Day: November 25, 2016

Here Are Four of The Best Bitcoin Deals in Town

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Thanksgiving is over but the 2017 holiday season is just starting out with the usual flurry of holiday shopping activity. Consumers will be scouring the Internet and Brick and Mortar stores today in search of the best Black Friday deals. Next week, there’ll be cyber Monday deals and the sales will continue until the end of the month.

Bitcoin lovers might feel left out because only a handful of stores accept Bitcoins for shopping. However, you can still shop with Bitcoin and find great deals during this holiday season. This post provides insight into four of the best Bitcoin deals available.

Opendime

opendimeOpendime is offering 15% off its hardware wallet, which it proudly calls Bitcoin Stick. The hardware wallet is a small USB stick that doubles as a hardware wallet. You can use Opendime to store your Bitcoin as a wallet, you can spend Bitcoin with Opendime and you can check your Bitcoin balance by just plugging the Bitcoin Stick into a computer.

Opendime prides itself on compatibility with fundamental Bitcoin features. It provides a physical representation of Bitcoin because you can simply pass it along without miner fees or confirmation delays. The firm says, “Opendime is a small USB stick that allows you to spend Bitcoin like a dollar bill. Pass it along multiple times. Connect to any USB to check balance. Unseal anytime to spend online. Trust no one.”

Crypto Jeweler

Crypto Jeweler is offering 25% to 50% discounts on its products and there’s another 25% discount on its holiday collection. Crypto Jeweler says, “you can buy quality silver, gold and diamond jewelry using traditional payment methods or through the power of peer-to-peer crypto currencies” such as Bitcoin.

crypto-jewleller

Founded in 2014, Crypto Jeweler is the first digital currency jewelry store in the world. Crypto Jeweler provides price quotes on its jewelries in both BTC and fiat currencies. Hence, you’ll know how much you are about to pay for any piece of jewelry per time. Some of the perks of shopping for jewelry on Crypto Jeweler include money back guarantee, authentic products, free and convenient shipping, and a special emphasis on security.

Ledger

Ledger is also offering a 21% discount on all its products including Ledger Nano and Ledger Nano S. Ledger is a cryptocurrency startup that makes and sells hardware wallet for storing Bitcoin and for making secured digital payments with Bitcoin. The Ledger Nano S works with both Bitcoin and the Ethereum cryptocurrency. Ledger’s cyptocurrency hardware wallets connect to computers via USB and it has a secure OLED display on which you can double check and confirm your transactions.

ledger-nano-s

Ledger boasts of the latest generation hardware in its cryptocurrency wallets. The firm says “you need to protect your confidential data and the access to your funds. With Ledger Nano S, secrets like private keys are never exposed: sensitive operations are isolated inside your hardware wallet within a state-of-the-art Secure Element, locked by a PIN code. Transactions can’t get tampered with; they are physically verified on the embedded screen with a simple press on a button.”

Amazon

As strange and unbelievable as it might sound, you can actually shop with Bitcoin on Amazon. Amazon has the biggest, most diverse, and most comprehensive Black Friday deals in town. Amazon started offering its deals in the first week of the month and the deals will continue until the last day of the month. Purse.io and iPayYou are two great products that you use for shopping on Amazon with Bitcoin.

Another great point is that Purse gives you an extra 15% discount in addition to the discounts that Amazon already offers. iPayYou considers itself the world’s easiest, safest, and most useful Bitcoin wallet. Using iPayYou’s Amazon Direct you can access all the great deals on Amazon and pay with Bitcoin this holiday season.

Japan Firm Shows Love to Bitcoin With Insurance for Bitcoin Exchanges

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It is no longer news that Japan is one of the most conducive countries for Bitcoin operations. Bitcoin is already recognized as legal tender on par with the Yen in terms of acceptability. Of course, Japan used to be home the world’s biggest Bitcoin exchange, the now defunct Mt. Gox. In October, Japan decided to curb sales tax on Bitcoin purchases as part of efforts to boost the use of the cryptocurrency in the country.

The Nikkei Asian Review reported that the Japanese Financial Ministry and the country’s Financial Agency are in talks to end the 8% consumption tax rate. Now, there’s another piece of good news for Bitcoin coming out of Japan that will gladden the heart of Bitcoin investors. The Nikkei Asian Review reports that Tokyo-based insurance firm Mitsui Sumitomo Insurance is developing an insurance product that will cover damages and losses at Bitcoin exchanges.

Here’s what we know about the new insurance coverage for Bitcoin exchanges

Mitsui Sumitomo Insurance is reportedly working with bitFlyer to develop an insurance product for Bitcoin exchanges. The insurance premium payable will vary from one exchange to the other but actuarians forecast that the premiums will range between several hundred thousand Yens to several million Yens.

One of the great perks of having insurance coverage for Bitcoin exchanges is that it would ease anxiety among Bitcoin owners that their precious crytocurrency could be lost overnight in an hack. Security experts observe that a single successful cyberattack on a Bitcoin exchange could wipe out billion of yen in Bitcoin. Most small exchanges don’t have enough resources to create a security system that might keep the bad guys out and even the best security defenses might still succumb to the efforts of a determined hacker.

Bitcoin exchanges can now enjoy insurance coverage

In the last couple of years, the Bitcoin industry has suffered setbacks in the form of data breaches, hacks, and stolen Bitcoin at exchanges. If you lost money in the last couple of hacks targeted at Bitcoin exchanges, you might want to relax because the trouble days are over. According to the report, the Japanese insurance firm will provide coverage against damage and loss to Bitcoin exchanges for 10 million yen to 1 billion yen, which is between $88,000 and $8.8 million.

Another great feature of the insurance coverage is that it protects Bitcoin owners in the event of losses due to internal issues. Bitcoin exchange might make dumb business moves or its workers might perpetrate fraud but insurers are not usually willing to cover losses that happen because of internal issues. For instance, in 2015 BItpay suffered the theft of 5,000 Bitcoins during a phishing attack. Its insurer has refused to cover the losses which is running under a million dollars.

Mitsui Sumitomo Insurance has also revealed that its insurance policy for Bitcoin exchanges will also cover other costs that might accrue after an incident. For instance, the insurer will bear the costs of reaching out to customers in the event of a data breach; the insurer will also settle damage suits that might be filed against the exchange in the event of theft, losses, hacks, or data breaches.

Bitcoin Exchanges Now Get Insured

Blockchain announces 10 Millionth Bitcoin Wallet, Unveils new features

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The surprise victory of Donald Trump in the just concluded U.S. elections is one of the biggest Black Swan events of 2016. In fact, it would be hard to choose the event that is most likely to change the face of the world between the Brexit vote and the emergence of Trump as president-elect of the United States. However, investors are seeking refuge in safe-haven assets and alternative assets in order to protect themselves from the uncertainties that might be unleashed on the global scene.

Soon after the U.S elections, Peter Smith, CEO of Blockchain revealed that there’s a marked uptrend in the number of people embracing Bitcoin since Trump emerged as president. Blockchain is a London-based provider of Bitcoin wallet services; hence, Smith has ringside seats to the ebb and flow of interest in Bitcoin. Peter observed that “We’re setting a new record pretty much every day since the election in terms of activity on the platform.

Blockchain opens its 10 millionth Bitcoin wallet

blockchain-logoBreaking news out of the Bitcoin industry reveals that Blockchain has opened it 10 millionth digital wallet for Bitcoin. The news comes barely two weeks after Bitcoin CEO, Peter Smith revealed the growing interest in the cryptocurrency after Trump’s surprise victory. He noted that people are using Bitcoin as a hedge against economic instability against the backdrop a Brexit vote in Europe and a Trump presidency in the U.S.

In an emailed statement, Smith observed that “Hitting this milestone (ten millionth wallet) at this particular moment isn’t a coincidence. In the wake of the Brexit vote, the US Presidential election and a weakening Yuan, we have seen unprecedented levels of activity and transaction on our platform, which further suggests that people are embracing the need for a more globally accessible currency system, and one that does not exclude over one-third of the world’s population.

Bitcoin stakeholders won’t be in the least bit surprised that Blockchain is recording such a massive uptrend in its signups. Blockchain provides Bitcoin owners with software that they can download to their computer. The software serves as a digital wallet for storing Bitcoin. The best part is that the Bitcoin your Blockchain wallet is localized on your computer. Blockchain has also revealed that it processes about 150,000 Bitcoin transactions per day.

Buy and sell Bitcoin directly from your digital wallet

Blockchain is not resting its oars on the provision of digital wallets for holding Bitcoin, the firm has recently announced a new feature that lets people buy and sell Bitcoin directly from their wallets. In the years past, you can only deposit your Bitcoin with online exchanges but you can’t engage directly in buying or selling of the cryptocurrency.

Smith notes that the most interesting fact about the Bitcoin wallet that Blockchain provides is the ease and speed of transactions. In his words,

“what’s more exciting from an industry perspective is at the moment if you buy Bitcoin, it’s kind of like a 2 to 3 day experience. You buy them and 2-5 days later you actually get them. It’s a little weird. What’s really exciting about this product if you get the bitcoin instantly, you pay for them and about 5-6 minutes later you get them.”

Blockchain’s CEO from two years ago

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