Earlier today, Blockchain, one of the largest Bitcoin wallets around the world announced that they are introducing buying/selling of Bitcoin and other crypto currencies for its users.
Earlier today, we announced a partnership with SFOX that lays the groundwork for our users in the US to seamlessly buy and sell digital assets with greater reliability and without compromising user security or control.
At Blockchain, we are on a mission to build an open, accessible, and fair financial future, one piece of software at a time. This announcement brings us one step closer to realizing that mission by making the exchange of digital assets fast, easy, and inexpensive for millions of users across the US.
Starting today, users in 22 states will have the option to sell bitcoin quickly and easily.
And this is just the beginning; in the coming weeks, users will also be able to buy bitcoin, and buy and sell other assets like ether and Bitcoin Cash. As always, we’ll keep you posted while we roll out these features. In the meantime, we welcome your thoughts on how we can continue to improve.
Not in the US? Users in Europe and India are already able to buy and sell bitcoin. As we continue to expand to new countries
Blockchain targeting Coinbase
From Thursday, Blockchain’s U.S. users will be able to sell their bitcoin, with the buying function coming at a later date.
Many users in the U.S. have complained about services that offer cryptocurrency trading, citing issues around being able to withdraw money or get liquidity. Given that backdrop, Peter Smith, CEO of Blockchain, said it’s better to start with just offering a sell service as it helps to control the launch in the U.S. and make sure people have a good experience.
“If we are prioritizing short-term gains, we would prioritize buy ,that is what most people have done. But it’s really time to make sure we nail that experience,”
Smith said that “in a few weeks” Blockchain will add other cryptocurrencies to its platform to buy and sell.
Is Toronto Next to Accept Bitcoin for Property Taxes?
Toronto is the biggest city of Canada with a population of more than 6 million. It’s also one of the leading global financial centers which makes it an attractive place for investors.
Bitcoin has emerged as the leading cryptocurrency in the world and attracted a lot of attention from financial investors. There are many crypto exchanges and investors in Toronto, which makes it an important destination for crypto startups and investors.
Recently, there has been a surge in usage of Bitcoin in the Real Estate world as lot of companies around the world are now accepting Bitcoin for buying and selling of properties. In April 2019, Innisfil, A town located in Ontario, at a distance of about 1 hour drive from Toronto, announced that they will accept Bitcoin for property taxes at the municipal level. In July this year, Richmond Hill announced that they are ready to accept Bitcoin as a payment method for property taxes.
Evan Kuhn, Co-Founder of a Toronto based crypto exchange Coinberry believes that integration of Bitcoin as a payment method for property taxes in Toronto can reduce cost, not only for tax payers, but for municipalities as well. Kuhn mentioned
“It doesn’t cost homeowners to use the service, and it costs the municipalities far less in processing fees”
“A credit card company charges a 3% fee,” he said. “Our fee is .5%, so that’s a lot more beneficial for the municipalities.”
He further explained the entire process to make it simple for the users and for the authorities. “When a resident makes a payment through our exchange, the company immediately converts the Bitcoin into Canadian Dollars and pays the relevant authority, so in basic concept this entire process works like a credit card system but with lower fee for both parties”
Morning Crypto Roundup
- Crypto market entered into a consolidation phase, with market cap at around $265 billion, market is currently trading in a range
- Bitcoin stays above $10,000
- Gray scale reported in a recent report that there are 7.1 million active Bitcoin users worldwide with more than 32 million Bitcoin wallets.
- After Innisfil and Richmond Hills, is Toronto next to explore an opportunity to pay property taxes through Bitcoin?
- According to a report from CryptoCompare.com, Untrusted crypto exchanges are dominating the crypto volume with more than 2/3 share