November 12, 2018

Cryptaur (CPT) to be Listed on CoinBene, One of Asia’s Largest Cryptocurrency Exchanges

This is a paid-for submitted press release. CCN does not endorse, nor is responsible for any material included below and isn’t responsible for any damages or losses connected with any products or services mentioned in the press release. CCN urges readers to conduct their own research with due diligence into the company, product or service mentioned in the press release.

bitcoin Press Release: Cryptaur (CPT), the decentralized Ethereum-based ecosystem from Cyprus is pleased to announce that it will be listed on CoinBene’s secure and trustworthy crypto assets exchange.

November 9th, 2018, San Francisco, CA: CoinBene, which is based in Singapore, is one of Asia’s largest cryptocurrency exchange platforms. It is also one of the newer exchange platforms which supports an extensive list of Cryptocurrencies, featuring USDT, ETH, and BTC. This makes CoinBene an ideal platform for Cryptaur’s “pairs” offering, and leaves it well-poised to achieve its goal of removing the middleman, thereby allowing for total decentralization and demarketization. Dmitry Buriak, CEO and Founder of Cryptaur stated:

“For us, adding Coinbene to our portfolio of online exchanges was an absolute must. With the assets we have and the robust platform we’ve created, we are sure that Coinbene traders will enjoy the versatility and ease of use that comes with being a Cryptaur investor.”

A Prominent News Presence

Cryptaur’s current number of CPT wallet users now stands at a minimum of 90,000 active users and this is indicative of an engaged crypto community. Having announced its partnership with ProximaX and NEM a few days ago, Cryptaur has also enjoyed other recent successes.

Last month it announced that it is being recognized as an industry leader via CCN, ABMCrypto and Global Coin Report. Some other strides in Cryptaur’s growth and realization of its 2018 goals have been the launch of debit cards and the launch of the automatic Know Your Customer (KYC) at Fintech United Group. Additionally, there is the lottery, gaming platform, the LifeWise Marketplace, Go ICO platform which is already in partnership with Kasko2go, Prover, and Equineum.

Multiple Offerings

The announcement also comes amid a flurry of activity on the Cryptaur ecosystem. The company recently announced multiple dApps for users in the coming months, including titles like the X Game, which allows users to breed virtual avatars using real-world genetics, as well as Agehack and Cryolifebank, Cryptaur also possesses an animation platform called “Cryptoons” and a peer-to-peer microlending service using CPT. According to Buriak:

“Once again this shows that there is no limit to what Cryptaur can do. Thus far 2018 has been a great year for us and there is no doubt whatsoever that things will just continue to get bigger and better for us and all of our stakeholders. Cryptaur is a force to reckon with. We are here to stay and to the middlemen out there, you are on your way out! We said we would do it and now we are showing you how we are doing it.”

About Cryptaur

Founded in 2017, Cyprus-based Cryptaur increases efficiency by eliminating the middleman from a wide range of social and financial transactions. The project’s blockchain-based decentralized ecosystem supports peer-to-peer transactions, pay platforms, online gaming, and more.

To find out more, visit the website at – www.cryptaur.com
To Download the Cryptaur Wallet – www.wallet.cryptaur.com
Find Cryptaur on Facebook – www.facebook.com/cryptaur
Follow Cryptaur on Twitter – www.twitter.com/cryptaur
Official Telegram Channel – https://t.me /
Cryptaur Telegram Chat – https://t.me/cryptaur
Follow Cryptaur on Instagram – www.instagram.com/cryptaur
Cryptaur Team Linkedin – www.linkedin.com/company/11000132
Cryptaur Medium – www.medium.com/@cryptaur
Cryptaur YouTube – https://www.youtube.com/c/CryptaurOfficialEnglish
Join the Cryptaur Reddit – https://www.reddit.com/r/Cryptaur

Media Contact Details
Contact Name: Anastasia Vestfal
Contact Email: [email protected]

Cryptaur is the source of this content. Virtual currency is not legal tender, is not backed by the government, and accounts and value balances are not subject to consumer protections. This press release is for informational purposes only. The information does not constitute investment advice or an offer to invest.

Published at Mon, 12 Nov 2018 06:14:58 +0000

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April 18, 2017

Bitcoin Trading at a Premium on Bitfinex and Poloniex

While bitcoin tends to have slight price premiums and discounts in different currency markets like the CNY or INR, some exchanges are now trading bitcoin with a considerable premium. Bitcoinist explains why.

Bitfinex and Poloniex Price Premium

A quick look at the Bitcoin prices from all exchanges in the field and one will notice a small anomaly. Both Bitfinex and Poloniex are trading bitcoin with a +$50 premium on the USDT market. While most exchanges currently have an exchange rate of 1 BTC/ 1,200 USD, both Poloniex and Bitfinex are trading at roughly 1 BTC/ 1,260 USD.

What is going on? Price at Bitfinex and Poloniex is still at a $50 .
over other USD exchanges. pic.twitter.com/0dFkkfXW8A

— SGKinsmann (@BambouClub) April 18, 2017

//platform.twitter.com/widgets.js

This premium is due to the difficulty experienced in withdrawing fiat currency from these exchanges, in this case, the U.S.Dollar. While Bitfinex seems to be experiencing problems on the fiat side due to recent complications with partner banks, there also seem to be some problems with liquidating the USDT cryptocurrency token that replaces the USD currency on the Poloniex exchange.

It turns out, however, that both exchanges are being affected by the same problem: Wells Fargo.

Bitfinex

Last week, Bitfinex published a blog post regarding delays in processing USD withdrawals. Although Bitfinex doesn’t state what the exact problem is, the situation is believed to be connected with the problems experienced with the Wells Fargo bank which stopped processing transfers from the Taiwanese banks used by Bitfinex. Since then, Bitfinex has decided to file a lawsuit against the bank and is seeking a preliminary injunction as well as damages of more than $75,000. The announcement reads:

Bitfinex is currently experiencing delays in the processing of outbound USD wires to customers. The normal channels that we have been operating through in the past are currently unavailable. Alternative channels are being opened to solve these transmission delays; however, the complexity and scale involved mean that it is taking some time to return to normal withdrawal velocities. Consequently, customers requesting USD wires should expect delays as we work to normalize the withdrawal process. USD deposits remain unaffected.

However, since then, the situation has escalated and despite the reference made by Bitfinex to the USD deposits remaining unaffected, a new announcement was posted yesterday, stating that USD deposits are being blocked. The new statement enforces the notion that the problems are indeed due to the complications with Well Fargo and Bitfinex’s Taiwanese banks. The announcement reads:

Beginning April 18, 2017, all incoming wires to Bitfinex will be blocked and refused by our Taiwan banks. This applies to all fiat currencies at the present time. Accordingly, we ask customers to avoid sending incoming wires to us until further notice, effective immediately.

As users struggle to withdraw USD, those that are not willing to wait for the operations to return to normal may be pushing the price upward as they buy bitcoin in an attempt to move funds out of the exchange and liquidate them elsewhere at a loss. Other may be taking advantage of the situation and selling for a higher price, hoping that withdrawals will eventually resume, pushing the price back to the average exchange rate.

Poloniex

The problems on Poloniex’s side seem to derive from the USDT (Tether) cryptocurrency token. Poloniex does not allow fiat withdrawals or deposits and works instead with USDT, a crypto asset issued on the bitcoin blockchain through the Omni Layer.

This may cause some liquidity problems for users that are not aware how to exchange USDT for USD. The main USDT/USD market is, in fact, Bitfinex, which is currently experiencing the aforementioned issues with deposits and withdrawals. Other markets like Kraken seem to be trading USDT/USD at a discount, currently going for $0.941, meaning that users that sell bitcoin for USDT and then withdraw it through Kraken are doing so at a loss. Other USDT/BTC markets like Bittrex are also seeing a premium for BTC.

Users could still exchange the cryptocurrency for USD on the official Tether website but there’s a problem: Tether was also working with Wells Fargo to process customer in and outgoing transaction but the bank decided to freeze operations, affecting both Tether and Bitfinex.

So, we can see that both Poloniex and Bitfinex are being affected by the same problem which is being caused by Wells Fargo. It is unclear when the situation will be resolved but it’s worth noting that Tether has no legal obligation to resume withdrawals, although they most likely will. The website’s legal warning reads:

There is no contractual right or other right or legal claim against us to redeem or exchange your Tethers for money. We do not guarantee any right of redemption or exchange of Tethers by us for money. There is no guarantee against losses when you buy, trade, sell, or redeem Tethers.

Have you been affected by the withdrawal issues on Bitfinex or Poloniex? Let us know in the comments below.

Images courtesy of Bitfinex, Poloniex, AdobeStock

The post Bitcoin Trading at a Premium on Bitfinex and Poloniex appeared first on Bitcoinist.com.

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