Tag "bitcoin"

Citi India bans purchase of bitcoins using debit and credit cards

By : CIOL Writers

Citi India has banned the purchase or trading of virtual cryptocurrencies using debit and credit cards. Citi, the multinational bank joins other banks such as SBI, ICICI Bank, HDFC Bank, Axis Bank and Yes Bank suspended accounts of major bitcoin exchanges

Bitcoin drops below $7K

By : CIOL Writers

Digital Cryptocurrency Bitcoin which was on a roll in December 2017 has fallen more than 15 percent to record a three month low. The cryptocurrency fell as low as $6,853.53 in early afternoon trading in New York. With this drop, the highly

Budget’18: Bitcoins not legal but Govt will explore blockchain

By : CIOL Writers 1

In a big blow for cryptocurrency, Finance minister Arun Jaitley in his Union Budget speech deemed Bitcoin and other cryptocurrencies illegal tender in India but said that the government will explore its underlying technology, i.e. blockchain. “The government does not recognise

Facebook bans cryptocurrency and ICO ads

By : CIOL Writers

Updating its advertising policy, Facebook has announced in a blog post that it now prohibits ads that use “misleading or deceptive promotional practices,” which, according to the social media platform, includes ads of cryptocurrencies and Initial Coin Offerings (ICOs). Cryptocurrencies like Bitcoin, Litecoin and Ethereum, and initial coin

Japan’s cryptocurrency exchange loses over $500M in cyber theft

By : CIOL Writers

Japanese cryptocurrency exchange Coincheck suspended client deposits and withdrawals for virtual currencies except bitcoin, on Friday saying it had been hacked. Coincheck said it was investigating “unauthorised access” of the exchange that appeared to result in a loss worth half

BitConnect shuts down amid allegations of being a Ponzi scheme

By : CIOL Writers

Amid allegations of being a Ponzi scheme and having suffered multiple DDoS attacks, lending and exchange platform Bitconnect has announced that it is shutting down. In a release on its website the platform said the shutdown is attributed to “continuous bad press” surrounding the platform,

Another cryptocurrency Ethereum now hits historic $1,000 milestone

By : CIOL Writers

While Bitcoin may not have had a bright start to 2018, looks like other cryptocurrencies are soaring to new heights. The third largest cryptocurrency by market value, Ethereum hit a new high of $1,000 per unit in early trading on

Bitcoin drops to $13K on the 1st day of 2018

By : CIOL Writers

After a huge and profitable year, Bitcoin has dropped to $ 13,000 for the first time since 2015. The virtual cryptocurrency has fallen from $19, 511 it reached on December 18 to $13624.56, as of 5 PM in New York on

Bitcoin miner NiceHash gets new CEO following hack

By : CIOL Writers

Weeks after hackers stole away $60 million worth of bitcoin from cryptocurrency mining startup NiceHash, the Slovenian startup has replaced its CEO. Marko Kobal, who cofounded NiceHash, stepped down last week from his role as the CEO, announcing it on LinkedIn. “As you are

Senior Facebook exec David Marcus joins Coinbase’s board

By : CIOL Writers

Bitcoin startup, Coinbase that shot up to top spot in the iTunes store last week has got on board Facebook Vice President of Messaging Products David Marcus as it navigates through an uncertain and frenzied period of growth. The appointment was announced by

Bitcoin miner NiceHash loses $60M after security breach

By : CIOL Writers

After touching $14,000 mark and creating a frenzy of sorts for past few days, Bitcoin brought in some trouble for users when Slovenian-based bitcoin miner NiceHash reported a cyber-breach on Wednesday. “Unfortunately, there has been a security breach involving NiceHash website. We are currently

World’s largest cryptocurrency Bitcoin soars above $12,000

By : Riddhi Sharma

There seems to be no stopping for the world’s largest cryptocurrency, by market value, Bitcoin. It has now surpassed $12,000 and hit a new all-time high. It is surprising to see the surge in its value from $1,000 at the

Bitcoin is now worth $9,000

By : CIOL Writers

Bitcoin bubble continues to grow reaching yet another new record high of $9,000 over the weekend, according to CoinDesk’s Bitcoin Price Index. This continues a roughly eight-month winning streak for Bitcoin and other cryptocurrencies, which use decentralized ledgers and cryptographic security to move

7 reasons why countries should legalize cryptocurrencies

Vishal Gupta Bitcoin’s popularity and surge in usage has not been without cons. However, some countries took it upon themselves to ban the new age currency. For example, in Vietnam, Bitcoin can be used freely by citizens but credit institutions

Russia to launch state issued cryptocurrency ‘CryptoRuble’

By : CIOL Writers

Russian President Vladimir Putin has stated that the country will be issuing its own cryptocurrency, the CryptoRubble, which in a way is very similar to the likes of Bitcoin and Ethereum. The news was first reported by CoinTelegraph, citing Russian Minister

Bitcoin surges past $5K to record an all time high

By : CIOL Writers

Bitcoin, the biggest and best-known cryptocurrency, has jumped past the $5,000 barrier, as reported by Reuters. The cryptocurrency rose by more than 8 percent to $5,243 having started this year at $966. Bitcoin has increased by more than 750 percent

Bitcoin breaks $3K barrier to record an all-time high

By : CIOL Writers

Bitcoin, the worldwide cryptocurrency, and digital payment system has recorded an all-time high valuation of $3000 per coin. A number of exchanges, including Coinbase and Kraken, have valued a single bitcoin at over $3,000, that is up $485 on the valuation

Bitcoins could be legalized in India as early as next month

By : CIOL Writers

Cryptocurrency is making waves in the global currency market. And let us tell you, the craze is very much valid. Last month, Bitcoins made headlines for crossing the value of $2,000 per coin for the first time in history. Well

Creating history, Bitcoin valuation tops $2,000 per coin

By : CIOL Writers

Bitcoin, the world’s most popular cryptocurrency, has broken all its previous records and achieved a new milestone with the value of Bitcoin reaching $2,000 per coin for the first time in history. Bitcoin was trading as high as $2,185.89 in

Bitcoin: Digital currency or criminal currency?

By : CIOL Writers

WannaCry cyber attack that engulfed more than 100 countries over the weekend indeed left many people crying. The ransomware apparently based on stolen US National Security Agency’s surveillance tools affected tens of thousands of machines worldwide, that included Spanish telecommunications giant Telefónica, operations at the