New Bitcoin ATM Location Pops Up in Miami International Airport by Bitstop

Bitstop has recently installed a Bitcoin (BTC) ATM machine on the Miami International Airport. This marks an important milestone as the airport has never had such a machine before, despite how common they are found across the U.S.

According to the company, this was a strategic location to set up a BTC ATM. This is one of the busiest airports in the whole country and it has a lot of international traffic, meaning that people may need to buy Bitcoin, as not everybody wants to buy fiat currency to use somewhere else.

The airport is also known as the largest airport between the US and Latin America, which makes it very important for business in general.

Doug Carrillo, the co-founder and current Chief Strategy Officer at Bitstop has talked about the situation, the new ATM will be very useful for travelers. A lot of people are choosing to use Bitcoin instead of fiat currency these days, especially because more places are accepting it and they are very convenient when traveling abroad.

This is set to be the 130th ATM that Bitstop installed in the United States. The goal of the company is to have at least 500 Bitcoin ATMs in the country before the end of 2020. When we look at the numbers worldwide, there are over 5,750 Bitcoin ATM machines all over the world. The number is set to more than double within the next few years.

Next time you are at the Miami Airport and want to check it out, or if you are there now, the new machine has been installed in Concourse G right next to Gate 16.

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Author: Hank Klinger

China Invests Billions After Economy Slows Down, Can Bitcoin and The Crypto Industry Benefit?

After months of trading tensions with the United States, China has perceived that it’s economy is no longer growing as much as it once was before. Now, in a swift move, the People’s Bank of China has decided to inject around $28 billion USD into the economy to boost it. The money was pumped into the economy via loans made to commercial banks.

Now, several experts are trying to determine whether this new boost of money in the country can affect the crypto market, too. On prior occasions, investors of the country chose to invest in Bitcoin, even though there is officially no BTC market in the country.

Yuwa Hedrick-Wong, an economics commentator on Forbes Asia, confirmed that China seems to be trying to decouple itself economically from the United States. While this might be good for China in the long-term, it is bad for the economy in the short-term, which means that profit will go down everywhere.

Bitcoin can certainly be a way out, as it is a decentralized currency that can, up to a point, be used as a borderless currency. While it lacks the structure and the adoption to be even more important, Bitcoin is certainly present and relevant in China. Tether is also being used in the country in large quantities.

All of these aspects point out to the possibility that wealthy Chinese investors might decide to spend their economic boost in crypto’s, which would definitely make the market more vibrant and push prices forward. Now, we have to wait and see if these theories will really happen or if the Chinese investors will lose on this chance.

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Author: Gabriel Machado

Venezuelan President Pushes for Petro Crypto Adoption with Latest Govt. Fund Allocations

In an effort to dig out the country from the deep hole of hyperinflation, sovereign debt and sanctions from other economies, President Nicolas Maduro, Venezuela’s leader, is set to implement an aggressive strategy focused on its national cryptocurrency – Petro.

Government projects to be funded using Petro

In a state address on Tuesday night, Maduro urged the country to embrace the use of its Petro cryptocurrency urging the populous to switch from the growing dependence on US Dollars. Maduro will set up government developmental funds – denominated in petro and euros – in a bid to spark economic growth in the country.

In the address, Maduro promised each state and protectorate a total of 1 million petros twice a month to spark the use of the national crypto in the government. The protectorate and state governments will have the free will to spend the amount in development projects in their areas. To explain the magnitude of the announcement he said,

“In concrete terms, this means, my compatriots, which we are assigning between 1,354,000 euros and 3,249,600 euros to governors and protectorates.”

While most of the Petro stash is expected to be distributed to the state governments, the national government projects will also receive part of the funds.

The telecommunications department will receive 4 million petros; 1 million petros to spark agricultural development, 600,000+ petros for inputs and machinery and a further 9 million petros for road construction. The country also holds a joint fund with China to which $2 million USD worth of petro will be stashed.

Venezuela embraces crypto adoption

In August, the head of digital asset activities within the Venezuelan government urged the citizens to embrace the use of Petro for their everyday needs. Joselit Ramírez, asked Venezuelans to use the government sponsored, Patna Remesa platform to make global remittances and international payments using the cryptocurrency.

Furthermore, government backed exchange, CriptoLAGO, announced the launch of crypto debit cards in the country offering users a gateway to easily purchase and use Bitcoin, Litecoin, Dash and Petro in daily activities.

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Author: Lujan Odera

Banque De France Governor: Crypto Assets Need a ‘Same’ Global Regulatory Framework

Denis Beau, the deputy governor of the French central bank, also known as Banque de France, has called out for a more global approach to regulation for crypto assets. According to him, there is a need for more consistency in deciding how to regulate the crypto world.

Because of this, the only way to properly ensure that the standardization is happening is to really reunite and set up the guidelines.

His comments come at a time in which Facebook’s Libra project has raised several doubts in the world about how to deal with a project such as this one. Beau cited Facebook’s currency and also talked about central bank digital currencies (CBDCs), which haven’t been launched yet, but will certainly be soon.

Beau affirmed that he hoped that more banks would experiment with their own digital assets, as he was very bullish on the technology, especially in the long term. According to him, the financial system is still relying on several slow and cumbersome mechanisms to transfer money, so the blockchain would certainly be very important when it comes to upgrading this.

The banker affirmed that the tokens that were released so far, including Bitcoin, were simply unable to fill up the position of becoming a faster way to send money. Most cryptos, in his opinion, are extremely volatile, so they are not very attractive to everyday use or to become a real way to store value.

He also believes that these assets, if left to be the solution, can also bring many risks to financial stability, such as fragmentation and increased risks of fraud. Because of this, bankers should consider creating their own solutions.

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Author: Silvia A

New Crypto-Jacking Malware ‘Graboid’ Infects Thousands of Computers to Mine Monero (XMR)

Palo Alto Networks’ Unit 42 researchers discovered a new crypto-jacking malware that infected over 2000 victim’s computers.

The malware infects unsuspecting users’ computers to mine Monero (XMR), a privacy-based cryptocurrency. The crypto-jacking worm, named Graboid, spread using containers in the Docker Engine (Community Edition) to unsecured hosts’ computers.

Docker images spread the crypto-jacking malware

In a new intelligence report by the Unit 42 team, Graboid worm, targets Docker, a Linux and Windows based, platform as a service (PaaS) solution, which allows users to create, develop and deploy applications in a virtual environment.

The platform however is vulnerable to attacks from the newly found malware that on average mined XMR for 250 seconds with the miners active 63% of the time.

https://unit42.paloaltonetworks.com/wp-content/uploads/2019/10/Figure-1.-Cryptojacking-worm-activity-overview-1024x556.png

https://unit42.paloaltonetworks.com/wp-content/uploads/2019/10/Figure-1.-Cryptojacking-worm-activity-overview-1024x556.png

https://unit42.paloaltonetworks.com/wp-content/uploads/2019/10/Figure-1.-Cryptojacking-worm-activity-overview-1024x556.png

1Crypto-jacking malware, Graboid, activity overview. (Source: PaloAlto)

According to the report,

“The attacker compromised an unsecured Docker daemon, ran the malicious Docker container pulled from Docker Hub, downloaded a few scripts and a list of vulnerable hosts from C2 and repeatedly picked the next target to spread the worm.”

After identifying the 2,000+ cases of malicious activity on the Docker Engines (CE), Unit 42 partnered with Docker in a bid to stop the worm from spreading. Jay Chen, Unit 42’s Senior Cloud Vulnerability and Exploit Researcher, hopes tighter security protocols will be set on Docker images to reduce the instances of malware. He said,

“We’re continuing to see instances where the failure to properly configure containers can lead to the loss of sensitive information and as a result, default configurations can be significant security risks for organizations.”

Hike in crypto-jacking activities

In August, BEG reported over 850,000 computers were infected with another crypto-jacking software mining Monero on the users computers. Retadup Monero, was quickly stopped by Paris police officers after a tip off by Avast software security company.

On Oct.8, ESSET, a security firm, also discovered a new crypto-jacking software rampant in South and Latin America spreading on users’ computers. Casbaneiro, or Metamorfo, attacks users cryptocurrency wallets and banking services to reveal personal information.

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Author: Lujan Odera

CoinMarketCap Starts Posting Interest Rate Data on CryptoAssets with New ‘Interest by CMC’ Feature

The famous data provider CoinMarketCap has just launched a new section on its site, which was created to list the current interest rates that are being offered on some cryptocurrencies by lenders. This, the company believes, would help the prospective traders to compare prices and choose products better.

This new section is named ‘Interest’ and it was launched starting with 33 cryptocurrencies. Covering information on several major platforms that work with lending. They include Binance, BlockFi and the Celsius Network. By using the new page, users can find annualized interest rates on these platforms for several different kinds of cryptos.

According to CMC, the new listing was in development for about a month and a half. Carylyne Chan, the Chief Strategy Officer of the company, was interviewed by The Block Crypto and said that the team had done a lot of research before making the new section live to viewers. She said that the researchers looked up interest rates and futures prospects for the industry and more.

Chan affirmed that it is important for traders to know the full scope of the lending market in order to make an informed decision. According to her, the lending sector is worth over $5 billion USD right now and plenty of traders use it for margin trading, hedging, and other financial investments.

Another important point is that no fees are being charged by the lenders to be listed on the page. They were simply determined to be the most popular companies in the sector and this is why they were listed, not because they paid to.

All monetization efforts will eventually be made via ads, just as it happens with the rest of the site. This way, ads are much easier to detect and do not influence the main activity of the site.

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Author: Gabriel Machado

Charlie Lee, Winklevoss Twin Ring the Alarm Over Instagram Impersonation Schemes

For years, scammers impersonating renowned figures in the crypto spheres have been using Twitter for their scamming tricks but have now begun using Instagram as well. Charlie Lee, Litecoin founder, revealed that he has been dealing with an impersonator scamming innocent people of their crypto’s on Instagram.

In a tweet, Lee, expressed his frustrations with Instagram, claiming that the network has done nothing to deal with a fake account that has been impersonating him for a while and scamming them.  Lee stated that there could be other phony accounts and Instagram seems unconcerned about the alarms.

Lee explained that despite raising the issue several times with Instagram, that instead of the social network closing the fake accounts, it has done just the opposite. Lee stated that his own Instagram account has been banned for impersonation, rather than the fake account.

Lee is not the only crypto big shot suffering the same dilemma. In a response to Lee’s tweet, Gemini co-founder Cameron Winklevoss stated that he, also was being impersonated on Instagram as well. The one half of the Winklevoss brothers stated that there was a person/profile that was impersonating him and running a crypto scam on Instagram as well.

Cameron likewise expressed his frustrations saying that he had reported it, various friends and associates have also reported the issue but the fake account is still active. Winklevoss called Instagram for help stating; “help would be appreciated!”

Decrypt reports that Twitter has been awash with numerous scams and Lee is no stranger to such incidents. Early last year, the Litecoin founder was at the center of a phony contest in which his name was used for a contest of 180 LTC where participants were asked to donate 0.3 LTC upfront to an address that was given by the scammers.

Issues of fake accounts and scammers have also affected renowned personalities in other industries as well. One of them was Tesla founder Elon Musk where his name was used for various con jobs. Elon’s account was impersonated by scammers who stated that Elon was looking to offer some BTC in an upcoming contest,  but to participate one was supposed to donate some Ether tokens to a given address.

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Author: Joseph Kibe

EY (Ernst & Young) Releases New OpsChain Public Finance Manager Blockchain Tool

Ernst & Young (EY), one of the Big Four auditing firms, has recently launched a new blockchain-based product, a platform that was designed to enhance the transparency of the government. According to the reports, the new platform will be called OpsChain Public Finance Manager.

This system is set to enable transparent tracking of public finances and budgets so that all citizens can view it. The service can also be used to match how much money is being spent against outcomes, which can show how effective the policies are.

One of the main goals of this system is that governments will be able to make data-driven policy decisions with more efficiency. With the data gathered by the platform, they can understand the outcome of their decisions better and create better policies.

According to EY’s official statement, blockchain technology can be important when impacting public spending. This way, public managers can focus on what they need and enhance their work by making it more transparent and accountable.

EY is already testing the product in some cities. One of them is Toronto, Canada. The system allows financial transfers between different sectors of the government and the company claims that its experiments were important to increase the transparency of the city.

Heather Taylor, the chief financial officer of Toronto, affirmed that the official os the city is constantly striving to find better technologies to meet the needs of the residents and to help them more effectively.

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Author: Gabriel Machado

Celsius Network Crypto Mobile App Partners with Trust Token; Adds 4 New Stablecoins

Celsius Network, a blockchain based marketplace for crypto financial products, announced its partnership with Trust Token, a stable coin company, to offer high interest incomes on five new stable coins.

The press release on Oct. 16 confirms the addition of Trust Token’s stable coins including: True US Dollar (TUSD), True Hong Kong Dollar (THKD), True Canadian Dollar (TCAD), True British Pound (TGBP) and True Australian Dollar (TAUD).

Up to 10% APR on crypto investments

Following the partnership with Trust Token, Celsius Network expands its asset base to ten stable coins including Paxos’ PAX, Coinbase’s USDC and Maker’s DAI.

The platform will offer investors an annual percentage rate of 10% on their investments on any stable coin. The high interest rate is earned from the deposits and loan services offered – 80% of the interest distributed to the investors.

The CEO of Celsius Network, Alex Mashinsky, praised the partnership with Trust Token highlighting the importance of stable coins on the platform. He explained,

“Stable coins built on the blockchain allow us to move dollars in the form of digital tokens over the internet, and that enables us to earn more for our borrowers from all over the world.”

Celsius Network’s current rate of interest on deposits beats the normal 1-3% traditional banks offer their customers. Alex added,

“By offering high interest income on stable coins, Celsius enables anyone around the world to earn 10x more on their dollars than they ever could at a traditional bank.”

Low interest collateral backed loans

Furthermore, the platform will open up loan services for its customer base offering low rates of up to 3.5% APR.

The customers can apply for a loan using their digital assets as collateral while earning interest on their deposits. The company saw a 20X increase in deposits through its mobile application in August as users took advantage of the low loan rates and high APR on their deposits.

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Author: Lujan Odera

Binance US Adds Privacy-Centric Coin Dash Including US Dollar Trading Pair

On Wednesday, the US branch of Binance crypto exchange announced it has listed privacy-centric cryptocurrency Dash in its platform, Finance Magnates reports.

The exchange which was started last month offering crypto-fiat services announced it will offer trading services for Dash against three forms of currencies comprising of Bitcoin, USDT as well as USD. the addition of Dash now means that the platform now lists 15 cryptos.

Notably, the crypto exchange listed Dash/USD trading pair which means that traders can buy Dash using fiat USD instead of having to buy a different crypto like BTC then buying Dash. The exchange stated that while customers will be able to buy Dash immediately using USD, deposited funds will be held for 10 days before they can be withdrawn.

The listing by Binance US is a major boost for the Dash community. Although the global version of Binance supports Dash there were concerns on whether the US branch with its own regulatory framework would support the privacy-centric crypto.

The addition is also important given that various crypto exchanges have in the recent past delisted Dash due to concerns about the utilization of the privacy-centric cryptocurrency. Previously, OKEx Korea announced delisting of the crypto but rescinded its decision saying that its reviewing Dash’s compliance with the requisite legal requirements.

In the recent past, Dash has made tremendous progress when it comes to being listed in major crypto exchanges. At the start of this month the cryptocurrency was listed in BitMart as well as Bibox. Similarly, Binance’s major domestic competitor Coinbase also added Dash to its offering last month.

The announcement by Binance US stated that the crypto exchange will continue its pursuit to offer access and trading among different digital assets and the exchange is continuously evaluating several coins, tokens as well as trading pairs that can be offered on its platform. In order to attract clients in its new market, Binance is providing various promotional offers to US clients comprising exemption of trading fees until Nov. 1.

The addition of Dash/USD trading pair was hailed by Dash as it will help in reduction in dependence on Bitcoin for trading purposes.

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Author: Joseph Kibe