Central Bank Of China Is Ready To Launch Cryptocurrency With The Help Of Few Institutions!

According to Forbes, China’s central bank is ready to launch a state-backed cryptocurrency and hand it out to several major institutions in the country.

Some of the Institutions are Commercial Bank of China, Alibaba and Tencent to help distribute the cryptocurrency into the country’s economy.

According to Forbes‘ sources, the plan is to launch the digital currency as soon as Singles Day on November 11, China’s busiest shopping day.

China’s central bank is hoping to eventually spread the currency to the West through participating banks — but it’s unclear if and when that will occur.

First Ever Sim Card With Crypto Facilities.

Cryptocurrency and telecommunications company Telx Technologies announced the launch of the first crypto SIM card wallet that enables transactions via SMS.

On Aug. 22, The company published a post explaining how this will work, the card allows its users to send cryptocurrencies via SMS with their dedicated crypto phone number. The thing to note here is, these transactions do not require a smartphone or an active Internet connection. On the other hand, the system also offers no control over a user’s crypto wallet.

Telx also mentioned this in its announcement: “At Telx our goal is to make transacting digital currency as easy and accessible as possible. This means creating solutions that technical and non technical people alike can adopt. We believe there is tremendous synergy between payments and messaging.”

According to the post, the crypto SIM card is available in over 180 countries, allows unlimited SMS messaging and supports Bitcoin (BTC), Litecoin (LTC), DASH, Zcash (ZEC) and Bitcoin Cash (BCH). To execute a crypto transaction via this service, its user can send an SMS to any phone number.

The company promises to prevent SIM swapping and phone number porting, to accept transactions originating only from the proper SIM card, to protect the wallet with a dedicated PIN number and to provide backup keys in case of a theft or loss.

Rival To Facebook’s Libra Is Ready!

Binance recently revealed it’s open blockchain project “Venus” focused on developing localized stablecoins worldwide.

In an announcement on Aug 19, Binance argues it is well-positioned to launch such a currency ecosystem in light of its existing public chain technology, Binance Chain, wide user base and already established global compliance measures.

Binance is looking out for partnerships with governments, corporations, technology firms, and other cryptocurrency and blockchain projects in order to develop a new currency ecosystem that will empower both developed and developing countries.

As per the report, Binance’s vision for the project, is to “build a new open alliance and sustainable community” that enlists partners who wield influence on a global scale.

With its choice of name, “Venus,” Binance is also stepping into the astrological waters of both Facebook’s Libra project and the Winklevoss Twins’ Gemini exchange and Gemini dollar.

Bitcoin Is Legal And Taxable In New Zealand!

While Donald Trump is busy bashing Bitcoin, New Zealand’s tax authorities have ruled that income in cryptocurrencies is legal and provided guidance on how exactly it should be taxed.

In a tax information bulletin published on July 4, the New Zealand Inland Revenue Department summarized the provisions of the public ruling, made under s 91D of the country’s Tax Administration Act 1994.

This doesn’t applies to self-employed taxpayers, it only applies to salary and wage earners, covering both remuneration for services and bonuses, commissions and gratuities.

“In the current environment where crypto-assets are not readily accepted as payment for goods and services, the Commissioner’s view is that crypto-assets that cannot be converted directly into fiat currency on an exchange are not sufficiently ‘money like’ to be considered salary or wages.”

As reported, tax authorities and lawmakers globally are increasingly turning their attention to cryptocurrencies. Last week, crypto industry sources claimed that the United Kingdom’s tax authority was allegedly requesting that digital currency exchanges provide it with information about customers’ names and transactions aiming to identify cases of tax evasion.

Bitcoin Miners Income Is Impressively Higher Than BSV & BCH!

Bitcoin miners earned up to four times the revenue accrued by their counterparts on the Bitcoin SV and Bitcoin Cash networks combined in one day!

Bitcoin miners earned $540,000 in transaction fees. This figure is more than four times the $130,000 earned by miners on the BSV and BCH chains combined over the past 12 months, According to August 2, 2019 tweet from “Shakepay.”

BCH miners see under $200 in transaction fees per day and Bitcoin regularly posts $500,000 in transaction fees alone on a daily basis. BSV miners were still running at a loss, five months after the chain split, Back in April 2019.

The top-ranked crypto is still some way off from the likes of Visa in terms of the daily transaction load. Thus, for BCH and BSV, the distance to the pinnacle of global payments appears even more insurmountable.

Online Electronics & Software Retail Giant Newegg Expands Bitcoin Payments To Another 73 Nations.

This is a very good news for bitcoin traders and crypto investors! Tech Retailer Newegg Expands Bitcoin Payments to Another 73 Nations.

They made an announcement this Wednesday regarding their expansion of Bitcoin payment. They stated it will accept bitcoin in 73 additional of its country-specific stores. The news means that the cryptocurrency can be used to pay for purchases in nearly all of its 80 served nations.

They have started acception Bitcoin in 2014, soon after expanding the option to Canada.

Anthony Chow, Newegg President Global Sales said, “Five years ago, we were one of the first major online shopping destinations to accept Bitcoin, and our early-adopter customers were quick to embrace this new payment option.”

The bitcoin payments are made possible through Newegg’s partnership with blockchain payments provider BitPay.

Sonny Singh, chief commercial officer at BitPay, said in the announcement:

Bitcoin allows users to send and receive money just as easy as sending an email, opening up opportunities for businesses and consumers globally as a secure, low-cost transactional option for the merchants. Newegg was among the first companies to see this opportunity and has continued to expand its Bitcoin acceptance to nearly all of its customers around the world.”

First Ever Browser For IOS With Web 3 Support And Crypto Wallet Launched By Opera.

Starting today The blockchain ready Opera Touch browser for iOS is available for download. This follows Opera’s addition of Crypto Wallet support on Android and PC, that means Opera is now Web 3 ready across all major platforms.

“I am happy to let you know that the award-winning Opera Touch browser for iOS now features crypto wallet integration and Web 3 support. This completes our efforts to offer Web 3-ready browsers with built-in Crypto Wallet on Android, Windows, Mac, Linux and now iOS. Opera Touch for iOS lets you seamlessly interact with the next generation of Web 3 applications on the Ethereum blockchain.”

Opera has won couple of awards the Red Dot Design Award and Gold IF Design Award. Opera Touch is an innovative web browser which is used by millions.

Opera supports all ERC-20 tokens, stablecoins and non-fungible tokens (NFT). Ethereum is a popular and quickly growing protocol that allows people to make transactions and enables developers to create decentralized apps (dApps) which provide practical use for this technology.

Opera Touch for iOS with Crypto Wallet, like the Opera browser for Android, supports the Ethereum Web3 API, making interacting with dApps seamless, without the need for browser extensions.

This is how you can buy Bitcoin on Binance

If you wish to buy Bitcoin on Binance, then you’ll need to create an account on Binance. Binance is the most famous Cryptocurrency in the world and widely used, because of it’s extensive selection of Altcoins, which continues to grow with frequent additions. You can withdraw 2 BTC per day without any verification, it’s also supports mobile app for both iOS and Android devices.


You can get started by purchasing some BTC on Binance with a credit or debit card if you don’t own any Cryptocurrency yet.


The most convenient cryptocurrency to deposit if you want to purchase Bitcoin (BTC) is Ethereum. Once your purchase is complete, you can also use the Bitcoin you bought for trading with a big selection of other coins.
Now if you want to make a deposit, head to the navigation bar at the top, click Funds – Deposits. Search for ETH for Ethereum and select it. The website will provide you with a deposit address for the cryptocurrency you selected. The address will be alpha numeric and all lowercase. Copy the address and go to your wallet of choice. Send the amount you wish to deposit to the address you copied. The process won’t be instant, it will take upto an hour for the funds to show up on your Binance account.


If you wish to check your balance, go to Funds – Balances in the navigation bar at the top of the website. Now Exchange – Basic, if you want to place an order. Let’s assume you’ve deposited Ethereum, On the top right corner, select BTC and search for ETH, which is the ticker for Ethereum. The ETH/BTC trading pair should appear.


You can only buy BTC by placing a sell order for ETH. In this case, you will be selling your ETH for obtaining BTC.
That’s how you buy Bitcoin on Binance.

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ETH Gets Direct Support by Abra, the Digital Currency Wallet.

Digital currency wallet and exchange Abra has launched native Ethereum (ETH) support. Easier for users to receive, hold, sell and buy ETH directly from the Abra wallet, as well as use the Altcoin as an on-ramp to invest in other Abra-listed crypto and fiat currencies up to over 30 crypto assets and 50 fiat currencies.


As the Abra blog post outlines, up until now, Abra had only supported Ethereum as a so-called “synthetic asset” as an investment mechanism that creates crypto-collateralize contracts so that users could gain exposure to the Altcoin’s price movements, but not hold the coin itself.


CEO of Abra, Bill Barhydt has given a short statement, noting that Ethereum support “sets the stage for Abra to launch native ERC-20 support, in particular a whole bunch of [ERC20-based] stable-coins, that we’re excited about.”


He also said that he believes that private or permissioned, blockchain networks will eventually “fail miserably,” in comparison with the now-defunct concept of the private extra-net from the 1990’s, that restricted access to an authorized set of users.

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MyEtherWallet to launch Ethereum Blockchain Explorer

Major Ethereum (ETH) wallet provider MyEtherWallet (MEW) has announced the launch of the alpha version of its new open source Ethereum blockchain explorer on their Twitter account.


The current version of EthVM shows data from the Ropsten network, an Ethereum testnet. Once arranged on Ethereum’s main network (mainnet), EthVM will be rival Etherscan, the current top Ethereum block explorer.


In the tweet announcing the news, MEW asked users to report their criticism on the tool, stating:
“Keep in mind that it’s still in Alpha – please report any issues and suggestions, and help us improve the platform!”


As users of Cryptocurrency wallets MEW and Electrum are currently facing phishing attacks.


Analyzing the Ethereum chain, recent research showed that over 80 percent of the total circulating supply of Ethereum is held by 7,572 addresses. It also claimed that the price of ETH has dropped an average of 19 percent after each of the past five hard forks, over the following 30 days.

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