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25 Exchanges To Buy Bitcoin In The United States

25 Exchanges To Buy Bitcoin In The United States

Hong Kong-based Bitfinex has long been one of the largest USD Bitcoin exchanges in the world. Bitfinex accounts may be funded by bank wire only, their fee on accepting such transfers is low at only 0.1%. In August 2016, however, it was hacked and lost around 30% of its users funds. While Bitfinex can be helpful for buying large amounts of bitcoins, it is probably best to not use the exchange until it fully compensates affected users. Very low fees even for low volume buyers; 0.1% for market makers and 0.2% for market takers One of the best ways to buy large amounts of bitcoins Allows lending of fiat or bitcoin to margin traders at interest (but this is risky in light of the hack) Very deep liquidity promotes a price close to fair market rate Was recently hacked and has yet to fully compensate all users for their loss Geared towards traders; possibly quite confusing for first time buyers Continue reading >>

Square Cash App Releases Bitcoin Buy/sell Option To Almost All Users

Square Cash App Releases Bitcoin Buy/sell Option To Almost All Users

Square Cash App Releases Bitcoin Buy/Sell Option To Almost All Users Squares Cash App now allows almost all users to buy and sell Bitcoin, the companys CEO announced in a tweet. The Square Cash App, an app for sending and receiving fiat currency from the mobile payments company Square , has now made Bitcoin (BTC) trading available for almost all of its users, excluding those in New York, Georgia, Hawaii, and Wyoming. Jack Dorsey, CEO of Square and Twitter, announced the news in a tweet Jan. 31, which also included a short cartoon entitled My First Bitcoin, explaining Bitcoin to industry newcomers. Instant buying (and selling, if you dont want to hodl) of Bitcoin is now available to most Cash App customers. We support Bitcoin because we see it as a long-term path towards greater financial access for all. This is a small step. We also made this! Since Square operates on a Point of Sale (PoS) network, the addition of BTC to its mobile services means that in the future any merchant that uses Squares payment system will potentially be able to accept Bitcoin as a form of payment. While the company says they will not add additional transaction fees for buying and selling BTC on the Cash App, the app calculates the price at which you can buy and sell from the quoted mid-market price, an average across major exchanges. According to Squares site, users will be allowed to buy up to $10,000 in BTC a week, while there is no limit for selling. Square had previously announced in November 2017 that they would release a BTC trading option to a select 3 million customers, causing their stock to jump $1 billion in five days. Since the announcement Squares stock had increased by more than 3 percent when it closed Wednesday, Jan. 31. Squares announcement comes shortly after Robinhood, anot Continue reading >>

Square's Cash App Adds Option To Buy And Sell Bitcoin

Square's Cash App Adds Option To Buy And Sell Bitcoin

Square's Cash App Adds Option to Buy and Sell Bitcoin Squares Cash App has been updated to allow for purchasing of up to $10,000 worth of bitcoin a week.Since making the announcement, Square has seen its stock hasclimb nearly 3 percent. Cash App is a peer-to-peer payment system from Square that allows people to pay each other directly and quickly. This new update has been in trial mode for select users over several months and is now available to the public. Users will have access to bitcoin trading directly in the app with no additional fees being added by Square. Transactions fees will be set at a mid-market price that is averaged from various exchanges. Users are limited to purchases of up to $10,000 worth of bitcoin per week. The new feature is available to all Square customers except for those in New York, Georgia, Hawaii and Wyoming. For people new to bitcoin and cryptocurrency trading, the process is simplified by Square as they are the ones holding on to your bitcoin and executing the transactions: the bitcoin is tied to your Cash App account, not your device. While Square has a long history of secure transactions, this centralized system of holding users private keys is not an ideal security practice (see the recent Coincheck hack ), so users will have to consider whether they want to trade security for ease of use. To help newcomers to the cryptocurrency space, the company has created an interactive webpage to explain bitcoin to the average person. It also created an online picture book for children called My First Bitcoin and the Legend of Satoshi Nakamoto . Continue reading >>

Square Cash Is Letting Some Users Buy And Sell Bitcoin

Square Cash Is Letting Some Users Buy And Sell Bitcoin

Square Cash is letting some users buy and sell Bitcoin Voice API player Clique expands to Melbourne, Australia, with plans toinvest Square is testing cryptocurrency support in their Cash app, according to TechCrunch reader Zach Miles on Twitter and confirmed by the company. The trial, which seems to only be available right now to a small number of users, lets you buy and sell bitcoin directly in the app. The interface is very basic. Users who have access to the beta can swipe right from the Cash Card page to access bitcoin functionality. Once there users will see a balance in USD and BTC, a graph showing performance over the last day, month or year and buy / sell buttons. There is a button to generate a wallet address but the balance in one wallet address we checked didnt match the users bitcoin holdings, meaning Square is likely using pooled wallets to hold user funds and not storing private keys on a users device, similar to how Coinbase works. One source also said that a transaction sent to this address hasnt yet shown up in his balance, so its definitely more of a beta than a fully functional release. It seems that at least for now, the feature is centered around buying and selling bitcoin and not sending and receiving which is unusual considering Square Cash is known for sending and receiving money. As noted above theres a (potentially nonfunctioning) option to generate an address to receive bitcoin, but no option to send it. Its not yet clear what the fee structure will be or if there are daily buying or selling limits, or who Square is using as a liquidity provider for the transactions. Jack Dorsey has spoken publicly about the benefits of cryptocurrency and the blockchain, but hadnt acknowledged that Square was working on building the functionality into their C Continue reading >>

New Feature In Square's Cash App Lets Users Buy And Sell Bitcoin - Business Insider

New Feature In Square's Cash App Lets Users Buy And Sell Bitcoin - Business Insider

A vertical stack of three evenly spaced horizontal lines. * Copyright 2018 Insider Inc. All rights reserved. Registration on or use of this site constitutes acceptance of our The payment company Square is rolling out a new feature that lets users of its Cash app buy and sell bitcoin. Unlike some competitors, Cash doesn't yet let users pay or accept payment in bitcoin. The move allows Square to enter the bitcoin business; the cryptocurrency has seen its value and popularity soar lately. Some users of Cash, the Venmo rival from Square, can now buy and sell bitcoin inside the app. Square began rolling out the feature last week. It's still not widely available, but some users who have access to the new feature posted screenshots to Twitter. Those pictures show "buy" and "sell" buttons and a graph of bitcoin's fluctuating value over time. Square added the feature because users asked for it, the company said in a statement. The company is still trying to figure out how to make it "faster and easier" and is only offering it to a "small number" of Cash users, it said. "We believe cryptocurrency can greatly impact the ability of individuals to participate in the global financial system, and we're excited to learn more here," the company said in the statement. Cash is designed to allow individual consumers to send each other payments, such as when they split a check at restaurant. However, the new bitcoin feature in Cash doesn't yet allow users to pay others or accept payments in the cryptocurrency. Consumers can do that with other payment apps, such as Narwhallet. Still, the move allows Square to enter the bitcoin business. The cryptocurrency has soared recently in value and popularity. The new feature will allow Square to compete with cryptocurrency exchanges such as Coinbase Continue reading >>

Why Merrill Lynch Wont Touchbitcoin

Why Merrill Lynch Wont Touchbitcoin

Reporters are doing a disservice by mixing politics with business Merrill Lynch last week became the latest and largest Wall Street bank to say no to bitcoin. The brokerage arm of Bank of America said its 17,000 financial advisers cant sell the cryptocurrency to its clients, even though every Joe Lunchpail clamors for it. After a more than 2,000 percent gain last year, its the hottest thing to hit Wall Street since Amazon stock took off. Merrills thundering herd couldnt even sell one of the most popular gateway investments to bitcoin:, the Grayscale Bitcoin Investment Trust Fund. Sure, bitcoin is the flavor of the year, soaring from $970 to $20,000 in 2017. But it also traded at under $14,000 just six days after bubbling above $20,000 . Its unregulated and volatile something Main Street investors should avoid. UBS, which has a much smaller army of advisers, already bars its team from pitching bitcoin to clients. And JPMorgan Chase Chief Executive Jamie Dimon has called the crypto-asset a fraud. Though bitcoin is likely to evolve into a less volatile asset, the craze today reminds me of the 1990s know-it-all yuppie tech stock fad. Remember, people were in search of and often buying startup tech stocks that offered little more than a hope, a prayer and a crazy story about how they were going to take over the world. So many of those tech darlings turned out to be dogs and took those investors down with them. When bitcoins value falls again and it tumbled 30 percent in less than a week last month mom-and-pop investors will get burned and then get angry. Merrills move to keep its millions of small-time investors away from the nascent asset is smart and will ensure those clients wont have sleepless nights.. Will bitcoin become the future of digital currency? Maybe. Are digit Continue reading >>

People Keep Getting Charged With A Crime For Selling Bitcoin

People Keep Getting Charged With A Crime For Selling Bitcoin

People Keep Getting Charged With a Crime for Selling Bitcoin We called a lawyer to find out when selling bitcoin is "operating an illegal money transmission business" in the eyes of the law. With all of the headlines about the astronomical prices of various cryptocurrencies, you may have missed a troubling trend: US law enforcement keeps charging people with a crime for selling bitcoin. In May of this year, a man from Nixa, Missouri waived his right to a grand jury and pleaded guilty to "conducting an illegal money transmission business." According to a posting by the US Department of Justice , Jason Klein had conducted five separate in-person transactions of cash for bitcoin with undercover federal agents, ranging from $1,000 to $15,000 in value. Selling bitcoin in-person has long been a niche market for hobbyists who use the Finnish site localbitcoins.com to coordinate sales in their city. Selling bitcoins peer-to-peer is also an alternative to using centralized exchanges that operate as businesses. It's not illegal to sell bitcoins per se, but at least four people across the US this year have been charged or pleaded guilty to the crime of exchanging the cryptocurrency for fiat as a business without a license"business" being the keyword. Read More: I Visit Libraries to Sell Bitcoins to Random People from the Internet Why and when is selling bitcoins a crime? To find out, I called up Marco Santori , a lawyer specializing in bitcoin at Palo Alto-based firm Cooley . According to Santori, it's been an issue for bitcoiners since 2013, when the US Financial Crimes Enforcement Network declared that selling bitcoin as a business is money transmission that requires licensing. Individual states have followed suit, and New York's BitLicense legislation , for example, says you n Continue reading >>

When Trading In Bitcoin, Keep The Tax Man In Mind

When Trading In Bitcoin, Keep The Tax Man In Mind

Your Money |When Trading in Bitcoin, Keep the Tax Man in Mind Bitcoin may grab headlines when it skyrockets in value, as it did much of last year, or when it plunges precipitously, as it has this week . But the virtual currency has a reputation for providing a sense of anonymity to those who own it. That anonymity doesnt extend to the tax authorities, however. Come April, people who have bought and sold Bitcoin or any of the other digital currencies that have quickly sprouted across the web will be expected to report any profits on their federal tax returns. Considering Bitcoins jump of more than 1,500 percent last year, there are probably many people who logged gains or losses for the first time, as people rushed in with the irrational exuberance of the early dot-com days. But how much tax you owe will depend on how and when you acquired the digital currency which, in fact, isnt treated as a currency at all. Instead, for tax purposes, the Internal Revenue Service views Bitcoin and its cryptocoin cousins as property. For the most part, that means Bitcoin and other digital currencies will be treated similarly to an investment like stocks but not always. Given the speed at which these currencies have caught on Bitcoin was released only in 2009 regulators havent quite kept pace. The I.R.S. issued basic guidelines in 2014 for digital currencies, but tax experts say some of the rules are subject to interpretation. Every time you transfer a cryptocurrency, you might trigger a gain and pay a tax, said Selva Ozelli, a tax lawyer and accountant who has recently written about the tax implications of virtual currencies. In late 2016 , the I.R.S. made it clear that it was searching for cryptocurrency tax evaders: The agency sent a broad request to Coinbase , the largest Bitcoin ex Continue reading >>

Gemini The Next Generation Digital Asset Exchange

Gemini The Next Generation Digital Asset Exchange

All U.S. Dollar deposits are held at FDIC-insured banks. The majority of digital assets are stored offline in our proprietary, state-of-the-art Cold Storage system. All U.S. Dollar deposits are held at FDIC-insured banks. The majority of digital assets are stored offline in our proprietary, state-of-the-art Cold Storage system. Continue reading >>

No, A Guy Didn't Scam $1 Million By Selling Chuck E. Cheese Tokens As Bitcoins

No, A Guy Didn't Scam $1 Million By Selling Chuck E. Cheese Tokens As Bitcoins

No, a Guy Didn't Scam $1 Million by Selling Chuck E. Cheese Tokens as Bitcoins Social media users are praising a hero who was supposedly arrested in New York City for selling altered Chuck E. Cheese tokens as bitcoins. A report claims that he raked in $1.1 million with the scam. Sadly, there is no hero, and this story is phonier than Monopoly money. Scroll through Twitter and youll find numerous screenshots of a story titled Bitcoin Scam: Man Arrested After Making Over $1 Million Selling Chuck E. Cheese Tokens as Bitcoins from a website called Huzlers (please dont give the article clicks). People are dying laughing at the idiots who would fall for this scam and are applauding the man for giving people who jump on the Bitcoin bandwagon just what they deserve. In reality, the only people being scammed are the ones who believe this article is real. Huzlers, which identifies itself as the most infamous fauxtire & satire entertainment website in the world, is just another fake news site. In this case, the article almost qualifies as satire. Its funny, you cant be mad it, but its just a little too believable to fully tip into the absurd. And honestly, theres a solid chance that a lot of people sharing the article dont fully believe it deep down, they just want it to be true. Dont be one of those people. If theres any doubt that this isnt fake news, you can use the NYPDs various inmate lookup services to look for the fictional suspect. Hes identified by Huzlers as 36-year-old Marlon Jensen. The site also uses some guys mugshot in the lead image. Its unclear why the pictured man was arrested, but itwasnt because he made a million dollars by scratching Chuck E. Cheese off novelty prize tokens and drawing a B on them with a permanent marker, as claimed in the story. The Huzlers Continue reading >>

How To Sell Bitcoin - Dec. 12, 2017

How To Sell Bitcoin - Dec. 12, 2017

Related: I bought $250 in bitcoin. Here's what I learned Even when the exchanges are functioning properly, selling can be stressful. Once Coinbase recovered from its outage, I watched as the price shot up above $17,000, approaching a new high. I took that as a sign to sell. But actually submitting the transaction can feel like rolling the dice. Wait 30 seconds (or if the app is simply slow to load) and the price may rise or fall hundreds of dollars. For those who own large sums of bitcoin, there's an added complication: Services like Coinbase impose varying weekly buy and sell limits to protect accounts. But the limits, which can be as low as $2,500, may make it hard to dump all your holdings at once. Or as the company put it in the blog post last week, "Due to the rapidly changing price of digital currencies, some customers may not have sell limits that are sufficient relative to the value of total digital currency they are storing on Coinbase." And then there are the delays. Several days after I bought the original $100 worth of bitcoin, I purchased another $150 worth before deciding to put an end to my brief life as a bitcoin trader. It took a full week for the first transaction to go through. The second transaction is still pending. Put another way: If the price of bitcoin were to plunge 50% this afternoon and I wanted to sell, I would be unable to sell the second batch I'd purchased because technically I still don't have it. As for that original $100, I ended up netting about $50 in profit after various fees for buying and selling. When that money finally hits my bank account on Friday, I intend to take my wife out to a dinner to make up to her for all the bitcoin talk this month. CNNMoney (New York) First published December 12, 2017: 5:20 PM ET Continue reading >>

Businesses In New York That Accept Bitcoin

Businesses In New York That Accept Bitcoin

What to know about the crypto-craze before it implodes. Its easy to forget, amid skyrocketing values, that the anonymous digital currency bitcoin was created to function as, well, a currency . Unfortunately for people whod like to pay for (or sell) their bacon-egg-and-cheeses in cold, hard bitcoin, the currency faces some adoption problems. For one thing: Over the last year, bitcoin has increased in value 15-fold, which means a three-dollar bagel you bought with bitcoin last December would have become $45 in your bitcoin wallet if youd left it alone. What Its Like to (Almost) Become a Cryptocurrency Millionaire Nobody is really selling bitcoin right now while its value is so high, says Daniel Sim, the owner of Lean Crust Pizza. Sim started accepting bitcoin at his Fort Greene pizzeria in 2013, along with a host of cafs and grocery stores in Brooklyn and Queens owned by his parents. Sims interest in using cryptocurrency as a payment method has turned Fort Greene into the nascent bitcoin capital of New York, with six restaurants, groceries, and a nail salon Lean Crust, Greene Ave. Market, Fresh Garden, Greene-Ville Garden, Kinjo, and Mirai Wellness Spa clustered in the neighborhood. Sim, who has been interested in and invested in bitcoin since he heard about it in 2009, said that he got a flurry of interest when he first instituted bitcoin payments, with about 50 to 100 transactions per week, but that it tapered off after the initial burst of publicity. (For reference, over the course of 2013, the price of one bitcoin rose from around $10 to around $1,000.) Sim is optimistic about the cryptocurrencys future, and said that he still holds out hope for bitcoin as a mass-consumer payment method. But beyond a few transactions at his familys businesses in recent months the fir Continue reading >>

Fact Check: Did A Man Sell Chuck E. Cheese Tokens As 'bitcoins'?

Fact Check: Did A Man Sell Chuck E. Cheese Tokens As 'bitcoins'?

Did a Man Sell Chuck E. Cheese Tokens as 'Bitcoins'? A story claiming that a man had scammed people by selling "Bitcoins" was just fake news from a repeat offender. A New York City man made a million dollars selling altered Chuck E. Cheese tokens as "Bitcoins". On 18 December 2017, the web site Huzlers leveraged news about the cryptocurrency Bitcoin spiking in value to falsely claim a man had swindled over million dollars from people by selling altered Chuck E. Cheese tokens as Bitcoins: Marlon Jensen, 36, was arrested a Sunday morning when NYPD stormed his home. NYPD received calls from the fraud victims that someone had sold them Bitcoins, only to find out there actually was no tangible bitcoin currency available. NYPD found $1.1 Million of cash inside Marlons home. According to police, Marlon had scratched off most of the Chuck E. Cheese engravements on the coins, and would write B on each coin with permanent marker. People are retarded haha, said NYPD Officer Michael West, My 8 year old son would know those werent bitcoins and lord knows hes not the brightest. Huzlers is a well-known purveyor of hoaxes typically based on popular topics, and as always, there was no truth to the claim. Aside from the fact that bitcoins are not an actual form of physical currency, Chuck E. Cheese retired their usage of tokens in 2016 and introduced cards in their stead. Huzlers features a disclaimer asserting that it is the most infamous fauxtire & satire entertainment website in the world [i]f its trending on social media youll find it here! The fake news outfit previously sucked up social media views with fictitious tales about 15 consecutive days of darkness , cocaine in Coors Light beer, and, more recently, a tall tale about a famous bullied child being robbed of GoFundMe donation Continue reading >>

Is Legal To Buy/sell Bitcoins In New York? : Bitcoin

Is Legal To Buy/sell Bitcoins In New York? : Bitcoin

Do not use URL shortening services: always submit the real link. Begging/asking for bitcoins is absolutely not allowed, no matter how badly you need the bitcoins. Only requests for donations to large, recognized charities are allowed, and only if there is good reason to believe that the person accepting bitcoins on behalf of the charity is trustworthy. News articles that do not contain the word "Bitcoin" are usually off-topic. This subreddit is not about general financial news. Submissions that are mostly about some other cryptocurrency belong elsewhere. For example, /r/CryptoCurrency is a good place to discuss all cryptocurrencies. Promotion of client software which attempts to alter the Bitcoin protocol without overwhelming consensus is not permitted. Trades should usually not be advertised here. For example, submissions like "Buying 100 BTC" or "Selling my computer for bitcoins" do not belong here. /r/Bitcoin is primarily for news and discussion. Please avoid repetition /r/bitcoin is a subreddit devoted to new information and discussion about Bitcoin and its ecosystem. New merchants are welcome to announce their services for Bitcoin, but after those have been announced they are no longer news and should not be re-posted. Aside from new merchant announcements, those interested in advertising to our audience should consider Reddit's self-serve advertising system . Do not post your Bitcoin address unless someone explicitly asks you to. Be aware that Twitter, etc. is full of impersonation. Continue reading >>

Feds Charge New York Woman With Sending Bitcoins To Support Isis

Feds Charge New York Woman With Sending Bitcoins To Support Isis

Sign up or login to join the discussions! Feds charge New York woman with sending bitcoins to support ISIS Zoobia Shahnaz was arrested at the airport on her way to Turkey. A woman in Long Island, New York, has been charged with money laundering in support of a terrorist organization after she allegedly borrowed money that she used to buy bitcoins to support ISIS. Want to really understand how bitcoin works? Heres a gentle primer Zoobia Shahnaz "defrauded numerous financial institutions and obtained over $85,000 in illicit proceeds, which she converted to Bitcoin and other cryptocurrencies," according to a press release from federal prosecutors . She then allegedly sent the funds outside the United States to support the actions of the Islamic State. Shahnaz next tried to fly to Turkey. Federal prosecutors say she was ultimately bound for Syria, but they detained her at New York's John F. Kennedy Airport. The press release states thatShahnaz "fraudulently applied for over a dozen credit cards, which she used to purchase approximately $62,000 in Bitcoin and other cryptocurrencies online." She also obtained a$22,500 loan, which the feds say were obtained through fraudulent means. Bitcoin is often described as an anonymous payment network, but that's not exactly true. You don't need to disclose your identity to use the Bitcoin network.But Bitcoin's blockchain is public, which means that anyoneincluding federal prosecutorscan examine the complete record of every bitcoin transaction ever made. Moreover, mainstream Bitcoin exchanges generally do require customers to provide their identities before they can buy or sell bitcoins. And federal prosecutors can often subpoena these records to link a blockchain address with a real-world identity. With such details, Bitcoin is far fro Continue reading >>

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