10 Bitcoin Platforms you Need to Try This Year
Bitcoin is a creative payment network and a new kind of money. Peer-to-peer technology is used by Bitcoin to run. There is no central authority or banks. Doing transactions and the issuing of bitcoins is supported collectively by the network exclusively. Bitcoin is open-source. The design of Bitcoin is public; nobody possesses or regulates Bitcoin, and anyone can take part. Through most of its unique properties, Bitcoin allows fascinating uses that could not be covered by any previous payment system. If you’re going to start with Bitcoin, there are some essential things you should know. Bitcoin allows you to exchange money and transact in a separate way than you usually do. Due to these reasons, you must take time to gather information about various aspects of Bitcoin before using Bitcoin for any serious transaction. Bitcoin should be handled with the same care as your regular wallet, and they need even more responsibility in some cases. The main points you have to keep at the back of your mind every time you do a transaction are:
- Bitcoin price is volatile
- Bitcoin payments are irreversible
- Bitcoin is not anonymous
- Unconfirmed transactions aren’t secure
- Bitcoin is still experimental
With those being said now we will be focussing on the top platforms where you can buy or sell Bitcoins.
Binance: Binance is a swiftly growing exchange that finished its ICO a few months back. It is based in China, but you can access it from almost all over the world, making it one of the most loved Bitcoin exchange platforms. To get registered in Binance, you need your email ID, and the process is straightforward and fast. Also, you will get 1 QTUM coin as a kind gesture for registering which is for the first 10,000 QTUM coins buyers.
Bittrex: The clean design and its easy usability make it a personal favorite for many. The exchange is based in the USA and offers you the opportunity to trade more than 190 cryptocurrencies at a time. The security of this platform is also very high. The registration process is straightforward, but you will need KYC and phone numbers to withdraw funds. But the good thing about Bittrex is that the process does not take long to get approved.
Poloniex: If you need the trust trading volume and supported cryptocurrencies, you are on the right track with Poloniex. The easiest of all the platforms as you can deposit with any cryptocurrency and even with tether dollars and start your trading thing right away. The best cryptocurrency exchange in this platform, in my opinion, is Altcoins.
HADAX: Hadax is an exchange launched by Huobi pro. Huobi Pro is one of the ruling global digital asset exchanges serving global traders since 2013. Named as the world’s first autonomous token listing exchange, they have introduced HT tokens to make themselves a decentralized governed platform. HADAX stands for ‘Huobi Autonomous Digital Asset Exchange.’
Kraken: One of the largest Bitcoin exchanges in the USA based in San Francisco. With the help of Kraken, you can trade other cryptocurrencies like Etherium & Zcash. Getting started is very easy and typically takes about 1-2 days for verification. The first wire transfer will take many days which can be strenuous for new users. But once the first deposit is made successfully, things will become a lot smoother.
Bitstamp: Another popular Bitcoin exchange that assures to be the first fully licensed exchange. Users can buy bitcoins using their credit or debit card on this platform. They also have a pretty interface with iOS and Android apps that help users to maintain their accounts from phones. Bitstamp is greatest for traders who are looking for an advanced exchange for buying/selling bitcoins to make a profit. Some other features of Bitstamp are Sub-accounts, SMS price alerts, High security, 8% fees for credit card purchasing.
Gemini: Gemini is a New York City-based exchange that also operates in Europe, North America, and Asia. They offer two types of accounts, individual accounts, and institutional accounts. Their price is pretty competitive, and their interface is easy for beginners’ use. If you are looking to open a corporate account for Bitcoin trading in the USA, Gemini is a great option.
OKCoin: OKCoin is another China-based Bitcoin exchange platform. They allow you to use USD for trading purpose. They also have an easy interface and great support. It will take not more than two days to verify your details and get you started. Once you get all set, you can start trading your money. The transfer fees they charge are 0% that makes it a great platform to work. They also offer a dedicated account manager.
Coinbase (GDAX): The most popular platform to exchange Bitcoins in America. They provide you with iOS and Android apps to handle the exchanges from your phone. They also have the neatest interface. Coinbase lets you buy and sell Bitcoins, but for trading purposes, you have to get GDAX for their official exchange. They also offer you a USD 10 for the first transaction of USD 100.
Here I have mentioned the top Bitcoin exchange platforms, but as I have mentioned earlier Bitcoin market is volatile, and so are the exchange platforms. That means soon some other will overtake this or some new will come in the race. But a warning for all the Bitcoin users that is fine to use these platforms for trading but to use as wallets you need to switch to something like LedgerWallet, Coinomi or Trezor.
New Loom Network CEO clarifies concerning information published by former employee
One of Loom Network’s former employees recently leaked information about the company’s Kickstarter-funded game, Relentless (also called Zombie Battleground). The leak alleged that the project, and potentially the entire Loom Network, were no longer actively being developed. The former employee, who has not worked for the company in over a year, claimed that the issues largely stemmed from Loom’s former CEO, Matthew Campbell. Campbell left Loom in Feb. 2020, and was replaced by a new CEO.
“Dilanka accessed our Kickstarter account without authorization and sent out that rambling update,” Vadim Macagon, the current CEO of Loom Network, told Cointelegraph on Sept. 24. “He was let go almost a year ago because he started behaving erratically, and was quite open to some of his team about his drug use (and not just the drugs he mentioned in the update he just published).”
A Sept. 24 tweet from tech expert Bruno Skvorc notified the public of an email sent out to backers of the Relentless project. Cointelegraph reached out to Skvorc for further details, and received a link to the email in question. The email came from “Dilanka,” who worked in the project’s growth and marketing department.
Dilanka asserted that both projects were dead, “or at the very least, currently on life support in the middle of an unpleasant pivot focused on healthcare.”
Loom conducted its initial coin offering, or ICO, in 2018. On May 9, 2020, rumors circulated about Loom’s potential demise, as evidenced by a lack of communication from the project on various channels. Loom responded to the article through Twitter, asserting the company was still very much alive, but wading through a transition into government and healthcare-based enterprise blockchain work. According to Dilanka, the company has not come forward with any new developments since May 26. Loom’s Twitter account, however, uploaded a number of tweets since that time, including a roadmap for the year which was posted on June 30.
Relentless’ downfall, and Loom Network’s alleged failure as a whole, resulted from “lack of product market fit, mismanagement of resources, incompetent leadership from the founders, and a lack of appreciation and transparency toward you, the community who entrusted us with you hard earned money,” Dilanka said, giving his opinion on the situation.
“I (along with many of our former team) was let go almost a year ago, and the fact that I still have access to this Kickstarter account (which I clearly shouldn’t) is another good example of the incompetence I am talking about.”
Dilanka, who somehow maintained access to the Kickstarter account associated with the game, said he has received notice of incoming questions about Relentless over the past year from backers looking for updates.
Dilanka went on to cite a number of issues around the Loom Network, including a lack of communication, as well as questionable actions from former Loom CEO Matthew Campbell.
One example includes Campbell allegedly terminating development on Relentless in 2019, without telling funders, as well as making sure the news did not surface publicly. Loom Network reportedly put more than $1.5 million into building Relentless.
Dilanka, however, provided a disclaimer:
“I don’t know what kind of pressure he [Campbell] was under by investors or what his story is as this is purely my own opinion based on my limited, one dimensional interactions with him as a ‘team member’ of Loom via Slack. In fact, take all of what I say with a grain of salt — I could be 100% wrong about everything. Do your own due diligence and make up your own mind. But yes, had I not worked remotely and Matt was within proximity, I would have happily punched him in his very punchable face to soften his keyboard warrior tendencies in the interest of teaching him some manners… and yes, I made sure to tell Matt (and Luke et al.) [other Loom brass] how I felt about him when things started to go south.”
Loom Network’s current CEO, Macagon, provided insights from the other side of the table. “I’m not going to comment on the outright slander against Matthew Campbell, instead, I’ll focus on the facts,” he said. “Dilanka didn’t lie about the fact that Loom spent more than $1.5 million USD on the game, after all, it was part of our core thesis during the first stage of our startup.” Macagon explained the Kickstarter funding resulted in less than $300,000.
The company put the aforementioned $1.5 million toward constructing “a playable real time game running fully on chain with its own APIs and block explorers,” Macagon said. Relentless boasted an entire experience built on blockchain. More than $200,000 of the $1.5 million was used for marketing — the department in which Dilanka worked.
“We didn’t sell any cards over a few dollars, host any NFT auctions, nor engage in any crypto style fundraising,” Macagon said. Relentless stood as the result of significant time and effort by the team, in part evident in the project’s Github activity. Public appreciation, involvement and popularity never caught on, however, the CEO explained. He said that despite the team trying all conceivable approaches, success proved elusive, spurring the company in a different direction while leaving the game behind.
“I understand that drama is always interesting, but compared to most of the drama in the crypto space, ZombieBattleground is just a normal startup failure,” Macagon said, adding:
“I can understand Dilanka’s frustration to a certain extent, though I don’t understand the state of mind that led him to access our Kickstarter account without authorization, and then publicly admit to breaking contracts and potentially laws. Dilanka is no whistle-blower, he’s just high on something.”
Tax bitcoin as a currency, Israeli political party proposes
New bill proposes to change taxation approach towards bitcoin Bitcoin and crypto assets are subject to 25 percent taxation Another bill seeks to amend reporting intervals for cryptocurrency traders Israel is considering whether to tax bitcoin as a currency, changing the current taxation approach towards crypto. According to a local media outlet, a political party has […]
- New bill proposes to change taxation approach towards bitcoin
- Bitcoin and crypto assets are subject to 25 percent taxation
- Another bill seeks to amend reporting intervals for cryptocurrency traders
Israel is considering whether to tax bitcoin as a currency, changing the current taxation approach towards crypto. According to a local media outlet, a political party has proposed a new bill to change the laws governing bitcoin’s taxation by accepting it as a currency. The new bill, which was submitted in the Israeli government’s Knesset legislative branch, recommended several modifications for cryptocurrencies.
In Israel, the revenue generated from trading bitcoin and other cryptocurrencies is subject to a 25 percent tax. As such, the new seeks to exempt bitcoin from capital gain taxation by amending the Income Tax Ordinance. The legislation was presented by four members of the Yisrael Beiteinu party on September 22.
Tax bitcoin as a currency, not an asset
In May last year, an Israeli central district court ruled in favor of the central bank, which recognizes bitcoin as an asset. A blockchain entrepreneur, Noam Kopel, had appealed against the decision to impose taxes on bitcoin by Israel’s tax authorities. Kopel argued against taxing the sale of bitcoin. A new attempt to tax bitcoin as a currency has just begun.
Bitcoin’s status as an asset in Israel is subject to capital gains tax. Tax agencies only offer reliefs to CPI-related lenders and sale of bonds and commercial securities who only pay 15 percent from gains generated.
Nevertheless, the legislators argued that the discernment towards cryptocurrencies needs to be reevaluated. Furthermore, the legislation seeks to add another section on Income Tax Ordinance regarding the “determination of distributed digital currency.” The finance minister can specify the terms for recognizing cryptocurrencies as a distributed digital currency fro the section.
Another cryptocurrency bill tabled in the Knesset
Besides, the Knesset received a separate bill seeking to define reporting intervals for cryptocurrencies to taxation authorities. The new bill wants to space the reporting intervals for digital assets once every six months or once every year.
Currently, cryptocurrency traders in Israel report the sale of a crypto asset after 30 days are over. The new legislation is looking to extend this interval to once every year or once every six months. Recognizing bitcoin as a currency might be the gateway to increased adoption of cryptocurrencies in Israel.
Twitter Implements New Policies and Steps Up Security Following July’s Hack
Following July’s hack-turned-Bitcoin-scam, Twitter has implemented new policies and training to prevent a shutdown of their worldwide service. On July 15, 2020, Parag Agrawal, Twitter chief technology officer, began hearing about phishing scams around the company’s offices. Someone was calling up engineers, pretending to be IT, and getting them to reset their passwords. In fact, […]
The post Twitter Implements New Policies and Steps Up Security Following July’s Hack appeared first on BeInCrypto.
Following July’s hack-turned-Bitcoin-scam, Twitter has implemented new policies and training to prevent a shutdown of their worldwide service.
On July 15, 2020, Parag Agrawal, Twitter chief technology officer, began hearing about phishing scams around the company’s offices. Someone was calling up engineers, pretending to be IT, and getting them to reset their passwords.
In fact, they were hackers phishing credentials to get into Twitter’s corporate network. The coveted OG username handles @drug, @xx, @vampire, were being hacked, and Twitter’s rapid response team was handling it, at first.
That was until Binance’s account tweeted that they were giving back $52 million dollars to the community, and Elon Musk’s account was tweeting an old Bitcoin scam. Agrawal told Wired that by around 4 pm ET, every device he had was buzzing.
Soon, Bill Gates, Uber, and even Jeff Bezos proved to be compromised as well. Agrawal had a decision to make: would he shut down all of Twitter or just these accounts? There was also the issue, Wired noted, of being unable to inform the public of Twitter’s hack when news accounts themselves might be compromised or locked.
These questions all led to an overhaul of Twitter’s security policies and activities.
Training for Specific Types of Security Breaches
Since July’s attack, Twitter has been planning for the upcoming US General Election, a day when a media hack could be detrimental to the public. On Sept. 24, Twitter revealed new security protocols, mandatory employee training, and policy shifts.
According to Twitter’s blog post, higher scrutiny will be given to company individuals getting higher security clearances. The security team has also implemented more rigorous software to automatically detect unlawful or suspicious activity.
Though the post does not discuss the details of the mechanism, it still urges users to provide higher security to their own accounts, such as two-factor authentication. It also suggests that some high profile accounts now have tighter security.
The new protocols also include better testing and education. New employees will undergo more rigorous security training, the security team has updated passwords and keys, and a special “penetration testing” occurred during March until August of 2020. This task force trained for specific types of security breaches.
The July attack required some evasive maneuvers to patch up. The security team felt they could not shut down Twitter all together. At the time, they did not have a mechanism in place to identify compromised accounts. Damien Kieran, Twitter’s global data protection officer, told Wired this put him in a tough position. He said:
“We had to assume everyone was untrustworthy.”
So, Twitter decided to shut down all verified accounts. This included many news services that could communicate about the hack.
Twitter said it took them over a month to get back to a baseline, though not all employees received their formerly high levels of security clearance. Users with 10,000 followers or more, a former Twitter security engineer said, would likely see more stringent scrutiny. Likewise, some high-level approvals now require two sign-offs. The idea is that it would be much harder to coordinate a takeover of two seemingly unrelated internal accounts.
Following the July breach, Twitter quietly blocked Bitcoin addresses from tweets. The company has not said exactly what other automatic filters it has implemented.
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