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BTI Report: Only Binance and Bitfinex Exchanges Are Not Falsifying Trade Volume Data

The Blockchain Transparency Institute (BTI), has released its December 2018 Exchange Volumes Report. The report goes on to state taht only two out of twenty five top cryptocurrency exchanges are actually reporting accurate trade volume. These two exchanges are Bitfinex and Binance. The rest of the exchanges are involved in wash trading that inflates their trade volume figures thus providing inaccurate information.

Evidence of Wash Trading By Some Exchanges

The report also claims that there is clear evidence of wash trading by majority of the exchanges. It states:

For our December report we’ve taken a deeper dive into specific trading pairs on exchanges which are showing clear evidence of wash trading.  This has always been our goal, however we wanted to make sure this data was as accurate as possible, so we’ve been updating and perfecting these algorithms over the past 3 months.

During this time, we have spent countless hours watching order books, analyzing volume data points, and speaking with market makers, high frequency traders, and trade surveillance consultants. We have collected an enormous amount of data and we now feel confident to begin releasing these figures…

Included in this report we have calculated the true volume of the CMC top 25 BTC trading pairs. Most of these pairs actual volume is under 1% of their reported volume on CMC. We noted only 2 out of the top 25 pairs not to be grossly wash trading their volume, Binance and Bitfinex.

Wash Trading is a form of market manipulation in which an investor simultaneously sells and buys the same financial instruments to create misleading, artificial activity in the marketplace.

Below is a screenshot from the report showing which exchanges are practicing wash trading.

List of exchanges and their real volume. Source, BlockchainTransparency.org

Summary of the Report by BTI

The report has highlighted the following:

  • 4 different bot strategies are used to inflate exchange volume numbers. These bots are set at different trading pairs depending on the time of day. Settings are constantly changed based on current volume trends and hype around a specific token
  • The top 25 Bitcoin trading pairs on Coinmarket Cap is under 1% of their reported volume
  • Only Bitfinex and Binance exchanges are not practicing wash trading
  • OKEx’s top 30 tokens are engaged in wash trading. The exchange has benefited the most from Coinmarket Cap’s referral traffic. By adjusting the volume of OKEx, the exchange still manages to be in the top 10 according to trade volume
  • Huobi is also wash trading its top 25 pairs but to a lesser degree than OKEx
  • HitBTC is wash trading its top 25 pairs
  • Bithumb is wash trading Monero, Dash, Bitcoin Gold, and ZCash. Wash traded tokens on Bithumb appear to change depending on the month
  • Listing fees are big business with the average project spending over $50,000 to get listed
  • The team at BTI has compiled an advisory list of exchanges that they believe are wash trading and benefiting from listing fees. The list can be found here

Conclusion on Wash Trading

The report concludes the following about the wash trading activities.

Based on this data over 80% of the CMC top 25 BTC pairs volume is wash traded. These exchanges continue to use these strategies as a business model to steal money from aspiring token projects.

Advice to Projects Planning on Finding an Exchange to List their Tokens

The report advised projects planning to have their tokens listing on exchanges:

We advise any token project to contact us regarding any exchange requesting large listing fees, especially those on our Advisory List.

Many of these exchanges exist solely to collect these fees while their bots run their exchanges.

We also have data on fair listing fee costs for exchanges which are not using wash trading bots. We’ve had reports on fees ranging from 2BTC up to 75BTC.

Methodology of the BTI Reports

The BTI reports have evolved from simply focusing to web traffic, to now include data collected from exchanges on mobile app usage and API trading. For the December report, the team at BTI has also explored specific trading pairs on exchanges.

What are your thoughts on the new report by Blockchain Transparency Institute that states that only 2 major exchanges are actually reporting accurate trade volume? Do you think that the report is accurate? Please let us know in the comment section below. 

Disclaimer: This article is not meant to give financial advice. Any additional opinion herein is purely the author’s and does not represent the opinion of Ethereum World News or any of its other writers. Please carry out your own research before investing in any of the numerous cryptocurrencies available. Thank you.

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BTC Hodlers Propose to Withdraw All Their Bitcoins From Exchanges as a New Tradition

A new initiative seems to be gaining strength in the Bitcoin user community after Trace Mayer, investor and host of The Bitcoin Knowledge podcast, proposed to each user, hodler, and trader to join in celebrating the Bitcoin Genesis Block creation day by running a proof of keys.

For Mr. Mayer, the best way to celebrate this day is with a kind of “friendly activism,” withdrawing funds from all exchanges, custody services and similar that do not give users control over their private keys.

Not Your Keys, Not Your Bitcoins

Mayer is a fervent advocate of the motto “not your keys, not your bitcoins.” With this massive action, he hopes to raise some awareness of the true philosophy of the cryptocurrencies, while helping to alert the population about the dangers of giving such control to third parties despite the convenience and security that these services guarantee.

In a tweet posted on his account on December 9, Mayer expects thousands of people to join the initiative on January 3, 2019, a day on which there will also be a network consensus. Mayer hopes to repeat this experience each year as a “new Bitcoin cultural tradition.”

An Initiative That Has Sparked Positive Reactions

The creators of this initiative believe that services that deprive users of control over their private keys go against Bitcoin’s original vision. On the website created to promote this initiative, Satoshi Nakamoto himself is quoted as explaining that bitcoin’s solidness lies precisely in the fact that with it, a user does not need to give control to third parties over his money or assets.

“What is needed is an electronic payment system based on cryptographic proof instead of trust, allowing any two willing parties to transact directly with each other without the need for a trusted third party. – Satoshi Nakamoto”

Notable people from the ecosystem have joined the initiative, and the community has reacted positively.

So far, none of the third-party services have issued any statements. There are no relevant predictions about the impact of this measure or the welcome it will have, but the positive comments and enthusiasm shown in the responses to Mayer’s tweet are noteworthy.

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Bitcoin (BTC) Price Conversation Missing the Point

Bitcoin (BTC), Cryptocurrency–With the crypto markets continuing to slip into December, with Bitcoin and altcoins hitting their new relative low for the year, the tone surrounding the industry of cryptocurrency has made a decided shift towards the negative. While crypto, particularly the investment landscape, has become a punching bag throughout the year, with the bear market extending into the final month of 2018, the situation has never been seen as dire as what has transpired in the past several weeks.

Traditional, financial media outlets such as Bloomberg and CNBC have regularly covered the market shifts, but are now beginning to take an almost gleeful interest in the demise of Bitcoin and cryptocurrency. The language towards the digital asset has shifted from “I told you so” to personal attacks against investors, with the aggressors positioning themselves on a false pedestal of authority. However, while these outlets are justified in their criticism and reporting on the continued price fall for crypto, they ultimately contribute to the number one problem plaguing the industry at present: an incessant focus on price movement, price predictions and the 24-hour trading cycle of crypto–and the average investor and enthusiast is as much to blame.

Cryptocurrency is in free fall for the primary reason that expectations outpaced realistic performance, with the money being poured into the industry throughout 2017 and the beginning of this year being an exponential reflection of that disconnect. While many have found novelty in using Bitcoin as an alternative form for digital transactions, storage of value and other wealth safeguarding, the limitations of the technology failed to meet the anticipation of user needs.

When transactions fees and wait times for BTC soared in the first month of 2018, newcomers to crypto were left scratching their head over the hype they had bought into. The result was just one facet of uncertainty introduced into the market that led to the collapse, like a house of cards, that was built on a series of shaky propositions. For one, the media had inundated the public with stories of overnight millionaires–and billionaires–being minted by Bitcoin and cryptocurrency, a narrative that investors were all too eager to buy into with coin prices rising four-digit percentage points on the year.

Again, expectation and speculation created the bloated market conditions that in no way could have been reasonable for the present level of adoption and advancement for the technology. It would be akin to saying that pre-dot.com websites deserved the same stock valuation and outlook as today’s landscape for Google and Facebook.

However, the greatest failure on behalf of supporters of cryptocurrency came in the form of allowing the technology become hijacked by the emphasis on price. When Ethereum’s Vitalik Buterin made the claim that all centralized exchanges should burn in hell, he was in part criticizing an industry that is beholden to price speculation, driven through the activity of investors on exchange. Few care to delve into the depth of cryptocurrency, the layers to the technology, and the implications for the world that extend beyond “digital money.”

With Bitcoin having been declared dead hundreds of times before, it’s difficult for anyone to correctly predict that this is the ultimate end for the number one cryptocurrency by capitalization. However, if there is a path forward for cryptocurrency, it lies in not just a reset of market prices, but investor and user expectations, with an emphasis on building use for the technology that exceeds value.

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Coinbase Introduces Free Cash Withdrawals to PayPal for its U.S Customers

On the 5th day of the 12 Days of Coinbase event, the team at the exchange has announced that its customers in the United States can now withdraw cash balances to PayPal at zero cost. This new feature is available immediately and is aimed at providing users with faster access to their funds through the time tested PayPal platform. As earlier mentioned, there will be no fees incurred for withdrawing to PayPal.

This new method is an alternative to the only available method of withdrawing to a bank account. This usually takes days. The team at the exchange explained this as follows:

PayPal offers U.S. customers an alternative. Before today, you needed an ACH or Federal Wire account to withdraw funds. These traditional finance networks can add up to two business days to a withdrawal.

We’re always looking for ways to not only meet the bar set by traditional finance, but raise it. That’s why we rebuilt our integration to ensure that the speed and reliability of PayPal withdrawals does just that.

How to Set Up PayPal Withdrawals

Users of the exchange simply have to log in to the platform and link their PayPal accounts to their Coinbase accounts. After that, users need to select their PayPal account as a payment option when withdrawing funds.

PayPal Withdrawals in Other Countries Outside the US

The team at the exchange also notified users that PayPal withdrawals in other countries where Coinbase is available, will be rolled out in 2019.

7 Days Left in the 12 Days of Coinbase Event

This PayPal announcement marks the 5th day of the 12 Days of Coinbase Event that the exchange has organized for its customersas we approach Christmans. The event includes the exchange making announcements that cater for the needs of its loyal customers.

Crypto traders are particularly keen to find out if the exchange will list more digital assets in the coming days. Of particular interest to many traders, are the digital assets of XRP, Stellar (XLM) and Cardano (ADA).

Many crypto traders believe that a listing on Coinbase for these 3 digital assets, would be the perfect Christmas present that will send their values to a higher level.

What do you think about the new Coinbase withdrawal feature to PayPal now available for US residents? Will it make cashing out easier? Please let us know in the comment section below. 

[Image courtesy of @Coinbase]

Disclaimer: This article is not meant to give financial advice. Any additional opinion herein is purely the author’s and does not represent the opinion of Ethereum World News or any of its other writers. Please carry out your own research before investing in any of the numerous cryptocurrencies available. Thank you.

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Germany’s 2nd Largest Stock Exchange to Launch a Crypto Exchange by Q2 2019

Germany’s Boerse Stuttgart Group, in collaboration with solarisBank, is developing the system for a crypto trading platform that is set to launch in the first half of 2019. According to the announcement by Boerse Stuttgurt Group, solarisBank will provide the exchange with the necessary banking services.

Alexander Höptner, CEO of Boerse Stuttgart GmbH, had this to say about the new venture.
With its combination of technology and banking expertise, solarisBank is a great partner for us to offer central services along the value chain for digital assets. solarisBank’s Blockchain Factory supports us in taking trading in crypto currencies and tokens to the next level and in setting new standards in transparency and reliability.
Roland Folz, CEO of solarisBank, added the following:
Boerse Stuttgart Group and solarisBank share the ambition to shape the future of the financial industry. A reliable and performant trading venue is a fundamental contribution to our shared vision of a hybrid financial world with both fiat and crypto currencies. We are very pleased that Boerse Stuttgart Group chose our Blockchain Factory around Peter Grosskopf and Michael Offermann as its trusted partner

Possible ICO Platform

The team at Boerse Stuttgart will first be offering the trading of established cryptocurrencies such as Bitcoin (BTC) and Ethereum (ETH). There is also an ICO platform being developed that will allow for the trading of issued tokens. It is not clear if the tokens will be treated as securities or continue being traded as cryptocurrencies.
Private and institutional investors will be able to trade on the platform that will also have open order books to provide real-time information about existing orders. This will in turn give a clearer view of current market situations at all times. The new trading venture is seeking to be regulated as a Multilateral Trading Facility (MTF).

About Borse Stuttgart and solarisBank

Borse Stuttgart is the second largest stock exchange in Germany. The firm offers the trading of traditional investment assets such as equities, securitised derivatives, bonds, investment fund units and profit participation certificates. Boerse Stuttgart is ranked tenth among European exchanges with a trading volume of € 81 billion across all asset classes in 2017.

SolarisBank is the first Banking-as-a-service platform. It has a full banking license and allows companies to offer their own financial products through them. Founded in 2016, the bank provides a highly developed ecosystem for fintechs, companies, banks and corporations.
What are your thoughts of a new crypto exchange by a major leading stock exchange in Europe? Please let us know in the comment section below. 

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$133 Million Stablecoin Project of Basis is Reportedly Shutting Down

The Basis stablecoin project which had raised over $133 Million in venture capital, is reportedly shutting down and returning a vast majority of the funds to investors. Unlike other projects shutting down due to the bear market, Basis is shutting down due to regulatory hurdles as it tried to get the stablecoin project up and running. Backed by Bain Capital Ventures, GV, Andreessen Horowitz, Lightspeed Ventures, Stanley Druckenmiller, Polychain Capital and more, Basis was meant to usher in a new era of stablecoins through its one of a kind algorithm. No official announcement has been made by the team at Basis at the time of writing this.

How the Basis Algorithm Was Designed to Work

The Basis platform was going to be a unique one in the sense that it had three entities: the stable coin, bond tokens and base shares. The Basis coin would be core to the system and pegged to the USD. The Bond tokens would be auctioned off by the blockchain when it needed to contract Basis supply (inflation). These tokens would not pegged to anything. One Bond token would promise the holder exactly one Basis at some time in the future and would be sold at a discounted price.

The third type of token – base shares – would be of a fixed supply and not pegged to anything. Their value would be based on the dividend model. When demand for Basis went up and new coins were created to meet demand (deflation), the holders of the base shares would receive these newly minted Basis coins pro rata so long as all outstanding Bond tokens had been redeemed.

More on how the algorithm was designed to work can be found in the project’s whitepaper that is available online.

Regulatory Hurdles With Such a Concept

Further studying the algorithm and the whitepaper, one can connect the dots and conclude that what the Basis project was trying to do, is eerily similar to the job of a Central Bank.

Nevin Freeman, CEO of Reserve.org, explained why the additional tokens might have caused more regulatory hurdles:

In many cases, these secondary “share” or “bond” tokens are securities. This means that they are only purchasable by accredited investors in the US, and similar restrictions apply elsewhere. They could be traded by retail investors in the future, but that may take a very long time for the SEC to approve.
 
Since there is only a small set of people who can buy these “share” or “bond” security tokens, protocols based on this mechanism may be at risk – if nobody wants to buy these tokens when the stablecoin is trading below the pegged price, the peg will just stay broken.
What are your thoughts on the Basis stablecoin project shutting down? Please let us know in the comments section below. 
[Image courtesy of Medium.com/Reserve-Currency]

Disclaimer: This article is not meant to give financial advice. Any additional opinion herein is purely the author’s and does not represent the opinion of Ethereum World News or any of its other writers. Please carry out your own research before investing in any of the numerous cryptocurrencies available. Thank you.

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Bitcoin (BTC) Stable At $3,400: Analyst Compares Crypto With Dotcom Bubble

Bitcoin Stable At $3,400, Altcoins In Similar Position 

Interestingly, after a multi-week bout of lower lows, the crypto market at large stabilized on Tuesday and Wednesday, as Bitcoin (BTC) found itself trading in a tight range between $3,300 and $3,500. Since Ethereum World News’ previous market update, released not 24 hours ago, the aggregate market capitalization of all cryptocurrencies has barely budged, up by $1.4 billion (~1.2%) to $111.39 billion in comparison to yesterday’s $109.9 billion.

Like crypto asset values, volumes posted by exchanges have begun to slow, with 24-hour volumes per Live Coin Watch amounting to $5.9 billion, down $1 billion from the $6.9 billion tallied by the platform yesterday. CoinMarketCap statistics have echoed the dissipation of volume, as its 24-hour volume statistic has fallen from $13 billion to $11 billion, where it remains now.

Although BTC underwent a small uptick on Tuesday night/Wednesday morning, with the asset moving as high as $3,460 on Coinbase, Bitcoin has been relatively laid back, failing to break out or fall throughout any key levels of support or resistance. Many eyes are looking to BTC’s year-to-date lows, and the resistance situated at $4,000 as levels of interest.

At the time of writing, Bitcoin has found itself at $3,380 on Coinbase and $3,440 as a global average, making it clear that the asset has found a semblance of stability in the $3,400 range. BTC is currently 0.57% in the past 24 hours.

XRP, Ethereum (ETH), and Litecoin (LTC) followed BTC with precision over the past day, posting gains that were all under a mere 1%. Notable outliers included EOS, which posted a 4.13% gain after a dismal week, Bitcoin Cash (BCH) and Bitcoin SV (BSV) — as the two both lost 2% — and Tezos (XTZ), as the asset surged by 15.42% presumably due to the fact that Huobi Global announced support for the up-and-coming network.

Analyst Compares Crypto To Nasdaq Boom (And Bust)

Speaking with MarketWatch’s William Watts, the outlet’s deputy markets editor, Russ Mould, an investment director at British investment platform AJ Bell, drew lines between the Dotcom boom at the turn of millennia to 2017/2018’s crypto boom & bust.

Mould claimed that crypto’s performance throughout 2018 “looks like many that we’ve seen before across a wide range of asset classes,” adding that the status of the market today propagates “vicious bear traps,” sending crypto “HODLers” even further into the ground. He explained that the Nasdaq, in the midst of its collapse in 2003, tried to break out multiple times, but failed miserably — not too different than Bitcoin’s stints at $10,000, $6,200, and $3,500 today.

Mould isn’t the only analyst to make such connections between two of history’s largest bubbles. In a post titled, “What Bear Markets Look Like,” Twitter angel investor Fred Wilson, who heads Union Square Ventures, noted that just like technology stocks in 2002/2003, cryptocurrencies have posted a more than 80% loss in a year’s time.

The prominent investor added that cryptocurrencies, even BTC, could head lower from here. Giving his statement some rationale, Wilson explained that once Amazon (AMAZ) declined to 20 percent of its all-time high, the then-startup saw its public valuation experience another 50 percent haircut, summating to a jaw-dropping 90 percent loss.

AMAZ’s debacle in the early 2000s may have been nothing but a blip on its multi-decade chart, but Wilson, a Bitcoin believer himself, is visualizing how cryptocurrencies could fall further, even while they have ground-breaking potential and seemingly endless upside.

Still, Wilson, a legendary venture capitalist, ended his aforementioned blog post with an optimistic tone, writing:

“I think some crypto asset (and possibly a number of crypto assets) will have a price chart like Amazon’s current one in 18 years. But we will have to do what Amazon did, hunker down and build value and survive, for quite a while to get there. And I think things will get worse before they get better.”

Title Image Courtesy of Alejandro Alvarez on Unsplash

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Bitcoin (BTC) Leads Google Trends Most Commonly Asked in 2018

Bitcoin (BTC), Cryptocurrency–While market prices continue to look shaky for cryptocurrency and the broader altcoin market, Bitcoin managed to score a minor win on the day. According to the analytics trending tool published by Google, “What is Bitcoin?” was the most searched phrase for the question-asking category for 2018. Both United States and United Kingdom Google users searched for information about the number one cryptocurrency by market capitalization more than any other topic, giving an indication that–while some would proclaim the technology a bubble in the process of bursting–there still remains interest in the field of cryptocurrency.

Rounding out the top five included “What is racketeering,” “What is DACA,” “What is a government shutdown” and “What is Good Friday.” Bitcoin’s top position for Google’s rankings comes at a time when the currency is experiencing its relative lowest point for the year. Last week EWN reported on the state of the crypto markets in 2018, with BTC experiencing its worst monthly loss in November since August 2011. The price fall for Bitcoin comes at the tail end of an already bearish year for cryptocurrency, seeing the entire market capitalization tumble from over $800 billion to its present value of $110 billion.

Bitcoin, in particular, has ceded its share of losses, dropping from close to $20,000 at the end of December 2017 to today’s trading price of $3500. While some analysts have pointed to indicators that BTC and the crypto markets may be entering oversold territory, with a potential bounce coming for investors, others have pointed to a much dire future for crypto into next year.

News of search interest for the cryptocurrency is a welcomed sight for investors amidst the price fall, with many claiming a fundamental lack of understanding by the general population for being a catalyst to Bitcoin’s recent price drop. As opposed to learning about the technology and the potential for cryptocurrency, investors through money at BTC, altcoins and ICOs with abandon throughout 2017’s bull run, leading to the bloated market prices to start the year that would inevitably lead to the crash.

With the conversation shifting from the daily price movement of Bitcoin and the money to be made from investing in the digital asset, industry enthusiasts are hoping to garner more focus on the development and adoption for the technology. Last year saw “blockchain” and “cryptocurrency” become to buzz words, similar to the social media and app-development frenzy in the early part of this decade, which fueled unrealistic expectations for the industry. Bitcoin, as a technology, was unprepared to handle the influx of consumers, which led to the service becoming nearly unusable with skyrocketing transaction fees and unacceptable confirmation times. Detractors of the digital asset quickly latched onto the flaws of the currency under high network stress, leading to a negative shift in sentiment for the viability of cryptocurrency and contributing to the growing investment uncertainty.

With the market turned at the start of the year, it did so with equal ferocity to the bull run which ended 2017. Now, entering the final month of 2018, the majority of currencies are sitting on over 90 percent losses since their last all time high, with most financial analysts calling for further crypto blood and claiming that the bubble has finally popped.

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7 Major Exchanges Join Forces to Enhance the Cryto Ecosystem in South Korea

South Korea took another giant step forward in regulating cryptocurrencies as seven major exchanges have joined forces to enhance the cryptocurrency ecosystem in the country. According to local media, representatives of the seven major exchanges met at a parliamentary policy debate on cryptocurrencies that was held this past Monday. The representatives signed an ‘Agreement for the creation of a sound cryptocurrency ecosystem’.

The agreement included joint measures such as information sharing, real-time monitoring of abnormal transactions in a bid to prevent cyber crime as well as protect investors. The seven cryptocurrency exchanges that agreed to the new measures are as follows.

  1. Upbit
  2. Bithumb
  3. Korbit
  4. Coinone
  5. Gopax
  6. Coinplug (Cpdax)
  7. Hanbitco

The exchanges are also to establish a consultation system that will prevent money laundering, enhance KYC procedures and introduce some restrictions for transactions belonging to unverified users.

One industry official is quoted as calling it a close cooperation system:

With this agreement, exchanges can establish a close cooperation system and improve their image for investors, but in fact, there is no special penalty for failing to comply.

Lee Seok-Woo, president of Dunamu Inc., which handles all operations relating to the Upbit exchange, had stated a while back, that AML/KYC (anti-money laundering / know-your-customer) procedures were mandatory for every exchange that wished to operate in the country.

If you [crypto exchange] cannot meet the standard after a six-month or one-year grace period, you should close it.

South Korea On Track To Regulate Cryptocurrencies and ICOs

Back in June this year, regulatory officials from South Korea had stated that crypto exchanges would soon be regulated in the same way they regulate banks. The regulation shall be carried out by the Korea Financial Intelligence Unit (KFIU) in collaboration with other local financial regulators. With respect to ICOs, the country had promised to issue regulatory direction as soon as legislation was ready.

Kwon Dae-young, Head of the Financial Innovation Bureau at the Financial Services Commission (FSC), further explained the steps the country is taking towards regulating the ICO and cryptocurrency industry.

We are trying to institutionalize cryptocurrency exchanges, but before we do, we have to answer the question of how to deal with the damage and tears of many virtual currency investors.

We must see if any of the projects that can help the people in their daily lives have been presented. Trust and authenticity are important.

What are your thoughts on the seven cryptocurrency exchanges joining forces to better enhance the cryptocurrency trading ecosystem in South Korea? Please let us know in the comment section below. 

[Image courtesy of Bitcoinist.com]

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Samsung Could Be Developing a Bitcoin (BTC) and Crypto Wallet App for The Galaxy S10

News reaching Ethereum World News from The Block and SamMobile.com indicate that the giant electronics and smart-phone manufacturer of Samsung, might be working on integrating a Bitcoin (BTC) and cryptocurrency wallet into its unreleased Galaxy S10 device.

According to SamMobile, Samsung’s new cryptocurrency service will have two parts:

  1. A cold wallet for saving cryptocurrency, public and private keys as well as signing private keys for cryptocurrency transactions

  2. A crypto wallet for transfers, viewing account information and transaction history

The phone manufacturer is yet to provide any official details about the new cryptocurrency service that will be launched with the anticipated new device. The name of the cold and crypto wallet has also not been provided at the moment of writing this.

Samsung Files for Crypto Trademarks in the European Union

News of a possible cold wallet and crypto wallet in the unreleased S10 devices comes after the electronics giant also filed for applications for three blockchain-related trademarks for its smartphones in the European Union. The applications were made 2 days ago and are for Blockchain KeyStore, Blockchain Key Box and Blockchain Core.

Samsung Galaxy S10 Launch Date

The Samsung Galaxy S10 has been subject to leaks of its design and features since the S9 was launched back in February this year. According to Gizmodo, the S10 will be launched on the 20th of February 2019 at the Mobile World Congress to be hosted in Barcelona, Spain. The phone will be available for pre-order soon after the event and available in retail stores as early as March 8th, 2019.

Gizmodo also added that there will be three versions of the device: the regular version, a plus version, and a flat version. The S10 will also include the following impressive features:

  • In-screen fingerprint scanner based on Ultrasonic technology
  • ‘Punch hole’ style selfie cam cutout
  • Three rear cameras
  • One UI over Android Pie

What are your thoughts on the possibility of the unreleased Samsung Galaxy S10 smartphone having a Bitcoin and crypto wallet? Does this surprise you that the smartphone company would be exploring such additonal features? Please let us know in the comment section below. 

[Samsung S9 Image courtesy of Androidpit.com]

Disclaimer: This article is not meant to give financial advice. Any additional opinion herein is purely the author’s and does not represent the opinion of Ethereum World News or any of its other writers. Please carry out your own research before investing in any of the numerous cryptocurrencies available. Thank you.

The post Samsung Could Be Developing a Bitcoin (BTC) and Crypto Wallet App for The Galaxy S10 appeared first on Ethereum World News.