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Bitcoin & Cryptocurrency Trading

Bitcoin & Cryptocurrency Trading

There is a lot of money to be made trading Bitcoin and other cryptocurrencies. 2016 & 2017 have seen an explosive growth in cryptocurrency value. In October 2017, the leading derivates marketplace, the Chicago Commodity Exchange indicated that it will launch futures for bitcoin before the year-end. Cryptocurrencies are here to stay and are gaining popularity with Forex traders. Cryptocurrency trading is Forex trading, but a cryptocurrency as one of the two currencies in the pair. The best example of a cryptocurrency is Bitcoin that is seeing explosive growth and adoption by different financial institutions around the world. You can trade bitcoin with any Forex broker allowing the trade of BTC with another currency. The brokers above will allow you trade BTC and a handful of other cryptocurrencies within their real account or demo account. You can get started just as with trading regular currencies, where selecting a broker is the first step. BTC, BCH, ETH, ETC, XRP, DASH, LETC, XMR, NEO BTC, BCH, BTG, ETH, XRP, DASH, LETC, XMR, NEO, ZEC With the high volatility in the Bitcoin marketplace, the little fundamental analysis required to trade cryptocurrencies, and the limited leverage offered by brokers for this asset class, makes learning to trade Bitcoin is quite unique. To learn to trade Bitcoin, you must learn to understand chart data and analyze trends (technical analysis). This is the main tool that you will use to decide how to enter and exit your trade. How are Cryptocurrencies different to normal currency? Over the last decade, the supply of money has grown exponentially which was the greatest growth in the supply of money in history. Our money system is controlled by the Central Banks, which in fact is a fiat currency system that has the power to create money. All Continue reading >>

7 Things Every South African Should Know About Cryptocurrency

7 Things Every South African Should Know About Cryptocurrency

7 things every South African should know about Cryptocurrency If youre interested in your financial future and are remotely concerned about how to manage it, a new phenomenon has entered the stratosphere of planet earth over the last 8 years called cryptocurrency an exciting variation of digital money deemed to be the future of all currency as we know it. Having exploded during the last 2 years thanks to the popularity of the Bitcoin currency, its exceptional platform for innovation and as well as its high profile scandals involving celebrities like Kanye West , cryptocurrency is currently one of the hottest topics in the international world of banking and technology convergence I took some time out to interview a South Africa expert and Bitcoin trader (who requested to stay anonymous) who breaks down some basic information on what cryptocurrency is and how it could impact the lives of ordinary South Africans. This is not one for my tech geeks, but rather, an informative entry level article to explain cryptocurrency to South Africans who are currently not aware of its explosive potential Could you explain cryptocurrency to the average South African in simple English? I think they should learn more about their own currency first to get excited about cryptos. Cryptocurrency is completely decentralized from both banks and governments - the benefit being no interference and little to no charges. Cryptocurrencies are created for this purpose; to exchange value from one person to another freely and on their own terms. Any person can create their own crypto coin, the first one being Bitcoin. But there are hundreds if not thousands of others. There is even a Madiba coin. Bitcoin is famed for its blockchain. What is a blockchain and how does it work? So if you were a bank, you Continue reading >>

Declare Cryptocurrency Gains Or Losses, South Africa Tells Taxpayers

Declare Cryptocurrency Gains Or Losses, South Africa Tells Taxpayers

Declare Cryptocurrency Gains or Losses, South Africa Tells Taxpayers Join our community of 10 000 traders on Hacked.com for just $39 per month. South Africas tax agency has told taxpayers that cryptocurrency-related income will fall under normal tax rules and may also be liable for capital gains tax. The South African Revenue Service (SARS) has reminded taxpayers that the onus is entirely on them to declare cryptocurrency gains or losses as part of their taxable income. Crypto-related gains or losses can occur through mining or trading, purchasing cryptocurrency at exchanges and their usage as payments in transactions, the taxation agency said on Friday. While cryptocurrencies arent seen as a currency by SARS for income tax purposes, they are deemed as assets of an intangible nature, SARS clarified. Gains from cryptocurrency-related investments and holding may be regarded as capital in nature in certain scenarios while taxpayers are also entitled to claim expenses and deductions from cryptocurrency accruals or receipts. While SARS says it has fielded calls from the public to provide clarity on cryptocurrencies for taxation purposes, the tax agency insists that standard rules apply. There is an existing tax framework that can guide SARS and affected taxpayers on the tax implications of cryptocurrencies, making a separate Interpretation Note unnecessary for now, the tax agency said. The onus is on taxpayers to declare all cryptocurrency-related taxable income in the tax year in which it is received or accrued. Failure to do so could result in interest and penalties. For miners, specifically, successfully mined coins will be deemed as trading stock until it is sold or exchanged for cash, according to the notice. Furthermore, the tax agency clarified that it would not incl Continue reading >>

How To Buy South Africas Newest Cryptocurrency

How To Buy South Africas Newest Cryptocurrency

How to buy South Africas newest cryptocurrency South African cryptocurrency startup Project UBU has launched its initial token sale (ITO), letting investors purchase its UBX tokens. UBX is an ERC-20 token which runs on the Ethereum blockchain and represents a stake in the Project UBU platform. Project UBU is a basic universal income project which aims to reduce poverty in sub-Saharan Africa by distributing digital currency to all participants, which can be used as payment for goods and services. The team behind the project includes Bridge Capitals Dudley Baylis, former Vox CEO Douglas Reed, Tuluntulu CCO Justin McCarthy, and former Anglo American and Altech CTO Steven Sidley. Funds raised from the UBX token sale will be used to implement the Project UBU platform, and UBX holders will receive UBU tokens based on the amount of UBX tokens they hold. The UBX token sale will have a standard ICO format consisting of three phases the pre-sale, public sale, and contract sale. Tokens are stored in a smart contract and released to investors who bought into the token sale. Smart contract releases UBX tokens to buyers Early investment funds released from escrow The coin offering will close on 15 November and the delivery of UBU tokens to UBX holders will commence on 30 April 2018. In the first phase of the sale, buyers can make early deposits in fiat or digital currency, but the public and contract sale will only accept deposits in ether (ETH) and Bitcoin (BTC). To purchase tokens in the later phases, you will need to send the funds from a Bitcoin or Ethereum wallet. Investors who purchase UBX in the pre-sale phase will receive an extra 25 tokens for every 100 they purchase, a bonus of 25%, said Project UBU. Wallet addresses will be published on the Project UBU website at the star Continue reading >>

South Africans Riding The Cryptocurrency Wave

South Africans Riding The Cryptocurrency Wave

South Africans riding the cryptocurrency wave A website features cryptocurrency token sales and ICO (Initial Coin Offering) lists in Berlin, Germany on November 26, 2017. Photo: JOHN MACDOUGALL / AFP JOHANNESBURG -As bitcoin fever sweeps the world, a growing number of South African investors are jumping on the cryptocurrency bandwagon in the hope of enjoying what has so far been a wild ride. We are seeing a massive increase in interest in cryptocurrencies, says Werner van Rooyen of Luno, one of two bitcoin trading platforms registered in South Africa as a financial services provider. Reflecting this, bitcoins worth R300-million were traded on the Luno platform on 1 December. Gareth Grobler of the other registered trading platform, ICE3X, says: We estimate that between 200,000 and 300,00 people in South Africa are now involved in cryptocurrencies. But bitcoin is far from being the only cryptocurrency worth consideration; there are 1,320 cryptocurrencies available. While most have only curiosity value, there are 17 with market values of $1-billion or more that are in with a fighting chance of grabbing the growing investor attention. Bitcoin which gave the world tamper-proof digital public ledger technology blockchain and first appeared on the scene in January 2009 undoubtedly rules the roost, with a market value of $188-billion, or 56 percent of a market that is worth $377-billion. Ethereum runs a distant second at $45.4-billion. But that is pretty good going for the cryptocurrency developed by Vitalik Buterin that launched more than five years after bitcoin came into being. Compared with bitcoin, ethereum has been the cryptocurrency to back over the past 12 months. While bitcoins price rose only 1,365 percent to its current $11,202, ethereums price soared from $6.27 to Continue reading >>

Normal Tax Rules Apply To Crypto Income, Says South Africa

Normal Tax Rules Apply To Crypto Income, Says South Africa

Normal Tax Rules Apply to Crypto Income, Says South Africa Apr 9, 2018 at 12:00 UTC|UpdatedApr 9, 2018 at 12:04 UTC South Africans can declare cryptocurrency-related taxable income under standard rules, the country's tax agency has said. In a statement issued on Friday, the South African Revenue Service (SARS) clarified its stance on tax treatment of cryptocurrencies, explaining that taxpayers who have either traded, received or mined cryptocurrencies are expected to report gains or losses Crypto earnings may be treated under "normal income tax rules" or may be liable for capital gains tax (CGT), according to the announcement. "There is an existing tax framework that can guide SARS and affected taxpayers on the tax implications of cryptocurrencies, making a separate Interpretation Note unnecessary for now," the revenue service said. SARS added that the "onus is on taxpayers to declare all cryptocurrency-related taxable income in the tax year in which it is received or accrued. Failure to do so could result in interest and penalties." However, expenses associated with cryptocurrency accruals or receipts may be deductible during the tax reporting process under certain conditions. The notice comes as a result of the agency noting increasing levels of popularity and speculation around cryptocurrencies, which subsequently led to an investigation into the tax consequences of the technology. Consequently, it categorized cryptocurrency as an "intangible asset" forincome tax or CGT purposes. Finally, the agency said it currently does not apply value added tax (VAT) on cryptocurrency sales. A move to clarify the situation was promised in the 2018 budget review in February. South African rands image via Shutterstock The leader in blockchain news, CoinDesk is a media outlet that s Continue reading >>

Cryptocurrency Archives - Ice3x Bitcoin, Litecoin & Ethereum Exchange - South Africa

Cryptocurrency Archives - Ice3x Bitcoin, Litecoin & Ethereum Exchange - South Africa

April 9, 2018 Francois Articles , Compliance , Market News SARSs stance on the tax treatment of cryptocurrencies is that it will continue to apply normal income tax rules to cryptocurrencies and will expect affected taxpayers to declare cryptocurrency gains or losses as part of their taxable income. Cryptocurrencies are not legal tender in South Africa, and since they are not widely used and accepted [] February 2, 2018 Francois Bitcoin , Bitcoin Cash We have had many requests by users whether we will be adding Bitcoin Cash (BCH) to the iceCUBED exchange, and after careful consideration we have decided to open the Bitcoin Cash / Rand market on the exchange. User are now able to trade Bitcoin Cash in South Africa at iceCUBED exchange for Rand. What is [] March 2, 2015 Staff Writer Articles , Charities , Cutting Edge Innovation , Opinions , Ripple , Uncategorized Bitcoin women? Who or What on earth are they, never you mind where? If youre into bitcoin, I can virtually guarantee, you find yourself in a girl free zone If youre the kind of guy who wants a riotous time away from female scrutiny or just a little head space to create your fortune, then [] December 8, 2014 Staff Writer Articles , Cutting Edge Innovation , Devices , News & Events Its become a truism in the bitcoin community that widespread acceptance of bitcoin will come when the background process of selling and buying or paying for something is virtually no more complicated than swiping a contactless card. Money in, money out, trade accomplished. The second prerequisite, looks like its on the verge of happening. It [] August 21, 2014 Nicolise Harding Articles , Interviews , News & Events , Opinions The first Bitcoin ATM has hit the streets of Johannesburg. Rolf Deppe and business partner, Monre Botes, are the Continue reading >>

Cryptocurrency Trading | Avatrade

Cryptocurrency Trading | Avatrade

AvaTrade now offers all traders the opportunity to trade a wide range of the top ranked digital coins 24/7. Today cryptocurrencies have become known to most people as a conventional and popular investment option. The main purpose of this new technology is to allow people to buy, trade, and invest without the need for banks or any other financial institution. Cryptocurrencies are highly volatile and can be profitable to any traders portfolio. Cryptocurrencies are not physical coins they are electronic, a digital asset that remains as data. The technology behind the cryptocurrency controls a large part of its value which holds new technology on the secure way to identify and transfer money. The first digital coin introduced was Bitcoin and today it remains as the standard that all other coins compare themselves to. Following in its steps came Litecoin , so to date they stand as the top 2 highly valued coins on the market. There are several other coins also reaching a high-level market share such as Bitcoin Cash, Dash , Ripple , Ethereum , Monero and NEO. Trade top cryptocurrencies such as Bitcoin, Bitcoin Cash, Litecoin and Ethereum 24/7 at AvaTrade and enjoy trading conditions no other cryptocurrency exchange can provide. This year alone has seen an absolute explosion in the number of cryptocurrency offerings. Find out below about the other high-profile cryptos such as NEO, Monero, Ethereum Classic, Dash, IOTA, and Zcash. AvaTrade offers competitive spreads, with no commissions charged on transactions making it more profitable. When trading with AvaTrade you are trading on the price changes of the digital coin, and not physically purchasing it. Trading with AvaTrade ensures that you will trade with a 100% reputable broker.More reasons to trade cryptocurrencies with AvaT Continue reading >>

Cryptocurrency Regulation In South Africa - What Do You Need To Know?insights Into The Law In South Africa | Welcome To Go Legal

Cryptocurrency Regulation In South Africa - What Do You Need To Know?insights Into The Law In South Africa | Welcome To Go Legal

Topics Banking & Finance Law | Tax Law | Technology Law The South African government is looking into regulating the cryptocurrency industry. Is there anything you need to know about cryptocurrency regulations in South Africa? This article will focus on the South African Reserve Banks (SARB) whitepaper issued in 2014 about virtual currencies and Decentralized Convertible Virtual Currencies (DCVCs). To assess this matter, we will try to expound on four key issues relating to the acquisition and use of cryptocurrencies in South Africa. Are cryptocurrencies legal in South Africa? How do taxation laws affect cryptocurrency in South Africa? Can one get recourse within the justice system on matters relating to cryptocurrency? Are there plans to regulate cryptocurrencies in South Africa? Is the use of cryptocurrency legal in South Africa? The complicated part would be to ask you: is whatever you are doing with the cryptocurrency legal? For most of us, the answer is also yes, it is legal. If that is the case, what is the position of the authorities? The cryptocurrency landscape in South Africa is, at the moment, largely unregulated. However, the South African Reserve Bank issued a whitepaper in 2014 outlining its position on what it called virtual currencies (VCs) and Decentralized Convertible Virtual Currencies (DCVCs). Here are some points to note about cryptocurrencies in general from that whitepaper: 1. Cryptocurrencies are not legal tender according to the SARBs definition, legal tender is simply the notes and coins that are officially issued by a bank (read section 3.2.3 of the whitepaper). Since cryptocurrencies do not exist in physical form, they fall outside the realms of the above definition. According to the SARB Act, 1989, the Reserve Bank governs and has sole right Continue reading >>

Everything You Need To Know About The South African Cryptocurrency Ecosystem

Everything You Need To Know About The South African Cryptocurrency Ecosystem

By Stephen Timm: Editor on 30 November, 2017 A day doesnt pass without news on the price of Bitcoin, the latest initial coin offering (ICO) or the launch of a new cryptocurrency. With the increasing interest in cryptocurrencies Ventureburn brings you a listing on where to go to get help if you want to invest in, build or simply know more about cryptocurrency in South Africa. While South Africa does not currently regulate cryptocurrencies, the Reserve Banksposition on virtual currencies is set out in the Position Paper on Virtual Currencies issued in 2014. The bank also recently established a dedicated fintech programme to increase focus and assist the existing working groups to research and analyse technology innovations in the financial services industry. Part of the review is aimed at assessing the impact on cross border financial flows and stability of the financial system (read more here ). To gain a better understanding oncryptocurrency see this basic guide from The Wired or this one by Blockgeeks,as well as one by Coin Desk.On more on such things as how to get started investing in Bitcoin in South Africa check out Bitcoinzar . There are a number of South African platforms that sell and buy Bitcoin and other cryptocurrencies. Two of the most reputable are Luno and iceCUBED . Luno allows users to buy and sell digital currencies such asBitcoin. In September 2017 the startup received a R120-million injection in a funding round lead by London-based venture capital firm Balderton Capital. Rand Merchant Investments, through its fintech investment arm, AlphaCode, and existing investors Digital Currency Group also participated in the round.The platformalso announced its expansion into 35 new markets across Europe. The announcement follows Lunos R60-million Series A round Continue reading >>

$50-million Cryptocurrency Scam Cripples South African Investors

$50-million Cryptocurrency Scam Cripples South African Investors

$50-million cryptocurrency scam cripples South African investors Numerous victims from across the country had invested between R16000 and R1.4-million with BTC Global as forex and commodities trader Steve Twain (in the photo) who was a 'master trader'. More than 27500 people including South Africans Americans and Australians have been duped by the one of biggest bitcoin scams to hit South Africa. Hawks spokesman Captain Lloyd Ramovha on Thursday confirmed that the serious commercial crimes unit was investigating complaints against BTC global a company in which thousands invested cryptocurrency valued at over $50-million by transferring bitcoins into an online wallet address. "I have spoken to one of the investigators in our team and he has confirmed that this matter came to them about two weeks ago. There are in excess of 27500 complainants with many outside South Africa. "The amount is over $50-million and could rise as more victims come forward" said Ramovha. He could not confirm if the scam artists were South Africans. "The investigation is in its infancy. I also cannot say whether it is a Ponzi scheme. BTC Global is being investigated for contravening the Financial Advisory and Intermediary Services Act" he said. Numerous victims from across the country told TimesLIVE that they had invested between R16000 and R1.4-million with BTC Global as forex and commodities trader Steve Twain was a "master trader". They received inconsistent weekly payouts until Twain disappeared two weeks ago. They now believe that Twain did not exist. His administration team wrote on Facebook two weeks ago that they could not locate him. Continue reading >>

Buy Over 30 Cryptocurrencies In South Africa With Coindirect

Buy Over 30 Cryptocurrencies In South Africa With Coindirect

Buy over 30 cryptocurrencies in South Africa with Coindirect Coindirect , arecently-launched cryptocurrencyexchange, has started offering services in South Africa. The exchange allows buyers to purchase cryptocurrency directly from sellers, and themarketplace supports the trading of over 30 cryptocurrencies. It also includesan online wallet service for users. To see what setsCoindirect apart,MyBroadband spoke to Coindirect marketing manager Nicole Watson about how the platform works. Coindirect is a peer-to-peer cryptocurrency marketplace which allows buyers to purchase currencies directly from sellers, using local payment channels in their own currency. Buyers can view offers from multiple sellers and choose which offer to accept. An order is created once an offer is accepted and it is completed once the buyer has paid the seller. Coindirect then releases the purchased cryptocurrency to the buyers online wallet. Typically, if one wants to buy an altcoin in South Africa, it can be a time-consuming, cumbersome process whereby one would have to utilise a number of exchanges and platforms in order to make a simple purchase, said Watson. However, Coindirect is the only platform that allows one to buy, sell, and also convert over 30 altcoins instantly, direct with local currency. Customer wallets function similarly to those on exchanges like Luno, and Coindirect does not provide users with their private key. Coindirect is registered with the Isle of Man FSA and complies with all local FIC regulations for South Africa, it said. Coindirect added that its instant-verified bank transfers and AI-driven fraud prevention engine gives it an advantage over traditional marketplaces. The main advantage of a peer-to-peer exchange is that the price of the cryptocurrency in local currenc Continue reading >>

South Africa Launches The First Cryptocurrency

South Africa Launches The First Cryptocurrency

South Africa launches the first cryptocurrency Cryptocurrency and Blockchain technology is officially on South African soil after the country launched its first start-up called Project UBU. The project rolled out its ITO (Initial Token Offering) of their UBX token with a pre-sale in September 2017. The public sale took off on 29 September 2017 and ran until 21st October 2017. After that, a contract sale was undertaken between 21st October 2017 and 15th November 2017. Project UBU is part of the Universal Basic Income projects that aim to significantly reduce poverty levels in Africa through a decentralized distribution of digital currency to the poor. The projects ambition is to develop an alternative, global and decentralized cryptocurrency that will help bring some economic freedom to millions of poor people around the world. Project UBU is, therefore, a cryptocurrency system whose aim is to provide UBIs (Universal Basic Income) to the worlds poor population. The fundamental principle is to apply blockchain technology to unlock and freely distribute trapped and inefficient economic assets to every underprivileged person who chooses to receive them. These will be in the form of UBU tokens which can be used to buy goods and services. In addition to the people who see in cryptocurrencies a way to invest and earn money , many people see cryptocurrencies as a way to help the poor and change the world. UBU Core is the entity behind the UBU project . It was started in November 2016 before being officially constituted as an LLC in April 2017 by the laws of South Africa. The whole project will eventually be anchored on the Ethereum network. UBU Core has three defined operating phases: Minimum Viable Product the initial period under which the project was developed, including th Continue reading >>

What South Africans Think About Investing In Bitcoin And Other Cryptocurrencies

What South Africans Think About Investing In Bitcoin And Other Cryptocurrencies

What South Africans think about investing in Bitcoin and other cryptocurrencies Cryptocurrencies are seeing increasing popularity in South Africa and at one point Google searches for the term Bitcoin topped every other country in the world. However, the jury is still out when it comes to digital coins as a means for investment. That is according to a survey conducted by PSG Wealth and Survey Monkey in the fourth quarter of 2017. Cryptocurrencies have since endured a roller-coaster ride, with Bitcoin as an example falling just short of $20,000 in mid December, before falling all the way back down below $6,000 earlier this week after the World Bank chief described the cryptocurrency as a bubble and Ponzi scheme. PSG Wealth noted that major critics of the cryptocurrency boom have been, among others, famous investors like Warren Buffet and Howard Marks. While institutional investors have been the harshest critics of these new digital coins as too speculative to warrant the risk, many small investors and hedge funds continue to take a gamble on their returns. According to Credit Suisses Global Markets Research Department, the value of Bitcoin has been three times as volatile as the price of oil and 11 times more than the post-Brexit exchange rate between the US dollar and the British pound. PSG Wealth said it noticed the increased hype surrounding Bitcoin, due not only to the fascinating background of this currency, but also the massive return numbers which are widely reported in mainstream media. As such the group distributed its own stance on digital coins in September last year, highlighting its risks. PSG Wealth said it would be more comfortable to consider Bitcoin, in some shape or form: When credible research and regulatory oversight is common place When wealth manage Continue reading >>

How To Buy Bitcoin, Ethereum And Litecoin In South Africa On Ice Cubed Exchange

How To Buy Bitcoin, Ethereum And Litecoin In South Africa On Ice Cubed Exchange

To use the Ice Cubed exchange, the first step is to register on the exchange by signing up for a new account. Follow this link ( ) to register, or click the banner below. Sign up for an account on Ice Cubed exchange Once you visit the Ice Cubed website, click on the Register button at the top right of the website to sign up for an account. On the next screen you will need to put in your email address, and choose a password of at least six characters to begin. Complete this step, then immediately check your email for the confirmation email that they send you. In your email that you receive from Ice Cubed exchange, click the Activate link, or simply copy the URL they give you and paste it into your browser address bar. When you click the activate button, or go to the URL, you will get to the home screen, and you will now be able to login on the exchange. Click the login button on the home page. On the login screen, use the email address and password you just used to register with, and click the login button to continue. Once you have logged into the website, you need to go to the Account page, so that you can complete your profile, and also so that you can deposit some money to fund your account, and buy cryptocurrency. When the Account screen opens, click the red Verification button to complete your profile. If your profile is not completed you will still be able to deposit and trade, but you will not be able to withdraw funds until verified, so best to get that done as soon as possible. On the Verification screen, you can complete your personal profile, and also add your bank account details. Once you have added your details, you will get an email that you can reply to, that you can attach your proof of address and a photo / scan of your ID book. If you would like to s Continue reading >>

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