Bitcoin for Beginners: Which Cryptocurrency Exchange Should I Use?

Source : Bitcoin for Beginners: Which Cryptocurrency Exchange Should I Use? It’s a question which surfaces daily on Telegram, Twitter, and Reddit: “Which exchange should I join?” The cheapest and most reliable means of purchasing cryptocurrency is generally through an exchange which will take your fiat currency and swap it for crypto. But with dozens of exchanges to choose from, each offering different features and currencies, the choice can be bewildering. The following guide will help you make an informed decision. Also read: Getting Bitcoin on Grandma’s Android Phone: 3 Easy Steps What’s in an Exchange? There’s a number of factors to weigh up when choosing a cryptocurrency exchange. These include customer service, uptime, security, track record, currency pairs, ease of use and – most importantly – whether it’s accessible from your country. The following list provides a rundown of the features and benefits of some of the web’s most popular exchanges. It’s not exhaustive, and none of the sites included here are endorsed by Bear in mind also that storing bitcoin on an exchange comes with its risks. To learn more about this, read our first Bitcoin for Beginners guide. Coinbase The world’s most popular bitcoin broker, Coinbase will also hook you up with litecoin and ethereum and operate as your online wallet. It’s not an outright exchange, however, so if you’re wanting to trade multiple altcoins, you’ll need to send your cryptocurrency somewhere like Poloniex or Bittrex. Coinbase is easy to use, has above average customer support and a good mobile app. It’s also one of the safer exchanges for storing your coins, thanks to full insurance and robust security. No exchange is impregnable, but Coinbase is about as good as it gets. Bittrex Bittrex – or ‘trex to its devotees – is where altcoin traders gather en masse. The site has a good security record, is user-friendly, and boasts hundreds of cryptocurrencies, paired against the U.S. dollar, bitcoin, litecoin, and ethereum. Bittrex has no mobile app unfortunately and of late the exchange has been slow to add new coins and tokens. Thus, if you want to purchase many of the latest ICO tokens, you’ll need to go elsewhere – usually to Binance. Binance Binance is the new Bittrex. It’s a community-focused exchange which exudes a friendly vibe, regularly lists new coins, and has high trade volume which recently surpassed $1 billion a day. Despite being one of the newest cryptocurrency exchanges on the market, Binance has built up a solid reputation. Traders can enjoy lower fees when they use the site’s native BNB token. Poloniex If Binance is the new Bittrex then Poloniex is the old ‘trex. This seasoned exchange is loaded with a vast array of altcoins including many that are hard to find elsewhere. Despite rumors of poor security, Poloniex hasn’t suffered any major breaches to date. Its customer service is notoriously bad though, and whatever you do, don’t try to download the Poloniex app on the Google Play store – there’s a good chance …

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10 Japanese Cryptocurrency Exchanges and Tokyo Police Unite to Fight Cyber Crime

Source : 10 Japanese Cryptocurrency Exchanges and Tokyo Police Unite to Fight Cyber Crime Ten Japanese cryptocurrency exchanges have signed an agreement with the Tokyo Metropolitan Police Department to collaborate to prevent cyber crime. Along with growing bitcoin adoption in Japan is the number of cybercrime cases including unauthorized access to online accounts and money laundering. Also read: Japan Increases Lead – Approves Another Four New Cryptocurrency Exchanges 10 Exchanges Collaborate Ten of Japan’s leading cryptocurrency exchanges signed an “agreement on countermeasures against cybercrime” with the Tokyo Metropolitan Police Department on Wednesday. This move is “in response to the increasing number of crimes targeting digital currencies online such as bitcoin,” Sankei Shimbun described. The exchanges are SBI Virtual Currencies, Bitflyer, Bitpoint Japan, GMO Coin, Coincheck, Bit Trade, Quoine, Bitbank, Btc Box, and Money Partners. All of the companies have been licensed by the Japanese Financial Services Authority (FSA) to legally operate as digital currency exchanges, except one – Coincheck. Japan’s second-largest bitcoin exchange by volume is still under review by the agency. The signing ceremony between 10 exchange and Tokyo Police Department.In order to prevent cyber crime, the exchanges agree to cooperate with each other and the Tokyo Metropolitan Police Department. Specifically, they agree to “mutual cooperation, cybercrime reporting notification, criminal investigation cooperation, information sharing, [and] measures to prevent widespread damage,” App Times detailed. Rising Cybercrime Cases The Director of Security Bureau of the National Police Agency (NPA) commented, “Although the spread of virtual currency is remarkable, it is a sense of crisis when it turns into a crime; this agreement is encouraging.” Digital currency exchanges face many cybersecurity challenges such as unauthorized access, illegal transactions, and money laundering. Last month, the National Police Agency revealed 170 money laundering cases in Japan involving cryptocurrency in the six months ending in October, Japan Times reported. “We want to take countermeasures by collaborating with relevant ministries and agencies as well as business operators,” an NPA official emphasized. A November Cabinet Office survey of 3,000 people in Japan aged 18 and over shows “a growing number of people are worried about the effects of cyber-terrorism, unauthorized access to online accounts and other high-tech crimes,” the news outlet detailed. Bitflyer CEO Yuzo Kano commented: While the number of shops that can settle virtual currencies has increased, the number of crimes is increasing…we want to work hard to prevent damage. What do you think of Japan’s top cryptocurrency exchanges and the Tokyo Police Department uniting to fight cyber crime? Let us know in the comments section below. Images courtesy of Shutterstock and the Tokyo Police Department. Need to calculate your bitcoin holdings? Check our tools section. The post 10 Japanese Cryptocurrency Exchanges and Tokyo Police Unite to Fight Cyber Crime appeared first on Bitcoin News.

Japan Increases Lead – Approves Another Four New Cryptocurrency Exchanges

Source : Japan Increases Lead – Approves Another Four New Cryptocurrency Exchanges Source The Japanese Financial Services Agency has approved four more cryptocurrency exchanges to legally operate in Japan. This is the second round of approvals by the agency; the first was for 11 exchanges in September. Also read: ‘No Regulation Needed’ – Moscow Stock Exchange Plans to Trade Bitcoin Futures More Crypto Exchanges Approved by FSA The Japanese Financial Services Agency (FSA) has posted on its website the details of four new cryptocurrency exchanges which the agency approved on December 1. This is the second time the FSA has approved a list of crypto exchanges. The first time was on September 29 when 11 exchanges were awarded registration. The FSA explained that only the digital currencies handled by the approved 15 exchanges are confirmed to “correspond to the definition under the fund settlement law,” based on information provided by each exchange. The fund settlement law went into effect on April 1. It legalizes bitcoin as a method of payment in Japan and requires cryptocurrency exchanges to register with the FSA. The four companies approved in this round are recently established exchanges: Tokyo Bitcoin Exchange Co. Ltd, Bit Arg Exchange Tokyo Co. Ltd, FTT Corporation, and Xtheta Corporation. According to the FSA’s website, three of the four companies above have only been approved to trade bitcoin (BTC). Only Xtheta Corporation has been approved to trade additional cryptocurrencies: ether (ETH), bitcoin cash (BCH), ripple (XRP), litecoin (LTC), ethereum classic (ETC), NEM (XEM), monacoin (MONA), and counterparty tokens (XCP). More Applications Being Reviewed The FSA is still reviewing a number of applications. At the end of September, on top of the 11 exchanges approved at the time, Nikkei reported that 17 companies were under “ongoing review.” Twelve companies did not meet the agency’s registration requirements and subsequently closed down their exchange operations. Among the applications currently being reviewed is one from Japan’s second largest bitcoin exchange, Coincheck. The exchange issued a statement on Friday clarifying that its application to register as a “virtual currency exchange trader” was submitted on September 13 and is still currently “under review.” Nonetheless, Coincheck assured its customers that “we are still able to provide the service as usual.” Last month, the FSA published a document clarifying its administrative policies including on cryptocurrencies and initial coin offerings (ICOs). It outlines how cryptocurrency exchanges will be monitored. This follows the agency’s announcement that it has begun monitoring the eleven exchanges which were approved in September. Do you think Japan can have too many cryptocurrency exchanges? Let us know in the comments section below. Images courtesy of Shutterstock and Japanese FSA. Need to calculate your bitcoin holdings? Check our tools section. The post Japan Increases Lead – Approves Another Four New Cryptocurrency Exchanges appeared first on Bitcoin News.

Survey Says 88% of Japanese Have Heard of Bitcoin

Source : Survey Says 88% of Japanese Have Heard of Bitcoin A recent survey of 10,000 men and women across Japan shows that 88% of them have heard of bitcoin. Among those that have bitcoin, 47% said that they have used it in retail stores but long-term investment is most respondents’ main reason for purchasing bitcoin. Also read: Local Japanese Government Considers ICO to Revitalize Region 88% Have Heard of Bitcoin Global market research company with agencies in over 90 countries Macromill Group recently conducted a survey on the awareness and usage of bitcoin among the Japanese. Ten thousand men and women aged 20 to 69 across Japan participated. The Japanese government legalized bitcoin as a method of payment in April. In July, they declared the sale of bitcoin free from consumption tax. Since then, more Japanese have been exposed to bitcoin online and offline, as more merchants start accepting the digital currency and promoting them in the process. Among the 10,000 respondents, Macromill Group found that 56.2% said they have heard of bitcoin but do not know what it is. In contrast, 31.4% said they know what bitcoin is while 12.4% admitted they do not know what it is at all. The company summarized: Overall, the cognitive rate was high, 88%. Out of respondents who had heard of bitcoin, 82.9% said they have not purchased it. Only 2.7% said they have purchased it and currently own some while 2% said they have purchased it but do not own any currently. Using Bitcoin at Stores As more people start using bitcoin and becoming aware of the digital currency, more merchants are also attracted to it, ranging from small ma and pa shops to large retail chains. Electronics giant Bic Camera, for example, started accepting bitcoin at all of its locations across the country in July due to popular demand. The bitcoin exchange Coincheck claims that over 5,000 merchants in Japan accept bitcoin currently, with more being added regularly. When respondents who have bitcoin were asked whether they have used it to pay for goods and services at retail stores, 47% said that they have while 53% said no. When asked what type of businesses they would like to see accept bitcoin payments, the most common answer was “convenience stores,” which 43% want, followed by “e-commerce sites,” preferred by 40% of respondents. 31% said “restaurants and cafes,” 29% “electronics chain stores” and 28% “supermarkets.” Reasons for Purchasing Bitcoin Among the respondents who are currently holding bitcoin, 42% said that they purchased because “I was interested in virtual currency.” The same percentage of respondents said, “I thought that bitcoin will spread in the future.” Meanwhile, 33% replied, “I thought it would be profitable” and 30% said, “I like new things.” In addition, most respondents, 54%, revealed that they purchased bitcoin as a long-term investment. Meanwhile, 42% purchased it as a short-term investment, and 34% purchased bitcoin to pay for goods and services. What do you think of the survey’s results? Do you think the Japanese are far ahead of the …

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Major Financial Platforms are Adopting Bitcoin, What Happens by 2018?

Source : Major Financial Platforms are Adopting Bitcoin, What Happens by 2018? Some of the world’s largest financial platforms and exchanges that support a variety of investors have started to adopt bitcoin at a rapid pace, providing sufficient liquidity and infrastructure around bitcoin and its market. Integration of Bitcoin by Major Financial Platforms Earlier this week, CME, the global financial sector’s leading options exchange, officially announced that its bitcoin futures exchange will be launched by the second week of December. Consequently, $95 billion hedge fund Man Group revealed its short-term plan to include bitcoin in its portfolio of assets. Square, the $15 billion payments app, which is led by CEO Jack Dorsey, the founder and CEO of Twitter, also revealed that it has integrated bitcoin over the past week, allowing users to purchase and sell bitcoin through its mobile app. “We’re always listening to our customers and we’ve found that they are interested in using the Cash App to buy Bitcoin. We’re exploring how Square can make this experience faster and easier, and have rolled out this feature to a small number of Cash App customers. We believe cryptocurrency can greatly impact the ability of individuals to participate in the global financial system and we’re excited to learn more here,” said a Square spokesperson. As of current, Square’s bitcoin feature operates similar to a bitcoin wallet and brokerage, which enables existing users to buy, sell, and store bitcoin. Users cannot make payments with bitcoin through the Square app and its network yet, but full integration of bitcoin is on the roadmap of Square. In consideration of the Square app’s 3 million active user base, Square will likely be able to penetrate into the bitcoin market at a rapid pace in the upcoming months, competing against existing wallet and brokerage service providers such as Coinbase. Rapid Adoption of Bitcoin by Merchants Square’s integration of bitcoin and the company’s enthusiasm towards bitcoin as a decentralized cryptocurrency is particularly optimistic for the long-term growth of bitcoin, given that the adoption of mainstream investors, payments applications, and financial service providers would ultimately lead to the adoption of merchants. For instance, Square operates a widely utilized Point of Sale (PoS) network which merchants and stores such as restaurants, cafes, and retailers use to receive payments via credit and debit cards, and cash. The integration of bitcoin into the Square PoS network, which the company is not considering at the time of reporting, would allow bitcoin users to use the cryptocurrency at hundreds of thousands of locations. In Japan, several major PoS network operators including Recruit Lifestyle have already begun the process of rolling out bitcoin across their networks of more than 260,000 merchants. “Some other stores are also preparing Air Regi bitcoin payments. Also, adding to existing 260,000 stores that already use Air Regi, we will cooperate with Recruit Lifestyle to expand the stores that accept bitcoin,” Kagayaki Kawabata, Coincheck International Business Developer, told in an interview. Currently, around 10,000 merchants in Japan accept …

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Some Things to Consider When Investing in the Volatile Cryptocurrency Market, Part 2

Source : Some Things to Consider When Investing in the Volatile Cryptocurrency Market, Part 2 If you are like many investors right now you have heard of bitcoin and cryptocurrencies and the high returns that have been generated for investors but you really don’t know much about them – and you know you should. Even though prominent skeptics remain the sector continues to grow as an asset class and garners increasing support from legitimate financial market participants. Disclosure: This is a Sponsored Article In September Japan took a leading position towards legitimizing cryptocurrency trading and investing by authorizing 11 cryptocurrency exchanges to operate in the country. Earlier in the year Japan made Bitcoin a legal currency. These are significant developments given that Japan is the world’s third largest economy. RecentlyMark Cuban, billionaire co-star of the reality television series Shark Tank,recommended that investors have up to 10% of their investment portfolios allocated to cryptocurrencies. Nevertheless, one of the more significant developments recently is the announcement by the CME Groupthat they will launch a bitcoin futures contract before the end of the year. This will certainly help move cryptocurrencies closer the mainstream as it will attract greater participation by institutional investors and it further legitimizes bitcoin, and by default the cryptocurrency sector as a whole. As mentioned in Part 1 of this article,there are a couple approaches that can be taken by the average individual investor when looking to participate in cryptocurrency investing. There is a self-directed approach, where an investor makes their own decisions as to what to buy and sell and when, or the investor can work with professionals who are well versed in the sector and who make portfolio decisions on behalf of a group of investors. In the second instance the investment would be in a portfolio of cryptocurrencies via a coin traded fund (CTF),such as The Token Fund, an up-and-coming leader in the CTF sector. For self-directed investors who want to participate in the cryptocurrency market directly, you’ll need to open an account with an exchange and fund the account. Like any financial market exchange this is central hub where bitcoin and other cryptocurrencies are traded. Some of the larger exchanges include Coinbase and Gemini in the U.S., Kraken in Europe, and BitFinex and Coincheck in Asia.A larger exchange can be expected to have better liquidity and therefore the potential for less slippage on order fills when compared to a smaller exchange.In general, it’s better to use an exchange that is within your general geographic region in case there are issues to resolve with the exchange. A simple approach to investing is to build a portfolio of equal weighted positions in the 10 largest cryptocurrencies. In other words, if you have $50,000 to allocate to cryptocurrencies you would purchase $5,000 worth of each. Another approach is to allocate your capital based on a weighting relative to the market capitalization of the top five or ten cryptocurrencies. The largest allocation would go to bitcoin since it has the …

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SegWit2x watchlist: wallets, exchanges, and important links to bookmark​

Source : SegWit2x watchlist: wallets, exchanges, and important links to bookmark​ As the controversial hard fork for Bitcoin’s legacy chain draws near, here are some links and lists to help you survive the impending chaos. We are a little over 1,400 blocks away from activating SegWit2x (falling on or around November 16), with mining pool support down by around 1% from yesterday—82.8% as of last checking. As we get closer to the hard fork activation—and a probable blockchain split, here are some important lists and links to help guide you through these turbulent times. First, most exchanges have decided to retain the ticker symbol BTC for the legacy chain, SegWit BTC (before SegWit2X). While some say the market could flip this someday by deciding which one is the “real Bitcoin,” to avoid confusion, immediately after this fork, most exchanges will follow the nomenclature below: BTC – legacy chain, Segwit, BT1, SegWit CoreB2X – SegWit2x, BT2, 2X, S2XBCH – Bitcoin Cash (no SegWit)BTG – Bitcoin Gold, SegWit Gold, SWG Important Links Before anything else, read up on precautionary measures to help keep your funds safe. Check out this survival guide. To keep track of the hard fork’s activation time, you may check this countdown. To get an updated count of the mining support for SegWit2x, check To see which companies support SegWit2x, which ones have pulled out their support, as well as which ones migrated to Bitcoin Cash, check this link. If you want to cross-check the mining pools in that last list with how much hash rate they hold in the BTC network, check out this pie chart. Wallets that will credit BTC holders with B2X Because the SegWit2x chain will not enforce replay protection, it’s important to mitigate the risks yourself. Below are wallets that are SegWit2x compatible—some of them have replay protection. It’s best to check out the company’s statement on the upcoming hard fork. Not all wallets will be compatible with SegWit2x. If you don’t care about B2X, there is no need to do anything. Although securing your coins into a cold wallet is highly recommended. A desktop wallet where you keep your private keys is also more advisable than keeping coins in an exchange. This lists the wallets that will be crediting BTC holders with an equivalent amount of B2X. Please remember, however, that SegWit2x does not have replay protection in place. While no one can say no to free money, at least be informed of the risks of SegWit2x. It is safest to not go on a selling or trading spree to take advantage of this free money immediately after the fork due to the lack of security. This essentially means YOU CAN LOSE ALL YOUR BTC even if you only try to sell your B2X (and vice versa), so it’s best to wait a bit and perhaps follow some precautionary measures. Bitfinex BitOasis Bitrefill (will credit users but automatically sell them for BTC) Bitso BTCC Coinbase CoinNest HitBTC Luno OKCoin OKEx …

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Chinese Exchanges Seek Second Chance in Japan and Other More Crypto-Friendly Countries

Following the crackdown by the Chinese government last month, bitcoin exchanges in China are looking to continue their businesses in cryptocurrency-friendly countries. Nineteen chinese companies are reportedly applying for a license to operate in Japan, while others are considering Singapore, Hong Kong, and South Korea. Also read: Japan’s GMO Plans to Sell 7nm Bitcoin Mining Boards Using Token Sale Chinese Exchanges Migrating Abroad Chinese exchanges are reportedly seeking to migrate their operations to other Asian countries that are more cryptocurrency-friendly, following China’s clampdown on crypto trading and initial coin offerings (ICOs). According to Bloomberg: They’re applying for licenses in Japan — solo or via partners — setting up over-the-counter shops in Hong Kong, or laying the groundwork to operate from Singapore and South Korea. Hong Kong-based Lennix Lai, the financial market director for Okex exchange, believes that there is enough demand. He said, “as formerly one of the biggest operators in China, we think we have a good chance of competing globally.” Licenses and Partners in Japan Japan legalized bitcoin as a method of payment in April. As a consequence of this legalization, cryptocurrency exchanges are required to register with the country’s Financial Services Agency (FSA). The agency granted licenses to eleven bitcoin exchanges in Japan for the first time last month. Out of the Chinese exchange seeking to operate in Japan, Bloomberg noted: There’re at least 19 companies applying for a Japanese license. While some Chinese exchanges are applying for a Japanese license, others are looking for local partners. For example, the Hong Kong-based exchange, Binance, is looking for local partners and also considering acquiring an operational exchange, CEO Zhao Changpeng revealed. Beijing-based exchange Bixin has also expressed interest, the news outlet detailed. Mike Kayamori is Head of Quoine, the Singapore-based exchange with a strong presence in Japan. He commented, “we’re talking to almost all of those guys. They’re all desperate now.” He expects to sign a deal with a Chinese partner by the end of this year, the publication noted, and quoted him saying: There’s a lot of Chinese retail people reaching out to us, but we can’t handle it. So if a Chinese partner can handle all of those and they connect to us, that will be much easier. Early this month, ECNC reported that one of Japan’s largest bitcoin exchanges, Coincheck, had received many requests from Chinese companies to list tokens on its exchange following China’s ICO crackdown. “We are receiving hundreds of requests from Chinese startups and startups around the world asking us to list their tokens, after the Chinese government banned ICOs,” Kagayaki Kawabata, International Business Developer at Coincheck told Global Times. While he said Coincheck is careful about listing ICO tokens, he noted that “if Chinese tokens can meet the criteria that exchanges will set, Japan will be a great place to list tokens.” Other Friendly Shores Japan is not the only contender for Chinese exchanges to flee to. Some Chinese investors have “resorted to peer-to-peer trading over messaging apps like Telegram since the …

Plus…Chinese Exchanges Seek Second Chance in Japan and Other More Crypto-Friendly Countries

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