Indian Bitconnect Promoter on the Run After Third Crypto Scam

                                    

A scammer who solicits investments with the lure of rich returns is on the run in India.

By CCN: Another cryptocurrency scam, same fraudster. Police in India’s city of Surat have implicated infamous BitConnect promoter Divyesh Darji in yet another cryptocurrency scam. According to The Times of India, Darji was involved in promoting a cryptocurrency known as Regal Coin to investors by promising them astronomical returns. Darji who was arrested last year in August for his role in the BitConnect scam has been facing trial. However, he is currently on the run after being released on bail. Per India’s Crime Investigation Department (CID), Darji promised investors returns of up to 5,000 percent if they put their money in Regal Coin. Specifically, Darji promoted the cryptocurrency as a superior investment compared to Bitcoin as payouts would start within 99 days. Investors would also earn extra money from recruiting other investors,

according to the CID:

Darji had told his investors that they needed to stay invested just for 99 days. He also promised to pay them returns on their principal according to profits on robotic trading, besides 1% to 1.6% referral bonuses every 11 days.

Prolific fraudster: two more crypto scams since bitconnect

It is understood that Darji was working in concert with some family members as well as aides. The daughter, Purohit, has been arrested. Some of the victims who have filed police reports lost between Rs 10.50 lakh ($15,000) and Rs 17.50 lakh ($25,000). Besides BitConnect and now Regal Coin, Darji has also been implicated in another cryptocurrency scam involving the Dekado coin. This emerged after a victim who lost Rs 48 lakh (approximately $70,000) filed a report with the police in January. Darji implicated in yet another scam | Source: TwitterThe Dekado coin scam promised investors returns of between 42 – 72 percent within a period of six months. And just like with other cryptocurrency scams Darji has been involved in, recruiters were also awarded referral bonuses.

What Darji’s scams have in common

While the cryptocurrency scams that Darji has been implicated in bear different names, they all follow the same script. This includes the incentives offered to lure investors (high and unrealistic returns) and methods of recruitment (referral bonuses). Additionally, while Darji is allegedly guilty of defrauding Indian residents, the companies behind the scams have all been registered abroad.After words, numbers are my other love… mostly when they are going up and they have nothing to do with taxes or expenses. That makes green my favorite color!

Article Produced By
Mark Emem

After words, numbers are my other love… mostly when they are going up and they have nothing to do with taxes or expenses. That makes green my favorite color!

https://www.ccn.com/indias-bitconnect-promoter-third-crypto-scam

David https://markethive.com/david-ogden

French Gov’t Minister Open to Enabling Crypto Donations for Notre Dame

France’s Minister of State for the Digital Sector, Cédric O,

has said he is open to cooperating with cryptocurrency platforms to enable crypto donations for the reconstruction of the Notre Dame cathedral. The news was reported by Bloomberg on April 17. The medieval cathedral suffered a blaze on April 15 that nearly destroyed the world-renowned landmark. Within just two days, donations for the monument’s reconstruction are reportedly approaching 900 million euros (over $1 billion). Cédric O — whose ministry works under the aegis of France’s Minister of Economy and Finance, Bruno Le Maire — noted that the government’s newly-launched website for Notre Dame donations was created extremely quickly and does not as of yet support contributions in cryptocurrencies.

The official site currently links to four approved organizations that are collecting donations for the reconstruction, but Cédric O stressed the government is “open to discussing with others” to help drive the fundraising efforts. The minister said the same conditions would apply to crypto donations as those for fiat currencies — organizations must not charge commissions, data should be collected for tax deductions and the funds should ultimately be routed via one of the four approved organizations.

Major global crypto exchange Binance also launched its own crypto donation program to support reconstruction of the cathedral this week, as reported. The new donation channel is hosted on Binance’s charity platform, which was launched as an initiative of the The Blockchain Charity Foundation (BCF). Earlier this week, Bruno Le Maire affirmed that blockchain technology is a priority for his country’s government. He highlighted the crypto and blockchain regulatory progress heralded by the PACTE Act, which was passed by the French National Assembly earlier this month.

Article Produced By
Erica Borges

https://cryptobible.io/french-govt-minister-open-enabling-crypto-donations-notre-dame/

David https://markethive.com/david-ogden

David https://markethive.com/david-ogden

Top Banks Are Building a Crypto Settlement System, Showing More Mixed Signals On Blockchain Support

The banking industry, now well aware of blockchain’s revolutionary potential,

continues to explore a range of options for integrating the technology into their present operating processes. Although there is no doubt that cryptocurrency poses a threat to their business models, there are also very real opportunities to use it for their own benefit. Nevertheless, the extent to which they are willing to embrace permissionless, trustless platforms remains unclear. Simply put, they respect blockchain’s potential, yet are still trying to create the means to maintain control over how it is used within their own ecosystems.

Reuters has reported that several large international banks are creating a blockchain-based currency to aid in transaction settlement. These banks include UBS, Santander, Credit Suisse, and Barclay’s. They have invested USD $50 million in the project, which will be run by a new entity named “Fnality.” An anonymous spokesperson for the banks has stated that the research and development phase of the venture is coming to an end, thus indicating that the platform could soon be deployed. The coin these banks will create is expected to be a stablecoin, likely pegged to a trusted reserve currency such as the U.S. Dollar or the Euro. It will be used as a digital bridge asset between various fiats. It will probably not be made available on the open market. This architecture is similar to Ripple’s publicly available xRapid, and IBM’s Blockchain World Wire, which uses Stellar Lumens.

Blockchain’s ability to quickly and efficiently move assets across borders is one of its most remarkable features, and banks are wise to embrace this use case. Nevertheless, by design, distributed ledger technology is not meant to be controlled by central entities. Although this new coin may succeed, it is an obvious attempt by these banks to create a platform that can serve the same function as those offered by Ripple and IBM, yet without the reliance on permissionless blockchain networks.

In a sense, this new platform reflects the dilemma that banks are in over the growth and adoption of decentralized cryptocurrency. It is no secret that they overwhelming dislike it, yet at the same time they are forced to recognize that blockchain assets are now firmly entrenched within the global economy, and will no doubt grow much more significant in the coming years. In short, there is no avoiding the blockchain revolution, yet banks are having a very difficult time finding a way to incorporate the technology into their existing business models. Trying to create hybrid, pseudo-cryptocurrencies that they control, as evidenced by this new project, is their present response.

Even if banks want to embrace the crypto revolution, doing so will be very difficult. They are legally bound by a wide range of rules that are largely incompatible with decentralized ledger frameworks. These include tax reporting, know-your-customer, and anti-money laundering regulations. Attempting to fit open and permissionless blockchain assets into a system with such requirements will be difficult, if not impossible, to achieve.

It is still far to early to understand the full impact cryptocurrency will have on the present financial system, yet banks can no longer ignore the fact that changes are taking place. What is certain is that in order to benefit from blockchain technology, banks should not send mixed signals over its use. Whereas it is true that crypto renders much of their services obsolete, it also creates new opportunities to become more efficient and create new business offerings.

Article Produced By
Trevor Smith

https://www.crypto-news.net/top-banks-are-building-a-crypto-settlement-system-showing-more-mixed-signals-on-blockchain-support/

David https://markethive.com/david-ogden

Best Cryptocurrency Passive Income Programs

The emergence of cryptocurrencies has ushered in new ways to earn extra money.

You can earn money as a trader or even through mining. However, passive cryptocurrency income is emerging as the perfect way to supplement your monthly income. To help you earn passive income, we have several programs that do the work for you. Generally, passive income happens when you invest your money and time. As the investment grows you will generate passive income. In this guide, we look at the best cryptocurrency passive income programs.

HODL Finance

HODL Finance is a European digital lending firm that issues loans backed by cryptocurrency and other digital assets. Apart from loans, HODL Finance allows users to passively earn extra income by depositing digital assets and earn interest.  To get started, HODL Finance will require you to select the stablecoin you would like to support. The platform has listed USDT and USDC with an option for other digital assets.

You will then provide the value of the stablecoin you would like to deposit, the amount and the period in months you would like to deposit the coins. The rates includes 3 months for 4% annual interest, 6 months for 6.5%, 9 months for 6.5% , 12 months for 7% and 18 months for 7.5%. All the interest is earned on a yearly basis. In the final stage, you will provide your name, country of residence and email address. The HODL team will then get in touch with if they have accepted your offer. Note that the company does not sell, buy or exchange cryptocurrency.  This is a perfect source of passive income for individuals who are not willing to sell their digital assets over a long term period.

Kucoin Shares

KuCoin shares (KCS) is a product of KuCoin cryptocurrency exchange. KuCoin is among the leading cryptocurrency exchanges with a good reputation. The exchange allows holders of KCS to profit from the success of the exchange. The more shares you hold the more the dividends you receive. By the time of writing this article, one KuCoin share was selling at $1.07. The easiest way to make a passive income with KuCoin Shares is to buy the shares and hold. You may end up benefitting in the event the token price rises, especially during the bear market.

On the KuCoin Shares website, you will get a calculator to help you determine the profit you will earn from holding KuCoin shares. Before buying the shares, you will have to be a member of the KuCoin exchange. You can buy the shares by first depositing funds into your account. You can deposit cryptos or fiat through a credit card. To buy KCS, visit the exchange page, place a limit order by entering the price you are willing to pay per KCS token. You will then keep KCS in your KuCoin account. The KuCoin shares will be deposited into your account daily. The amount will vary based on how much money KuCoin has made from trading fees. Note that, KuCoin uses 50% of all trading fees to buy back KCS and redistribute it to holders.

Nexo

Nexo is among the leading platform offering cryptocurrency backed loans. Recently, the platform launched a program that can be ideal for earning passive income. Nexo is offering a 6.5% interest rate on Dai, PAX, USDC, USDT, and TUSD stablecoins. The interest rate is compounded on an annual basis but all payments are done daily. Compared to traditional banks, this is a lucrative interest rate that guarantees you higher returns in the end. You can withdraw any amount at any given time. All the payments are automatic and you access the funds through the Nexo wallet.

According to Nexo, this program not only enables investors to earn some passive income, but it also helps in protecting the stablecoins. For Nexo loans, the platform supports popular cryptos like Bitcoin, Ethereum and Ripple. Note that cryptocurrency loans can also be a source of passive income. If the value of the asset you are using as collateral goes up during the loan period, the borrower gets to keep the extra gains. You can end up with the same, or even more money after the loan has been repaid with interest. Furthermore, funds on Nexo are secured through asset-backed portfolios of overcollateralized loans. The collateral of each loan is subject to custodial insurance of $100 million offered by BitGo.

Decred

Decred a cryptocurrency that aims to solve blockchain governance issues. Creators of the asset want to make it an autonomous currency, run by its community. Decred is among the first assets to incorporate the Proof-of-Work and Proof-of-Stake at once. This means that miners and stakers both have the voting power to make decisions. In short, a holder’s opinion is of high value within the community. Based on its nature, holding the asset can have good returns in the long run.

You can make a passive income from Decred’s PoS ticket system. When you hold the asset, you qualify to purchase tickets. In the event your ticket gets drawn, you will get back the ticket amount with an additional reward. On the other hand, if your ticket is not drawn, you will still get back the Decred that was invested into the ticket. If you stake Decred, you can earn 10.47% in staking rewards while the monthly staking reward stands at 0.87%. Note that holders who participate in Decred’s decision-making get rewards for their efforts. Anyone can join the community due to sustainable funding and a resilient contractor model.

Conclusion

Over the years, passive income has been associated with other forms of online investments. With the growth of cryptocurrencies, passive income is steadily gaining popularity with new programs coming out. Cryptocurrency passive income is the easiest form of income for any crypto fan. Previously, mining was the best passive income channel, but the sector has become unprofitable. The highlighted programs have proved to be among the best when it comes to earning extra monthly income. However, just like any other cryptocurrency investment, conduct your research before putting money in any program. Additionally, you should be comfortable with losing the money you invest.

Article Produced By
Amisi Paul

https://zerocrypted.com/best-cryptocurrency-passive-income-programs/

David https://markethive.com/david-ogden

How to Buy Litecoin in 2019 – Preparing for the Litecoin August 2019 Halving

Litecoin is a peer-to-peer cryptocurrency

and open-source software project with similarities to Bitcoin. Litecoin is among the successful altcoins in the cryptocurrency market. The cryptocurrency deploys the same encryption techniques to transfer and create funds and to confirm transactions just like Bitcoin. Litecoin differs from Bitcoin since it has a larger amount of coins and it has faster transaction rates. Generally, Litecoin is a better version of Bitcoin but lacks brand awareness. Litecoin is currently trading at $89.00 by the time of writing this article with a market capitalization of $5,502,066,609. Since the beginning of 2019, Litecoin has shown strong performance making it a cryptocurrency worth investing in. The cryptocurrency world is gearing up towards Litecoin’s August halving. The halving is expected to have an impact on the value of Litecoin.

What is Litecoin Halving and Its Impact on Price?

Halving can be defined as the process where miner’s rewards are halved following a predetermined block. The halving feature was introduced by Satoshi Nakamoto, the anonymous creator of Bitcoin. Halving protects cryptocurrencies from inflation. The process also ensures that not all the blocks are mined so soon. In August 2019, Litecoin is set to undergo its second halving. With Litecoin, we have only a total of 84 million coins that will exist. Note that the halving process happens every 840,000 blocks. Litecoin halving usually takes place after every four years. The last halving occurred in August 2015 when the network reached 840,000 blocks. The impact of halving is evident now since prior to the previous halving, Litecoin was trading at $3. Contrary to popular beliefs, halving does not affect miners only but investors as well. As the number of blocks is mined, mining becomes difficult translating to more resources. However, mining rewards decrease. As a way of tackling the decrease in mining rewards, the value of Litecoin increases as well.

How to Buy Litecoin In 2019

There are various ways of buying Litecoin in preparation for the August halving. However, before purchasing Litecoin, you need to prepare by having an appropriate wallet. You can get hardware or software wallet. Note that hardware wallets are the best for storing cryptocurrencies due to security reasons. Some of the popular hardware wallets to consider for your Litecoin is the Ledger Nano S and the TREZOR One. Popular software wallets compatible with Litecoin are Exodus and Jaxx. The Exodus wallet is compatible with the desktop while Jaxx is compatible with mobile devices. The most popular way of buying Litecoin is through cryptocurrency exchanges. Litecoin is gaining popularity, meaning that more exchanges are willing to list the cryptocurrency. Here are popular exchanges where you can buy Litecoin.

Buying Litecoin From Coinbase

Coinbase is among the leading cryptocurrency exchanges globally with a good reputation. On the exchange, you can buy Litecoin through various means. Coinbase accepts purchasing Litecoin directly through the use of a credit/debit card. You can also buy Bitcoin or Ethereum then trade it for Litecoin afterward. To get started, you need to create an account with Coinbase. Ensure the exchange is available in your area of residence. As part of the registration process, you will then need to confirm your identity by providing the necessary verification documents.

On Coinbase you can also buy Ethereum or Bitcoin then exchange it for Litecoin. To add your card, visit the payments methods page and select the ‘Add Payment Method’ button. You will then select ‘’Credit/Debit Card’. Note that to navigate this stage, your account must be fully verified. You will then accept the prompt explaining the pending charges. To proceed, log into your cardholder account and confirm the charges. You will then see a window that says “Credit/Debit Card Added’ and a ‘Buy Digital Currency’ button. You can now buy either Litecoin, Bitcoin or Ethereum from the ‘Buy/Sell’ page.

Buy Litecoin On Binance

Binance is another leading cryptocurrency exchange. Despite the recent hack, Binance still has the confidence of the entire cryptocurrency community. On the exchange, you have to start by creating an account through the official website or the mobile application. To proceed, you will need to verify your account through a code sent via your email.

With Binance, you can first buy Bitcoin or Ethereum then exchange it for Litecoin. To start the process, you need to access the Binance Credit Card Page. You can also access the page by logging into your Binance account then click on ‘Funds’ and then ‘Buy With Credit Card’. You will then select the type of cryptocurrency you would like to buy and then enter your order amount. A second bar pops up with the total amount that you will incur. In the next stage, you will have to customize the amount you have selected. Binance allows you to buy any amount of Bitcoin using a credit card. You can toggle the base currency of your credit card between USD or EUR. The Total Charge section indicated is the payment to be made inclusive of the service provided and the handling fee.

Additional Information For Simplex

Binance has partnered with payment platform, Simplex to facilitate buying of cryptocurrencies using a credit card. To complete the transaction, you will have to provide additional information to Simplex. Once you fill out the necessary fields, agree to the terms and conditions and privacy policy and then you can proceed. After verifying your account, click continue. You will then enter the necessary card information. Click on ‘Pay Now’ and you will then undergo ID verification. To verify your ID, Simplex gives you a number of options. You can take a selfie holding the card used to make the payment or upload your ID issued by the government. You can also use a passport, national ID card or your driver’s license. Note that the identification document should show your name and date of birth. If all the details are in order, you will have successfully purchased your Bitcoins or Ethereum. It takes about 30 minutes for the purchased cryptos to reflect in your Binance account. You can later exchange your Bitcoin or Ethereum for Litecoin.

Buy Litecoin on eToro

eToro is a leading cryptocurrency investment platform that allows you to buy and sell Litecoins for fiat currency. eToro is known to have a user-friendly interface alongside good customer support. Note that if you opt to use eToro you don’t actually need a Litecoin wallet. This is because eToro does not supply you the actual coins. eToro allows you to short a certain currency if you think its price will decline. If you do decide to use eToro for speculation purposes, keep in mind that cryptocurrencies can fluctuate in prices and are not appropriate for all investors. Additionally, note that trading cryptocurrencies are not under any EU regulatory framework.

Conclusion

Litecoin continues to shows its ability in the cryptocurrency world. The coin has a vibrant community alongside a strong development team that seeks to propel it to the next level. With the upcoming August halving, the value of Litecoin has the potential to increase hence the need to invest in the asset. We have different ways of buying Litecoin and the covered exchanges are ideal for getting your asset. Buying Litecoin with a credit or debit card is among the efficient methods available. The process is efficient and in most cases instant. It is important to consider the safety of your Litecoin by ensuring you store them in a secure wallet. Most preferably a hardware wallet. Exchange wallets are susceptible to hackings.

Article Produced By
Amisi Paul

https://zerocrypted.com/how-to-buy-litecoin-in-2019-preparing-for-the-litecoin-august-2019-halving/

David https://markethive.com/david-ogden

Facebook set to launch its own Cryptocurrency called “Globalcoin” in 2020

Facebook’s Crypto to be called “Globalcoin”

Social media giant Facebook is planning to launch its own Cryptocurrency named “Globalcoin” in the first quarter of 2020, according to a report from BBC. It is looking to start trails by the end of this year. Facebook recently registered a company called “Libra Networks” which is a Blockchain initiative that it has been working on for over a year. Even though Facebook has been secretive about its project, reports have emerged that the social media giant was looking for a Billion dollar funding for the Libra project.

Facebook has reportedly sought advice from the U.S Treasury officials and the bank of England governor Mark Carney regarding the opportunities and risks involved in creating a Cryptocurrency. According to FT, the company is also in talks with Winklevoss led Gemini and Coinbase for custody and trading solutions. Facebook is also in talks with payment giants like Visa, Mastercard and Western Union to collaborate and fund the initiative. The social media giant is looking to tap into the global remittance market by enabling cross border payments on Whatsapp in 12 countries including India.

Facebook’s Coin a Bitcoin Killer?

Facebook’s coin will most likely be a stablecoin pegged to fiat currencies like the dollar instead of a volatile asset like Bitcoin, there is no information available on the technical details of the Libra project. However, based on Facebook’s reputation of selling user data and its monopolistic tendencies, it is fair to assume that Facebook’s “Globalcoin” would mostly be centrally controlled, unlike Bitcoin’s decentralized governance. While some are critical of Facebook’s Crypto endeavor, others view it as a positive step for the mainstream adoption of Cryptocurrencies. One must not forget that Facebook’s humungous userbase which is larger than any online platform, any product released by Facebook will likely gain massive adoption and would be unprecedented in Crypto.

Article Produced By

Shrikar

https://blockmanity.com/news/facebook-set-to-launch-its-own-cryptocurrency-called-globalcoin-in-2020/

David https://markethive.com/david-ogden