XRP reaches Australia as FlashFX adopts Ripple’s cryptocurrency
In a move that has given a boost to the cryptocurrency market, FlashFX, a payment transfer platform, has announced the launch of its latest cross border payment solution using XRP that is targeted to improve the concept of foreign exchange in Australia. Nicolas Steiger, the Chief Executive Officer of FlashFX stated that: “We are excited to be part of the evolution in international payments processing. It’s about time that consumers and businesses saw a meaningful change in how money is sent across borders. The service provides an alternative for Australians who want to send a payment faster and cheaper than banks currently provide.” FlashFX has always worked with the mantra […]
Ten years of bitcoin is about more than boom, bubble and bust
This weekend will mark the 10th anniversary of the very first transaction involving bitcoin. A decade later the future of bitcoins and the host of the so-called cryptocurrencies that it spawned is still uncertain. On 12 January 2009, someone who called themselves Satoshi Nakamoto sent 10 bitcoins to a US software engineer, Hal Finney (they may, some believe, have been one and the same). The coins were virtually worthless and it took more than two years before the first exchange of bitcoins for goods – 10,000 bitcoin for two pizzas worth about $US30 ($42) – occurred. For most of their history cryptocurrencies have been a curiosity, a peer-to-peer anti-establishment version […]
Where is the cryptocurrency industry headed in 2019?
To get a sense of just how troubling 2018 has been for the cryptocurrency industry, one need look no further than bitcoin (BTC). Heading into 2018, bitcoin traded for close to $13,500 after reaching an all-time high of $19,783.06 in December of 2017. At the time of writing, bitcoin is selling at $3,400, a loss of about three-quarters of its value — and other digital currencies aren’t faring much better. Ethereum, for example, fell from an early-year high of $1,300 to $91 as of Dec. 17, 2018. But cryptocurrencies like bitcoin and ethereum are hurting on more fronts than value alone. Investor interest in digital currencies has waned dramatically in […]
PlayChip listing confirmed on Independent Reserve
The PlayChip Foundation has announced the listing of its PlayChip token on Independent Reserve, Australia’s first regulated cryptocurrency exchange. PlayChip will be the first Australian ERC20 token and first gaming token to be listed on Independent Reserve. The token will be paired with three fiat currencies – AUD, USD and NZD, allowing for users of the PlayChip to convert directly from the token into cash following the winning and withdrawal of tokens. The listing has been scheduled for January 2019, with a firm date to be announced prior to the end of this year. The PlayChip will serve as a utility token at the core of an online gaming ecosystem […]
ATO eyes cryptocurrency activity in annual tax returns
The Tax Office has restated warnings to Australians trading cryptocurrency to declare profits in their annual returns, amid an increase in questions about reporting requirements. Bitcoin and other cryptocurrencies are considered property, not currency, for tax purposes in Australia, making them liable for capital gains tax when sold for a profit after July 2017. If the cryptocurrency is held by an Australian resident taxpayer for more than 12 months before being sold or used, the taxpayer may be eligible for the 50 per cent capital gains tax discount, making them a cryptocurrency “investor”. Exemptions for personal use apply, including to assets worth less than $10,000, which are maintained for personal […]
Teens are putting ‘Fortnite’ virtual money ‘V-Bucks’ at the top of their holiday wish lists
If you’re unsure what to get the young teen in your life for the holidays, you may want to put away the gift cards and cash in favour of spending money for the ever-popular video game “Fortnite.” A survey of thousands of teens found that, for the first time, one of their most-requested gifts for this holiday season are “V-Bucks,” the virtual in-game currency used in “Fortnite: Battle Royale.” The annual report on teens’ holiday wish lists, from analyst firm Piper Jaffray, also saw another newcomer – cryptocurrency, the “money of the future.” “Fortnite,” a multiplayer-last-man-standing type game, has exponentially grown in popularity since its Battle Royale mode launched in […]
Stablecoins could lead cryptocurrency growth in 2019
With Bitcoin making a shaky climb closer to $4000, the entire industry of cryptocurrency is still reeling from hitting a relative low on the year last week. Since the start of the year, the number one cryptocurrency by market capitalization is down nearly 80 percent since peaking close to $20,000 in December 2017. For some, the falling price of Bitcoin and the broader altcoin has raised the alarm and led to widespread selling out, negativity and a soured mood towards crypto and blockchain-based assets. Just yesterday, EWN reported on the significant number of crypto-based startups which have been forced either to close shop or make substantial staff cuts in response […]
American Express praises Ripple for cross-border payments, calls blockchain technology ‘very promising’
American Express is at it again with positive comments on blockchain technology and praising Ripple.
