Fidelity Investments has recently announced the launch of a separate arm, which will give its institutional clients the opportunity to trade in cryptocurrencies like Bitcoin. The arm, known as Fidelity Digital Asset Services, LLC, will buy and sell digital currencies for various monetary ventures such as hedge funds and family offices. Continue reading INVESTING IN BITCOIN: NEW INSTITUTIONAL PLATFORM BY FIDELITY
The last year is called a year of cryptocurrencies. Overall, in 12 months the total capitalization of virtual currencies has grown by more than 3300% from $18 billion to $613 billion. Despite the fact that the cryptocurrency market was burning with fever at the beginning of 2018, the result it showed in 2017 is considered the best in the whole history of the restricted assets class. Continue reading Reevaluation: which cryptocurrencies are worth investing in 2018?
From fake Twitter accounts claiming to send free Ether and Bitcoin to imposters sending fake emails to ICO investors, cryptocurrency scams are increasing at an alarming rate. Even Apple’s co-founder, Steve Wozniak, lost seven Bitcoins to an online fraud. The latest company to join the growing list of scammers is BTC Global. The binary options trading platform reportedly pocketed more than $50 million Bitcoins from people in South Africa, America, Australia and others.
More than 27,500 people filed complaints against the company to South Africa’s Directorate for Priority Crime Investigation, usually known as the ‘Hawks‘. According to spokesperson Captain Lloyd Ramovha, “I have spoken to one of the investigators in our team and he has confirmed that this matter came to them about two weeks ago. There are in excess of 27‚500 complainants with many outside South Africa. The amount is over $50-million and could rise as more victims come forward.”
BTC Global was launched in Sep. 25, 2017 by ‘famous’ trader Steven Twain. His success in binary options trading led people to believe that the platform was trustworthy. However, the set-up was criticized and called out for being a scam ever since it was released. Reviews questioned the “unmatched returns” offered by the company.
BTC Global first allowed people to purchase BTC from the platform, followed by an advise to invest in their company to get 2% to 14% returns weekly. Victims told South African newspaper Times LIVE that their investments varied from $1,341.92 (R16,000) to $0.1 million (R1.4 million).