear less alien, those trials will not have been in vain.

Do you think governments are genuinely interested in blockchain, or are agencies just toying with the technology? Let us know in the comments section below.


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Did you know you can verify any unconfirmed Bitcoin transaction with our Bitcoin Block Explorer tool? Simply complete a Bitcoin address search to view it on the blockchain. Plus, visit our Bitcoin Charts to see what’s happening in the industry.

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Source: Bitcoinnews.com

Heated Debate Continues Over Bitcoin Cash Infrastructure Funding Plan

Heated Debate Continues Over Bitcoin Cash Infrastructure Funding Plan

Last Wednesday, the founder of the mining operation Btc.top announced a proposal that would fund Bitcoin Cash (BCH) development over the course of six months. Over the last five days, the funding plan has been the most dominant conversation within the BCH ecosystem, as supporters debate the merits of the miner’s proposal. This week, BCH community members heard from the developer Imaginary Username, Bitcoin Unlimited’s Peter Rizun, and an opposing mining operation that dislikes the funding plan’s details.

Also Read: Bitcoin Cash Miners Plan $6M Development Fund by Leveraging Block Rewards

BCH Infrastructure Development Plan Continues to Be Scrutinized

This week Bitcoin Cash supporters have been conversing about the recently announced miner-funded development plan that was met with mixed reviews. When the idea was first announced it seemed like BCH proponents were enthusiastic, but there were individuals who disliked the concept right away. News.Bitcoin.com recently reported on Btc.top founder Jiang Zhuoer answering questions about the subject in a Reddit ask-me-anything (AMA) thread. The same day, Bitcoin ABC developer Amaury Séchet published a post about the funding subject as well. Séchet said the funding idea is “great news” just as long as the details of the funding arrangement are done right. Following the AMA and Séchet’s opinion, Bitcoin.com and Electron Cash developer Jonald Fyookball also published articles concerning the subject.

Heated Debate Continues Over Bitcoin Cash Infrastructure Funding Plan
Over the last five days, the most topical conversation within the Bitcoin Cash (BCH) community has been the infrastructure development plan.

BU’s Peter Rizun Shares His Thoughts

The debate is still one of the trending subjects on the read.cash blog and the Reddit forum r/btc today. The subreddit’s moderators even had to create a mega-thread in order to organize all the discussion that was taking place in regard to the miner-funded development concept. On January 26, Bitcoin Unlimited’s chief scientist Peter Rizun shared his opinion about the proposal and noted that the plan could become “corrupt.” “Despite the best of intentions, the developer service fee, AKA dev tax, will corrupt BCH,” Rizun insisted. “It represents a departure too far both from our core principles and from bitcoin as peer-to-peer electronic cash.” Rizun cited a number of issues he has with the developer (infrastructure) fee proposal (IFP), which he says is a more accurate description than a “dev tax.”

Heated Debate Continues Over Bitcoin Cash Infrastructure Funding Plan
Bitcoin Unlimited’s (BU) chief scientist Peter Rizun says that in his opinion, BU will probably not condone the infrastructure funding plan (IFP). On January 27, BU developer Andrew Stone published a BU improvement proposal called: “BUIP 143: Refuse the Coinbase Tax.”

“Although the service fee would create a reliable and stable mechanism to transfer money from investors to select developers,” Rizun’s opinion post discussing the IFP idea stressed. “Such a protocol change comes with great cost. Bitcoin Unlimited’s (BU’s) mandate is to foster the development and growth of ‘Bitcoin: a peer-to-peer electronic cash system’ as described in the white paper. It is my opinion that BU would not condone this radical departure that hard codes a third-party into the protocol,” Rizun added. The BU developer continued:

It is bad enough that mining is centralized to the point where it might be feasible for a cartel of miners to impose a tax on block rewards. The fact that the community is seriously considering modifying the protocol to kill-off this cartel’s competition is sickening. As Satoshi said, ‘the first transaction in a block is a special transaction that starts a new coin owned by the creator of the block.’ The community must reject any change to the protocol that would make this no longer so.

Imaginary Username Provides Alternative Ideas

The developer Imaginary Username also wrote a blog post about the subject and the read.cash thread has garnered the author more than $1,000 in BCH tips so far. Imaginary dislikes the current proposal’s specifics and has offered a number of alternative ways developers can be funded. The engineer wrote that funding could stem from direct capital investment, sponsorship, holder contributions and voluntary miner payments over mandatory miner payments. Imaginary suggested his own proposal whereby “six large holders each with 100,000 BCH can contribute $1 million each, 3% of their holdings each, and the mining tax proposal’s amount will be matched.” Imaginary’s read.cash blog post added:

They can do it every year and still come out with a huge profit, assuming the scaling benefits propel BCH to match today’s ETH market capitalization several years later. The more large holders join this proposal, the greater their returns vs investment – and it is profitable for [each of] them regardless of how many ‘freeloaders’ there are.

The software engineer says that his idea should be secured with a “Mecenas contract that releases each six month’s payments to Bitcoin ABC, or their designated agent, in monthly allotments.” Imaginary concedes by highlighting that a tool can be provided to interested holders and they can coordinate in private and tally data on a public website. “The transaction is made valid once inputs exceed the desired amount, and scheduled delivery via Mecenas contract can begin [and] this process is repeated every six months,” the developer wrote.

An Unknown Shadow Miner Speaks Out Against the Infrastructure Development Plan

Lastly, on January 27, a person called “Shadow Kwh” published a post on read.cash claiming to be an unknown miner who doesn’t like the miner-funded plan. “We are a group of North American and European miners representing, at this point in time, 1.6 exahash/s — We will represent 2.5 exahash/s come May 2020 due to expansion amongst our companies,” Shadow said introducing themselves. Shadow’s post also said the mining operation members are “empathic with protocol developers lack of funding.” They noted that the issue must be resolved over the long term. The miners then insisted that the Bitcoin Cash difficulty adjustment algorithm (DAA) has been “gamed” for quite some time and the operation stressed the funding plan will make matters worse. Shadow believes that if the four signatories’ mining pools will not debate the plan it will be “totally unacceptable.”

Heated Debate Continues Over Bitcoin Cash Infrastructure Funding Plan
A mining entity that claims to process 1.6EH/s has shared its opinion about the infrastructure plan. The mining entity’s read.cash blog post got a $2,000 tip as well.

“We will start withdrawing our support for the signatory pools and move to other pools for the time being,” Shadow’s blog post adds. “We will in the short term launch a competing BCH pool to offer a voice to miners that disagree with the proposal — We will [also] voluntarily donate 1% of our income to development teams while offering a voice to our miners on how to donate it.” The group dubbed Shadow Kwh concluded by stating:

Assuming the proposal is not withdrawn or modified to be acceptable, we will continue to mine up to the hard fork, which will create our own chain after the fork due to the consensus rule change introduced by the signatories. We definitely plan to obtain more hashrate than the signatories can muster. The market will need to decide in the days following the fork.

As far as time is concerned, there’s still around four months until the proposal would take effect, if the four signatories’ mining pools enact the plan. The proposal will also follow the upcoming BCH reward halving in the spring, which will be an exciting event on its own. A great number of BCH community members, influencers, developers, business executives, and everyday users continue to talk about the BCH miner-funded development daily ever since it was announced by Zhuoer. As the debate rages on and the days get closer toward enacting the proposal, news.Bitcoin.com will be there to keep our readers informed of the latest developments.

What do you think about the new proposal for miners to fund BCH infrastructure development? Are you for or against the current infrastructure funding plan announced by Btc.top’s founder Jiang Zhuoer? Let us know in the comments section below.


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Did you know you can buy and sell BCH privately using our noncustodial, peer-to-peer Local Bitcoin Cash trading platform? The local.Bitcoin.com marketplace has thousands of participants from all around the world trading BCH right now. And if you need a bitcoin wallet to securely store your coins, you can download one from us here.

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Source: Bitcoinnews.com

Ukraine to Oversee Crypto Transactions Above $1,200, Sees Opportunities in Legalization Not Risks

Ukraine to Oversee Crypto Transactions Above $1,200, Sees Opportunities in Legalization Not Risks

Cryptocurrency transactions in Ukraine will be strictly monitored by the state, although the country’s finance minister admits that it’s not digital coins but fiat cash that criminals and corrupt officials are more likely to use. The legalization of cryptocurrencies remains a priority in Kiev as the government has indicated its clear understanding that the benefits outweigh the risks.

Also read: New Ukrainian Law Says ‘Virtual Assets’ Can Be Used for Payments

Exchanges and Banks to Collect and Keep User Data

Operations conducted by crypto companies and other entities dealing with digital assets will be examined and verified by Ukraine’s financial regulators, Minister Oksana Markarova announced during a recent press conference. All crypto-related transactions worth 30,000 hryvnias or more, the equivalent of approximately $1,200, will be subjected to government oversight, she emphasized while briefing Ukrainian media about the newly adopted anti-money laundering rules.

Ukraine to Oversee Crypto Transactions Above $1,200, Sees Opportunities in Legalization Not Risks
Oksana Markarova

Cryptocurrency exchanges, other trading platforms and banks will be obliged to collect, store and provide authorities with detailed information about the identity of their customers, both the sender and the receiver, as well as the origin of the transferred digital money. The data will be gathered only once if a user conducts the same type of crypto transactions.

If a certain transaction raises suspicion, the operator of the platform is required to notify the State Financial Monitoring Service (SFMS). The agency has been charged with establishing the origin of the cryptocurrency and according to the finance minister, the watchdog now has at its disposal “the latest analytical tool” capable of determining where the money comes from and even what it has been spent on previously.

“There have been successful cases,” Markarova said, quoted by crypto outlet Forklog. Currently, the SFMS cannot suspend crypto operations completely but it has the authority to freeze cryptocurrency wallets and seize digital assets that have been obtained illegally or which are intended for illicit purposes, if the agency gets hold of a wallet’s private keys in the course of an investigation.

Parliament Finalizing Regulatory Framework for Cryptocurrencies in Ukraine

The powers of the financial monitoring service were expanded with a law transposing the FATF standards and harmonizing Ukraine’s legislation with European AML directives. It was adopted by the Verkhovna Rada in early December but its provisions will enter into force on April 24, 2020. The Financial Monitoring Bill introduces a set of legal terms pertaining to the crypto space, allocates supervisory duties and details that virtual assets can be traded, transferred and used for payments.

The law lists the different types of entities that can provide exchange, storage, sale, and transfer services for digital assets. It also updates the applicable penalties for various violations such as non-compliance with due diligence and customer identification requirements or breach of procedures for the creation and storage of documents. The maximum fine that can be imposed on these companies has been raised from 34,000 to 204,000 hryvnia (over $8,000). An expert group at the Rada’s Digital Transformation Committee is currently working to finalize the framework that will regulate the circulation of cryptocurrencies in Ukraine.

Ukraine to Oversee Crypto Transactions Above $1,200, Sees Opportunities in Legalization Not Risks
Verkhovna Rada

Oksana Markarova acknowledged there’s no comprehensive data about the amount of cryptocurrency Ukrainian citizens currently hold but experts believe the volume is quite high. According to a 2018 survey, 13% of internet-savvy Ukrainians owned digital coins. It was estimated that the daily turnover on the top three cryptocurrency exchanges operating in the country reached $2 million. Two of the platforms, Exmo and Kuna, already have anti-money laundering and know your customer policies in place while the world’s leading exchange Binance recently opened an account with Ibox Bank providing Ukrainians access to global markets.

Ukraine’s finance minister, representing the country’s young administration that came to power after the election of President Volodymyr Zelensky, thinks the legalization of crypto operations can bring positives to the Ukrainian economy which outweigh the risks of using cryptocurrencies for money laundering. “I think that our criminals and corrupt officials are quite conservative and still keep funds mostly in cash. Therefore, in the legalization of cryptocurrencies, I see opportunities for the development of this industry in our country, and not a threat,” Markarova stated in an interview with the online magazine MC Today.

Cryptocurrency exchanges and digital coin issuers were recently listed among the “key players of the financial ecosystem” in Ukraine’s new Financial Sector Development Strategy 2025. The document, prepared by the country’s financial regulators, including the National Bank and the Finance Ministry, also mentions blockchain development as one of five “strategic goals” of innovation growth.

Do you think Ukraine will attract more crypto businesses by providing greater regulatory clarity for the industry? Share your expectations in the comments section below.


Images courtesy of Shutterstock.


You can now purchase bitcoin without visiting a cryptocurrency exchange. Buy BTC and BCH directly from our trusted seller and, if you need a bitcoin wallet to securely store it, you can download one from us here.

The post Ukraine to Oversee Crypto Transactions Above $1,200, Sees Opportunities in Legalization Not Risks appeared first on Bitcoin News.

Source: Bitcoinnews.com

5 Online Casinos That Accept Bitcoin Cash

5 Online Casinos That Accept Bitcoin Cash

Digital cash was the original use case for bitcoin, and it remains the primary one for bitcoin cash (BCH) today. The ability to send funds anywhere in the world quickly and cheaply has made bitcoin cash a popular choice for online casino players. There are scores of gaming sites where you can deposit BCH and other cryptos and then withdraw your winnings in the same manner. Here’s a snapshot of what these crypto-friendly sites have to offer.

Also read: How to Create Custom SLP Tokens With the Bitcoin.com Mint

Mintdice

Dice is a long-standing favorite among bitcoiners, some of whom fondly recall playing Satoshi Dice in the early days, when the hi-low gaming site provided one of the first use cases for bitcoin. At Mintdice, you can roll the dice to your heart’s content, or have a go at Bit.Rocket, a social bitcoin game that combines skill and luck. There are also slots and plinko games to be tried. The latter is a board game based on a popular TV gameshow that entails climbing a staircase to the top of the board, with various prizes appearing along the way.

5 Online Casinos That Accept Bitcoin Cash

Mintdice accepts BCH and BTC plus around a dozen other cryptos including privacy coins like XMR and PIVX. Once your onchain deposit has cleared, you’re free to start playing. Mintdice supports anonymous accounts that require only a username for players who value their privacy, but full accounts are also available.

5 Online Casinos That Accept Bitcoin Cash

Wild Casino

Fiat and crypto are supported at Wild Casino, but deposit with the latter and you’ll receive a bigger bonus of up to $9,000. As seasoned players will know, casinos typically offer to match your first deposit by way of a welcome bonus. To claim the maximum amount proffered, therefore, you would have to deposit an equally large sum. Not only does Wild Casino accept bitcoin cash, but it also takes BTC, ETH, and, unusually, XRP. In terms of games, the casino serves up a familiar blend of slots, blackjack, table games, video poker, and a live casino.

5 Online Casinos That Accept Bitcoin Cash

Mbit

Mbit is a proud bitcoin-first casino that pledges a welcome bonus of up to 5 BTC. The site, which was established in 2014, serves up 2,000 games, requires no account to play, and enables players to cashout in less than 10 minutes. In addition to bitcoin cash, Mbit allows players to use BTC, DOGE, LTC, and USDT. There’s also a VIP program whose tiers are named after cryptocurrency planets. 500 points will take you to Planet Bitcoin Cash, while The Moon is “by invitation only.”

5 Online Casinos That Accept Bitcoin Cash

1xbit

If a casino has “bit” in its name, it’s a sure sign it’s crypto friendly; it’s just a case of which cryptos it accepts. At 1xbit, the answer is “all of them.” In addition to BCH and BTC, there are less fancied coins like BTG and XVG accepted. You’ll receive a 100% welcome bonus of up to 1 BTC, and in addition to casino games, 1xbit has an extensive sportsbook and a separate esports section. Alternatively, if sports aren’t your thing you can bet on politics instead.

5 Online Casinos That Accept Bitcoin Cash
Cash Games

Cash Games

Perhaps the best known gaming site for BCH fans is Bitcoin.com’s Cash Games. As a gaming site built around bitcoin cash, it features a leaderboard that pays out $1,000 in BCH bonuses to slots players, and there’s no need to create an account to play. Built-in coin conversion, implemented using Sideshift.ai, allows players to switch from other cryptos such as BTC to BCH in order to play.

All of the games on the site are provably fair, which entails taking a random number and cryptographically hashing it, which can later be used to show that the outcome of the game hasn’t been manipulated. There’s a jackpot of up to 10,000 BCH for playing slots and 5,000 for keno. Instant cashouts come as standard and so does player anonymity.

What other BCH casinos have you tried? Let us know in the comments section below.

Disclaimer: This article is for informational purposes only. It is not an offer or solicitation of an offer to buy or sell, or a recommendation, endorsement, or sponsorship of any products, services, or companies. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.


Images courtesy of Shutterstock.


Did you know you can verify any unconfirmed Bitcoin transaction with our Bitcoin Block Explorer tool? Simply complete a Bitcoin address search to view it on the blockchain. Plus, visit our Bitcoin Charts to see what’s happening in the industry.

The post 5 Online Casinos That Accept Bitcoin Cash appeared first on Bitcoin News.

Source: Bitcoinnews.com