Bitcoin Exchange – BTCRUMOR.com https://btcrumor.com Bitcoin News & Rumors 2018 Sat, 23 Dec 2017 23:08:46 +0000 en-US hourly 1 https://wordpress.org/?v=4.9.1 Bitcoin Exchange Launched in 40 Countries will Allow Bitcoin Trading in 28 Currencies https://btcrumor.com/news/bitcoin-exchange-launched-in-40-countries-will-allow-bitcoin-trading-in-28-currencies https://btcrumor.com/news/bitcoin-exchange-launched-in-40-countries-will-allow-bitcoin-trading-in-28-currencies#respond Tue, 16 Jun 2015 19:17:55 +0000 https://btcrumor.com/?p=1432 MonetaGo, the latest exchange to join the Bitcoin bandwagon has launched in 40 countries and unravels its plans to make Bitcoins ‘global’. This service was announced in April this year and buying and selling of Bitcoins can happen in 28 local currencies. The users of MonetaGo also have the additional…

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MonetaGo, the latest exchange to join the Bitcoin bandwagon has launched in 40 countries and unravels its plans to make Bitcoins ‘global’.

This service was announced in April this year and buying and selling of Bitcoins can happen in 28 local currencies. The users of MonetaGo also have the additional facility to peg their bitcoins against the several exchange rates.

Globalizing the Bitcoins

Jesse Chenard, CEO MonetaGo, revealed in an interview with CoinDesk that even though virtual currency came through as a global phenomenon so that the transactions can happen across borders seamlessly. However, the reality is that the currency as of now is being traded only in 3 major currencies, which is defeating the whole purpose.

MonetaGo plans to expand their services beyond Euro, Dollar and Yuan so that the underserved markets can also access its benefits and that too in a cost effective way.

Ability to Fix the Bitcoin Value

MonetaGo allows the users to fix value of their bitcoins to any of the 27 local currencies, just like BitReserve. However, what separates the two platforms from one another is that MonetaGo allows the users to cash their BitDollars into actual dollars, a service that is not available with BitReserve.

Businesses can benefit greatly by this feature where they can send their fixed-value bitcoins to other users and they can then convert it to the currency of their choice. It will not only protect both the end of the transaction bearers with bitcoin’s volatility but can also speed up the process of making payments, especially those companies that lack a trustworthy banking platform between themselves.

This platform is usable by the users for no additional charge for the first couple of weeks. However, later a fee of 0.1% to 0.5% per trade will be chargeable depending upon the trade volume.

Focus on being Compliant

Ever since its inception in 2014, MonetaGo team has been particularly concerned about the compliance. Their New York division is already in the middle of finishing their paperwork to get the BitLicense that has been introduced recently.

Some states like New York have clearly stated their standards of operation. However, there are still many banks and regulators that are not speaking clearly about this topic. Chenard believes that by the close of the year, it will become clearer as to how they must operate and what standards they must meet.

Learn more about the bitcoin miners by clicking exchanges mining merchants.

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CoinDesk Report Reveals the Community of Bitcoin Users https://btcrumor.com/news/coindesk-report-reveals-the-community-of-bitcoin-users https://btcrumor.com/news/coindesk-report-reveals-the-community-of-bitcoin-users#respond Thu, 11 Jun 2015 15:41:39 +0000 https://btcrumor.com/?p=1420 Bitcoin’s community is predominantly made up of techies, nerd and young male users since the inception of cryptocurrency. However, in 2015, the data was analysed to bring forth the profile of real users worldwide that are using bitcoins. As per the data collected of 4000 respondents, supposedly the largest survey…

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Bitcoin’s community is predominantly made up of techies, nerd and young male users since the inception of cryptocurrency.

However, in 2015, the data was analysed to bring forth the profile of real users worldwide that are using bitcoins.

As per the data collected of 4000 respondents, supposedly the largest survey in the history of bitcoin, this report is an in depth analysis of the really uses the digital currency, who is not really using it and how that does not make any difference. The report also identifies how cryptocurrency can expand its usage and move on to newer set of people with different economic needs and status.

Highlights of the report

Overall, the bitcoin research reports how the young, white men that are tech enthusiasts became the promoters of bitcoin. Amongst over 3500 respondents, 60% are below the age of 35 years. It also highlights the women have still not been in the fold despite several efforts such as Bitcoin women’s day. More than 90% of the survey takers were identified as men.

As per the racial break-up, 65.8% respondents using bitcoin were identified as ‘white’ with ‘Asians’ close second.

Even though the people using bitcoins are tech enthusiasts, the notion that they are also the early adopters of the technology is basically wrong. Most people who entered into the bitcoin trade began only after May 2013 while others started last year.

However, this data has its own limitations since the survey was only available on the main website of CoinDesk and other social media platforms. This is the reason the respondents are mainly centred in the American or European sectors only and does not reflect the profiles of users that are stationed outside these regions. The findings of the survey do not take this imbalance into account and only present their conclusions based on the results of the survey as-is.

The Research Says

CoinDesk research has been a great initiative in this direction that tries to provide an in-depth analysis of the current user base. This will help the market channel their efforts accordingly and expand the reach of crypto-currency to other users as well.

Get more insight into the changing world of bitcoin at bitcoin news

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Bitcoin amid Legitimacy Battle Still https://btcrumor.com/news/bitcoin-amid-legitimacy-battle-still https://btcrumor.com/news/bitcoin-amid-legitimacy-battle-still#respond Mon, 01 Jun 2015 16:26:59 +0000 https://btcrumor.com/?p=1381 The Digital currency Bitcoin has always promoted itself as an easy way to transfer money online. However, unfortunately for the currency, it has always been in the news for all the wrong reasons. Just recently founder of Silk Road, Ross Ulbricht, was sentenced to life imprisonment because they operated a bitcoin…

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The Digital currency Bitcoin has always promoted itself as an easy way to transfer money online. However, unfortunately for the currency, it has always been in the news for all the wrong reasons.

Just recently founder of Silk Road, Ross Ulbricht, was sentenced to life imprisonment because they operated a bitcoin based online market place dealing in items such as drugs, weapons and other items of illegal nature.

As if Silk Road wasn’t enough, soon after this racket went down, 750,000 bitcoins were stolen from Mt Gox, a Japan based bitcoin exchange. Today, the people believe that this was a planned heist by the top management of the exchange!

Although this was the last disaster that made headlines for Bitcoins, the damage was already done. Since then, Bitcoin has seen steady growth, albeit downward. Its prices have now hit an all time low of $237, the price it was traded on last Friday. In 2013, it went as high as $1150.

So what is the problem?

The industry experts, based on high profile bitcoiners in New York City, believe that the reason for such a sharp decline of Bitcoins is an obvious lack of rules and regulations. However, a high profile group of investors deem that they can turn the tide!

New Exchange in the Offing

The famous Winklevoss twins, Tyler and Cameron, evangelists of New York’s bitcoiners are planning to setup an exchange called Gemini that would be FDIC-insured. They call this exchange as the Nasdaq of Bitcoin. Tyler Winklevoss also said that this year will be a great year for the Bitcoin infrastructure.

The twins are Harvard educated and gain a lot of traction after they had a tangle with Mark Zuckerberg over who founded Facebook. According to them, the potential investors are waiting for the right opportunity to invest in the bitcoins.

The Winklevoss brothers will be joined by Ben Lawsky, top watchdog of New York’s Wall Street, who will be stepping down from his current position to start a consulting firm dealing in Bitcoins. Together, Gemini and Lawsy aim to make bitcoin a legitimate buzzword for the international trading and the online market place. They vow to do their best to clear Bitcoin’s name tainted with fraud.

You can now learn latest updates about Bitcoin . Click here and get access to the Bitcoin directory.

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Bitcoin Moves another Step Closet to Mainstream Adoption https://btcrumor.com/news/bitcoin-moves-another-step-closet-to-mainstream-adoption https://btcrumor.com/news/bitcoin-moves-another-step-closet-to-mainstream-adoption#respond Wed, 20 May 2015 15:38:21 +0000 https://btcrumor.com/?p=1336 Good news for all the pro-bitcoin people, Bitcoin moves a step closer to being acknowledged for mainstream adoption. With the launch of Bitcoin index on New York Stock Exchange, this digital currency will certainly become more credible in the face of conventional acceptance. Meeting the Customer Needs Thomas Farley, NYSE…

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Good news for all the pro-bitcoin people, Bitcoin moves a step closer to being acknowledged for mainstream adoption. With the launch of Bitcoin index on New York Stock Exchange, this digital currency will certainly become more credible in the face of conventional acceptance.

Meeting the Customer Needs

Thomas Farley, NYSE President, made the announcement early on Tuesday that Bitcoin index will now be listed on the stock exchange in order to meet the growing customer demand. He also pointed out that Bitcoins are becoming data points on which the customers would like to keep a tab on so that they can contemplate trading or investment in this upcoming asset class. With Bitcoin launched as an index, it will gain the transparency and credibility to be considered as a serious currency.

This new index will evaluate the price of Bitcoin based on USD by assessing all the transactions that have been processed across all the exchanges. They however clarified that only those transactions will be evaluated that meet the NYSE standards a quality while assessing the digital currency value.

In 2013, Bitcoin experienced a massive downfall when Mt. Gox faced intense losses at the hands of hacking and cyber theft of millions of dollars worth of Bitcoins that plunged the currency from $1200 to $230 that it is being traded on today.

NYSE Funded CoinBase for Initial Data

Earlier this year, NYSE placed their funds and trust in CoinBase, the start-up company that will supply the data that NYSE requires.

Big Names joining the Bandwagon

Not just NYSE but other robust businesses such as Goldman Sachs and Larry Summers, former US Treasury secretary have become involved in the Bitcoin in some capacity through their investments in start-up companies. They not only earn seats in their board of directors but also get access to these underlying technologies.

Farley says that there is a possibility of not being able to meet the expectations of crypto currency enthusiasts. However, they are also willing to take more risks and make some more investments to perfect the technology. They will either get it absolutely right the first time or learn from their mistakes and quickly move on.

Business Insider also reported that Bitcoin is just one of the many indexes that they plan to launch this year.

Get more updated news on digital currencies at Bitcoin News.

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Is the Bitcoin headed for Collapse? https://btcrumor.com/news/is-the-bitcoin-headed-for-collapse https://btcrumor.com/news/is-the-bitcoin-headed-for-collapse#respond Mon, 11 May 2015 15:30:55 +0000 https://btcrumor.com/?p=1294 If the experts and speculators were to be believed, Bitcoin collapse is not only possible but may be quite possible in the near future. Assuming that everyone just closed their eyes to the fuss around Bitcoin and the BlockChain technology and everybody hops onto the trending bandwagon. However, a quick…

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If the experts and speculators were to be believed, Bitcoin collapse is not only possible but may be quite possible in the near future. Assuming that everyone just closed their eyes to the fuss around Bitcoin and the BlockChain technology and everybody hops onto the trending bandwagon. However, a quick glimpse into this version of future may clear things up a little.

Likelihood of Bitcoin Collapse

If the Bitcoin ever underwent a decline, the collapse may not even be visible in the initial stages to notice the change. All your transactions related to Bitcoin will accumulate in money pool, business as usual, before they show in block chain. The Bitcoin core capacity is ignored until this stage and all the transactions are visible in memory of node only. However, the change will issue will start to show when the core capacity hits 80% mark and time taken to confirm the transactions would increase to 20 minutes. But the problem will start when capacity reaches 100% and all the transactions will fall in pending status.

Bitcoin Core Capacity not equipped to Handle log jam  

When the system creates backlog queue, the memory node will offset one of the three things – 1) node slips into pressure mode and slows the operation significantly, 2) node crashes when it tries to look for more memory and is unable to find or 3) core is started manually and notice that some form of collapse has happened.

All this while, the Bitcoin wallets are continually sending transactions to the node memory without knowing about the system’s inability to process the same due to capacity saturation.

Worst case scenario

The one possible way to handle this would be to increase the transaction fee. However, does that solve the problem? Not really! You keep paying higher and wait for the transaction to be confirmed, meanwhile the backlog keeps increasing and the more memory nodes will collapse under pressure.

Imagine when the information about all this chaos reaches the media. Bitcoin increasing fees inexplicably, problem of double spending across the world, hours it takes for confirmation, internal systems failing in blockchain system, etc-etc. As if Bitcoin hasn’t faced enough bad publicity already!

What happens as a result, the Bitcoin will fall into disrepute, the creators of it will be considered inefficient and people will begin to lose faith in the Bitcoin ecosystem and thus a well managed collapse of the entire Bitcoin bubble.

Click on Bitcoin Directory to get access to the directory information. Click here to know about Bitcoin ATM Map locations.

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Bitcoin Transactions via BitStamp Exchange Traceable https://btcrumor.com/news/bitcoin-transactions-via-bitstamp-exchange-traceable https://btcrumor.com/news/bitcoin-transactions-via-bitstamp-exchange-traceable#respond Thu, 07 May 2015 17:39:20 +0000 https://btcrumor.com/?p=1281 As per the latest update in the Bitcoin space, the Bitcoin transactions made via BitStamp exchange are traceable, apparently. This revelation was highlighted by bitcoin security firm BlockTrail when they were reviewing the exchange activity for their internal monitoring. The issue came forth that the change address is being recorded…

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As per the latest update in the Bitcoin space, the Bitcoin transactions made via BitStamp exchange are traceable, apparently. This revelation was highlighted by bitcoin security firm BlockTrail when they were reviewing the exchange activity for their internal monitoring. The issue came forth that the change address is being recorded in the system.

Ruben De Vries, BlockTrail CTO, confirmed that some addresses gave the same output which also happened to be the addresses that were created to send residual bitcoin from the transaction. Boaz Becher, CEO BlockTrail said that this activity gave clear picture of the BitStamp movement that included Bitcoin transactions as well as the deposits made.

Bitcoin Anonymity at Risk

One of the biggest and most touted features of Bitcoins is its ability to remain anonymous. However, this issue may end up revealing the transactions as well as the details of the end users and the clients.

BitGo, software provider of this digital currency would be able to gain access to this significant information and BlockTrail is already working on a way to fix this issue. Despite the highlighted flaw in the system, BitGo has not yet implemented into corrective methods so far. CEO of BitGo, Ben Davenport, admitted to be aware of this glitch for some time now and dismissed it as an insignificant issue.

He explains that the reason why they have not done anything yet to deal with this problem is that they need the change output to understand which output of a transaction changes when transactions are being listed. This information was critical because of the missing functionality in their indexer at the back end which has only been corrected in the last couple of weeks.

Security will not be affected

BitGo assured that the security of the transactions will not be compromised at any given point because they use multi-sig security element on their platform. However, the adoption of multi-sig technology in the wallets has been pretty low which means that BitGo has had no challenges in identifying the change address of the Bitcoin exchange for some time now and no potential issues have erupted so far.

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CoinBase targets BitLicense for Flaws in their Policies https://btcrumor.com/news/coinbase-targets-bitlicense-for-flaws-in-their-policies https://btcrumor.com/news/coinbase-targets-bitlicense-for-flaws-in-their-policies#respond Mon, 04 May 2015 15:34:33 +0000 https://btcrumor.com/?p=1266 CoinBase targeted the New York based Bitcoin regulatory framework again for their faulty policies. Only a few weeks left to its conclusion, the California based Coinbased reminded its counterparts that there are a lot of flaws which are yet to be addressed. They believe that if the issues were passed…

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CoinBase targeted the New York based Bitcoin regulatory framework again for their faulty policies. Only a few weeks left to its conclusion, the California based Coinbased reminded its counterparts that there are a lot of flaws which are yet to be addressed. They believe that if the issues were passed in its existing form, it will smother the innovation and threaten the consumers as well as the businesses present in New York.

Duplicity of Bitcoin License and Policies 

Coinbase put forth the apprehension on behalf of the new start-ups and blamed NYDFS for lobbying laws that will obstruct the new companies due to weak and shaky regulations. The firm also explained that trading companies and Bitcoin wallets are already lawfully allowed to obtain Money-Transmitter–License. They believe that with existing regulations in place, there is no need for BitLicense as it only adds an extra and redundant layer that will impact the movement of the companies and industry as a whole. It is also demanding that the AML reporting should be abolished as such a law already exists at the Federal level.

Restrictions on Launch of New Features

The final draft of BitLicense will impose a restriction on Bitcoin companies to launch new features or updates without the approval of NYDFS. Conibase, on the other hand, is debating these restrictions with the authorities and calling them invalid.

They say that it is unfair for the new companies to wait for a long period of time to get sanctions on new services and products. Instead, they could create a system where the authorities are alerted about the upgrade. However, permissions seem downright illogical, according to Coinbase.

Coinbase requesting Unofficial Commenting

The commenting periods are long over but Coinbase urges the Bitcoin community to voice out their concerns to Benjamin Lawsky, NYDFS superintendent by using his twitter handle @BenLawsky. Coinbase is not sure if the authorities will pay any attention to the unofficial requests and comments or if they will be addressed at all. However, before the final launch of BitLicense, it is important that the apprehensions and concerns reach the floor.

The regulatory body needs to be informed about the possible flaws and the inconveniences that their policies will cause to the industry and community. These issues must be addressed before it becomes final law.

Get access to the most updated Bitcoin Directory. Follow this link to check out the Bitcon Map locations.

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The Love-Hate Relationship of Bitcoin Vs. Wall Street https://btcrumor.com/news/the-love-hate-relationship-of-bitcoin-vs-wall-street Tue, 21 Apr 2015 15:21:28 +0000 https://btcrumor.com/?p=1212 When Bitcoin was launched initially, the Wall Street did not show any interest in its coming and going. There was no mention of Bitcoin in Wall Street Journal until 2011 and all this while the bitcoin enthusiasts and the financial community of Bitcoin was in a fix why they are…

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When Bitcoin was launched initially, the Wall Street did not show any interest in its coming and going. There was no mention of Bitcoin in Wall Street Journal until 2011 and all this while the bitcoin enthusiasts and the financial community of Bitcoin was in a fix why they are so quiet about the new innovation in digital currency. They even speculated that perhaps were threatened by Bitcoin’s potential or did not take it seriously enough to comment on its existence. There were even rumours that the Bitcoin is being abandoned so that it can be adopted at a mainstream level. This new technology, however, was more powerful than just being a trend or a speculation.

In 2013, when Merrill Lynch became the first high profile bank to publish a report on Bitcoins, the tables turned. This report highlighted the initial assessment of the currency’s potential in overtaking the traditional means of transferring money as well as a reliable source of payment method in ecommerce sites. This was the beginning of Bitcoin into prominent financial circles where the big players started to acknowledge its existence, even if it meant debunking it as an inferior currency.

What 2015 looks like for Bitcoin

The start of the year looked really good for this crypto-currency when NYSE, Citigroup, USAA and BBVA made investments in Coinbase, a bitcoin service provider. This move gave Bitcoin to be acknowledged at the U.S. Exchange after being licensed. Few days later, Gemini was launched by Cameron and Tyler Winklevoss which is a fully regulated and compliant Bitcoin exchange, also christened as the Nasdaq of Bitcoin. Following suit, Wall Street opened up to digital currency when they began hiring the experts in this field.

Traders speak well about Bitcoin since its beginning

From the very onset, traders working in exalted financial companies have always been attracted to this digital currency. Some enthusiasts that work on Wall Street have even come together to increase the awareness of Bitcoin. Wall Street may be taking time to adapt to the shift in the environment; there are already high profile executives that have left their jobs to join Bitcoin Start-ups.

Future of Bitcoin in Wall Street looks Bright

Mathew Roszak, Noble Markets Investor told Inside Bitcoin that there is not a single white board in entire Wall Street that does not have Bitcoin smeared in bold ink. Although the relationship between the two may have started on a rough ground, they are both likely to uphold each other better than tearing each other down. If Wall Street and Bitcoin join in some way, the name and experience of the former will help bring the latter into the mainstream. Bitcoin in turn can help the bankers provide cheaper and reliable services to their customers.

Access the BTC Directory to get latest industry information. Click here for most recent news about Bitcoin.

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New Coinbase exchange Lunar causes Bitcoin going up https://btcrumor.com/news/new-coinbase-exchange-lunar-causes-bitcoin-going https://btcrumor.com/news/new-coinbase-exchange-lunar-causes-bitcoin-going#respond Mon, 26 Jan 2015 11:59:23 +0000 https://btcrumor.com/?p=781 Prior today we distributed a piece enumerating the most recent report by installment transforming organization Coinbase – uncovering that it would dispatch the initially authorized US bitcoin trade in the exact not so distant future. The trade – named Lunar – comes after Coinbase as of late advertised that it…

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Prior today we distributed a piece enumerating the most recent report by installment transforming organization Coinbase – uncovering that it would dispatch the initially authorized US bitcoin trade in the exact not so distant future. The trade – named Lunar – comes after Coinbase as of late advertised that it raised more than $100 million from New York Stock Exchange and a scope of funding firms, and is guaranteed by the organization to turn into the most secure and most secure shelter to both purchase and offer computerized coin.

Once more, as secured on the past piece, the computerized coin group (essentially BTC) took to the news greatly well, with bitcoin surging from barely short of $230 at Friday’s business sector near to more than $260 through the weekend. Presently, it would appear that this pattern is situated to proceed as we head into a crisp week. Investigate the outline beneath.

As should be obvious from the outline, activity today has broken BTCUSD (Bitstamp) through the tricky 300 level safety – a level not seen for about 3 weeks. Could this at long last be the impetus we have to stem the bearish energy in BTCUSD and infuse some idealism into the space? Maybe.

Indeed with today’s bullish activity, we must consider that we are currently exchanging barely short of 305, a level that served as solid backing on two events in October and December a year ago. What does this mean? That being said, from an absolutely specialized viewpoint in a customary money related diagraming way, we may see some safety as we head beyond any confining influence of the European showcases on Monday. Because of this, we could see a brief remedy back up to (and even underneath) 300 throughout the following few hours.

more info

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CoinCorner is now accepting debit and credit cards for Bitcoin purchases https://btcrumor.com/news/coincorner-now-accepting-debit-credit-cards-bitcoin-purchases https://btcrumor.com/news/coincorner-now-accepting-debit-credit-cards-bitcoin-purchases#respond Sat, 25 Oct 2014 13:05:02 +0000 https://btcrumor.com/?p=609 British bitcoin exchange CoinCorner now allows clients to purchase bitcoin and some altcoins with debit and credit cards. The feature went live yesterday, making CoinCorner one of very few places in the British Isles to accept direct card payments for cryptocurrency. Bittylicious, a similar exchange, launched card payments back in…

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British bitcoin exchange CoinCorner now allows clients to purchase bitcoin and some altcoins with debit and credit cards.

The feature went live yesterday, making CoinCorner one of very few places in the British Isles to accept direct card payments for cryptocurrency. Bittylicious, a similar exchange, launched card payments back in May.

Traditional bank transfer methods are still on offer for users who do not wish to rely on cards to deposit funds with CoinCorner.

Charlie Woolnough, CEO of CoinCorner, told that there are some limitations to the service, however:

    “We accept credit and debit cards that are 3D secure or where the issuing bank is willing to take liability and skip 3D secure. We are working with WalPay to help facilitate this.”

Woolnough also added that the first card transactions were cleared yesterday.

CoinCorner launched last July as the first cryotocurrency exchange on the Isle of Man, offering an exchange platform for bitcoin, as well as litecoin and dogecoin.
Easy option for customers

The exchange said its aim in accepting secure cards is to eliminate the chance of fraud and yet open up another channel by which people can acquire cryptocurrency.

Daniel Scott, CoinCorner CTO, said the new payment method provides users with another, familiar option for obtaining bitcoin.

“People are used to paying for things on the Internet with their credit and debit cards and many people have asked us why they can’t pay for bitcoin with their cards. Well, now they can,” Scott said.

Last month, CoinCorner launched additional services, including a mobile wallet, merchant point-of-sale (POS) solution and a payment gateway.

The firm’s COO Phil Collins said:
“CoinCorner will continue to innovate and has several more developments in the pipeline that will make bitcoin even easier to acquire.”

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