Bitcoin Trader: Google Helps Scam Crypto Trading App Look Legit in Reviews

Bitcoin Trader: Google Helps Scam Crypto Trading App Look Legit in Reviews

Bitcoin Trader has been heavily promoting itself as the best and safest automated cryptocurrency trading app that can help people earn $1,300 a day. Numerous fake reviews and scam checks on Bitcoin Trader are highly ranked by Google, making this scam appear legitimate. News.Bitcoin.com investigates this investment scam.

Bitcoin Trader Scam

Many bitcoin scams have emerged as unemployment rises worldwide during the economic crisis and coronavirus pandemic. One investment scheme that has recently gained more attention due to its aggressive marketing tactics is called Bitcoin Trader. It claims to be “an automated trading software” that can “trade cryptocurrencies and forex in both automated and manual mode.” However, there are many red flags about this platform.

The Bitcoin Trader website resembles numerous other investment schemes that news.Bitcoin.com has already uncovered as scams, such as Bitcoin Superstar, Bitcoin Era, Bitcoin Revolution, Bitcoin Evolution, and Bitcoin Loophole. Besides a cookie-cutter website, these scams have the same setup.

Bitcoin Trader’s website displays a video on its landing page featuring famous billionaires discussing their investment views that appear to favor bitcoin, including Microsoft founder Bill Gates.

Bitcoin Trader’s official website has changed its URL several times but its logo remains unchanged. Its content has also slightly changed a few times since the beginning of the year when news.Bitcoin.com began tracking the scheme. Initially, Bitcoin Trader advertised that only bitcoin could be traded using its tools but later claimed that users can also trade in other cryptocurrencies, including bitcoin cash, ethereum, monero, litecoin, XRP, and dash.

The front page of the Bitcoin Trader website has an urgent message in red at the top of the page that reads: “Warning: Due to extremely high media demand, we will close registration as of [today’s date] – Hurry.” Over the five-month period which news.Bitcoin.com followed this scheme, registration never closed but the warning message continues to appear with today’s date instead. The website also displays a video about bitcoin, featuring several famous people commending the cryptocurrency such as Virgin Group founder Richard Branson, Virgin Galactic chairman Chamath Palihapitiya, and Microsoft founder Bill Gates. Others that have been used to promote Bitcoin Trader include Tesla and Spacex CEO Elon Musk, former Google CEO Eric Schmidt, and the Winklevoss twins.

$1,300 Per Day and Other Promises That Are Too Good to Be True

Bitcoin Trader lures investors desperate to make money fast in this time of economic crisis with promises that are too good to be true. Its website displays messages like “you can usually expect to earn at least $1,300 per day,” “some users reportedly earning their first $1 million in a couple of months,” and “you will only need to work for about 20 minutes every day.”

A few testimonials are also featured on the Bitcoin Trader website of supposed members who have made money using the platform. However, these reviews are fake and images used are stock photos.

Bitcoin Trader: Google Helps Scam Crypto Trading App Look Legit in Reviews
Fake testimonials on the Bitcoin Trader website. Similar testimonials are found on other bitcoin scam platforms reviewed by news.Bitcoin.com, such as Bitcoin Superstar, Bitcoin Era, and Bitcoin Revolution.

The Bitcoin Trader platform also falsely claims to be the best, the most legit, and the safest bitcoin trading app. Its website states that the software has “a world-leading accuracy rate of 99.4%,” is the “safest investing app in the industry,” is “100% genuine,” and “we have testimonials from many of our members which praise our app’s ability to generate them huge profits over a short period of time.” The site further notes that the Bitcoin Trader app “has a success rate of 99.4%, which makes it the highest-rated in the market. Because of that, it is considered the most dependable, as well as being award-winning and very well credited.”

Google Helping, Aggressive Marketing Tactics, Fake Reviews

Bitcoin Trader employs aggressive marketing tactics to draw unsuspecting investors. The people behind the scheme themselves or their affiliates have published press releases about the scheme and peppered the internet with fake reviews, news, and scam checks in an effort to convince investors that Bitcoin Trader is a legitimate platform and not a scam. For example, a press release was published on the popular AP News website in May entitled “Bitcoin Trader review 2020 – Is it really a scam?” It details how to sign up with Bitcoin Trader and tries to convince its readers that Bitcoin Trader is a legit trading app.

Bitcoin Trader: Google Helps Scam Crypto Trading App Look Legit in Reviews
A Bitcoin Trader press release on the AP News website, entitled “Bitcoin Trader Review 2020 – Is it really a scam?” This paid content was published on May 20 and ranked very well by Google.

The Bitcoin Trader website itself even has a section to say that it is not a scam. “First things first, Bitcoin Trader is not a scam,” the Bitcoin Trader website states.

Many fake reviews are found online and quite a number of them are well-ranked by Google. The American technology and search engine giant, which owns the popular video-sharing website Youtube, has been known to rank scam websites better than legitimate ones, making scam reviews look legit. Google and Youtube earn ad revenues from listing these scam websites and reviews. Youtube is also currently generating a great deal of ad revenue from listing and recommending videos promoting a 5,000 BTC giveaway scam to its users. This reoccurring scam features Tesla and Spacex CEO Elon Musk and Virgin Galactic chairman Chamath Palihapitiya giving away bitcoin.

What Happens When Signing Up With Bitcoin Trader

News.Bitcoin.com signed up for an account with Bitcoin Trader to see how it really works. After providing a name, an email address, and a phone number, we were logged in without being asked to confirm our email address. The back end of Bitcoin Trader looks almost identical to other scams we have reviewed, such as Bitcoin Loophole.

A notice soon popped up in the middle of our screen, asking us to deposit funds, which must be done via credit cards: Discover, Mastercard, Visa, Maestro, or American Express. “Click the ‘Deposit’ button below and you will be transferred to the broker’s secure payments page in order to deposit funds into your trading account and to start reaping the full benefits of our software. Note that you will be required to complete an account verification process and to verify your identity,” the notice reads. The minimum deposit is $250 and “The deposited amount can take up to 72 hours to reflect in your account,” the website adds.

A section of the Bitcoin Trader dashboard lists the “current brokers.” In our case, a company called Marketfornow was listed. Clicking “deposit” or any other links to “get started” transferred us to Marketfornow’s website, which has five account levels ranging from $250 to $50,000. You cannot proceed unless you deposit at least $250. At this point, you will be dealing directly with this “broker,” which claims to be a Seychelles company focusing on forex and contract-for-difference (CFD) trading. Every link on Bitcoin Trader redirects to a page on the broker’s website.

Bitcoin Trader: Google Helps Scam Crypto Trading App Look Legit in Reviews
After signing up with Bitcoin Trader, you will be prompted to deposit funds with the broker Bitcoin Trader recommends, which in this case is called “Market For Now.”
Bitcoin Trader: Google Helps Scam Crypto Trading App Look Legit in Reviews
Alleged broker affiliated with Bitcoin Trader, “Market For Now,” will ask you to deposit at least $250 to begin trading.

To find out which other companies are associated with Bitcoin Trader, news.Bitcoin.com signed up with the scheme a second time. The listed “current broker” this time was called “Interactivetrade,” whose website states that it is owned and operated by Dristor Solutions Ltd., a company supposedly located in Saint Vincent and the Grenadines. Several reviews online also warn that this offshore broker is a scam.

A review website, Thatsucks.com, was redirected to a different broker when reviewer Martin Kay signed up with Bitcoin Trader. He got sent directly to the cashier page on Optionstars where he was prompted to make a deposit. After navigating the Optionstars website and seeing no evidence of a robot or autotrader, he concluded: “Is the Bitcoin Trader a scam? Yes. It is.” He also concluded that Optionstars, a supposed broker headquartered in Samoa, is also a scam.

These so-called brokers claim to specialize in CFD trading, which carries very high risk. A large number of scams have been known to target CFD trading specifically and many authorities have advised how to recognize them. The North American Securities Administrators Association (NASAA) warns: “If you are solicited by a company that claims to trade in CFDs and asks you to invest funds, you should be very careful … Get rich schemes, including those involving CFDs, tend to be scams.”

Anyone looking for investment opportunities involving cryptocurrencies needs to take extreme caution as many online scams may appear legitimate. They may even have fake licensing information as well as a fake address but any funds sent to them are not likely to be seen again.

What do you think about Bitcoin Trader? Let us know in the comments section below.

Image Credits: Shutterstock, Pixabay, Wiki Commons, Bitcoin Trader, Marketfornow, AP News

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

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Carl Watner: The Tragedy of Political Government

Carl Watner: The Tragedy of Political Government

“What is tragic about political government?” you might ask. Let us return to that question once we have examined the nature of political government and the State. In order to distinguish between government and other institutions in society we must look at the ways human behavior can be organized and human needs and desires satisfied.

Carl Watner: The Tragedy of Political Government
**The following essay was written by Carl Watner and published in 1996. “The Tragedy of Political Government” was originally published on various websites; including voluntaryist.net and is reprinted here on Bitcoin.com for historical preservation. Carl Watner approves of the reprinting of his articles under public commons. The opinions expressed in this article are the author’s own. Bitcoin.com is not responsible for or liable for any opinions, content, accuracy or quality within the historical editorial.**

There are only two ways: peacefully or coercively. There are no other alternatives. If people rely on peaceful cooperation, they must necessarily offer products or services for which other people are willing to trade. If people use coercion or fraud, we call it obtaining goods or services under false pretenses, robbery, or larceny. However we label it, the basic contrast remains the same: one relies on voluntaryism or one relies on force.

A stranger knocks at your door and, upon opening it, he requests money He represents the March of Dimes, and is asking for donations to support its activities. Unless you feel generous, you dismiss him. You have no particular obligation to support his cause, and the fact is you have already contributed to other charities, such as the United Way. Unless the stranger is a blatant thief, he leaves. He doesn’t deal with you by using force, or its threat, to collect the money he is soliciting.

Compare this to what happens every April 15th in the United States. Granted, most “good citizens” send in their tax payments to the Internal Revenue Service. The IRS does not need to send out a representative to collect the tax; and if there is any need to do so, he generally needn’t carry a gun or make any direct display of force.

Why don’t people dismiss the IRS in the same manner as they would the solicitor who is collecting for a private cause? Many would, except they know that there is a big difference between the March of Dimes and the IRS. The March of Dimes organization is a group of private individuals assembled together for the common purpose of overcoming polio, muscular dystrophy, and birth defects. They do not use force, or the threat of force, to accomplish their goals. Should they, we would have no hesitation in calling the March of Dimes, and its solicitation agents, criminal.

Carl Watner: The Tragedy of Political Government

The IRS, on the other hand, represents the government, which – when all else fails – uses force to accomplish its goals. If you do not voluntarily pay your taxes, your property is confiscated, or you are jailed. The amazing thing about our government in the United States is that it rarely has to resort to force. There are tax resisters, but they form a small percentage of the population. Except for these few people, no one calls IRS agents criminals even when they brandish guns, confiscate property, or put people in jail. Despite the fact that they engage in the same type of behavior as the private thief or kidnapper, it’s seldom that their behavior is called criminal. Why is this so?

Government is the only institution in our civilized society that is able to cover its coercion (and its use of threats) in a shroud of mystique and legitimacy There are other individuals and groups in society that use force: individual criminals (the lone burglar, rapist, etc.), and groups of criminals (the Mafia or gangs of thieves, etc.). But none of these claim their activities are proper and useful. Government is the only one of these coercive groups that claims its use of force is legitimate and necessary to everybody’s wellbeing.

Government is the institutionalization of conquest over the people and property in a certain territory The stated purpose of government is protection. In reality it is exploitation: to extract resources which otherwise would not be voluntarily handed over to the governors. Governments excel in the use of force and threat – the political means of survival – by combining military conquest and ideology. Though throughout history, governments have been of many different types, their reason for being and modus operandi have never changed. Governing requires that those who govern authorize or commit criminal acts, – actions which, if used by any but the agents of the government, would be deemed criminal.

Governments seek the voluntary obedience of their populace. The continual use of physical force is not only expensive, but often of uncertain results. If the governors can get the governed to accept their conquest as being consistent with widely accepted norms and standards, there is little need to use raw force to continually compel submission. The primary tools which governments use to establish their legitimacy are:

  1. the use of nationalism and patriotism to inculcate the belief that the entire nation is a single community with a manifest destiny;
  2. the use of mass public “education” to socialize the younger generation and instill “acceptable” values in them;
  3. the use of psychological warfare to “brainwash” the populace into supporting the government at all costs.

Carl Watner: The Tragedy of Political Government

The truth of the matter is that governments use every means at their command to insure their control over society. Other methods include support of special interest groups with legislation and subsidies, celebration of national holidays, frequent elections, use of the secret ballot, sustaining foreign enemies to help maintain internal control, and the full panoply of patriotism.

The main tragedy of political government is that few people realize it is an immoral and impractical institution. Nor do they realize “that the power of any government is dependent on the cooperation of the people it governs, and that government power varies inversely with the noncooperation of the people.” They have been conditioned to accept government as a natural part of their environment. After being raised in a culture in which “politics” is the norm, and after attending years of public school and being taught that political government is a necessary component of society, most people place government in the same category as the weather – something they complain about, but can’t change. As people accept the structural trap called politics, they fail to realize that their actions support and undergird the State. Their demand for government services – from Social Security benefits to police protection – is what fuels the State.

Most people are capable of high values and responsible behavior, but once they enter the seductive garden of politics, they no longer notice that its wonders cannot be reconciled with individual responsibility and their own personal moral values of honesty and hard work. It is not usually apparent that what they are doing or supporting is vicious and would not pass the test of ordinary decency. So long as the criminality is veiled by the political process, most people accept it because they do not see that it conflicts with their basic values.

The main tragedy of political government is not only that the voters are the ones pointing the gun, but, most importantly, that the indecency of this act is concealed from them by the political process. It is the concealment that is the tragedy. The concealment is not the result of some conspiracy by some distant elite: it is inherent in the political process.

Perhaps the tragedy can be made more plain. Look at the daily news. At least half of every day’s news consists of accounts of one pressure group or another noisily appealing to the government for greater support of its special agenda. The tragedy is that the people making the demands do not perceive that it’s their own neighbors from whom they are stealing and sacrificing in order to support their special programs.

Carl Watner: The Tragedy of Political Government
If you are interested in learning more about Voluntaryism and the writings of Carl Watner, Murray Rothbard, Wendy McElroy, and many others check out Voluntaryist.com, Mises.org, Fee.org, and AEIR.org.

The political process -purposefully- is an impersonal one. The secret ballot and the use of majority vote obscure the fact that it is the struggling family next door or the bachelor down the street who are being threatened at gunpoint if they do not fill the government’s coffers or follow its mandates. The resources for every government program come from hundreds of millions of people across the United States – most of them personally unknown to those who campaign for these programs. Few people would directly confront their neighbors with such demands (“Your money or your life!”), but the structure of politics permits this to be done anonymously, and allows the supporters and perpetrators to conceal – even from themselves – the evil nature of what they are doing. Such is the tragedy of political government.

What do you think about Carl Watner’s essay? Let us know what you think about this subject in the comments below.

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Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

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Bonus Army, Occupiers, 2020 Uprising: Bitcoin’s Peaceful Protest Is Pure Civil Disobedience

Bonus Army, Occupiers, 2020 Uprising: Bitcoin’s Peaceful Protest Is Pure Civil Disobedience

For twelve days straight, American citizens and a number of countries around the world have been protesting the oligarchs and police brutality. The restlessness from the uprising has slowed down some, but continues in various cities across the nation. On June 3, 2020, a reporter from Los Angeles talked to a man about the protests and he said the powers that be are not listening to people, and the best form of protest is to purchase bitcoin.

Henry David Thoreau: ‘That Government Is Best Which Governs Least’

The United States is suffering and what it’s like in 2020, is a far cry from the country’s initial days in 1776. In 2020, the American people have been smashed down and kicked so much, the revolution that took place a few hundred years ago seems to be a lost cause. Americans have lost their will to resist the government’s fraud and manipulation, instead of listening to the great writings of people like Henry David Thoreau. The well known liberty advocate wrote in 1849 that the “government is best which governs least,” and he added, “I should like to see it acted up to more rapidly and systematically.” Instead, hundreds of years later the massive government and overbearing politicians have become a systemic infection on the American populace.

Bonus Army, Occupiers, 2020 Uprising: Bitcoin's Peaceful Protest Is Pure Civil Disobedience
Barack Obama’s America.

Unfortunately, people think that if they vote and remove Donald Trump from office, things can heal again. However, nearly every President in my lifetime, for the past 40 years, has been an aggressive war tyrant and they created militant police forces to quell uprisings. Between Bush Sr. and the Clinton era presidencies – 576,000 innocent children died. During the George W. Bush presidency, he orchestrated some of the worst wars in the Middle East and desecrated thousands of civilians. Following Bush, the American populace thought “change” was coming, but instead of bringing peace Barack Obama ordered “double-tap” drone strikes. These strikes destroyed first responders in various countries and the warfare was in express violation of the Geneva Convention. Barack Obama never repealed the Patriot Act, even though he promised he would before he was elected. Also, a 16-year old child from Yemen lost his life because of Obama’s playtime with drones. Donald Trump’s administration followed suit by killing the Yemen boy’s eight-year-old sister.

Smashing Down Occupy and Dismantling the Bonus Army

Just the other day, people complained that Trump allowed soldiers and police to squash the protests in D.C., but Obama also did the same. For instance, on June 4, 2020, protesters took over the Brooklyn Bridge and police did nothing. But on October 1, 2011, protesters took over the Brooklyn Bridge and police arrested 700 out of the 1,500 demonstrators. Americans who do their research understand that Obama helped militarize the police. Joe Biden, the Democrat who wants to be the next President, also helped too with the penning of the controversial “Tough on Crime Act.” Obama also signed the NDAA on Xmas Eve 2013. The NDAA law allows the federal government to imprison and assassinate any American citizen without trial and without charges. In fact, Barack Obama didn’t even mention the Occupiers once during press briefings and made a brief comment about the 98%, while American police tear-gassed, shot rubber bullets, and pepper-sprayed thousands of protesters.

In October 2011, 700 protesters out of 1,500 were arrested. During the Occupy Wall Street protests, Barack Obama did not address the American people about the situation and allowed police brutality throughout all the demonstrations across the nation.

But this is not the first time Americans were treated so unfairly with extreme force and violence. Not too many people know, but after World War 1, around 17,000 veterans who served went to Washington D.C. and started a movement called Shanty Town, sometimes called “Hooverville.” The soldiers wanted their money for all the time they spent in Europe, but instead, they were offered credit. When this happened to the former troops grew extremely upset, and the American Legion got them to move on Washington D.C. For a while, the vets were ok with the credit system the government came up with, but after the crash of 1929 many vets were unemployed. They wanted their money as soon as possible. So a large group formed called the “Bonus Army” and out of 17,000 soldiers owed money, family members, and friends also joined them to protest Washington D.C. for not paying them for time served in Europe. 17,000 quickly became 43,000 people in a matter of days. The protesters then formed Shanty Town. The White House at first, offered Shanty Town leaders roughly $10,000 to leave the White House lawn and Anacostia Flats. Reports also note that some soldiers took the money and left, while the majority stayed to protest.

The Bonus Army also took to the streets and headed to the White House for protest. Unfortunately, former President Herbert Hoover used police and military force to remove them.

DC Police and Infantrymen Injured 1,000 WWI Veterans

By July, the encampment was running out of food and was in turmoil. Because of the rotten $10k deal, Attorney General William Mitchell ordered D.C. police to disrupt the protesters. At the time, Waters felt he had been “double-crossed” by the men who took some of the money. So after the police arrived, the veterans fought back and the D.C. police fired rounds into the crowd. Two WW1 veterans were slain that day. Eric Carlson and William Hushka were shot dead because of Washington D.C. police. At this time, President Herbert Hoover was not pleased with the outcome and he ordered the military to remove the protesters. The battle was now between the current military versus World War 1 veterans. Ugly, atrocious men that the country still worships today, Major George Patton and General Douglas MacArthur moved in on the protesters with tanks and hundreds of army members. Many of Patton’s and MacArthur’s men had bayonets attached to their rifles when they moved in on the crowd. The newspapers at the time recounted the entire Bonus Army experience.

“Cavalrymen and infantrymen jerked gas masks out of their haversacks,” the Baltimore Evening Sun reported at the time. “The spectators, blinded and choking with the unexpected gas attack, broke and fled. Movie photographers who had parked their sound trucks so as to catch a panorama of the skirmish ground away doggedly, tears streaming down their faces,” the paper read.

By the end, Patton’s and MacArthur’s troops destroyed Shanty Town.

Following the Shanty Town members fleeing the scene, Patton’s tanks crushed Shanty Town and most of the protesting vets had fled via paths near the Anacostia River. At that time, President Hoover told MacArthur’s and Patton’s troops to stop. However, MacArthur didn’t like the President’s order and 1,000 men suffered injury from MacArthur’s military onslaught and another veteran died.

By 1933, Franklin D. Roosevelt (FDR) through Executive Order stole people’s gold and initiated the banking holiday. At the time the President basically gave JP Morgan and his gang keys to the castle. That same year, the Bonus Party formed again, trying desperately to get their money. Roosevelt wasn’t keen on paying them, but he did allow them to set up camp. People still love FDR to this day, but by 1936 when Congress passed a bill that would finally settle up with the vets, the so-called ‘hero’ FDR vetoed it. Congress finally overrode the Presidential decision and the Fed’s finally shelled out $2 billion in World War 1 payments, while the country was about to enter WW2.

LA Protester: My Natural Solution for the Problem Is for Everyone to Opt-Out and Exit the Economy

American citizens have been tread on enough and 2020 is no different. Over the decades, various movements have been destroyed and dismantled by U.S. politicians and police force. On June 3, 2020, a man was being interviewed by a reporter and he told the journalist that the only way to move forward is to opt-out.

“Unfortunately we live in a system that doesn’t allow us to thrive or strive and has continually been literally on our necks,” the man said. “My natural solution for this problem is for everyone to opt-out and exit the economy and the way to do that is by buying bitcoin.”

The person who was interviewed in L.A. understands that the only way the populace can win is by not playing the game. Bitcoin is a peaceful protest, and we’ve known for decades on end the political class has not changed and will not change. You see instead of a few weeks, months, or a couple of years of demonstrations in front of statehouses and the white house, cryptocurrencies allow you to protest peacefully all the way until the goal is complete. Government power can end as fast as the populace wants it to, by simply removing its control over our monetary system.

Right now the monetary system doesn’t work for everyone and it only benefits the sociopaths in government and the world’s 1%. Again the best way to protest the fraudulent and manipulated money system is to join the crypto economy. Systemic oppression stems from the nation state’s money system and it continues to bolster wealth inequality. All the money that goes into the crypto economy is essentially taking away power from all the nation-states and the fiat currencies they issue. Participating in leveraging bitcoin and the counter economy is nonviolent and you won’t get hurt or arrested by joining. You don’t have to be afraid of the mob, gunfire, rubber bullets, tear gas, or looting. What’s worse for protesters on the streets today, is the fact that the police are so militant thanks to Obama and the NDAA he signed years ago. Making matters even worse than that, is that the New York Supreme court ruled that protesters can be detained indefinitely. Civil rights activists are calling it a “suspension of habeas corpus” and it is not a good sign for American demonstrators.

Stop Using the Government’s Money and Practice Civil Disobedience

The protests are showing the American people are angry, but they are really not accomplishing much of anything by marching and demonstrations. Many observers think that the protesters are just making it worse and there are better ways to avoid the system. What could politicians really do if millions decided not to pay taxes? What could they do if the majority decided to opt-out of elections and voting, decided to stop using U.S. dollars, and once and for all choose to stop listening to the bureaucracy? They could not do anything because politicians would be powerless. This is exactly why bitcoin and the crypto economy is just one way, citizens from all around the world can escape the injustices of totalitarian governments.

Using bitcoin and a variety of other digital currencies allows people to opt-out of a corrupt and fraudulent monetary system.

“The authority of government, even such as I am willing to submit to — for I will cheerfully obey those who know and can do better than I, and in many things even those who neither know nor can do so well — is still an impure one: to be strictly just, it must have the sanction and consent of the governed,” Thoreau concluded in his essay “On the Duty of Civil Disobedience.” Americans and the rest of the citizens residing in many countries on earth have a duty to keep civil disobedience thriving, and bitcoin is an excellent way to make sure that goal is bolstered.

What do you think about bitcoin as a form of peaceful protest? Let us know in the comments section below.

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Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

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Virtual Assets Unleashes Retail Cash Reload Innovation for Purchasing Cryptocurrency

Virtual Assets Unleashes Retail Cash Reload Innovation for Purchasing Cryptocurrency

Instantly add cash to your Crypto Dispensers account with Green Dot @ the Register

Chicago, IL – Virtual Assets, LLC is pleased to announce that it has entered into an agreement with Green Dot Corporation (NYSE:GDOT) to enable customers to purchase cryptocurrency with cash. This new service leverages Green Dot’s mobile and web-enabled barcode generation system and thousands of Green Dot retail locations to provide a new cash-loading option for purchasing major cryptocurrencies. Through this integration, users will now be able to securely and conveniently add cash to their Crypto Dispensers accounts at thousands of participating retailers.

Crypto Dispensers, an online cryptocurrency exchange platform provided by Virtual Assets, has started to invite users to register on their new website. The site has been designed to offer investors an innovative medium to purchase major cryptocurrencies, such as Bitcoin, Ethereum, and Litecoin, with fiat money. Created with the user experience in mind, the site will allow verified customers to fund their accounts with cash by visiting any participating retailer in the country.

“We’re reinventing what people can do with their cash,” says Firas Isa, Founder of Virtual Assets, creator of the Crypto Dispensers online site. Utilizing Green Dot’s innovative cash reload network, our customers can now load their accounts with cash. Once the cash has been loaded, our customers can buy and transfer cryptocurrency instantly from their desktop or mobile browser. We are thrilled to enable people from all walks of life to invest in crypto quickly, securely and conveniently.”

As the name implies, “Green Dot @ the Register” allows users to fund their Crypto Dispensers account by simply going to the register at any participating retailer. After scanning the customer’s barcode, the cashier collects the cash the consumer wishes to load to their Crypto Dispensers account, along with any applicable reload fees. The retailer’s terminal is connected to Green Dot’s data processing center, where Green Dot can see the transaction in real-time, allowing Crypto Dispensers to automatically credit loaded funds to the customer’s account.

To load your Crypto Dispensers account, simply follow these steps:
Register by verifying your identity at www.cryptodispensers.com

Load between $20 to $500 using the barcode for a fee of up to $4.95.
The credit will appear in your account at the next login within 10 minutes.
Add a cryptocurrency wallet address to your account.
Use the credit to instantly buy and send cryptocurrency.
Reload and repeat.

“The process for purchasing cryptocurrency at participating Green Dot @ the Register locations is not only simple, but also much safer and more secure than using traditional Bitcoin ATMs,” Isa states. “Ultimately, this integration breaks down entry barriers to digital money and creates greater financial opportunities for hardworking individuals.”
Green Dot @ the Register is available at more than 24,000 retailer locations, a comprehensive list of which can be found by visiting the new Crypto Dispensers website. Virtual Assets is also currently coordinating with additional retailers to further expand their new service.

For more information about Crypto Dispensers, or to locate a participating retailer near you, please visit https://www.cryptodispensers.com.

About the Company
Virtual Assets is a cryptocurrency exchange company based in Chicago, IL with a mission to contribute in the effort of taking cryptocurrency mainstream. Through this new partnership users will now be able to instantly add cash to their Crypto Dispensers accounts to buy and send cryptocurrencies at thousands of participating retailer locations across the country. 

Contacts
Virtual Assets, LLC

Investor Relations
Firas Isa, 708-879-9344
IR@cryptodispensers.com

Supporting Link
https://cryptodispensers.com/


This is a press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release.

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Armoney Recommends Only the Following Cryptocurrencies in India

Armoney Recommends Only the Following Cryptocurrencies in India

So, what is cryptocurrency?

It’s an internet medium to exchange funds between individuals or corporations to conduct financial transactions. An individual becomes a bank and has control over his own money. Post-COVID will be the beginning of an online transaction era, without the need to go to a bank or touching cash (I owe you) paper money. As cryptocurrency is not “I owe you” it is “I own it”.

Why is cryptocurrency better than owning any other assets?

Can you take your stocks to another individual and buy groceries or dine in or book tickets and do online shopping?

Can you take 13 or 157 or 443 or whatever of number of grams, you break a brick of 1kg of gold and do the above trade… first, the buyer will take it to test and scratch gold to test the purity to justify whether it’s 12ct or 14ct or 18ct or 22ct or 24ct! Let alone the time it took to just find one who first hammers the perfect gold out of the brick.

And the same goes for cash! Rs.2000 or Rs.500 or try stacking Rs.100 notes in your pocket to buy months groceries. Imagine that!

Also, various forms of digital payments are available in India. Many advertisements these days are advising the public to use digital forms of payments, they have a lot of common with the nature of cryptocurrencies but, the fees they charge, freedom of withdrawal, and stability are not intriguing.

There are over 5000 cryptocurrencies globally but Armoney recommends only the following to be bought, traded, exchanged or HODLed in India:

Bitcoin (BTC) = Undeniably the best-known Cryptocurrency that has made many millionaires, very volatile and speculative in nature, due to being the first cryptocurrency it’s traded the most globally hence keeping the network secure. Processing time = 10 to 60 minutes

Bitcoin Cash (BCH) = Very much advanced than its parent Bitcoin, BCH has faster processing than Bitcoin and cheaper transaction fees, Processing time = 10 to 60 minutes.

Ethereum (ETH) = This is a very interesting cryptocurrency due to being an open-source its used for the development of various applications and broadly for trading & speculative purposes. Processing time = 6 minutes

USDC (USD coin) = It’s backed by real USD from the largest crypto exchange in the world Coinbase. Processing time = 6 minutes

Litecoin (LTC) = Another cryptocurrency that’s basically was made as a competitor to Bitcoin for peer to peer transfer. Its transaction speed is faster than Bitcoin. Processing time = 30 minutes

Ripple (XRP) = An institutionalized cryptocurrency used by institutions for cross border payments within minutes. The most advanced blockchain technology that has now been adopted by many banks, corporations, and institutions. Processing time = 1 to 5 minutes

If you’re looking to buy, sell or trade any of the above crypto assets, make sure you choose Armoney.com the most secure reliable exchange in India.

Armoney also includes the following features that we think you’ll like:
Cheapest trading fees and No fees on deposits & withdrawals
Proprietary liquidity, KYC, AML, and Bank account verification systems
Support desktop, mobile, and desktop trading
Focuses on premium design and ease of use
Supports INR paired crypto assets

Has 24/7, fast human support if you ever need help!

Contact Email Address
manu@armoney.in

Supporting Link
https://armoney.com


This is a press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release.

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Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

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Patoshi Researcher Says “Altruistic” Satoshi Will Never Spend His 1.1M Bitcoin

Patoshi Researcher Says “Altruistic” Satoshi Will Never Spend His 1.1M Bitcoin

Bitcoin founder Satoshi Nakamoto will never spend his “1.1 million bitcoins” because he is altruistic, Patoshi Pattern researcher Sergio Demian Lerner has said.

The Patoshi Pattern exploits privacy flaws of an early protocol, v.01, to identify blocks possibly minded by Satoshi Nakamoto. Lerner said the Bitcoin creator is unlikely to use his coins, which have not moved since 2009, as a fair basis for the inception of the cryptocurrency.

During a recent Ask-Me-Anything (AMA) session on Reddit, Lerner tied his assumption to the fact that the 1.1 million BTC attributed to Satoshi has not moved in over a decade. Lerner said:

Assuming Satoshi is Patoshi, I believe, based on the past history of Satoshi coins, that Satoshi won’t use his coins ever. Therefore, I think that there couldn’t be a fairer and a more altruistic way for Bitcoin to be born.

Screenshot of the Patoshi blocks as documented by RSK chief scientist Sergio Demian Lerner.

The Bitcoin community invoked the Patoshi Pattern research in May, to attribute 50 BTC mined during the early days of Bitcoin but suddenly moved last month to the anonymous founder of the cryptocurrency. Lerner played down the speculation, arguing that the block responsible for the 50 BTC fell outside blocks mined using the Patoshi Pattern.

In the AMA session, Lerner claimed to have more leads in the Patoshi Pattern, but said will not pursue the research further. “I don’t want to dig any more into that matter and I feel I contributed enough to the transparency of Bitcoin. Digging more may be entering Satoshi’s privacy area,” he said.

Lerner also addressed how he designed the second layer Bitcoin protocol, RSK, during the session. He revealed that it took several years to uncover nuances that form the basis of his pattern.

The Patoshi Pattern relies on the assumption that Nakamoto mined in the early days of Bitcoin to validate his concepts, and that he mined using v.01 of the Bitcoin Code. Ninety-nine of the blocks tentatively attributed to Satoshi are unspent, setting them apart from blocks mined by the same pattern during the same period.

Lerner further argues that the pattern for blocks that fall within the Patoshi Pattern often ended suddenly and resumed at the point of interruption. The unlikelihood of coordinated interruption ties the blocks to one miner, and the non-movement of the coins can be attributed to Satoshi’s founder altruism.

The researcher, however, remains conservative with respect to the identity of the miner, despite advancing a strong case for Satoshi. He maintains that his research only arrives at a “Patoshi,” who may or may not be Satoshi.

What do you think about Lerner’s assertions? Let us know in the comments section below.

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Fed Chair Jerome Powell Discusses Leveraging an Ethereum-Based Libor Replacement

Fed Chair Jerome Powell Discusses Leveraging an Ethereum-Based Libor Replacement

The Federal Reserve’s Chair, Jerome Powell has hinted at using an Ethereum-based interest reference rate in a transition from the London Interbank Offered Rate (Libor). Powell also detailed in a letter to Senator Tom Cotton (R-AR), that the Ethereum version of Libor, a software called “Ameribor” may not be for everyone.

The United States Federal Reserve has expanded a great deal since the start of the coronavirus outbreak and a few months prior as well. This week a letter to Senator Tom Cotton from Fed Chair Jerome Powell indicates the Fed is contemplating using Ethereum for interest reference rates.

For instance, the Fed and many other international central banks leverage Libor, a benchmark interest rate where a great number of global financial incumbents use to lend funds to each other and clients.

Fed Chair Jerome Powell Discusses Leveraging an Ethereum-Based Libor Replacement

However, the public is well aware of the “Libor scandal,” a theory that claims that banks and Libor were manipulating rates in order to fleece the populace. Banks are supposed to submit realistic interest rates to Libor, but the organization and member institutions are accused of manipulating the benchmark rates since 1991.

“The way the inter-bank, or Libor, interest rate is set is no longer fit for purpose,” explained a written review by the Financial Services Authority. The megabank Barclays was one of the big name banks accused of messing with the Libor rates.

Powell suggested Ameribor which is a similar tool designed by the American Financial Exchange (AFX) and the system leverages Ethereum to make sure the rates are reliable. Essentially there is the use of nonfungible ERC721 tokens that represent payments services and settlement.

Fed Chair Jerome Powell Discusses Leveraging an Ethereum-Based Libor Replacement
A flowchart showing how the Ethereum-based Ameribor works.

In the letter to Senator Tom Cotton, Powell explains a few of the benefits tied to using AFX’s Ameribor system for the benchmark rates. Although, Powell said that he doesn’t think Ameribor would be a “natural fit” for everyone in the market.

“While it is a fully appropriate rate for the banks that fund themselves through the American Financial Exchange or for other similar institutions for whom Ameribor may reflect their cost of funding, it may not be a natural fit for many market participants,” Powell wrote.

The Fed Chair did note that “Ameribor is a reference rate created by the American Financial Exchange based on a cohesive and well-defined market that meets the International Organization of Securities Commission’s (IOSCO) principles for financial benchmarks.”

The letter doesn’t say whether or not the Fed will officially leverage Ameribor over Libor. However, the crypto community seems to enjoy the idea that the Fed is contemplating using the Ethereum-based product. The AFX-blockchain product has been operating since it was first announced on November 22, 2019.

“American Financial Exchange (AFX), an electronic exchange for direct lending and borrowing for American banks and financial institutions, the official Ameribor announcement detailed at the time. “AFX now mints two ERC721 non-fungible tokens for each Ameribor transaction on the AFX platform (for each counterparty to the transaction),” AFX added.

What do you think about the Fed contemplating using Ethereum-based Ameribor? Let us know in the comments below.

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Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

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Report Shows Crypto Derivatives Volumes Soared 32% to a Record $602 Billion in May

Report Shows Crypto Derivatives Volumes Soared 32% to a Record $602 Billion in May

Cryptocurrency derivatives trading volumes climbed 32% in May to a new record high of $602 billion, according to data analytics company Cryptocompare.

Total spot volumes grew at a slower pace, rising 5% to $1.27 trillion in May, the London-based firm said in a new report published June 4, 2020.

The figures show increasing investor interest in trading derivatives – contracts signed by at least two people to buy or sell a digital asset at an agreed price in the future. For the review month, derivatives market share rose to 32% compared to 27% in April.

May’s all-time-high represents a slight increase over the previous record of $600 billion in March.

Cryptocompare notes that bitcoin (BTC) derivatives saw large increases in trading volume last month, with institutional player Chicago Mercantile Exchange (CME) rising fastest at 59% to $7.2 billion.

However, Huobi accounted for the largest trade volume of $176 billion, up 29% month-on-month followed by Okex and Binance with $152 billion and $139 billion trades’ worth, respectively.

Hong Kong-based Bitmex traded $94.8 billion, up 37% since April while trades at Deribit soared 22% to $13.4 billion.

Institutional options volumes on CME reached a monthly record of 5,996 contracts, up sixteen-fold from April. The regulated exchange also broke a new daily record on May 28, with trades of 1,418 Bitcoin options contracts. Derebit’s options volume spiked 109% in May to $3.06 billion.

CME’s futures contracts also gained by 36% in May, to volumes of 166,000.

Per the report, spot trading volumes surged sharply a day before the third halving, reaching $64.7 billion on May 10. But this fares lowly compared to the volume spikes of $66.2 billion on April 30, and that of $75.9 billion on March 13, a day after the Black Thursday BTC crash.

Cryptocompare said the bulk of spot trading happened on exchanges it considers low-tier and unregulated, accounting for $49.88 billion of the volume while top-tier exchanges traded $14.86 billion.

What do you think about the growing derivatives trading volume? Let us know in the comments section below.

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The Mysterious Satoshi Nakamoto Allegedly Leveraged a Russian Proxy for Communications

The Mysterious Satoshi Nakamoto Allegedly Leveraged a Russian Proxy for Communications

4,171 days ago in 2009, Satoshi Nakamoto invoked the Bitcoin network after sharing the white paper with people since Halloween 2008. Just recently, it has been discovered that Nakamoto leveraged a Russian proxy to obfuscate his whereabouts and the inventor used the proxy back in January 2009. For quite some time now, armchair sleuths have been finding interesting clues within Bitcoin’s earliest codebases.

Satoshi Nakamoto and Ties to a Russian Proxy

The Satoshi Nakamoto mystery is like a holy grail of sorts, for a large number of cryptocurrency advocates. People have tried to hunt him down for well over 11 years now, and to this day no one knows his true identity. Just recently online detectives have discovered in the first version of Bitcoin (v0.1.0), Satoshi Nakamoto allegedly used a Russian proxy to hide his location and identity. The clues can be found in the file “irc.cpp” and line 212 is leveraged in a way where the proxy is hidden by a cipher.

The Mysterious Satoshi Nakamoto Allegedly Leveraged a Russian Proxy for Communications

After the discovery, people have been discussing a variety of theories as to why Satoshi may have used a Russian proxy. A proxy server is a tool that can be utilized to access web pages and networks without giving certain communications to the server. A proxy can also be leveraged to create a false IP address location. For instance, a person from China might leverage a EU-based proxy, in order to bypass the Great Firewall in the country. It is quite possible that Satoshi used the Russian proxy because he was located inside Russia’s borders. But it is more likely he was outside of Russia’s borders and he used the proxy to hide from Western intelligence services or the Five Eyes (FVEY).

Satoshi’s Alleged West Coast IP Address

A number of findings have been discovered as far as Satoshi’s original code is concerned. There is one theory that indicates Bitcoin’s inventor may have been in California. One clue we have is how back in January and February 2009, Hal Finney and Satoshi communicated together while working on the Bitcoin alpha codebase using an IRC.

At the time, Hal discovered an error in the code and he posted the vulnerability in the mailing list with a debug log. In the earliest versions of Bitcoin, the software included IP addresses within the debug log. The log on January 10, 2009, shows that there are three IP addresses available and one stemmed from Hal Finney.

The Mysterious Satoshi Nakamoto Allegedly Leveraged a Russian Proxy for Communications

Finney’s IP shows that his location was in California where he resided for years, while Satoshi’s IP and the unknown IP address indicates that the inventor’s location at the time was possibly Van Nuys, California. What is interesting is that the discovery from Van Nuys was not a Tor exit node, and it indicates that Satoshi was likely in Van Nuys on the 10th of January 2009.

Even though Satoshi Nakamoto wrote his words with double spaces and wrote like he was from the UK, for the first few months during Bitcoin’s launch many people have assumed he was on the West Coast in the United States. Unfortunately for Hal Finney and his family, as well as Dorian Nakamoto and his family, the California clues have made it so their private lives have been invaded on various occasions.

The Mysterious Satoshi Nakamoto Allegedly Leveraged a Russian Proxy for Communications
The virtual poker game inclusion.

Timechain, Virtual Poker, Coin, and Sergey’s Hotel Reviews

Bitcoin v0.1.0 and the earliest versions of Satoshi’s codebase, also has a number of other interesting factoids. Many people have discussed the fact that Satoshi had given copies of the original codebase to others, prior to the January 2009 launch. On November 17, 2008, Satoshi’s writings indicated that he had given the software to a pseudonym named “James A. Donald.” The source code was also reportedly distributed to Bitcointalk.org member “Cryddit”

The Mysterious Satoshi Nakamoto Allegedly Leveraged a Russian Proxy for Communications
Early codebase – Bitcoin (v0.1.0).

Early versions of Bitcoin show that Satoshi used the words “coin,” “cent,” “timechain,” and “miners.” Satoshi named Bitcoin’s smaller units a “coin” (1,000,000) and “cent” (10,000) rather than “satoshis,” the term most people use today. Early code also shows Satoshi wanted bitcoin to have a virtual poker game and marketplace built within the codebase.

The Russian proxy evidence indicates that the user may have been named “Sergey,” and the individual also used the Russian proxy for hotel surveys. Despite the recent discovery, not everyone believes Satoshi used a Russian proxy and the theories that suggest he did. Just like a great number of the Satoshi Nakamoto theories, the Russian proxy story was quickly dismissed by well known individuals within the cryptocurrency ecosystem.

What do you think about reports that are saying Satoshi Nakamoto leveraged a Russian proxy? Let us know what you think in the comments below.

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Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

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India’s Crypto Trading Volume Soars Amid Economic Crisis

India’s Crypto Trading Volume Soars Amid Economic Crisis

Despite the economic crisis, cryptocurrency trading platforms in India are reporting record-breaking volumes and new users. “People in India are betting big on bitcoin,” Paxful’s CEO said. “The Indian market holds great potential and importance for the future of the crypto-economy.”

Record-Breaking Growth Across the Indian Crypto Industry

Cryptocurrency trading volume has been growing by leaps and bounds across many exchanges in India despite the coronavirus pandemic and economic crisis. Peer-to-peer (P2P) bitcoin marketplace Paxful announced Thursday its record-breaking performance in India.

From January to May, Paxful reported an increase of 883% in bitcoin’s trading volume over the same period last year, from approximately $2.2 million to $22.1 million. In May, the bitcoin trading volume on the platform was $6.2 million, a 41% increase, and new user signups increased by 12% for the month. On a monthly average, new user signups increased by 28%.

India's Crypto Trading Volume Soars Amid Economic Crisis
P2P marketplace Paxful reported a significant increase in bitcoin trading volume on its marketplace in India. Global and local cryptocurrency exchanges are seeing a similar trend.

Recently, global cryptocurrency exchange Okex also revealed in a report that its “visits from India saw the highest increase, reaching 545.56%. According to Okex, newly registered users from India rose 4,100% during the same period,” the report states. “After the policy was loosened, the increase in trading volume was not only reflected in local exchanges, but also the major global exchanges.”

Several local crypto exchanges in India have independently told news.Bitcoin.com that they have been seeing huge growth in trading volumes and new users on their platforms, especially during the nationwide lockdown. The growth was fueled by the country’s supreme court quashing the banking ban by the central bank, the Reserve Bank of India (RBI), in March. Wazirx and Unocoin recently said their trading volumes increased 10-fold. Zebpay also saw substantial growth in trading volume and new users during the lockdown. Meanwhile, new crypto exchanges are launching in India, while global exchanges are expanding in the country and venture capitalists are investing more in Indian crypto startups.

Great Potential for the Indian Crypto Industry

Paxful detailed that it “sees India as a center for innovation and is excited to see the growth and contribution Indians will bring to the industry.” The platform, which recently expanded operations in India, aims to use cryptocurrencies to “expand the financial inclusion and fiscal independence of a new generation of Indians.” Paxful CEO and co-founder Ray Youssef commented:

The Indian market holds great potential and importance for the future of the crypto-economy. People in India are betting big on bitcoin presenting an opportunity for greater financial returns.

“We are actively focussing our efforts on bringing cryptocurrency to the masses across the nation to aid in the eradication of poverty, boost economies, and create jobs, especially in the post-covid-19 economy,” he continued.

The Indian crypto sector is flourishing despite the covid-19 crisis and severe economic conditions throughout the country. Former Finance Secretary Subhash Chandra Garg recently said that he expects the Indian economy to contract by 10% this fiscal year. Global rating and research agency CRISIL said last week that India’s worst recession is here, concurring with Goldman Sachs’ prediction that the current recession is the country’s worst.

What do you think about the growth of India’s crypto sector? Let us know in the comments section below.

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Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

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