Tag Archives: USA

PayPal Files Patent

U.S.-based payments giant PayPal has filed a patent with the U.S. Patent and Trademark Office (USPTO), published on March 1, to increase the speed of cryptocurrency payments. The patent describes an “Expedited Virtual Currency Transaction System”, involving the use of secondary private keys to shorten wait times for transactions between consumers and merchants. The patent’s inventors are listed as Cheng Tian and Sandy Lynn Godsey of San Jose, California, with PayPal Inc. listed as the applicant. According to the patent, PayPal is attempting to solve the problem of slow transaction times for cryptocurrency trades that have led potential crypto users to “instead choose to perform the transaction using traditional payment methods rather than virtual currency:” “Issues like this have slowed the adoption of virtual currencies despite their advantages” the patent states. The patent details how the creation of secondary wallets with their own private keys will make transaction times much faster, “practically eliminat[ing] the amount of time the payee must wait to be sure they will receive a virtual currency payment in a virtual currency transaction.” The shortened wait time is due to the reportedly faster process of transferring the private keys associated with “predefined amounts” of cryptocurrency that are equivalent to the amount in the transaction.

Reference: https://cointelegraph.com/news/paypal-files-patent-for-system-to-speed-up-cryptocurrency-transaction-times

Dont Panic If Coinbase is Turning Over Your Info to the IRS

Coinbase recently notified approximately 13,000 of its customers that it was turning their information over to the United States. Coinbase has told those affected that it would be providing their taxpayer ID (social security number), name, birth date, address and transaction records from 2013-2015 to the Internal Revenue Service (IRS), by March 16, 2018. So what should you do if you received one of these letters? Coinbase advises recipients to contact a tax attorney. Sounds good, but also pretty boring. If you’re feeling up to it, you might also consider first, panicking, and then employing one of a number of “creative” approaches designed to make the problem go away entirely. It’s also important to remember that IRS employees are people too. Now, that doesn’t mean you have to love them or want them to succeed in collecting the most taxes they can. But it should mean that you think of how to approach them strategically, given that they are human and can be expected to have certain normal human responses.

Reference: https://cointelegraph.com/news/how-not-to-panic-if-coinbase-is-turning-over-your-info-to-the-irs-expert-take

Kraken Exchange

Kraken is one of the top European based exchanges, which offers a variety of fiat to Bitcoin pairs, such as JPY, EUR, GBP and USD. As well as these pairings, this leading exchange also offers a smattering of popular crypto to crypto pairs, which include Litecoin and Dogecoin.

Kraken also offer the ability to leverage your account balance on specific trading pairs, although, do be warned, the margin trading feature is best saved for the bravest traders! This feature will give your cash benefits in the markets, however, this is a risk, as your money could dramatically reduce if the markets go against your trade.

Security is a main concern with Kraken, and they ensure that the highest factors are put in place, including the two-factor authentication and PGP/GPG encryption.
The fees that the customers can expect to pay will vary depending on the volume. For the main trading pairs, you can expect to pay 0.1-0.35%; however, for the other less common crypto pairs, the range can be as low as 0.05%, or as high as 0.75%. For the traders who are offering liquidity, there are 0% fees.

The fees for withdrawals and deposits are all variable depending on the method; however, it is worth mentioning that in general all fees are 0.19% with a $20 minimum. This differs for JPY though, and there is a minimum deposit of 5000 Yen, and no transaction fee for the deposit, but 20 Yen to withdraw.

Year Launched: 2014

Country: USA

Website: https://www.kraken.com/

ICO : Fire Lotto

Fire Lotto is a modern blockchain lottery as simple and understandable as traditional lotteries are. 20 facts about Fire Lotto:
1. 100% decentralized lottery platform. Everything is built on ETH smart contracts.
2. Starting from 4 popular lottery games.
3. Minimum loosing combinations = real chances to win Jack Pot.
4. 70% of tickets sales go to Jack Pot.
5. Winnings are paid out automatically after each draw.
6. Lottery ticket starting price – 2 USD.
7. Ability to add more popular lottery games.
8. Play Fire Lotto from any device without an app.
9. Play in one click.
10. Payments are d totally secured and made in one click.
11. Transparent referral program. Join us and get up to 15% cashback for each ticket sold.
12. 10% commission payments to FLOT token holders provide an endless source of crypto income.
13. The prize pool can grow up millions and millions of dollars.
14. Random number generator is based on BTC blockchain.
15. Neither winning numbers nor lottery tickets can be faked.
16. No hidden charges, taxes and etc.
17. Fire Lotto platform cannot be shut down or effected anyway.
18. The Fire Lotto is totally anonymous.
19. GitHub open code.
20. The first internet community owned lottery.

Token : FLOT
Price : 1 FLOT = 0.35 USD
Platform : Ethereum
Accepting : ETH
Soft cap : 2,000,000 USD
Hard cap : 15,000,000 USD
Country : Cyprus
Whitelist/KYC : None
Restricted areas : USA

ICO: Gilgamesh Platform

Gilgamesh is a knowledge-sharing social platform powered by Ethereum smart contracts and blockchain technology. The network shifts the way readers, critics, and authors communicate and connect with one another. Using the Gilgamesh platform, users can gain and transfer knowledge in a protected environment that encourages widespread learning and education, and incentivizes the human race to become more thoughtful and information-centric. Productive interactions and engagements on the Gilgamesh platform earn users GIL Tokens, on the Ethereum blockchain through smart contracts. They can spend GIL tokens on in-app goods and services, or to vote on the governance of the platform.

Token : GIL
Price : 1 GIL = 1 USD
Bonus : Available
Bounty : Available
Platform : Ethereum
Accepting : ETH
Minimum investment : 0.1 ETH
Soft cap : 1,500,000 USD
Hard cap : 12,500 ETH
Country : USA
Whitelist/KYC : KYC