Crypto News – A new Crypto scam, Credit Cards ban Crypto, Bitgrail exchange hack, Coinbase launched new commerce plugin
Update: 2018-02-12
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Show Notes
CryptoCurrency Phishing Scam – Another cryptocurrency scam where phishing sites are setup to imitate real sites and steal users crypto.
Senate hearing – overall positive outlook for cryptocurrency.
BitGrail exchange owner report hack of almost 17 Million Nano being lost. BitGrail is an Italian based exchange that was the first exchange for RaiBlocks now know as Nano.
There were several strange incidents that raised questions about the reliability of the exchange such as users reporting negative balances of crypto, The ability to withdraw more than they have. Based on the owners behaviors (exchange maintenance, daily withdraw limits, stopping withdraws, requiring KYC validations, etc.
The devs of Nano appear to be taking a backseat and distancing themselves from this now. I understand not wanting to be part of this, however they did recommend using the exchange months back. Some people lost a little, others lost small fortunes.
Lessons learned, don’t keep your currency on an exchange and realize that crypto is still the wild wild west.
Several credit card companies now ban buying crypto. Bank of America, JP Morgan Chase, and Citigroup are a few that banned crypto purchases. Some people are also reporting their banks issuing statements that also block crypto.
I realize CC companies want to limit their exposure to customers that have a tendency to go overboard. Credit cards are restricted for use in most if not all Casinos for example. I personally don’t like the idea of them deciding where I can use it, however it’s really not my money until I pay it off. They are just protecting themselves.
Banks on the other hand I don’t agree at all. Fortunately my bank has not restricted my purchases, however if it does I will be moving to another bank. As a side note I started reading a book called the creature from jekyll island.
Coinbase launched new commerce plugin. They have had API options before, however launched what appears to be an easier way to integrate your ecommerce site and accept crypto
Not accepting new users now, but can join waitlist
I continue seeing small ecommerce sites starting to accept cryptocurrency. This type of example continues to push the adoption of cryptocurrency forward.
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