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Abra Simplifies Cryptocurrency Investing With New Crypto Index Accessible To Everyone, Everywhere

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Bitwise 10 Crypto Index Token

SAN FRANCISCOOct. 3, 2018 /PR Newswire/ — Abra, the first and only all-in-one cryptocurrency wallet and exchange, today announced the ability for anyone, anywhere to invest in BIT10, a new token that tracks the professionally-managed Bitwise 10 Large-Cap Crypto Index through a partnership with San Francisco-based Bitwise Asset Management, the leading provider of cryptocurrency indexes.

The Bitwise 10 Crypto Index Token (BIT10), listed exclusively on Abra, gives investors a simple way to get exposure to a set of the 10 largest assets that currently make up 80% of the cryptocurrency market. This set is screened according to Bitwise’s rigorous and transparent index methodology, which ensures assets meet liquidity, security, and robustness requirements. Each month, the set of 10 coins is rebalanced by Bitwise, adding and removing coins to adjust to the constantly changing market.

Starting today, anyone around the world can invest in the new BIT10 token through the Abra app. There’s a low $5 minimum, no restrictions on when you can buy or sell, and no fees on transactions. The BIT10 gives retail investors a simple way to benefit from the diversification and rebalancing of index investing.

“We created the BIT10 token to allow greater access to cryptocurrency investing by making the experience simple and accessible,” said Bill Barhydt, Abra Founder and CEO. “Through partnerships like this one with Bitwise, Abra has created an unprecedented opportunity for the everyday person to start investing in crypto.”

“Index investing is extremely popular in stocks, bonds, and crypto because it gives investors diversified exposure without having to constantly monitor news and try to predict which assets will be most valuable,” said Bitwise CEO Hunter Horsley. “So far in the crypto space, index investing has only been available to institutions and accredited investors. We’re thrilled for that to be changing today with the BIT10 on Abra, which is available to anyone.”

How BIT10 Token Works

BIT10 is only accessible through the Abra app. The cost of each BIT10 token reflects the value of the 10 coins in the index. Like other cryptocurrencies, BIT10 can be purchased in fractional amounts, so investors can decide which amount works best for them and enjoy low minimum buy-ins ($5).

The price of each BIT10 token is based on a real-time price feed of the Bitwise 10 Large-Cap Crypto Index provided by Bitwise. The methodology of the index is publicly available to read and is actively maintained by Bitwise. The composition of the assets in the index, and subsequently the exposure of the BIT10, is rebalanced on a monthly basis in accordance with the methodology’s rules which include a variety of requirements related to liquidity, security, and trading volume. The composition of BIT10 will be published on Abra and will reflect the monthly rebalancing update of the index by Bitwise.

AbraUsing Abra’s successful stablecoin model on the backend,  BIT10 positions are held in multi-signature smart contracts on the Bitcoin or Litecoin blockchain. Once invested, Abra and the user are entering into a smart contract that effectively pegs the asset invested  (either fiat currency or cryptocurrency) to the same amount of BIT10 tokens. Abra will get a real-time price feed from Bitwise Asset Management (again according to their published methodology) and the BIT10 investor will see the market up or down reflected in the price of their BIT10 tokens.

This method of using smart contracts to peg asset values to one another is a proven technology that is what currently powers the backend of the Abra app. Now, instead of trading fiat currency for cryptocurrency or for other synthetic currencies, BIT10 investors can use the same technology to easily invest in larger portions of the crypto market, all through one crypto asset.

Another big advantage to Abra’s technology is that it is all based on a non-custodial wallet, which cuts out the need for third parties and gives the user more control.

How to Invest in BIT10

Getting started with Abra is easy. Simply download the app from the Google Play or Apple Store and set up an Abra wallet. From there, users can fund the wallet via bank transfer, credit card or other crypto assets to get started. Once funds have been added, start investing in BIT10 or any of Abra’s 28 supported cryptos.

Readers should do their own due diligence before taking any actions related to the company, product or service. BitcoinAfrica.io is not responsible, directly or indirectly, for any loss or damage caused by or in connection with the use of or reliance on any content, product or service mentioned in this press release.*

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Chainalysis Partners with Binance to Tackle Global Cryptocurrency Money Laundering

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NEW YORKOct. 17, 2018 /PRNewswire/ — Chainalysis, the leading provider of cryptocurrency compliance and investigation solutions, has completed a global roll-out of its compliance solution with Binance, the world’s largest cryptocurrency exchange by trade volume, to help address the challenges at the intersection of cryptocurrencies, regulators and traditional financial institutions.

“Cryptocurrency businesses of all sizes face the same core challenge: earning the trust of regulators, financial institutions and users,” said Jonathan Levin, Co-Founder and COO of Chainalysis. “We expect many to follow Binance’s lead to build world-class AML compliance programs to satisfy regulators globally and build trust with major financial institutions.”

BinanceChainalysis’ compliance software, Chainalysis KYT (“Know Your Transaction”), is the only real-time transaction monitoring solution for cryptocurrencies. The software uses pattern recognition, proprietary algorithms and millions of open source references to identify and categorize thousands of cryptocurrency services to raise live alerts on transactions involved in suspicious activity.

“By working with Chainalysis, we are able to continue building a foundational compliance program that enables the next phase of our growth,” said Wei Zhou, CFO at Binance. “Our vision is to provide the infrastructure for a blockchain ecosystem and increase the freedom of money globally, while adhering to regulatory mandates in the countries we serve.”

This best-in-class solution enables cryptocurrency businesses and financial institutions to comply with Know Your Customer (KYC) and Anti-Money Laundering (AML) regulations, while simultaneously making it easier for companies supporting cryptocurrencies to open bank accounts.

In April, Chainalysis secured $16M in Series A funding led by Benchmark to deploy Chainalysis KYT and expand its coverage of cryptocurrencies. It serves over 150 of the world’s leading cryptocurrency businesses, financial institutions and government agencies.

*Readers should do their own due diligence before taking any actions related to the company, product or service. BitcoinAfrica.io is not responsible, directly or indirectly, for any loss or damage caused by or in connection with the use of or reliance on any content, product or service mentioned in this press release.*

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Abuja Blockchain & AI Round-Table Conference 2018 To Be Held On October 19-20

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Abuja Blockchain & AI Round-Table

We are happy to announce that the first edition of Abuja Blockchain & AI Round-Table: Beyond Cryptocurrencies will be held from the 19th-20th of October, 2018 at Ladi Kwali Hall, of Sheraton Hotels, Abuja, Nigeria.

This is a hybrid Conference of Value and Innovation, featuring a melding of the Artificial Intelligence (AI) and Blockchain communities in Nigeria and across the world, exploring the enormous possibilities at the intersection of these two technologies. Attendees will garner actionable, practical insight that can be applied almost immediately thereby kick-starting their entrepreneurial pursuits.

The Conference will bring together business leaders, government and regulatory agencies, data practitioners, AI and Blockchain tech pioneers who are applying artificial intelligence to solve today’s problems and creating tomorrow’s opportunities, while leveraging available tools, to create entirely new values.

buy bitcoin in nigeriaOur goal at Abuja Blockchain & AI Round-Table is to provide a common framework for thinking about what the convergence of Blockchain and AI means to Nigeria’s economic prosperity agenda. We aim to bridge the knowledge gap by providing government functionaries, decision-makers, professionals and practitioners with the resources they need to make key business-shaping decisions in a rapidly changing world.

This year’s conference theme is “Blockchain & AI for Economic Advancement!”

About 1000 participants are expected to be at the two-day event.

The event will feature a mix of free-to-attend and paid-for content.

A mobile app for the event, “ABAR” can be downloaded from Google Play Store.

Event Date: October 19-20, 2018. Time 9.00am Prompt

Special Guests, Keynotes, and Conference Speakers include:

  • Prof Kingsley Mughalu, 2019 Presidential Aspirant, Former Deputy Governor CBN.
  • Chike Ukaegbu, 2019 Presidential Aspirant, Lead Executive, StartUp52
  • Mary Uduk, Director General of SEC Nigeria
  • Dr Aliyu Abdulhameed MD/ CEO (NIRSAL)
  • Mr. Adebisi Shonubi  Managing Director, NIBSS
  • Dr. David Isiavwe –ISSAN President
  • Dr Amina Sambo Magaji -National Coordinator, OIIE, NITDA
  • Musa Itopa Jimoh – Deputy Director, Payment SystemsCBN
  • Mohammed Ibrahim Jega – Board Member FG Technology and Creativity Advisory Group, Founder Startup Arewa
  • Robert John – first sub-Saharan Africa certified Google Developer Expert in Machine Learning.

The conference promises to showcase a remarkable list of leading voices in the artificial intelligence and blockchain communities across the globe, with the spotlight on local Startups already building out solutions in the ecosystem.

The event is being organised by Blockchain Nigeria User Group. More speakers can be seen on the event website: https://www.blockchainsummit.ng/

Who Should Attend?

Top government decision makers, Regulators, Entrepreneurs, Enthusiasts, Developers, Chief technical officers, Students and Investors interested in innovation at the intersection of AI and Blockchain. We also expect decision-makers from leading financial services companies who are seeking to improve their business using AI and Blockchain Technology to be in attendance.

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Bithumb to Hold ‘Special Promotion’ for New Registered Foreign Users

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Bithumb
Image by www.bithumb.com

SEOUL, South KoreaOct. 15, 2018 /PRNewswire/ — Bithumb, a global cryptocurrency exchange will offer a new registration event to global users who newly join and start making cryptocurrency transactions.

Bithumb is planning to hold a ‘New Registration Event’ for overseas users from October 15 to November 14, 2018 (GMT +9) Korean Standard Time. The event is for overseas users who have signed up for the Bithumb and completed transactions over KRW 20 Million (Approx. USD 17,490, Bithumb cash standard). The users who are satisfied with the above conditions are expecting to receive benefits of 20,000 Bithumb cash after the event period.

Bithumb cash benefits will be given in consecutive order from December 3 until December 7, 2018, for five days (GMT+9) Korean Standard Time.

BithumbAccording to Head of Marketing Department of Bithumb, Andy Choi, “global interest in cryptocurrencies such as Bitcoin and Ethereum is growing.” And he added, “We appreciate our foreign global users for their trust in and transaction on Bithumb. We are planning to hold various events in order to express our gratitude.”

Bithumb is now holding a ‘Cryptocurrency Transaction Fee Refund Event’ and ‘Super Airdrop Festival Season 2’ as well.

For global customer’s convenience, Bithumb provides a foreign language counseling service in English, Japanese and Chinese, further strengthening its position as a leading cryptocurrency exchange in the world.

*Readers should do their own due diligence before taking any actions related to the company, product or service. BitcoinAfrica.io is not responsible, directly or indirectly, for any loss or damage caused by or in connection with the use of or reliance on any content, product or service mentioned in this press release.*

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