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Coincheck Brings Back Account Openings, Purchases, and Deposits For Selected Coins

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Coincheck

Cryptocurrency exchange going by the name of Coincheck has just announced that it will bring back purchases and deposits for some cryptocurrencies.

Coincheck re-introduces some of its former services

Coincheck is a crypto exchange that has had a lot of issues throughout 2018, starting with a major hack that hit the exchange back in January. After the hack, Coincheck was in bad shape, and it was soon purchased by a Japan-based brokerage company called Monex Group. This was in April 2018, and the exchange was bought for around $33.5 million.

Coincheck attempted to recover on its own in February, and it resumed JPY withdrawals, as well as remitting and selling several coins. Most of this was done by taking one step at the time throughout the first half of 2018.

This is the way the exchange continued to recover up to this point, and the new press release states that several chosen cryptocurrencies are now available for deposit. These include Bitcoin (BTC), Bitcoin Cash (BCH), Litecoin (LTC), and Ethereum Classic (ETC). Furthermore, the exchange has made BCH, LTC, and ETC available for purchase as well, while Bitcoin is still suspended due to the attack.

Coincheck also announced that users can now open new accounts, however, this only includes customers based in Japan. In addition, those interested in opening an account will have to go through the KYC process. This is required due to regulation brought by Japan’s FSA.

Coincheck’s recovery and plans for the future

Due to the incident that has left the exchange in a very bad shape, Coincheck is seeking confirmation of technical safety for all of the products and services. This is done in order to prevent another attack, as well as to avoid fines for insufficient security. Apart from having its reputation damaged after the hack, the exchange was in dire need of funds, which the Monex Group used to buy it in the first place.

Now that the exchange feels confident enough to get back into the crypto business, many have seen it as a good sign. Not only is Coincheck finally making a return, but it will also mean a lot for Monex Group. As mentioned, the exchange has had a lot of losses throughout this year, and by purchasing it, Monex felt the consequences of the incident as well.

Thanks to the return of the exchange and its services, it is expected that Coincheck will perform much better in the following quarters. While the speed of the recovery is something that has yet to be established, the crypto community has welcomed this move as a positive one.

Finally, while Coincheck announced that it will make its recovery one step at the time, it has already made a lot of plans for the future. These include things such as bringing back leverage transactions for new positions, JPY depositing via convenience stores, affiliate service, and alike. Of course, all of these services will first need to be confirmed from the security perspective before they are officially re-introduced.

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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.

Image courtesy of Pexels

Altcoins

Chainwire Launches Blockchain-Focused Automated Press Release Distribution Service

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TEL AVIV, Israel, 13th October, 2020, // ChainWire //

MarketAcross, a world leader in blockchain public relations and marketing services, is pleased to announce the launch of Chainwire, an automated press release distribution service which provides guaranteed coverage and in-depth reports. Chainwire will be a one-stop-shop for the distribution of press releases in the cryptocurrency and blockchain sector. The launch marks the first time that advertisers can reach leading publications in the crypto media with the click of a button. 

While most industries have some kind of PR newswire service, the cryptocurrency sector has become a victim of its own rapid pace of growth over recent years. Since the ICO boom of 2017, there has been a proliferation of blockchain and crypto-focused projects, exchanges, investment firms, and marketing agencies, along with niche news and informational content sites. 

However, the infrastructure to connect this complex ecosystem has been slow to come up to speed, meaning that existing newswire services don’t reach their target audience. It’s estimated that one in five people own cryptocurrencies, so there is currently a significant missed opportunity to reach a massive global readership. 

As a newswire service dedicated to the crypto and blockchain space, Chainwire aims to address this gap. Press releases are distributed to leading publications, offering guaranteed coverage to reach audiences worldwide. The system is integrated with publishers and blogs, enabling accurate reporting via a user-friendly dashboard. It also…

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How Can Foreigners Get Loans in Singapore

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loans for foreigners in Singapore

Foreigners who are residing in Singapore and looking for financing could do so in the form of a payday loan. It is good to find out that you can borrow the money from a reputable lender and that the interest rates are low enough for it to be a viable option. Online lenders that specialize in doing business in the country can certainly help one. These online companies are not only reliable, but their service is fast.

At the same time, many cannot afford a high standard of living. Many individuals cannot afford essentials, such as a car or a house. It can be difficult for the majority of the working class to scrape through on their basic salary. 

What defines a foreigner in Singapore? 

A foreigner in Singapore means that you are not a permanent or natural citizen there. As a foreigner, you will not be holding a Singaporean passport. The rules can differ a little for foreigners and residents. Singapore, being a multinational hub, houses many foreigners within the city. Foreigners come to Singapore for the many attractions it offers. Many people come to Singapore for Work-related purposes. A lot many also come for vacations or to visit a friend or a relative. Some foreigners come with a plan to move to Singapore permanently, attracted by their lavish lifestyle. Singapore also houses many International students attending many esteemed Singaporean Universities.  

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Altcoins

Aluna.Social is a Compelling Social Platform for Crypto Traders and Investors

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Aluna.Social

When one thinks about the social media landscape, the companies that first come to mind are most likely Facebook, Instagram, LinkedIn, and Snapchat.  These platforms are a great way to stay connected with friends, families, and colleagues, especially when geographic distance is a factor.  But, in addition to just chatting about life in general and sharing pictures, social media can be used to bridge the information gap that exists within the investment community.

Over the last decade, many trading offices have been established in large cities all over the world which allow solo traders and investors to pay a monthly fee in exchange for a workspace.  The real benefit to trading in these offices is to participate in the free flow of trading ideas and information.  Proprietary trading is one of the most challenging careers to be successful at and the exchange of ideas is almost required in order to succeed.  Traders at hedge funds and investment banks work in teams so why shouldn’t remote traders?

While these trading offices are a great way to help bridge the information gap, Aluna.Social may provide an even better way, especially as it relates to cryptocurrency trading.

Mission Statement

Aluna.Social, founded by Alvin Lee and Henrique Matias, is a multi-exchange social trading terminal for crypto traders and investors.  The goal of the platform is to help newcomers shorten their learning curve, unlock their full potential, and improve trading performance.  Cryptocurrency trading can…

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