Digital assets in the cryptocurrency market are maintaining a bullish momentum and trend for the second day in a row. Although there were setbacks over the weekend as prices retreated from Fridays highs, this weeks potential and recovery optimism remain high.

According to the data provided by CoinMarketCap, the recovery across the board has seen the total market cap grow by $22 billion from $163 billion recorded on Monday to $185 billion at the time of writing. The trading volume has also grown significantly from $131 billion to $162 in the same period. Bitcoins dominance has also grown by 0.7% from 65% as reported on Monday to 65.7%.

While Bitcoin is in the green with gains more than 3%, it is not the best performing cryptocurrency. Monero(XMR) is leading the recovery in the market with over 15% in gains followed closely by Dash (DASH) with gains more than 12%. Ethereum Classic (ETC) and Ripple (XRP) are not very far behind due to their 7.7% and 7.39% respective growth on the day.

BTC/USD is trading at $6,744 after touching $6,861 (intraday high). Bulls are largely in control but the sellers are keen to ensure that Bitcoin does not break above $7,000. If the critical resistance at $7,000 is overcome, I expect a technical breakout with gains eyeing $8,000.

DASH/USD is trading at $70.27 after adjusting lower from an intraday high of $71.57. The prevailing trend is strongly bullish. At the same time, the bullish momentum is supported by the expanding volatility and volume. In other words, Dash price is likely to soar especially if the rest of the market is moving higher.

XMR/USD remains at the helm of the crypto market recovery on Tuesday. It is trading at $44.10 after correcting from $44.4 (intraday high). The bulls are in the driver seat owing to the strong bullish momentum and a sustained uptrend. Stability is expected in the coming sessions but bulls will most certainly push for more action above $50.

Continued here:
Cryptocurrency Market Update: Dash and Monero edge above Bitcoin to lead a remarkable recovery - FXStreet

I'm not super great with money and investments, but I know enough to be nervous right now. It seems like everything is going down: stocks, bonds, you name it. I don't have a ton of money (I spent my last summer interning for a New York law firm, but it didn't pay much), but I do want to make sure that I make the most of my money.

What I've heard is that the best recession-proof investments are precious metals, gems, and cryptocurrency. Is this true? Am I better off putting my money in crypto than in stocks right now?

This certainly is an uncertain time. The market has taken multiple sharp plunges in recent weeks, and that has some investors running scared. We face an uncertain future in the United States and beyond, as public health concerns and policy problems loom. Should you be frightened, or should you invest? And if you do invest, what should you invest in?

First, a word to the wise: Over the long term, the market tends to grow in value. That's a cold comfort to short-term speculators and those near retirement right now, because it may take some time before the market is back to its old self. But if you're someone who is decades away from retirement, this should be an encouraging thing to hear. If you invest steadily for retirement, then you should generally see your investments appreciate. Despite the occasional dip, the overall picture will be a good one, and compound interest will help you build a nice nest egg. In fact, buying into the market now could be a chance to get stocks while they're undervalued.

There's more to the market than stocks, of course. There are precious metals as well as cryptocurrency. Are these wise investments? The answer may depend on your goals. Some investments are traditionally considered less vulnerable to recessions, but the data on that is mixed. It's better to look at such investments based on their own merits. Gold is a relatively stable investment, as is silver though neither is likely to make you rich anytime soon. Cryptocurrency, on the other hand, is a quick way to make (or lose) a lot of money. Cryptocurrency traders are not simply saving for retirement; they often make real-time decisions and day trade. Dollar by dollar (or byte by byte), they speculate on the future of blockchain-based currencies like Bitcoin.

This isn't simple stuff. Crypto pros keep an eye on sites like CryptoVantage, where they can keep up with cryptocurrency values, volatility, and crypto market news. Just like a stock shareholder or someone involved in real estate matters, these traders accept risks in exchange for the chance to make big bucks. The crypto market is a tricky one, but it has huge upsides for those who can navigate it properly. In other words, this is not a good place for your retirement fund, but it could be a place for you to play around with money you can afford to lose; perhaps you'll strike it rich!

What about gold, silver, and gems? Precious metals and gems are often called recession-proof, but the market hasn't always borne that out. Our advice: If you want to enjoy gems for their own sake, do so, but you shouldn't necessarily view them as an investment. Philanthropist Howard Fensterman is among the prominent figures with a healthy interest in gems. But Fensterman's love of gems is a hobby, not a financial plan: He earned his fortune as an attorney, winning victories in multiple high-profile lawsuits. You are probably not going to make philanthropist-type money swapping gems and precious metals. Besides, a typical gemstone isn't even worth that much (some gemstones are plenty affordable, even for the non-philanthropist set).

Ultimately, it's up to you and we certainly cannot offer you specific financial advice. All we can tell you is that markets tend to go up over the long term, and that some investments are riskier than others. Find a trading platform that you can trust and start saving for retirement, then consider your options for the cash that you aren't putting away for the long term. Perhaps you'll decide to play the cryptocurrency market, perhaps not. In the end, it's your money.

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College 101: Alternative Investments and an Uncertain Era - The Daily Cardinal

Mr. Jimnez was fairly insulated. He had founded a start-up, The Social Us, that connected Venezuelan programmers and designers with American companies looking for cheap labor. Like many wealthier Venezuelans, Mr. Jimnez kept almost all his money in dollars, but this made transactions a headache. He had to illegally swap currency every few days, and a taxi ride would require a stack of bolvars so thick that most drivers accepted only wire transfers.

The situation rekindled Mr. Jimnezs long-running interest in cryptocurrencies. He began paying his employees in a digital coin; even with the crazy volatility of the crypto markets, it was more stable than a Venezuelan bank account, and it wasnt subject to the Maduro regimes diktats. The staff at The Social Us began touting cryptocurrency as a way for ordinary Venezuelans growing numbers of whom were buying Bitcoin on the street to deal with practical problems. One project they designed was a payment terminal that bypassed government limits on spending.

Initially, the Maduro regime saw Bitcoin as a threat. The technology, after all, used a decentralized network to create and move money, and no authority was in charge. But then some members of the government noticed that this cut both ways. Cryptocurrency could also be a way for Venezuela to escape sanctions levied by the United States and international organizations.

In September 2017, an official loyal to Mr. Maduro floated the idea of a digital currency backed by Venezuelas oil reserves. This was unorthodox: One of the tenets of Bitcoin is that its value does not derive from a natural resource or government fiat,only the laws of mathematics. But the distinction faded in the face of Venezuelas desperation. The official, Carlos Vargas, read about Mr. Jimnezs crypto work in a local publication and asked for a meeting.

Soon the hulking form of Mr. Vargas arrived at the office of The Social Us. As he consumed an entire bag of potato chips, Mr. Vargas flattered the young digital workers, saying they were among the only people in Venezuela capable of creating what he had proposed. The idea was exactly what Mr. Jimnez had hoped to hear. The goal was to create a new Venezuelan currency that would move freely over an open network, like Bitcoin. The government would be unable to control or bungle it. Mr. Vargas wanted to call it the Petro Global Coin, but Mr. Jimnez suggested something simpler: the Petro.

The Social Us put together a short pitch deck for the Petro project. But Venezuela is filled with people proposing crazy schemes, and Mr. Jimnez didnt put too much stock in it. Then, in early December, when Mr. Jimnez was at a conference in Colombia, he got an urgent text. Mr. Maduro had just announced a national cryptocurrency called the Petro. Mr. Jimnez threw open his laptop and found a video of the president, in his usual workmans shirt, telling a whooping crowd, This is something momentous.

Continued here:
The Coder and the Dictator - The New York Times

CoreWeave, the largest U.S. miner on the Ethereum blockchain, is redirecting the processing power of 6,000 specialized computer chips toward research to find a therapy for the coronavirus.

These graphics processing units (GPUs) will be pointed toward Stanford University's Folding@home, a long-standing research effort that unveiled a project on Feb. 27 specifically to boost coronavirus research by way of a unique approach to developing pharmaceutical drugs: connecting thousands of computers from around the world to form a distributed supercomputer for disease research.

CoreWeave co-founder and Chief Technology Officer (CTO) Brian Venturo said the project has at least a shot at finding a drug for the virus. As such, CoreWeave has responded by doubling the power of the entire network with its GPUs, which are designed to handle repetitive calculations.

According to Venturo, those 6,000 GPUs made up about 0.2 percent of Ethereum's total hashrate, earning roughly 28 ETH per day, worth about $3,600 at press time.

There is no cure for the coronavirus just yet (though various groups are working on vaccines and research to combat the disease, including IBM's supercomputer). Venturo noted that Folding@home has been used to contribute to breakthroughs in the creation of other important drugs.

"Their research had profound impacts on the development of front-line HIV defense drugs, and we are hoping our [computing power] will aid in the fight against coronavirus," Venturo said.

The coronavirus is taking a toll across the world. Italy and Spain are on lockdown. Conferences, stores and restaurants are closing to stem the spread of the disease; by stoking fears, it's slamming the financial markets in the process.

World computer

When the idea of using GPUs for coronavirus research was mentioned to CoreWeave, the team didn't think twice.

They had a test system up and running "within minutes," Venturo said. Since then, the project quickly snowballed. CoreWeave has been contributing over half of the overall computing power going into the coronavirus wing of Folding@home.

"The idea of 'should we do this?' was never really brought up, it kind of just happened. We were all enthusiastic that we might be able to help," Venturo added.

Folding@home is a decentralized project in the same vein as Bitcoin. Instead of one research firm alone using a massive computer to do research, Folding@home uses the computing power of anyone who wants to participate from around the world even if it's just a single laptop with a little unused computing power to spare.

In this case, the computing power is used to find helpful information relating to the coronavirus. Much like in bitcoin mining, one user might detect a "solution" to the problem at hand, distributing this information to the rest of the group.

"Their protein simulations attempt to find potential 'pockets' where existing [U.S. federal agency Food and Drug Administration (FDA)] approved drugs or other known compounds could help inhibit or treat the virus," Venturo said.

Viruses have proteins "that they use to suppress our immune systems and reproduce themselves. To help tackle coronavirus, we want to understand how these viral proteins work and how we can design therapeutics to stop them," a Folding@home blog post explains.

Simulating these proteins and then looking at them from different angles helps scientists to understand them better, with the potential of finding an antidote. Computers accelerate this process by shuffling through the variations very quickly.

"Our specialty is in using computer simulations to understand proteins moving parts. Watching how the atoms in a protein move relative to one another is important because it captures valuable information that is inaccessible by any other means," the post reads.

Long shot

Folding@home could use even more power. Venturo urges other GPU miners to join the cause.

Even without these calls for participation, though, miners of other cryptocurrencies are already independently taking action. Tulip.tools founder Johann Tanzer put out a call to action to Tezos bakers (that blockchains equivalent of miners) last week, promising to send the leading contributor to Folding@home a modest 15 XTZ, worth roughly $20 at press time.

The initiative blew up, to Tanzer's surprise. Though they might not be contributing as much power as CoreWeave, 20 groups of Tezos miners are now contributing a slice of their hashing power to the cause. Tanzer's pot has swelled to roughly $600 as Tezos users caught wind of the effort and donated.

But that's not to say all miners can participate. While GPUs are flexible, application-specific integrated circuits (ASICs), a type of chip designed specifically for mining, aren't, according to Venturo. Though ASICs are more powerful than GPUs, they're really only made for one thing: To mine cryptocurrency. This is one advantage Venturo thinks Ethereum has over Bitcoin, since GPU mining still works on the former, whereas the latter is now dominated by ASICs.

"This is one of the great things about the Ethereum mining ecosystem, it's basically the largest GPU compute resource on the planet. We were able to redeploy our hardware to help fight a global pandemic in minutes," Venturo said. (However, it's worth noting that Ethereum has seen ASICs enter the fray. Not to mention, ether miners might soon go extinct when a pivotal upgrade makes its way into the network.)

ASICs are useless for the Folding@Home effort, but if bitcoin miners have old GPUs lying around from the early days that they could contribute, too.

Even if other miners join up, though, it's still a long shot that the effort will lead to a helpful drug.

"After discussing with some industry experts [...] we believe the chance of success in utilizing the work done on Folding@Home to deliver a drug to market to be in the 2-5% range," Venturo said.

The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.

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Thousands of These Computers Were Mining Cryptocurrency. Now They're Working on Coronavirus Research - CoinDesk - CoinDesk

Bitcoin and other cryptocurrencies can often be used to support charitable events. During the novel coronavirus outbreak, Italys Red Cross is accepting Bitcoin donations for an advanced medical post.

It is evident that a lot of countries will need help to keep the novel coronavirus in check.

In Italy, the situation has spiraled out of control completely in the past week.

With so many patients awaiting treatment, new solutions need to be found.

One campaign on HelperBit was designed to achieve funding for an advanced medical post for pre-triage.

A goal of 10,000 Euro was set, which was reached on March 15th.

Following the success, the campaign was extended to complete core infrastructure with necessary accessories.

At the time of this campaigns creation, the number of confirmed cases and deaths was much lower compared to today.

These developments only highlight the need for medical supplies in Italy as of right now.

What makes the campaign so interesting is how all of the funding can be done through cryptocurrencies.

Both Bitcoin and various altcoins are accepted under the current circumstances.

It is a great way for cryptocurrency enthusiasts to contribute to the greater cause.

More efforts like these may need to be launched in the near future, as the coronavirus crisis is far from over.

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Cryptocurrency Donations Bring an Advanced Medical Post for Coronavirus Victims to Italy - The Merkle Hash

The cryptocurrency market added nearly $21 billion in the 24 hours up to Friday 1:30 a.m., in a show of recovery following a market-wide sell-off over the past week.

The cryptocurrency market recovered even as stocks continue to battle the novel coronavirus (COVID-19) outbreak.

The world's apex work currency Bitcoin (BTC) traded 17.39% higher at $6,228, according to CoinMarketCap data. The cryptocurrency had dropped as low as $4,106.98 on March 13 and is still trading significantly lower than the price it opened this year, at$7,194.

Other cryptocurrencies followed suit with Ethereum trading 18.36% higher at $139.12. XRP (XRP), the asset backing the Ripple payment network, added 11.60% at 16 cents.

BTC hard fork Bitcoin SV made the largest gain among the top 20 cryptocurrencies. It added 38.12% at $167.32.

As the wider cryptocurrency market made a recovery, stablecoins held back.

Stablecoins are aimed at trading at a fixed price, with their value tied to a fiat currency or other stable assets.

The currencies typically surge when investors scramble to move their cryptocurrency assets to a safer position without needing to convert them to fiat currenciesand drop when the investments are changed back to other assets.

2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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Cryptocurrency Market Gains $25.7B In 24 Hours As It Recovers From Massive Sell-Off - Benzinga

The crisis in the markets is uninterrupted during the expansion of the Covid-19 pandemic. Meanwhile, the market for cryptosystems is experiencing a moment of low confidence. Volatility has skyrocketed and investors are looking to mitigate the risk by moving into safer assets. That is shown in a study published this Sunday, March 15, by the firm TokenInsight.

In the aforementioned text, analysts rely on data about derivatives to establish an insightful picture of the current state of the market. According to their findings, the market is still in a stage of risk reduction, low confidence and high volatility.

If you want to be the first to find out the latest happenings in the cryptocurrency market and to read our complete collection of business news, download our companion app Born2Invest available for free in Google Play.

According to the firm, the market has not yet shaken off the panic. In that context, the study concluded, liquidity has not yet recovered to a normal level. In other words, volatility could continue to wreak havoc.

On the one hand, the firm assured that the recent fall in prices and the decrease in open interest (open futures positions) indicate a downward trend in the short term. In this scenario, investors would be forced to liquidate their positions, added TokenInsight. This is what happened recently at BitMEX, where investors liquidated up to $700 million.

Similarly, following option market data in cases such as the bitcoin futures and options exchange Deribit, the analysis firm found that the market is in a stage of extreme uncertainty along with extremely high volatility.

Among the patterns of behavior, analysts found the possibility of a 23% rise in the price of Bitcoin to a range close to $7,500 between June and September this year. In contrast, the short term shows a lot of distrust, with a percentage of probability of reaching that price at only 13%.

Of the data analyzed by TokenInsight, the way in which the implied volatility of Bitcoin increased in the last month, compared to a wider range of three months, stands out. In the latter range, volatility peaked at 122%, with 89% on average. But in one month, that peak even reached 182%, with the average reaching 95%.

Bitcoin started the year with a strong position on the market. In the face of the halving of mining rewards, the expected halving, scheduled for May, Bitcoin had its best January in the last 7 years. In that first month of the year, the price of BTC had a rebound of more than 32%. With that increase, it surpassed $9,500 after starting 2020 with $7,174.

In that context, however, Bitcoins performance so far this year was not close to other cryptosystems in the market, which also started the year strong. By the end of February, BTCs 23.20% return on investment (ROI) was the second lowest of the top 20 cryptosystems by market capitalization.

However, constant news of the coronavirus outbreak in China and its subsequent spread worldwide has taken its toll on the cryptocurrency market, which has collapsed, as have traditional markets. The fall was so big that Bitcoin has been positioned below its fair value, a metric developed by Coin Metrics, which contrasts market capitalization and effective capitalization.

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DISCLAIMER: This article was written by a third party contributor and does not reflect the opinion of Born2Invest, its management, staff or its associates. Please review our disclaimer for more information.

This article may include forward-looking statements. These forward-looking statements generally are identified by the words believe, project, estimate, become, plan, will, and similar expressions. These forward-looking statements involve known and unknown risks as well as uncertainties, including those discussed in the following cautionary statements and elsewhere in this article and on this site. Although the Company may believe that its expectations are based on reasonable assumptions, the actual results that the Company may achieve may differ materially from any forward-looking statements, which reflect the opinions of the management of the Company only as of the date hereof. Additionally, please make sure to read these important disclosures.

First published in CRIPTONOTICIAS, a third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.

Although we made reasonable efforts to provide accurate translations, some parts may be incorrect. Born2Invest assumes no responsibility for errors, omissions or ambiguities in the translations provided on this website. Any person or entity relying on translated content does so at their own risk. Born2Invest is not responsible for losses caused by such reliance on the accuracy or reliability of translated information. If you wish to report an error or inaccuracy in the translation, we encourage you to contact us.

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The cryptocurrency market is in turmoil - Born2Invest

Bitcoin resumed its roller-coaster rally even as the worsening Coronovirus pandemic discouraged investors from holding risky assets.

The benchmark cryptocurrency jumped 29.11 percent in the last 24 hours, hitting a new weekly high of $6,900 on Coinbase. The move uphill came after last weeks erratic sell-off that crashed bitcoin from $7,969 to as low as $3,858. Nevertheless, a renewed buying interest near the session lows helped the price rebound, eventually taking it up by 78 percent by this Friday.

BTC/USD jumps buy up to 78 percent | Source: TradingView.com

But the scale of bitcoins jump remained incalculable to many. The cryptocurrency last week threatened to move further down below the local bottom as investors appetite for cash boomed. Its rise, therefore, came as a surprise given the poor health of the global economy.

Dan Tapiero, the co-founder of US-based investment management firm, DCAP Holdings, attempted to explain the price rally. The macro investor credited negative interest rates for pumping bitcoin, explaining that people now need to pay the US government for keeping their money with them.

Central banks have intervened lately to control the economic slowdown caused by the spread of Coronavirus. The US Federal Reserve, European Central Bank, and Bank of England introduced stimulus packages, varying from swap lines to purchasing hundreds of billions of dollars in treasuries and lending rate cuts.

Negative interest rates have arrived in the US 6-month T-bill at -2bps, Mr. Tapiero noted. [It] means you need to PAY US govt for 6mo cash deposit. Rates to go much more negative to weaken the dollar. This is confiscation and it is bad but it needed for now to stabilize the system.

[It is] mega-bullish for Bitcoin, he added.

Bitcoins jump closely followed similar upside moves in the financial market. The latest central banks action helped global stocks, oil, bonds, and gold recover, but thinktanks feared that these markets have not bottomed-out yet.

Chris Turner, global head of markets at ING, told FT that market outlook remains uncertain with a clear bias to the downside, taking cues from the unknown extent to which Coronavirus pandemic can spread. The virus has infected more than 200,000 people across the world and has killed about 10,000 others.

The uncertainty has left bitcoin in a similar situation. Teddy Cleps, a prominent crypto trader and analyst, said Friday that buying cryptocurrencies is not peoples priority during a pandemic, adding that bitcoin could fall despite logging attractive gains.

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Top Analyst Explains Why Bitcoin Price is Up 78% amid Coronavirus Outbreak - newsBTC

These days, its taken as a given that KYC must be endured to trade cryptos on centralized exchanges. In fact, there are still dozens of exchanges you can access without having to risk your personal documents and identity. The following guide examines six such platforms, and considers precautions you should take when using KYC-less crypto exchanges.

Also read: BTC Hashrate Follows Price Drop 20% Lower Before Bitcoin Halving

Know Your Customer (KYC) legislation requires businesses to verify the identity of individuals using their service, particularly where the transmission of money is involved. This includes virtual currencies. As a result, the majority of crypto exchanges now enforce KYC. However, it is not mandatory to use a KYC exchange (also referred to as surveillance exchanges by their detractors) to trade. A number of exchanges legally operate in jurisdictions that do not mandate KYC, or have no official headquarters, placing them in a grey area in terms of legal obligations.

Generally speaking, KYC exchanges that are fully regulated offer better protections for their customers, and there may be greater redress in the event of something going wrong, such as a hack. However, this does not mean that KYC-free exchanges are less trustworthy; it is the duty of each trader to perform their due diligence and choose a reputable exchange.

It is not the case that only shadowy individuals seek KYC-less exchanges, such as for tax evasion or criminal purposes. In fact, many traders flock to these platforms because they recognize that KYC requirements make everyone less safe through creating a honeypot for hackers. If you value your privacy, and wish to keep your personal details out of the reach of busybodies and criminals, it makes sense to seek platforms where you can exercise your right to trade cryptocurrencies in peace. Here are six exchanges that fit the bill.

Low fees, a fast trading engine and advanced bidding tools are among the features that Nominex flaunts. Up to 3 BTC a day can be deposited and withdrawn without requiring KYC. The Seychelles-based exchange (registered in the same locale as Bitmex) operates a popular affiliate program, offers demo accounts for traders finding their feet, and is about to launch daily trading tournaments.

Stop, Stop Limit, Trailing Stop, and Scaled are among the order types that can be placed on Nominex. Theres 24-hour customer support and trading fees are reduced by 50% for holders of the native NMX token.

Bybit is a popular derivatives exchange that could become a lot more popular if Bitmex introduces KYC, as has been rumored. Founded in Singapore, Bybit doesnt require KYC, although U.S. residents are excluded from trading. Its most popular product is its BTC-USD perpetual swap, although Bybit also offers futures for XRP, EOS, and ETH. Bybit features a clean and intuitive layout and good customer support that operates around the clock and in multiple languages.

One of the best things about Bybit is its guides to margin trading. These help traders learn the terms, tricks and tips required to effectively swap derivatives products. Theres a Bybit mobile app available on the iOS and Google Play stores, while regular trading competitions keep things fresh.

The worlds largest cryptocurrency exchange is also a bastion of KYC-less trading. There are some caveats though. For one thing, U.S. citizens must trade on Binance US, which comes with KYC. Moreover, there are signs that Binance may transition to full KYC at some stage as its compelled to comply with the numerous jurisdictions where it operates. For now, though, spot trading can be accessed without requiring KYC, and you can withdraw up to 2 BTC per day. For margin trading, however, as well as various other Binance products, KYC is required.

Bitmax is a popular altcoin exchange thats carved out a niche since launching in 2018. Theres reasonable liquidity, margin trading, a wide range of coins listed, and a native BTMX token that provides discounted trading fees and other benefits. The exchange holds regular airdrops and allows users to earn USDT for lending BTMX. Fiat deposits can be made with credit or debit card and theres no KYC requirement, with a 2 BTC daily withdrawal limit.

Many exchanges operate partial KYC, Kucoin among them. What this means is that most traders will not be required to complete verification unless there is suspicious activity or in the case of them wishing to exceed the 2 BTC daily trading limit. Like leading exchanges Binance and Huboi, Kucoin has transitioned into a crypto company that offers a broad range of services, operating under various subdivisions. Although the liquidity could be better, Kucoin has a lot of things in its favor. Its easy to use for one thing and lists a number of tokens that arent available on major exchanges.

Theres a lot more to exchange.Bitcoin.com than merely the ability to sign up without undergoing KYC. BCH trading pairs, SLP tokens, and useful assets that arent available on other platforms are among its many attributes. Theres also the strength of the Bitcoin.com brand, which gives the exchange greater credibility than some of the other KYC-less platforms on the market. The clean and intuitive interface is free of clutter, and theres a community feel to Bitcoin.com Exchange, which is particularly popular with BCH proponents.

Its important to do your own research before signing up for a cryptocurrency exchange. Read reviews, check its policies on accessing the platform from different countries, and determine the quality of its customer support. Finally, and this applies to using all centralized exchanges, regardless of KYC, dont leave all your crypto on there. Only deposit what you actively need for trading purposes and keep the rest of your stack in a noncustodial wallet. Trade safe, be smart, and keep your identity private by avoiding surveillance exchanges.

What KYC-free exchanges do you recommend? Let us know in the comments section below.

Disclaimer: This article is for informational purposes only. It is not an offer or solicitation of an offer to buy or sell, or a recommendation, endorsement, or sponsorship of any products, services, or companies. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

Images courtesy of Shutterstock.

Did you know you can verify any unconfirmed Bitcoin transaction with our Bitcoin Block Explorer tool? Simply complete a Bitcoin address search to view it on the blockchain. Plus, visit our Bitcoin Charts to see whats happening in the industry.

Kai's been manipulating words for a living since 2009 and bought his first bitcoin at $12. It's long gone. He specializes in writing about darknet markets, onchain privacy, and counter-surveillance in the digital age.

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6 Cryptocurrency Exchanges That Don't Require KYC - Bitcoin News

Russias turbulent relationship with the cryptocurrency industry entered a new chapter this week as the nations central bank appeared to suggest a ban on all crypto-related activity.

The news centres around Russias plans to legislate the cryptocurrency industry through its On Digital Financial Assets bill. Apparently the bill will now be updated to outlaw the issuance and circulation of cryptocurrencies.

The previous draft of the bill had allowed for trading, but now with these apparent amendments only the ability to hold crypto will be accepted. Possible punishment will also be handed out to those who violate the law.

The Bank of Russias legal executive, Alexey Guznov, revealed the news to local news agency Interfax on March 16. He explained the decision calling the industry a risk which could not be taken in good conscience currently. He told Interfax:

In terms of the functioning of the financial system and consumer protection system, legalization of the issuance and facilitating the circulation of cryptocurrencies is an unjustified risk. As such, the bill explicitly prohibits emission and organization of cryptocurrency circulation, introducing legal liability for violating these rules.

On the actual application of the bill and the finer details, Guznov was scant on detail. However, he did say that the bill could be passed in the spring parliament session of this year.

This seems to be a shocking and disheartening development for an area of the world which holds a curious and engaged population with cryptocurrencies. Yet there is also a need for calm as this is one of many twists and turns in the life of this On Digital Financial Assets bill which was introduced in January 2018.

This lack of progress is no doubt caused by the warring factions within the government. According to reports, Russias Ministry of Finance is battling to make legislation but the Bank of Russia is pulling in the opposite direction, and a resolution has not been made, despite President Vladimir Putins numerous calls for action.

The Bank of Russia as a long history of rubbishing crypto. The regulation chairwoman, Elvira Nabiullina, said Russia didnt need a national cryptocurrency and a report last month from the bank linked crypto transactions to money laundering risks.

Despite this reluctance for its citizens to hold their own decentralized crypto, the Bank of Russia is also reportedly planning its own digital currency. They tested a pilot tokenization project last December.

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Russia to Ban Cryptocurrency Trading and Issuance? - Asia Crypto Today