Bitcoin News and Finance: What You Need to Know

A bitcoin ATM provider has announced a deployment of new machines across several states in the U.S. Bitcoin Depot is set to launch over 100 new bitcoin ATMs in 24 states soon. Bitcoin Depot Expects to Grow by 200% in 2021 According to the company , almost 115 BTC ATMs will be installed, doubling its current count in the last six months. Globally, the ATM network has surpassed 2,000 kiosks, boosted with launching the new ATMs in the United States. Per the distribution, 14 new kiosks will be deployed by the Atlanta-based company across Alabama, 13 in Minnesota, 12 will be installed in Florida, and the last 12 across California. Brandon Mintz, Bitcoin Depot President and CEO, commented on the expansion: Cryptocurrency offers a lot of opportunities for people that don’t have access to traditional financial services, like banks. Our kiosks allow them to essentially self-bank through the digital wallet on their phone by turning their cash into cryptocurrency, which can be used to tran...

South Korean tax authorities are unstoppable in keeping crypto holders in their eyes and making them accountable to pay taxes. The National Tax Service (NTS) has issued a warning to the crypto traders that they have to report their earnings even from tokens held in foreign exchanges. No Details on How the Agency Will Supervise the Process According to MBC , the agency alerted that South Koreans who are using overseas exchanges are also responsible for reporting all their profits gained. By doing so, crypto holders should pay correspondent taxes on them from 2022. That year is where the government seeks to deploy the new tax laws on cryptocurrencies. As Bitcoin.com’s newsdesk recently reported , the South Korean central government is expected to introduce a 20% on crypto trading profits from domestic crypto exchanges, only if gains cross the $2,300 threshold. The NTS is concerned about crypto traders using foreign crypto exchanges to bypass their tax obligations in South Korea. St...

In just over two weeks, a company called Wisemining plans to launch a new product called Sato, a boiler that can provide heat to a home by leveraging ASIC mining rigs for heat production. It also means that the heater provides revenue in the form of cryptocurrency, which offsets the costs of heating a home a great deal. Bitcoin Mining and Cogeneration While bitcoin ( BTC ) and a slew of crypto assets have seen values increase a great deal, there’s been a lot of criticism aimed at digital currency mining and how it utilizes lots of electricity. Despite the numerous rebuttals written over the years and even books that explain that proof-of-work (PoW) mining’s electrical consumption is way overhyped, people continue to spread the myths. Another subject that is often missed is the fact that bitcoin and cryptocurrency mining can bolster cogeneration concepts. Essentially, cryptocurrency miners have the ability to provide cogeneration ideas for a myriad of heat-producing mechanisms. T...

During the last week, the Bitcoin network’s hashrate has jumped to a record high of 185 exahash per second on March 14, 2021. The hashpower has relentlessly continued to rise, climbing a whopping 18,400% in five years since January 21, 2016. Bitcoin Price Jumps Over 1,500% in a Year, Hashrate Climbs 18,400% in Five Years The price of bitcoin ( BTC ) touched an all-time high (ATH) reaching $61,782 per BTC on March 13, 2021. It happened pretty much one year after the crypto asset’s most recent market bottom on March 12, 2020. The price had risen over 1,500% since that day, otherwise known as ‘Black Thursday,’ which saw BTC prices slide to $3,850 per unit. BTC prices are down over 6% since the recent ATH and the value of the leading crypto asset has driven mining profitability. A touch after BTC hit the ATH in value, BTC miners ramped up the hashrate to 185 exahash per second (EH/s) the day after on March 14, 2021. Bitcoin mining is extremely competitive and with the hashrate ...

PRESS RELEASE. Toronto, Ontario, Canada, March 19th 2021 – Affinity Design – Rarify Apps just launched a new deFi application only possible on layer 2 tech. After only a week since the claiming app debut, the price of Rare Coin soared well over 1000 USD on the Honeyswap DEX after the app garnered over 3 thousand daily active claimers. This was all possible due to xDai chain’s speed and low fees that let users claim a small fraction of “Rare” for only ten cents per claim. As gas fees on Ethereum continue to rise, yield farming on the platform has begun to wreck yield and make it outright impossible for the little guys to earn a fair share. By building on the xDai chain (a stable coin layer 2 solution) the barriers of cost to entry are eliminated as fees are fractions of a penny and can transact in under 5 seconds. This makes it possible to distribute the total supply of “Rare Coin” to anyone who makes a daily claim on the rare.claims app (available now) or earn more for locking u...

The United Kingdom’s Advertising Standards Authority (ASA) has banned Coinfloor’s bitcoin advert for “irresponsibly” promoting investments in the crypto asset. The watchdog claimed the crypto exchange’s marketing campaign had targeted pensioners who were “unlikely to know” much about the topic. ASA’s ruling comes after the regulator received two complaints concerning the advert. According to a report , the ASA said it is particularly concerned with the advert’s use of the phrase “there is no point in keeping your money in the bank”. While acknowledging Coinfloor’s effort to inform investors of the risks associated with cryptocurrency investment, ASA however, asserts that the exchange’s disclaimer, which is printed in small print, is “insufficient to counteract the overall message”. Meanwhile, ASA is also alleging that the advert is “misleading because it had failed to make clear the risks associated with bitcoin investments.” The watchdog also assails the advert for not being “socia...

A few months ago a trend started where well known businesses like Microstrategy, Square, and Tesla started adding bitcoin to their company balance sheets. Now a Canadian condominium company has decided to invest in bitcoin in order to replace some of the firm’s reserve fund with crypto. Thornton Place Condominium Corporation leveraged the cryptocurrency exchange Kraken to process the transaction. Canadian Condo Company Purchases Bitcoin for Reserves Crypto assets and the leading digital currency bitcoin ( BTC ) have been gathering steam in 2021 as assets like BTC have touched all new price highs. For instance, BTC reached an all-time high (ATH) touching $61,782 per BTC on March 14, 2021. In 2020 and into 2021, a great number of companies have been trading cash and stocks from their treasuries in order to replace them with bitcoin ( BTC ). In recent times, firms have also been adding ethereum (ETH) to their balance sheets as well. On March 17, the Canadian condo business called ...

A new study revealed that cryptocurrency-related scams almost doubled over the last year. However, forecasts are not optimistic going forward, as the report forecasts another significant increase in the number of cases in 2021. Research Scanned Over 300 Million Websites According to the “Cryptocurrency Scam Report” published by fraud prevention company Bolster and shared with Bitcoin.com News, the correlation with the surge of cryptos’ popularity and the coronavirus pandemic boosted the figures of crypto scams in 2020. Bolster analyzed over 300 million websites and found out that more than 400,000 crypto scams were created over the last year. In fact, it represents a 40% increase in comparison with the numbers seen in 2019, said the study. With such a number in place, and considering the bitcoin ( BTC ) becoming increasingly mainstream, crypto scams could witness an increase of 75% in 2021, stated Bolster. Shashi Prakash, co-founder and CTO of Bolster, told Bitcoin.com News: Th...

Crypto assets that are linked with non-fungible tokens (NFTs) marketplaces have risen sharply since the mania took off a few months ago. NFTs are selling at prices that many consider ridiculous for intangible artwork. Third-Largest Art Sale by a Living Artist Was Tokenized One piece of art created by the digital artist called Beeple – a collage of the artist’s work since 2007 – recently sold for a record $69.3 million at the auction house Christie’s. The JPG file became the third-largest art sale by a living artist after Jeff Koons and David Hockney. According to the latest data from blockchain research firm Kaiko, NFT-related tokens have soared in line with the record sales in digital art. Decentraland, a virtual world where players can purchase NFTs, has seen its MANA token surge 682% since Feb. 1. The token Flow, a product of Dapper Labs (partner of NFT marketplace NBA Top Shot), climbed 216% to a high of $37.73 on Mar. 13. Rarible (RARI) rose more than 825% from $4.11 on Feb...

The famed American actress, artist, singer, and entrepreneur is set to auction her exclusive collectibles on a Tron-based NFT auction platform, joining the chorus of celebrities promoting coins and projects in the blockchain ecosystem. Hollywood Star to Promote NFT Education & Adoption in Upcoming Clubhouse Session The recent non-fungible token (NFT) asset boom has seen no shortage of participation from both the crypto ecosystem and celebrities seeking to join the latest craze. Lindsey Lohan is the latest Hollywood personality to join the trend with her upcoming collectible sale, following several high-profile auctions which have illuminated the NFT space and its potential. With an event set for March 20th, Lohan will be auctioning her exclusive NFT on the Tron network . The move puts the spotlight on Tron’s capabilities, which is increasingly considered a viable alternative for NFT auctions given its lower transaction costs and higher performance relative to the events curren...