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Millions of Crypto Users Can Now Buy Bitcoin, Ethereum and Dai Via Apple Pay and Google Pay

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Millions of Crypto Users Can Now Buy Bitcoin, Ethereum and Dai Via Apple Pay and Google Pay

Millions of Apple Pay and Google Pay users can now purchase crypto through Wyre. The company’s new products are designed to make purchases of Bitcoin (BTC), Ethereum (ETH) and Dai (DAI) extremely simple and fast.

Users will be able to integrate three different Wyre V2 products. The first two are available today, and the third option will be available by the end of October, according to the announcement.

    1. A full-featured, Wyre-branded Apple Pay/Google Pay checkout that you can integrate into your web app
    2. A white-label-able Apple Pay/Google Pay button that you embed into your web app
    3. A guide/process to white-label an Apple Pay/Google Pay button into your mobile app using Wyre as a service provider. (Available by the end of October)

The company says new accounts can launch after two clicks by pulling a user’s KYC/AML information from Apple Pay or Google Pay.

Only after a user surpasses certain thresholds – $250 for one-time withdrawals/$1,500 for a lifetime – will they be required to submit more documentation.

“A significant pain-point that we received feedback on was our KYC process. Users shouldn’t have to manually enter their information, and they certainly shouldn’t be required to upload documents until it’s needed for higher limits. We’ve simplified this process by using the information already provided by Apple Pay and Google Pay.”

Apple Pay users can log in using their iPhones, with desktop browser login for Google Pay users. In two taps and 60 seconds, users can specify the amount of crypto they want, add an address and confirm the purchase.

Earlier this year, mobile wallet BRD partnered with Wyre to offer US customers at 1,700 banks a way to purchase Bitcoin, Ehtereum, and Dai using bank transfers. Wyre, which is focused on increasing fiat on-ramps to bridge the world of traditional money with cryptocurrency, is working on consumer-friendly products that are easy enough for grandma to navigate.

Says Spencer Chen, vice president of global marketing at BRD,

“Wyre has a vision of being Stripe for crypto.” 

According to data compiled by Statista, Apple Pay has over 383 million users worldwide and is one of the most prominent mobile payment providers with a global iPhone user base reach of 43% as of December 2018.

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Crypto Expert Says There Is 60 Percent Chance of Bitcoin Miner Capitulation

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Crypto Expert Says There Is 60 Percent Chance of Bitcoin Miner Capitulation

Cryptocurrency analyst Charles Edwards has estimated that there is a 60 percent chance that another miner capitulation, the dramatic drop of Bitcoin’s hash rate, will take place soon. Miners have to decide whether they want to call it quits or run their operations at a loss in order not to miss out on a potential bull run.

In his Medium article, Edwards opined that there was an intrinsic link between hash rate and price. The new price bottom tends to coincide with miners leaving the Bitcoin network en masse. Hence, buying new coins when the hash rate reaches a local low could be an excellent opportunity to generate big returns (as the table below shows).

Potential returns

Hash rate is not as volatile as price. The biggest drop that has been recorded since 2010 is only 53 percent (a world of difference compared to Bitcoin’s record-holding 93 percent drop).

Bitcoin’s mining difficulty, which gauges the amount of computational power that is required for solving one BTC block, declined by seven percent on Nov. 7. However, Dutch permabull “Plan B” predicted that the next adjustment would be positive for Bitcoin based on its growing hash rate.

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Bitcoin ATMs Top 6,000 Worldwide

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Bitcoin ATMs Top 6,000 Worldwide

There are now more than 6,000 bitcoin and crypto ATMs available to users worldwide.

According to data compiled by CoinATMRadar, there have been 6,003 crypto-based ATMs installed worldwide as of Nov. 17.

The United States continues to lead the rest of the world in bitcoin ATMs, with more than 3,900 machines installed. Canada has the second most 653, followed by the United Kingdom with 272 crypto ATM installations.

As previously reported, bitcoin ATMs have experienced a resurgence in growth throughout 2019, alongside the rising price of crypto-assets. In September, the total number of crypto ATMs worldwide topped 5,500, marking a 500 percent increase in installations since 2016.

Compared to traditional exchanges, ATMs charge higher fees on transactions that can reach as much as 15%. However, they also provide a convenient, physical kiosk for the transfer of bitcoin to fiat, and vice-versa, in addition to buying and selling crypto-assets.

Many members of the crypto community have looked at the rise in ATMs as a positive indicator of growing demand.

 

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Russian Intelligence Agency FSB Linked to $450 Million in Missing Bitcoin

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Russian Intelligence Agency FSB Linked to $450 Million in Missing Bitcoin

Russia’s Federal Security Service (FSB) has been linked to the disappearance of $450 million in bitcoin from the controversial crypto exchange World Exchange Services (WEX).

Controversial Exchange WEX/BTC-e

In late 2018, Russian-based crypto exchange WEX collapsed amidst accusations of money-laundering the disappearance of hundreds of millions of dollars in bitcoin and other crypto assets. According to a BBC report published Nov. 15, the Russian FSB intelligence agency may have played a role in misappropriating the lost funds.

WEX was previously known as BTC-e before being shut down in 2017 by international authorities for its alleged involvement in money-laundering activities. Alexander Vinnik, the exchange’s alleged operator, was arrested at the time and accused of laundering more than $4 billion in cryptocurrency since the exchange’s launch in 2011.

A PwC report earlier in the year said,

WEX is most notably known for its alleged involvement in the laundering of some $4 billion, transferring of funds to facilitate operations of the threat actor tracked by PwC as Blue Athena, and being responsible for cashing out 95% of all ransomware payments made since 2014.

FSB Crypto Fund

According to the BBC report, WEX/BTC-e co-founder Alexey Bilyuchenko says he was forced to hand over information about customer’s digital wallets to members of the FSB in 2018, which the intelligence agency allegedly used to obtain more than $450 million in user funds.

The BBC claims to have obtained audio recordings from individuals discussing the importance of bringing WEX under FSB control, including one man the BBC identifies as Konstantin Malofeev, a pro-Kremlin Russian billionaire currently under U.S. sanctions.

Bilyuchenko reportedly received multiple calls threatening to close the WEX exchange if he did not comply. According to the report, the WEX co-founder was taken to FSB offices in Moscow over the course of three days in April 2018, where he handed over flash drives containing details on accessing exchange user funds.

Bilyuchenko says he was told that WEX client money would be transferred to the “FSB Russia Fund.” Several months after handing over the data, WEX froze customer funds and withdrawals, before completely shutting down in late 2018.

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