Bitcoin News Summary – April 6, 2020

Binance acquired the leading cryptocurrency price reporting website, CoinMarketCap. Binance paid a reported $400 million for the site, which has been running since 2013. The site is currently ranked as the 570th most popular on the web. Both entities will remain entirely independent, according to the official releases.

Fintech pioneer, Revolut, enabled crypto and precious metal trading via its app. Revolut users will now be able to use it for trade between 25 fiat currencies and Bitcoin, Ethereum, Litecoin, XRP, and Bitcoin Cash. 

The popular mobile Bitcoin and Lightning wallet, BlueWallet, will be integrating private peer-to-peer trading via the Hodl Hodl decentralized exchange. When the service is fully rolled-out, it will allow for simplified private trading, in an era when many options for P2P trading require identity verification.

A US District Judge has rejected Telegram’s request to distribute its Gram tokens to non-US investors, ruling in favor of the prior SEC decision. Telegram has asked a court to clarify what exactly it must do to comply with the SEC order banning the issuance of its Gram tokens as the launch of the TON blockchain should take place before April 30, otherwise, they will have to return the funds to investors.

After facing multiple delays, the adoption of Russia’s major cryptocurrency law will be postponed again, now due to the coronavirus, as all legislative processes have slowed down in the country. Russia’s upcoming crypto law will provide a definition of cryptocurrencies and prohibit the use of crypto as payment, but won’t be adopted before the end of this spring.

Before we conclude, this week’s “Bitcoin quick question” is what is the safest way to store my Bitcoins?

There are two main types of Bitcoin wallets. Hot wallets, a term that refers to wallets that are connected to the Internet, and cold storage wallets which have no internet connectivity and can’t be accessed remotely. The safest way to store Bitcoins would be on cold storage wallets, and the most popular form of cold storage is a hardware wallet.

If you can’t afford a hardware wallet or don’t wish to use one, you can always create a paper wallet for your Bitcoins. In any case, it’s not advised to keep large amounts of Bitcoin on any hot wallet.

If you want to learn about hardware wallets or paper wallets visit the links in the description.

Have a question you want us to answer? Just leave it in the comment section below. And if you want to support our videos, consider using the Brave browser for faster, ad free browsing that can also earn you rewards. Just visit the link in the description below.

That’s what’s happened this week in Bitcoin. See you next week.

Bitcoin Video Crash Course 

Dummy-proof explainer videos enjoyed by over 100,000 students. One email a day for 7 days, short and educational, guaranteed.

We hate spam as much as you do. You can unsubscribe with one click.

Leave a Reply

avatar
  Subscribe  
Notify of