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In this week’s daily editions of Bitcoin in Brief we reported about Coinbase opening the floodgates for institutional money, the new crypto law in Malta, and a move by Bittrex to invade the European market. We also covered, in this week’s most commented-on article, Nobel laureate economist Paul Krugman’s trolling of XRP and BTC supporters.
Also Read: No Insider Trading, Market Manipulation and Misleading Ads – Malta’s New Crypto Law
From the sublime to the smutty, today’s Bitcoin in Brief runs the full gamut of emotions and stories. These include Bittrex’s new foray into Europe, EOS’ quest to offload its billion-dollar warchest and Jackson Palmer’s viral new project, 50 Shades of Blockchain.
Also read: Switzerland Considers Granting Crypto Businesses Access to Banking Services
It breaks my heart to leave my favorite exchange, but all good things must come to an end as Bittrex is wading right into regulated waters.
[Note: This is an op-ed]
Bittrex, you’re such a great exchange as you’ve never given me any real problems. Sure, your withdrawal limits (without ID verification) are small. Yeah, your fees were a bit high. But you’ve always been there for me when I needed you. I even like your new redesign, and I especially enjoyed our night mode together.
Seattle-based cryptocurrency exchange Bittrex Inc. has established a formal agreement with Signature Bank in New York to allow corporate clients in specific states to purchase virtual tokens using USD. The move is designed to increase the amount of institutional capital making its way through the crypto space.
Chief executive officer of Bittrex Bill Shihara says the exchange has been working on this partnership for months. “It’s been a long path,” he commented. “It’s not just about banks being able to trust Bittrex; it’s about banks being able to trust crypto in general, and I think it’s really showing that crypto is turning the corner in terms of mainstream acceptance.”
Bittrex has finally introduced fiat currency support. The US exchange, which was established in 2013, subsisted with tether as its USD surrogate until recently, before adding another stablecoin, TrueUSD, a couple of months ago. Around the same time, its CEO Bill Shihara revealed that the platform would be adding USD pairs and today they went live for corporate clients.
Also read: Weiss Ratings Publishes Complete List of 93 Cryptocurrency Ratings
Bittrex, a U.S.-based cryptocurrency exchange, has issued a trading pair between tether (USDT) and TrueUSD (TUSD), two stable tokens pegged to the U.S. dollar. While tether is issued by Tether, TrueUSD is issued by TrustToken.
Unlike other cryptocurrencies, stable tokens are pegged to the value of traditional money. In this case, tether and TrueUSD are both pegged to the U.S. dollar, so that one token is worth one dollar.
TrustToken has launched trading for TrueUSD, “the first independently verified asset-backed stablecoin on the market that fixes its value to the U.S. Dollar.” TrueUSD (TUSD) is live on the cryptocurrency exchange Bittrex.
“TrustToken is proud to launch TrueUSD so that traders can easily and quickly trade into a stablecoin that is 100 percent USD collateralized and independently verified by third-party accountants,” said Danny An, co-founder and CEO of TrustToken. “The market has demonstrated that there is strong demand for a trustworthy trading pair between cryptocurrencies and U.S. Dollars. TrueUSD’s presence on Bittrex meets that need.”
The Bittrex exchange is heading in a rather interesting direction. While the company is looking to make a positive impact, its updated terms of service will undoubtedly raise a lot of questions. More specifically, prohibiting customers in sanction-ridden countries from using this platform sets a dangerous precedent.
In the past year or so, things have evolved in an interesting direction for the Bittrex exchange. More specifically, the company made it clear that users who had not verified their accounts would have lower withdrawal limits. Although that change was communicated well in advance, the company still faced a lot of criticism because of the decision. It is evident this change in policy was a positive one, although a lot of users did not see it that way.
Concerns from Russian traders that they may be unable to access Bittrex once the exchange’s new terms of service come into effect this month appear to have been alleviated. Starting March 9th, the exchange will formally block residents of North Korea, Iran, the Crimean region, Syria, and Cuba from accessing its trading services.
Also Read: The Next Generation of Politicians Will Be Crypto’s Biggest Advocates
Last month, Las Vegas-based cryptocurrency exchange, Bittrex, published its new terms of service, which are expected to come into effect on the 9th of March.
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On today’s show:
The only thing people seem to want to know about right now is the market prices so let’s dedicate today to that
If you do decide to go shopping for cryptos during these price declines may I recommend Binance, probably my favourite exchange right now.
My referral link is: https://www.binance.com/?ref=10890655 but as ever I do not recommend storing your crypto on any exchange so bear that in mind.
The post Bittrex Review – One Critical Issue You Need to Know About appeared first on 99 Bitcoins.
Bittrex is a US cryptocurrency exchange that has grown in popularity among crypto traders since launching its operations in December 2014. Its steady growth has made it one of the most preferred altcoin exchanges on the market. Much of Bittrex’s success is the result of its founding team of experienced security professionals, which is dedicated to […]
**On today’s episode of The Cryptoverse:**
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– Bittrex are randomly closing exchange accounts
– 1 GB Bitcoin blocks mined by big blockers
– I list a few movers and shakers in the crypto markets
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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.
When it comes to cryptocurrency exchanges, there is one constant to be found : all altcoins have to be traded against either Bitcoin or Litecoin. Exchanges such as Cryptsy and Bittrex have been experimenting with additional trading markets in the form of Blackcoin and Primecoin, but these endeavours have not lead to any major successes just yet. EmpoEx, a recently launched digital currency exchange, is looking to open up an additional trading market in the form of Viacoin. On the other hand, some coins will be facing delisting , so let’s look at those as well.
While I am waiting for the Bitcoin Bowl broadcast to begin on ESPN, I might as well write some more articles tonight. The Noocoin trading market on Bittrex will open up soon, as their ICO/crowdfunding campaign has ended three days ago. The pre-order deposit system on the NooHack website has gone live as well in the mean time, so let’s take a look at that as well!
When visiting the NooHack website, you are presented with their variety of nootropic products which can all be pre-ordered as of right now. Once you add your product(s) to your shopping cart, and hit the Checkout button, we get to the important bit: the payments page.
Over the past few days, we have written several articles about NooCoin, a new digital currency which can be used to purchase nootropics through their NooHack platform. As the ICO/crowdfunding has come to a close, we can now report the minimum required amount has been reached by quite a margin. Let’s do some number crunching and take a look at what is to come.
As seems to be a trend with most ICOs or crowdfunding campaigns lately, a lot of funds has been invested in the final hours. Even though things were looking quite grim a few hours before the ICO was to end, a total of 122 Bitcoin has been raised, out of a maximum of 250 BTC.
Ever since the previous update was posted little over a month ago, things have gone awfully quiet in the world of Utilitycoin. In fact, things were getting so dire, UTIL is facing a potential delisting from the Bittrex exchange due to insufficient trading volume over the past weeks. A new developer is currently at the helm, in order to prove the code is still being worked on.
The original Ultilitycoin thread on BitcoinTalk has seen several tumbleweeds pass by in the past fe weeks, and there is very little to no progress to show. As is the case with digital currencies, this causes a lot of unrest among the community, and leads to potential exchange delisting as no one is trading any UTIL.
For our final article of the day, I want to bring our loyal readers an update on the revival of CryptCoin. As we mentioned in this article, a new team is in charge of not just restoring confidence in this altcoin, but also bringing new features to the table. In order to do so, they have attracted a new developer who will be working on the project.
The new addition to the CRYPT team is a significant name, as is it none other than Zach Holmes! For those of you who are unaware of who Zach Holmes is, he is the developer of zTrader, a cryptocurrency trading application for the Android platform.
The OPAL cryptocurrency keeps making headlines as of late, because of their file sharing/storing platform called OpalDrive, and the fact they have been added to SuperNET. Furthermore, the team tries to keep taking things to the next level when it comes to offering people a way to purchase the coins. Paypal is one of the options being looked at right now.
While there are quite a few exchanges listing the OPAL, there is a growing interest from investors who are not usually involved in digital currency. Therefore, a new solution has to be found in order to gain more mainstream attention to Opal.
It has been a while since we last saw an important announcement from the CAIx team, and as a result, the price has gone down by quite a bit. Of course, the MintPal fiasco didn’t help matters much either, so there’s that. There is some good news though, as the long awaited KnC Titan ASIC miner has finally been delivered!
When the CAIX team announced their Profit Sharing Program with the world, a lot of investors were over the moon about the potential profit margins coming to CAIx. After all, the original plan was to receive three KnC Titan ASIC miners, all of which would be pointed to the CAIX multipool, in order to create buy pressure on the exchanges.
