Category: Crypto

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Crypto News

MyEtherWallet Allows Ethereum (ETH) Purchases With Credit Cards

The developers of MyEtherWallet (MEW), one of Ethereum (ETH) most widely used wallets, reported on Wednesday, July 18th, that customers of the platform can now purchase Ethereum (ETH) by paying with their credit cards.

In accordance with a MyEtherWallet tweet, customers of this cryptocurrency wallet can now acquire Ethereum (ETH) via Visa or Mastercard credit cards in either US Dollars or Euros. That is achieved thanks to an agreement between MyEtherWallet and Simplex, a business devoted to non-fraudulent payment services for the cryptocurrencies market ecosystem using credit cards.

Credit card transactions have a minimum first purchase limit of $50 and a maximum limit of $10,000. Also, to respect the Simplex terms, the monthly trading volume for each card is $50,000, with a maximum daily trading volume of $20,000. These limits are being shared by the investment services firm Abra, which last week advertised the deployment of Simplex to their business services.

It is now possible to buy Ethereum (ETH) on MyEtherWallet using credit cards, once again

The recent reports made by MyEtherWallet and Abra announce the re-establishment of the cryptocurrencies purchases on credit, for the first time since February this year when several banks including JPMorgan, Lloyds Bank, Citi Group, and Bank of America ruled out the option for their customers to buy Bitcoin (BTC) using credit cards.

Back then, they argued that the volatility of the cryptocurrencies market represented a risk for investors. This corporative action removed the opportunity for these banks’ customers to buy cryptocurrencies on credit. Because of this move, the total number of Mastercard transactions being processed declined by 2% in the first quarter of 2018 as compared to the same period in 2017, reported Mastercard’s Chief Financial Officer Martina Hund-Mejean.

Currently, no other limitations on the MyEtherWallet service are known to exist, excluding the restrictions on Abra, where it is impossible to purchase Bitcoin (BTC) in 13 countries, as a result of alleged Simplex constraints.

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Crypto News

Bitmain Crypto Mining Equipment Manufacturer To Expand Its Operations In Brazil And The USA

The company that manufactures equipment for the cryptocurrency mining, Bitmain, announced the opening of a new office in Brazil and, according to other information, is also setting up a new office in the Silicon Valley, California, in the United States.

The information on the expansion plans to South America was confirmed by the company, which indicated that the new office in Brazil would be destined only for the sale of equipment. Bitmain’s general manager of communications, William Davidson, said the company’s operations would not initially be large or linked to the installation of crypto mining farms, but rather to technical service activities.

The Bitmain executive said a single office would be opened in the city of Sao Paulo, but did not provide details on the local staff that might be required to begin operations in the South American country.

Bitmain crypto mining equipment manufacturer to expand its services to the USA

At the same time, the Silicon Valley Business Journal reported on July 16th the recent establishment of Bitmain in the Silicon Valley, California, where offices of approximately 1,858 square meters were installed. The crypto mining company is said to have filled the last vacancy in the city’s Riverpark Towers office building, known as the hub of many new technology companies.

This information is circulating shortly after the announcement of the strengthening of Bitmain’s workforce in Israel, where 40 new professionals will be hired for developing a center in the city of Ra’anana in the Central District. There Bitmain will recruit blockchain researchers, senior software and security engineers, as well as marketing staff, Python and JavaScript programmers and quality control staff.

Also, last February, Bitmain opened a technical support office in Irkust, Russia, one of the largest cities in Siberia and one of the most attractive areas in the world for crypto mining thanks to the cold climate. According to media reports, the idea is to attend more directly to the needs of the growing market in that country and to provide support to all Russian residents who need to have their ASIC devices manufactured by Bitmain repaired.

With this new move, Bitmain crypto mining equipment manufacturer aims to expand its services in South America and the USA.

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Crypto Markets News

Bitcoin (BTC) And Cryptocurrencies, In General, Criticized During The US Congress Session

On July 18th, the US Congress was the scene of several discussions on cryptocurrencies, in general, and Bitcoin (BTC), in special. Federal Reserve (FED) Chairman Jerome Powell and Democratic Senator Brad Sherman used their speeches in the Chamber to express their negative views on the issue.

Powell said that, despite their growth and the interest they have generated in the population, the cryptocurrencies are not yet large enough to compromise the country’s economic and financial well-being. The head of the FED expressed his displeasure with the issue, assuring that these tools are not among the priorities of the institution he heads. For him, they are assets for money laundering and pose significant risks to investors.

Also, he assured that the FED is not working on adopting its own cryptocurrency. For him, most crypto holders sell and pay in dollars, and he added that cryptocurrency is not a right way to preserve value because of its volatility.

Despite the negative US Congress views on cryptocurrencies, the US SEC might approve Bitcoin (BTC) ETFs trading

But despite pointing out the criminal uses of cryptocurrencies, Powell’s position was not as openly negative as that of Brad Sherman, a congressman and member of the California House of Financial Services. For him, the federal government must ban U.S. citizens from investing in cryptocurrency.

In the United States, authorities are watching out for illegal activities with cryptos as well as their legal status. A House subcommittee recently held a hearing to address the anonymity of cryptos transactions, raising concerns about the possible use of these assets for illicit purposes.

For its part, the Department of Justice, in conjunction with the U.S. Futures Trading Commission, could be on the trail of possible illegal practices that could influence the bitcoin market, especially regarding trading activities.

The Securities and Exchange Commission (SEC) received more than 60 comments, mostly in favor of Cboe Global Markets’ request for approval of Bitcoin (BTC) ETFs, an issue that has been on the company’s agenda and has been taken up again by the company. Most commentators highlight the benefits that investors in that country would obtain from the acceptance of Bitcoin (BTC) ETFs trades.

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Crypto News

Stellar (XLM), Cardano (ADA), And OmiseGO (OMG) Skyrocketed Thanks To Good News

The cryptocurrencies market showed yesterday a general increase that has led to different altcoins such as Stellar (XLM), Cardano (ADA), and OmiseGO (OMG), to score significant gains. The total crypto market reached a value of more than $296 billion on Wednesday, according to CoinMarketCap.

In order to know the causes that are generating this behavior, two types of factors come into play. The first is the global aspects of the ecosystem itself, which include the good times the market is experiencing and the momentum it has taken over the past few days. The second relates to each particular crypto and the announcements that have been made over the past week that have had a positive impact.

Stellar (XLM) is Sharia-approved

Stellar (XLM), the sixth most valuable currency by market capitalization received a certification on Tuesday to use DLT technology in Islamic financial institutions. The trading volumes in the hours following the announcement were over $200 million, which led to a rise of 27% in XLM price. However, at the time of this writing, Stellar (XLM) trades at $0.30, scoring a 1.56% increase in the last 24 hours.

Cardano (ADA) might get on Coinbase

The market’s momentum also boosted Cardano (ADA), which experienced a 13% jump on Wednesday, although it already shows a slight correction, and is now trading at $0.18 increasing by about 2.1% in the last 24 hours.

The increase, which is still going on, could be due to Coinbase’s announcement that it is considering adding Cardano (ADA) to its platform, along with Zcash (ZEC), Stellar (XLM), Basic Attention Token (BAT), and 0x (ZRX).

OmiseGO (OMG) teamed up with McDonald’s in Thailand

In the case of OmiseGO, which rose 5% yesterday, the cause of its rise could be the announcement made by the CEO of McDonald’s in Thailand, Hester Chew, who talked about the successful conclusion of the partnership with the OmiseGO platform. The performance of this currency has been very uneven over the last day and is currently showing a slight correction.

As you may recall, McDonald’s subsidiary in Thailand reached an agreement last September establishing the use of the cryptocurrency payment service provided by OmiseGO.

OMG is now trading at $8.04, dropping by about 1% in the last 24 hours.

In short, yesterday, only good news surrounded a few of the most appreciated altcoins in the cryptocurrency market, including Stellar (XLM) and Cardano (ADA).

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Crypto News

Bitcoin (BTC) Debated At The “Delivering Alpha Conference” In New York

Barry Silbert, founder and CEO of Digital Currency Group, said he is optimistic about Bitcoin (BTC) as an investment asset, CNBC reported.

Barry Silbert, CEO of Digital Currency Group, and Jeremy Allaire of Circle are bullish about Bitcoin (BTC)

In his speech at the Delivering Alpha Conference in New York on Wednesday, Silbert said he thinks that “we have probably hit rock bottom over the year. In fact, I put some money in Bitcoin last week.” He added that “as an asset class it is here to stay. I’m 100 percent sure that a form of decentralized, non-trust money is here to stay.”

Jeremy Allaire of cryptocurrency startup Circle, supported by Goldman Sachs and Baidu, also addressed the conference. Allaire said that the blockchain technology would form the basis of all the new technological innovations.

This is a new layer of Internet infrastructure. It’s going to replace what the operating systems do. It’s the future of the Internet. This is not about digital gold.

Jeremy Allaire, Circle

Younger generations should focus on other fields than investing in Bitcoin (BTC), thinks Ken Griffin from Citadel

Ken Griffin, the CEO and founder of Citadel’s hedge fund, is more skeptical about the leading cryptocurrency of the market, Bitcoin (BTC). At the same conference, he admitted that he “still scratches his head” on BTC, saying that the younger generation should “do something more productive than investing in digital coins.”

Today, Avenue Capital Group co-founder Marc Lasry shared Silbert’s positive stance, stating that BTC will soon reach $40,000. He said, “as you get more into the mainstream, and as more markets end up allowing you to trade where you can trade freely, that’s more of a gamble for me.”

At the moment of this writing, Bitcoin (BTC), the leading cryptocurrency by market cap, trades at $7,453, surging by about 0.23% in the last 24 hours,

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