submitted by GTE_IO to u/GTE_IO [link] [comments]
ShortHop, an “exchange of exchanges” for cryptocurrency trading, has launched in seven additional U.S. states.
Revealed exclusively to CoinDesk, the exchange and brokerage has opened for business in Indiana, Massachusetts, Nevada, New Jersey, Rhode Island, Arizona and Montana. The Wilmington, Del.-based ShortHop was already live in California, Washington and Illinois.
While the exchange’s parent company, technology provider Velocity Markets, is registered as a money services business (MSB) with the Financial Crimes Enforcement Network (FinCEN), ShortHop had to apply for money transmitter licenses in each state where it does business. The company also expects to be licensed in Utah and Pennsylvania next week.
As a “spot fill market,” ShortHop allows customers to transact digital asset listings from multiple order books on one screen in addition to its own orders to provide customers with the lowest price, said Velocity Markets CEO Jonathan Kelfer.
“You might find that when you go on Binance, the spot price for bitcoin is the quoted price. When you go on Gemini it’s the quoted price there as well,” Kelfer said, by way of example. “We’ll use that in aggregate to get the best price across the ecosystem.”
In this way, the company’s model resembles those of Voyager and Fidelity Digital Asset Services, both of which act as brokers, helping customers find the best deals in a highly fragmented market. The difference is that ShortHop also has its own exchange.
“ShortHop is a spot market first, but we’re aggregating liquidity across the ecosystem,” Kelfer said, adding that the service is currently plugged into a total of eight exchanges and OTC desks.
ShortHop’s organic orders get treated like any other order on the marketplace, but “the more orders, the better the price,” Kelfer said.
Skipping between assetsKelfer founded the company in the early part of the initial coin offering (ICO) boom, seeing a need for reliable American exchanges.
“It was my perspective that there wasn’t a U.S.-based presence where people could reliably base these assets,” Kelfer said. “You really had to get on some Chinese exchange, because U.S. exchanges weren’t listing most of these tokens.”
Currently, ShortHop just lists a few major cryptocurrencies. Users can acquire and trade bitcoin, ether, litecoin, bitcoin cash, XRP and Stellar lumens (XLM). ShortHop also allows customers to “hop” between these assets without having to go through multiple conversions on different exchanges. Its technology accomplishes this by cross ordering books to create synthetic pairs.
Velocity Markets is also building a digital securities exchange. It owns a broker-dealer under the legal name Distributed Technology Markets that has an alternative trading system form on file at the U.S. Securities and Exchange Commission. The company will be using the broker-dealer license to enable the digital securities exchange, but the company would not disclose when it plans to launch.
Right now, new users on ShortHop’s platform receive $25 worth of bitcoin for signing up. The platform at the moment is feeless, and Kelfer plans to subsidize retail users by offering a plug-in service to institutions who want to connect to the exchange’s capabilities.
“We’d rather do this than nickel-and-dime retail users who should have access to the same quality of infrastructure that large players do,” Kelfer said. “That’s not to say we won’t layer on fees in the future.”
Jonathan Kelfer image via Velocity Markets
The Bitcoin industry in India was once growing at a terrific rate as users were flocking to this digital currency to take advantage of its rapid price appreciation. Meanwhile, the demonetization of the Indian rupee by the country’s government a couple of years ago had led to an increase in demand for Bitcoin, but the sad news is that everything seems to be going downhill ever since. With over 30 million customers, Coinbase is the easiest and most preferred method for buying bitcoin in Indiana. The verification process on Coinbase is simple, secure and streamlined. If you need bitcoins fast, customers in Indiana are able to make instant purchases with a debit card or credit card which incur fees of 3.99% or instant purchases with bank deposits which incur fees of only 1.49%. Although many investors use cryptocurrency exchanges like Binance and Coinmama to buy bitcoin with debit card, we would not recommend it. The reason for this is that these platforms are largely ... Pay Taxes With Cryptocurrencies in Indiana. House bill number 1683 filed January 24th, asks the General Assembly of the State of Indiana to amend the current taxation Code of Indiana.. Be it enacted, the bill may approve the usage of one or more virtual currencies to pay taxes, penalties, interests, costs, special assessments, or any other liabilities which are imposed under the bill. Ein weiterer Gesetzentwurf in New Hampshire, um Bitcoin & Co. als Zahlungsmittel für Steuern zu akzeptieren, wurde ebenfalls eingereicht. Steuern mit Kryptowährungen in Indiana zu zahlen. House Bill Nummer 1683 eingereicht am 24. Januar, fordert die Generalversammlung des Staates Indiana auf, die aktuelle Steuergesetzgebung von Indiana zu ... Binance users can now buy Bitcoin with practically all of the fiat currencies in existence; Binance, which is one of the leading cryptocurrency exchanges in the world, has partnered with the peer-to-peer crypto exchange Paxful. Via this partnership, Binance users can now use 167 different fiat currencies to buy Bitcoin. The Binance exchange, which stores Bitcoin and other crypto-currencies for members, said hackers took 7,000 bitcoins in one go. Withdrawals have now been suspended on the platform. Binance Apre il Portale Fiat per la Rupia Indiana (INR) attraverso WazirX. Binance . 2019-11-25 15:58. Amici Binanciani, Pochi giorni fa Binance ha annunciato la sua acquisizione di WazirX, l’exchange di bitcoin più fidato in India. A partire da oggi, puoi comprare e vendere crypto con rupie indiane (INR) sulla Pagina Compra/Vendi Crypto di Binance. Compra/Vendi crypto con INR. Fase 1 ... A Binance adquiriu a exchange indiana de criptomoedas WazirX visando participar do mercado de mais de um bilhão de pessoas do país, conforme relatou o The Block, em 21 de novembro.. A aquisição permitirá que indianos comprem e vendam criptomoedas com as rúpias indianas, a moeda local, a partir do dia 25 de novembro – próxima segunda-feira. Binance CEO Changpeng Zhao has apologized for causing concern among the crypto community when he openly spoke about the possibility of a rollback for the Bitcoin blockchain following confirmation of a hack leading to the theft of USD 40 million worth of bitcoins on its platform.. The rollback had caused a sharp backlash, particularly among Bitcoin-only communities, aghast at the very concept ...
[index]          
=====(coinbase trading in india)===== How to buy sell Bitcoin with Indian Rupees with Binance in India Binance p2p tutorials in hindi #coinbase trading pla... Register now on binance https://goo.gl/6nHKyA For buying bitcoin whatsapp 7012011461. In this episode I'm going to talk about Binance building a crypto corridor to India. Want to support the Channel? Below you find my donation addresses and affiliate links - thanks for the support ... Bitcoin Trading Guide If You're Trading Indian Market Binance ***** More Info ***** Website Link: https://nextlevelbot.com/ Binance... Crypto-Adventures #07 - BINANCE EXCHANGE - In this video I show you how to deposit Bitcoin on to the Binance Exchange, and then how to go in to the Tron Market to buy Tron using your Bitcoin. My Second Channel: https://www.youtube.com/channel/UCvXjP6h0_4CSBPVgHqfO-UA ----- Supp... Find out How To Buy Bitcoin On Binance With Debit Card Fast? 🔶 Binance: http://theappsworld.com/link/binance (5% discount on fees!) Subscribe: https://www.yo... India's Best & Cheapest Crypto Exchange How to Buy Bitcoin in India - Duration: 6:56. Crypto India I क्रिप्टो इंडिया 5,690 views 6:56 With the rise of crypto trading in India, Binance has experienced an increasing growth in the INR Market. To support the volume we added Indian Rupees (INR) to our peer-to-peer (P2P) platform. Buy Bitcoin India - https: ... Hindi - Testing Binance P2P in India Buying and Selling Crypto with INR on Binance P2P - Duration: 30:19. Coin Crunch India 1,576 views. 30:19 . How to withdraw ...