BiboxEurope, unexpected success for Bitcoin Insta-Buy function

BiboxEurope, unexpected success for Bitcoin Insta-Buy function

Launched on August 20, the Insta-Buy feature of Bitcoin and ETH on the BiboxEurope platform was an unexpected success for the company. The 52 Bitcoin and 276 ETH made available to customers were purchased in just a few hours. For this reason, the company was forced to suspend the option for one week, to feed the accounts. Currently, the option has been reactivated.

Insta-Buy function allows users to purchase BTC and ETH with EUR and GBP using VISA and MasterCard credit cards. It has the lowest transaction fee of 2.9%, lower than those of the Coinbase and Binance exchanges.

BiboxEurope was launched in early August and is a cryptocurrency exchange platform that seems to be rapidly gaining popularity among users.

The Bitcoin price drops below $ 9500

In the last 24 hours, the price of Bitcoin has dropped from $ 10,200 to $ 9,400, after a week of consolidation. Analysts expected a change in the trajectory of evolution, but most seemed optimistic and expected a price increase.

Currently, BTC is trying to fall above the $ 9500 threshold, but the technical chart warns that if the price does not stay above the $ 9,000 support level, the next stop will be $ 8,800 or even $ 8,500.

The other cryptocurrencies also saw declines between 5 and 12%, which brought the total market valuation to 246 billion, compared with 270 billion recorded at the beginning of the week.

Crypto mining company Hut8 reports profits for the second quarter of the year

Hut 8 Mining Corp., a bitcoin mining company listed on the Toronto Stock Exchange, reported profits in the second quarter of 2019.

The company posted a net profit of $ 33.7 million (~ $ 25.3 million), and revenues increased to $ 28.3 million (~ $ 21.3 million).

“Q2-2019 represents the best quarter of Hut 8 from all points of view since we started our activity”,

said Andrew Kiguel, CEO of Hut 8.

Kiguel also said that Hut 8 implemented “significant” cost-cutting measures at the end of 2018, to ensure significant revenue this year.

Sirin Labs launches Finney smartphone in Singapore

Sirin Labs has announced the launch of the blockchain phone Finney in Singapore, where it is available exclusively through the electronic Courts network. The cryptocurrency smartphone has a crypto wallet integrated and isolated by the processor, with a “military level” security system.

Finney was designed with a secure screen that must be physically activated before the transactions are completed. The built-in Crypto wallet allows for convenient transactions, along with an exchange service that can be used without the need for a third-party platform. The price of a Finney smartphone is $ 1,899. It has an operating system developed by Sirin Labs specifically to be compatible with blockchain technology.