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Indian Supreme Court Rules in Favor of Cryptocurrency — RBI Ban Lifted

A historic day for the Indian crypto community, the supreme court has finally ruled on the case against the banking ban by the central bank, the Reserve Bank of India (RBI). The court held that the RBI circular which places a banking ban on the crypto industry is unconstitutional.

Supreme Court Rules: Big Win for Indian Crypto Community
On Tuesday, the Supreme Court of India finally ruled on the case against the banking ban by the Reserve Bank of India. Indian news platform Crypto Kanoon reported from the courtroom. “The Judgment Day has finally arrived,” the team said. At 10:45 a.m. in India, Crypto Kanoon tweeted:

Breaking: Supreme Court of India has struck off Reserve Bank of India’s (RBI) banking ban against crypto. The court held that RBI circular dated 6th April 2018 is unconstitutional.

The supreme court concluded hearing the arguments against the RBI ban on Jan. 28, after almost two years since it first decided to hear the case. The court heard extensive arguments from the counsel for the Internet and Mobile Association of India (IAMAI), Ashim Sood, followed by the counsel representing several crypto exchanges, Nakul Dewan. It also heard the arguments in favor of the ban by the central bank’s counsel, Shyam Divan.

The RBI issued a circular in April 2018 banning regulated financial institutions from providing services to crypto businesses. The ban went into effect three months later and banks subsequently closed the accounts of crypto exchanges, forcing some of them to shut down, including Zebpay, Coindelta, and Koinex.

India’s Crypto Regulatory Framework
The cryptocurrency community all over the world has been eagerly waiting to see what India will do about its cryptocurrency policy. The Indian government has been sitting on a draft bill that seeks to categorically ban cryptocurrencies, except state-issued ones, since February last year. The “Banning of Cryptocurrency and Regulation of Official Digital Currency Bill 2019” was drafted by an interministerial committee (IMC) tasked with studying all aspects of cryptocurrency and providing recommendations for India’s crypto policy. The IMC was headed by former Finance Secretary Subhash Chandra Garg who has since resigned from his position in government. Nonetheless, he still holds the view that cryptocurrencies have “a very short future,” believing that they are “essentially worthless codes.”

The bill also provides for the RBI to issue a central bank digital currency. The RBI has already been looking into this area, Governor Shaktikanta Das revealed in December last year. “As and when the technology evolves with adequate safeguards, I think it is an area where the Reserve Bank will certainly look at seriously at an appropriate time,” he said.

read more on https://news.bitcoin.com/indian-supreme-court-cryptocurrency-rbi-ban-lifted/

2
Crypto Discussion / Crypto Quiz
« on: February 29, 2020, 03:07:40 PM »
Lets brush up our Crypto knowledge through the quiz sessions
Reply with the correct answer below.

3
Buying Cryptos With Paypal
The cryptocurrency ecosystem is 11 years old and there are more ways than ever to purchase and obtain cryptocurrencies in 2020. Some trading platforms allow users to pay with debit and credit cards and with bank transfers as well. But there’s also a slew of businesses that allow people to purchase bitcoin and other cryptos with the Paypal payment processor.

In order to make your first cryptocurrency purchase by leveraging Paypal, you obviously need a Paypal account. You also need to register with a trading platform or brokerage service that sells digital currencies like BTC, BCH, and ETH with Paypal. There’s a good number of services that allow users to pay for their cryptos with the payment provider. Lastly, you will also need a cryptocurrency wallet that supports the digital asset you want to purchase. Bitcoin.com’s wallet is an excellent noncustodial wallet solution that allows you to store, send, and receive both BTC and BCH.

How To Buy Bitcoin and Other Cryptocurrencies Using Paypal
There are various ways to purchase cryptocurrencies and one method is by using Paypal.
Using an Exchange
A lot of individuals use the exchange Coinbase ever since they added the ability for customers to link their Paypal and Coinbase accounts. Depending on where you live you can purchase or sell Coinbase listed digital assets using the Paypal system. If you want to use Coinbase in order to utilize Paypal, then you must complete all of the identity verification procedures issued by the San Francisco firm. After your identity is confirmed with Coinbase, go to the “settings” section and then “linked accounts.”

Simply click the “new account” tab and choose Paypal and the Coinbase dashboard will prompt you to log in to Paypal. After all these steps are complete, you can then purchase and sell digital assets with Paypal using the exchange. However, you can only link your Paypal account to one Coinbase account, the company’s guidelines note.


The Coinbase FAQ on how to leverage Paypal with a Coinbase account.
Using a Peer-to-Peer Marketplace
Another way to use Paypal in order to obtain cryptocurrencies is by using the peer-to-peer marketplace Local.Bitcoin.com. If you want to buy bitcoin cash (BCH) with Paypal you can register and log into your Local.Bitcoin.com account and press the “trades” tab. This will give you access to the “find an offer” and “create an offer” tabs.

In the find an offer section, you can simply search for people selling BCH that accept Paypal for payments. Or, if you are planning to sell BCH, you can head over to the create an offer section and create one that accepts Paypal for payments. Looking at the worldwide listings on the BCH marketplace shows that there’s a great number of buyers and sellers who use Paypal. Other localized exchanges like Paxful, Localbitcoins, and Localcryptos (formally Localethereum) also let traders use Paypal.


The private, noncustodial BCH marketplace Local.Bitcoin.com allows people to purchase and sell cryptos with the Paypal service.
Weighing the Pros and Cons
Other trading services that allow you to purchase digital currencies via Paypal include Etoro, Xcoins, Cancoin, Cryptonit, and Wirex. Every platform and exchange has pros and cons when it comes to buying cryptocurrencies with Paypal. For instance some services, like certain peer-to-peer marketplaces, offer better privacy and you don’t need identity verification to trade with Paypal.



However, a bunch of the aforementioned companies do require account verification and KYC procedures like submitting a photo ID or proof-of-residence. Similar to Coinbase, in order to leverage Paypal with Wirex, you need to submit identification documents to deposit USD and be able to select the Paypal option. Most of the platforms that require identification will simply let you tether a Paypal account to the exchange as soon as you pass the verification services process.

It’s likely that anonymity won’t be a big deal to people who want to use Paypal to purchase cryptos because the Paypal system itself is not really anonymous or private. If ID verification is an issue, people can always utilize trading platforms like Local.Bitcoin.com for more privacy. With more than 260 million active Paypal users today, there’s definitely a number of individuals who want to purchase or sell digital currencies like ethereum or bitcoin cash with the payment service.


source
https://news.bitcoin.com/how-to-buy-bitcoin-paypal/

4
Crypto Discussion / Crypto Glossary
« on: January 09, 2020, 01:50:00 PM »


Wana check out some frequent crypto terms ??
click on the image below

To view more check visit  https://www.facebook.com/DigitalTicksExchange/

5
Trading / 7 Things to Know to Become a Successful Crypto Trader
« on: December 27, 2019, 11:11:30 AM »

7 Things to Know to Become a Successful Crypto Trader


The growth in the Blockchain and cryptocurrency space shows their future potentiality to rise over the other payment technologies. Investing in crypto isn’t that difficult, but then it isn’t that easy either. In order to be a successful trader it is important to have a strategy and follow it till you see the results and repeat if required. After conducting a thorough research we have compiled the top 7 facts to know to succeed in crypto trading.

1) Build a diversified portfolio
Beginners put all their eggs in one basket while a professional would know what to do exactly. The smarter approach is to build a diversified portfolio based on market cap, tech and team behind the project. This decreases the risk of incurring losses.

2) Review your portfolio and trading strategy every 60 days
It is easy to chart your progress and see which way your portfolio is moving. As traders follow their strategy, it is advisable to keep an eye on Bitcoin price and its market capitalization. As Bitcoin’s price increases, its market capitalization increases and this leads to a fall in altcoin prices. This means it's time to hold or exchange for Bitcoin.

3) Don’t participate in lending programs with inadequate information
While there are lucrative lending programs in the market offering as much as 8% interest pa on lending your cryptocurrencies, it is recommended that you conduct a thorough research and then invest in such projects.

4) Continue reading on : https://www.digitalticks.com/blogs/7-Things-to-Know-to-Become-a-Successful-Crypto-Trader.html

6
What-is-the-Technology-behind-Cryptocurrencies

Blockchain is creating buzz all around the world. The potential of blockchain technology is so immense that it is soon going to cause a revolution. More and more investors these days are drawing in attention and are encashing huge amount of money because now they know that it is going to go a long way and the future is pretty bright.

What is A Blockchain Technology?
Blockchain, the distributed ledger technology is a time-stamped, immutable series of record of data that is managed by several computers across the world, and not just by one supercomputer. Each block of data is secured with a cryptographic reference to the preceding block.

In 2008, the technology was invented to create Bitcoin, the original digital currency by a group of people or person known by the pseudonym Satoshi Nakamoto. When the bitcoins were first introduced in 2009, the blockchain technology did not immediately catch the attention of the tech industry. However, it did not even take too long for it to fire the imagination. Now, the technology that forms the basis of cryptocurrencies is seen as a breakthrough invention, with immense potential.

Moreover, Blockchain Technology is a combination of three technologies and they are:

Cryptography of private and public key
Public distributed ledger (Peer to Peer Network)
Program or protocol (rules)
To understand blockchain technology we will now understand the sub-components of blockchain in detail.

1) Cryptography of private and public key :
Public Key: As per its name it is open for all. It is available for everyone through publicly accessible directory
Private Key: Private key needs to remain confidential w.r.t to its owners.
 
Continue reading on: https://www.digitalticks.com/blogs/What-is-the-Technology-behind-Cryptocurrencies-Blockchain-Explained.html


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What-is-the-Technology-behind-Cryptocurrencies-Resize
Blockchain is creating buzz all around the world. The potential of blockchain technology is so immense that it is soon going to cause a revolution. More and more investors these days are drawing in attention and are encashing huge amount of money because now they know that it is going to go a long way and the future is pretty bright.

What is A Blockchain Technology?
Blockchain, the distributed ledger technology is a time-stamped, immutable series of record of data that is managed by several computers across the world, and not just by one supercomputer. Each block of data is secured with a cryptographic reference to the preceding block.

In 2008, the technology was invented to create Bitcoin, the original digital currency by a group of people or person known by the pseudonym Satoshi Nakamoto. When the bitcoins were first introduced in 2009, the blockchain technology did not immediately catch the attention of the tech industry. However, it did not even take too long for it to fire the imagination. Now, the technology that forms the basis of cryptocurrencies is seen as a breakthrough invention, with immense potential.

Moreover, Blockchain Technology is a combination of three technologies and they are:

Cryptography of private and public key
Public distributed ledger (Peer to Peer Network)
Program or protocol (rules)
To understand blockchain technology we will now understand the sub-components of blockchain in detail.

1) Cryptography of private and public key :
Public Key: As per its name it is open for all. It is available for everyone through publicly accessible directory
Private Key: Private key needs to remain confidential w.r.t to its owners.
Below diagram represents a digital signature

Digital-Signature-final
2) Public distributed ledger (Peer to Peer Network):
A distributed ledger (also called a shared ledger, or distributed ledger technology, DLT) is a database, i.e. continuiously shared, and synchronized across multiple sites, countries, or institutions. No middleman required for monitoring and controlling the system.

3) Program or protocol (rules):
The way Blockchain works are determined by a protocol. They exist in different places. Whereas cryptocurrency protocols allows working of several apps like the crypto app itself. It gives security and access to the blockchain

Technology Underpinning Cryptocurrencies
Blockchain is the technology underlying virtual currencies. It is the technology that makes the cryptocurrencies’ peer-to-peer transaction process secure, fast, and free of regulatory control. Moreover, it ensures that the transactions can be verified by both the involved parties, and the record of the transaction is kept in a decentralized, public ledger.

One of the key features of blockchains is, the data can never be erased or changed, although anybody can enter it in the ledger, at any point of time. This makes the cryptocurrency exchange process transparent. Moreover, the ledger keeps the record of every transaction from start to end. Therefore, the biggest advantage is that, the data can’t be tampered.

Blockchain also eliminates the need for trust in the cryptocurrency exchange process. Trust is the foundation on which the conventional trading and payment methods operate, but blockchains works on the principle of “trustlessness.” The distributed ledger technology ensures that the integrity of the cryptocurrency system is maintained and the data is not manipulated. There is no middle authority to oversee “trust” when a cryptocurrency transaction takes place.
Source : https://www.digitalticks.com/blogs/What-is-the-Technology-behind-Cryptocurrencies-Blockchain-Explained.html

8
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9
Is it going to be a positive or negative impact ?

10
Crypto Discussion / The Most Common Misconceptions About Bitcoin
« on: June 14, 2019, 11:36:18 AM »
Most people from around the world that hear about Bitcoin are confused. It is completely normal to feel like that. Bitcoin is relatively new. It appeared in 2008 as a white paper written by Satoshi Nakamoto, an alias of a person that nobody knows. Then, the official launch as a currency took place in 2009.


Nowadays, there are numerous articles written online about cryptocurrencies, and countless websites that cover other options, like stablecoins. However, there is no denying the fact that Bitcoin is the most popular cryptocurrency out there. Even so, there are many misconceptions associated with Bitcoin. Below you can read about the most common ones so that you can be better informed about the most popular cryptocurrency.

“This Is A Bitcoin”
When Bitcoin is presented in the media, it is usually shown as a coin with a specific design. Because of this, the golden token is what many think Bitcoin (BTC) is. In reality, this conception of the token is worthless and just a symbol.

The best way to describe a Bitcoin is to say it is a digital currency. Practically, the currency does not have a physical form. You will never see coins that are minted.

“An Entire Bitcoin Needs To Be Bought”
One of the most interesting things about Bitcoin is that it is divisible up to eight decimals, as opposed to a regular currency like the US Dollar, which can only be divided up to 2 decimals. This means you can hold as little as 100 millionth of a Bitcoin.

Historically, the value of 1 BTC reached a maximum of $19,783.06. This means that buying 1 BTC is not something that most people can afford. Due to this reality and the huge potential value of cryptocurrencies in general, the eight decimals are in place.

“Bitcoin Has No Intrinsic Value”
Similarly to all currencies in the world, Bitcoin has value because there are millions of individuals from all around the world sharing the thought that the cryptocurrency offers a much cheaper, faster, and safer transaction network. There is a limited supply of Bitcoin possible. People have to own currency units in order to take advantage of the transaction network, so there is a value associated with Bitcoin.

“We Already Know Everything Bitcoin Offers”
When the internet appeared during the early nineties, nobody knew what the future would offer. Numerous companies appeared and started developing
Read more on:https://medium.com/altcoin-magazine/the-most-common-misconceptions-about-bitcoin-780a763cf8b1

11
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12
Trading / Which exchange can i get BCH from
« on: May 25, 2019, 09:40:27 AM »
Which exchange can i get BCH from ? Is it worth buying bitcoin cash

13

Shutting down of Crypto Exchanges in India – Opening Doors for Registered Crypto Exchanges

Coinome, the cryptocurrency exchange in India, upheld by the online payment gateway Billdesk announced the closure of its activities with its operations halting from 15th May.
Recent regulatory changes presented by the Reserve Bank of India (RBI), an absence of policy clarity from the government, and a consequent low shift in the trading volumes, are believed to be the reason behind this move. The RBI’s circular came after it was seen that few organizations had begun dealing in cryptocurrency once again over thousands of digital currencies, the government and the RBI guarantee, had no intrinsic value – leaving investors at risk.

“Moreover, it stays unclear if the organization intends to leave the Indian market completely or has just temporarily shut the exchange platform off”.

Read more on Source: https://www.bulletincrypto.com/shutting-down-of-crypto-exchanges-in-india-opening-doors-for-registered-crypto-exchanges/

14
Crypto Discussion / Views about binance exchange getting hacked
« on: May 14, 2019, 04:24:23 PM »
Binance suffered what it’s calling a “large scale security breach” yesterday evening. The hackers were able to transfer 7,000 Bitcoin $BTC▼1.22% (over $40 million at the time of writing) in one transaction from the company’s hot wallet.

In an announcement last night, Binance‘s CEO Changpeng Zhao said that hackers were able to obtain user API keys, two-factor authentication (2FA), and potentially other info – it has not disclosed what, though.

Binance claims the attackers used a range of techniques including phishing and malware to carry out the hack. The attack managed to circumvent Binance‘s security checks, but after noticing the strange activity, the exchange blocked all withdrawals.
At this point, Binance also doesn’t know how many accounts have been affected.
Being the most secured and world's largest crypto exchange, people are questioning that how can Binance afford to go through a security breach?
It is been considered as nightmare for the traders on the exchange
Security and privacy are the two most crucial factors that create the base for any crypto currency exchange
The announcement also says that Binance will use its SAFU (Secure Asset Fund for Users) emergency insurance fund, to reimburse accounts affected by this breach. Is that really going to happen?

Withdrawals will continue to be blocked for the next seven days while Binance carries out a security check

15
Binance is lying outright or by omission. Not ONE person has come out and demonstrated their account was one of the ones that was compromised. The hacker would have had to bypass email authentication, sign in, two-factor authentication, and API keys for enough accounts to get 7,000 bitcoin. There are no unusual trades during this period which would allow a hacker to trade bitcoin out of user wallets into their own within the exchange in order to bypass 2FA/email withdraws on some accounts. If it was really the case thousands of accounts were compromised at least one person would have come out publicly about their account. The way I see it there are three options.

this hack didn’t happen and its an excuse to lock withdraws

it was an inside job from Binance staff member(s)

the entire exchange has fatal bugs in the base code that were exploited.

It is highly suspicious that Binance initially claimed they were doing emergency maintenance, then admitted to being hacked and that they would recoup all losses out of pocket without taking the time to investigate this hack AT ALL. Why would they recoup losses out of pocket if it was the users fault? It is absolutely not a sustainable business practice and it is rife for abuse. Not to mention, the timing of this all occurring as Tether and Bitfinex are being indicted by the NY AG and a bank run is occurring on the Bitfinex exchange. Tether was shown to only be ~75% backed. Remember, Binance is/was the largest holder of tether, and just a day or two before the “hack” they moved ~740M through thousands of accounts/transactions. Now the Binance Tether coldwallet has only ~600M tether. Where did the other 140M go? The move was structured like a blend. Also, anecdotally, I am notcing a severe uptick in Binance astroturfing.
Source: https://www.reddit.com/r/CryptoCurrency/comments/bmou61/connecting_the_dots_with_the_binance_hack/

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