Another digital asset platform has received approval to do business in New York.
Bitstamp, one of the largest crypto exchange platforms in Europe, has been granted a virtual currency license from the New York State Department of Financial Services (NYSDFS). The exchange became the 19th firm approved to offer crypto-based services in the world's financial center.
The regulator announced in a press release published on April 9, 2019, that it had granted Bitstamp full authorization to run its digital currency operations in New York. Bitstamp applied for BitLicense through its U.S. subsidiary.
New York State’s financial regulator has ordered Bittrex to cease operating in the state after rejecting its application for a Bitlicense. Multiple deficiencies were cited, some of which Bittrex immediately disputed. Meanwhile, Bitstamp has been green-lighted to offer the trading of five cryptocurrencies in the state.
One Approval, One Rejection
The New York State Department of Financial Services (NYDFS) approved one crypto exchange for a Bitlicense and then rejected another the following day. The regulator announced Wednesday that it has denied “the applications of Bittrex Inc. to engage in virtual currency business and money transmission activity in New York.”
Luxembourg-based crypto exchange Bitstamp announced Tuesday that it has become the latest company to gain a coveted BitLicense from the New York State Department of Financial Services. LICENSED: Excited to announce that we’ve obtained a BitLicense! Paving the way to continue ramping up our presence in the States. Read more: https://t.co/O4OTTifl5X pic.twitter.com/HWos4KqCs1 — Bitstamp (@Bitstamp) April […]
Luxembourg-based crypto exchange Bitstamp has released a new mobile trading app for Android and iOS devices. TRADE ON THE GO: Introducing the new Bitstamp app. Diverse order types and real-time charts at your fingertips whenever the action hits. 📱⚙️ Read more: https://t.co/VXZdHW999M #crypto #tradingapp pic.twitter.com/UaZy9U1MzE — Bitstamp (@Bitstamp) January 31, 2019 According to the announcement, the new […]
Cryptocurrency exchange Bitstamp has partnered with a Swiss bank to allow the bank’s customers to fund their dollar-denominated accounts with BTC as well as withdraw funds in the cryptocurrency. Deposited coins are converted to USD. Withdrawals are converted to BTC and transferred to the crypto wallets linked to client accounts.
Bitstamp announced on Friday that it has “partnered with Dukascopy Bank, one of the leading Swiss online banks, to enable crypto funding on their platform.” The exchange elaborated:
Crypto exchange Bitstamp is upgrading its tech arsenal to better identify suspicious activity and market manipulation.
Cinnober, which was acquired by Nasdaq in September, has signed on to help Luxembourg-based Bitstamp, a crypto exchange with many millions of trades and years to its record. Bitstamp’s matching system will reportedly increase 1,250x, and its overall throughput will increase by 400x, according to the exchange’s estimates. Bitstamp will be replacing its own technology
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Bitstamp has confirmed that it has been acquired by a European subsidiary of a South Korean corporation. Nejc Kodrič will remain the CEO of the exchange. The Korean group also owns gaming giant Nexon and Korbit, the country’s fourth largest crypto exchange.
The oldest remaining and largest cryptocurrency exchange in Europe, Bitstamp, announced on Monday that it has been acquired by Belgium-based investment company NXMH, a subsidiary of South Korea-based NXC Corp.
In a blog post, Bitstamp CEO Nejc Kodrič wrote:
In a statement to customers, Luxembourg-based cryptocurrency exchange Bitstamp announced its acquisition by Belgium private equity firm NXMH Holdings, whose parent company NXC also owns South Korean crypto exchange Korbit. The all-cash deal, which was signed by Bitstamp founder Nejc Kodrič on October 25, 2018, was announced today, October 29, 2018. NXMH has around 2 billion euros in assets under management and invests in digital technologies.
Bitstamp, one of the oldest and largest bitcoin exchanges, has been acquired by Belgian investment firm NXMH. Fortune reports that the Brussels-based NXMH purchased an 80 percent ownership stake in the Luxembourg-based cryptocurrency exchange, which launched in 2011, shortly after the first “bitcoin bubble” drove the bitcoin price up as high as $ 31 and then
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In this guide, we explore Bitstamp and its journey from humble beginnings seven years ago to becoming one of the most popular cryptocurrency exchanges in the world. We’ll also look at the various features of its platform, chiefly trading and acquiring cryptocurrency.
Operating since: August 2011
Location: London, Luxembourg, Slovenia, U.S.
Fiat pairs supported: USD, EUR
Notable cryptocurrencies supported: BTC, ETH, LTC, BCH, XRP
Countries served: Worldwide
Account verification: Proof of identity and address
Funding options: SEPA bank transfer, cryptocurrency, debit/credit card, international bank transfer, AstroPay
Withdrawal options: SEPA bank transfer, cryptocurrency, gold, international bank transfer
Fee structure: Scaled at various levels from 0.25 percent for under $ 20,000, to 0.10 percent for over $ 20 million.
Bitstamp CEO Nejc Kodrič has sought to distance his platform from Coinbase’s technical problems as exchanges worldwide feel the strain of mass adoption.
Bitstamp Prioritizes ‘Good Communication’
In a message to users Thursday, Kodrič sought to reassure traders that despite “lengthy delays” and “satisfaction levels plummeting,” Bitstamp would work to resolve capacity issues.
“…The best way to attend to doubts and fears is by providing good communication and constant updates, which is why I want to address you directly to explain why these delays are happening and how we will overcome them,” he stated.
The post Bitstamp Review: Is It the Cheapest Exchange for Buying Bitcoin? appeared first on 99 Bitcoins.
Bitstamp is one of the oldest and most respected cryptocurrency exchange platforms. It’s been in operation since 2011. The exchange is best suited to intermediate and experienced cryptocurrency users who need to trade Bitcoin, altcoins, and fiat currencies. Bitstamp looks to offer users a low-fee way to exchange digital currencies in large amounts. It’s particularly […]
Story – Tether Official Update
They make it clear that no Tether users lost any money here. The m that was stolen was taken from the company treasury after someone hacked into the hot wallet.
They say here that they are confident they have found the hole in their system that was used to steal the coins and are upgrading their systems now.
With regards to their solvency they say another audit is underway by Friedman LLP and while it’s taking longer than they’d like, this accounting firm has issued an interim report showing Tether has enough money to back the Tethers they have issued.
One of the most worrying aspects of the BitLicense regulatory framework is the exodus of Bitcoin companies in the New York State area. Over the past few weeks, it has become quite clear that companies deciding to be compliant with BitLicense might face some serious backlash from its users. For those of you who are wondering which companies are actively pursuing a BitLicense, the following short list will give you an idea.
Bitcoin regulation and more specifically the BitLicense debacle, will be making headlines for many more weeks to come. As the BitLicense application deadline is almost upon us, companies are forced to either apply or halt their services in the state of New York. Several companies have decided on the latter option as very few BitLicense applications are coming in. That being said, it looks like Coinbase, just like Bitstamp, will be applying for a BitLicense.
BitLicense is the first proper form of Bitcoin regulation in the United States, even though most Bitcoin companies do not agree with the proposed requirements. Whereas several Bitcoin exchanges are leaving the New York state area, Bitstamp has announced they will, in fact, be applying for a BitLicense in order to comply with current regulations.
BitLicense Causes Lots of Controversy
Bitcoin regulation is still an important aspect for digital currency to be recognized as a legitimate form of digital money. Yet at the same type, the first revisions of Bitcoin regulation are quite harsh, especially as far as BitLicense is concerned. Applying for a license is expensive, and there is a thorough process every company has to go through.
Buying Bitcoin has become increasingly easier in the past few years, with so many exchange platforms and Bitcoin ATMs popping up all over the world. That being said, buying Bitcoin remains one of the most difficult hurdles to overcome for novice users. Plus, verification procedures are not making matters any easier.
Buying Bitcoin – What Do I Need?
Before you can start buying Bitcoin, there are a handful of things you will need. First of all, you will need to install a Bitcoin client, either on your computer or mobile device. The installation procedures are very straightforward and self-explanatory. Once you have a Bitcoin client installed on your preferred device, a new wallet address will be generated on your behalf. This address is of great importance, as this is where your future Bitcoins will be sent to.