Shape Shift acquires Crypto tool Bitfract

Shape Shift acquires Crypto tool Bitfract....

Global digital assets trading comoanc ShapeShift has aquiacqu Texas-based startup Bitfract, in a bid to offer its users the tools to swap Bitcoin's into Dozens of digital assets in a single transaction.

Bitcraft has developed a tool that makes it easier for Cryptocurrency users to trade a bitcoBifor multiple altcoins, thus giving them exposure to diversified digital asset portfolios. Using an API, the took let's a user switch the portfolio without entering into various transactions.

Erik Voorhees, CEO of ShapeShift says:
This demonstrated a great alignment of strategy and thinking, and their execution was so exceptional that we wanted to bring teuth talented team and technology on Board.

ShapeShift has put forth their intention of continuous ooeropera using Bitfract's tool in its current form as a demonstration of the power of ShapeShift open API. This facilitated the integration of the mechanism with its own platform thereby creating native multiple output transactions.

The co-founder and CEO of Bitfract, Willy Odorzaly, Says:
We believe in a decentralised future where individuals freely control their digital wealth, and our team is honoured to work alongside Erik and everyone at ShapeShift to make this reality.

This move was introduced after ShapeShift announced the acquisition of a startup Bitcoin hardware wallet-KeepKey-a few months ago. In march 2017, raised $10.4 million during Series A funding round.




Thanks regards,
Vinay Kumar.

Venezuela: Bitcoin price continues to Skyrocket as Country crumbles..

Bitcoin Mining

The price of Bitcoin is continuing to skyrocket in Venezuela due to the country's crumbling economy and infrastructure.

To say that there's a humanitarian crises going on in venVenezu is a massive understatement. The social policies of Nicolas Maduro, carrying on the groundwork laid out by Hugo Chavez, has left the country's economy is shambles. Many people turned to Bitcoin mining in order to generate funds to buy the most basic of essentials: food, medical supplies, and so on. The country's collapsing economy is easily seen by the fact that Bitcoin price continues to surge as the Bolivar spirals ever downwards.

Venezuela in Shambles:

The social regime of Nicolas Maduro has left the country in ruins. Political dissent is stiflied, freedom of the press is near non-existant, and basic food items cannot be found. People are literally starving, as is evident from desperate people attacking and eating animals found in Zoos.

It's sad to say, but there is a chart to quantify the ongoing economic misery. Bloomberg created the Bloomberg cafe Con Leche Index that charts the price of a cup of Coffee. One year ago, a cup cost 2,300 bolivers. Today, that same cup of coffee costsan eye watering 2 million bolivars. That's an inflation rate of 86,857%.!

Bitcoin offering some hope:

As per Bolivar is essential worthless, many people turned to Bitcoin as a store of value. A lot of people began mining for Bitcoin in order to keep their families alive. Naturally, the govt of Venezuela began Cracking down. On such mining. There were even reports that police and govt officials would confiscate Bitcoin mining equipment and use it for their own gain.

The ongoing economic misery shows how much the populace has turned away from fiat to Cryptocurrencies. The sand for Bitcoin is staggering. The week of January 13th, 2018, saw a total trading volume of 244 Bitcoin's. This amount increased to 363 BtcoBitcofornth week of march 3rd,529 Bitcoin's for the week of June 2nd, and 621 Bitcoin's for the week of auAugu4th.

The notable feature is the cost of buying Bitcoin's with bolivers. A BTC cost just over 486million Bolivars on April 18th. That cost shot up to 587 million bolivers on July 18th, 845 million bolivars on July 26tgh, and 981 million bolivars on August 6tg, one year ago, 1 BTC could be bought for 34,000 bolivars. The most current price is 894 million bolivars.

With such stageerist price increase and trading volume, you can see firsthand how desperate the people of Venezuela are. Almost 90% of the country's population lives in poverty, and almost three-fouths of the populace lost 20npounds of weight inn2017 duento a lack of access to fodd. It's frightening to think that being lucky enough to buy some Bitcoin's a year ago and then holding them untill today could mean the difference between living and gying in the ravaged south American nation.

Thanks Regards,

Vinay Kumar.

How to pay taxes on your cryptocurrency investment in India.

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How to pay taxes on your cryptocurrency investment in India.


With cryptocurrency prices soaring over the last few years, many Indians have ranked in instant wealth. But paying taxes on this income has turned into nightmare.

This is so because under India tax laws,the nature of virtual currency investments is unclear. What is certain is there's no escaping taxes.

In December 2017, the income tax (IT) department surveyed several cryptocurrency exchanges in the country to understand their modus operandi and user base. Since the , notices have repottedlr been served to about 500,000 investors for non-payment of taxes. Inthehaa past few months, the bourses, too, have appeared on the Reserve Bank of India and the govt radar.

The RBI has forbidden banks from dealing with these exchanges and Investors in any fashion, while a lan el formed by NaremdrN Modi government is working on draft regulations for digital currencies. In such volitile times, the exchanges themselves have been urging customers to not skip paying taxes.

As the revised deadline for finding I-T returns approaches, here's a look at what investors could do.

Individual investors:-

The tax treatment of cryptocurrency continues to be in the grey Zone, it is open to interpretation, warm chartered accountants {CAs}.

In case of gains, you have to state profits or capital gains maybe by you from transaction in Cryptocurrencies year -  wise with statements showing the workings.

The premise of capital gains is that an investment will be held for a certain period of time so that its value appreciates. These taxes are divided into short-term and long-term.

In case of shot-short gain, the amount is added to the income and taxes according to the tax slab that an individual falls under, for instance, anyone who earns over Rs:-10 lakh ($14,614) will be taxed at 30percent..

It falls under the long-term category, it will be taxed at 20 percent. The tax rate can go down is applied, which allows one to adjust for inflation during the period these investments were held. Every year, the Central Board of Direct Taxes releases the cost inflation on which these assessments are done.

For Traders:

For Traders, earnings from virtual currencies are treated as income from business.


Under this, certain expenses related to business, office maintenance, such as buying a comoucom, Internet expenses,office rent, administration costs, etc., Can be deducted.

If you are a trader and your turnover crosses the Rs 2 crore mark, you need to go for a tax audit by a charted accountant.

Another key issue is choosing the right form to file returns.
Dependimg on whether an Individual is treating it as capital gains or I come from other sources or business

Another key issue is choosing the right form to file returns. “Depending on whether an individual is treating it as capital gains or income from other sources or business...

Thanks Regards,

Vinay Kumar.

Trade TrueUSD {TUSD} on ZebPay Exchange

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Trade TrueUSD {TUSD} on ZebPay Exchange...

TRaseUSD trading starts Tomorrow, 9th August 2018, 1 PM IST onwards.
You will be able to busy, sell and Trade TUSD in two trading pairs: TUSD- INR and BTC-TUSS.

Move your TUSD to your Zebpay wallet as soon as lpossibl to avoid facing delays in transferring TUSD after trading starts.

Please Note: You will be able to send (withdraw) TUSD from Zebpay to any wallet without any network transfer fees. Send at Zero withdrawal fees. TrueUSD {TUSD} withdrawal fees are ZERO till 31st auAugu 2018.

Download the Zebpay app and start trading in India..

Thanks Regards,

Vinay Kumar.

Japanese Crypto-exchange group submits a proposal to form a self regulatory Organisation

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Japanese Crypto-exchange group submits a proposal to form a self regulatory Organisation..

A group of 16 Japanese Cryptocurrency exchangea - Japan Virtual Currency Exchange Association {JVCEA}, have presented a detailed proposal to the country's financial regulator, calling for the formation of self-regulatory organisation...

As per a report by CoinDesk, the JVCEA was formed in March and was registered with the Financial services Authority {FSA} in April.

Now the group is aiming to be a certified fund settlement business association..this means that If approved, the gruog will get the authority to impose self-regulatory rules on the country's Cryptocurrency trading market, which would eventually lead to stringent industry standards...

Japan's FSA itself, has been instrumental in cracking down on the cryptocurrency industry, with detailed inspections and obeservations of what licensed cryptocurrency exchanges are doing.

The suggestions shared by the JVCEA in its proposal, are also alimed at preventing the repetition of fraud or theft incidents related to Cryptocurrencies, such as the Coincheck Hack, which saw a loss of $ 533 Million USD from the exchangese digital wallets.

This proposed move by JVCEA, will also help FSA's mission, as it has been working extensively to ensure that cryptocurrency business are improved and enhanced with better internal auditing, apart from safeguarding the user's Assets.







Thanks Regards,
Vinay Kumar.

The Rise in Cryptocurrency Cash machine continues...

9 new Bitcoin ATM machines  are being installed a day.

The rise in Cryptocurrency machine continues...

Whilst there's still a sizeable way to go before the installation of Cryptocurrency ATMs comes anywhere close to the number for traditional cash machines, figures from CoinATMRadar have revealed that there are now over 3500 Bitcoin ATMs installed worldwide. Furthermore, over coins as well{ Litecoin and Either being the most prominent alternatives}.

Perhaps most interestingly, it's figures also reveal that 2018 has seen a spike in new machines installations, with nearly 1500 crypto ATMs being setup this year alone. Furthermore, coinATMRaCoi is reporting that 8.72 new Bitcoin ATMs are being introduced on average everyday.

The vast majority of the machines thus far are found in North America, accounting for just north of 74% of installations to date. By way of contrast, in Europe, 21% of the continent is now represented, and the site has put tohetogea Google Map overlay that allows you to track down crypto ATMS by coin and location.

General Bytes and Genesis Coin are the two companies who account for over 60% of the installed Cryptocurrency ATMS around the world, although there are over 30 different companies globally who supply such machines. In spite of what's been a bumpy couple of months for Cryptocurrencies, there appears little slowdown in Cryptocurrency ATM installations, and the 4000 mark should be broken-down if current trends continues- before the end of 2018.

Thanks regards,

Vinay Kumar.

CoinMarketCap Says Data Glitch Boosted Its Crypto Price Numbers

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Coin market cap says Data Glitch Boosted it's Crypto price Numbers:-

Coin MarketCap Data Issue caused significant artificial inflation of several coins listed on the platform on Friday, with some prices inflated by nearly 1000%.

While Bitcoin's price spiked 12% on the cryCrydata site, other coins saw more Drastic increases. The price of aeternity, the eighth most valuable Cryptocurrency, increased more than 951%< While MOA. Increased by 905% and Bitcoin diamond saw and 876% jump on site. The site's exchange tracker feature was also affected, and falsely indicated that Bitcoin was trading above $7,300 USD on some exchanges.

While Crypto Twitter speculaeds about ptempoten price manipulation,bugs and hacking,Coin marketcap told CoinDest that the inflation was caused by a data error.
There was a price calculation error on tether which caused any listings with a tether market to become artificially inflated.

The popular analystics platform has promised to telerel a post-mortem with further details in the near future.

The data error comes just two days after Coin Marketcap launched a new professional Level and fee based API, including am update exchange ranking page and the addition of derivatives markets to the site. In July the site said it planned to introduce new filters and ranking metrics to address what is called concerns over fake volume figures.




Thanks regards,
Vinay Kumar.