The cryptocurrency known as Tezos is among the years best performers across the crypto market so far in 2020 and is showing no signs of stopping.

In the latest move, Tezos exploded by another 24% before a slight pullback. Can the Tezos rally continue, or is an end to the monstrous rally finally in sight?

From the January low to the current high, the cryptocurrency altcoin known as Tezos has grown by over 190% in just over a month.

Year-to-date, its among the crypto markets top-performing altcoins, easily besting even Ethereums rally where the asset doubled in value in less than 40 days. The latest move added to Tezos sizable returns, with another 24% surge on the day.

Related Reading | This Cryptocurrency Is Up Over 130% YTD, But Analyst Warns Not to FOMO

The cryptocurrency is also up nearly 400% from the bottom it set back in October 2019. The rest of the crypto market went on to set a lower-low in mid-December, which Tezos went on to set its first higher low the first sign an uptrend is forming.

And an uptrend did indeed form, one that took the price of Tezos to new highs.

As if nearly 400% returns in a matter of four months wasnt enough for holders of the altcoin asset, the cryptocurrency is also up well over 1,000%, bringing back deja vu of the alt seasons that would occur prior to the crypto bubble popping.

Tezos insane rally is just one of many signs that the crypto bull market may finally be back. During that time, it wasnt uncommon to see dozens of altcoins each at 1,000% or higher gains.

The wealth generated during this time was the trigger that caused FOMO to surge across retail investors, who flocked to the asset class.

If this happens again, Tezos is only getting started.

And while analysts were warning that the asset had gone parabolic and to not FOMO into a rally this late, those that didnt take the advice are up another 200% since the warning was issued.

Related Reading | Altcoin Market Following Early Bitcoin Path Could Lead to Life-Changing Wealth

Tezos early has significant momentum behind it and is now in price discovery mode. Theres no telling just how high the asset could trend, but given how powerful the recent parabolic rally has been, theres likely to be at least a sizable pullback in the days ahead for holders of the explosive altcoin.

At over 1,000% returns from the absolute bottom, FOMOing into Tezos is a tough call but buying the next dip may be wise if the next bull run truly is beginning, as itll be led by new altcoins like Tezos, Link, and many others.

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This Top 10 Cryptocurrency is Surging 24%, And Its Showing No Signs of Stopping - newsBTC

The Internal Revenue Service could be doing more to help taxpayers who own Bitcoin and other forms of cryptocurrency to comply with their tax obligations, according to a new report from the Government Accountability Office.

The report, issued Wednesday by the GAO, acknowledged that the IRS has provided some guidance in 2014 and 2019 on what it refers to as virtual currency. In 2014, it issued Notice 2014-21, which said the IRS would treat Bitcoin and other virtual currencies as property for federal income tax purposes and offered some examples of how long-standing tax principles could be applied to transactions involving virtual currency. Despite dramatic increases, decreases and volatility in the prices of various forms of digital currency such as Bitcoin, it took another five years before the IRS responded to the demand for further guidance in the form of frequently answered questions on virtual currency transactions.

However, part of the 2019 FAQ guidance isnt considered authoritative because it was not published in the Internal Revenue Bulletin. The IRS has said that only guidance published in the IRB is its authoritative interpretation of the tax laws. The IRS didnt make it clear to taxpayers that this part of the guidance isnt authoritative and is subject to change.

The IRS has seen the need for taxpayers to report on their crypto trades and holdings, and for this tax season it added a question to the top of Schedule 1 of Form 1040 asking, At any time during 2019, did you receive, sell, send, exchange, or otherwise acquire any financial interest in any virtual currency?

The current IRS guidance says that using virtual currency can produce taxable capital gains, but the GAO report said the IRS could do more to help taxpayers comply. Financial institutions already report information about investment sales to the IRS and taxpayers, to make both aware of any taxable income. But while some cryptocurrency transactions are reported, far from all of them are.

Taxpayers are required to report and pay taxes on income from cryptocurrency use, but the IRS still has limited data on tax compliance for virtual currency. The information returns filed by third parties, such as financial institutions, generally dont require filers to indicate whether the income or transactions they report involved cryptocurrency. The IRS launched a virtual currency compliance campaign in 2018 and worked with other agencies on criminal investigations. Last July, the IRS started mailing more than 10,000 letters to taxpayers with cryptocurrency activity telling them about their potential tax obligations.

However, the IRS and the Financial Crimes Enforcement Network, also known as FinCEN, havent clearly and publicly explained when and if the requirements for reporting financial assets held in foreign countries apply to virtual currencies, the GAO pointed out. Clarifying and providing publicly available information about those requirements could improve the data available for tax enforcement and make it less likely that taxpayers will file reports that are not legally required.

The GAO recommended the IRS clarify that part of its 2019 guidance isnt authoritative and take steps to increase information reporting, and that FinCEN and the IRS address how foreign asset reporting laws apply to virtual currency. The IRS agreed with the GAOs recommendation on information reporting, but it disagreed with the other two suggestions, arguing that a disclaimer statement is unnecessary and its premature to address virtual currency foreign reporting.

We continue to engage a broad spectrum of external stakeholders for feedback on how the IRS might balance taxpayer service with proper regulatory enforcement of digital assets, including virtual currency, wrote Sunita Lough, deputy commissioner for services and enforcement at the IRS, in response to the report. The wide variety of currency exchanges and digital assets pose a challenge to issuing guidance on specific circumstances, but the guidance issued by the IRS to date illustrates how longstanding tax principles associated with the sale, exchange or disposition of property can apply to virtual currency.

For its part, the GAO said it believes a disclaimer would increase transparency and the IRS could clarify foreign reporting without waiting for future developments in the industry. FinCEN, however, agreed with the GAO's recommendation. FinCEN will coordinate with the IRS to determine the best approach to provide clarity to the public regarding the application of the Report of Foreign Bank and Financial Accounts (FBAR) to virtual currency, wrote FinCEN director Kenneth A. Blanco in response to the report. Currently, the FBAR regulations do not define virtual currency held in an offshore account as a type of reportable account.

The IRS recently removed wording from its FAQ page about the applicability of the rules to virtual currency used in games like Fortnite and Roblox, according to Bloomberg Tax, with an IRS official saying the inclusion of the in-game currency was an error.

Link:
IRS urged by GAO to offer more cryptocurrency tax guidance - Accounting Today

Paxos Standard (PAX) continues to blur the line between traditional finance and the blockchain -- to the benefit of its users.

One of several types of cryptocurrencies that attempts to offer both anonymity and stability, PAX is a regulated "stablecoin" -- those cryptocurrencies that are backed by reserve assets. Now, it's also begun offering auto-transfers between bank deposits and stablecoins, so thatcustomers can automatically wire funds from U.S. bank accounts into either Paxos Standard or Binance USD stablecoins.

First issued in 2018 by the New York-based blockchain company Paxos, PAX was released as a token on the Ethereum Blockchain and is backed by funds held in FDIC-insured, U.S.-domiciled banks.

The Paxos Standard Token is now the fourth largest stablecoin with a market cap of $220 million and trading volumes of around $350 million daily. It is listed on over 100 exchanges, walletsand over-the-counter desks and has grown in popularity among traders due to its immediate settlement and verified reserves.

PAX FCAS is up 34-points (4.45%) since late-January when Paxos announced a new feature allowing customers to automatically wire transfer funds to or from their bank accounts. The goal is to increase the inflow of dollars on the Ethereum blockchain.

The team highlights the practicality of this new automated feature if you have weekly, recurring deposits of USD; if you are a trader who needs stablecoins on a weekly basis, or a merchant who accepts payment in stablecoins for instance. The team is actively making these transfers faster, within minutes for requests below a certain USD threshold, which explains the 10.22% increase in Developer Behavior were seeing.

FCAS is up 34-points (4.45%)

Developer Behavior is up 57-points (10.22%)

User Activity is up 14-points (1.48%)

Market Maturity is down 1-point (-0.10%)

TheStreet

Stablecoins provide the standard benefits of cryptocurrency without the volatility of price. This makes them extremely useful for users who wish to switch between a volatile cryptocurrency or traditional currency, and a more stable asset.

Regulations in the U.S., however, may deem stablecoins as evidence of debt that is put in circulation as money, forcing the issuer to be licensed as a bank or trust company. Paxos (formerly known as itBit Trust Company LLC) is well positioned in this regard because it is licensed as a limited purpose trust company, distinguishing itself within the blockchain industry as a trustworthy issuer.

Were really a technology firm at heart, and so were trying to give you the confidence of a bank, but the innovation of Silicon Valley, Paxos CEO Charles Cascarilla says.

The FCAS Tracker provides institutional and sophisticated retail investors a top-down approach to tracking 500+ cryptocurrencies fundamentals. FCAS Tracker is currently free to a select group of new users as we continue to develop the product. Visit us here to gain access to Flipside Analytics.

See more here:
Cryptocurrency in Focus: Making PAX With Traditional Banking - TheStreet

Samsung announced a new generation of smartphones during its Unpacked event on February 11. The Galaxy S20s provide advanced cameras, 5G technology and will be able to store your crypto.

However, unlike Samsungs last range of phones, the Galaxy S10s, it hasnt broadcast the cryptocurrency support to the same degree. While previously it advertised its blockchain keystore, announcing new coinsand eventually adding Bitcointhis time theres barely a mention of crypto or blockchain anywhere.

The Samsung Galaxy S20 has an upgraded screen. Image: Samsung.

The only reference is on Samsungs official website, which states that the S20 phones will contain a secure processor dedicated to protecting your PIN, password, pattern and Blockchain Private Key.

But elsewhere its lacking. There are no details as to what this might entail, which coins are supported and how many apps will be able to access the crypto support.

However, we can look to previous phones for answers. The S10s contained a secure enclave for keeping private keys, kept in the phones Knox security platform. It connects to Samsungs blockchain keystore app, which is used for people to see their balances and send money. Considering that the S20 also contains Knox, its possible that it will continue to use the same system.

We have reached out to Samsung for details on the S20s blockchain support and will update this article if we hear back.

Read this article:
Samsungs new Galaxy S20 will have cryptocurrency support - Decrypt

February 12, 2020 London

The Benchmark ranks over 160 active spot exchanges globally to bring transparency and accountability to the cryptoasset exchange landscape by providing a framework for assessing risk. A grade is assigned to each exchange to help identify the lowest risk exchanges in the industry.

The analysis reveals a shift in the top five exchanges with itBit, the US and Japanese regulated exchange, taking the number 1 spot for the first time. It is followed by Gemini (2), Coinbase (3), Kraken (4), Bitstamp (5), Liquid (6), Bitfinex (7), OKEx (8), bitFlyer (9), and OKCoin (10).

CryptoCompares Exchange Benchmark plays an important role in providing institutional and retail investors with a secure, trusted marketplace. We encourage all initiatives that help to foster best practices among trading venues in this fast-growing industry, said Gabor Gurbacs, director, digital asset strategy at VanEck.

Charles Hayter, co-founder and CEO of CryptoCompare, commented,

The industry needs reliable metrics to evaluate the vast number of cryptocurrency exchanges globally and we have been extremely pleased with the response to our analysis since launch last year. Our cryptocurrency Exchange Benchmark aims to provide this transparency by assessing exchanges using a clear methodology to assess risk. The result is clear data on which exchanges are managing multiple risks in the most effective manner, improving decision-making for market participants.

CryptoCompare launched the Exchange Benchmark in June 2019 to evaluate cryptocurrency exchanges globally. Initially ranking over 100 exchanges, it now includes analysis of more than 165 crypto exchanges globally. It employs a qualitative (due diligence) and quantitative (market quality based on order book and trade data) approach and uses correlation-of-volume-to-volatility and standard-deviation-of-volume as inputs to the analysis.The Exchange Benchmark does not rely on aggregate volume data in its analysis due to concerns over volume manipulation, wash trading and trading incentives.

The ranking components include: geography; legal/regulatory; investment; team/company; data provision; trade surveillance; market quality and a penalty factor for negative events. Analysis is based on public information and detailed methodology is made freely available, underscoring CryptoCompares commitment to bringing greater transparency and improved decision-making to the cryptocurrency marketplace.

The full report can be found here.

See original here:
CryptoCompare Ranks Top 10 Bitcoin (BTC) and Cryptocurrency Exchanges - The Daily Hodl

NEM Smart Asset System allows users to create their own tokens without any kind of programming. To create a cryptocurrency, the user should simply open the client, enter the name for the token, the numbers of coins, transferability, levy, divisibility and a token is created in just a few minutes. The transactions are made for the new coin, and the transaction fee is anything set by the user.

NEM tweeted: @NemVentures, the venture capital and investment arm of the #NEM blockchain ecosystem, has joined the Decentralized AI Alliance (#DAIA) an alliance of more than fifty diverse organizations working together to democratize the use and control of AI.

The NEM venture is committed to a vision of the AI and Blockchain space as being an open, fair, and decentralized system of technology. The DAIA is powered by thought leaders from global organizations. Therefore, NEM is proud of sharing a strategy with DAIA.

Sydney Ifergan, the Crypto Expert, tweeted: The partnership of NEM Ventures with DAIA is good because like minds and similar visions are useful in forwarding the vision of NEM, which is to function as an open, fair and decentralized system of technology.

There is so much happening at NEM. And, a lot of work is yet to happen to win the communitys loyalty. Recently, the NEM foundation rebranded Catapult to SYMBOL from NEM.

The relevant materials are made available in 5 different languages considering the company is international and that not all are English speaking.

Alex Tinsman, the enthusiastic President at the NEM.io foundation, expressed that the foundation is open, and they rely on the informed democratic on the public blockchain. Further stated, NEM has suffered highly volatile days, and they now have high-security standards providing for advanced, user-friendly multisig features with SYMBOL from NEM.

NEM is now well aware that they need good ideas, good code, and good intentions to build evergreen brands, and they are putting in effort towards achieving it. They are looking to establish organic growth to improve the bonding between the members of the community.

While NEM is working hard on their projects, they are putting equal efforts in distributing trust in their community. They are doing what it takes to be competitive at the same time are being authentic. They are trying to cater to the unique needs of their sub-communities. Anything big or small, they listen to their community.

Link:
NEM Cryptocurrency to build Bonding between Community with Organic Growth - The Cryptocurrency Analytics

The last few years have proven to be a crucial moment for cryptocurrency security. The more cryptocurrency has risen in popularity, the more high profile security breaches have occurred, and the more key institutions have been targeted.

The young cryptocurrency industry has always been brimming with opportunity, but with this comes risk, especially when there are lapses in security. Crypto security is especially important to crypto owners because one of the main points of cryptocurrencies like Bitcoin in the first place has been to prevent criminals from accessing your database to access your currency as easily as actual money.

There are two key hacks that shed light on such lapses:

In early 2018, bad agents targeted Coincheck Japan and succeeded in stealing over $500 million in NEM tokens. To this day, it is one of the largest and most notable crypto heists, standing shoulder to shoulder with hacks such as the notorious Mt. Gox attack a heist of roughly 800,000 BTC.

Even earlier, in 2016, Bangladesh Bank found itself in the crosshairs of ambitious and skilled hackers. Using fully authenticated transitions, thieves attempted to steal over $800 million across the SWIFT network. Although the thieves received a "meager" $101 million for their efforts, $81 million did eventually make its hands into beneficiaries in South Asia.

What is it that ties these examples together? The victims were sloppy. Both central banks and notable cryptocurrency exchanges had poorly managed security (such as login details) when it came to the transfer of cryptocurrency or fiat money.

Although the SWIFT network was at the center of the Bangladesh Bank heist and similar cybercrimes, the network itself was not hacked; the network's users were. Likewise, in both the Coincheck and Mt. Gox hack, the blockchains central to the hack were never compromised. Rather, the exchanges themselves, and the users were. The login usernames, passwords, and even the systems themselves had such poor security that hackers were essentially left an open door. A door they had no compunction about using.

Thankfully, greater cybersecurity controls were put in place by the SWIFT community. The weak links were quickly identified, and the hackers' go-to methods of attack were disseminated amongst the community.

Can the cryptocurrency industry claim at the enterprise level that it has done the same? Can it claim that it has learned from its own mistakes in an age where negative media coverage is one of the first things customers will often see online? It is difficult to say, but what is clear is that 2020 must see it come together and rise to face the growing risk of crypto threats.

Crypto has matured, but a lot of growth is still needed

The crypto industry's security has grown more robust over the last few years. The solutions presented by custodial and noncustodial wallet providers are increasingly resilient.

Powered by new multiparty protocols or hardware security, these enable secure asset transfers on a consistent basis. Given how popular crypto trading has become with multiple codes in both the EU and USA, these new tools are essential.

Both hardware and software-based multi-signature wallet access are being widely used by organizations. Operating environments are increasingly being encrypted, addresses are being whitelisted, and many other areas of security are being monitored and tightened. Additional improvements have been seen in wallet management systems.

The security community now discusses hacks as they happen, taking steps to patch holes in their security and blacklist any addresses that were party to the theft. However, as these attacks have repeatedly occurred in 2019, there is still much more work to be done.

Upgrading security technology is important, yes, but even more important are the steps taken to improve the risk management operations at the enterprise level. While technology is important, having efficient operations will make all security efforts far more productive and effective. Likewise, more rigorous checks on access to customer assets are key.

Customer investments must be secured, and the industry must adopt standard business practices when it comes to security, access, and any conflicts of interest. In other words, the industry has to start taking itself more seriously.

While no typical asset manager in the world has custody over their customer's assets, this is not the case in the crypto industry. This is a huge mistake. Without having the right principles in place, the industry will continue to deny itself the investment it needs investment it often needs to keep it from remaining vulnerable.

Security has become a huge concern not just for companies and exchanges but also for individuals who possess cryptocurrency. More and more people are looking to security measures such as using hardware wallets, two-factor authentication, and VPN services to keep their cryptocurrency wallets and transactions safe.

But if they see an industry that isn't doing the same, will they trust it? How long will it take the industry to realize that it needs to adopt the financial practices that have proven to work in traditional finance?

In the last year alone, countless foundations, exchanges, and funds have recognized that the crypto industry will never reach its full potential without mature business practices and complete transparency. These are the two things that incidentally protect the customers and their assets and are the elements that matter most. In an age where cybercrime seems to be hitting its stride, this is essential.

As the industry has started to shift towards transparency and best practices, it has increasingly seen enterprise-level solutions emerge to counter hacking risks. Machine learning, and AI, for instance, are cutting edge technologies that hackers struggle to counter. This has brought more willingness from insurance companies to cover third-party custodians who are using the right security technologies.

How will 2020 change the cryptocurrency industry?

For the cryptocurrency to evolve in the ways it needs to, there needs to be more awareness of security risks and a lot more education. Funds, foundations, exchanges, projects, and more must ensure that their processes are secure, transparent and follow best practices the practices that keep their customer's assets safe. Most players will correctly decide to outsource this important task to third party companies who specialize in these exact practices.

This will lead to a state of affairs that sees 2020 close with funds being more difficult to hack than ever. With more organization and collaboration between players and more adoption of enterprise-level security practices and principles, thieves will be far more discouraged from undertaking an attack on a crypto organization.

If the industry can manage to galvanize and make this happen, then the future of the cryptocurrency industry will be looking bright.

See the original post:
Predicting the Cost of Cryptocurrency Hacks in 2020 - CircleID

In a Nutshell: TravelbyBit was launched in 2017 as a way for travelers to use their cryptocurrency when booking trips and traveling. Thanks to a partnership with Binance, the platform has grown substantially and now functions as a full-fledged travel booking site. TravelbyBit also appeals to those looking to acquire Bitcoin through its rewards program where they can book using Visa or Mastercard and receive a portion of Bitcoin in return. The company also facilitates transparent donations via the blockchain. And its Visa debit card will launch in the near future, allowing users to spend crypto without being limited to the travel space.

Planning and booking vacations or business trips has never been easier, thanks to the internet and plentiful travel sites as well as direct-booking options through hotels and airlines.

Travelers can select flights, hotels, or Airbnb rentals from nearly any price level and date range.

But there is at least one audience that has largely been overlooked when it comes to travel booking sites the crypto crowd. Of course, some vendors accept cryptocurrency as payment, but none of the major travel booking websites currently allows users to use their Bitcoin or Ethereum to pay for their next getaway.

The company launched in 2017 with a focus on facilitating point-of-sale cryptocurrency payments in Australia travel destinations. CEO and Co-Founder Caleb Yeoh said TravelbyBit received its seed funding from the Australian government in a bid to boost tourism.

Australia went through a phase where it said, We really envy what Silicon Valley has, and we want to create our own startup ecosystem. And were going to provide some funding and support and mentorship to a bunch of fintech startups, Yeoh said. So we were very fortunate to be in the right place at the right time.

Yeoh said that, as TravelbyBits point-of-sale network was growing in Australia, they were hearing feedback from frequent travelers and digital nomads who liked the service. The feedback led to TravelbyBit expanding to the full-fledged travel booking platform system that it is today.

It wasnt long before TravelbyBit entered into a partnership with the worlds leading crypto exchange, Binance, which invested more than $3.5 million in the young company.

Being advocates of cryptocurrency, we felt that it would be really important for the crypto ecosystem and the blockchain ecosystem to have a flagship company that specializes in the travel space, Yeoh said.

Yeoh likens TravelbyBit to the well-known travel site, Expedia. Of course, TravelbyBits differentiating factor is that it accepts crypto payments. But for those who dont have crypto to spend, or are holding it as a speculative asset, TravelbyBit also offers a valuable proposition earning Bitcoin.

We spoke to a lot of people and they said, We really like your idea we love the concept of TravelbyBit but we dont have a lot of Bitcoin, Yeoh said. So theyre not at the stage where theyre prepared to spend Bitcoin and maybe wanting to collect more Bitcoin.

With those people in mind, TravelbyBit established its crypto rewards program. For users who dont want to spend their cryptocurrency, they have the option to pay with Visa and Mastercard and in turn, receive a portion of Bitcoin as a reward.

When you make an eligible flight or hotel booking, you will earn TravelbyBit Status Points, which help you progress through the Status Tiers, according to the company website. Once you accumulate enough Status Points required to progress to the next Status Tier, you will unlock a greater reward percentage.

Users are automatically given Bronze member status upon signing up for the Crypto Rewards Program activating a 1% Bitcoin reward on hotel bookings and $1.50 in Bitcoin.

Earn Silver status by spending US$2,000 on eligible bookings to unlock a 2% Bitcoin reward on hotel bookings and US$2.50 in Bitcoin reward on flight bookings, according to TravelbyBit.

The status tiers progress to Gold, Platinum, and finally, Titanium, which is for users who spend $90,000 on eligible bookings to unlock the 10% Bitcoin reward on hotel bookings and $30.50 in Bitcoin on flight bookings.

Yeoh said Binance has given TravelbyBit a mandate to continue to experiment with ways to grow the cryptocurrency ecosystem, including driving adoption and making crypto more usable in the larger finance world.

One of the ways TravelbyBit is doing this is through its charity program, which makes donations transparent through blockchain technology.

Weve partnered with Binance Charity, a non-profit organization that utilizes the efficiency, transparency, and accountability of blockchain technology to improve the lives of the Bottom Billion, according to the company website.

Binance Charity works on location to understand local needs and develop solutions for specific social problems, according to TravelbyBit. This includes continuously testing and improving their solutions to scale up their social impact.

And TravelbyBit users can be sure their money is reaching the intended charitable organization.

Normally, if you make a donation to a charitable organization collecting money on the street, God knows how many hands and middlemen it goes through, Yeoh said. You have no visibility of whether the money reaches the recipient, or what portion may reach the recipient.

One of the highlighted charities on the TravelbyBit website is funding lunches for underprivileged Ugandan children so they stay in school and dont go hungry.

We tack on a donation option whenever you book a flight on our platform, Yeoh said. With the blockchain donation function, you can be sure that the money once you send it to us we can show that that whole sum is transferred directly to a blockchain wallet that goes directly to the school in Africa.

Yeoh said he believes the donations function is a very powerful use case for cryptocurrency and blockchain technology, which aligns with the companys goal to find ways to expand the ecosystem.

Were trying to integrate different blockchain technologies into our platform payments, donations, and a whole bunch of other stuff to really build out the use cases for blockchain.

TravelbyBit is preparing to launch its new travel rewards debit card and is currently offering its users to sign up for early access to the card.

Yeoh explained how TravelbyBit values freedom and privacy in the digital payments ecosystem, and that he is personally an advocate of peoples rights to use their money through their system of choice.

Were seeing the growth of a lot of these super apps and wallets where theres a huge amount of centralization on one payment method or system, he said. I think peoples freedoms could potentially be put at risk when you have the centralization of payment systems.

In China, for example, consumers in recent years have seen a huge shift away from cash and primarily make all their transactions using one of two digital payment apps.

The apps also include a social messaging component, and Yeoh said that, if users send anti-government messages via these structures, the government can ban them from making payments using the apps. This can essentially shut citizens out of participating in the economy and society in many ways.

Yeoh said cryptocurrencies and the blockchain allow people to work around these types of centralized systems and maintain their freedom.

Regarding our credit card platform, were seeing as well that there are a bunch of people, like digital nomads, who would like to transact outside the travel space and in their daily life using crypto, he said.

TravelbyBits Visa crypto-backed debit card makes a lot of sense for these consumers, Yeoh said.

It gives them a lot more freedom, so they are not limited to booking just for travel but there are a whole bunch of other expenses they could use it for as well, he said.

Yeoh explained that the debit card interacts with an app and functions as a Bitcoin wallet as well. Users will download the app and use their wallet to top up their Visa debit card by transferring their crypto balances to it, then use it anywhere Visa is accepted.

The card itself would support not just Bitcoin, but the Binance BNB coin and the Binance stable coin the Binance USD as well, he said.

Yeoh said TravelbyBit plans to launch the card in the near future.

While TravelbyBits main focus is on the travel industry, its clear that the innovative platform is laying the groundwork for a long-lasting presence in the cryptocurrency ecosystem.

Read more:
TravelbyBit: A Travel Booking Website That Lets Users Pay With Cryptocurrency and Earn Crypto Rewards - CardRates.com

Blockmove officially launched its platform a couple of months ago. For such a short period of time, Blockmove has managed to assert itself on the market and is successfully gaining momentum. And all this is due to the fact that the company keeps up with the times and develops the blockchain industry. You are asking how? Its very simple. Blockmove is working towards introducing cryptocurrency into everyday life. Lets look first at the service, that the company provides and who may need it.

More about Blockmove

The Blockmove platform will be interest to both ordinary users (for storing, receiving, sending, and exchanging cryptocurrency) and professional market participants (for accepting cryptocurrency on their websites, online stores, and apps). In the first case, we are talking about using the Blockmove crypto wallet, and in the second about applying for Merchant and API services. In both cases, the user needs to go through a simple and quick registration and then use the services that are necessary for them. The service supports a huge number of different cryptocurrencies, is highly secure, guarantees complete anonymity, and provides a functional software tool (API) for its partners.

Blockmove competitive advantages

Representatives of the Blockmove team say with confidence that their service has no direct competitors. Indeed, comparing the distinctive features of Blockmove with popular analogues, it is not difficult to identify obvious advantages. First, those who want to use the service as a wallet don`t pay any additional commission for deposits or withdrawals. Secondly, really favorable terms are offered to those who want to use Merchant or API, just look at the following table:

Create a completely anonymous and secure wallet right now by going to the Blockmove official website. The registration process is very simple you only need an email and no additional information. After registration, all functionality and features will be immediately available.

More:
Blockmove has launched a multi-functional platform for working with cryptocurrency wallet, Merchant, and API provider in one place - The Merkle Hash

Welcome to Moonday Mornings, fellow Hard Forkers.

You know the drill, lets take a look at this weekends top cryptocurrency and blockchain headlines.

If you didnt get enough of the $4 billion OneCoin cryptocurrency scam then youre in luck. According to entertainment news website Deadline, the real-life drama is going to be made into a TV show.

In an allegedly intense bidding war, New Regency Television International beat the likes of 20th Century TV to win the screen rights to the popular BBC Sounds podcast, The Missing Crypto Queen. Its definitely worth a listen. Full details on the shows production are yet to be announced.

[Read: 2019s juiciest crypto drama: The saga of OneCoins $4B cryptocurrency scam]

A company offering a digital savings scheme, with fixed interest of 5%, has had to remove its adverts from London Underground train stations after coming under pressure from the UKs Financial Conduct Authority, The Telegraph reports.

According to the report, the billboards said interest rates were fixed and investors could remove their money whenever they pleased. What wasnt disclosed on the adverts though, was that investor money was used to buy cryptocurrency before being transferred to a financial services firm based in China.

The Australian government has finally released its blockchain roadmap that it says will help foster adoption in the country, The Block reports.

The 52-page document outlines a 12-step plan for the next five years, that will supposedly lead Australia to a blockchain empowered future, whatever that means. The Australian government announced its plans for blockchain last year, despite the latest document, were still waiting for anything tangible to develop.

The London-based cryptocurrency exchange LBX is facing compulsory liquidation, news.bitcoin.com reports. Despite the recent rise in cryptocurrency prices, the exchange hasnt been able to stay afloat.The company was issued a winding up order at the end of January for failing to pay creditors.

Court appointed liquidators are now working to reportedly resolve client concerns as soon as possible, including any money owed to them. It hasnt been mentioned how much money clients are owed.

And finally

A man from the US state of Michigan has been ordered to pay over $208,000 in restitution for his role in a cryptocurrency-based scam, according to a US Department of Justice release.

The individual, James Matthew Thomas, has also been sentenced to one year and one day in prison for defrauding two people from Missoula, Montana. The perpetrator pleaded guilty to wire fraud and money laundering last October.

According to the release, the Thomas solicited investments from his LinkedIn network, promising them large returns for investing in cryptocurrency. Only, he never paid his investors back. Where have we heard that before?

Well, there you have it. Now go get on with your week of watching Bitcoins price go up and down.

Published February 10, 2020 09:42 UTC

Read the original here:
Moonday Mornings: $4B OneCoin cryptocurrency scam to be made into TV drama - The Next Web