Israeli start-up launches a tablet for real-time cryptocurrency payments
Israel-based Virtual Crypto Technologies Ltd. launched NetoBit Cash on Monday, a tablet that allows users to receive cryptocurrency payments in real time.
The device is designed to facilitate the purchase, sale and conversion of cryptocurrency transactions up to $3,000 through retail points of sale, e-commerce, websites, ATMs, tablets, PCs and mobile devices.
Alon Dayan, co-founder and CEO of Virtual Crypto says:
“Strong infrastructures and products that can ensure instant, easy to use, two-way Bitcoin transactions are essential to strengthen cryptocurrency as a financial asset worldwide.”
Compared to existing platforms, Virtual Crypto's solution is faster and offers more liquidity, the company told CryptoComes in an interview.
Unlike existing payment services via an ATM and the Internet, where users are often obligated to use a specific exchange commission, Netobit’s exchange adapter connects to multiple exchanges and offers customers the best exchange rates and lowest commission rate available at the time of the transaction.
Virtual Crypto’s in-house algorithm can predict whether a Blockchain will approve a cryptocurrency transaction with 95 percent accuracy and verify that a block is going to be digitally signed in less than five seconds, reducing the approval time from hours or minutes to seconds, the company said.
"Our proprietary blockchain products and services make cryptocurrencies accessible to businesses and users in every industry, and turn dormant assets sitting in users' digital wallets into funds that function like cash.”
Retailers can also instantaneously choose whether to accept the payment in Bitcoin or convert it into cash before accepting the payment, making the entire process more efficient compared to pre-paid cards.
Virtual Crypto is currently running pilots in Cyprus and Turkey and says it intends to distribute products to small and mid-sized cafés, restaurants, and shops, as well as larger businesses like airlines, tourism companies, government agencies and payment gateways within the next few months.
Virtual Crypto was co-founded in January 2018 by Israeli entrepreneurs - CEO Alon Dayan, Chief Scientist Dr. Royi Ithzak and crypto expert Guy Corem.
The market offers a wide selection of cryptocurrency exchange platforms, and despite China’s strict policy regarding crypto, the number of worthy crypto-related websites continues rising. Being a new exchange platform, IDCM has quickly become a comfortable place for traders. Will it live up to your expectations? This ultimate guide is here for you to decide.
This is a Chinese cryptocurrency exchange with a minor selection of trading pairs. IDCM was established in Hong Kong in April 2018: within half a year, it became one of the Top-20 cryptocurrency exchanges by daily turnover. What’s the secret of such success? The Chinese blockchain-based project was founded by Wall Street top-dogs: the team behind it consists of blockchain pioneers, independent financial directors, and other key people in the financial sphere.
The IDCM alliance was organized by representatives of Deutsche Bank, UBS, ASX, and Accenture Blockchain’s team. It is being managed by former and current employees of NASA, McKinsey & Co., Google, Goldman Sachs, Tencent, IBM, Huawei, and KPMG. With so many talented contributors and rich investments, the platform was destined to thrive from the very start.
Great liquidity and exceptional performance are praised by users. At the moment, IDCM supports 22 currencies and 38 trading pairs. The daily trading volume has exceeded $204 mln with BTC/USD exchange alone worth 11850,309 BTC.
What makes it special is its large trading volume and very quick processing of transactions. Although the number of trading pairs is far from outstanding, the exchange platform enlists the most reliable tokens only. IDCM boasts rock-solid protection of transactions and clients’ information. The system of alliances makes this platform resilient and super-fast.
What makes IDCM very competitive is a large set of exclusive features and peculiarities.
First, IDCM is the first exchange platform in the world to use consensus mechanism: serving as super-nodes, alliances form the trading platform for the cryptocurrency. The alliance accumulates additional liquidity from transactions made outside the platform. The exchange volume can be five times higher than the trading volume.
Secondly, IDCM provides a whole gamut of top-notch financial services. It provides real-time information about the market, suggests beneficial trading strategies, and renders other marketing services. Traders are free to set price alerts: if the price exceeds 10% of the current rate, both buyer and seller are notified.
Thirdly, IDCM provides a great DApp platform for developers of games, trading products, eCommerce projects, and social media. DAICO, the proprietary development platform, is a specific solution for high-quality projects. IDC (IT) token will be used on the platform, as well: it may serve to distribute profits and get access to certain services.
Please note that other cryptocurrency exchanges can join the alliance, but only the most reliable and quality projects are allowed to merge. Those that join will have access to IDCM’s technologies, resources and the exchange platform itself. Every website that gets enlisted will be legally protected in the country it represents: IDCM has well-developed algorithms of juridical protection. The decision about accepting new exchanges depends on the results of voting protocols.
The Chinese cryptocurrency exchange appeals to both Chinese and international users due to a wide range of benefits available:
One key advantage of the platform is its exceptional performance and speed. The alliance standing behind IDCM is able of processing up to 1,400,000 orders per seconds. Besides, due to a high liquidity, users’ orders are taken quickly.
Military-grade encryption technology is topped off by multichannel distributional memory and AI security systems. Users’ personal and payment information is protected by SSL encryption.
Decentralization and super-nodes allow for a fast consensus mechanism which boosts transaction efficiency and allows users to participate in platform management.
Blockchain technology ensures data integrity, makes transactions transparent and allows for independent audit.
IDCM does its best to sustain liquidity. Since it’s organized as an alliance, it has a great support being backed up by strong investors.
The alliance continues growing quickly due to low entry barriers. If an exchange platform wants to join IDCM, there are only two things to do: 1) Get a domain name; 2) Pay the IDCM alliance fee. The company keeps supporting its partners by all means possible. Probably, due to this fact, the number of available trading coins can be expanded soon.
Although newcomers aren’t offered any special bonuses, IDCM provides a generous referral reward: users can get a 30% trading commission discount for inviting their friends. To be more specific, you get 20% of the trading free that your own friends generate and 10% more from commission fees made by friends that sign up through them. If they get caught in fraudulent activities, you won’t get a reward.
Additionally, traders can test the new ToM (Trade-to-Mine) mechanism and get IT token dividends. That means the transaction fees are converted in IT coin and sent back to users. The more transactions you perform, the higher your benefit.
Exchange Trade Volume
At the moment of writing this article, the daily trading volume has exceeded $204 mln with BTC/USD exchange alone worth 11850,309 BTC. According to coinmarketcap.com, IDCM is on 13th place in top-20 crypto exchange platforms by the trading volume.
How to Use IDCM?
On the main website, you can see basic sections:
Fiat – fiat cryptocurrency trading (only USD and HKD can be deposited/withdrawn).
Trading –main trading page.
IT – information about the proprietary token.
IDCM ALLIANCE – information about joining the alliance.
News about cryptocurrency.
The process of navigation is quite simple: you have all necessary information at your fingertips. As soon as you register, you can start making deposits and trade.
Want to trade on the go? IDCM offers a mobile application that’s compatible with iOS and Android. It can be downloaded on the official website.
Proceed to the Exchange section. You will see the following categories:
Choice of the trading pair.
Trading pair rates.
Graphical information about the chosen trading pair.
Open Buy orders.
Open Sell orders.
History of transactions.
History of user’s trading.
Sell/buy order form.
To start a transaction, you need to select a trading pair and fill in the Buy form.
You can select the type of order:
Limit order – You choose the price.
Market order – The default market price is set.
Now set the price and the number of coins you need and click Buy. As soon as someone takes your order, you’ll get the coins.
To place your order, fill in the Sell form. To have your order processed faster, place a bigger price, but make it more competitive. If you can’t wait and need an instant exchange, go to the list of Buy orders and take the one that suits your requirements.
IDCM features 40+ coins. The most demanded trading pairs are BTC/USD, BTC/ETH, ETH/USD, BCH/USD, EOS/USD, NEO/USD, XRP/USD. This is not a large number of trading pairs, but the basic ones are covered and orders are accepted quite quickly.
IDCM works with the most popular cryptocurrencies, including Bitcoin, Ethereum, Neo, Bitcoin Cash, Litecoin, Ripple, and others. It accepts USD and HKD as the fiat currency. Aside from it, the IT token is used as the reward for transactions.
One of outstanding coins on IDCM is VHKD (Virtual Hong Kong Dollar). This is a digital currency that’s bound to the Hong Kong Dollar (HKD). In comparison with USDT, which is not completely centralized, VHKD is more confidential and convenient in use.
Another thing that attracts users is flat fee policy: users only pay agreeable 0.1% transaction fee (both makers and takers are charged 0.1%). Deposits in USD and HKD are charged 0.3% fee, while deposit in cryptocurrency is totally free. That makes IDCM’s commission the second lowest trading fee on Chinese cryptocurrency exchanges. The withdrawal fee is 0.0005 Bitcoin: no exchange platform can boast such a low withdrawal rate. Withdrawal fees for other currencies depend on the type of token. As for C2C Trading, IDCM has %0.25 fee for order placer and zero fees for an order taker.
Neither website nor any third-party sources mention the trading limits: it is up to users to decide. But as for deposit and withdrawal limits, they depend on the currency. For example, the platform has a minimum $500/ 5,000 HKD / 0.01 BTC / 10 XRP deposit, which isn’t agreeable for users who make minor transactions. Withdrawal limits are pretty much the same as deposit, which means IDCM is the place for those who play big.
However, it should be noted that IDCM ensures a high liquidity of assets: the volume of transactions taking place in the alliance is five times higher than on the platform itself.
Setting up Trade Account
The interface of IDCM can be a bit confusing right from the start, but customers get used to it quickly: all sections and tabs can be accessed in a couple of clicks, and trade management is intuitive. Let’s observe step-by-step navigation on the website.
Creating an Account
To create an account, click the Sign-Up button in the upper right corner of the page. You’ll need to fill in the registration form:
Email address (Gmail is highly recommended – it’s considered to have the best protection against hacking).
Click Get code. You will receive a letter on your email. Copy the code from the letter and paste it in the registration form.
If you have a referral number, paste it in the form.
Now click Sign up. Congratulations — you’ve joined the ranks of IDCM users!
IDCM features basic security features, such as SSL encryption and firewall. But don’t forget your security is in your hands: there’s a handful of ways for account protection.
Before you rush to make a deposit, set up the account safety. Proceed to account settings (click on your Profile sign on the upper right corner of homepage). IDCM offers such protection measures as password and PIN code (those are generated upon signing up), 2-factor authentication, and verification.
It is highly recommended to use 2fa from Google. How to set it up? Go to Security settings in IDCM and select 2fa. Download 2fa application on your mobile phone (both Android and iOS compatible versions are available). Open the app, press + on the upper right corner and click ‘Scan QR-code’ (it will be shown in IDCM). As soon as scanning is completed, the app will display a line with a 6-digit code: paste this code in the Google authentication code panel on IDCM and press Enable Google authentication. If your smartphone doesn’t recognize the QR-code, try to add brightness on your screen, or scan it with a third-party application.
Unlike other exchange platforms, IDCM doesn’t oblige users to go through personality verification, but it may add trust to your account and prevent hacking. The process of verification takes from several days to several weeks and requires the following personal information:
Country of residence.
Passport/ID number (scan + selfie).
User’s full name.
Adding Payment Methods
While IDCM accepts wire transfer for deposits, no plastic or credit cards are supported. You cannot add a payment method — the transfers to the exchange platform can be saved as patterns in your banking account.
To deposit funds, go to your account and proceed to Assets section. The page with available coins for trading will be opened. Select the cryptocurrency and click the Deposit button on the opposite. The Deposit form will be opened. Copy the address of generated wallet. Paste it in the Receiver’s address in the payment system you use (exchange platform, cold wallet, etc).
To withdraw your funds, go to the Withdraw section and fill in the form:
The address of wallet where you send money to.
Amount of coins.
Amount of coins you receive without commission (calculated automatically).
Now press the Withdrawal Confirmation button.
IDCM provides customers with a decent level of 24/7 customer support. Following the practices of C2C trading platforms, IDCM gives users three hours to upload the proof of payment in the system. If the digital currency isn’t released within three hours, IDCM operations team will help to have the transaction finished.
Users can contact the assistants around the clock via email [email protected] or by making a phone call. Their customer support speaks several languages: Chinese, Korean, Vietnamese, Japanese, English, French, and Dutch.
Aside from that, users can get a lot of essential information in the knowledge library. The FAQ section offers a few guides on securing account, trading, deposits, and withdrawal. There’s the full set of API documentation for developers, as well.
Generally, IDCM’s advantages outweigh the minor drawbacks:
Incredibly fast transaction processing (the alliance can process up to 1,400,000 orders per second).
The choice of trading pairs isn’t large: IDCM works with the most widespread cryptocurrencies only.
The website provides exceptional user experience thanks to easy navigation, mobile application, and transparent fee policy.
Deposit via credit/debit cards isn’t possible.
IDCM’s transaction fees are among the lowest ones on both Chinese and international market of cryptocurrency exchange platforms.
The website interface is available on a few languages, customer support speaks 8 languages. It means that IDCM isn’t equally convenient for people from different regions. The project needs to expand its global presence.
This is one of the first exchange platforms that use Trade-to-mine technology: it means that users can earn IT tokens by simply performing transactions.
Relatively high deposit and withdrawal limits: IDCM is suitable for serious traders who can afford spending hundreds of bucks on investments.
IDCM is one of few cryptocurrency exchanges that does not track users’ transactions, e.g. what exactly coins are spent on. Personal security is boosted by 2-factor authentication.
Among fiat currencies, only USD and HKD are available for deposit.
Aside from a trading platform, IDCM serves as trader’s personal consultant: it provides information about token rates, notifies about price fluctuations, and displays useful infographics. All the information (banners, announcement news, information, core advantages, partners, trading volume, social media, and links) is customizable.
Margin trading isn’t allowed.
IDCM ensures a high liquidity of all assets present, and users’ orders are processed quickly. Be assured: if you set up agreeable Buy/Sell price, your order will be taken instantly.
Providing its customers with a myriad of useful instruments and trading opportunities, IDCM platform has the right to be called one of the best cryptocurrency exchange platforms both in China and the world. Its creators strive to stay ahead of tech curve and leverage the best security practices for customers to be safe and sound. IDCM would be equally convenient for both starters and professional traders: fast order processing and convenient navigation make for brilliant user experience. The only serious drawback is a small choice of trading pairs. However, the situation can change to the better because IDCM alliance is free to join for third-party exchange services, and many starters will surely grab this opportunity with both hands.
You shouldn’t miss your opportunity as well: rumor has it that IDCM might cancel regular registration of new users and allow only for registration by referral links.
ICOs have doubled in six months of 2018 of what was done in 12 months in 2017. Here is a look at the companies that emerged and are succeeding
It’s already July and it’s time to take a look back at all of the action over the first half of 2018. It has been an exciting and tumultuous time for the crypto world over the past two quarters. The market has been subject to bear domination and the market cap for the cryptosphere is down to $275 bln at the time of writing.
We have seen bans, scams, busts and successes over the past six months. A major point of growth has been the ICO market, with almost $14 bln raised in the first half of the year.
That figure is double the entire amount of all ICOs from 2017.
Last year, in 2017, 552 projects carried out an ICO and raised $8 bln. In 2018, except Telegram and EOS, 535 coin offerings took place and they collected almost $8 bln.
Quite a few of Cash-for-Crypto Lenders are dominating the chart. Let’s look at the top 10 Platforms coming out of the first half of the year, in no particular order.
WePower’s main goal is to make green energy projects easily financed by allowing it to come from the community and individuals as opposed to the traditional top-down method of financing.
The financing model created by the WePower ICO incentivizes both producers and energy buyers to use the platform.
ERC20 WPR token raised $40 mln in the initial ICO on Feb. 1, 2018. There was a presale that lasted from Sept. 22, 2017 to Feb. 1, 2018. So the company had a lot of time to raise the funding.
Is taking on the healthcare/benefits industry by decentralizing the system and giving the power back to the user. Authority is delegated to the patient with the hopes of enabling better access to care, streamlined physician tasks, and timely and accurate payments by the healthcare administrator. The platform consists of four different components that make Solve.Care function: Care.Wallet, Care.Card, Care.Coin, and Care.Protocol. All of these components are designed to offer an innovative approach to administer benefits and keep patients, doctors and hospitals in sync and out of the hands of centralized record keeper. Solve.care raised $20 mln on May 1, 2018, and the platform is open for registrations.
Closing its alpha tests as this is written, Play2Live will unveil its beta platform in Aug. The Play2Live ecosystem has been designed to give everyone who is involved in eSports and gaming a better experience than that which they have right now. Users get a range of streaming options with the option of having no advertising on them. Users will be able to interact and can also choose to earn tokens in a number of different ways. These are just some of the benefits the platform will bring. Its hard cap for the ICO was $30 mln but the amount of funds raised has not been verified.
AppCoins is an open and distributed protocol for app stores. It proposes to move to the Blockchain three of the most critical flows of app stores: advertising, in-app purchases and developer’s approval. By redesigning the transactions inside an app store, the company creates efficiencies by disintermediation and redistributes the value released in a way that creates incentives for the AppCoins supported stores.
Ambrosus is building a decentralized, Blockchain-powered IoT-based logistical supply chain network that will enable secure and frictionless dialogue between sensors, distributed ledgers and databases to optimize supply chain visibility and quality assurance. The network will serve industries such as agricultural, medical, commodities, and high-value products. It has a market cap of $44.6 mln. The token entered the market on Oct. 23, 2017 at $0.19 and at the time of writing is trading for $0.31. The token hit an all-time high of $1.72 in mid-January 2018.
Is a cash-for-crypto company that will allow users to take out loans against their crypto collateral. This allows users to maintain their long positions without having to pay fees and taxes on crypto sales to access their cash. If they don’t want want to pay back the loan, Money Token keeps the crypto and clears the debt. If the value of the crypto collateral grows and the borrower pays it back, then they only pay want was in the contact before and they get to keep the crypto gains without any penalty. MoneyToken just ended its ICO on Jun 7 and raised $36 mln. The platform is active and ready to make loans.
Cardstack is an open-source framework and consensus protocol that makes Blockchains usable and scalable for the mass market, creating a decentralized software ecosystem that can challenge today’s digital superpowers. The ICO raised $35 mln in a 24 hr ICO that ended June 1.
Decentralized Credit is another lender, but it gives power over personal credit information back to the owner. In this way, it enables the user to find the best deals on loans and it makes it faster because the user and directly grant access to potential lenders and avoid the long credit and financial background checks that traditional banks make patrons suffer though. DCC raised $49 mln in a 24-hour ICO that ended on May 29, 2018. This past half year has seen much headway for the company: First personal loan product DApp launch on DCC, DCC Explorer launch; Distributed Credit Chain open platform launch, second DApp launch; Interfaced with more than five financial institutions with services ranging from loans, data and risk control.
Raising some $118 mln, Orbs offers a platform that is built around the concept of supporting large-scale applications for consumers on the Blockchain. They partnered with major messaging app Kik, which is part of Kin coin. Orbs is about offering infrastructure as a service to its clients. The platform built its Blockchain from the ground up for the consumer applications market and tailored to its very specific set of requirements which is their basic difference between other Blockchains. Also ORBS platform will have their own infrastructure marketplace where independent software providers will be able to offer decentralized flavors(like decentralized analytics) of their software with an API compatible on the smart contract SDK layer which will allow providers to rely on the ORBS consensus layer.
Another Crypto-backed loan provider, Nexo has been able to raise some $52 mln in funding in a three-week-long ICO that ended April 1. It has already loaned out more than $120 mln and has collected some $155 mln in repayments. Like many of the other crypto-for-cash lenders out there, they will require a crypto collateral. It operates under the same premise as the other lenders, to allow you to make gains on your holdings while using cash to fulfill your needs. Nexo operates under the authority of the EU Banking Supervision.
*** Please note the analysis below is not investment advice. The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of U.Today. Every investment and trading move involves risk, you should conduct your own research when making a decision.
Yesterday we got a small sign that the price may come down and test the lower levels. It made a breakout from the triangle downwards which is a bearish sign, but currently, on the four-hour chart, we could see that there is a very strong level- $6,250.
BTC price has tried to break this seven times but all those attempts were unsuccessful and it bounced back above the mentioned level. So, basically, we have a sign that we may go downwards from triangle breakout, now, if we get a close below the $6,250 this could mean that there is a very high probability to go test the lower levels. If we start to drop then the first support is $6,000 where we want to watch what the price action does but we think it will go much lower than $6,000 but let's see and let’s take this step-by-step.
If we start to go higher then you already know our resistances from yesterday’s post.
Litecoin (LTC/USD) is on the important area
If some alts are approaching the 2018 low point then Litecoin is almost there. Currently, LTC price is on the very important support area- $50 which starts to work as a support and the 2018 low which was made on Aug. 14.
If we don't find that power to hold the price above $50 then bearish confirmation would be a four-hour candle close below the 2018 low (red box).
A break below the 2018 low could mean bad news for LTC because there are exactly zero recent supports until the next round number area of $40. There are also two different trendlines pulled from different wicks and lows (let's call those trendlines the minor trendlines) and they make a cross on the $40 level + there is also some Fibonacci extension areas. So, this means the next support area and a pretty significant one is around $40.
To trade between the $50 and $40 level is pointless and very risky. Because technically there is almost nothing remarkable. Wait for $40 or if the price doesn't reach into this are then wait for our technical analysis, we will try to keep you posted.
Tron (TRX/USD) is approaching the key area
If we take a look at Tron’s four-hour chart then it has dropped below the round number $0.02 and below the strong support which was around $0.0188 and looks like there is room to go even lower.
TRX possible next targets/supports are the 2018 low which occurred on Aug. 14. In this price level, we have to watch what BTC does, if it also finds the support, from let's say from $6,000, then it would be good for Tron also since those distances are almost the same.
Around the 2018 low, we have a round number of $0.015 which could start to support the price.
If TRX price doesn't catch the momentum from the mentioned level then we might go and touch the minor trendline which is pulled from the June 13 wick and we may go as low as $0.011-$0.013.
So, currently investing in Tron is not recommended because there is room to go lower and the market is on the selling pressure.
Hopefully, those levels and this analysis helped you out a little bit to confirm your own analysis.
There can be many reasons for selling cryptocurrency: maybe you’re converting the salary you receive in Bitcoin to fiat, maybe you are exchanging funds for other coin investments. If you are selling with the intention to make a profit you should consider doing your research first. Sometimes, fraudsters take advantage of inexperienced consumers and the cryptocurrency market is very volatile.
Numerous tools are available online for monitoring the changes in the cryptocurrency market. One tool you might use to evaluate the condition of the market is price reviews. A price review analyzes the price movements of different coins on the cryptocurrency market, offering possible explanations and predictions for price changes based on the market’s history.
Nearly any platform that allows you to buy Bitcoin will allow you to sell Bitcoin — this includes all exchanges and some Bitcoin ATMs. Just like storing different cryptocurrencies in different wallets, you might want to use different exchanges to sell cryptocurrency depending on your needs. Different platforms may have different advantages for different types of investors. Platforms like GDAX and Gemini are intended for large volume trading by institutional investors; on the other hand, exchanges like Coinbase, Kraken, Bitstamp and Poloniex are more convenient for retail investors because they provide additional services like secure storage.
Some things to remember
There are a couple of things to keep in mind when selling cryptocurrency.
First, while the market coin price is locked in at the time of sale, the time until the transaction is completed and you receive your funds may differ, so plan ahead. The standard exchange procedure is that a transaction needs to go through six verifications before it is considered complete.
Second, some exchanges will require identity verification for all transactions while others are less stringent. You may want to consider this before signing up for an exchange.
And lastly, make sure to declare any profits you make on cryptocurrency sales to the appropriate tax authorities. Although one of the greatest advantages of using Bitcoin and other cryptocurrencies is the ability to complete transactions without a third party, not declaring your crypto profits is illegal. The transparency of the public ledger and the government’s heightened attention to cryptocurrency industry could result in punitive measures.