On Tuesday (April 16), Bitcoin.com announced that its official cryptocurrency wallet, which supports both BCH and BTC, has been updated such that it now allows its Europe-based users to purchase BCH directly from within the wallet.
With this update, the “Bitcoin.com Wallet” app, which was originally released in June 2017, is able to buy, store, send, and receive BCH and BTC. The app is available for all major computing platforms: iOS, Android, MacOS, Windows, and Linux.
Thanks to a partnership with UK-based MoonPay, Bitcoin.com Wallet users in Europe (including the UK) are now able to buy cryptocurrency via debit and credit cards (both Visa and Mastercard are supported). You can purchase up to 150 euros’ worth of BCH “without the need for formally validating your identity,” but for larger amounts (“up to €5,000 daily” and “up to €20,000 monthly”), you will need to go through the Know Your Customer (KYC) process.
Bitcoin Cash advocate Roger Ver, who is also the CEO of Bitcoin.com, had this to say about the new feature:“We strive to bring economic freedom to everyone, everywhere, and we want to make it easy for everyone to buy bitcoin cash. With our latest wallet feature, it’s never been simpler.”
Here is how Bitcoin.com explained the advantage of buying BCH in this way as opposed to via a centralized cryptocurrency exchange (such as Coinbase):”Because the Bitcoin.com Wallet is noncustodial, it provides a more secure solution for acquiring crypto because there’s no need to deposit funds on a centralized exchange. After a purchase is made within the wallet interface the BCH is sent directly from the official seller to the owner’s noncustodial light client. This is in stark contrast to leaving funds on an exchange for a period of time to make a trade. Cryptocurrency exchanges are custodial, which means the exchange has full control of the user’s funds at all times.”
The Bitcoin.com CEO added:
Although initially this new feature is only available to users in Europe, “there are plans to roll the service out to more countries soon.”
On March 19, (with the release of version 5.6) the Bitcoin.com Wallet added a feature that introduced the ability to switch between the BTC and BCH (with just a few clicks) from within the app. This feature came about as a result of a partnership with SideShift AI, which is a competitor to ShapeShift.
According to CryptoCompare, at press time (05:55 UTC on April 17) BCH-USD is trading at $312.81, down 0.27% in the past 24-hour period:
However, what is much more interesting to note is that Bitcoin Cash has gone up 95.8% (ie. almost doubled in value) in the past one-month period:
All Images Courtesy of Bitcoin.com
More Bitcoin ATMs are being introduced by LibertyX as interest grows
- The company behind first launching Bitcoin ATMs in the United States, LibertyX to introduce more.
- LibertyX have announced they will add another 90 ATMs to its network.
LibertyX, the firm that launched the first Bitcoin (BTC) automated teller machine (ATM), in the United States, will be adding 90 new machines to its network.
The Boston-based firm will be partnering with independent ATM operator DesertATM, as part of the network expansion, as detailed within a report by global ATM market publication ATMmarketplace on July 18.
DesertATM will be uploading LibertyX on 90 of its Genmega ATMs to facilitate Bitcoin operations. In terms of the new Bitcoin ATM locations, these will be placed at; gas stations such as AMPM, ARCO & Chevron, as well as Family Dollar retail stores, as per the press release notes.
Bitcoin not yet banned in India, regulations around the corner
- The Minister of State to the Ministry of Finance told the upper house of the Indian Parliament, cryptos are not banned yet.
- The Minister, Anurag Singh Thakur, also stressed the need of creating a solution that caters to global regulators.
As per Anurag Singh Thakur, the Minister of State to the Ministry of Finance, holding or trading cryptocurrencies is not banned in India. During an address to the upper house of the Indian Parliament, Thakur stated that the Reserve Bank of India and the Ministry of Finance have issued notices regarding the use of Bitcoin and other similar coins:
“Presently, there is no separate law for dealing with issues relating to cryptocurrencies. Hence, all concerned Departments and law enforcement agencies, such as RBI, Enforcement Directorate and Income Tax authorities, etc. take action as per the relevant existing laws.”
The Minister’s response followed a recent report regarding an alleged crypto blanket ban draft which stated that the government would sentence crypto traders with a ten-year imprisonment.
In a separate letter addressed to the Ministry of Corporate Affairs, Thakur stated that an interministerial committee needs to create a solution that caters to global regulators:
“It is difficult to state a specific timeline to come up with clear recommendations. The Inter-Ministerial Committee (IMC) under the Chairmanship of Secretary, Department of Economic Affairs is examining all issues, including the pros and cons of the introduction of an official digital currency in India. No decision on licensing and authorizing any entity or company to operate such schemes or deal with Bitcoins or any virtual currency has been made as yet.”
Bitcoin price prediction: BTC/USD faces two healthy resistance levels on path back to $11,000
- BTC/USD is currently trading around $10,545.
- The two resistance levels are at $10,575 and $10,700.
BTC/USD had a bearish Friday where the price fell from $10,660 to $10,540. Bitcoin managed to have a bullish start to this Saturday and is currently trading for $10,545. The daily confluence detector shows two moderate-strong resistance levels at $10,575 and $10,700. On the downside, there are two support levels of note at $10,500 and $10,375.
BTC/USD daily confluence detector
The $10,575 resistance level has the 1-week Fibonacci 61.8% retracement level, while the $10,700 has the most substantial resistance level but no confluences has been detected. On the downside, the $10,500 support level has the 100-day simple moving average (SMA 100) and the 1-hour previous low. The $10,375 level possesses the 1-day Fibonacci 38.2% retracement level.