Tag Archives: Bitcoin
The Crypto Lark: The Most Influential Women in Cryptocurrency, Bitcoin and Blockchain
Source: The Crypto Lark
Turning Bitcoin into Cash
For cryptocurrency newcomers, one of the most common things they want to understand is how to cash out Bitcoin or withdraw from Bitcoins to fiat currency (USD, EUR, Etc.).
Regardless of the reasons, a time may come where you want to turn your Bitcoin into government issued currency.
So how exactly can you get fiat cash or dollars for your Bitcoin?
How to Turn Bitcoin into USD or other Fiat Currencies
When it comes to selling your Bitcoin, you essentially have two options. And although they both have their advantages and disadvantages both suffer from the same challenges such as lack of mass user awareness and unclear remediation processes.
Sell Bitcoin Through an Exchange
With sleek user interfaces and KYC (Know Your Customer) processes required as part of account creation, these exchanges will let you link your funding bank account for withdrawal making the process easy and painless.
How to turn Bitcoin into USD through Coinbase
So, you have your Coinbase wallet with your Bitcoin sitting in it and you are ready to send your funds back to your local bank account. Follow these steps:
Navigate to the Buy / Sell section of your wallet
After you are in the sell section of the wallet, you can select the wallet you wish to sell from and the bank account you wish to deposit to.
Decide how much you want to cash out
Enter the amount of USD that you are wanting to get from selling your BTC. When you enter this amount of USD Coinbase will automatically calculate the amount of BTC it would cost to get that corresponding amount of USD.
If you don’t have the amount of Bitcoin in your wallet? Coinbase will notify you telling you to enter a new amount.
What to Expect After Requesting Cash Out
Confirm the amount you wish to sell, take note of the fees (they will be shown before you sell), and then click “Sell Bitcoin”.
The ACH system used by Coinbase usually takes a few business days to complete after a sell or withdrawal is initiated.
How to turn Bitcoin into USD through Gemini
Another popular option in which users can buy, sell and exchange their Bitcoin into USD is Gemini. With some of the sleekest trading features, Gemini will allow you like Coinbase to get Cash for your Bitcoin in a quick easy manner.
Getting ready to sell your Bitcoin
Head over to the Sell section of Gemini to choose how you want to sell your Bitcoin and the price you are willing to sell your Bitcoin in fiat for. Unlike Coinbase, you first need to trade your Bitcoin for fiat currency, before being able to withdraw it to your bank account.
Get the USD value for your Bitcoin and prepare to withdraw it to your connected bank account
Now it’s time to send the USD that you just got to your connected bank account.
Choose a withdrawal destination that you are familiar with and the amount of USD you want to formally transfer funds into.
Like Coinbase, it will take Gemini a few business days to send you the funds.
That is all it takes. Once you have the bitcoin on an exchange, such as Coinbase and Gemini, you can painlessly sell it.
Turn Your Bitcoin into Physical Cash with LocalBitcoins.com
For those of you looking to trade your Bitcoin directly for physical cash, LocalBitcoins.com may be a better solution.
LocalBitcoins is a person to person trading site where people can post their own bids for the buying and selling of Bitcoins to USD or other local fiat currencies.
Not only is there no identity verification, there are sometimes great arbitrative opportunities depending on how desperate a person is to buy bitcoin and how many other sellers there are in the area. This can create the ability to sell your Bitcoin above market value.
So how does it work?
Find or Post your Deal
After determining the amount of BTC you want to sell, find a deal that suits your payment method (currency wise) or post your own listing.
LocalBitcoins gives each user a feedback score similar to eBay where users can get comfortable with the history and number of deals the buyer has completed through local bitcoin.
Initiate the Trade
Now that you know your buyer, send the details of exactly what you want from them and make sure you are complying with the terms of the trade. These will tell you where and how you will receive your USD payment.
Also, remember to fund your Local Bitcoins wallet address so you can initiate the transaction based on the minimum about of BTC referenced in the trading request.
If you don’t have enough BTC in your LocalBitcoins wallet, you will not be able to make a trade, as you will be required to send this BTC to an escrow account.
Finish the transaction
Now that all parties have agreed on the transaction and ironed out the specifics in the inbox section of LocalBitcoins, your Bitcoins will be moved from your wallet to the trade escrow.
At this point, the buyer will get your payment details (how do you want to get paid for your BTC) and release the USD equivalent in cash over to you via the agreed upon manner.
When you have received the payment, you will confirm to Localbitcoins.com that the payment has been made and the BTC will be released to the buyer from trade escrow. That is it the trade is done!
As bitcoin and cryptocurrency continue to explode in popularity, more and more services are coming online to help users get their hands-on bitcoin or turn their bitcoin into USD or other fiat currency in a quick and effective way.
Although much of the attention is how to acquire Bitcoin, it’s important to understand the options you have to withdraw your Bitcoin and what the best ways are to do it.
This article is originally published at CoinCentral.com It is reproduced and shared here with the kind permission of the CoinCentral.com Editorial Team – our partner in your crypto success.
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Complete protection Released at Mon, 27 Nov 2017 06:01:00 GMT
Hyundai “goes crypto”: President Dae-Sun Chung announces plans for the company’s first token generation event
Zug, Switzerland, November, 2017— HyundaiPay in cooperation with Hdac Technology AG, the multinational corporation based in Switzerland, announces today its plans to hold a TGE (Token Generation Event), aiming to bring blockchain technology to IoT payment platforms and secure transactions amongst connected devices. Hdac Technology and Hyundai, specifically HyundaiPay are always looking for new and innovative technology to incorporate into their products, and the joint TGE will protect IoT devices and their users from hacks, privacy invasion, and external threats, especially for payments and transactions. Hdac technology and Hyundai Pay will hold a TGE for the HDAC token on November 27th. The TGE will run on the Hdac blockchain, a separate entity apart from Bitcoin and Ethereum, which is maintained by the Hdac Technology group.
The Internet-of-Things (IoT) is making a visible and immediate impact on the tech industry these days, and will be worth $270 billion by 2020. Connected devices, homes, and vehicles can already be found in advanced countries, and as anyone with experience in the industry knows, the complexity of ensuring safe financial transactions, is close to impossible. Consider the security challenges involved in safely making an online payment on your phone in a public place. The vulnerability of security breaches is very high between connected devices. There is high-security risk for office buildings, large convention centers, or even a connection home that is transferring data constantly throughout the day.
A network of economies and payment platforms in the IoT have to integrate blockchain into their system in order to offer integrity and confidentially to their users, and to revoke the mystery behind this futuristic solution for security failures. Integration of blockchain technology will solve various issues in terms of security in IoT:
Interconnected security risks: IoT devices are all connected, if one node on this network becomes compromised, this puts the whole fabric at risk.
Different security protocols and requirements of each device: These differences make integration slow and difficult at times.
Many points of failure exist, which makes monitoring a wide network of IoT devices at best difficult, at worst impossible.
Developments in blockchain technology enable greater transparency and trust, especially regarding payments, and can help secure all those self-driving cars, smart home devices, and even your FitBit that have flooded the industry in recent years.
The goal of Hyundai BS&C and Hdac Technology’s TGE is to support the continuing development of the Hdac blockchain, as blockchain technology has the ability to greatly enhance the security of the IoT. Hdac, which runs separately from the Ethereum and Bitcoin protocols, is based on hybrid blockchain technology, which offers a wider range of capabilities to ensure reliable connection and secured processing between devices. Hyundai will work to apply this pioneering platform to hardware payments applications and to enhance both their security and reliability.
Blockchain technology is the only way to achieve the level of security that Hdac technology and HyundaiPay aim to achieve. The Hdac blockchain addresses security issues by providing immutable information on top of smart contracts. It makes the automated security and transparency principles application over the platform, in a possible way that was previously impossible to guarantee.
“We are thrilled to hold a TGE in order to bring security and transparency to IoT devices,” said Dae-Sun Chung, Founder of Hdac Technology AG, “With more IoT devices hitting the market daily, our lives become more connected. Although there are many benefits to this, we open ourselves to great security risks. Blockchain technology, and special the Hdac blockchain, is the best way to leverage trust, transparency, and security on IoT.”
Bitcoin & Blockchain & Why You Should Care: NY Alternative Investment Roundtable
Source: Reggie Middleton
Bitcoin and other cryptocurrencies will be vulnerable to attacks by quantum computers in as little as 10 years from now, say a team of researchers proposing measures to improve digital currency security.
The team of researchers from Sydney and Singapore have produced a White Paper, Quantum attacks on Bitcoin and how to protect against them, that describes how digital currencies could become vulnerable to attack, with disastrous effect if thieves equipped with quantum computers steal funds without detection.
The potential is that trust in this rapidly growing market – today estimated at a worth of US$150 billion – could erode rapidly as a result.
“Many existing Bitcoin accounts and all new transactions will be at risk within 10 years, so we need to start thinking about solutions now,” says Dr Marco Tomamichel from the Centre for Quantum Software and Information (QSI) at the University of Technology Sydney (UTS).
Dr Tomamichel is part of the new Quantum Resistant Coin (QRC) group of researchers bringing their knowledge of quantum technologies and cryptography to the security of digital currencies, in partnership with blockchain company Hyperchain.
The other members of the group are Associate Professor Gavin Brennen at Macquarie University, Professor Miklos Santha at the Centre for Quantum Technologies (CQT Singapore), and Associate Professor Troy Lee from Nanyang Technological University, Singapore.
The QRC team has considered the point at which quantum computers could potentially jeopardise the security of current cryptocurrencies, and have assessed counter-measures to such attacks.
They also assess the risk of quantum-dominated mining in so-called Proof of Work protocols, which are the basis for verifying transactions in Bitcoin and many other cryptocurrencies.
“It is a very exciting time to be working in quantum information now that simple quantum machines, like the Google and IBM devices, are a reality,” says Dr Tomamichel.
“Understandably, there is a lot of nervousness in cryptocurrency communities about whether their digital assets can resist future attacks by very fast quantum computers.”
QRC has been appointed as a technical advisor to Hyperchain, which provides technical services to Hcash (CoinMarketCap.com Hshare with a market capitalisation of over US$300 million) and will work with Hcash, Hshare and Hyperchain to ensure their cryptocurrency can resist quantum attacks.
“Our service is providing advice and algorithmic protocols to digital currencies and blockchains like Hcash which want to certify their product will be quantum safe. HCash has put a strong emphasis on quantum security from the outset so this collaboration will benefit both teams, and customer confidence,” he says.
Ethbits Local, a peer to peer crypto currency exchange, is now fully live offering trades throughout the UK, France, South America and Nigeria. The platform includes payment via cryptocurrency, bank account transfers and cash trades. Ethbits Local is gaining popularity from users through its low transaction fees of 0.5%, half that of its competitors, whilst also offering exchange via ETH and its own in-house token ETBS as well as Bitcoin. The next coins expected to be available are XMR and ZCASH which focus on user privacy.
After raising 13,786 ETH (worth $1.3 million at the time) from 820 investors in its crowd sale, and distributing 1.3 million ETBS tokens, Ethbits is in an excellent position to roll out its core proposition. Centralised exchanges have long been the Achilles heel of the decentralised cryptocurrency ecosystem, and the partnership with BCB ATM – known for its user-friendly and secure design – strengthens Ethbit’s position considerably.
‘We’re very pleased that BCB ATM have agreed to make Ethbits available through their network of ATMs,’ said Matthew Radbourne, Ethbits PR and Business Growth Manager. ‘As cryptocurrency goes mainstream, there will be an ever-greater demand for convenient solutions such as ours. The research shows that traditional cash and cashpoints aren’t going out of fashion any time soon. If we want people to use cryptocurrency, we need to start offering them solutions that are already familiar to them.’
ETBS the local currency of Ethbits Local has recently been upgraded to reward token holders based upon the profit from the platform and also has a token burn function which will be utilised in the coming months – again based on the amount of profit generated through the platforms. 132 Ether was distributed to token holders in August with a further payment expected in January. For more information about how to claim visit the Ethbits blog.
With the current ICO boom underway Ethbits has also made available a rating page for upcoming crowd sales to assist potential participants when selecting projects.
To find out more or to use the platform to purchase crypto easily visit www.ethbits.com.
Veritaseum Update: Reggie Middleton’s Keynote Speech at Harvard, Dimon, Bitcoin, Frauds, Jamaica and Chinese Imperialism
Veritaseum Update: Reggie Middleton’s Keynote Speech at Harvard, Dimon, Bitcoin, Frauds, Jamaica and Chinese Imperialism
Source: Reggie Middleton
REALIST NEWS – Bitcoin Dumps On Massive Volume As China Plans To Shut Local Exchanges