Cryptocurrency

Cryptocurrency

Norwegian Airlines to Accept Bitcoin as a Payment Mode

Norwegian Airlines to accept Bitcoin as a payment mode

The major airlines of Europe Norwegian Air will allow its passenger to buy tickets using bitcoin later this year, as reported by the local news agency. The CEO and the founder Bjørn Kjos, of the largest Scandinavian airlines, is a big fan of crypto. But his crypto ventures do not end here. He is also starting a digital currency exchange in Norway.

The citizen of Norway can purchase flight tickets using cryptocurrency. The NBX exchange will be functional for them from August this year. As per the local daily, the exchange will spread its services to the neighboring countries in the coming months.

The existing reward points of Norwegian Air will get integrated into NBX. The points the customers will be earning on the exchange can be employed to purchase air tickets.

The entire Kjos family has great faith in cryptocurrencies. Last year Lars Ola Kjos was the principal investor of cryptocurrency on the Norwegian scale.

Stig A. Kjos-Mathisen, the chief of the exchange, said, the customers will get a chance to get cash points on trading in the exchange. They can even earn cash if they make payment to the airlines through the exchange. The launch of the exchange has got postponed from last fall to August.

Once the exchange is launched, it will act as a payment solution to the airlines, which is the third major cheap-cost airlines in Europe. The passengers can buy tickets using this new solution instead of using their credit cards.

Many business houses who are accepting cryptocurrencies as a compensation option has to depend on a third-party compensation solution. But the Norwegian Airlines do not have to depend on others as NBX has developed the payment solution.

The head of the yet to be launched exchange also said NBX would work as a payment processor of cryptocurrencies for the airlines. In short, it will work as a complete payment solution for Airlines. In addition to Bitcoin, the transaction will also accept Ethereum and USDC.

Although Norwegian Airlines is not the first entrant in the market to accept cryptocurrency, a California based travel agency has initiated the process in 2013 by accepting Bitcoin as the payment option.

Bitcoin Breaches $11,800; How Soon is $15,000?

Bitocoin
  • Bitcoin goes beyond 11,800 USD price mark.
  • The coin may break out the major resistance level around 12,800 USD.

Bitcoin is the highest rated and best-performing coin of the current times. Contrary to popular perception, Bitcoin is yet to get into a price correction phase. The coin has recently breached 11,800 USD price level. It should be noted that it is the highest Bitcoin has got since March 2018. The coin has four major swings in the last 24 hours. The first hike was between 03:38 UTC and 11:05 UTC, and this hike made the coin to gain 3.5%. This was followed by a dip of 3.57% in the next 1 hour and 16 minutes. Again a hike of 3.36% was noticed between 12:22 UTC and 16:23 UTC. The latest hike between 17:39 UTC of yesterday and 00:47 UTC of today has made the coin to get a whopping 6.58%. This hike has helped the coin to go beyond 11,800 USD. The medium-term outlook is bullish for Bitcoin. The coin is likely to touch 15,000 USD by the end of this year. Let us look at the current details of the coin.

BTC Price Statistics-

Bitcoin Price Chart

Bitcoin (BTC) 26th June 02:37 UTC
Rank 1st
ROI (Return on Investment) 8,677.42%
Coin Circulation 17,780,775 BTC
Market Cap 202,085,413,735 USD
Value in USD 11,863.78 USD
All-Time High 20,089 USD
24h Volume 22,666,958,470 USD

BTC to USD Price Comparison-

Bitcoin got its first hike of the year between 27th March and 03rd April of 23.60%. Between 25th April and 15th May, the coin gained 58.47%. And this was followed by a dip of 9.71% over the next three days. The latest growth was made between 9th June and 25th June. This growth accounts for a hike of 54.45%, and this is credited for the success of Bitcoin breaching 11,800 USD price mark. The market cap on 26th May was 141,603,993,304 USD, and the value of each coin was 8713.26 USD. The current market cap and the value of each coin are respectively 42.71% and 36.15% more than the figures for the last month.

BTC Price Prediction-

As mentioned earlier, the coin is likely to have bullish medium-term. By the end of 2019, the coin may be roaming around 15,000 USD. The next resistance points are 12052.16 USD, 12313.4 USD, and 12835.88 USD. The support levels are 11268.44 USD, 10745.96 USD, and 10484.72 USD.

Conclusion-

Bitcoin is definitely one of the most promising and best-performing assets in the whole world. New investors need to have a long-term association with Bitcoin for reaping maximum profits.

The Central Bank Of Russia Plans To Launch Its Own Digital Currency In Future

Russian Cryptocurrency

Numerous banks of various countries are planning to issue their own digital currency immediately or in the near future. The central banks are researching about the benefits of digital currency and proposing projects. Now, the central bank of Russia has shared its opinion of launching its own Central Bank Digital Currency (CBDC) – cryptocurrency.

President of Russia’s Central Bank, Elvira Nabiullina revealed the banks plan to issue its digital currency on Sunday at a student conference.

TASS source reported the student conference was held in Skolkovo, and during this event; Nabiullina shared the bank’s opinion of launching digital currency in the future and not immediately.

It’s difficult to launch the CBDC immediately. Several central banks, along with the Central Bank of Russia, are researching about the opportunities of implementing cryptocurrency, she mentioned.

The student conference took placed on June 15th, 2019.  On this day, she emphasized that in order to implement such projects, secure technologies are needed, including blockchain technologies.

She mentioned at the conference:

If national currency that works in the entire country is concerned, this does not refer to any private assets, and certainly, this requires a technology that would ensure reliability and uninterrupted operations. These technologies should be mature, including blockchain technologies.

During the Financial Market Committee meeting, held in the last week of the May in the State Duma, Central Bank head mentioned that the Central Bank of Russia was thinking of a project, of developing a gold-based digital currency for mutual settlements in association with other nations. The central bank was referring to countries such as China, India, and other nations. They purchase weapons through Rosoboronexport.  In 2017, due to western authorizations, nearly 20 percent of defense transactions of Moscow were stopped. Shifting to payments in national currencies faced many problems.

At the time of debating on this issue, the Central Bank head underlined that the digital currency like stablecoin linked to a real asset and security is examined by the regulator and will be noticed in Central Bank’s regulatory sandbox.

During that period, Nabiullina said the Central Bank refused to incorporate classic digital currencies into the Russian Federation monetary system.

“We do not see this opportunity for cryptocurrencies to perform the function of monetary surrogates here, and practically do not consider such projects within the framework of the regulatory sandbox.”

Source reported, while adopting digital currencies, one thing should be significantly considered whether the community is ready to give up on cash. Some nations have adopted digital currencies and have become cashless, but most countries still prefer cash due to its popularity. This digital adoption is not because people are involved in some illicit activities. People respect their privacy and secrecy. Definitely, society should be interested in adopting technology for the distribution of non-anonymous cryptocurrencies.

Nabiullina further suggests that the project drafters should consider of knowing and studying the benefits of cryptocurrencies in comparison to other leading technologies, for instance, a fast payment system.

Facebook’s Much Secret Crypto Project Gets Support From Mastercard, PayPal, Visa, Uber And More

facebook visa uber paypal

Facebook, the social media giant firm for the first time, will mark its presence in the leading crypto market by launching its first cryptocurrency project named GlobalCoin.  Facebook was privately working on the project for almost six months now, and a lot has been speculated about the crypto project by various outlets.

Recently on 13 June 2019, the Wall Street Journal provided some information relating to investors. It managed to reveal some key names of its investor. The report includes names of major payment processing companies such as Mastercard, Visa, and PayPal; it also mentions Uber in the report. They are just a few important names apart from other investors. Each of these major companies promises to invest almost 10 million USD dollars (USD10). The report was published on Thursday.

The Wall Street Journal data also say Facebook Tech Company successfully managed to get backing from at-least three leading payment service companies.

The complete list of investors still remain secret, and analyst hopes to see more investors name in the days to come, when the official GlobalCoin Whitepaper is published on 18th June 2019. Analyst predicts to see more names from sectors such as telecommunications, e-commerce, and venture capitalists.

The companies thinking of taking part in coin backing should promise to invest 10 million dollars, already promised by a few companies. Once the investment is secured, the companies will eventually be a part of the crypto project consortium ‘Globalcoin’ and responsible for controlling and regulating the new crypto coin of Facebook.

The amount generated through investment will be used to gain more support for the crypto-coin, and the crypto-coin will be linked to fiat currencies. The Wall Street Journal mentions, Libra Association-governing body, Facebook will not manage the crypto-coin directly. Sources also informed the Wall Street Journal that some people don’t even know how the crypto-coin will operate and what role they will play in Facebook’s crypto project.

Some of the companies such as Stripe Inc, – Financial based technology firm, Booking.com –travel reservation firm and MercadoLibre Inc. – e-commerce website of Argentina will use the must speculate ‘GlobalCoin’ of Facebook to expand its services to other parts of the world, globally.

The crypto enthusiast can wait for some more time to get more specification of the coin through Facebook. According to The Information, it was reported in June that Facebook might provide crypto coin details by the end of this month.

Before Facebook releasing its White paper on GlobalCoin, new blockchain based jobs were listed on its website; currently, 28 posts to be filled up by candidates having blockchain skills.

Facebook is continuously working with full speed on its crypto projects and moving fast with its plans in order to release its GlobalCoin by the Q1 of 2020, BBC reported in May. Before launching the GlobalCoin in few countries, Facebook will test the coin in 2019. People even say stablecoin might be used as a payment mode across its platforms such as Instagram, Whatsapp, and Messenger.

In May 2019, Facebook registered an LLC in Geneva, aimed at its blockchain development under ‘Libra Networks.’

The most expected crypto report set to release on June 18- whitepaper. The official white paper release date was too kept private for a long time, but during the trade conference, held in Amsterdam, Financial Services and Payments Partnerships Northern Europe Head confirmed the release date.

The GlobalCoin crypto project of Facebook is certainly going to impact other cryptocurrencies in the crypto world.

TradeSanta: Company Profile, Features & Offerings

TradeSanta Company Profile

TradeSanta is a cloud software platform that offers automated trading to cryptocurrency traders. It enables the traders to automate their crypto trading activities 24 hours a day, seven days a week. All one needs to do is connect TradeSanta to their cryptocurrency exchange to get started.

And that’s not all. The company, with its Christmas-like name, also claims that it can let the crypto traders gain benefits from even the ever-fluctuating market scenario of the crypto industry through its trade process automation. Moreover, the platform is designed in such a way that any crypto trader, regardless of their expertise in the space, can easily utilize it to their advantage.

How to use TradeSanta?

TradeSanta automates trading through bots. That means it allows crypto traders to create a bot which will take care of their trading activities round the clock. The bot can be set-up by following a simple process that hardly takes 10 minutes. Once the bot is created, the user/trader can make custom changes to it by selecting a crypto bot strategy, trading pairs, take profit levels, and other personalized settings.

Once the set-up is complete, the trading bot is ready to purchase and sell digital currencies for you. However, the opening of a deal is based on the preference you have selected – either immediately post the set-up or after receipt of a signal from the technical indicators.

At present, TradeSanta allows you to set up a bot for only four crypto exchanges – Binance, HitBTC, Bittrex, and Bitfinex.

Why choose TradeSanta

TradeSanta simplifies crypto trading to a great extent. Thanks to the bots that can track the market fluctuations 24/7 for multiple trading pairs, traders can place hundred more orders on an average than the manual trading. With TradeSanta, one doesn’t need to sit in front of their computer to trade all the time. Additionally, there are no restrictions for traders with respect to the number of bots or trading pairs to be created.

What’s more, you can keep tabs on your progress through a single dashboard. It shows everything – right from in-process deals and total balance to calculated profits and its analysis. That way, it becomes easy for you to gauge how well your chosen trading strategy is working.

The platform also provides reference tutorials for people finding it difficult to set-up or customize the bot. Apart from that, TradeSanta also lets you use one of its ready-to-use templates to facilitate quick set-ups and begin trading.

Features

  • Technical Indicators – These indicators make sure that your trading bot enters the market at just the right (optimal) time. For that, users can choose one of the three filters – Daily filter, Bollinger signal, and Volume filter. However, they can also set all the three simultaneously.
  • Extra Orders – The option of Extra Order. If the price of a particular coin goes against a strategy that you set up for the bot, it can automatically place extra orders at a lower or higher price, that will give a chance to get profit with a less of a price recovery.
  • 24/7 Support – Considering the complexities that may arise while crypto trading, TradeSanta provides 24/7 support services through Telegram and Email.
  • Strategies – TradeSanta allows you to set a short strategy or long strategy or both at the same time for trading. If both strategies are chosen simultaneously.

While TradeSanta automates the crypto trading process, it is vital for users to analyze the crypto basics and set the preferences that best fulfill their individual needs.

Iran To Cut Subsidies On Electricity For Crypto Miners, Government Wants Them To Pay Real Price

Iran Crypto Miners

Iran has strict prohibitions of trading and mining of cryptocurrencies. However, the country has been a crypto mining hub in the Middle East. The country has cheap electricity rates, which make it a favorable market for miners since mining is a power intensive activity.

However, recent reports suggest that the scenario could change soon, as the government plans to pull the plug on electricity subsidy, specifically for crypto miners. The government pays for the major part of electricity consumption in the country, while consumers pay only a fraction of the price. This puts an enormous burden on foreign reserves, especially due to the sanctions imposed by Washington. The government approximately pays over $1 billion in energy subsidies on behalf of the total energy consumed in the country.

The administration has been requesting its citizens for the longest time to reduce power consumption and cut down wastage. In such chronic situations, crypto miners have increased the problems, and the government now plans to curb mining. The deputy energy minister, Homayoun Haeri said in Tehran last weekend that crypto miners should pay the actual bill for the electricity they consume, and not the subsidized one.

Despite the winter gripping most of the crypto markets, miners in Iran kept making profits, which could be highly credited to the low energy costs. This made government entities, including the Ministry of Information and Communications Technology, recognize crypto mining as a valid industry, though there hasn’t been any clarity.

At a time when US sanctions are hurting the Iranian economy, crypto mining could prove to be a game changer for the country, given the exponentially growing global crypto market. However, if the government pulls the plug on energy subsidies for crypto miners, the industry could be severely hit.

Ripple Comes Closer To Latin American Customer With Its New Office In Brazil

Ripple in Brazil

Ripple, the firm behind the development of XRP, is in the spree of global expansion, presently they are planning to open their new office in Brazil to serve the Latin American customers.  The news surfaced on 10th June.

The company is planning to announce the latest development in banking and financial event that is to be held in Sao Paulo from 11th to 13th June, the event is popularly known as CIAB Febraban.

The new workplace will bring them closer to the banks and payment providers of South America for fast and transnational transaction over the blockchain. Local companies like Santander Brasil, BeeTech Global, and Banco Rendimento has already joined the Ripple bandwagon to use their flagship solution.

The previous CEO of Warranty Group, Antonio Sacco, will be joining as head of the new ripple office. Sacco has already joined Ripple in March this year has said Ripple is planning to attract more customers to their payment platform RippleNet. He told the company is intending to serve whole South America and not only Brazil.

Presently RippleNet is used by 200 banks and payment network. The company currently has a workplace in Mumbai, Singapore, Sao Paulo, Sydney, San Francisco, and New York. As per the new reports, the company has also started the workplace in Zurich to support the institutional investors.

Ripple is continuously developing its payment network and is developing several blockchain based solution for cross border transaction in a quicker and economical way. The xRapid solution of the company has shorter transaction time and is being tested by many prominent companies like Moneygram and western union, but none of them have adopted it completely.

As per the critics, Brazil is a growing market for the crypto enthusiast, as more and more individuals are turning towards cryptocurrencies for trading and investment. Although the country is not fully embracing it at the moment.

In the meantime, the largest bank of Thailand, Siam has withdrawn their statement that they will be supporting XRP token of Ripple. The bank has clarified its statement and expresses regret for the same through a tweet.

New Brazilian President Shows Hostility Towards Bitcoin, Proposes Introducing ‘Euro’ For South America

Brazil and Bitcoin

South America has been one of the favorable regions for cryptocurrencies, and demand for Bitcoin and other popular altcoins has always been on the merrier side. However, things in Brazil, the dominant force in South America, seems to be getting worse after Jair Bolsonaro was elected as the new President.

The man, infamous for his unapologetic racist behavior against the indigenous population of the country, is also against cryptocurrencies. His hatred towards Bitcoin has caused cancellation of an $11.5 million crypto project for the use by the indigenous population of the country. The government was introducing the crypto project for the natives, who largely remain unbanked traditionally; however, the hostility from Bolsonaro crushed everything.

The newly elected president is notoriously famous for working against the interests of the indigenous communities. He had recently said,

“The Indians do not speak our language; they do not have money; they do not have a culture. They are native peoples. How did they manage to get 13% of the national territory?”

When asked about Bitcoin recently at a press conference, Bolsonaro admitted that he knew nothing about Bitcoin. Still, he rejected it, stating that it is an evil force. It has unfortunately become a norm in the world that regulators, who have limited or no knowledge about Bitcoin or cryptocurrencies in general, yet they claim that digital currencies are threats to the economy. Not only in Brazil but many countries like the US, China, India, etc. the climate has become quite hostile towards cryptocurrencies.

Moreover, Bolsonaro wants a Euro-like single currency for the entire South American continent. The decision could prove disastrous, given the fact that unlike Europe, economies in South America are quite contrasting to each other. Also, despite Bolsonaro’s hostility, Brazilians are buying Bitcoin like never before, which is touted to be a hedge against the government’s uncertain economic policies.

Japanese restaurant BBQ Tamura to accept Cardano (ADA) for payment

Cardano

The commercial wing of Cardano (ADA), EMURGO has announced about their collaboration with Japanese “BBQ Restaurant Tamura,” famous Japanese TV star Kenji Tamura owns the restaurant. As per the announcement, the franchise will now accept cryptocurrency Cardano (ADA) in their Osaka based “BBQ Restaurant Tamura.” A special launch event will happen on 22nd June at Gamo, Osaka.

On that day the restaurant will be closed for the common people as it will be leased out for the special event although they will be selecting ten individuals through a lottery from the common people to attend the occasion.

Additionally, they are planning for a tweeter campaign from there 26 winners will be chosen and will be gifted with a special prize like Amazon gift card or a free entry ticket for the event.

On this occasion, the owner of the restaurant Kenji Tamura has said the entire world is experiencing technological advancement, and Japan is not an exception to it. He is driven by the future of cryptocurrencies and the role it can play in the progress of society through its transparency in the payment system. He further added that he is happy to add Cardano as a payment option for the restaurant.

Mr. Tamura has a great interest in cryptocurrencies and was watching Cardano project closely.

EMURGO is playing an important role to build a powerful empire for Cardano in Japan. In 2018 EMURGO had partnered with Tokyo University for Science to create awareness about the blockchain technology of Cardano.

The vision of the partnership is to create awareness about blockchain through hackathons and lectures.  By this, they will also groom the potential talent in the sector.

EMURGO is registered with the Japanese government since 2017 to work as an official commercial wing of Cardano project. The company is also registered with the Singapore government to work with IOHK to grow adoption of Cardano.

BBQ Restaurant Tamura is a chain of restaurants in Japan. The owner, Kenji Tamura, owns seven BBQ restaurant in different locations across Japan. He does the food tasting to offer the highest quality food to the clients. The staffs are whole-hearted and friendly to provide excellent hospitality to the customers.