Buying Cryptocurrency, Coins, Markets, News

The Korean phenomenon, LitePay shuts down and more.

Reportedly, a third of Korean adult population owns cryptocurrency, which explains the public uproar which followed the news of ICO regulation. South Korea benefits from its geographical proximity to China and as we see multibillion-dollar corporations funding exchanges, we understand that Malta’s ambitions to become a leading “cryptonation” are of the “in your dreams” category; Binance or not.

The LitePay startup, which ambitiously promised to introduce a debit card, wallet, etc., thus finally achieving a long-standing dream of integrating a currency into everyday payments and which fuelled the LiteCoin market price for days, has been denounced by Charlie Lee and  ingloriously shut down. “I am sorry for having hyped up this company and vow to do better due diligence in the future.”, – Charlie Lee.

CoinBase is by far not the only exchange which allows its users to effortlessly buy Bitcoin with a credit or debit card. EXMO, an established exchange with only a few pairs, but impressive trade volume, proportionate to its size,  as well as low fees. A partnership with Simplex, a payment processor, allows EXMO users to deposit EUR, USD and PLN straight to exchange using VISA and MasterCard.

“Simplex – is a payment processor providing the online payment handling, ensuring the integrity and security of the operations, and also contributing to fraud prevention within the financial sector.”

exmo buy bitcoin visa mastercard

Register at EXMO.

Read More: Continue reading “The Korean phenomenon, LitePay shuts down and more.”

Buying Cryptocurrency, Coins, Markets, News, Scams

NEWS: Google bans ICO ads, Coinbase approved by FCA and more

Goodbye, ads of pump-and-dump ICOs!

Google is going to ban all ICO-related adverts, as well as advertisement of wallets and agencies offering investment advice. We applaud Google. Recently, the cryptocurrency market went mad; it seems that a pretty website (preferable), fake promises (necessary), a whitepaper (can be composed of random generic rewritten material from actual whitepapers), some mention of the words “decentralised”, “cryptocurrency”, “projected price by 2020”, plus some investment in advertising online = successful pump-and-dump ICO. We have saved a number of examples which we will later break down, – the situation is turning into a joke. A bad joke.

Sources: 

https://www.bloomberg.com/news/articles/2018-03-14/google-to-ban-cryptocurrency-initial-coin-offering-ads-in-june

https://www.cnbc.com/2018/03/13/google-bans-crypto-ads.html

Common sense prevails.

South Korea most likely to revert its ban on ICOs and cryptocurrency exchanges, allowing South Korean companies to raise funds via ICOs. Although the initial story was hyped beyond its actual significance and often misinterpreted, today’s news are nothing but good. South Korea is a significant cryptocurrency market and introducing draconian regulations could lead to… Using some loopholes, South Korean startups would prefer… North Korea.

Sources: 

http://fortune.com/2018/03/12/south-korea-cryptocurrency-ico/

https://www.investopedia.com/news/cryptotrading-and-icos-now-allowed-south-korea/

https://www.coindesk.com/south-korea-may-lift-ico-ban/

Coinbase approved by UK’s FCA

…and becomes as “legit” as can be. For those who can afford it, buying yourself into the world of cryptocurrency trading becomes much easier (specifically for UK and EU users). Coinbase gained access to FasterPayments thanks to an agreement with Barclays (a first deal between a major UK bank and a major cryptocurrency exchange), which means that buying bitcoin using a credit or debit card becomes as easy as making an Amazon purchase.

Quoting from the Coinbase newsletter:

“We are happy to announce that Coinbase has received an e-money license from the Financial Conduct Authority (FCA) in the UK. The license will allow Coinbase to issue e-money and provide payment services across Europe. For our customers, this will ultimately help us deliver a better experience through new partnerships and an easier to use product.”

We wonder; when will we see a first reputable cryptocurrency debit or credit card? Is this another step towards making the profits from cryptocurrency faucets and exchanges as effortless?

Sources

https://techcrunch.com/2018/03/13/coinbase-emoney/

https://www.cnbc.com/2018/03/14/coinbase-cryptocurrency-exchange-opens-bank-account-with-barclays-in-uk.html