Thailand distributing digital money to 45M citizens to boost economy
The controversial plan began as a campaign promise and will help lower-income Thais buy more.
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The controversial plan began as a campaign promise and will help lower-income Thais buy more.
Mesh, a US-based fintech company specializing inintegrations with over 300 leading exchanges and wallets, and Conio, theItalian fintech backed by Poste Italiane and Banca Generali, announced thelaunch of Europes first Open Banking solution for Bitcoin.
Open Banking for Bitcoin
This integration, hosted on Conios platform, offersstreamlined access to the entire crypto ecosystem for its 430,000+ customers inItaly. Users can now seamlessly link their Bitcoin wallets with prominentdigital asset exchange platforms.
The collaboration leverages Mesh's capabilities to directlyconnect Conio's app with ten major platforms, including Binance, Coinbase, andKraken, with more to follow in the coming weeks. This integration aims tosimplify account management across multiple platforms within the Conio App,setting a precedent for Open Banking in the Bitcoin and digital assets sphere.
Key objectives of the project include enhancing the Bitcointransfer process by eliminating common friction points such as QR code usageand complex address handling. This approach aims to mitigate risks associatedwith incorrect transfers and enhance user security through Conio's robustcustody solutions, utilizing a three-private-keys system.
This collaboration with Mesh is a crucialstep towards consolidating an integrated ecosystem that simplifies the use ofsecure custody solutions like Conios. We are excited to offer our users aunique platform for managing their assets, combining security, simplicity, anddirect access to leading exchange platforms, said Christian Miccoli, CEO andfounder of Conio.
Breaking: Conio, the Italian fintech in collaboration with Mesh, a US-based fintech company, has launched Europe's first open banking solution tailored for #Bitcoin.Users can now effortlessly connect their #BTC wallets to leading digital asset exchange platforms.#Crypto
Coinpedia (@CoinpediaNews) July 1, 2024Rising Digital Asset Adoption
Industry research underscores the growing adoption ofdigital assets across Europe. In Italy, where 19% of respondents have purchasedcryptocurrencies according to Adan and KPMG's survey, and similar trends areobserved across Germany, France, the UK, and the Netherlands, highlighting theincreasing importance of secure digital asset management solutions.
Open banking is Europes next major catalyst for digitalasset adoption, and with our partnership with Conio, we are deploying theinfrastructure to make safe and seamless aggregation and crypto transferspossible for hundreds of thousands of users in the region," explained BamAzizi, Founder and CEO of Mesh.
This article was written by Tareq Sikder at www.financemagnates.com.As a welcome bonus, Curve is giving you £10 for free when you sign up using our link.
RockWallet is an app for managing digital assets. Its self-custodial nature ensures you have full control, while its security tools provide peace of mind.
The post RockWallet: Secure, Self-Custodial Crypto Wallet for Effortless Digital Asset Management appeared first on Crypto Breaking News.
Federal prosecutors charged Samurai Wallet founders, Keonne Rodriguez and William Lonergan Hill, with conspiracy to commit moneylaundering yesterday (Wednesday), marking another development in the USgovernment's ongoing efforts to address the use of crypto mixing toolspotentially exploited by illicit actors and foreign entities to concealfinancial transactions.
Facing Legal Action over Alleged Transactions
According to a press release issued on Wednesday, Rodriguezand Hill stand accused of developing, marketing, and operating the mixer,purportedly facilitating more than $100 million in money launderingtransactions from illegal dark web markets. The release further alleges thatSamourai Wallet facilitated approximately $2 billion in "unlawfultransactions" from 2015 to the present.
Prosecutors have claimed that Rodriguez and Hill accrued around$4.5 million in fees for their mixing services, with different featurescarrying various pool fees, as outlined in the indictment. The charges againstthe duo include conspiracy to commit money laundering and conspiracy to operatean unlicensed money-transmitting business, carrying potential maximum sentencesof 20 years and five years, respectively.
Rodriguez was reportedly arrested on Wednesday morning andis expected to be arraigned in Pennsylvania today or tomorrow, while Hill, theChief Technology Officer of Samourai Wallet, was apprehended in Portugal andwill face extradition to the US.
Federal prosecutors have charged Samurai Wallet founders Keonne Rodriguez and William Lonergan Hill with conspiracy to commit money laundering According to a press release, the pair developed, marketed and operated the mixer, which "facilitated more than $100 million in money pic.twitter.com/wOY8iZR95y
Waivly (@Waivly) April 24, 2024Website Seized Following Developer Indictment
The Samourai Wallet website,previously hosted in Iceland, has been seized, along with a seizure warrantissued for the mobile application on the Google Play Store. The website'shomepage now displays a warning from US officials following the developers'indictment.
The Department of Justice's press release highlighted thatSamourai Wallet had been under development since 2015, alleging that Rodriguezand Hill actively encouraged users to launder criminal proceeds through themixer, citing social media posts and private messages. The mobile applicationreportedly garnered over 100,000 downloads.
This article was written by Tareq Sikder at www.financemagnates.com.
The recent introduction of Kraken Wallet has marked anadvancement in cryptocurrency adoption. This self-custodial wallet isengineered to streamline on-chain transactions. Kraken Wallet emphasizessimplicity, security, and functionality, with the overarching goal ofbroadening accessibility to decentralized finance.
Access to Decentralized Finance: Wallet's User-CentricDesign
Regardless of whether individuals are Kraken clients or not,the multichain Kraken Wallet serves as a conduit to the decentralized financialecosystem. Emphasizing privacy and security, it enables users to maintaincustody of their digital assets and data, underpinned by Krakens securityprotocols.
With an intuitive user experience, Kraken Wallet eliminatesthe need for complex network switching or the management of multiple seedphrases. Key features include comprehensive portfolio tracking, support formultiple blockchains, WalletConnect integration for access to decentralizedapplications, and round-the-clock customer support.
Meet the brand new Kraken Wallet: simple, secure, powerful. Manage multiple wallets Multi-chain support Manage NFTs & DeFi positions IP privacy & Encryption No client side trackingDownload now https://t.co/EYHweJGDzV pic.twitter.com/jLbldh9j6k
Kraken Exchange (@krakenfx) April 17, 2024The Wallet collects only essential data necessary for itsoperation. User activity is routed through Krakens infrastructure to safeguardIP addresses and shield personal information from external exposure. The walletdoes not retain any user sign-in details, email addresses, or KYC information.
EXCLUSIVE: Crypto exchange @krakenfx is releasing their own self-custody wallet, Kraken Wallet, to compete in the crypto wallet space with offerings like @coinbase wallet and @MetaMask - @cryptauxmargaux reportshttps://t.co/PTGFT8lxQh
CoinDesk (@CoinDesk) April 17, 2024Entering the Crypto Wallet Market in Alignment withCompetitors
The security of Kraken Wallet is fortified through variouslayers of protection, including biometric authentication and encrypted userpasswords. To ensure security measures, the wallet underwent a security auditconducted by Trail of Bits, known for its expertise in cybersecurity.
The launch of Kraken's new wallet brings it into alignmentwith the competitors like MetaMask, Ledger, and Trezor within the bustlinglandscape of cryptocurrency wallets. While Coinbase's offering holds sway withits widespread popularity, competitors like Binance and OKX also cater to userswith their own wallet solutions.
This article was written by Tareq Sikder at www.financemagnates.com.
Discover GCash's latest innovations, including GCrypto, GStocks, and GChat, showcased at the FutureCast Summit.
The post GCash Unveils GCrypto, GStocks, GChat & More at FutureCast 2023 appeared first on BitPinas.
Rumble launches a new wallet for content creators, integrating Tether's USDT stablecoin for faster, more efficient payments and enhanced monetization options.
Santa Cruz County in California is set to launch a pilot program using a blockchain-powered digital wallet for government services, including bicycle registration and RV parking registration. The program, powered by HUMBL, will launch in July 2023 and run a three-stage pilot program. The county aims to provide a formal report and rollout plan for the digital wallet by September 2023.
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In the wake of over 5,000 crypto ATMs being taken out of service during the initial four months of 2023, the past four months have witnessed a resurgence in global crypto ATM installations. Crypto ATM Landscape Rebounds After Downturn Ever since the debut of the first bitcoin ATM in Vancouver, Canada, back in 2013, there [...]
The post Global Crypto ATM Resurgence: Net Growth Rebounds After Initial 2023 Slump appeared first on Crypto Breaking News.
As the world of cryptocurrencies continues to grow in popularity, more people are looking for easy and secure ways to invest in digital assets. For individuals who are familiar with mobile payment networks such as Google Pay and Apple Pay, the notion of using these services to purchase cryptocurrency is an appealing alternative.
In this article, we will walk readers through the step-by-step process of purchasing cryptocurrencies through these major payment systems, providing a thorough insight to the exciting world of digital investments.
Recognizing Google Pay and Apple Pay
Before proceeding with the purchase, it is critical to understand the foundations of Google Pay and Apple Pay. Users can link their credit or debit cards to their smartphones and perform secure purchases with a tap or fingerprint scan using these mobile payment systems. These systems make use of Near Field Communication (NFC) technology to enable contactless payments at merchants and applications that accept it.
Configuring Your Mobile Wallet
To get started, make sure your smartphone has the Google Pay or Apple Pay app loaded. After installing the app, launch it and follow the on-screen steps to configure your mobile wallet. This usually entails entering your credit or debit card information, which will be securely saved on the device.
Selecting a Crypto Exchange
After you've created your mobile wallet, the next step is to find a trusted bitcoin exchange. Check that the exchange accepts Google Pay or Apple Pay and has a varied range of cryptocurrencies to pick from. Conduct extensive research to select an exchange with a user-friendly interface, superior security, and reasonable fees.
Account Registration and Verification
Most cryptocurrency exchanges require you to register and validate your account before you can use them. Typically, this process entails entering your email address, setting a strong password, and validating your identity by presenting appropriate identification documents. Verification may take a few days, so complete this step as soon as possible to minimize delays in purchasing cryptocurrency.
How to Add Your Mobile Wallet to the Exchange
You can link your mobile wallet to the bitcoin exchange once your account has been validated. Navigate to the exchange's settings or payment methods area, select Google Pay or Apple Pay, and then follow the directions to add your mobile wallet. For security reasons, some exchanges may necessitate an additional degree of verification.
Adding Money to Your Mobile Wallet
Before you can buy cryptocurrency, make sure you have enough money in your Google Pay or Apple Pay account. You can fund your mobile wallet by attaching a credit or debit card or transferring funds from your bank account. To complete this process safely, follow the instructions provided by the payment platform.
Begin Your Crypto Purchase
You are now ready to purchase cryptocurrencies after funding your mobile wallet. Navigate to the cryptocurrency exchange's "Buy" or "Trade" section and select the digital asset you want to buy. Enter the amount to be purchased and select Google Pay or Apple Pay as your payment option.
Transaction Confirmation
Examine the specifics of your purchase to check that everything is correct. When you're finished, click the "Confirm" or "Buy" button to complete the transaction. The transaction may take a few moments or longer to complete depending on the exchange and the cryptocurrency's network.
Keeping Your Cryptocurrency
Congratulations, you now own cryptocurrency! The coin will be credited to your exchange account once the purchase is completed. However, for increased security, consider shifting your holdings to a private, secure wallet. For long-term safekeeping of your digital assets, hardware wallets or software wallets with strong security measures are advised.
Diversify and Prosper: Buying Crypto Ahead of Bitcoin's Halving
As investors seek alternative assets to enhance their portfolios, the allure of cryptocurrencies, led by Bitcoin, has become undeniable. One of the compelling reasons to consider investing in digital currencies is their potential to diversify investment portfolios. Furthermore, the upcoming Bitcoin halving event adds an extra layer of interest for investors looking to capitalize on the crypto market's unique dynamics.
Diversification: A Key to Reducing Risk
Diversification is a fundamental principle in investment management. It involves spreading investments across various asset classes to minimize risk and optimize returns. Traditional portfolios often include a mix of stocks, bonds, real estate, and commodities. However, cryptocurrencies have emerged as an intriguing addition to the mix, offering investors a new avenue to diversify their holdings further.
Bitcoin's Halving: A Rare Event with Potent Impact
Bitcoin, the pioneering cryptocurrency, operates on a predetermined and unique monetary policy. Every 210,000 blocks mined, which typically takes around four years, a crucial event called "halving" occurs. During this event, the block reward for miners is halved. Originally set at 50 Bitcoins per block, it reduced to 25 in the first halving and subsequently to 12.5 in the second halving.
The third halving, which occurred in May 2020, brought the block reward down to 6.25 Bitcoins. The upcoming fourth halving is anticipated to happen soon, further reducing the block reward to a mere 3.125 Bitcoins. This mechanism, encoded into Bitcoin's protocol, makes the supply of new Bitcoins scarcer over time, mimicking the mining of precious metals like gold.
The scarcity introduced by the halving events has historically led to significant price surges in the aftermath. As the supply diminishes and demand either remains stable or increases, the reduction in new Bitcoin entering circulation often drives up the price due to the simple economic principle of supply and demand. Hence, the Bitcoin halving is eagerly awaited by crypto enthusiasts and investors alike.
4 Reasons to Consider Buying Crypto Ahead of the Halving:
1. Potential for price appreciation: Historically, each Bitcoin halving has been accompanied by substantial price increases in the months and years that follow. Although past performance is not indicative of future results, the predictable scarcity introduced by the halving event could serve as a catalyst for further price appreciation.
2. Diversification benefits: As mentioned earlier, adding cryptocurrencies like Bitcoin to an investment portfolio can diversify risk and provide potential uncorrelated returns. This diversification is particularly valuable during periods of economic uncertainty or market volatility.
3. Hedge against inflation: With central banks worldwide injecting vast amounts of money into the economy, concerns about inflation have risen. Some investors view cryptocurrencies, particularly Bitcoin, as a potential hedge against inflation due to its limited supply and deflationary nature.
4. Adoption and recognition: The growing acceptance and recognition of cryptocurrencies by major financial institutions, corporations, and governments have bolstered their credibility as an asset class. This increased acceptance may attract more mainstream investors, potentially driving up demand and prices.
Conclusion
Purchasing cryptocurrencies through mobile payment networks such as Google Pay and Apple Pay provides ambitious investors with a straightforward and accessible starting point. Users can confidently enter the world of digital investments if they understand the process and carefully select a reliable cryptocurrency exchange.
Remember to emphasize security by enabling multi-factor authentication and using secure storage solutions to protect your cryptocurrency assets. To make informed judgments and maximize the potential of your digital assets, it's critical to undertake rigorous research and stay updated about the ever-changing crypto market.
This article was written by FM Contributors at www.financemagnates.com.
Explore five emerging digital finance trends shaping the financial landscape in the digital age.
The Egyptian police are reported to have recently arrested 29 individuals associated with the Hoggpool cryptocurrency mining app scam. In addition to seizing 95 mobile phones and 3,367 SIM cards, the police said domestic and foreign currency valued at $194,000 was recovered during the arrests. According to a lawyer representing over 1,000 victims, as many [...]
The post Report: Egyptian Police Arrest 29 Alleged Masterminds of Crypto Mining App Scam appeared first on Crypto Breaking News.
<p>Digital wallets have grown in popularity in recent years, allowing consumers to use their smartphones to make payments, store loyalty cards, and even access identification and insurance cards. </p><p>But what are the benefits and drawbacks of ditching your physical wallet in favor of a digital one? In this article, we will look at the benefits and drawbacks of digital wallets. </p><p>Benefits of Digital Wallets</p><ul><li>Convenience: One of the most significant advantages of digital wallets is convenience. You no longer need to carry around a physical wallet containing multiple cards, cash, and coins if you use a digital wallet. Payments can be made with a few taps on your smartphone, making transactions faster and easier. </li><li>Security: Digital wallets offer greater security than traditional wallets. To protect your financial information, most digital wallet apps employ advanced security measures such as biometric authentication (e.g., fingerprint or face recognition), tokenization, and encryption. This makes it more difficult for thieves to steal your data or conduct unauthorized transactions. </li><li>Accessibility: A digital wallet allows you to store all of your payment and loyalty cards in one place. You no longer have to rummage through your physical wallet to find the right card, which is especially convenient when you're in a hurry. </li><li>Many digital wallet apps provide rewards and discounts for using their app to make purchases. Some apps, for example, may provide cashback or points that can be redeemed for gift cards or other incentives. For customers who make frequent purchases, this can be a significant benefit. </li></ul><p>Cons of Digital Wallets</p><p>Despite their increasing popularity, digital wallets are still not widely accepted by all merchants. Some retailers and businesses may not support digital payments, which can limit the usefulness of your digital wallet. This also includes the following drawbacks:</p><ul><li>Technical issues: Technical issues such as software bugs, network failures, or device malfunctions can have an impact on digital wallets. These issues can make it difficult to access your digital wallet or make payments, which can be aggravating. </li><li>Security concerns: While digital wallets are generally more secure than traditional wallets, they are not entirely immune to security risks. Hackers and cybercriminals can still gain access to your digital wallet or steal your personal and financial information. It is critical to exercise caution when using your digital wallet and to take precautions to safeguard your information. </li><li>Dependence on technology: Access to technology, such as smartphones and internet connectivity, is required for digital wallets. If you misplace your smartphone or do not have internet access, you may be unable to access your digital wallet or make payments. </li></ul><p>The Verdict</p><p>Digital wallets provide a number of advantages, including convenience, security, accessibility, and rewards. However, they also have some drawbacks, such as limited acceptance, technical difficulties, security concerns, and dependency on technology. </p><p>While digital wallets can be a useful tool for making payments and managing your financial information, it is critical to <a href="https://www.financemagnates.com/cryptocurrency/education-centre/crypto-wallet-security-and-best-practices/" target="_blank" rel="follow">exercise caution and safeguard your information</a> from security threats. Understanding the benefits and drawbacks of digital wallets allows you to make an informed decision about whether or not to abandon your physical wallet. </p><p>Tips for Safely Using Digital Wallets</p><p>If you decide to use a digital wallet, here are some pointers to keep in mind: </p><ul><li>Choose a reputable provider: Before choosing a digital wallet provider, research the company and read reviews to ensure that it is reputable and trustworthy. </li><li>Configure strong security features: To protect your financial information, use strong security features such as biometric authentication and PIN codes. </li><li>Avoid using public Wi-Fi: When using your digital wallet, avoid using public Wi-Fi, which cybercriminals can easily hack. Use a secure internet connection, such as your home or office Wi-Fi network, instead. </li><li>Monitor your account activity on a regular basis: Keep an eye on your account activity to ensure that there are no unauthorized transactions or suspicious activity. </li><li>Update your device and app: Update your device and digital wallet app on a regular basis to ensure you have the most recent security features and bug fixes. </li></ul><p>Risks of Digital Wallets</p><p>Digital wallets are not without their risks. The uncertainty and potential for abuse is one of the biggest concerns. </p><p>Digital wallet providers may be tempted to collect more data than they need or even sell your information without your knowledge or consent. This could lead to identity theft and financial fraud, as well as other problems that come with having no consumer protection in place.</p><p>Another risk is that digital wallets can be hacked by cybercriminals who gain access to your account information through phishing scams or other means of deception. </p><p>If you're using a mobile app for payments or storing sensitive data like passwords on your phone (which we don't recommend), then there's always a chance that someone could steal it from you or even just break into the app itself through malware installed on another device connected via Bluetooth or Wi-Fi.</p><p>Regulatory risks of digital wallets</p><p>Another major concern is regulatory risk: if you use your bank account or credit card information to make purchases online, and especially if you're doing so outside of the U.S, you could run into trouble if regulations change, or laws are introduced that affect how these transactions are handled. </p><p>For example, if new legislation is passed which requires all individual citizens who make purchases from foreign websites or companies with foreign servers to pay taxes on those purchases. then using your debit card could become much more complicated than it already is today, and potentially costlier. </p><p>Conclusion</p><p>Digital wallets have the potential to change the way we make payments and manage our finances. They provide convenience, security, accessibility, and rewards, making them appealing to many consumers. </p><p>However, they also have some drawbacks, such as limited acceptance, technical difficulties, security concerns, and dependency on technology. You can make an informed decision about whether or not to use a digital wallet by understanding the pros and cons of them and taking precautions to use them safely. </p><p>Finally, the decision is yours, and it is based on your needs and preferences.</p> This article was written by Finance Magnates Staff at www.financemagnates.com.
Market uncertainty calls for an opportunity to take advantage of disruptive innovation which has historically "gained share during turbulent times," says ARK Invest CEO.
ECBs' vision of the digital euro puts banks squarely in control of users' accounts.
Crypto lender BlockFi has asked a U.S. Bankruptcy Court for the authority to return the crypto held in BlockFi Wallets to users.
The bank requires the wallet to execute basic features such as transacting value and requesting payments and set its budget at nearly $255,000.
The Securities Commission of The Bahamas said the continued hacking attempts on FTX prove it made the right call to "secure" FTX's digital assets.
These cards let users spend or earn crypto in stores or online, and also offer various benefits and unique features.
Continue reading Top 12 Crypto Debit Cards to Consider in 2022 at DailyCoin.com.
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