60 Latin American Banks To Start Using Bitcoin For Cross-Border Payments via Bitex Crypto Exchange

Bantotal, a banking service based in Uruguay with over 60 banking clients, has recently started a partnership with Bitex, a crypto exchange. With this partnership, the bank will help banking institutions to make cross-border payments using the Bitcoin network.

According to Bitex’s CMO Manuel Beaudroit, the integration will be a major step for banking in the region and will help to connect these institutions in a way that is more efficient than traditional methods such as SWIFT.

With this new tech, the banks will be able to access Bitex’s API and transmit money quickly to banks in the region. According to the company, these payments are five times cheaper and much faster than other methods. Before now, payments can take up to 96 hours, Bitex cuts that time in more than half.

Bitex is basically the middleman of the transactions. The banks route the payments via the company and do not have to worry about most of the specifics. This can also be interesting for banking companies because they no longer need to acquire foreign fiat currency. They can just use Bitcoin instead.

This initiative is seen by local investors as a great way to expose the market to the benefits of the blockchain. While Europe, the U. S. and Asia are already using the technology extensively, some countries are still behind the times and this solution can help to modernize their business model.

According to Santiago Siri, an expert in digital governance who works as an advisor to Bitex, using Bitcoin to be connected internationally is still not something common in Latin America, but with initiatives such as this one, it may well be in the future.

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Author: Lorraine Mburu

Impulse K1 Smartphone: Safe to Use Blockchain Phone by Karat Gold?

Impulse K1 Smartphone

Wht Is Impulse K1 Smartphone?

Impulse K1 Smartphone is the first Smartphone with Voice Over Blockchain Protocol (VOBP), a technology that enables users to communicate fully encrypted all information including text, voice, media, and documents. With this phone, users can send all information peer-to-peer and end-to-end encrypted. This, in the end, eliminates third party companies and servers.

Impulse K1 Smartphone Key Features

Matrix ID for Infinite Accounts

Every user can create an infinite number of crypto accounts, with each wallet assigned one identity.

IPFS Storage

The Interplanetary file storage (IPFS) enables users to store in an encrypted manner, all sorts of information such as media, photos, and documents. The IPFS platform offers peer-to-peer decentralized file storage, where the files are always available to access.

Electronic Warfare Transmitted Location (EWTL)

The location service is meant to protect users’ privacy by using special military technology to share and reveal the location. Everything transmitted is fully encrypted and revealed clearly to the user you want.

Worm Guard

The device comes with a secured key protected against unwanted access. This technology creates a protective shield around your private key to secure it against lost key or unwanted access. This security option, when enabled, can encrypt all devices that try to access it.

Voice Over Blockchain Protocol

This option enables users to retrieve information in case of a lost phone or key. Since all the information is stored on the blockchain, users can easily retrieve it.

Impulse K1 Smartphone Models

The phone is available in the following Models:

Black Carbon:

This device is available in a shadow design, modern fiber look and feel, breaking the rules of what is possible.

  • Dimensions: 157 x 74 x 8.5 (mm)
  • Material: Black Carbon Fiber
  • Availability: Pre-Order

Gold Transparent:

This luxury and style model comes with an innovative groundbreaking design for users with a taste of elegance.

  • Dimensions: 157 x 74 x 8.5 (mm)
  • Material: Golden Aluminum and Glass
  • Availability: Pre-Order

Pixel Army:

This model embraces stealthiness, available for every location and situation, next-level disguise.

  • Dimensions: 157 x 74 x 8.5 (mm)
  • Material: Carbon Fiber and Kevlar Texture
  • Availability: Pre-Order

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Author: Bitcoin Exchange Guide News Team

Gemini’s GUSD Stablecoin Dollar Token Is Dropping In Value Quite Rapidly… What’s Going On?

Geminis-GUSD-Stablecoin-Dollar-Token-is-Dropping-in-Value-Quite-Rapidly-Whats-Going-On
  • Gemini’s market capitalization has dipped quite heavily over the past 7 months (>92% to be exact).
  • Tyler and Cameron Winklevoss have applied for a license that will potentially allow Gemini to trade securities as well as other novel financial offerings.

According to data available on Coinmarketcap (CMC), the demand of GUSD (Gemini Dollar) has been dropping drastically over the course of the past 7 months or so. Not only that, it is also worth highlighting that while other fiat pegged-altcoins are doing quite well (from a monetary standpoint), GUSD is one of the few stablecoins whose value is in a sort of a freefall.

To elaborate further on the matter, we can see that the total market capitalization of GUSD has slipped from its all-time high value of $103.106 million to a meager $7.981 million over the course of the past 7 months — thereby indicating a total value drop of more than 92.20%. For additional perspective, we can see that over the same time period, Bitcoin’s price has soared by over 230% (from $3,100 to $10,300).

Lastly, it bears mentioning that when compared to GUSD, other stablecoin offerings such as Paxos, Circle’s USDC have all been performing relatively well.

Other Key Points Worth Highlighting

Data obtained from CoinGecko shows that Gemini — the crypto trading platform owned and operated by the Winklevoss Twins — is currently witnessing around $60.275 million worth of daily tx volume. This number when compared with associated figures from Coinbase Pro are quite low — especially when considering that the premier exchange facilitates daily trades of more than $602 million.

According to some experts, Gemini’s native crypto offering could be sliding because the demand for dollar-pegged entities in general seems to be reducing across the globe. Similarly, many people have also argued that GUSD’s market visibility when compared to USDT, USDC is quite poor.

[Author Alert] The author’s opinions above are solely based on their own self-conducted research. Assume any and all authors are using, holding, trading and/or buying cryptoassets mentioned as a portion of his or her financial portfolio. Use information at your own risk, do you own research, never invest more than you are willing to lose.

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Author: Shiraz J

Crypto Community Donates Over 200 Books on Bitcoin in a Single Day to Educate Congress

Crypto Community Donates Over 200 Books on Bitcoin in a Single Day to Educate Congress
  • #BitcoinForCongress campaign is in full effect as in just over 24 hours 200 books on Bitcoin has made their way to the members of congress
  • The goal is to reach all 535 US legislators and educate them about Bitcoin

As part of ‘Bitcoin For Congress’ campaign, the crypto community has donated more than 200 books on Bitcoin to the Congress in just over 24 hours.

This campaign was started by enthusiast and the author of the children’s book “Bitcoin Money: A Tale of Bitville Discovering Good Money,” that goes by the moniker, The Bitcoin Rabbi on Twitter. His goal is to reach all 535 US legislators and educate them on the concept of Bitcoin.

On July 18, he took to Twitter to announce this campaign called ‘Bitcoin For Congress’ after the congressional hearings on Facebook Libra that extended to the cryptocurrency market.

#BitcoinForCongress

This week, US lawmakers grilled Facebook on its cryptocurrency project. Last week, Bitcoin took center stage when first the Fed Chairman Jerome Powell compared Bitcoin with gold calling it a store of value.

However, soon after the US President Donald Trump and Treasury Secretary chimed in but the remarks weren’t as good as Powell’s, at least until you analyze it deeply like the cryptocurrency community.

While Trump tweeted that he is not a fan of Bitcoin and cryptos, adding that Bitcoin is not money, is highly volatile and based on thin air, U.S. Treasury Secretary Steven Mnuchin said they are a “national security issue.” Both are concerned about cryptos use in

“illicit activities like cyber crime, tax evasion, extortion, ransomware, illicit drugs, and human trafficking.”

“It is clear that the lawmakers in Washington need a lot more education about Bitcoin,” wrote The Bitcoin Rabbi.

Let’s Educate the Congress

Per this campaign, to participate, you have to pay $8 and The Bitcoin Rabbi will send a copy of “Bitcoin Money” to any congress member your choice on your behalf. The book will also involve a “respectful letter” to help explain Bitcoin. You can also order multiple books for multiple representatives.

As for why the children’s book, he says there are already great books and educators that have a “powerful effect” in DC, but they need a basic

“children’s level understanding of Bitcoin.”

“Lets flood Congress with Bitcoin education, one book at a time,” he added.

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Author: AnTy

New Studio Blockchain Accelerator by IDEO Gets Amazon, Fidelity, Deloitte and Messari Backing

New Studio Blockchain Accelerator by IDEO Gets Amazon, Fidelity, Deloitte and Messari Backing

IDEO CoLab has started an important partnership with over 20 companies in order to launch a blockchain accelerator startup. IDEO CoLab, which is a subsidiary of IDEO, has found companies such as Fidelity, Amazon, Deloitte, Messari, the Ethereum Foundation and the Stellar Foundation as important partners in this enterprise.

The accelerator will be called Startup Studio and it will have each of the current partners hosting their own accelerator programs in order to fund the development of new blockchain technology.

Ian Lee, the managing director of the company, has affirmed that these companies will provide smaller ones with all the tools that they need in order to start their own development. The idea is to finance initiatives that are aimed to give more control and ownership to the users over their own lives.

The blockchain currently promises to do it, however, it fails most of the time because most of the current programs are not really that useful for the average person, so the focus will be in creating programs that will be. By making these advancements on the technology, the CEO believes that opportunities of billions or even trillions of dollars can be found.

Each of the partners will be important because they will offer specific values to the accelerated companies. Amazon, for example, can help by providing resources that let the users determine how to build and deploy services using its Amazon Web Service platform. Deloitte, for instance, can help with accounting, taxes and structuring.

According to Lee, the idea is to create an accelerator that will work differently from the other companies in the market right now. Unlike the others, they will have quick workshops which are created in a way that the teams can learn fast what they need to do and go home to work. None of the workshops will have any cost, but they are only available to the participating companies.

The project will have residencies, too, which will range from three to six months and will see the teams accompanies by at least 20 people that will help them to create the best business possible.

IDEO is looking to create a sustainable model for blockchain development. The company is aware of the difficulties that people in this area often face and is ready to help them.

The company was created back in 2012 and it has partnerships with several large companies. Since then, it has been working in the technology field and collaborated with the development of several companies, as well as invested in 9 startups during this timeframe. The list includes popular ones such as Augur, Zcash, Grin and others.

Also, the company is interested in investing in around 12 new blockchain firms per year. This will increase the current portfolio quite fast.

So far, the CEO affirms that they found a sustainable way to support the startups when they need it the most and he believes that they will continue to follow this approach as time passes, which is set to deepen the relationship between them and these early companies.

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Author: Gabriel Machado

Is Ethereum (ETH) Eyeing a Bear Market in Comparison to What’s in Store for Bitcoin’s Near Future?

Is Ethereum (ETH) Eyeing a Bear Market in Comparison to What's in Store for Bitcoin's Near Future?
  • While Ether’s value has remained fairly stable over the past couple of months, it does not look as though the world’s second largest cryptocurrency (by total market capitalization) is going to witness a bull run anytime in the near future.
  • Ethereum’s technical indicators are currently showcasing the formation of a ‘candle pattern’ — which indicates that a price drop may be incoming for the altcoin.

While the price of Bitcoin continues to surge, it appears as though a number of other premier altcoins are struggling to maintain their bullish momentum. For example, as per a recent study released by popular cryptoanalyst, Josh Rager, Ethereum is currently close to breaking its 3-year support line and will most likely continue to lose value in the coming few months.

This advice seems quite contradictory because the general consensus amongst the global crypto community is that ‘as long as BTC continues to do well, so will the rest of the market”.

In regards to this development, Rager recently sent out the following Tweet:

“Candle body is making a new low for Ethereum as long as Bitcoin continues its Dominance % this will not go well for ETH or most alts. Bitcoin should be the focus at the moment”.

More on the Matter

As things stand, Ethereum is trading around the $288 mark. However, over the course of the last 30 days or so, the currency has seen its value surge to an impressive $330 — only to stoop down to the $265 mark once again. In this regard, a number of commentators have been claiming that a lot of altcoin holders are now dumping their assets in favour of BTC.

Ether’s recent trend chart seems to suggest that the currency may once again be on its way down.

Recently, when BTC stooped below the 11k mark, Tron’s native crypto offering, TRX, witnessed a massive drop in its trade price — thereby, sending the value of the premier cryptocoin down by a whopping 5% or approx. $2 billion within a period of just 24 hours.

During the aforementioned time period, Ether’s value also dropped by around 4.5%.

In closing out this piece, it should be highlighted that a number of crypto proponents are now of the belief that as BTC continues to rally, other altcoins will lose a lot of their market capitalization. It now remains to be seen whether this prediction comes true or not.

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Author: Shiraz J

Why is Monero (XMR) Performing so Badly?

Why is Monero (XMR) Performing so Badly?
  • XMR down over 37% against BTC
  • While up 111% against the USD, still down 80% from its ATH
  • Is Monero an exclusive case? Scary flaw in play?
  • Monero is having quite a month.

First, XMR price went from about $80 in early June to $120 on June 24th, surging 50 percent in about 15 days.

However, as Bitcoin made a pullback, XMR dropped as well just like the rest of the market and tumbled down to right where we started that is at $80.

Today, however, Monero is back on the move as we climbed from $85 from yesterday to today’s highest point at the time of writing $98.4.

Currently, XMR is trading at $96.9 with 24 hours gains of almost 10 percent. The 13th largest cryptocurrency with a market cap of $1.64 billion, meanwhile, is managing the daily trading volume of $15 million, on 10 exchanges with real volume.

XMR price up over 111% till date in 2019 but still down 80% from its ATH Source: TradingView

XMR Down 37% against BTC, Scary Monero Flaw at Play?

On Monero’s deep drop, Adamant Capital’s Tuur Deemester questioned on Twitter on June 5th, “Wondering why Monero / XMR is performing so badly. Any ideas? (I don’t own it).”

This got a lot of response from the community, many citing the vulnerability found in the code as the reason.

Recently, privacy-focused cryptocurrency disclosed nine security vulnerabilities, including one that would have allowed hackers to steal XMR from crypto exchanges.

Rogue Monero miners were hypothetically able to create blocks that were “specifically-created” to force Monero wallets to accept fake deposits by the attacker. This, security researchers in their HackerOne report said could be “exploited to steal money from exchanges.”

Developers also disclosed five DoS attack vectors – including one labeled “critical.”

Monero is not an Exclusive Case

XMR is down over 37% against BTC but it is worth noting that Monero is not the only coin behaving this way, majority of the altcoins are waiting for alt-season to no avail.

XMR/BTC

Top coins are actually down 20 to 70 percent against BTC.

“Most alts look identical to this so it’s not much of an outlier, most are doing poorly,” responded trader Moon Overlord while veteran trader Peter Brandt commented, “The future of alts????”

Since April, when Bitcoin first started pumping, we have witnessed altcoins performing terribly against Bitcoin with only a few exceptions.

Needs More Steps to Protect Privacy

Meanwhile, at MoneroKon 2019, Dr. Brandon Goodell that also goes by Surae Noether, a member of the Monero Research Labs critiqued the privacy in crypto space that includes Monero.

He said, on a scale of 0 to 10, where 10 is completely transparent like Bitcoin or Ethereum, most cryptocurrencies are at a 0. As for Monero and Zcash, he said, they are “used fresh out of the box” and are at 1.

“To improve, users of these coins have to take additional steps to protect their privacy,” said Goodell.

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Author: AnTy

Genesis Global Trading Onboards Four New Execs For Expansion into Europe

Genesis Global Trading Onboards Four New Execs For Expansion into Europe

An institutional over the counter (OTC) cryptocurrency trading platform called Genesis Global Trading is set to expand into Europe. The Block Crypto has recently reported that the company hired four new executives in order to be a part of this expansion.

The company, which is also engaged in lending, has decided to hire Arianna Pretto-Sakmann (general counsel), Leon Marshall (new head of European business), Dan Torrey (head of institutional sales) and Pat DeFrancesco (Chief Technology Officer) recently.

Michael Moro, the CEO of the company, was interviewed by The Block Crypto and he affirmed that some of these people were important in order to create the strategy to move to this new market.

Pretto-Sakmann, for instance, was hired back in May. Her job was to advise the company on the best decisions to move its business to Europe and determine how to deal with the EU General Data Protection Regulation as well as some other local laws.

Her expertise in working as an attorney before being hired was important to the CEO, as she used to advise several types of financial institutions such as banks, broker-dealers and clearing houses, for instance.

While the company always had some European clients, according to Moro, it was never really dedicated to working in the region specifically since the launch of the company back in 2013. Marshal will be the one that will oversee the expansion into the new territory personally.

In fact, there is so much activity back in Asia that the company is also considering moving on there, too. According to the CEO, the retail activity in the area is pretty big and there is a lot of trading happening in Asia, so while the current focus is Europe, it is not hard to see how they could focus there soon.

Another executive, Torrey, joined the company in order to work on the lending and trading platform. He was the global head of forex e-commerce sales on Northern Trust before he started to be in this new company.

DeFrancesco will support the technology and the quantitative research of the company during the expansion. However, Moro was not very clear on what exactly the company is building at the moment, but it seems fair to say that the company is trying to create a platform that will make trading easier.

The CEO also hinted that there was some sort of streamlining process happening in the lending platform so that the users would not need to call the company or email it in order to use it.

At the moment, Genesis has 25 employees and it is expected to keep hiring people until it has 35 employees. Last year, the company had only 15, so it is obvious that Genesis is growing a lot lately and that the trend is set to continue.

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Author: Gabriel Machado

VeChain Foundation to Buy Back $25 Million Worth of VET Tokens

VeChain Foundation to Buy Back $25 Million Worth of VET Tokens
  • VET surges over 4% on the back of buyback plan
  • After Tron and Bitfinex’s LEO, VeChain is the latest one to announce the buyback plan

VeChain Foundation took to Twitter to share the exciting and bullish news with the community that involves a buyback plan.

Per this announcement, Sunny Lu, the CEO of VeChain, during the AMA marathon, announced that the VeChain Foundation Steering Committee has decided to conduct a VET buyback plan of up to $25 million USD over the course of the next twelve months.

This buy back plan reportedly will be used to incentivize the ecosystem builders for long term success.

VeChain is the 28th largest cryptocurrency with a market capitalization of $463 billion. Its token VET is currently trading at $0.0083 with 24 hours gains of 4.48 percent, at the time of writing.

The community is excited about this news as is VET which is among the few cryptocurrencies that are in the green as top digital currencies are down 3 to 8 percent. It is also the only coin among the top 35 that is green by over 4 percent.

VeChain, however, is not the only one to come up with the buy back plan. Earlier this week, Tron Foundation announced a $20 million buyback plan that is part of its initiative to boost community activity and market stability. The official announcement reported it to be the largest Tron buyback plan so far and on January 1, 2020, it will reveal its TRX holding.

This month itself, crypto exchange Bitfinex announced a transparency initiative to provide a full view of the buyback and burning of its LEO exchange token. Binance, the largest cryptocurrency exchange already had a buyback and burn plan for its native digital currency Binance Coin (BNB).

This buyback plan followed the big news of Walmart China joining Vechain and PwC for its new blockchain traceability program.

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Author: AnTy

Bitcoin’s Roller Coaster Week: Ebbing and Flowing With Futures Expiry

Bitcoin's Roller Coaster Week: Ebbing and Flowing With Futures Expiry

Bitcoin has been on an interesting and energetic journey over the last couple of weeks. Having seen values soar by more than $2,000 as of Wednesday, pushing it beyond $11,500 to a staggering $14,000 with a record breaking volume of more than $44 billion dollars

While it enjoyed a brilliant rally, it also endured a similar kind of reversal in as many days starting off last night by European time, receding back to around $11,800 on Thursday.

What we can see from some of the above candlestick charts, especially from the large green candle alongside the equally substantial red candle, with Bitcoin managing to scrape at the incredibly rare $14,000 marker.

While this was more than a welcome surprise for  investors, this price point was an unfortunately shaky one, with a range of fast movements and a general ‘feeling’ of great heights from the market. As a result, a price correction was expected to be around the corner.

The moment that it manages to reach the $14,000 marker is also the time when we would all expect there to be a steady retreat away from it as BTC adjusts to newer heights. As it all looks pretty standard for the most part.

While this is the way the cookie crumbled for the Bitcoin market of 2017, the past is no clear indication of what the future holds for crypto. We have a pretty extensive lesson to take from the meteoric surge that Bitcoin underwent during 2017.

Back during that time in 2017, when Bitcoin successfully managed to push upwards from around $9,000 to around $12,000 all before staggering back down to about $9,000, with it managing to climb further up from thereafter.

In contrast, Bitcoin, while managing to do the same here, but at higher points of $14,000 and higher still before it reaches resistance levels at around $17,000.

Were it to have climbed up even further without any kind of correction then perhaps there may have been a more substantial reason for investors to feel concerned about the ongoing reversal, but the current dip that Bitcoin is experiencing is actually pretty healthy all things considered.

This is substantiated by the fact that CME Bitcoin futures officially close tomorrow, not before clocking in a truly amazing 132,455 Bitcoin representative contracts being exchanged over the course of yesterday along – totaling an incredible 1.5 billion dollars.

CME’s Bitcoin Futures contracts have been at a pretty strong premium and continue to operate at the same level during the time this is published, with a longer premium rate placed on contracts for September as well, some of which are being priced at more than $600.

So what does this mean for Wall Street overall? Ultimately, its overall performance is basically in the green, but there is to be some loss expected with this as yet healthy performance.

While this is the case, there has been some noticeable one off market selling over the course of Wednesday evening. As a result of this news, it may be the case that Wall Street was responsible for the dip, while the June contract comes to a close on Friday.

This isn’t so much of a surprise for more experienced investors, however, the dipping pattern ahead of the expiry of futures contracts has been happening with a degree of regularity over the past 3 months, almost like clockwork, with CME’s futures design facilitating this trend.

While this may not essentially be something that is wholly unique to Wall Street, but with what we have previously seen with the likes of OKCoin, which had been regarded as one of the popular settled futures related to Bitcoin – this too had created a similar kind of ebb and flow pattern.

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Author: James Fox