Baidu, Chinas Google, Releases Blockchain Based Image Rights Protection

The Chinese Internet search engine Baidu, released a digital image property rights management platform based off of blockchain, which the company announced on April 11.

The service is called Totem. It timestamps each submitted image with the real time identity as well as other user data. It then stores this data on a traceable blockchain.

According to Baidu, the platform will take advantage of existing artificial intelligence including image analysis and semantic understanding. This system will construct unique image tags within the blockchain system allowing images to be traced, reproduced and monitored. This will help refute allegations of any future copyright infringements.

Traditional stock photography services like Getty Images and Visual China Group have already moved on to the platform.

In January 2018, Kodak also announced their own image rights management system utilizing the blockchain technology. It uses a digital ledger to establish copyright ownership and offers KodakCoin for those within their online community. This token will be used to pay and receive dividends of image licenses.

The value of Kodak’s stock nearly doubled in value following the announcement of its blockchain platform. The launch of its coin was delayed as according to the SEC , it’s required to evaluate the financial status of US-based investors.

First Blockchain Commodity Trade Between China and Singapore

First Blockchain Commodity Trade Between China and Singapore

One of China’s four major state owned oil companies, Sinochem Corporation, has completed a shipment of gasoline from China Singapore utilizing blockchain technology entirely as reported on April 2.

This was the first time the blockchain technology has been applied to all key participants in commodity training process. The shipment was sent by Sinochem Energy Technology from Quanzhou, China to Singapore.

In December 2017, Sinochem Group completed its first crude oil blockchain import transaction. The blockchain technology has been used in both logistics and shipping. The Chinese retail giant JD.com will also be using blockchain technology to monitor your orders and ensure customer product quality.

United States Postal Service recently filed a patent to use blockchain technology for its customer identity verification.

Walmart has also reported that will be using blockchain technology for their “smart package” system. This system will use blockchain to track the contents, location, and environmental conditions of their packages.

Chinas New Central Bank Head Yi Gang is Pro Cryptocurrency.  Will It Impact the Industry?

Chinas Newest Central Bank Head Yi Gang is Pro Cryptocurrency. Will It Impact the Industry?

Yi Gang, an American trained economist who was elected by the Chinese government to take over the Peoples Bank of China, could have a very positive and significant impact on the cryptocurrency market moving forward.

Pro Market Equals Pro Crypto Freedom

yi-gang-chinese-bankYi Gang as well as Chinese President Xi Jinping have both consistently emphasized how important market liberalization is to their long-term plan to increase the flexibility of Chinese markets.

Ever since the election of Yi Gang, for the first time ever, the Chinese government has allowed foreign companies to enter the country’s payment sector against local eCommerce giants like Alibaba’s AliPay and their largest technology corporation Tencent’s Tencent Pay.

Let’s Put This in Context – Tencents Gaming

tencent-gaming-chinaFor context purposes, China’s Tencent gaming company created a plethora of successful acquisitions over the last few years including Riot Games for one of the most popular online games League Of Legends. This game surpassed Facebook’s market valuation in November 2017 when it became the first Asian company to break the 500 billion dollar mark.

It was also announced back in 2016 that there were more viewers watching the League Of Legends than the NBA finals. The League Of Legends esports finals were hosted in Beijing National Stadium which held a capacity of 91,000 people.

As you can see, the success of Tencent and its dominance over the global gaming industry, as well as social media, messaging, and its payment markets is very important to acknowledge. It’s the first time that any company has given the Chinese government competition within the finance sector.

Chinese Presidents Narrative Towards Crypto

Analyst Jon Creasy stated that the Chinese government will likely open its cryptocurrency market once President Xi establishes his government once again.

He states…

“Historically speaking, President Xi Jinping has been one of the largest advocates of free markets China has seen in quite some time, and I expect this trend to continue. But for now, Mr. Xi must appeal to the people who keep him in power: the Communist Party. In my opinion, banning Bitcoin exchanges is nothing short of temporary glad-handing. Supposing this is true, what should we be doing about it?”

The Chinese government continues their plans to liberate the Chinese market, beginning with the payment sector which is largely dominated by other domestic companies.

The next target market for the Chinese government could be the cryptocurrency marketplace. Blockchain projects from China like VeChain and NEO are still able to continue their developments, even though there is a temporary ban on cryptocurrency trading.

Chinese Cryptocurrencies

neo-chinese-cryptocurrencyVechain, Qtum, and NEO are multibillion-dollar projects established by development teams located in China. These 3 cryptocurrencies are some of the largest in the global marketplace, with NEO being the 9th largest with $83.7 billion valuation.

With the government support towards blockchain projects and initiatives, as well as the election of pro market economists like Yi Gang, it’s very possible that pro blockchain legislation will be released in the long term by Chinese.

The Chinese government has currently banned cryptocurrency trading, however it is highly unlikely that it will continue to be the case since the head of PBoC, Yi Gang continues to pursue his long-term initiative to liberate the Chinese markets as well as the payment and finance sectors.

China Filed Most Blockchain Patents in 2017

China Filed Most Blockchain Patents in 2017

Data collected by Thomas Reuters from the international patent organization reveals that China has the most patent filed with regard to blockchain technology.

They were submitted to the World Intellectual Property Organization (WIPO) reports claim on March 25. The Chinese government has taken an “official interest” in developing and protecting their blockchain technology.

Report shows that over half of the 406 patterns in 2017 were from China at which 225 of these blockchain patents were filed. The United States followed with 91 and Australia had 13.

Blockchain patent applications had tripled last year according to Thompson Reuters with companies expediting to protect their future blockchain ideas and areas of technological development before the technology actually gets released to market.

Patents are a highly useful and important tool for corporations to attract investors. These patents on technology signal that a business owner can capitalize on intellectual property and not face any competition or interference from other companies claiming ownership.

Huobi, 3rd Largest Crypto Exchange Creates US Cryptocurrency Trading Platform

Huobi, 3rd Largest Crypto Exchange Creates US Cryptocurrency Trading Platform

The world’s third largest cryptocurrency exchange volume, Huobi, just created a new cryptocurrency trading platform in the US as reported by Financial Magnates on June 8.

The new platform is based out of San Francisco and is appropriately called HBUS. The indicated preregistration date will start on June 10 and offering all users who sign up between the 10th and 14th a month of free trading without fees.

The official trading date is set for June 15 however if demand is overwhelming they may postpone the launch to a later date.

Huobi originally revealed its plan to open up a San Francisco office in January 2018. Huobi headquarters are located in Singapore but they have been looking to expand overseas for quite some time. They even announced plans to launch an exchange in London.

The US government currently places stringent demands on cryptocurrency exchanges as regulators have stated that all employees of these exchanges must be educated in Anti-Money-Laundering (AML) and Counter-Terrorism Financing (KYC). They will be required to pass an exam on the subjects before employment.

Huobi also entered a partnership to launch a $93 million China-South Korean investment fund for blockchain startups which will help encourage collaboration between the two countries.

Top 10 Altcoins Most Likely to 100X Their Current Price

Top 10 Altcoins Most Likely to 100X Their Current Price

Hundreds of new cryptocurrencies enter the market every single month. Not all of them will survive the ultra-competitive cryptocurrency niche. Most altcoins will never see the light of day or inherit anything close to resembling mass adoption. From countless amounts of coins that have come out this year, there are only a few altcoins that will see a 100x increase in their valuation.

Before we move forward, always remember to do your own due diligence above anything you read online or hear on YouTube. The list below does not represent financial advice nor are we financial advisors.

As a rule of thumb, projects that solve real-world problems get more attention and have higher chances of success. These are simply the top 10 altcoins we have personally investigated which represent a high chance of 100Xing profit in the years to come and solve real-world problems.

Don’t take our 100X prediction as gospel or fact. As always, DYOR!

With that said, let’s move on…

The crypto marketplace underwent a huge correction after bitcoin’s value shot up to $20k USD back in 2017. By early 2018, many coins regained some of their valuations and the market experienced a small bull run. However, the list below has the best chance of multiplying your returns when the next bull run starts.

NOTE: Not all of these coins will hit the 100x mark. Some of them may go as far as 10x or 20x and stagnate. Some may fail to cross 2x while a few others may even lose their current value. Be aware of the volatile nature within the cryptocurrency market before investing any amount of your hard earned income.

Without further ado, here are our Top 10 Altcoin Candidates who have the potential to 100X their current price within the years to follow.

#10 – ICON (ICX)

iconx-ico cryptocurrencyICON wants to build the world biggest decentralized network. They are doing this by enabling blockchains to interact with each other via smart contracts. The project held their ICO at the end of 2017 and the team released a desktop wallet, ICONex. The wallet supports their native coin ICON, ETH and other ERC20 tokens. There are plans to expand the wallet support to Android and iOS in the near future. 

The project has deployed ERC20 tokens for now. These will be converted to ICX tokens once their Mainnet becomes active. ICON has already put most of their technological pieces in order and is now focusing on the business aspect of their company.

Armed with an excellent real-world application, ICON is bound to improve its valuation in the coming months.

You can purchase ICX at Binance

#9 – Kyber Network (KNC)

kyber-network-ico-cryptoKyber is a fantastic cryptocurrency project that is undervalued in its pricing.

Based on Ethereum protocol, Kyber Network (KNC) facilitates the immediate exchange of digital assets like tokens and coins with the fiat currency like USD or EUR. It is a decentralized exchange with a real-world connection. Kyber is one project that went public with the support from of Vitalik Buterin, the co-founder of Ethereum.

Most cryptocurrency exchanges suffer from a liquidity problem. Centralized exchanges are often prime targets for hack attacks. There are few exchanges that can convert your cash into coins or vice versa but the cost of the conversion is usually very high.

Decentralized Exchanges (DE) also suffer from liquidity problems because a majority of their transactions are of low value.

Kyber’s model ensures Decentralized Exchanges have liquidity at all times. And since the transactions do not happen on the blockchain, the processing is almost instantaneous.

Kyber’s coin KNC is deflationary in nature because, after each transaction, a certain number of coins are taken out of supply. Over time, the supply of coins will reduce and its value will appreciate. Since the network serves a real-world need, its value will go up as their adoption increases.

Compared to other exchanges, Kyber is currently undervalued and its proposition makes it attractive, especially as the number of cryptocurrencies increases over time.

You can purchase KNC on Binance

#8 – Vibe (VIBE)

vibe-coin-cryptocurrencyVibe jumped 400% in value within 24 hours a few months ago and we believe this may happen once again in the future. It is the native currency of a blockchain platform called the Vibehub.  Vibehub started as a music-centric application but now it has become a major virtual reality application. The platform provides virtual space to people enabling them to take part in events around the world. Using the power of Augmented Reality, you can now participate in meetings, live events like sports, concerts and even meet new people, without any geographic restrictions.

The platform is based on the Ethereum blockchain and Vibe coins are used to pay for services rendered. Vibehub allows artists and teachers to use virtual reality to reach people across the globe. It plans to generate revenue from the augmented and virtual reality content. 

Based on its usefulness and real-world application, as well as the roadmap the team has announced, this coin will most likely climb up the charts again and create another record for itself.

You can purchase VIBE on Binance

#7 – VeChain (VEN)

vechain-ico-cryptocurrency-coinVeChain is a blockchain based platform that provides tamper proof information around products to specific merchants. It brings a new level of transparency to supply chain management, business operations, etc. Based on a decentralized architecture, the platform aims to become a one-point reference for all stakeholders in the supply chain system.

The VeChain Foundation started off as a supply chain company that produced RFID tags. They later decided to take advantage of the immutable nature of blockchain platform and combine it with the in-house knowledge of RFIDs to create an Ethereum like Enterprise DApp specifically to secure the supply chains systems.

VeChain’s in-house smart chip helps track the movement of goods throughout the product lifecycle and makes it easy for the management to protect their supply chain against tampering and counterfeit goods.

By building a more trusting blockchain tracking system, VeChain has helped businesses…

  1. Track their products more effectively through simplified product tracking
  2. Their smart chip technology can assist businesses who need current and accurate information on each product which also improves quality control.
  3. Identify logistical redundancies
  4. Protect against counterfeit goods by reverification at each node.

VeChain platform uses two native coins, VeChain Tokens [VET] and THOR power to maintain the platform. The priority of processing will be decided based on the amount of VET a business holds.

VeChain boasts of solid B2B tools and is an excellent cryptocurrency candidate for increasingly steady price movement.

You can purchase VEN at Binance

#6 – QuantStamp (QSP)

quantstamp-cryptocurrency-coinWhile there are hundreds of bitcoin alternatives whose primary function is that of a currency, Ethereum became the first platform that fully leveraged the power of blockchain technology. 

It became the platform to emulate, and a place to develop your own projects using DApps. As a result, there are hundreds of new projects and their native tokens in circulation today.

QuantStamp is the security auditing protocol running on the Etherum platform. Its primary focus is security checks on the Ethereum based smart contracts before projects hit the market.

The attacks on DAO and Parity wallet bugs are the type of incidents that can be avoided by using a service like QuantStamp. With a massive increase in the number of smart contracts being written, this service will be in great demand for the foreseeable future.

Purchase QSP on Binance

#5 – Wabi (WABI)

wabi-coin-cryptocurrency-2Based on the Walimai technology, WaBi is a cryptocurrency that is used as an anti-counterfeit system. 

Walimai technology makes it possible to create a digital representation of each physical item produced by the manufacturer. The consumers can verify the authenticity of these products and purchase them by using Wabi coins. The Wabi blockchain is being used to protect daily consumables like food items, alcohol, pharmaceuticals, etc. Although the scope of this project is limited, the growth potential for this cryptocurrency is enormous as its first target market was China. After succeeding in countering fake goods within the country, WaBi is planning to move to other Asian countries in the future.

Purchase WABI on Binance

#4 – Simple Token (OST)

simple-token-cryptocurrencySimple Token allows any business to create their own digital currency by using Ethereum’s public sidechain solution. Businesses can use the OpenST protocol to create branded tokens without investing in the development of its own blockchain.

The key idea behind the project is to take away all the expensive development issues and provide the advantages of blockchain technology in a more hassle-free manner.

Their OpenST protocol makes it easy for Ethereum’s sidechain solutions to scale.

The relationship between ETH and OST is touted to be just like NXT and ARDR. This coin is expected to skyrocket within the foreseeable future.

Purchase Simple Token on Binance

#3 – DragonChain (DRGN)

dragon-chain-cryptocurrencyDragonChain was originally created by Disney as a private blockchain. In 2016, it was released as an open source software used to secure business databases and execute smart contracts without any technical expertise. This platform makes it easy for businesses to incorporate blockchain into their applications and enjoy the benefits of this innovative technology. Their business model is ‘blockchain-as-a-service’ so that anyone can implement the technology without the technical know-how.

DragonChain can be considered as an incubator for blockchain based projects. Businesses can even run their ICOs on the platform. With a single KYC, US investors can take part in any of the ICOs within the DragonChain network.

The project incentivizes people to hold their DRGN coins in a private wallet and not use them in order to obtain a higher slumber score. A high slumber score gives them early access to exciting ICOs in the DragonChain marketplace. The reduced number of coins in the system is bound exponentially excel the price upward.

This coin is best to treated as a long-term hold since it houses over 200 active projects/businesses that can explode at any moment. With a solid management and development team, don’t be surprised if it quickly becomes the next 100x multiplier. This cryptocurrency probably one of the best long-term hold from our top 10 picks.

Purchase DRGN on Kucoin

#2 – Oyster Pearl (PRL)

oyster-web-storage-cryptocurrencyOyster Pearl is a second generation blockchain working towards empowering conventional applications with blockchain technology. Advertising on the internet has gotten a little out of control. Flashing banners and predatory, malicious, adware ads are making it hard for people to pay attention to the content they chose to read. Some readers switched to ad-blockers, however to counter this, the content providers started to deploy ad-block detectors to ensure they can still show a few ads in order to pay the bills.

Oyster Pearl wants to clean up the intrusive ads and still ensure content creators have a viable revenue model. PRL was built upon the IOTA Tangle, that allows the website visitor’s computer to contribute a small amount of hashing power instead of showing them an ad. This hash power is used to confirm the network transactions and gives the web host/ content creator some income.

As the internet usage and web economy grow, PRL will grow along with them which is why they are a good buy at this time.

You can purchase PRL on Kucoin

#1 – Deep Brain Chain (DBC)

deepbrain-chain-cryptocurrencyAmong all the coins in our list, Deep Brain Chain (DBC) has the highest chance for a massive moon-shot. In fact, if you are reading this article a few months later, it has probably crossed the 100x mark. DBC is a NEO based smart contract token and is traded on the Kucoin exchange. It is also expected to be on Houbi shortly. DBC provides a low cost, decentralized, private AI computing platform. It pools computing resources from people around the world to create a massive platform required to meet the AI’s computational needs.

There has been a big growth in AI related start-ups in the last five years. The value of this market is over 100 Billion USD. Hardware requirements typically eat up 70% of any AI business and this is where DBC comes into play by reducing the cost of these inflated hardware requirements.

The project has funding from NEO and has the first mover advantage within the domain. It is filled with top AI scientists and has an incredible chance and increasing its market coin valuation well over 100X.

You can purchase this coin on Kucoin

Invest Wisely and Always DYOR

Even though we’ve done our research, that still doesn’t mean you get out of  doing yours. We’ll continue to update these coins as they evolve.

Make sure to check them out on our Live Coin Watch located here to view their previous and current valuations, latest twitter notifications, latest developments, announcements, and much more.

 

EOS Blockchain Launch: What Should Happen and What Could Go Wrong

The world’s fifth most valuable cryptocurrency is set to formally release its software this weekend.

First announced in 2017, the EOS project has been fundraising for nearly a year, raising a reported $4 billion in what many are claiming is the largest amount ever collected by a team creating a custom cryptocurrency. As such, the launch, expected for Saturday, has come with no shortage of hype.

The fervor around the unveiling is, in part, due to the diverse discussions long surrounding the project. As detailed by CoinDesk, EOS has long been a target of criticism for its vision and execution, though it has attracted advocates who believe it offers a decentralized alternative to the cloud hosting services that currently dominate the lucrative market for data storage.

With public trading for the cryptocurrency already well underway, all eyes are likely to be on the markets, in addition to technology forums, where token holders are already queuing up with questions related to trading, token registration, airdrops and wallet compatibility.

 

Clarity has been hard to come by, something that hasn’t been helped by a lack of dialogue from those who have been most publicly associated with the project.

Nevertheless, the upcoming launch process is not entirely mysterious.

Most notably, the launch will begin 23 hours after the protocol’s publisher, Block.one, makes the code available as open-source software. The release of the code, however, will be the extent of Block.one’s involvement in the launch.

From there, a community of aspiring block producers — various entities competing to act as validators in the network’s delegated proof-of-stake system (dPOS) — will subsequently pick up the baton as part of an elaborate process that appears unorthodox, even in the evolving world of new blockchain technologies.

Liftoff? Not quite

Upon the software’s release, this group of block producers —  which includes an unknown set of exchanges, crypto mining operations, consultancies and others — will first take a “snapshot” of the EOS tokens (represented on the ethereum blockchain, used for fundraising) to determine the quantity of EOS tokens that must migrate to users EOS wallets.

For users who have bought EOS tokens, this merely means that the block producers will verify that the balance of tokens at their new EOS address is the same as the previous balance of EOS tokens at their ethereum address.

According to Block.one, EOS token holders can ensure that their tokens transfer by registering their ethereum addresses prior to June 2.

Upon the completion of the token verification process, a limited number of block producers will be appointed to test the blockchain prior to making it available to the public.

“What we’re going to do is launch the mainnet together as a group, but we’re going to freeze it so that no [token] transfers can happen yet, ” Dafeng Guo, co-founder of EOS Asia, a developer consortium specialized in the EOS blockchain, told CoinDesk.

He added that the block producers will then “clone the chain” and complete a “bunch of testing on it” to ensure that its smart contract, voting and multi-sig wallet functionalities work. According to a statement circulated by multiple block producer candidates, third parties will also be able to test the network at that time.

Once the block producers conclude their tests, the network will be available to token holders, however they will still be unable to carry out token transfers.

The protocol’s consensus system (delegated proof-of-stake) requires users to first select block producers by voting, which is carried out by ‘staking’ tokens. Users with more tokens have more influence in the election of block producers than those with fewer tokens, and 15 percent of the network’s total tokens must be staked in order for users to kick-off token transferal.

The voting process is one anticipated pain point of the launch. As Crypto Coin Junky had previously reported, there has been widespread confusion within the community as to how to vote and user-friendly interfaces are few and far in between. Programming-literate token holders can vote via a command line interface, but less tech-savvy users will likely have to rely on crowdfunded projects like EOS Portal.

“If we can’t vote, then we can’t activate the chain,” Kevin Rose, co-founder and head of community at block producer candidate EOS New York, told CoinDesk.

According to Guo and Rose, the period of time between the protocol’s launch on mainnet to the conclusion of testing could be hours or days. The voting process is likely to add additional time.

In other words, it is unlikely that the EOS blockchain will launch on mainnet, become public and allow users to undertake transfers all on the same day.

Bugs? It’s anyone’s guess

Another potential roadblock to the full activation of the chain is vulnerability in the code.

Earlier this week, major China-based internet security firm Qihoo 360 informed Block.one that the protocol had a “series of epic vulnerabilities” that made its nodes susceptible to attackers. Developers fixed the bug on the same day, and Block.one CTO Daniel Larimer subsequently announced a ‘bug bounty’ on Twitter, offering $10,000 for major finds.

Guo predicted that other bugs will crop up after the launch, and said he was happy that Qihoo 360 is reviewing the EOS code.

“I anticipate that there might be more vulnerabilities being discovered and patched in the first one or two weeks after the code is frozen,” he said, adding that the severity of the issues, and hence their effect on the network, could vary. “It could be a very easy patch or it could be a harder to fix type of problem,” he explained.

Still, Kyle Samani, managing partner at crypto investment fund and EOS investor Multicoin Capital, downplayed the potential for bugs to disrupt the launch.

“That’s par for the course for any system of this scale,” he said of Qihoo 360’s discovery. “If you look at the history of these systems, like ethereum 1.0 when it was launched, it’s amazing that the thing even worked. It was really held together with duct tape. And if you look at bitcoin in its early days, it’s the same thing. It’s always going to be a little bit rough, but overall things are trending in a very good direction.”

Nonetheless, he added that Multicoin is “keeping an eye on the GitHub issues log.”

For his part, Rose said he was confident that Block.one would adequately address issues with the code before the launch, but “if extra time is needed, that’s ok,” he added.

Evil twins?

While the prevalence of bugs remains to be seen, Rose and Guo said one likely outcome of the mainnet launch is the creation of mainnet “clones” – or forks of the EOS blockchain created to steal users’ tokens.

“This is going to be wrought with scams because this software is open source and the EOS private keys are the same across all networks that launch,” Rose explained of the launch.

“It’s kind of tricky because ordinary token holders, they don’t know which one is the real mainnet,” Guo said. Likewise, he suggested that airdrops – the distribution of free tokens often through forks – could make these clones all the more tempting.

“For them, from just purely a game theory point of view, they probably also don’t care as much. Some people will be like, ‘Oh I have an extra token,'” he continued.

Guo explained that these clones carry additional risk because, unlike bitcoin for example, “there is no standard” for the EOS blockchain, so the first mainnet version is not guaranteed to create a committed following.

While forks can be valuable ways for communities to experiment, Guo said he thinks early EOS forks are unlikely to be well-intentioned.

“Since there is no EOS mainnet yet, anybody who is trying to launch a clone at this moment is just taking advantage of the situation.”

Rose said he advises users to be “extremely vigilant” about inputting their private keys and to rely on unified statements put out by mainnet block producers.

“Do not do so unless you are absolutely certain that you have heard from at least five reputable sources. When I say reputable sources I mean block producers you trust that have published the exact same statement, on the same day, that says to do the same thing at the same time. Don’t do anything until you see that,” he cautioned.

2nd Largest Chinese Bitcoin Mining Hardware Manufacturer Seeks $1 Billion IPO on Hong Kong Stock Exchange

China’s second-largest Bitcoin mining hardware manufacturer, Canaan Creative, is seeking to launch their Initial Public Offering (IPO) within the Hong Kong stock exchange. This reported by the South China morning Post on May 9.

The company is currently seeking to raise $1 billion for its IPO and had considered both Hong Kong and US marketplaces. If successful, this would make Canaan Creative the first blockchain company to be listed on Hong Kong’s city markets.

The company states that the vast majority of their clients come from China which has always remained as a crypto mining powerhouse due to its cheap supply of electricity.

Also worth noting, China has been reported to have the most patent filings for blockchain technology out of any country worldwide. Their blockchain patents account for 50 to 70% of Bitcoin mining worldwide.

Recent strict Chinese regulations have cracked down on the potential power usage of Bitcoin mining. This could significantly impact Canaan and their rivals like Bitmain.

The Bitcoin manufacturing giant, Bitmain, has attempted to circumvent these restrictions by Chinese authorities by extending its operations to other countries. Singapore, Canada, Switzerland are just a few other countries that welcome form Bitcoin mining operations.

Canaan may one day consider expanding its operations to these other countries, as well as the US, if Chinese power usage restrictions ensue.

Bitcoin Goes Physical – Swiss Startup Launches Bitcoin Banknotes

tangem-Bitcoin-Goes-Physical---Swiss-Startup-Launches-bitcoin-banknotes

A startup company by the name of Tangem, operating out of Switzerland and Singapore, launched a pilot sell of physical Bitcoin banknotes according to the press release on May 3.

Tangem describes these physical Bitcoins as “smart banknotes”. They include chips developed by Samsung which would allow the consumers to physically carry Bitcoin stored in denominations of around 0.01 BTC (around $100) to 0.05 BTC (around $500). The first batch will be shipped from Singapore to potential partners and distributors around the world.

The idea behind the physical Bitcoin banknotes was stated to increase the ease of use of spending cryptocurrency while improving simplicity, security, owning, and circulating of cryptocurrency.

Singapore has recently developed a reputation as being a hub for both blockchain development and cryptocurrency in Asia. Singapore and China recently completed a shipment of gasoline utilizing blockchain technology throughout the entire shipping process in early April.

Singapore central bank also re-confirmed its commitment to utilize blockchain for its international payments.

Low Fee Cryptocurrency Exchanges That Don’t Drain Your Wallet

Low Fee Cryptocurrency Exchanges That Doesn’t Drain Your Wallet

I think if there’s one thing that we can all agree on it’s that fees suck!

Now that I got that out of my system, when it comes to the world of cryptocurrency exchanges, fees really aren’t all that bad.  When you compare them to your typical bank fees, smart phone fees, cable fees, and the list goes on. It’s simply the cost of doing business and an inherently low cost at that.

spending crypto on stupid stuffEven though exchange fees are nominal, you’d rather save as much as possible, right? That way you can spend it on more important items like an automated drone selfie camera or glow-in-the-dark underwear. You know….stuff that really matters. 😉

Before we dive into these “low fee” exchanges, let’s take into consideration what type of trader you are. You can generally categorize yourself into three types: the investor, swing trader, or day trader.

If you fall into the first 2 categories you really have no reason to sweat exchange fees. The difference between 0.10% and 0.25% is almost microscopic when trading once a month or twice a week. You’re really not producing enough trades for these fees to really make a difference.

Now if you’re a masochist like myself, and have chosen the world of day trading, then these fees will quickly add up. They actually matter when it comes down to your bottom line.

With that said, let’s have a closer look at some of these low fee exchanges…

Binance

binance-exchange-and-chillBinance is the largest cryptocurrency exchange by trading volume. It didn’t however get there by some stroke of luck. The combination of their referral program, intuitive interface, amazing community, and you guessed it… low trading fees, put them at the top of the heap. At 0.10% on both buy and sell orders, it just doesn’t get any cheaper than this (well other than free I suppose).

Considering their popularity, vast array of altcoins to trade, their top-notch security protocol, as well as customer support, this is my number one place to trade for low fee crypto trading.

If you want a more detailed review on Binance, I highly recommend you check out our article located here.

GDAX

gdax-cryptocurrency-exchangeThe Coinbase owned exchanged is one of the most popular cryptocurrency exchanges in the world as of December 2017. You can place order that will immediately get filled for as low as 0.10% (you would be considered a taker). Limit orders are free (you’re considered a maker).

That’s right, I said it, FREE! However, this all depends on if you’re a maker or taker within the order books. If you’re not familiar with maker and taker fees, let me explain. If so, then just skip past this highlighted section.

In essence, a maker fee is when a trader places a bid on a coin and waits to get it fulfilled by another trader within the exchanges order book. A taker fee is where a trader immediately accepts the highest bid (either buy or sell order) within an exchanges order book.

If you’re still confused, I highly recommend you check out our article here for a more explanation.

With GDAX’s low to free fee structure, there is one caveat to trading within the exchange. You’ll only be able to trade Bitcoin, Bitcoin Cash, Ethereum, and Litecoin.

This may be a deal-breaker to some, while others that are new to the trading scene may only care to get started with the select few pairs. Either way, the fees are some of the lowest in the industry so this may be a great place to get your feet wet when starting out cryptocurrency trading.

HitBTC

hitbtc-cryptocurrency-exchange-register-and-signupWhile HitBTC is not one the most popular exchanges, it is one of the cheapest. HitBTC has also been around for a very long time (since 2013 to be exact) thus has a long-standing track record.

Like Binance, HitBTC only charges 0.10% on both buy and sell orders. I wouldn’t necessarily recommend this exchange when transferring your countries fiat over to crypto, however they are a great cryptocurrency trading exchange for those looking for a beginner friendly solution.

For a more detailed review on this exchange, please check out our review here. We give you all the details on what makes this exchange stand out from the crowd.

Moving on…

CEX.io

cex-io-cryptocurrency-exchangeThis UK based exchange charges a little more than the two mentioned above, however is still relatively cheap when compared to the average fee of most exchanges in the market today.

CEX.io charges a 0.20% fee across-the-board (both maker and taker fees). This is still 0.05% under the standard trading fee for most exchanges which is 0.25%.

This trading platform has also been around or quite some time. They were established back in 2013 as one of the first cloud mining providers. Since then, they’ve become a multifunctional cryptocurrency exchange with millions of users worldwide.

Bitfinex

bitfinex-cryptocurrency-exchangeBitfinex is also fairly cheap when compared to the standard the structure of most cryptocurrency exchanges. They offer 0.10% maker fees and 0.20% taker fees.

If you’re not familiar with maker and taker fees, let me explain…

In essence, a maker fee is when a trader places a bid on a coin and waits to get it fulfilled by another trader within the exchanges order book. A taker fee is where a trader immediately accepts the highest bid (either buy or sell order) within an exchanges order book.

If you’re still confused, I highly recommend you check out our article here for a more explanation.

 

For International Traders

international traders crypto cryptocurrency exchangesAny of the exchanges mentioned above will work for international traders  (meaning you don’t live in the US), however if you’re looking for a more local exchange to support, you may find the exchanges below more accommodating.

AustrailiaCoinJar and Coinspot are two exchanges that are located “down under”.

EuropeCEX.io mentioned above is great, however if you’re looking for another alternative Bitpanda has received a lot of great reviews as well.

China/JapanHuobi is the fourth largest exchange in the world by trading volume. This is the most widely accepted exchange among easterners.

Now Choose One and Start Trading!

 

 

There you have it folks! The top traded and lowest fee crypto exchanges to date. I’ll continue to keep this article updated as newer “low fee” exchanges come out.

Feel free to chime in to the comments below and let us know what other cheap exchanges you’ve used, so we can add them to the list.

Now get out there and start trading. Make sure to buy me something nice with all that “fee money” I saved you.

 

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