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Monero (XMR) opens its ledger-to-ledger mainnet transactions account

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It is good news for all Monero users as the current developments seem to tic to the positive. It has happened that Monero support finally has come to the ledger hardware wallet. Congratulations Monero users!

In fact, it is not something that has happened within a blink of an eye as the feature has been under development for a period of time now. Reccardo Spagni, the chief code maintainer confirmed just recently that everything is set for Monero (XMR) to receive the support from Ledger, the manufacturer of crypto hardware wallet officially.

And now shortly after that, the privacy-focused altcoin, Monero, has opened its account for the ledger-to-ledger mainnet transactions successfully. Despite the fact that there is still some work that needs to be done, it collectively is an excellent step towards positive development.

The significance of the ledger hardware wallet is what even makes the Monero development impressive as a whole with all the consideration in the popularity of the Nano S across the globe. It is confirmed that the first transaction of XMR got completed successfully.

Subsequently, as of now, XMR hasn’t been supported by the developers as it’s not an official project for the team yet, however, that integration is being worked on. Interestingly, a ledger developer had been working on the integration solely putting together the working code for the currency integration for a few months now — although it is yet to be completed.

The transaction went down incredibly smooth as a user sent a Mainnet transaction to a different ledger owner, and like other transactions that are hardware-based, it was completed with ease without special trickery involved (which is a positive sign, always). That said, large-scale transactions are not advised at least for now.

Only that remains to be seen is when the Monero integration will come officially to this ledger wallet as it can be today, a week or even a few months. But one thing is for sure that things are pointing towards the right direction with all the real-time transactions.

Consequently, this indeed is an interesting development worth keeping an eye on as we move forward, and as a whole, Monero will definitely gain more legitimacy now – thanks to ledger wallet support.

We will be updating our subscribers as soon as we know more. For the latest on XMR, sign up for our free newsletter!

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 Dave Sandford via Flickr

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Blockchain-Focused ETF Arrives on London Stock Exchange

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The crypto community is still waiting for the US SEC to approve Bitcoin ETFs, with speculation which application might get approval being one of the hottest topics in 2018. However, come 2019, the US government shutdown dragged on, and the Bitcoin ETF request which had the most potential to see a grant got withdrawn by the very companies that submitted the application.

While the question of BTC ETF remains hanging in the air, blockchain-focused ETFs seem to be a different matter entirely. In a recent announcement by an independent investment managed firm called Invesco, the company has stated that it was about to launch the largest blockchain-focused ETF in the world. They managed to go through with this plan, and the ETFs have reached the London Stock Exchange today, March 11th.

The exchange-traded fund includes a portfolio containing as many as 48 different firms which are bringing exposure to the emerging technology. Among them, there is Taiwan Semiconductor Manufacturing, which is a well-known creator of chips used for crypto mining, as well as the CME Group, which is the first regulated exchange in the US which launched Bitcoin futures. There are many other well-known companies as well, such as Intel, Microsoft, and others.

Chris Mellor, the Invesco’s head of ETF equity product management in Europe, said that blockchain has a huge potential to increase earnings, even though…

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Could Jeff Bezos Turn to Bitcoin to Hide Fortune from Wife?

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Jeff Bezos
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Amazon’s Jeff Bezos has made numerous headlines recently due to his overly-publicized divorce, which shows all signs of being one of the most expensive ones — if not THE most expensive one — in modern history. According to estimates, it might cost him as much as $70 billion, which will make his soon-to-be-ex-wife the richest woman in human history.

However, as the process continues to unfold, many have started wondering if things may have ended up differently for Bezos if he turned to Bitcoin for help.

Bitcoin as a divorce tool?

In the last several years — since Bitcoin and other cryptos hit fame — many have started turning to BTC during their divorce proceedings. In fact, it can even be said that using the largest cryptocurrency in this way has become a new trend. The trend has been gaining so much strength that numerous law companies started including advice on what to do in regards to Bitcoin as part of their websites.

However, while the trend has been picking up in recent years, it is nowhere near as easy as it might seem. For example, if there is even a suspicion of a spouse having undisclosed holdings appears during the divorce process, it might be enough to impact the final decision of the judge. In other words, even if there is a complete lack of evidence, but…

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Three Biggest Things To Know Come Cryptocurrency Tax Season

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In recent years, digital cash systems known as cryptocurrencies such as Bitcoin and Litecoin have exploded into the public eye. A blend of cash and stocks, their use and value has grown exponentially. In 2017, the IRS decided to focus great effort on taxing them. In theory, this should be as simple as calculating taxes on any other type of property, bond, or other assets. Cryptocurrency, however, presents a unique challenge. The full extent of one person’s crypto activity can stretch across dozens of platforms and take a variety of different forms. This makes it difficult to gather all of this information cohesively, much less begin the seemingly- complicated process of reporting it.

These three tips should help anyone looking to legally report their crypto activity to figure out where to start.

Documentation is key!

There are dozens of different “exchanges” individuals can use to change their cash into crypto. When the flat currency is changed into cryptocurrency at the exchange, you establish your cost basis. This makes this data crucial when you begin the process of reporting.  Those who have used a variety of different exchanges should keep detailed records of everywhere that they made trades. Once tax season arrives, most exchanges will allow users to view their entire trading history with that exchange. This information will be necessary later to complete taxes.

Calculate your total gains

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