Category Archives: Altcoin
SpectroCoin Announces Altcoin Support for Bitcoin Debit Cards – AllCoinsNews.com (blog)
Starting in March 2017, UK bitcoin service provider SpectroCoin began to extend support to over 41 different cryptocurrencies. Users now have the option of a range of altcoins to fund their SpectroCoin Wallet and bitcoin debit cards. They can also use these supported altcoins to top up their mobile phones, buy gift vouchers or withdraw money using a variety of available methods. The 41 supported cryptocurrencies on SpectroCoin includes the existing bitcoin and DASH options, along with the likes of ethereum, monero, LiteCoin, zCash, augur, and others.
SpectroCoin has made this decision in order to advance its vision of becoming a service provider for a spectrum of alternative cryptocurrencies used for payments. The team behind SpectroCoin is has been working on this for the past three years. The company started offering bitcoin debit cards to make it easier for people to spend cryptocurrency for their daily needs. These cards act as an alternative to standard fiat debit cards and can be used at any ATM or Point of Sale terminals accepting Visa or MasterCard cards across the world. The prepaid debit card option starts at as less than US$ 0.5 with no loading fee.
The bitcoin debit card is currently available in over 120 countries globally. The platform gradually started extending its services to include other cryptocurrencies, starting with DASH. The inclusion of DASH Wallet allowed users to send, receive payments and top-up the prepaid debit cards using DASH. SpectroCoin also offers DASH merchant solutions, allowing shops and businesses to accept DASH payments from customers and receive settlements in relevant fiat currencies (USD, EUR, GBP etc.) over SpectroCoin merchant API and shopping cart plugins.
The addition of new altcoins is a result of the positive response and significant traction gained by the platforms DASH solutions. Users can now fund their SpectroCoin wallets with the supported altcoins and then use it to top-up the debit cards or exchange or withdraw it. SpectroCoin will extend full support to these altcoins including wallets and payment processing solutions, on par with those currently available for bitcoin and DASH.
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SpectroCoin Announces Altcoin Support for Bitcoin Debit Cards - AllCoinsNews.com (blog)
Top 3 Altcoin Pumpers in History – The Merkle
The world of cryptocurrency is filled with people who are looking to gain a financial advantage over others. That is not entirely surprising, considering there is a lot of money to be made. The altcoin industry especially has seen its fair share of pumpers, some of whom are more notorious than others. Always be careful when listening to others for altcoin investment advice.
Although not everyone has heard of Ryan Pumper, this individual makes no bones about what heis trying to achieve. Using the @Pumper_Ryan Twitter handle, he advises people on how they should buy and sell altcoins on the Bittrex exchange. Considering Bittrex can generate quite a lot of trading volume for newer altcoins, it has quickly become the premier place for altcoin daytrading.
It would appear as if Ryan Pumper is no longer active on Twitter these days, as his latest message dates back to August of 2015. That being said, his timeline is filled with quite a few pieces of advice regarding cryptocurrencies. He also runs the PumperPicks website, although it appears very few updated are provided here as well. People who followed Ryan Pumper in the past may have made some good money following his calls, that much is certain.
When Dogecoin was first introduced to the cryptocurrency world, the currency was considered to be a joke. However, Dogecoin caught the interest of an individual going by the name of Wolong, who claimed to manipulate the Dogecoin market and make thousands of bitcoins while doing so. His actions even drew a reaction from former Dogecoin developer Jackson Palmer.
Dogecoin was only one of the famous Wolong currencies, though, as he was also involved in other altcoins going through significant pump-and-dump cycles. Many people believe Wolong is also the person responsible for creating Pandacoin, which ultimately collapsed after a massive pump-and-dump run. To this day, it is estimated Wolong made at least 10,000 bitcoin from his activities, although the total amount may be much higher.
It is impossible to discuss pump and dumps in the cryptocurrency world without coming across the name Fontas. This individual has become somewhat of a household name among altcoin daytraders. Pulling off a successful pump and dump is not an easy feat, though, as it requires both initial capital as well as social engineering skills to trick others into buying as well. The way Fontas allegedly did it was by buying altcoins at a cheap price using different aliases.
He would then announce on his Fontas twitter account about how one coin would be pumped. Since Fontas has a ton of followers, announcements like these will always create some market action. He would then create a large buy order on the day of the pump, which acts as a wall. Once people see this massive buy order, they start to buy said cryptocurrency as they believe it will not break through this buy order anytime soon. As the price goes up, Fontas then unloads his holdings and moves onto the next coin.
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SpectroCoin Announces Altcoin Support for Bitcoin Debit Cards – PR Newswire (press release)
LONDON, March 22, 2017 /PRNewswire/ --Starting March 2017, the leading Bitcoin service providerSpectroCoinextends support to over 41 different cryptocurrencies. Users can now choose from a range of altcoins to load their SpectroCoin Wallet and Bitcoin debit cards. They can even use these supported altcoins to top up their mobile phones, buy gift vouchers or withdraw money using a variety of available methods. The 41 supported cryptocurrencies on SpectroCoin includes the existing Bitcoin and DASH options, along with the likes of Ethereum, Monero, LiteCoin, ZCash, Augur, and others.
The latest announcement takes SpectroCoin one step closer to its vision of becoming a service provider for a spectrum of alternative cryptocurrencies used for payments. The team behind SpectroCoin is consistently working from the past three years to make the company's vision a reality. The company started offeringbitcoin debit cardsto make it easier for people to spend cryptocurrency for their daily needs. These cards act as an alternative to standard fiat debit cards and can be used at any ATM or Point of Sale terminals accepting Visa or MasterCard cards across the world. Currently, SpectroCoin debit cards are the fastest and easiest way to spend the preferred cryptocurrency anywhere. It is also the most inexpensive prepaid debit card option available in the cryptocurrency industry, starting at as less as US$ 0.5 with no loading fee.
Since its inception three years ago, SpectroCoin began creating solutions around Bitcoin, the most widely used cryptocurrency at the time. Met with great success, the Bitcoin debit card is currently available in over 120 countries globally. The platform gradually started extending its services to include other cryptocurrencies, starting with DASH. The inclusion of DASH Wallet allowed users to send, receive payments and top-up the prepaid debit cards using DASH. SpectroCoin also offers DASH merchant solutions, allowing shops and businesses to accept DASH payments from customers and receive settlements in relevant fiat currencies (USD, EUR, GBP and more) over SpectroCoin merchant API and shopping cart plugins.
The addition of new altcoins is a result of the positive response and significant traction gained by the platform's DASH solutions. Users can now fund their SpectroCoin wallets with the supported altcoins and then use it to top-up the debit cards or exchange and withdraw it using one of the many withdrawal methods offered by the company. SpectroCoin will extend full support to these altcoins including wallets and payment processing solutions, on par with those currently available for Bitcoin and DASH.
SpectroCoin will continuously monitor the developments in the cryptocurrency industry and understand the ever-changing requirements of the community to create and deploy new solutions and extend support to new altcoins.
About SpectroCoin
Spectro Finance Ltd is developing innovative solutions for electronic payments. Currently, its portfolio consists of SpectroCoin.com Bitcoin exchange, wallet and payment processor and SpectroCard.com prepaid MasterCard solution for a link between cash and Internet. The SpectroCoin team consist of professionals in IT and Finance sectors with experience from institutions such as Bloomberg LP and Cambridge University.
Learn more about SpectroCoin at https://spectrocoin.com Get SpectroCoin Prepaid Debit Card at https://spectrocoin.com/en/bitcoin-debit-card.html SpectroCoin signup https://spectrocoin.com/en/signup.html SpectroCoin on YouTube-https://www.youtube.com/channel/UC5cWUFTcU7_vWwX1dX2to_Q
Media Contact
Contact Name:Ruta Cizinauskaite Contact Email:info@spectrocoin.com Location:London, United Kingdom
SpectroCoin is the source of this content. Virtual currency is not legal tender, is not backed by the government, and accounts and value balances are not subject to consumer protections. This press release is for informational purposes only. The information does not constitute investment advice or an offer to invest.
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SpectroCoin Announces Altcoin Support for Bitcoin Debit Cards - PR Newswire (press release)
Op-Ed: Will Bitcoin’s High Transaction Fees Open the Door for Altcoin Adoption? – CoinJournal (blog)
Altcoins have long been ridiculed as useless aspects of the bitcoin ecosystem that dont offer much in terms of real value to anyone who uses them. While they often make vague promises about how they are bitcoin with feature X or Y, the number of them that offer any real use cases today approaches zero.
Having said that, the increasingly higher transaction fees on the bitcoin network may have opened the door for a few of them to achieve some sort of purpose in the form of low-value payments. Its unclear how how many people desire this particular use case, but lets take a closer look.
While its clear that some bitcoin users are interested in switching to altcoins for lower-value payments, its unclear how much adoption will take place here. Using bitcoin for small-value payments has mostly been something done by people who were already bitcoin users up to this point, so its unclear if any altcoin will be able to bring new people to the cryptocurrency ecosystem around this use case.
In short, the people who wish to use a cryptocurrency for small-value transactions are mostly driven by ideology than anything else. As early bitcoin adopter and entrepreneur Erik Voorhees explained on Twitter, hes interested in using an altcoin for small-value transactions because he simply refuses to use US dollars for philosophical reasons.
For better or worse, most people are fine with paying back their friend for a beer at the bar via something like Venmo.
Those who like bitcoin as a currency can choose to make small payments via centralized bitcoin banks, such as Coinbase or Xapo, and improvements that lower the amount of third-party trust involved in these sorts of transactions can be implemented with no further alterations to the bitcoin protocol (more on this later).
Lack of liquidity is another issue for altcoins. For example, longtime bitcoin angel investor Roger Ver recently tweeted that he made his first transaction on the Dash network for an amount of around $100,000 worth of Dash. The price collapsed by a third of its initial value in a matter of six hours on the same day Ver made his tweet, which illustrates the volatility risks that come with these sorts of coins.
One of the common responses to the price volatility issues when it comes to bitcoin is that the price volatility is in the upwards direction over the long term. Altcoin proponents will undoubtedly use this argument as well, but the fact that bitcoin may eventually usurp this low-value transaction use case puts this argument into question (again, more on this later).
Network effects are another issue when moving to different cryptocurrencies. The fact of the matter is that every cryptocurrency that isnt bitcoin has roughly zero real-world users. This could obviously change in the future if enough people decide they wish to make small-value transactions on these networks. For example, Coinbase is currently looking into allowing merchants to accept alternative cryptocurrencies.
One last point to make here is that bitcoins digital gold or store of value use case is mostly not threatened by altcoins. The liquidity in bitcoin makes it a preferred store of value, and those who wish to store value in an incorruptible digital bearer asset are willing to pay high fees relative to where bitcoins transaction fees have been in the past. If youre looking to put $10,000 into bitcoin, youll likely be willing to pay $5 or more to bitcoin miners to do so.
Ironically, an altcoins usefulness for low-value payments declines as the exchange rate of that altcoin increases (much like the current case with bitcoin).
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Op-Ed: Will Bitcoin's High Transaction Fees Open the Door for Altcoin Adoption? - CoinJournal (blog)
YoCoin Review: Pump and dump altcoin with recruitment
There is no information on the YoCoin website indicating who owns or runs the business.
An address in Bangkok, Thailand is provided on the YoCoin website. Further research however reveals this address actually belongs to Regus, who sell virtual office space.
As such is appears YoCoin exists in Thailand in name only.
The YoCoin website domain (yocoin.org) was registered on the December 3rd 2015, however the domain registration is set to private.
At the time of publication, Alexa estimate that 30% of traffic to the YoCoin website originates out of India.
As always, if an MLM company is not openly upfront about who is running or owns it, think long and hard about joining and/or handing over any money.
YoCoin has no retailable products or services, with affiliates only able to market YoCoin affiliate membership itself.
Attached to the YoCoin MLM opportunity is the YoCoin cryptocurrency.
YoCoin is a decentralized, peer-to-peer digital currency that enables you to easily send money online.
CoinMarketCap first listed YoCoin (YOC) back inJanuary, 2016. The YoCoin cryptocurrency appears to have precededthe launch of the YoCoin MLM opportunity.
YoCoin currently has a value of 0.00025 BTC (17 cents US).
The YoCoin compensation plan pays affiliates to recruit new YoCoin affiliates.
When a YoCoin afiliate invests, they start to receive YoCoins 30 days after their investment at a rate of 5% of coins invested in per week.
When a YoCoin affiliate recruits another affiliate who invests, they are paid 10% of the invested amount.
Residual recruitment commissions in YoCoin are paid out via a binary compensation structure.
A binary compensation structure places a YoCoin affiliate at the top of a binary team, split into two sides (left and right):
Subsequent levels of the binary team are generated as required, with each new level of the binary team housing twice as many positions as the previous level.
Positions in the binary team are filled via direct and indirect recruitment of new YoCoin affiliates.
In order to qualify for binary commissions, a YoCoin affiliate must recruit two new affiliates.
Each week funds invested by affiliates on both sides of the binary team are tallied up.
YoCoin affiliates are paid 10% of funds invested on the weaker binary side.
How much a YoCoin affiliate can earn in binary commissions each week is capped based on how much theyve invested, as well as their personally recruited affiliates:
Note that only $2000 of an affiliates own investment can be counted towards the above qualification criteria. The rest must be sourced from recruited affiliates.
YoCoin affiliates are paid a 10% matching bonus on binary commissions earned by personally recruited affiliates.
YoCoin place 1% of company-wide invested funds into a Yo Club Benefits pool. This pool is divided between qualified Yo Club affiliates.
To qualify for the Yo Club, a YoCoin affiliate must generate $10,000 for that month on both sides of the binary team. Each month they must also recruit two new affiliates who have each invested $1000 or more.
The second Yo Club benefit is anadditional 10% match on binary commissions paid to personally recruited affiliates.
The Yo Club binary match is paid in YoCoins and only on recruited affiliates who do not qualify as Yo Club affiliatesthemselves.
Finally, Yo Club affiliates also receive residual binary matching commissions, paid out down an additional two levels of recruitment.
The Yo Club binary match is 10% on level 2 and 15% on level 3.
YoCoin charge a 10% withdrawal fee when affiliates convert virtual wallet commissions to actual money.
YoCoin affiliates must reinvest 30% of all commission payouts back into YoCoin.
Affiliate membership with YoCoin free. In order to earn MLM commissions however, either the affiliate or recruited affiliates must invest at least $50.
The more a YoCoin affiliate initially invests (up to $2000) the more they can earn through the YoCoin compensation plan.
The YoCoin concept is born out of the success of the pioneering cryptocurrency, Bitcoin.
Another MLM cryptocurrency riding on the coattails of bitcoin? Who would have guessed
YoCoin combines a pyramid scheme compensation plan with a pump and dump altcoin.
Basically the anonymous owners of YoCoin have been busy mining their cryptocurrency since January or so. Now the plan is to launch an MLM opportunity, through which affiliates buy these coins from them.
The hopeis that the MLM opportunity will generate artificial demand for YoCoin, which in turn means the owners of the company will turn a profit offloading the coins onto YoCoin affiliates.
Naturally purchasing yet another worthless altcoin isnt something that will happen organically, and so you have pyramid style commissions to incentivize YoCoin affiliate recruitment.
Theres no way around affiliates getting paid to recruit new affiliates in YoCoin being pyramid scheme in nature. Securities issues are also raised, with YoCoin affiliate fees quite obviously a speculative investment.
There is no mention of YoCoin having registered with the SEC or a securities regulator on their website. This would mean the YoCoin MLM offering is an unregistered security, whichis another problem.
If regulators dont shut down YoCoin, the cryptocurrency will experience a minor value increase corresponding with YoCoin launch hype and new affiliate recruitment.
YoCoins founders will dump coins on YoCoin affiliates and turn a profit.
With no genuine demand or use for YoCoin outside the MLM opportunity, once affiliate recruitment drops off the value will plummet.
Once again the scenario of affiliates in an MLM cryptocurrency being left with worthless altcoins will play out. YoCoins owners, having already made their money, will wash their hands of any responsibility and claimthe value of the coin is out of their control.
Theyre not wrong. Only with the MLM opportunity having collapsed theres now no demand for YoCoin only an abundant supply.
Meanwhile you as a YoCoin affiliate get to watch your YoCoin value approach zero. YoCoin affiliates who dont earn enough in recruitment commissions to cover their initial YoCoin investment, lose out.
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YoCoin Review: Pump and dump altcoin with recruitment
SpectroCoin Announces Altcoin Support for Bitcoin Debit Cards – Yahoo Finance
LONDON, March 22, 2017 /PRNewswire/ --Starting March 2017, the leading Bitcoin service providerSpectroCoinextends support to over 41 different cryptocurrencies. Users can now choose from a range of altcoins to load their SpectroCoin Wallet and Bitcoin debit cards. They can even use these supported altcoins to top up their mobile phones, buy gift vouchers or withdraw money using a variety of available methods. The 41 supported cryptocurrencies on SpectroCoin includes the existing Bitcoin and DASH options, along with the likes of Ethereum, Monero, LiteCoin, ZCash, Augur, and others.
The latest announcement takes SpectroCoin one step closer to its vision of becoming a service provider for a spectrum of alternative cryptocurrencies used for payments. The team behind SpectroCoin is consistently working from the past three years to make the company's vision a reality. The company started offeringbitcoin debit cardsto make it easier for people to spend cryptocurrency for their daily needs. These cards act as an alternative to standard fiat debit cards and can be used at any ATM or Point of Sale terminals accepting Visa or MasterCard cards across the world. Currently, SpectroCoin debit cards are the fastest and easiest way to spend the preferred cryptocurrency anywhere. It is also the most inexpensive prepaid debit card option available in the cryptocurrency industry, starting at as less as US$ 0.5 with no loading fee.
Since its inception three years ago, SpectroCoin began creating solutions around Bitcoin, the most widely used cryptocurrency at the time. Met with great success, the Bitcoin debit card is currently available in over 120 countries globally. The platform gradually started extending its services to include other cryptocurrencies, starting with DASH. The inclusion of DASH Wallet allowed users to send, receive payments and top-up the prepaid debit cards using DASH. SpectroCoin also offers DASH merchant solutions, allowing shops and businesses to accept DASH payments from customers and receive settlements in relevant fiat currencies (USD, EUR, GBP and more) over SpectroCoin merchant API and shopping cart plugins.
The addition of new altcoins is a result of the positive response and significant traction gained by the platform's DASH solutions. Users can now fund their SpectroCoin wallets with the supported altcoins and then use it to top-up the debit cards or exchange and withdraw it using one of the many withdrawal methods offered by the company. SpectroCoin will extend full support to these altcoins including wallets and payment processing solutions, on par with those currently available for Bitcoin and DASH.
SpectroCoin will continuously monitor the developments in the cryptocurrency industry and understand the ever-changing requirements of the community to create and deploy new solutions and extend support to new altcoins.
About SpectroCoin
Spectro Finance Ltd is developing innovative solutions for electronic payments. Currently, its portfolio consists of SpectroCoin.com Bitcoin exchange, wallet and payment processor and SpectroCard.com prepaid MasterCard solution for a link between cash and Internet. The SpectroCoin team consist of professionals in IT and Finance sectors with experience from institutions such as Bloomberg LP and Cambridge University.
Learn more about SpectroCoin at https://spectrocoin.com Get SpectroCoin Prepaid Debit Card at https://spectrocoin.com/en/bitcoin-debit-card.html SpectroCoin signup https://spectrocoin.com/en/signup.html SpectroCoin on YouTube-https://www.youtube.com/channel/UC5cWUFTcU7_vWwX1dX2to_Q
Media Contact
Contact Name:Ruta Cizinauskaite Contact Email:info@spectrocoin.com Location:London, United Kingdom
SpectroCoin is the source of this content. Virtual currency is not legal tender, is not backed by the government, and accounts and value balances are not subject to consumer protections. This press release is for informational purposes only. The information does not constitute investment advice or an offer to invest.
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SpectroCoin
This content was issued through the press release distribution service at Newswire.com. For more info visit: http://www.newswire.com
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SpectroCoin Announces Altcoin Support for Bitcoin Debit Cards - Yahoo Finance
allcoinsnews.com Bitcoin, Altcoin & Blockchain Tech News
Brief: Melon is down -4.00% on the day, up 104.00% since launch on Kraken. MLN/BTC launched on March 15 2017 with an opening price of 0.01500000. The Melon all
Brief: Dash has set a new all time high of 0.12415680 BTC. Dash is down -2.68% on the day, up 60.64% on the week and up 418.60% on the
IBM InterConnect has announced the new release of IBM Blockchain, an enterprise-ready blockchain service based on the Linux Foundations Hyperledger Fabric version 1.0. The service enables developers to build
IBM InterConnect and identity and authentication provider SecureKey Technologies have announced they are working together to enable a new digital identity and attribute sharing network based on IBM Blockchain.
Brief: Ethereum has set a new all time high and is down -16.73% on the day, up 81.74% on the week and up 168.10% on the month on a
Bloq, developer of enterprise-grade blockchain solutions, has launched BloqLabs to expand its ongoing sponsorship and support of critical open source projects in the bitcoin and blockchain ecosystems. BloqLabs launches
The Chamber of Digital Commerce, the global trade association dedicated to promoting the understanding, acceptance and use of digital assets and blockchain technology, has formed the Blockchain Intellectual Property
Blockchain Capital, the venture capital firm investing in blockchain technology companies, has announced its intention to raise its third fund via a combination of a traditional limited partnership called
ChronoBank have announced its public Beta release following the ChronoWallet and ChronoMint developing most of the features detailed in its whitepaper. It will be deployed to the upcoming Kovan
Global innovation platform Plug and Play has announced it is launching their newest program, Plug and Play Supply Chain & Logistics. In partnership with founding partners Maersk and Ericsson,
The Blockchain Collaborative Consortium (BCCC) has announced that it has expanded from its initial 34 founding member companies to the current 109 companies and organizations. A decision was also
BTL GROUP LTD., the company which offers blockchain solutions to businesses across industries, has announced the addition of Jon Downing to its advisory board. Over the last 25 years,
Evolve Markets, a privately-owned IBC in Saint Vincent and the Grenadines, is offering bitcoin community members a chance to trade a variety of traditional assets including Forex, Commodities, Indices
TIME, the Ethereum token representing a stake in ChronoBank, has been added to several exchanges, with other exchanges lined up in the future. ChronoBank is a blockchain-based project that
Align Commerce, the global payments platform for small businesses, recently announced it has closed a $24 million Series B funding round and renamed the company to Veem. The investment,
Brief: Bitcoin is up 0.01% on the day, down -2.80% on the week and up 26.43% on the month on a last price of $1244.12. BTC/USD is trading between
Brief: Ethereum is up 22.64% on the day, up 48.23% on the week and up 101.29% on the month on a last price of 0.02291000. ETH/BTC is trading between
Brief: Dash is up 36.25% on the day, up 78.89% on the week and up 284.15% on the month on a last price of 0.06240000. DASH/BTC is trading between
Earlier this year, E-Tao, an application for the sale of new/used goods was launched on Chinese and Indonesian markets with the ability to pay for goods using various cryptocurrenies.
Blockchain ecosystem, ARK has announced that the launch of its mainnet the ARK blockchain with its Delegated Proof of Stake (DPoS) consensus based cryptotoken is set for
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Several Exchanges Face Connectivity Issues During Bitcoin and Altcoin Trading Craze – newsBTC
For people looking to buy and sell altcoins, centralized exchanges are the only option right now.
Cryptocurrency exchanges are vital to the success of bitcoin and altcoins. Consumers and investors rely on centralized platforms to diversify their cryptocurrency portfolio. However, it appears quite a few of these platforms have issues remaining online when trading intensifies. Poloniex and Coinbase have had brief outages these past few hours, indicating the infrastructure cannot cope with the demand.
It is not the first time cryptocurrency exchanges deal with issues during intensive trading sprees. Any platform dealing with popular cryptocurrencies has seen an increasing amount of trading volume these past few days. Unfortunately, this also means some services will start to slow down or even briefly go offline in the process. Although issues like these need to be avoided at all costs, it is pretty much inevitable for centralized platforms.
Both Poloniex and Coinbase have had brief issues over the past 12 hours. Poloniex is the worlds largest altcoin exchange, generating massive amounts of trading volume. With thousands of users placing orders at the same time, the server gets overloaded every now and then. Thankfully, these issues never last long, and it appears Poloniex is up and running once again.
Coinbase is another exchange suffering from similar issues right now. It is unclear what is causing the brief outages every so often. For now, Coinbase seems to be operating just fine, although there are some complaint son Reddit. Luckily, it appears no funds have been lost in the process and all existing trades have been executed properly.
All of these issues highlight a big problem in the cryptocurrency industry, though. Centralized exchanges continue to pose a risk for traders and investors. Moreover, users store a lot of funds on exchanges, even though they really shouldnt. If an exchange goes offline for an extended period of time, users will lose access to their money as well. So far, that has not happened for either Coinbase or Poloniex, yet it remains a risk to take into account.
For people looking to buy and sell altcoins, centralized exchanges are the only option right now. Very few ATMs support any currency other than bitcoin. Peer-to-peer trading platforms have yet to warm up to altcoin trading as well. This is good news for centralized exchanges, as they make a lot of money from trading fees. However, they also need to ensure their service remains up and running at all times.
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Several Exchanges Face Connectivity Issues During Bitcoin and Altcoin Trading Craze - newsBTC
PoSWallet Offers Online Altcoin Staking and Exchange Services – newsBTC
Moreover, PoSWallet provides users with an exchange platform, which is of great value.
It can be quite challenging to the find the right cryptocurrency wallet for your specific needs. PoSWallet is well worth seeking out, as the platform has a lot to offer. Not only is PoSWallet the worlds leading online staking wallet, but the company also offers an exchange platform. It is evident PoSWallet offers plenty of features, which makes it well worth checking out.
There is a lot more to PoSWallet than meets the eye. First of all, there is the online staking wallet aspect to take note of. Altcoin enthusiasts will find this service rather attractive, as PoSWallet provides an alternative way to earn proof-of-stake rewards. Considering how the platform supports 108 different coins, the platform offers something for everyone.
Additionally, PoSWallet offers faucets for their supported coins. The platform also keeps track of which faucets have enough liquidity to let users receive a payout at any given time. Users can also donate some of their own coins to the faucets to ensure other users can claim small rewards. An interesting take on things, as it allows users to remain within the PoSWallet ecosystem at all times.
Moreover, PoSWallet provides users with an exchange platform, which is of great value. To be more specific, users who were part of the PoSWallet ICO will have received POSW tokens in exchange for their investment. These tokens can be directly traded against bitcoin on the built-in exchange platform. Once again, a very nifty feature that will be well received by most users. There is no need to rely on external exchanges to trade this token, which is a very nice addition.
It is worth noting the PoSWCoin can be traded on Livecoin and Cryptopia as well. Users who buy this token will be eligible for monthly dividends generated by the PoSWallet platform. It is worth noting users can earn dividends along with the stake rewards, as they are not mutually exclusive. PoSWCoin stakes at a 1% stake rate, yet the total amount of coins is kept at 250,000 at all times. Funds held by the developer will be burned at the same rate as stake rewards are generated.
While most users will make use of PoSWallet to stake coins online, the other features are well worth checking out as well. Being able to support your favorite coin and earn proof-of-stake rewards without having to keep the wallet running on your computer at all times is a big plus. Claiming funds from one of the many faucets will allow PoSWallet users to earn some extra funds, as those coins can be staked as well. All things considered, this is a very powerful ecosystem that will elevate the altcoin sector to new heights.
Last but not least, PoSWallet is hosting a competition on ICOTimeline to promote awareness of this project. A total of 10 winners will be eligible for rewards between now and March 31st. Participating requires some social activity, as can be seen on the promotionpage. A total of 200,000 POSWCoins are at stake to incentivize users to raise awareness about this online wallet staking platform.
Header image courtesy of PoSWallet
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PoSWallet Offers Online Altcoin Staking and Exchange Services - newsBTC
Bitcoin Dominance Index Crashes Below 80% as Ethereum and Dash Rise – CoinJournal (blog)
Everyone has been watching the bitcoin price in the aftermath of the SECs decision to not allow the creation of a bitcoin ETF, but most of the real action has been taking place in the altcoin market. While the Bitcoin Dominance Index (BDI) was closing in on 90 percent at the start of the new year, it briefly crashed below the 80 percent mark on Monday.
The BDI is bitcoins share of the overall cryptocurrency market. So far this year, the BDI has mostly held steady above the 85 percent mark. This recent downtrend has really only picked up steam over the past few days.
The two biggest movers in the altcoin market in the month of March have been Ethereum (ETH) and Dash. ETH is up roughly 65 percent in terms of bitcoin since the first of March, while Dash is up more than 120 percent over the same timeframe.
At current prices, ETH needs another 46 percent increase to reach its bitcoin-denominated all-time high from before a flaw in The DAO was exploited. Ethereum Classic (ETC), which appeared in the aftermath of the hard fork related to The DAO, has dropped to all-time lows when compared to ETH. A hard cap on the supply of ETC was recently announced, and Grayscale Investments, who are behind the Bitcoin Investment Trust, are working on a similar investment vehicle for ETC.
Its unclear what has led to the recent price rises in ETH and Dash. One possible culprit is the relatively high transaction fees on the bitcoin network; however, its unclear whether this will open the door for any meaningful altcoin adoption.
It should be noted that much of the speculation in the altcoin market could be due to the increase in the bitcoin exchange rate in terms of US dollars. Altcoins also reached high valuations the first time bitcoin crossed the $1,000 mark back in late 2013. Back then, it was Peercoin and Mastercoin (now Omni) reaching market caps of over $100 million. Litecoin also peaked at a market cap of over $1 billion.
Monero was the main bright spot in the altcoin market last year after gaining acceptance on Alphabay, but the privacy-focused altcoin has been mostly down in 2017. It only recently regained its price level from the beginning of the year over the past few days.
If altcoins were going to be used for small value payments due to bitcoins high fees, then Litecoin would be another obvious option. Ironically, the silver to bitcoins gold is down around 25 percent against bitcoin year-to-date.
Its difficult to predict what will happen next in the altcoin market. These small markets (relative to bitcoin) are almost entirely speculative, and its hard to find any rhyme or reason behind the price movements.
Some will point to bitcoins high transaction fees as the driving force behind the recent trends in the altcoin market, but more evidence needs to be gathered before this can be viewed as fact. As Bitpay CEO Stephen Pair recently wrote, users may decide to stick with centralized bitcoin institutions, which may become more decentralized with future developments, rather than switch to an altcoin.
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Bitcoin Dominance Index Crashes Below 80% as Ethereum and Dash Rise - CoinJournal (blog)