US Dollar to HK Dollar Exchange Rate - USD to HKD Currency ...
XE: XBT / HKD Currency Chart. Bitcoin to Hong Kong Dollar ...
How To Use The Bitcoin Calculator App
https://preview.redd.it/d23or4ml5nu51.png?width=800&format=png&auto=webp&s=e27f4858fc4f06d17875023c5a3f87717104bcae Visit us at https://bitcoincalculator.org Use this bitcoin calculator to find out exactly how much your bitcoin is worth in any of the supported global currencies, using accurate, up-to-date exchange rates. Get real-time and historical trends in the BTC value for your selected currency and easily perform any of the following currency conversions: - BTC to USD - BTC to AUD - BTC to BRL - BTC to CAD - BTC to CHF - BTC to CLP - BTC to CNY - BTC to DKK - BTC to EUR - BTC to GBP - BTC to HKD - BTC to INR - BTC to ISK - BTC to JPY - BTC to KRW - BTC to NZD - BTC to PLN - BTC to RUB - BTC to SEK - BTC to THB - BTC to TRY - BTC to TWD Sign up to any of our recommended bitcoin exchanges to start buying and selling BTC today. Features: - Backed by real-time price data and interactive charts - Total circulating BTC - Market capitalization - Daily trade volume - Easy access to your favorite exchanges
HUOBI – THE EXCHANGE BUILT FOR THE FUTURE - A HONEST REVIEW BY AN USER
HUOBI – THE EXCHANGE BUILT FOR THE FUTURE A HONEST REVIEW BY AN USER https://preview.redd.it/3il28cidztt41.png?width=313&format=png&auto=webp&s=b7c7ccafde202532977305d9be044ba9c7f88e42 Leon Li founded Huobi in 2013, a former computer engineer at Oracle. Huobi Global is a digital asset and crypto currency exchange headquartered in Singapore. Huobi also has local exchanges in South Korea, Japan, and through its strategic partner, the United States. The Huobi Group, the parent company of Huobi Global, has received venture capital finance from prominent Beijing based ZhenFund and American VC firm Sequoia Capital. The Huobi Global exchange serves traders in 130 countries. Through Huobi Global, traders can access almost 200 crypto and stable coin assets. Huobi users can download trading clients on both mobile and desktop devices. Huobi has traded over US$1.2 trillion in digital assets, and at one time it was the world’s leading exchange by volume, capturing 50% of all global trading volume. In terms of security, Huobi has adopted a decentralized exchange structure, which helps to resist DDOS attacks. However, Huobi has implemented the ‘Huobi Security Reserve, in which Huobi has set aside 20,000 BTC reserved for users who have lost funds either due to hacks, or exchange failures. Ease of use The UI is clean, user-friendly and perfectly designed with all the basic requirements for a crypto-trader. The charting software is provided by Tradingview, which is exactly what you want. https://preview.redd.it/nm2fr51mztt41.png?width=602&format=png&auto=webp&s=16c406a4eec33a1c28d2bcb5330bee6b043fc359 Huobi OTC Huobi’s OTC exchange is a good initiative. The Huobi OTC exchange allows users to trade funds peer-to-peer which doesn’t affect the market price of the underlying asset. The OTC trading-desk, with transfer options like bank-transfers, PayPal, WU, Paytm, UPI, IMPS, Alipay & many others, is an easy to use payment gateway. With a secure exchange to diversify your investment, right next door, too with effective list of Buy and Sell options for BTC, ETH, USDT and EOS coins. https://preview.redd.it/66c2zr2oztt41.png?width=602&format=png&auto=webp&s=41899be5c02791f9f5323b957ad13d092b5275f7 Huobi Lite Huobi Lite App provides a convenient channel for everyone to buy cryptocurrencies at the best prices. Tailor-made for beginners, traders, and users. We can download the App directly from the respective iOS Store or Google Play Store. Alternatively, we may access via the link: https://lite.huobi.com/download https://preview.redd.it/tw8p8cmpztt41.png?width=260&format=png&auto=webp&s=88f4d4d45b8b287d452f02547adfd187f2b09977 On Huobi Lite, you can buy Bitcoin with your local currencies, credit card, or exchange cryptocurrencies tokens, with zero fees at competitive prices. Huobi Lite currently supports MYR / HKD / VND / USD (Credit Card deposit only), with more to come in the future. Huobi Derivative Market (Huobi DM) Margin Trading Huobi Global launched Huobi Derivative Market (Huobi DM) exchange to selected countries. It provides margin trading, with very low daily loan interest rates of 0.1%. Margin Trading allows users to increase their investment exposure given a limited base principal to enjoy multiple returns. 3-Steps taken in Margin Trading:
Request for Loan
Trade on Margin (Long/Short)
Repay Margin Loan and Interest
With the introduction of Cross Margin on Huobi, users will have to explicitly input the respective margin type before executing the above 3 steps. Balances on the Cross Margin balance does not show on the Isolated Margin balance. Huobi Futures Huobi Futures is a kind of digital currency derivatives. Users can make a profit from the rising/falling of digital currencies prices by going long or selling short based on their own judgment. The Huobi Futures Contract adopts spread delivery. When the contract expires, all open positions will be closed at the index-based last-hour arithmetic average price, instead of physical delivery. BTC/ETH/EOS/LTC/XRP/BCH/TRX/BSV/ETC Contracts are available on Huobi DM. Contracts are priced in USD, with corresponding digital currency (BTC/ETH/EOS/LTC/XRP/BCH/TRX respectively) as margin to open positions, and PnL is also settled in corresponding digital currency. Weekly, bi-weekly and quarterly contracts are available in Huobi DM. Weekly contracts will be settled on imminent Friday; Bi-weekly contracts will be settled on next Friday; Quarterly contracts will be settled on the last Friday of March, June, September and December. Choices of leverage: 1x, 5x, 10x, 20x Huobi Perpetual Swap Huobi introduced Perpetual Swaps on March 27, 2020 (GMT+8). Huobi Perpetual swap is a kind of digital currency derivatives. Users can make a profit from the rising/falling of digital currencies prices by going long or selling short based on their own judgment. Similar to a margin spot market, its price is close to the price of the underlying reference index. The main mechanism for anchoring spot prices is the cost of funds. Perpetual swap have no delivery date. Users can always hold it. Perpetual swap are settled every 8 hours. After each settlement, the realized profit/loss and unrealized profits/losses are transferred to the user account balance. Partial Liquidation Huobi Futures adopted partial liquidation to help position holders reduce liquidation risk. Users with large positions and high leverage bear high risk. Huobi Futures releases partial liquidation with the aim to lower possible losses due to high price volatility thus giving users better trading experience. Under partial liquidation mechanism, when liquidation is triggered, instead of liquidating all positions at once, the system reduces positions gradually till a grade whose margin ratio is great than 0. Full liquidation will only occur when the margin ratio of tier 1 upper limit net position still fails to be great than 0. Trading Fees The Huobi exchange has a fair trading fee structure. Every asset traded via Huobi Global is subject to a 0.2% trade fee, for both market makers and takers. Further, Huobi Global has introduced a tiered fee system which offers competitively lower fees for high volume traders. VIP membership gives access to various fee reductions and other benefits. Huobi Prime Huobi Prime, the Launchpad platform which we can call Direct Premium Offering (DPO), does share some similarities with initial exchange offerings (IEO) like Binance Launchpad, but it is unique as it is not a fundraising platform, and any coins purchased on the platform are immediately deposited into the users’ wallets and tradable on Huobi Global. Huobi Prime offers its users early access to the coins of premium projects, which can be bought using its native crypto currency, the Huobi Token. To avoid dumping, Huobi has implemented an innovative idea of a period of tiered price limits. Huobi FastTrack Huobit FastTrack, rebranded from Huobi Prime Lite, is a new listing model. Wherein, all participants will have a direct say in what projects are listed on Huobi Global and when. In addition, winning voters will get access to quality tokens at below market rates. The program also provides much needed exposure and a straightforward listing process. Huobi Wallet https://preview.redd.it/6iux5zotztt41.png?width=602&format=png&auto=webp&s=fef6f6d6813ec82a70df28b160fe18ba2237daba Huobi Wallet is the official mobile wallet of Huobi Group, a leading global digital asset financial service provider. It is a multi-chain asset management tool that provides native support for various types of blockchains and all of the ERC20 tokens. So far Huobi Wallet supports BTC, BCH, LTC, ETH, ETC, USDT and all ERC20 tokens. Huobi wallet is the first wallet to expand support to cover seven stablecoins including, Paxos Standard Token (PAX), TrueUSD (TUSD), USD Coin (USDC), Gemini Dollar (GUSD), Dai (DAI), Stasis EURS (EURS), and Tether (USDT). Huobi Wallet is built based on the core principle of security-first. The wallet gives back its users, complete control of their private keys. In simple terms, You own your assets. The wallet is backed up with mnemonics, so in future when you want to import your wallet, it’s just simple few clicks. Currently, the wallet is compatible with both iOS and Android devices and you can download both from here (www.huobiwallet.com/en) Huobi Chain Huobi launched Huobi Chain’s Testnet (“the Testnet”) on February 29th 2020 (GMT+8). Huobi Chain is China’s autonomous cum compliant-ready blockchain platform, and is committed to providing a global, blockchain-based, digital asset infrastructure. Huobi Chain is committed to providing a high-performance, blockchain-based, global digital asset infrastructure. Once the Mainnet goes live, Huobi Chain will announce HT- related events: e.g. pledge HT to be a Super Node, etc. HT Lock & Mine (Huobi Pool) Huobi launched HT Lock and Mine operations on 25th July 2019 (GMT+8). Users who lock HT tokens receive daily HPT rewards. Specific reward quantity will depend on lock option period selected, quantity locked and Huobi Pool’ s mining hash power and daily float. DPOS Rewards: All Huobi Global users with more than 1,000HPT holdings in their HBG account will receive DPOS mining rewards. Currently, token reward received under DPOS mining include EOS, TRX, CMT, ONG, IOST, ATOM, IRIS, LAMB。 Huobi Support Users of the Huobi exchange can access 24/7 live chat and Huobi help center. Those facing issues can also open a support ticket to have their issue resolved by an expert representative immediately. The Huobi Group has a very active YouTube channel, featuring Huobi Talk, where it posts user tutorials, detailed guides, and crypto currency information for traders. What I like the most about Huobi
An established platform that’s been operating since 2013, which is a long time in the crypto world.
Highly secured with decentralized exchange structure, which helps to resist DDOS attacks. Huobi has never suffered a large hack.
Huobi Security Reserve of 20000 BTC to compensate users’ loss of funds.
Dedicated, fast and 24/7 customer support.
Regulated in major jurisdictions.
User interface is very smooth and clean.
Over 230 crypto assets are available.
User education program is good initiative.
Separate trading desk for institution and firm size users.
Very transparent about its operations, listings and projects.
Huobi Wallet is secured and very easy to operate.
Huobi mobile app is smooth and very easy to use.
Has taken serious steps towards avoiding wash trading.
Impressive array of trading pairs.
Has given more important on community participation, like voting for listing, mining pool, Huobi Knights program etc.
I like Huobi Prime because of following reasons: -
(a) Purchased tokens are immediately deposited into user’s accounts, (b) As projects launch exclusively through Huobi Prime from day one, all users get assets at the best price. (c) Tiered price limits on the platform protect both investors and projects from immediate dump.
Huobi screen projects and launches which are only the best. I don’t have to worry about poor or scammy projects.
Burning of HT is a great move and it would benefit long term holders.
Binance is good. But not all of their partners are. Here's my experience with Koinal_io. TL;DR - Koinal_io scammed me 2% worth of money of the trade. I recommend staying away from it. I made a Bitcoin purchase on Koinal_io. The order clearly states the words "You Pay: XXXX USD" with all fee included. Koinal_io claims they charge in USD and all the exchange fee if any are charged by the bank (Spoiler: It is not true). Image of their helpdesk: https://imgur.com/a/EQRHUPv . I selected a HKD Visa credit card issued by a big name multinational US bank. The card has no fee on currency exchange or quasi-cash transaction. I used the same card with another crypto currency purchase and have no issue at all. At the moment I finished my purchase, I found that they charged me in HKD instead of USD. The amount is 2% higher than the Visa rate (i.e. there are a fiat currency exchange fee included). This forced me to pay the HKD to USD exchange fee charge by them. Before the Bitcoin transaction went into the mempool, I immediately asked the support to cancel the transaction. But they ignored and refused. After receiving the Bitcoin, I submitted another ticket (ticket number 5505) requesting them to refund the 2%. I made multiple requests but they refused all. They lied about the transaction was charged in USD and the 2% was charged by my bank. They tried everything to get away from the responsibilities of their scam or their mistake. My credit card is issued by a creditable bank. They confirmed me multiple times that Koinal_io charged me in HKD (2% higher) and the bank charged nothing. Koinal_io violates Visa rules on dynamic currency conversion and the bank recommended me to file a transaction dispute. I filed the dispute and successfully get the 2% refunded. A big thank to my bank. Avoid Koinal_io at all cost so that you are free from the difficulties I faced and Koinal_io's lies.
FREE: Add a ETH to USD exchange rate calculator to your site
Hey guys, A friend and I have been working on a free embedable crypto calculator. It contains over 2,000 digital assets including ETH, bitcoin, ERC20s, Stellar assets etc. The exchange rate can be calculated into 5 different fiat currencies including USD, EUR, GBP, HKD, and JPY. You can add it to your website within a few minutes and I created some educational videos showing you how for your CMS: https://www.youtube.com/channel/UCFUz39K6LLxxRYGcDSaO3CA I think this could be a really helpful little tool for webmasters to improve user experience for free. Would really appreciate your feedback. Thanks, Chris - Coinponent https://coinponent.com/calculators/eth-to-usd-calculator
Tool: Add a free ADA exchange rate calculator to your website
Hey guys, A friend and I have been working on a free embedable cryptocurrency calculator. It contains over 2,000 digital assets including ADA, bitcoin, Stellar assets etc. The exchange rate can be calculated into 5 different fiat currencies including USD, EUR, GBP, HKD, and JPY. You can add it to your website within a few minutes and I created some educational videos showing you how for your CMS: https://www.youtube.com/channel/UCFUz39K6LLxxRYGcDSaO3CA I think this could be a really helpful little tool for webmasters to improve user experience for free. Would really appreciate your feedback. Thanks, Chris - Coinponent https://coinponent.com/
FREE: Add a PIVX to USD exchange rate calculator to your site
Hey guys, A friend and I have been working on a free embedable crypto calculator. It contains over 2,000 digital assets including PIVX, ETH, bitcoin, ERC20s, Stellar assets etc. The exchange rate can be calculated into 5 different fiat currencies including USD, EUR, GBP, HKD, and JPY. You can add it to your website within a few minutes and I created some educational videos showing you how for your CMS: https://www.youtube.com/channel/UCFUz39K6LLxxRYGcDSaO3CA I think this could be a really helpful little tool for webmasters to improve user experience for free. Would really appreciate your feedback. Thanks, Chris - Coinponent https://coinponent.com/calculators/pivx-to-usd-calculator
I've been working on a bot for crypto subs like /r/bitcoin for a few days now. Say hello to crypto_bot!
Hey guys, I've been working on crypto_bot for some time now. It provides a bunch of features that I hope will enhance your experience on /bitcoin (and any other subreddit). You can call it by mentioning it in a comment. I started working on this a few days ago. I'm constantly adding new features and will update this post when I do, but if you're interested I'll post all updates and some tips at /crypto_bot. Please either comment here, message me, or post there if you'd like to report a bug, request a feature, or offer feedback. There's also one hidden command :) You can call multiple commands in one comment. Here's a description of the commands you can use:
Responds with the USD price of one bitcoin from an average of six of the top bitcoin exchanges (BTC-E, Bitstamp, Bitfinex, Coinbase, Kraken, Cryptsy).
Responds with the USD price of one bitcoin at seven exchanges (all of the ones listed above, plus LocalBitcoins). Also lists the average at the bottom.
Responds with the USD price of one bitcoin from [exchange] (any of the seven listed above).
Responds with the USD price of one litecoin, or the price of 1 doge and 1,000 doge.
crypto_bot litecoin|ltc [exchange]
Responds with the USD price of one litecoin from BTC-E, Bitfinex, Kraken, or Cryptsy.
Responds with the price of one bitcoin in the specified currency. Available currencies (symbols): JPY, CNY, SGD, HKD, CAD, NZD, AUD, CLP, GBP, DKK, SEK, ISK, CHF, BRL, EUR, RUB, PLN, THB, KRW, TWD.
crypto_bot [about|info] [arg]
Responds with a short description about [arg], as well as a link to an external site (Wikipedia, bitcoin.it, and some others) for more information. You can list multiple arguments and get a description for each. Available arguments: bitcoin, block chain, transaction, address, genesis, satoshi, mining, confirmation, coinbase, gox, cold wallet, hot wallet.
Responds with calculations and information about how a miner would do with the above data (mining calculator). The only required field is mining speed. Order of the arguments does not matter. Everything other than hashrate defaults to the following if not given: w (watts): 0, kwh ($kilowatt cost/hour): 0, difficulty: current network difficulty, hc$ (hardware cost): $0, $: current bitcoin price in usd (according to Coinbase), % (pool fee): 0. The calculator does not account for nor allow for input of the increase/decrease of difficulty over time, though I may add this feature soon. Working hashing speeds: h/s, kh/s, mh/s, gh/s, th/s, ph/s. Example usage: "crypto_bot calc 30th/s 10w .12kwh hc$55 1.5%" (to make it easier to remember, th/s can also be inputted as ths). This calls the bot with a hashrate of 30 th/s, electricity usage of 10w, a cost of $.12 kWh, a hardware cost of $55, and a pool fee of 1.5%.
crypto_bot number of btc <$amount to convert> [bp$bitcoin price]
Responds with the number of bitcoins you could buy with <$amount to convert>. If the comment specifies a [bp$bitcoin price], it calculates it with that exchange rate. Otherwise, it uses the rate from Coinbase. Example usage: "crypto_bot $419.29 bp$180.32" This calculates how many bitcoins you can buy if you have $419.29 and the bitcoin exchange rate is $180.32.
Signs a message in the bitcoin block chain in a transaction using OP_RETURN. The message must be less than 40 characters. Example usage: "SignMessage! "Post messages in the block chain!"" I hope you find this bot useful! Again, if you have any questions or comments, please either comment on this post, message me, or post on /crypto_bot. Update 1 (June 24, 2015, 17:35): The bot now responds with information if you post a link to a block, transaction, or address on Blockchain.info in a comment, even if you don't call it. For example, if I wrote "https://blockchain.info/block/0000000000000000126448be07fb1f82af19fbbf07dd7e07ebcd08d42c2660cb" in a comment, it would respond with information about block #362,377. Update 2 (July 10, 2015, 1:59): The bot now has two additional commands: "unconfirmed transactions" (or "unconfirmed tx") and "explain transaction delay" (or "explain tx delay"). The first command responds with the number of unconfirmed transactions, and the second explains why transactions might take extra time to confirm. Update 3 (August 24, 2015, 1:34): The bot now responds in a better way than before when transaction ids or addresses are posted. Before, it only responded when the transaction id or address was used in a link to Blockchain.info. Now the bot will respond whenever a transaction id or address is posted at all; a link to Blockchain.info is no longer necessary. Update 4 (August 27, 2015, 3:00): The bot can now sign messages in the Bitcoin block chain using OP_RETURN.
FREE: Add a BTS to USD exchange rate calculator to your site
Hey guys, A friend and I have been working on a free embedable crypto calculator. It contains over 2,000 digital assets including BTS, ETH, bitcoin, ERC20s, Stellar assets etc. The exchange rate can be calculated into 5 different fiat currencies including USD, EUR, GBP, HKD, and JPY. You can add it to your website within a few minutes and I created some educational videos showing you how for your CMS: https://www.youtube.com/channel/UCFUz39K6LLxxRYGcDSaO3CA I think this could be a really helpful little tool for webmasters to improve user experience for free. Would really appreciate your feedback. Thanks, Chris - Coinponent https://coinponent.com/calculators/bts-to-usd-calculator
FREE: Add a BCH to USD exchange rate calculator to your site
Hey guys, A friend and I have been working on a free embedable crypto calculator. It contains over 2,000 digital assets including BCH, ETH, bitcoin, ERC20s, Stellar assets etc. The exchange rate can be calculated into 5 different fiat currencies including USD, EUR, GBP, HKD, and JPY. You can add it to your website within a few minutes and I created some educational videos showing you how for your CMS: https://www.youtube.com/channel/UCFUz39K6LLxxRYGcDSaO3CA I think this could be a really helpful little tool for webmasters to improve user experience for free. Would really appreciate your feedback. Thanks, Chris - Coinponent https://coinponent.com/calculators/bch-to-usd-calculator
FREE: Add a LTC to USD exchange rate calculator to your site
Hey guys, A friend and I have been working on a free embedable crypto calculator. It contains over 2,000 digital assets including LTC, ETH, bitcoin, ERC20s, Stellar assets etc. The exchange rate can be calculated into 5 different fiat currencies including USD, EUR, GBP, HKD, and JPY. You can add it to your website within a few minutes and I created some educational videos showing you how for your CMS: https://www.youtube.com/channel/UCFUz39K6LLxxRYGcDSaO3CA I think this could be a really helpful little tool for webmasters to improve user experience for free. Would really appreciate your feedback. Thanks, Chris - Coinponent https://coinponent.com/calculators/ltc-to-usd-calculator
Tool: Add a free BTC exchange rate calculator to your website
Hey guys, A friend and I have been working on a free embedable cryptocurrency calculator. It contains over 2,000 digital assets including Bitcoin, ERC20, Stellar assets etc. The exchange rate can be calculated into 5 different fiat currencies including USD, EUR, GBP, HKD, and JPY. You can add it to your website within a few minutes and I created some educational videos showing you how for your CMS: https://www.youtube.com/channel/UCFUz39K6LLxxRYGcDSaO3CA I think this could be a really helpful little tool for webmasters to improve user experience for free. Would really appreciate your feedback. Thanks, Chris - Coinponent https://coinponent.com/
TOOL: Add a free ETH to USD exchange rate calculator to your site
Hey guys, A friend and I have been working on a free embedable crypto calculator. It contains over 2,000 digital assets including ETH, bitcoin, ERC20s, Stellar assets etc. The exchange rate can be calculated into 5 different fiat currencies including USD, EUR, GBP, HKD, and JPY. You can add it to your website within a few minutes and I created some educational videos showing you how for your CMS: https://www.youtube.com/channel/UCFUz39K6LLxxRYGcDSaO3CA I think this could be a really helpful little tool for webmasters to improve user experience for free. Would really appreciate your feedback. Thanks, Chris - Coinponent https://coinponent.com/
Interesting email from an exchange about banking developments.
Bitcoin and Money Services Businesses (MSB) find it very difficult to open and maintain bank accounts. The global hysteria over possible venues for money laundering (unless of course you are HSBC) has caused banks globally to curtail their support of MSB clients. Several exchanges figured out that Taiwanese banks would bank them with minimal issues. The two most well known exchanges utilising Taiwanese bank accounts are Bitfinex and OKCoin International. The American perception of Taiwanese banks lately is that of financial institutions with lax KYC / AML procedures. Read the following excerpt from a Reuters article about problems with Taiwan’s Mega Financial last October. It is the second bank branch of the state-controlled firm to run afoul of U.S. financial authorities, after its New York branch was fined $180 million for lax compliance and anti-money laundering violations in August. Mega Financial, which has close ties to Taiwan's government, has been under scrutiny since about 200 of its customers were named in the so-called Panama Papers, a massive leak of documents from a Panamanian law firm that put the spotlight on the shadowy world of offshore companies used to avoid tax. In order for Taiwanese banks to maintain their banking relationships in America, they must update their KYC / AML procedures for MSB clients. Unfortunately a large swath of MSB clients will be deemed too expensive to bank, and will be jettisoned. Compliance is extremely expensive. Banks waste billions of USD a year on compliance and compliance related technology. It only serves to further protect incumbent financial institutions at the expense of small and innovative upstarts. Bitfinex, OKCoin, and possibly other Bitcoin exchanges are affected. It may be that they have been told their accounts will not longer by active by a certain date. They are now scrambling for alternatives. Bitfinex officially announced that both USD deposits and withdrawals are halted. OKCoin International has posted a notice that all USD deposits will be refused by their banking partner in Taiwan. Many old-timers know that the suspension of fiat deposits and withdrawals heralds tough times ahead for any Bitcoin exchange. To some traders, this feeling is all too familiar. Mt Gox's slow motion bankruptcy began in 2013 when their USD held in America was frozen. As users rushed for the exits, the Bitcoin thought to be held in custody was not there. In early 2014, Mt Gox shut its doors and filed for bankruptcy. While traders are right to be nervous, it is not a given that Bitfinex and or OKCoin will be unable to operate. Yet, careful traders will take action. This post will examine how to get your money off the platform, and for those risk seeking traders, arbitrage opportunities that will arise during this time of stress. Correspondent Banking The biggest hurdle to successfully operating a Bitcoin/Fiat exchange is obtaining and maintaining a bank account. The quality of the banking relationships held by the exchange is a large success determining factor. Most Taiwanese banks have branches throughout the Asia Pacific region. However, most do not have branches in the US. Ultimately that means that movement of USD between non-Taiwanese entities must pass through a correspondent bank in the US. The correspondent bank is fully licensed to do business inside America, and can clear USD. Without the assistance of a correspondent bank, exchanges’ Taiwanese banks cannot process USD deposits and or withdrawals for foreign entities. Given that the majority of Bitfinex and OKCoin’s customers are not Taiwanese, most if not all incoming and outgoing USD must be processed with the assistance of a correspondent bank. Wells Fargo, The Canary in the Coal Mine In late March, according to a lawsuit filed by Bitfinex, Wells Fargo ceased processing outgoing USD SWIFT wire transfers from Bitfinex’s Taiwanese bank accounts. Wells Fargo is the correspondent bank for the various banks Bitfinex uses in Taiwan. The lawsuit alleged that $180 million of USD was effectively frozen. This lawsuit is one of the only public windows the community received into the struggle between Taiwan banking institutions and their American correspondent banks. A similar situation may have occurred with OKCoin, but they did not choose to fight back through a public lawsuit. Bitfinex vs. Wells Fargo Lawsuit Get Me Outta Here Bitfinex and OKCoin USD IOU holders are rightfully concerned. All is not lost. There are still ways to remove funds from these platforms. The easiest way is for users to buy Bitcoin and withdraw it. Then they can sell that Bitcoin on another platform. As more users exit via this method, the price of Bitcoin rises on Bitfinex and OKCoin relative to other exchanges. Those exiting these exchanges are pushing up the price globally. Users can use altcoins such as Litecoin or Ether to exit as well. At the time of writing, the Bitfinex premium to buy alts with USD is similar to buying Bitcoins. Given the low liquidity in altcoins, this may not be cheaper. Bitfinex first indicated in a blog post, that users could withdraw funds via Swiss Francs (CHF) and Hong Kong Dollars (HKD). However a few days later, they announced that their bank refused to process any outgoing wires in any currency. The solution now put forward is to wash funds through their lawyer's trust account. They claim that as creditors of Bitfinex, users can withdraw via this method only once. Those lucky enough to have domestic Taiwanese bank accounts face no issues withdrawing any fiat currency. As of right now, OKCoin has not issued any announcements regarding the status of funds in their Taiwan bank accounts. Arbitrage Risk and profit seeking traders will be able to conduct arbitrage trades during this funding crunch. The trade I describe below is the most obvious. Buy Bitcoin outside of Bitfinex. Sell Bitcoin for USD on Bitfinex at a premium. Withdraw HKD to your bank account from Bitfinex. Wire the funds at your bank rate back into USD to a cheap Bitcoin/USD exchange. Rinse and repeat. The ability to execute this trade is predicated on the ability to withdraw HKD or another fiat currency easily and quickly from Bitfinex. Given the recent updates, this assumption is questionable. All MSBs globally face similar issues, it may be weeks if not months before Bitfinex, OKCoin, or any other affected exchange is able to establish banking relationships again. Due to the halt of Bitcoin withdrawals in China, XBT/CNY trades at a 15% discount to Bitstamp and GDAX. Therefore the premium on exchanges where fiat cannot be withdrawn, could easily reach a similar 15% premium. Bitcoin / HKD: Bitfinex and OKCoin’s Savior Days after filing, Bitfinex withdrew the lawsuit against Wells Fargo. Suing a correspondent bank in America may have been lights out for Bitfinex’s current and future banking relationships. To make matters worse, it may have attracted attention to other exchanges. If Wells Fargo is blocking Bitcoin exchanges, other banks should be thinking: should we block them too? For now, there is still some hope. For every HKD issued, the Hong Kong Monetary Authority backs it with an equivalent amount of USD. The Hong Kong Monetary Authority will conduct open market operations to maintain a peg between 7.75 to 7.80 USD. While the peg holds, HKD is a liquid proxy for USD. If Bitfinex and or OKCoin can launch a liquid XBT/HKD market, they can continue to effectively serve as the most liquid XBT/USD spot markets. Clearing HKD does not require funds to transit through the American banking system. Most of the world just wants to do business, and not worry about hypocritical moralising American politicians' inspired regulations. Given enough effort, time, and willingness to pay high fees, exchanges will find banking partners willing to process HKD wires. The on and off-ramps between digital currencies and fiat continue to cause significant friction. However, once traders squeeze through fiat gateways into the crypto universe, the trading opportunities are rich. If you desire a product to speculate on the value of Bitcoin without touching fiat, consider trading the BitMEX Bitcoin / USD Swap, XBTUSD. Strongman Bullies and Bitcoin Trump, Xi Jinping, Putin, and Erdogan: these four men are the embodiment of Strongman Bully leaders. Global trends indicate we will soon have more world leaders with similar mindsets. Over the past 30 years, throngs of Chinese, Russians, and Turks have become rich. The masses held their tongue, while the elite shamelessly lined their pockets. In China, the wealth amassed in coastal cities like Shanghai, Beijing, Shenzhen, and Guangzhou stands in stark contrast to the developing and rural interior. Similar disparities exist in the metro areas of Russia and Turkey. Xi, Putin, and Erdogan are all promising to restore the bargain with labour at the expense of capital. In previous decades, the masses have accepted disproportionally slow wage growth so long as their standard of living continued to increase. As global growth sputters, the bargain has become less tenable. The plebes are getting restless. The marginal effectiveness of printing money to generate GDP output is waning. To make matters worse, population growth is shrinking in end markets like America and Europe. In response, central banks are reducing asset purchases. The net result will be higher interest rates and less trade. All strongman bullies in all countries cannot be successful at the same time. Instead of trading for what they need, these leaders are likely to threaten to take what they need through war. A desperate leader can apply physical force to take resources, disrupt competing markets, and distract the local population from failed promises. During times of war, assessing financial counterparty risk becomes a key investment survival skill. Will a USD deposit held in a Russian bank be worth the same as one held in an American bank? Every asset that you own must be evaluated on the basis of two concerns: beating domestic inflation and movement friction. In times of war, we are very likely to see inflation in necessity goods and deflation in other goods. Where will the masses turn? Gold has value everywhere and is likely to triumph during these times. Recently, gold rallied when Trump authorised a missile strike against Syria, and when North Korea announced a potential nuclear missile test. Further rallies will come if global instability grows. Bitcoin fits into this dynamic. Despite all of the issues it faces, it has persevered for over 8 years and still has substantial global value. Consider that as a vote of confidence in its ability to serve as a safe haven asset for a small pool of global capital. Regardless of your political stance, the next 30 years will not be like the last. Highly intense regional conflicts are likely to flare up again. As desperate citizens look to store and transport wealth in the digital era, Bitcoin looks more attractive than ever.
source:https://steemit.com/bitshares/@bitspark/bitspark-detail-roadmap-2018 Welcome to Bitspark's official roadmap update. Following the Zephyr tokensale, we posted an initial roadmap here outlining some of our goals and timelines. Now we are following up with a more detailed roadmap and the reasoning behind the decisions we have made. In this roadmap the specificity we can go into will be Quarters, with estimated based on 2018.
Expected Outcome of the Zephyr Project:
A cash in, cash out remittance network enabling anyone anywhere in the world to send and receive money instantly via physical money transfer shops, for virtually free powered by the Bitshares network and supported by pegged Bitshares Smartcoins (MPAs) all incentivised by the Zephyr rewards system. Step 1: End of Q2 2018
Company rebranding completed
New landing page for Bitspark and ZEPH investor page live
New UX/UI design for platform
BETA Sendy mobile app live and available on Google Play Store.
Firstly, adding ZEPH to Spark (Spark is the product name for the Bitspark remittance platform) is not as simple as running a Bitshares node, adding a new currency in our system and letting people buy and sell orders on Spark. Bitspark is a remittance company, we have transactions and commitments for money transfer businesses already and we need to ensure anything we do is competitive to our existing Bitcoin based system and will not disrupt company operations for a smooth transition. If we switched everything to Bitshares tomorrow our payout partners who currently settle in bitcoin cannot easily settle the local fiat in Bitshares, therefore we would not be able to transact and the business would grind to a halt meaning no money transfers could take place until our partners at the other end make the switch. So it is imperative that there is a time period in which we make the transition, initially we said at the time of our tokensale the switch will take 12 months and that is still correct but in the meantime we are building a hybrid approach to ensure we can route transactions in both the old and new system at the same time. The Hybrid approach When a transactions comes in today in GBP in Spark, we convert to BTC and sell that BTC for fiat in the destination currency like IDR, HKD, VND etc. This happens instantly and because its bitcoin there is an active GBP/BTC as well as BTC/VND markets and deep liquidity through brokers. If this were executed on BitGBP today there is not enough liquidity there yet to support it so it wouldn’t be viable, eventually there will be and Spark will be the one bringing the liquidity. However right now we are building a system that we can easily switch order routing between either the old way (via BTC) or the new way (via Bitshares) depending on the size of the transaction and the means in which the partner in the destination wants to receive settlement. The idea here is to over time move the goalposts on what will require a switch or not, as we build up more liquidity in Bitshares (this happens everytime a remit happens essentially, so more remittances = more Bitshares liquidity) we can ensure more and more transactions get routed via Bitshares, eventually hitting a point where the old system is turned off. The threshold for switching will be based upon transaction size, and competitiveness in terms of total cost. If bitshares is the best way to move $200 between currencies (e.g. bitUSD/bitJPY) then we will use that, otherwise we will default to the old system. We think this can happen in a matter of weeks or months fairly easily. For our partners who currently take BTC for settlement, the hybrid approach even with the old method will still utilise Bitshares, however we will be trading smartcoins for Bitcoin UIAs. If we used any of the existing BTC UIA gateways (Openledger, Cryptobridge, Rudex) the withdrawal times for BTC are unpredictable, for example with some Bitshares gateways it can take anywhere from 30 seconds to 2 days to receive a payout from withdrawing your UIA via a Gateway. That's not good enough for us to be able to utilise for remittances where everything is expected to be instant. We therefore are creating our own gateway for BTC (and other coins) so we know what we can depend upon and the infrastructure is owned by us and we are therefore not at the whim of a third party. This is why the creation of the Spark DEX Gateway is important as the hybrid approach we will still need to convert say BitUSD into BTC somehow in order to deliver BTC to our partners in Indonesia, Vietnam, Philippines, Nigeria etc. We will do this on the Bitspark gateway. Spark is bringing new money that is not currently in Bitshares, into bitshares, therefore over time this new liquidity will provide a solid base for us to transact solely via Bitshares pegged cryptocurrencies. We will be the buyer in the markets for various pegged smartcoins so if traders want to create the smartcoins Bitspark will always be there willing to buy at slightly over the market price. Step 2: Rollout in Production End of Q3 2018
New Front end for web remittance platform
New Sendy incl ZEPH integration
Backend trading logic for Bitshares complete and live
ZEPH integrated as rewards in Bitspark web
We aim to at the end of Q3 2018 have a newly designed and fully functioning remittance platform integrated with Bitshares and ZEPH. This means the newly designed web remittance platform is live in usage in production and it enables anyone from anywhere in the world to sign up and become an agent in the Spark remittance network. We will have integrated the main committee issued smartcoins at this stage but Bitspark issued smartcoins will likely need to wait until Q4. We intend to have ZEPH integration ready in Sendy at this stage and the ability to convert to/from other currencies within Sendy although the web platform is the higher priority than Sendy at this stage. This is perhaps the hardest milestone but the core functionality of the Zephyr project will be available at the end of Q3 with future developments to be on enhancing and iterating on feedback from this release. Step 3: Incentivisation kicks in End of Q4 2018
Cash to Crypto functionality implemented on the Bitspark web remittance platform
Cash to crypto functionality implemented for mobile topup agents
Open Source Trading bot development (likely contributing or forking another version of DEXbot, will be OS)
Zeph rewards are part of all incentives as any fee paid on any transaction in Spark (sending money, topping up a balance) therefore as we ramp up traction on Bitshares and remittance transaction more buybacks happen on ZEPH. It is however also important to note there are additional incentives we can expose to customers to incentivise uptake of the Spark remittance platform and thereby increase ZEPH transactions. In order for the world to go cashless with crypto there needs to be locations to exchange the cash at, into and out of crypto- these locations are Spark remittance agents (businesses) or mobile topup agents. We are calling this the Decentralised cash to crypto network for now. Being a Portal One of the problems money transfer agents have is all over the world they are being ‘de-risked’ by banks. This means banks are closing their bank accounts often for no reason other than the bank is no longer wanting to provide an account to that type of business, this often means the money transfer business who relies on a bank at some stage to send money goes out of business as they can no longer transact. This leads to further consolidation in the market with the big companies who have special deals with banks gaining market share at the expense of the smaller operators. The only way to fix this globally in a reliable manner is to remove the need for a bank in the first place and operate with what money transfer businesses already know and understand, cash. There are two main issues money transfer agents have when dealing with cash:
How do Agents get cash into the system to begin with
How to agents get their digital balance in the system into cash
Usually a money transfer agent would deposit cash at a bank or receive payment of money from their platform provider to their bank account. But if the MTO needs to operate without a bank they need a solution to the cash problem, enter Spark. We aim to complete functionality to enable Bitspark remittance shops to be cash in/out locations for crypto by the end of Q4. When shops can exchange the cash they have on hand for crypto this enables them to deposit crypto (value) to Bitspark remotely without the need for a bank. They can now use this cryptocurrency in their Spark account to transact and this cryptocurrency could be BitUSD, BitCNY, Bitshares, Bitcoin or any other crypto. Likewise if a shop has a large digital balance in Spark and needs cash, they can exchange it directly with someone for cash, reducing their digital balance and receiving cash again without a bank. But why would someone visit a Spark shop to exchange cash/crypto? Because they will make money. Whenever an exchange takes place the shop will be free to set a price they are willing to exchange it at which will always be better than the market rate (essentially its a fee they will pay to alleviate them from the burdens of having a bank). If a Spark shop has 100 bitUSD they need converted to cash, they can offer to exchange it for $99 in cash. The purchaser with cash then will get 100 bitUSD and only paid $99 in cash locking in a 1% profit. The same is true for the reverse, with the shop exchanging $100 in cash for 101 bitUSD. This ensures a market is established to ‘liquidate’ the balances of Spark shops of which ZEPH rewards are also tied to.
Market Making Bots Spark also intends to develop and maintain an open source trading bot for the Bitshares DEX. The reasoning behind this is simple, more liquidity is better for Spark making transactions. Currently there is an exciting project on Bitshares called DEXbot which is open source and funded by a worker proposal. We look forward to working with the DEXbot team in whatever capacity is best, this might be either contributing to the DExbot project directly or forking it, keeping it open source and developing it separately. The decision for this will be made closer to development beginning on this milestone. The Tajikistan Project Bitspark is working with the United Nations Development Program (UNDP) to bring the Spark Platform and Sendy App to Tajikistan to service the vital money transfer industry in the country. As an update, Tajikistan UNDP is undergoing training facilitated by Bitspark about cryptocurrency, how it works and improving deeper understanding about Bitspark’s plans for the pilot. Since the teams last visit, Bitspark has been lucky enough to have key players engaging with Project Zephyr ranging from government and financial institutions who will endeavour to see this project into fruition. In the course of this, we are learning that larger organisations have their own pace. As time moves on, with our other milestones met, we are considering actively driving this solely ourselves there regardless. This completes Bitspark’s detailed roadmap for now. We hope this works as a guide to keep everyone in the loop as to our current development efforts and of course this roadmap may change if it is necessary to do so. Bitspark is excited to continue as we have since the company’s token sale to complete the necessary steps to remove barriers to cryptocurrency mass adoption and fulfil the broader mission statement of making a decentralised network of crypto + cash enabled agents all over the world.
WalletBit Expands its Bank Deposit Option to 42 Currencies
WalletBit now offers 42 currency options, enabling bank deposits in over 50 countries..This means the advantages of Bitcoin can be enjoyed by more than half the world's population. Many countries added in this latest expansion have never been able to sell their Bitcoins for local currency until now. Conversion rates are locked in at the time of purchase or Bitcoin deposit. This means that you never have to worry about the Bitcoin exchange rate or where you are going to sell your Bitcoins. The process is entirely automated and you will receive weekly bank deposits in your local selected currency. The currencies now supported by WalletBit are: Australian Dollars (AUD), Bahrain Dinar (BHD), Bulgarian lev (BGN), Canadian Dollars (CAD), Danish Krone (DKK), Pounds Sterling (GBP), Euro (EUR), United Arab Emirate (AED), Hong Kong dollars (HKD), Indian rupees (INR), Icelandic krona (ISK), Israeli Shekel (ILS), Japanese Yen (JPY), Jordanian dinars (JOD), Kenyan Shilling (KES), Croatian kuna (HRK), Kuwait Amazing dinars (KWD), Latvian lats (LVL), Lithuanian litas (LTL), Morocco Dirhams (MAD), Mexican peso (MXN), New Zealand U.S. dollars (NZD), Norwegian Krone (NOK), Pakistani rupees (PKR), Philippinske pesos (PHP), Polish zloty (PLN), Romanian leu (new) (RON), Russian ruble (RUB), Saudi rials (SAR), Swiss francs (CHF), Singapore dollars (SGD), Sri Lankan rupees (LKR), Swedish Krona (SEK), South African Rand (ZAR), South Korean won (KRW), Taiwan Dollars (TWD), Thai baht (THB), Czech koruna (CZK), Tunisian dinars (TND), Turkish lira (new) (TRY), Hungarian forints (HUF), U.S. dollars (USD) WalletBit is the most affordable way to accept Bitcoins worldwide. All of our currency conversion options are just 1.86%. When you add our standard Bitcoin processing rate of 0.89% you pay a total of 2.75%. All accounts include the ability to use our business tools. This includes but is not limited to Mobile Checkout, shopping cart plug-ins and our point of sale system. For more information please see www.WalletBit.com.
How much you loose buying using Paypal instead of Bitcoin
We are a merchant based in Hong Kong shipping orders world wide and accepting Paypal as the payment method. I decided to calculate the total cost using Paypal as payment method and compare this to the costs using Bitcoin. Bellow is my calculation for same item paying with Paypal and Bitcoin. Paypal example Product cost
388 USD transaction = 28.6 USD savings There may be some additional fees that are not included (let me know if i missed something) but this is an example based on real time rates showing how much cost is possible to save using Bitcoin as payment network over Paypal. In this example paying over Bitcoin network the buyer would saved 17.3 USD and merchant would actually earn 69 CNY (11.3 USD) more profit. That is a total of 28.6 USD that is going to Paypal, credit card fees and banks. Same transaction is possible more efficient and much cheaper over Bitcoin. I hope we one day will be able to use Bitcoin as payment and pass the saving to buyer. Originally posted here:http://www.meizume.com/marketplace/15451-meizu-mx3-re-299-usd-bitcoin.html#post164109
There are lots of nice communities on IRC with rooms for discussing various topics and people giving free support for problems
You can access the Freenode IRC channel through your web browser here: http://webchat.freenode.net/ Channels begin with # and you can specify multiple ones using a , between them. i.e #bitcoin, #electrum, #coinbase
BTC China's Picasso Mobile Trader iOS App available for download.
Hey Redditors, A big week for the team here at BTC China! On Monday we welcomed a team of no less than EIGHT auditors to come by our office and review our storage and funds. After a meticulous process coupled with one-off verifications of user funds in response to calls on our hotline and private messages on Weibo, these auditors signed a letter affirming their belief that our funds are 100% accounted for. The auditors were all highly prominent members of China's Bitcoin community, with a vested interest in the honest reporting of exchanges and their own reputation. And because we like to be thorough, we went ahead and invited eight of them. :) Bitell.com has a good recap, and photos: http://www.bitell.com/t/2046 Now just yesterday, our latest iOS app is available for download! Our Picasso Mobile Trading app turns you into a mobile Bitcoin seller, with instant price conversion into eight major currencies: USD, CNY, EUR, CAD, GBP, HKD, JPY, SGD. The app is also available in no less than 10 languages: English, Chinese (simplified), Chinese (traditional), German, Spanish, French, Russian, Japanese, Italian and Korean. Key features include: Fast, easy registration: just use your e-mail address and verify your phone number and you're ready to sell, send and receive! QR Scanner allows you to scan and send to any Bitcoin address. Instant price conversion allows you to sell BTC from the palm of your hand, with the option to determine your own profit margin. Ex: Rather than go through an exchange, your friend wants to directly buy off of you. You sell them one Bitcoin, and they agree that because of the convenience you provide, they'll pay a small markup. You can put in your profit margin at 5%, and you'll sell to them at 5% above the current market price. You can also use the "send" feature to send an amount equivalent to the fiat value you need, at current market rates. A first-hand example: the other day one of our engineers bought the person behind this account dinner for 30CNY. I opened up the html5 version of the app, put in "send: 30CNY" (in BTC) "to: addressXYZ" and boom, all debts were settled without any cash changing hands. check out our App Store developer page here: https://itunes.apple.com/us/artist/btcchina/id859878904 A note: ...Why is it called Picasso? In case you were curious, here's the background: The Chinese name is 币加锁 (pronounced bi jia suo). This is the exact same pronunciation as the Chinese word for "Picasso," but the characters actually, roughly, translate to " (add) currency lock." Now tell me Chinese isn't a cool language, eh? Suffice it to say, this is just another in a long line of products and services that will be coming your way right around... soon ;).
Today USD to HKD exchange rate = 7.750024. Exchange Rates Updated: Mon, Oct/26/2020. Reverse rate: HKD to USD. Amount. From: To: Convert. USD:HKD Currency Converter. Currency of United States is US Dollar. ISO Code is USD and symbol of United States Dollar is $. Today USD to HKD exchange rate is lover on 0.00019 HKD than yesterday and price for 1 US Dollar is 7.75 HK Dollar . You convert US ... Online United States Dollar to Hong Kong Dollar converter, we use live exchange rates for the most accurate USD-HKD exchange rates. USD to HKD - US dollars to Hong Kong dollars exchange rate is published here and is very accurate, updating 24/7 with live exchange rates. Conversion of 1 usd to hkd displayed in three ways: 1 usd to hkd exchange rate, usd to hkd converter and usd to hkd live and history chart. See the Bitcoin exchange rate i.e. the current value of one bitcoin. Convert any amount to or from your preferred currency. Bitcoin is a digital currency. You can use Bitcoin to send money to anyone via the Internet with no middleman. Learn more here. Convert 1 Bitcoin to Hong Kong Dollar. Get live exchange rates, historical rates & charts for XBT to HKD with XE's free currency calculator.
Euro Currency and Bitcoin exchange rates - YouTube
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