• Bitcoin

    Cellebrite launches crypto tracer solution to track illicit transactions

    In recent times, the number of illicit transactions involving cryptocurrencies has increased by a huge margin. The authorities are finding it hard to track such transactions as there are millions of transactions every day. In this regard, Cellebrite, which is working as a digital intelligence firm, has launched the Cellebrite Crypto Tracer solution. It is not only about the tracking of illicit transactions that take place using virtual currencies but also to curb the nexus of various users who are involved in this racket of transfer of various illegal items. Hence it can be useful to the economy worldwide.

    This is aimed to trace illicit cryptocurrency transactions, and it will be available for investigators and analysts. They can obtain evidence against such transactions in an authorized manner and trace criminals. This will have wide applications in the law enforcement field as they need such services to track money laundering activities supporting terrorism, sale of drugs, weapons, and human trafficking crimes.

    Many criminals use cryptocurrencies for such transactions, as it is difficult to trace such transactions. They buy such cryptocurrencies through the darknet and use them for illegal activities. In recent years, the number of ransomware schemes involving cryptocurrencies is on the rise, and authorities are not able to do much to contain such criminals.

    Tracing millions of data points

    The Cellebrite Crypto Tracer solution works effectively by tracing millions of open source references, and it can curate millions of data points from such transactions. It can easily provide the account type and details of account holders along with contract types used for such transactions. In this way, law enforcement agencies will have an easy to access tool to track such transactions in quick time.

    Recent trends with illicit crypto transactions

    In recent years, the number of criminals using such crypto transactions is on the rise. As many users are now comfortable using digital currencies for various transactions, it has become easy for criminals to target vulnerable people. Getting the required regulation for using cryptocurrencies in every country is not an easy task. This is where criminals find some advantage as they can conduct transactions from different locations.

    The recent twitter hack incident severely dented the image for the blockchain markets as criminals are now openly using such platforms to conduct scams. In this situation, crypto tracer solutions will have good demand as it can end such illicit transactions by tracing the scammers.

  • Bitcoin

    Bitcoin executive sees more Cryptocurrencies going public in 2020

    Gradually the demand and use of Cryptocurrencies are sliding upward. Adding to the same, the more of such currencies are coming in the market in the next few months. In recent news, this information has been confirmed by the market sources. As the demand for cryptocurrencies continues to grow across the world, several companies are planning to go public in 2020. This is a drastic move as it will build confidence about the legality of the currency among the general public. As the regulations with regards to listing an IPO in the regular market are very high, companies that manage to get listed will gain the trust of users in the near future.

    Coinbase rumored to be exploring IPO

    One of the big names in the US cryptocurrency market, Coinbase, is all set to launch an IPO shortly. Market rumors mention that it may come towards the end of this year. This is not a big surprise for many market enthusiasts, as many such digital currency companies are planning an IPO this year. As the overall economic situation is not very conducive, more and more people are getting attracted to decentralized currencies, and this is the right time to enter into public markets with an IPO.

    Robinhood and Stripe planning for an IPO

    Robinhood, which is very popular among trading enthusiasts, is also planning to enter the market with an IPO. Even though they are not directly involved in crypto markets, such tech startups, which are in the disruptive business, can have a huge impact on the cryptocurrency market in the future.

    In the recent past, we had seen official announcements from Ripple about entering into the IPO space. The executives had mentioned that this is a natural evolution, and more and more cryptocurrency companies will go public in 2020. Most digital currency companies relied on initial coin offerings, also known as ICO, that are similar to the IPO of stock markets. However, this did not have credibility as the regulatory process was not stringent, and many fraudulent activities were reported in the recent past.

    In this regard, cryptocurrency giants are planning to enter the IPO space and prove their worth directly. Most currencies that were listed on Coinbase started booming, and this trend may continue in the near future if Coinbase itself manages to get listed on the public platform. Hence for those who want to trade in the same can have better opportunities.

  • Bitcoin

    How do Bitcoin Futures Work?

    You probably don’t need any introduction to Bitcoin. Bitcoin is a form of digital currency that has become successful and widely used in recent years.

    Bitcoin as a cryptocurrency is not tangible and as such is not financed by any government or bank institution. There are no individual bitcoins valuable as an asset as balances are kept on a public ledger that everyone has access to.

    Digital assets can be volatile at times. This causes many traders to try and manage the risk involved by simply buying an asset when the price is low and resell when the price goes up.

    Wouldn’t it be nice if there was a mechanism that allowed you to gain directly from betting on that Bitcoin’s price – would it rise or go down? There is no need to look further as Bitcoin Futures allows you to speculate bitcoin’s price at a specified time without actually owning a bitcoin.

    What are Bitcoin Futures?

    Bitcoin Futures is an agreement or arrangement to purchase or sell an asset in the future, for a fixed amount. You can conveniently use this as a way to secure profits in volatile markets or sidestep other regular investments.

    Once you enter the Futures contract, both parties are to ensure that they comply by buying and selling at the specified time regardless of what the market price is at the contract execution date. It is currently possible to trade Bitcoin Futures.

    Bitcoin Futures are arranged and traded on a global futures exchange. These exchanges act as intermediaries.

     How do Bitcoin Futures Work

    Bitcoin Futures will allow you, as the speculator, to go long or go short on a futures contract. You will be required to deposit funds into the futures exchange of your choice and buy bitcoin futures. You will be able to realize any profits or losses once the futures contract is sold.

    Bitcoin Futures allows you to monitor your losses or gains as they happen. It will show you approximately how much you stand to lose or gain should you sell your contract at the current time.

    The below factors will determine the fluctuation of your profits and losses;

    • What’s the contract size: This is simply how large your contract is and how much you have in the market. Contracts can be valued in BTC, other cryptocurrencies, dollars, or sometimes fiat currencies.
    • Going long or short: Under the short contract, your balance will hike as Bitcoin prices fall and fall when the bitcoin price goes up. Long contracts will have your balances hiking when bitcoin prices go up and fall when the bitcoin price drops as well.
    • What’s the leverage: Practically, this amplifies how much your balances will rise or fall during market fluctuations. The highest leverage an exchange will offer is typically 100x. You are allowed to have different leverages on different accounts.
    • Date of Expiry: You are at liberty to settle the contract at any given time. The bitcoin futures will only close when there is an expiry date on the contract.

    How do Bitcoin Futures affect Bitcoin Price?

    Bitcoin Futures will automatically open up the bitcoin market in the world. This will, in turn, create a real demand for actual bitcoin, since payments will have to be paid in the actual underlying asset once the contract comes to an end.

    Bitcoin futures are generally devised to balance out price movements in any underlying asset and could make the bitcoin price less volatile. Many institutions are now bound to offer their investors the Bitcoin futures as an investment option.

    Having public regulated exchanges has created trust and confidence among the skeptical people, and now more than ever, the number of investors is expected to increase.

    Bitcoin Futures will ease the buying, selling, and trading the cryptocurrency by bringing more liquidity in the market.

    How do they affect the Blockchain Industry?

    Bitcoin Futures will make bitcoin more lucrative. This means that people will become more aware of the cryptocurrency world if bitcoin prices increase quickly.

    Once Bitcoin Futures is a worldwide phenomenon such that even people from countries where bitcoin has been banned, will want to invest, and altcoins’ uptake will increase, pushing the prices higher.

    Bitcoin futures will end up making other stronger altcoins mimic bitcoin by introducing futures trading.

    Where can you trade Bitcoin Futures? 

    Bitcoin is the future in the cryptocurrency world. It is the best option when it comes to risk management and can be traded purely for profit as long as the trade is closed before the expiration date.

    You can trade Bitcoin Futures in a Future exchange platform. You will need to open an account with a registered broker if you are to trade the futures contract. Futures exchanges offer you a clearing service platform.

    There are two markets where you can trade bitcoin futures to realize your profits – trading on selected cryptocurrency exchanges, such as BitMex, where bitcoin trading is unregulated, or trading on the publicly regulated exchanges like the CME.





  • Bitcoin

    Complex Compliances: Checklist for Crypto ATM Operators

    Besides being a lucrative business opportunity, Bitcoin ATM is difficult to maintain for ATM holders. Since the beginning of the first Bitcoin ATM installation in the U.S. and Canada in 2014, the demand for such ATMs has grown.

    Out of the two types of Bitcoin ATMs, one is used to only buy Bitcoins. While another one is complex and it is used for both buying and selling of the digital currency. Customers prefer Bitcoin ATM over Bitcoin exchange in the majority of the cases.

    But how can an ATM operator set up his own Bitcoin ATM in the area of his choice? The first and foremost requirement to set up a Bitcoin ATM is compliance. Every area has different laws for such ATM installations and an ATM operator has to follow these compliances properly.

    Most comprehensive laws include Anti-Money Laundering regulations, Know Your Customer, state and federal laws. However, these regulations and laws vary from state to state. It is easier to set up Bitcoin ATM in some states and difficult in others. Some states require money transmitter license while others not.

    Rules And Regulations To Be Followed By ATM Operators

    Bank Secretary Act

    The Bitcoin ATM operators should follow the federal regulation guidelines explained in the Bank Security Act (BSA) to stay compliant under federal laws.

    MSB Registration With FinCEN

    Since Bitcoin ATM is considered as a Money Services Business, it must be registered under the Financial Crimes Enforcement Network (FinCEN). The registration process with FinCEN is a simple and online process. This registration confirms that every transaction at the ATM is secure and can be reported under suspicious activities. The state regulation includes registration under the state-level license.

    Creating An AML Program

    After registering under the FinCEN, operators must create an AML program. This program includes the creation and implementation of anti-money laundering compliance. Developing an AML program can be presented by the operator through a written document that explains how money laundering will be prevented in that ATM. AML program must include the following parts:

    1. A designated compliance officer.
    2. AML training of personnel.
    3. Customer Due Diligence.
    4. BSA compliant internal procedures and policies.
    5. Third-party review and audit of the AML program.

    Test AML Program, Transaction And Customer Controls Before The ATM Goes Live

    The most crucial step after conducting the legal processes is testing the ATM before going live. You should check whether the AML program is being followed completely. A few sample transactions can pinpoint if there’s a loophole in the customer details and transaction information. Overall, the ATM operator should ensure Bitcoin ATM should not invite any money laundering at present as well as in future.


  • Bitcoin

    World Will Not Adopt a Bitcoin or Gold Standard, Says Peter Brandt

    While almost the majority of financial gurus are heralding the arrival of bitcoin as the future king of the financial jungle, a reputed predictor of the market pattern disagrees vehemently. He believes that the global market may experience some new changes in the gold ratings but is adamant in his views that bitcoins or any other forms of crypto-currency, in general, will not ever be allowed to board the train to the land of global financial gains. The man seems unshakable in his opinions despite many other financial industry veterans that feel otherwise.

    Why So Sure?

    This acclaimed financial guru measures his words wisely. Thus his surety about this aggressive statement against crypto-currency is not to be taken lightly. The expert seems sure that the world will be nowhere near to return to a gold standard by the next thirty years. His belief seems to reside with the financial concept of unique drawing rights that are frequently abbreviated as SDRs. The reason for his opinion draws cognizance from the fact major fiat currencies are still a vital part of the virtual financial ecosystem. Thus it is wise to heed this trading guru’s warning before putting all hopes in bitcoins.

    Disdain for the proud crypto-supporters

    The expert in question has viciously attacked and expressed his great disdain against all the hubristic believers of the crypto-currency takeover without holding anything back.  He is clear in predicting his version of the market’s future, which will be heralded by SDR units, but the exclusion of bitcoins is imminent. The expert has given ample proof for his statement and has analyzed the market in a detailed and effective fashion to pit forward this controversial yet well-explained view. The dire times that the world has plunged into courtesy of the coronavirus pandemic is not helping the crypto-currency situation either.

    Many hard-core believers of the power and genuine efficacy of the crypto-currency exchange market refuse to take his statement into account when it comes to their investments. Those who hold more moderate views seem to understand the logic behind his argument and have taken his advice to heart. But in the end, the fact remains that the trading market is not something that is known for its predictability. The winds may shift, the grounds may suddenly shake, and the values will wobble around like a desk-top toy. And with current increasing trends of crypto-currency, investors are still hopeful.