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Bithumb Welcomes Cardano (ADA) and Status (SNT): 1% Payback Announced

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Bithumb announced that they will be adding Cardano and Status to their list of trading coins starting on June 13th, which came after having this Korean-based exchange platform adding Aeternity and NEM to their list of digital assets. New listings and partnerships are always welcome to the community, so as expected the mentioned listing did cause increased trading volumes in both SNT and ADA over the past couple of days. Although the current bear market kept gains limited.

Bithumb Announces New Listings

After announcing that Bithumb will be adding NEM and Aeternity (AE) to their exchange platform, Bithumb has announced two more listings as stated in the official post on Twitter that they have published several days ago, on June 13th.

As of the mentioned date, Status and Cardano became available for Bithumb users, adding more to the value of the exchange and of course getting more on accessibility and exposure in return.

Bithumb makes up for one of the top South Korean crypto exchanges and thus make a valuable partner in the market.

Although NEM, once ranked as the 15th-best currency started to drop in the last 24 hours despite the Bithumb listing and a rather benevolent trend in the market which pushed XEM down to the 16th spot on the list, Aeternity, SNT, and ADA are going up against the dollar while collecting gains at the time of this writing.

Cardano makes up for one of the top 10 coins, previously listed as the 7th best coin and now taking the 8th spot, so Bithumb makes one of over 15 exchanges which have listed ADA over its lifetime.

In addition to having Bithumb on its list of top exchanges, Cardano can be traded on Huobi, Binance, Bittrex, Upbit, Indodax, Cryptopia and 15 more exchange platform, pushing its market cap to 4.3 billion dollars and up.

Status seems to also be doing pretty well with the latest market trend and with having been added to yet another exchange. With the Bithumb listing Status is getting closer to having 40 listings, while currently being listed on 31 exchange platforms, which include Cobinhood, OKEx, Binance, HitBTC, Livecoin, KuCoin, Bittrex and over 20 more exchange listings with different fiat and crypto trading pairs.

Bithumb Is Offering 1% Payback

With the announcement of the newest listings that came on June 13th with going live the next day, Bithumb announced that the exchange will be giving out 1% payback to their users, which might increase the trading volumes for the newly listed currencies during the period between June 16th and June 20th.

Apparently, if you place the newly added digital assets as a deposit by June 16th, which would mark the final date of deposit making, trading the deposited assets by June 20th would make you eligible for getting 1% payback from Bithumb exchange, making a great way of promoting the newly added currencies along the way.

Allegations for Tax Evasion Dropped: Bithumb Clean

Back in 2017, Bithumb exchange was accused of having been involved in illegal activities by evading tax payments. The National Tax Service has been monitoring and leading this case from the mere start until they have finally come to a conclusion during the last week.

On June 8th, The National Tax Service has announced that all allegations of tax evasion on Behalf of Bithumb are dropped in this case given the fact that the accounting records of the South Korean exchange were carefully investigated leading to the conclusion that Bithumb has neatly paid all their taxes.

It was officially confirmed that Bithumb was falsely accused of tax evasion, while the National Tax Service confirmed that Bithumb paid for all fees and taxes that were summed up to 28 million dollars, which in this case represents a normal tax bill for the year 2017.

This way, all allegations were dropped and all accusations shut down, restoring the probably lost trust in Bithumb exchange that makes up for one of the top exchanges based in South Korea by increasing the exposure of 37 listed digital assets on its platform.

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

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Altcoins

KaratGold Proves Its Business Model By Providing Official Documents

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There has been a lot of renewed enthusiasm in the cryptocurrency market thanks mainly to Bitcoin’s strong move about 10,000.  Although Bitcoin continues to show its dominance, the altcoin market has yet to benefit from that rally.  A few of the largest altcoins remain popular but the rest of the market continues to lag behind.  In 2018, there was a lot of talk regarding a possible altcoin apocalypse where only the strong would survive.  That prediction appears to be playing out as expected.  Going forward, only the best projects that have a real world need will survive.  Crypto traders will have to spend a lot of their time doing proper research in order to find the best opportunities, just like in all financial markets.  One promising project that appears to have the makings of a future winner is KaratGold Coin.

KaratGold Background

KaratGold Coin is a cryptocurrency developed by the reputable German company Karatbars International, which maintains a leading position in the market of small gold items and investments. The project is part of a larger ecosystem, which involves several blockchain solutions that can be used for transactions, communication, investing and other tasks. During the past few weeks, however, the KaratGold ecosystem has been a target of unsavory scam allegations.  

Karatbars International and GSB Gold Standard Banking Corporation…

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Altcoins

ICTE May Bring About Sweeping Changes for Cryptocurrency Exchanges

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Cryptocurrency has taken the world by storm during the last few years. An entirely new financial market was created almost overnight which has captured the imagination of all its participants. Cryptocurrency is even starting to attract institutional money from investment banks, hedge funds, and other proprietary trading firms. Despite the rapid growth, traders remain extremely frustrated by having to deal with the fragmented nature of centralized crypto exchanges.

A Change is Needed

When cryptocurrency first began, there weren’t many participants and the trading volume was relatively insignificant. But, over time, that has radically changed. Some tokens now have a capitalization in the billions and are being traded 24-7 by institutions all over the world. Despite the volume, significant problems exist with the current way that exchanges work. Some of those problems include the following:

  • Constant fear of hackers
  • Exchange manipulation
  • Fragmented liquidity
  • Risk of identity theft

One of the biggest issues regarding centralized exchanges is the risk of being hacked. These hack stories seem to always be circulating around the internet. While experienced traders may have the tools to avoid becoming a victim, potential new traders have zero interest in dealing with this. And it’s not just the small exchanges that are at risk. Even large exchanges, such as Mt. Gox and Binance, are subject to being hacked.

Another huge risk is having to deal with…

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Altcoins

SonicX and Dash Could Challenge Facebook’s Libra for Global Payments Market Share

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When Satoshi Nakamoto unveiled Bitcoin to the world, the dream was always for Bitcoin to serve as a new universal currency.  It would be free from the bureaucracy of governments.  And free from the tyranny of the old-world financial cartels.  Although the dream hasn’t yet materialized, it comes closer and closer with each passing day.

One of the biggest roadblocks for Bitcoin has been scalability.  At a speed of approximately 7 transactions per second, Bitcoin lags behind other cryptocurrencies like Ripple and global payment processors like Visa.  Many expect the lightning network to have a positive impact on Bitcoin’s TPS but until that comes to fruition, mass adoption will likely need another significant development.

Libra Currency Announcement

One development that could help pave the way toward mass adoption is the launch of the Libra currency.  Libra is expected to go live during the first half of 2020 according to Facebook’s June announcement.  According to Facebook, Libra will make sending money online cheaper and faster.  It will also have a hand in improving access to financial services, especially for the unbanked.  Given Facebook’s global reach, including many third world countries, providing financial access to the unbanked could provide a huge spark to global economies.  Additionally, it could provide the growth spark that cryptocurrency needs.

Facebook’s most popular messenger, WhatsApp, has approximately 1.5 billion monthly users.  This application is…

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