Cryptocurrency based Company Change Launches Bitcoin App With No Trading Fees

Change, a Singaporean-founded company based in Estonia has launched a mobile application for buying and converting between different virtual assets with zero commission fees.

As cryptocurrencies become mainstream, consumers look for options to add the novelty asset class to their portfolios. Unfortunately, this is often an expensive endeavour, as most cryptocurrency brokers and exchanges charge buying fees that can go up to 5%.

The app currently supports Bitcoin, Ether, Ripple, Litecoin, and Tether, and is available for iOS and Android, to residents of the European Economic Area, under the name of “Change Wallet”.

According to a survey by ING launched in June, two in three individuals in Europe have heard of cryptocurrencies. Although only 9% of Europeans own cryptocurrencies, 25% plan on owning some in the future.

On a live interview with  BBC World News, Change’s CEO Kristjan Kangro has said cryptocurrencies will soon be used just as much as traditional currencies by the masses when paying for good and services.

“I’m backing this project because I think it’s got an extremely great future, and I see that Change is going to have challenges going forward. I have no doubt that this business is going to thrive and grow globally over the coming years.” – Roger Crook, former CEO of DHL Global Forwarding.

Change has several new product releases slated for roll out in 2018, including a subscription plan for advanced users.

Change is a mobile first cryptocurrency finance platform in Europe. Following one of Asia’s largest ever crowdfunded raises, Change now allows customers to buy and convert cryptocurrencies such as Bitcoin, Ether, and Ripple with zero fees.


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Author: Marin Marinov
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Japanese Messaging App Line Opens Crypto Exchange in Singapore

The Bitbox virtual platform is live and offers nearly 30 digital coins in crypto-only trading pairs with Bitcoin (BTC), Ethereum (ETH) and Tether (USDT).



Line, one of the most popular messengers in Asia, has launched a cryptocurrency exchange in Singapore, dubbed Bitbox. The trading platform has been live since early morning UTC on Monday and offers only crypto trading.

Bitbox supports 28 cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH) Tether (USDT), Ripple (XRP), Litecoin (LTC), Ethereum Classic (ETC), Bitcoin Cash (BCH), Bitcoin Gold (BTG), MonaCoin (MONA), Qtum (QTUM) and Golem (GNT). The coins are grouped in 54 pairs with BTC, ETH, and USDT.

“BITBOX is only for trading cryptocurrencies (Digital Tokens). Fiat currencies (USD, KRW, etc.) cannot be exchanged on BITBOX,” the company explains on its website.

The exchange has a fee of 0.1% for market makers and takers, and offers services in 15 languages including English, Korean, Chinese, Spanish, French and German.

Bitbox is not available in several countries, including the United States, Japan, Russia, Belarus and several African countries.

At the beginning of the year, Line Group applied for a license with Japan Financial Service Agency (FSA), but the process was delayed because of FSA’s higher scrutiny after the USD 530 million hack of Coincheck. The license is obligatory for offering trading services in Japan.

Currently, Line is applying for a US cryptocurrency exchange license. The firm decided to open its first digital trading platform in Singapore because the city-state, which did not follow China’s ban on digital coin trading in 2017, has become a popular destination for crypto companies.

 “With cryptocurrency, we are going to take our challenge in financial services global,” Takeshi Idezawa, the chief executive of Line, told journalists at a conference in late June when revealed company crypto plans.

In May, Line Group denied social media rumors that it would issue own token through an Initial Coin Offering (ICO).

Line has around 200 million monthly users. It is very popular in Japan and several other Asian countries including South Korea and Thailand.

Line joins a set of several big social networks with crypto plans including Telegram, which is developing a blockchain-based network for payments, and Facebook, which set up a blockchain working group.


Here at Dollar Destruction, we endeavour to bring to you the latest, most important news from around the globe. We scan the web looking for the most valuable content and dish it right up for you! The content of this article was provided by the source referenced. Dollar Destruction does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products or other materials on this page. As always, we encourage you to perform your own research!

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Author: Marin Marinov
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Swiss Banks to Welcome Cryptocurrency and break Singapore’s crypto dominance

Switzerland businesses are urging their government to allow banks in the country to add cryptocurrency transaction system, says the Financial Times.



In an exclusive interview to the economic publication, Crypto Valley’s Heinz Tannler says,

“We hope to clarify relationships by the end of the year at the latest. Time is pressing – other jurisdictions such as Malta and Singapore are very active and making a lot of effort to attract these companies. The lack of access to bank services is a significant competitive disadvantage.”

The environment in Switzerland is primed for virtual currency transactions, and it is only the government and regulatory restrictions which are preventing the booming of cryptocurrency businesses in the country.

Waiting for “Competitive Advantage”

The alpine country is already an established destination for traditional banking, with a large number of global and local institutions having set up their operations here. There already exists a mature banking ecosystem, infrastructure and necessary talent pool for optimized banking services in the region.

Besides, their reputation precedes them as an exclusive banking system, which fiercely protects the identity of their account owners. Hence, cryptocurrency‘s philosophy is already a part of the banking culture in Switzerland. Thus, all that the country’s administrators will have to do is to allow banks to accept the digital currency processes.

Thus far, however, the country has resisted such a move, despite 2017 being the year where Switzerland saw the second largest volume of ICO funds in the world.

Money Laundering Fears

If Swiss banks begin to accept crypto’s, then they will be on par with the pro-crypto environment in places like Singapore and Malta. These nations have built the ecosystem for such transactions and are attracting businesses in large volumes.

The laws here are custom-made for the easy use and adaptation of cryptocurrencies in their economies. On the other hand, the current banking laws in Switzerland are limiting such adaption as they follow traditional transaction system and thus fail to match the expectations of crypto industry.

However, the biggest road-block for Switzerland to permit use of cryptocurrencies is the fear of money laundering. Tannler says,

“I can understand that banks are careful with respect to ‘know your client‘ and anti-money laundering. But experts reckon the danger of money laundering is lower than in other sectors of the finance industry.”

Things are beginning to change at this level as well, says Tannler, “We have to push certain national institutions to resolve this problem quickly and effectively, but that now seems to be going well,” Tannler shared in the interview.

The first of these changes towards mainstream cryptocurrency use was evident on June 19, 2018. The FINMA has for the first time allowed a company, Crypto Fund AG, the “license to distribute investment funds.” The last previous such helpful laws for cryptocurrency use in the country was in early 2018, when FINMA set up ‘regulatory guidelines’ for ICOs.

Zug, is the capital of cryptocurrency movement in the country and has adopted various technologies to take this forward. It has even explored of the blockchain technology in its voting systems.

By introducing changes, Switzerland has the opportunity to increase its presence in the crypto industry and improve access in the banking services for businesses which are based on cryptocurrency and blockchain.


Here at Dollar Destruction, we endeavour to bring to you the latest, most important news from around the globe. We scan the web looking for the most valuable content and dish it right up for you! The content of this article was provided by the source referenced. Dollar Destruction does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products or other materials on this page. As always, we encourage you to perform your own research!

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Author: Pushpa Naresh
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