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Bitrue adds DigiByte and IOTA to its platform with exciting airdrops

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Bitrue, an advanced crypto trading platform, has recently (only yesterday) added DigiByte (DGB) and IOTA against XRP. The highlight is Bitrue will be doing an airdrop for 300,000 DGB and 7,000 IOTA. Bitrue have also mentioned their trading rates for these coins being 0.048 percent, and the amount each user receives will be proportional to the total funds they hold in relative comparison to other Bitrue users.

Any BTR (the native token of cryptocurrency exchange) that is being held will be 1.5 times its value when the user accesses their total funds according to this calculation.

This announcement from Bitrue has already got most of the users excited. Bitrue is a leading global trading platform for cryptocurrencies and boasts offices across the world, and works based on a multi-threaded high-performance order matching engine.

Bitrue’s uptime stat’s are phenomenon, thanks to its exceptional decentralized structure and anti-DDOS protection systems. Regardless of device, Bitrue is supported across devices and platforms with extensive access to their account and support. Being launched only in July 2018, Bitrue sees phenomenal growth. It is led by the Curis Wang and a team of senior management executives from Captial one.  

Last year Bitrue had close to USD 65 million trading volume in 24 hours and took the 66th place in the cryptocurrency exchange platforms. However, it is still a long way from the big shots like OKEx and Binance, whose trading volume is around USD 2.3 billion within 24 hours.

Nevertheless, being located in Taiwan, Singapore, US, and Canda, Bitrue opens the scopes for US investors, and this could be a very positive point for its growth.

With their new trading rates that have dropped to 0.048 percent from 0.098 percent last year, this news could prove enchanting, especially with the airdrops offer. Bitrue does want to increase its followers and usage metrics to expand its market. Both are less compared to the industry average as below,

Take fee in Singapore on an average: 0.29 percent

Maker fee in Singapore on an average: 0.21 percent

Now getting to the withdrawal fee, Bitrue charges 0.0005 BTC, and that again is meager compared to the global industry average of 0.0000812 BTC, which gives Bitrue an advantage among the market. New investors aren’t welcomed well with Bitrue as it requires investors to have previous trading histories to use this platform. However, the security of Bitrue website has improved from a Grade F to C, within a span of six months from Oct 2018 to April 2019.

It is definitely good to grab the DigiByte (DGB) & IOTA airdrops with Bitrue and get on with your trading.

Disclaimer: The presented information is subjected to market condition and may include the very own opinion of the author. Please do your ‘very own’ market research before making any investment in cryptocurrencies. Neither the writer nor the publication (TronWeekly.com) holds any responsibility for your financial loss.

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DigiByte (DGB) releases a new version of its crypto wallet for Android users

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DigitByte is one of the fastest and secured blockchain technology that’s in the market for five consistent years. DGB claims it is 40x faster than Bitcoin and has the best-decentralized blockchain network in the market. In the last five years, it has set up several blockchains first, i.e., Segwit, DigiShield, DigiAssets, and MultiAlgo mining.

DigiByte (DGB) claims it is hack-proof, and users can store anything that is confidential starting from currencies, information, property, and documents.

Its blockchain is composed of three main layers: core protocol layer, digital asset layer, and application layer. The DigiByte wallet is available for Windows, Mac, Linux, Chrome, Android, and iOS devices.

DigiByte wallet for Android comes with a lot of features and perks. It comes with features like,

  • Simple payment confirmation

  • Fingerprint authentications

  • Import and restore from other phones

  • Server-less functioning

  • Personal retrieval key for backups

  • QR code scanning enabled

  • Currency conversion options

  • Digi-ID for swift and secured authentications

DigiByte has released its latest version 3.0.0 for android along with Odocrypt update. In this update, DigiByte has released the below-mentioned features:

  • Odocrypt support that allows users to re-sync just once.

  • Recurring payment options that will ask for user confirmation.

  • Daily payments are from 2-6pm the next day, weekly payments are by the first day of that week, and will be by the first day of the month for monthly payments.

  • Available for both sending and receiving.

  • 64 bit build supports is now live.

  • Dandelion++ support will now apply during transactions.

  • SMS sharing is fixed.

  • Supports Android version 19 and above, support for Jelly bean is not rolled out. Jelly Bean users can instead use DigiSweep.

DigiByte with this recent update has facilitated users in multiple ways, and the wallet helps in improvisation of payment management. Digitbyte’s iOS update can also be expected to go public soon; you can try the same using this testflight link. Apart from Android, DigiByte supports wallets for Windows, macOS, iOS, Linux, and ChromeOS that can be downloaded from their website (digibyte.co).

Digibyte and DigiAssets do take care of encryption, identity, notarization, immutability, and authentication offering ultimate security in fund transactions for users.

Disclaimer: The presented information is subjected to market condition and may include the very own opinion of the author. Please do your ‘very own’ market research before making any investment in cryptocurrencies. Neither the writer nor the publication (TronWeekly.com) holds any responsibility for your financial loss.

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Here is all you need to know about Cardano light wallet Yoroi 1.8 update

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Cardano (ADA) is a prime mention when it comes to cryptocurrency. Web-based wallets and extension based wallets handle ADA. Yoroi is a Cardano wallet, which was named after the ancient Japanese samurai armor which was made of leather and iron.

Yoroi is chrome based extension later developed by EMURGO considering the security loopholes in web-based wallets. EMURGO is a third generation blockchain, who developed Yoroi in partnership with IOHK.

Web-based wallets are not so secured, considering their norms to run a local copy of Javascript code to create the password and private key. Also, web-based wallets are prone to DNS hijacking, where people will be fooled to redirect toa dubbed site which is a clone of the original and chances of losing Cardano are vast. And in another scenario, people at times download a virus assuming it is Daedalus. But with chrome extension, it is entirely different and with better security.

Yoroi in Chrome provides rapid development, with entirely built APIs and it’s also very secure considering the fact it runs inside a sandbox. Also, with Chrome’s inspection options, this becomes simple. The mere difference between Yoroi and Daedalus is that the first one is a light wallet, meaning it doesn’t download the entire blockchain, but instead it connects to other trusted servers that contain the full blockchain copy.

Now with Yoroi being a very prime option when it comes to Cardano, EMURGO has recently released an update for this light wallet- Yoroi 1.8.

Yoroi 1.8 has been released for Firefox and Chrome (Auto Update).

The update comes with the following new features,

  • Function for adding Cardano (ADA) payment URL
  • Balance hidden option
  • A new warning message if the device has failed to connect to the server
  • Support for the Indonesian Language

If you are using Daedalus and yet to download this light wallet, do it now and it will auto-update to Yoroi 1.8.

Disclaimer: The presented information is subjected to market condition and may include the very own opinion of the author. Please do your ‘very own’ market research before making any investment in cryptocurrencies. Neither the writer nor the publication (TronWeekly.com) holds any responsibility for your financial loss.

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Ripple price surges as Bitcoin continues to recover

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After going past the $13,000 mark, Bitcoin started to drop, and it also failed to hold the $12,000 resistance and went as low as $10,796. And because of the recent drop, bitcoin also influenced Ripple (XRP), which also failed to hold onto $0.4070 resistance for the US dollar. Even till earlier today, XRP had only reached $ 0.4065 mark and started to decline again. But that has changed all of a sudden now during the second half of the day.

The simple moving average is $0.3950 that was experienced due to a break below this critical point earlier today, which was the support level. The decline happened because the price was tested at the support area $0.3840 – though the price is now above this support area and can regain itself shortly.

How Ripple (XRP) stands now?

At first level, the resistance is close to $0.3900 and at 23.6 percent Fibonacci retracement level for any drop from $0.4065 to $0.3837. Let’s not forget, as the day started, the vital drop channel framing with resistance at $0.3930 for an hour recorded with Ripple and US dollar in the chart. Ripple’s XRP picked some serious steam in the last couple of hours, and the coin now trades at $0.404986 (in green numbers by 5.46%).

Ripple XRP price analysis
Source: CoinMarketCap.com

Excluding the channel resistance, the other vital resistance is at $0.3950, which is in par with 50 percent Fibonacci retracement level for the current rise from $0.38251 to $0.404986. If there is any break above $0.4250, then we could see a sudden surge towards $0.4570. But if Ripple’s price doesn’t rise above $0.4920/0.4950, then there are some chances it could drop further below even to its current level.

Further breakdown and analysis

Moreover, if there are any breaks below $0.3820 in the near future, the prices could drop even more profoundly, with the next massive support at $0.3850, at $0.3790 the losses could be even more fatal. After studying the current charts, Ripple coin price is above the critical support level of $0.3840.

However, unluckily if the defense isn’t strong enough, then there could be a withering drop below $0.3800 in the future. The Moving Average Convergence Divergence for  XRP/USD an hour is reaching a decent pace at the bullish zone, with Relative Strength Index raising decently and above 40. With that being said, the Major Support Levels are $0.3750, $0.3820, and $0.3840, while significant resistance levels are $0.4200, $0.4150, and $0.4120.

Conclusion

  • Ripple’s XRP once again climbs up after dropping against the US dollar by failing to hold the $0.4070 resistance mark.
  • Vital growth channel with resistance at $0.3920 on the XRP and USD chart, with hourly mark.
  • XRP is at the risk of dropping below $0.3840 the support area if bitcoin fails to hold onto its current recovery.

Disclaimer: The presented information is subjected to market condition and may include the very own opinion of the author. Please do your ‘very own’ market research before making any investment in cryptocurrencies. Neither the writer nor the publication (TronWeekly.com) holds any responsibility for your financial loss.

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Triple threat match between Ripple, Facebook, and Swift for cross-border remittance

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Development of cryptocurrency in the digital payment category may have influenced the cross-order remittances. The number of blockchain startups and other financial institutions are seeing this as an opportunity to leverage their business shortly.

To exploit this opportunity businesses have started making use of their existing colossal user base, like Facebook while others like Ripple are partnering with fellow financial institutions like Moneygram and Coinfirm to take their game to the next level.

Understanding cross-border remittance

According to a report from the World Bank, there seems to be $529 billion in 2018, which is the remittances from the middle and low-income nations – which is more than 10 percent in 2017. Also, it is expected to reach $550 billion in next few years, which is why fintech firms and blockchain startups are considering this as an opportunity to tap into and leverage the same – calling it the lowest hanging fruit.

The mere purpose of immigration gets nullified when the remittance rates and cross-border money transaction rates are outrageous. On average, to transfer $100 using traditional means other than the emerging ones like Ripple, it costs around $7, which is expensive.

Considering Asian and African immigrants in Europe, the US, and Gulf, they would need to send the money back to their family and dependants in a definite period. These remittance rates are actually hitting the expats hard, thus avoiding the actual benefit of having an income in foreign currency.

Leveraging the lowest hanging fruit

Financial institutions like MoneyGram, Paypal, or Western Union, are really locking these transaction rates quite high, which in turn is allowing blockchain startups to find an alternative to this traditional and inefficient means of remittance. That precisely is what Ripple is trying to do; the blockchain firm has a vision of creating a dent at global than just doing roadmap of features. It seems they are here to fight between 0 or 1, to either make the impact or accept the failure.

Cryptocurrency based solutions are working to provide a cost-effective approach to this existing cross-border remittance procedure. For example, consider PayPal, it charges a flat price of 2.9 percent and $0.30 for a single online transaction.

Not too long ago, a spokesperson from World Bank mentioned something about the global state of remittance and how fintech firms can make a significant impact in the future,

“Although geography plays a huge role, the cost is the biggest challenge to financial inclusion. This is both from the perspective of the service provider, in the sense that the costs to provide financial services to the abysmal (including rural dwellers) can be prohibitive. Also, from the perspective of the user of the service (for meager-income individuals and families), the cost of using financial services can be prohibitive.”

Ripple has already been researching on these cross-border remittance procedures and its planning to do it using the decentralized ledger technology (DLT) by partnering with banks and other required financial institutions.

Though there are enough rewards when blockchain startups leverage this lowest hanging fruit, it comes with a price. Moreover, this is how the Spokesperson continued,

“Aside from the cost, we shouldn’t undervalue the role that gender discrimination plays. The result of this is a large (9% in the developing world) gender gap between men’s access to finance and women’s access.”

“While employing cross-border remittance, its good to consider Anti-Money Laundering and aiding terrorism as well” added the Spokesperson.

The battle of fintechs: Libra vs. Ripple (XRP) vs. Visa

But according to Jamie Dimon, CEO of JPMorgan Chase, cryptocurrencies can’t overtake the relevancy of banks payment procedures; he believes banks have already built P2P, Zelle, and TCH with better real-time transaction methodology.

Facebook, with its recent Libra project, is trying to leverage its social media user base, to tap into this market while Ripple is already partnering with other financial institutions to stabilize its overall financial journey. Also, Libra could violate the precedence of sovereign fiat, thus diluting the financial powers of underdeveloped and developing countries.

This battle seems to have already begun between Libra and XRP, especially after Ripple’s partnership with MoneyGram. With MoneyGram’s liquidity and Ripple’s robust operating system, XRP could be more rigid. With ordinance and compliance comes perfection, which is why Ripple has also partnered with Coinfirm, to make XRP a better option in the market.

It is worth noting that SWIFT is also in this race with plans of employing DLT based global payment innovation (GPI) platform. So it seems, SWIFT is actually planning to leverage upon Ripple’s XRP using its GPI platform when there is a cross-border transaction.

Instead of making things centralized SWIFT might make use of Ripple’s partnership with various banks and financial institutions, to use Xrapid and XRP creating multiple loops. With the obstacles in the cross-border remittances, cost-effective approach with the fastest transaction methodology, and end-to-end protection will be the leader in this business.

Disclaimer: The presented information is subjected to market condition and may include the very own opinion of the author. Please do your ‘very own’ market research before making any investment in cryptocurrencies. Neither the writer nor the publication (TronWeekly.com) holds any responsibility for your financial loss.

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Europol detains six people for plundering $27.2 million worth of cryptocurrency in the UK and Netherlands

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Cyber attacks have built a new dimension since the evolution of cryptocurrency, the hacking methodologies employed to steal bitcoins, ethereum, and other cryptocurrencies have been very sneaky, along with the popular cryptojacking and typosquatting.

What is Typosquatting?

Typosquatting is a hacking methodology that targets internet users when they type in a wrong web address in their browser. These users may land on a different page similar to the original but looks legitimate as the original.

A group of six hackers used this typosquatting technique for plundering around $27 million in cryptocurrency. The hackers used typosquatting to login to client wallets and access funds. Based on the press release by Europol, it was reported that at least 4000 bitcoin users from 12 different countries had become the victim of this act.

The takedown of hackers

Europol has coordinated this operation with UK’s South West Regional Cyber Crime Unit (SWRCCU), National Crime Agency (NCA), Eurojust and Dutch Police (Politie) to investigate these six suspect over 14 months.

European Cybercrime Center’s (EC3) assistance to Joint Cybercrime Action Taskforce (J-CAT) allowed the international cooperation between a different member of the European Union and made a move on the suspects by locating their whereabouts with the help from British authorities.

With the integrity and confidentiality of cryptocurrency if people are assuming this could be an exciting means of the transaction then they need to be aware of the cybersquatting techniques that hackers can employ to sneak into your login details, access the secret vaults and use your cryptocurrencies. Bitcoin has been a favorite victim of these sneaky techniques, and this case here is an excellent example to refine your security policies now.

Other typosquatting alike techniques

Malware watchdogs already found something fishy with the Cryptohopper website and identified it to be a cloning technique to steal login credentials of the users, making them download a false exe. When installed, the exe will also deploy trojans and cryptominers that can later perform cryptojacking or plunder the cryptocurrencies away.

Poor browser security and practices can worsen the situation allowing the hackers to track your browser history, cookies, credentials, payment information, wallets and more, while clipboard hijacking is also being used to exploit the same in detail. Popularly known as Qulab trojan later starts infiltrating user information, tapping into personal data and exploiting the wallets.

Reinforcing security and brushing up your best practices

Cryptocurrency will continue to evolve over the years, but making sure your currency is well secured by enriching your cyber awareness, can reduce your chances of becoming victim to these sneaky takedowns. Though cybersecurity tools can come in handy, only knowledge and cautiousness can keep users secured from cybersquatting.

Recheck your browser plugins and add-ons, make sure they are from trusted sources to continue using them in the future. Europol has arrested these six people, but they aren’t the only ones out there trying to get away with cryptocurrency theft. Build your defenses and enhance your knowledge to stay secure against cybersquatting.

Disclaimer: The presented information is subjected to market condition and may include the very own opinion of the author. Please do your ‘very own’ market research before making any investment in cryptocurrencies. Neither the writer nor the publication (TronWeekly.com) holds any responsibility for your financial loss.

Never miss our daily cryptocurrency news, price analysis, tips, and stories. Join us on Telegram | Twitter or subscribe to our weekly Newsletter.