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UK Post Office Adds Option to Buy Bitcoin via Easyid App

13/09/2021 by Idelto Editor

UK Post Office Adds Option to Buy Bitcoin via Easyid App

U.K. Post Office’s Easyid app is adding the option to buy bitcoin starting this week. Through the free-to-use Post Office app, customers can access Swarm Markets, a regulated crypto exchange, to buy bitcoin and ethereum.

Buy Bitcoin and Ether Using Post Office App

The U.K. Post Office is introducing an option to buy cryptocurrencies via Easyid, its ID verification app. Post office customers who have verified their identity using the app can buy vouchers that can be redeemed for cryptocurrencies.

The Easyid app will offer access to Swarm Markets starting this week, the Telegraph publication detailed, adding that the app has “tens of thousands of users.” Berlin-based Swarm Markets, a crypto trading platform regulated by German financial regulator, BaFin, announced Friday:

Swarm Markets partnered with Yoti to offer Easyid mobile app users a safe and easy way to buy BTC and ETH vouchers via credit card or bank transfer — as well as access the world’s 1st licensed defi [decentralized finance] platform.

According to the publication, “the Post Office will not receive commission on vouchers sold but is paid by Swarm Markets for use of its ID verification software.”

The U.K. Post Office launched Easyid in August through a partnership with digital identity company Yoti. According to Yoti, Easyid is accepted at over 25,000 locations across the U.K., including 11,638 Post Office branches.

A Post Office spokesman was quoted as saying: “Access to products and services are increasingly moving online and we’ve responded to this shift by launching our free-to-use app, Post Office Easyid, allowing people to build their own secure digital identity on their smartphone and enabling them to easily control and prove who they are to whichever business they want to interact with.”

What do you think about the Post Office offering a way to buy bitcoin via its Easyid app? Let us know in the comments section below.

Filed Under: easyid app, easyid bitcoin, easyid crypto, easyid cryptocurrency, English, Featured, News Bitcoin, Post Office, post office bitcoin, post office crypto, post office cryptocurrency, uk post office

State-Owned Swiss Bank Postfinance Launches App Supporting 13 Cryptocurrencies

14/05/2021 by Idelto Editor

State-Owned Swiss Bank Postfinance Launches App Supporting 13 Cryptocurrencies

The banking subsidiary of the national postal service of Switzerland, Postfinance, has launched a mobile app providing clients with access to cryptocurrencies, ETFs and more. The software allows users to make payments, save funds or invest in various assets, with a commitment to a level of security provided only by the country’s leading online banks.

Swiss Post’s Bank Offers Clients Access to Crypto Assets and Stocks

The new application called Yuh is the product of a partnership between Postfinance and the online trading platform Swissquote. The collaboration was established late last year and the software was unveiled at a virtual launch event on May 11, the bank said in a press release. Anyone who wants to test it is welcome to download and install the app on either an iOS or an Android device. Postfinance emphasized:

With the Yuh app, you can not only execute payments and save for future projects or goals, but also make small or large investments, all from your smartphone.

Users can invest in over 100 of the most popular stocks like those of Apple, Nike, Tesla, or Coca-Cola, as well as exchange-traded funds (ETFs). The two financial companies also revealed that their customers will be able to buy and sell 13 cryptocurrencies from the app, including bitcoin (BTC) and ethereum (ETH).

“With Yuh we place the entire financial world in the palm of their hands. Everyone should be free to decide when, where and how they manage their money,” commented Yuh CEO Markus Schwab.

The platform launches with a promise to maintain “low to no fees” and provide “full transparency at all times” regarding applicable charges. Payments and peer-to-peer transfers are free of charge, for example. However, fees apply to the purchase or sale of equities, 0.5%, and crypto assets, 1%. The costs for these transactions will be clearly displayed within the app. Furthermore, Yuh account holders who deposit 500 Swiss francs or more will receive 500 swissqoins, the app’s cryptocurrency, which Yuh users will be able to trade.

Yuh to Help Postfinance Attract Needed Customers

Postfinance embarked on implementing a new digital banking strategy after registering a serious decline in some of its key indicators last year. Its profit fell from 246 million to 131 million Swiss francs ($145 million), while operating costs increased by 18 million francs (close to $19.9 million) in 2020, Swissinfo detailed in an article reporting on the announcement of Yuh.

State-Owned Swiss Bank Postfinance Launches App Supporting 13 Cryptocurrencies

In the midst of a global pandemic limiting international travel and spending, Postfinance’s banking clients fell to 2.69 million, from 2.74 million in 2019. Switzerland’s negative interest rates contributed to the trend. Besides, the bank is majority-owned by the Swiss state and as such, it’s not allowed to offer mortgages or corporate loans to compete with private Swiss banks.

The partnership with the online financial services provider Swissquote, which led to the launch of the new mobile app, is part of efforts to adapt to the rapidly changing environment in the country’s banking sector. Digital banking is closing more and more physical branches in Switzerland. With attractive features, such as the option to buy even fractions of company shares and trade a variety of cryptocurrencies at relatively low fees, Yuh is likely to attract new and different customers.

Do you think Postfinance will succeed in expanding its customer base with its new banking app supporting cryptocurrencies? Tell us in the comments section below.

Filed Under: App, Bank, banking app, crypto trading, Cryptocurrencies, English, Finance, Mobile App, News Bitcoin, partnership, Post Office, Postfinance, shares, stocks, swiss, Swiss Post, swissquote, Switzerland, Yuh

Amid US Postal Service ‘Crisis’ USPS Files Patent for Blockchain Mail-in Voting Scheme

18/08/2020 by Idelto Editor

The United States Postal Service (USPS) is falling apart at the seams and many Americans are blaming the Trump administration. The USPS may have to deal with the U.S. election ballot process, as mail-in votes may be the dominant practice thanks to the coronavirus. Amid the American public’s concerned reaction about the internal problems at the USPS, on August 13, the postal entity published a patent for a blockchain-based mail-in voting system.

Every single day on social media and Reddit forums, users in the United States are discussing the United States Postal Service (USPS) and how the operation might be in ruins. Americans are beginning to realize on a nationwide scale that the USPS is financially broke and not sustainable.

On social media, U.S. citizens are sharing images of locked letter stations and mailboxes being carted away on flatbeds. The Trump administration’s Postmaster General Louis DeJoy also made a decision to remove hundreds of high-volume mail-processing machines nationwide outraging Democrats.

Democrats have accused President Donald Trump of “dismantling” the United States Postal Service (USPS) prior to the election as many understand that a mail-in voting scheme will be adopted.

Many Americans are aware that mail-in voting most likely will be the most dominant method used this November during the U.S. 2020 Presidential Election. Trump has explained to the media on a number of occasions that it’s likely the voting process will go down in this manner.

DeJoy’s recent moves make some people believe that voter suppression is happening and a left-leaning direct action organization called “Shut Down D.C.” has organized a protest outside the Postmaster’s home.

However, President Trump commended the Postmaster’s recent moves and said DeJoy “wants to make the post office great again.”

Amid all the indignant complaints from Democrats, the USPS seems to be moving toward leveraging blockchain technology in a new mail-in voting patent published last Thursday. Even when the USPS was in better standards than it is today, voters complained that the mail-in voting system was riddled with manipulation.

Postmaster General Louis DeJoy is not liked by members of the political left and he is also accused of owning $30M in equity in a USPS contractor and owns stock options in a USPS competitor business. DeJoy and the USPS Washington headquarters’ office published a patent for a blockchain mail-in voting scheme on August 13, 2020.

This is due to the fact that investigations have found dogs and even dead people allegedly ‘voted’ in prior U.S. presidential elections. The patent published on the United States Patent and Trademark Office (USPTO) is called “The Secure Voting System.”

“Often a voter is not able to or does not desire to go to a polling place to cast a vote,” the USPS patent description notes. “An election official in a jurisdiction may wish to send secure ballots via mail. Or, a jurisdiction may opt to utilize electronic resources for voting. In such cases, a secure voting system is desired.” The patent description also adds:

A voting system can use the security of blockchain and the mail to provide a reliable voting system. A registered voter receives a computer-readable code in the mail and confirms identity and confirms correct ballot information in an election. The system separates voter identification and votes to ensure vote anonymity, and stores votes on a distributed ledger in a blockchain.

The patent is 47 pages long and contains a myriad of diagrams detailing how the blockchain-based mail-in voting system would work theoretically.

The USPS “Secure Voting System” patent that leverages blockchain technology.

“The security of a voting system can be increased by using the dependability and security of the United States Postal Service or similar entity,” the USPS patent details. “And this can be incorporated with a secure computer system using a blockchain or distributed ledger to ensure vote security and to prevent tampering or modification of electronic voting results.”

No one truly knows if the blockchain system can be implemented in time by the November election, but people do think that it is highly coincidental the USPS would publish this patent just a few months prior.

The USPS “Secure Voting System” patent that leverages blockchain technology.

Postmaster General Louis DeJoy and the USPS could deploy a blockchain system if there is enough demand for it, but many believe it may be too late to deploy such a system.

DeJoy must appear before a hearing by the House Oversight Committee with the U.S. Postal Service Inspector General Tammy Whitcomb on September 17. The U.S. Sen. Elizabeth Warren (D-Mass.) and other Democrats created this hearing in order to address the USPS leader’s alleged internal problems.

Even the House Oversight Committee may not be enough, as it will happen only a few weeks before the U.S. election. This has invoked the Speaker of the House, Nancy Pelosi, and other House Democratic leaders, to call for an earlier meeting before September 17. Pelosi and other bureaucrats may attempt to meet this week in order to address the USPS issues.

A House Democratic aide told the newsdesk Axios that the Democrats perceive the current issues with the USPS a “crisis,” and the complaints mostly revolve around the handling of the mail-in vote scheme.

It’s fairly understood that a mail-in voting method for the 2020 U.S. election will happen, but whether or not the USPS and other entities leverage blockchain seems to be being discussed by central planners. Meanwhile, the 2020 U.S. election is only 77 days away and time is running out.

What do you think about the U.S. possibly leveraging blockchain technology for the 2020 U.S. Election? Let us know what you think about this subject in the comments section below.

The post Amid US Postal Service ‘Crisis’ USPS Files Patent for Blockchain Mail-in Voting Scheme appeared first on Bitcoin News.

Filed Under: 2020 Presidential Election, Blockchain, blockchain system, Democrats, DIstributed Ledger, Donald Trump, Election Blockchain, electronic voting results, Elizabeth Warren, English, Mail-in voting, Nancy Pelosi, News Bitcoin, Post Office, Postal Service, Postmaster General Louis DeJoy, Republicans, Tammy Whitcomb, USPS

$6M Worth of Tether on the Bitcoin Cash Chain Highlights the Benefits of SLP Tokens

19/07/2020 by Idelto Editor

$6M Worth of Tether on the Bitcoin Cash Chain Highlights the Benefits of SLP Tokens

During the first week of July, crypto supporters noticed that Tether issued 1,010 stablecoins via the Simple Ledger Protocol (SLP) framework on Bitcoin Cash. Now there’s a much larger amount of SLP-based tethers in circulation as the company has minted a total of 6 million on the Bitcoin Cash blockchain.

Digital currency enthusiasts have been watching the Tether project grow for years now and to-date the firm has $9.8 billion in total liabilities according to the company’s transparency page. The USDT stablecoin is spread across various blockchains including Ethereum, Tron, Algorand, and EOS. Just recently, USDT was migrated onto the Bitcoin Cash blockchain by leveraging the Simple Ledger Protocol.

Bitcoin Cash supporters are now aware that there are over 6 million SLP-based USDT in circulation today. Data stemming from simpleledger.info and a BCH blockchain explorer shows that SLP-based tethers are circulating quite frequently. A number of BCH supporters have been discussing the benefits of SLP-based stablecoins and the Cointext CTO, Vin Armani, discussed the subject on July 11.

Armani tweeted a link from news.Bitcoin.com, which reported on millions of dollars worth of USDT stablecoins frozen in 40 addresses. “You can’t stop me from using a Bitcoin address for which I have the key(s). There’s no ‘freeze address’ function on Bitcoin, as has been added to these Ethereum stablecoin contracts,” Armani said. The Cointext founder further stated:

USDT is now available as *uncensorable* SLP tokens on BCH.

In addition to the permissionless benefits the Bitcoin Cash chain offers, the network fees needed to interact with SLP-based USDT on the BCH chain is quite minimal. A typical fee on the BCH network is only $0.003 per transaction or a third of a U.S. penny. Just recently, members of the Reddit forum r/cryptocurrency discussed how interacting with ERC20s on the Ethereum chain was quite costly. The author of the original post shared a gas fee which was $16 and said “and you guys were complaining about high BTC fees… WTF!?” One commenter responding to the post wrote:

Sending transactions on ETH is still cheap. Interacting with smart contracts is another story…

Another concept that stems from the mind of Vin Armani could essentially do away with the already inexpensive gas fees needed to push SLP-based transactions. For instance, the crypto community could leverage the ‘Simple Ledger Postage Protocol’ Armani invoked in November 2019. The Postage Protocol allows SLP-based tokens to be sent without using fees (generally known as ‘gas’) to complete transactions.

“In essence, the Postage Protocol allows users to pay for their miner fees using the SLP token itself,” Armani explained last year. “This is accomplished through the use of an intermediary server called a ‘post office.’ The user sends the post office the requisite value of the needed BCH as an additional output in a transaction. Upon receiving and validating the otherwise invalid transaction, the post office attaches additional input containing native BCH (‘stamps’) and then broadcasts the ‘postage paid’ (valid) transaction to the network.”

The fact of the matter is, stablecoins and any type of tokens, like non-fungible assets are much cheaper to send via the Bitcoin Cash chain. Many BCH supporters believe that in time, the market will realize this fact and migrate and build token infrastructure using the Simple Ledger Protocol. Besides being cheaper, SLP-based tokens are also permissionless and anyone from anywhere around the world can have full control over their tokens if they possess the private key(s).

What do you think about the $6 million worth of tether on the Bitcoin Cash chain? Let us know what you think about this subject in the comments section below.

The post $6M Worth of Tether on the Bitcoin Cash Chain Highlights the Benefits of SLP Tokens appeared first on Bitcoin News.

Filed Under: BCH Chain, BCH Fees, Bitcoin Cash, Cointext founder, cryptocurrency, English, Ethereum Chain, News Bitcoin, permissionless, Post Office, Postage Protocol, Simple Ledger Protocol, SLP, SLP tokens, SLP-Based USDT, Stablecoin, Stablecoins, technology, Tether, Tether (USDT), Tokens, USDT, Vin Armani

Croatian Post’s Crypto Exchange 2 Months in: More Local Users, BTC, ETH, and XRP Favored by Customers

05/02/2020 by Idelto Editor

Croatian Post's Crypto Exchange 2 Months in: More Local Users, BTC, ETH, and XRP Favored by Customers

In December news.Bitcoin.com reported on the Croatian Post’s launch of their own crypto exchange service. After a pilot run in the tourist friendly city of Zadar, the program was expanded to 55 post office branches nationwide starting December 11. Now almost two months in, Croatian Post has provided an update to news.Bitcoin.com on the progress of the exchange. Local users of the service have increased since the pilot, and the most popular cryptos traded are BTC, ETH, and XRP.

Also Read: Croatian Post Launches Crypto Exchange Service at 55 Branches

Locals and Tourists Alike Now Using Exchange Service

The Croatian Post crypto exchange service allows users to exchange crypto for Croatian kuna at 55 post office branches across the country. Supported cryptocurrencies are bitcoin core, ether, XRP, stellar, and EOS. According to the corporation, which is the largest postal provider in the Republic of Croatia, “During the pilot that was done in a tourist centre Zadar [the service] was mostly used by foreigners, but since the state-wide launch in December it became more and more popular with locals.”

Croatian Post's Crypto Exchange 2 Months in: More Local Users, BTC, ETH, and XRP Favored by Customers
Croatian postage stamp.

The initial announcement in December pointed to the convenience for tourists, who want to easily convert their crypto to local currencies while traveling, stating: “In recent years, there has been an increase in the number of cryptocurrency users, who very often plan to travel to those places where they can convert their digital money to the national currency.”

Now that the program is becoming more popular with local users and not just tourists, the Croatian Post notes that “We are very satisfied with the volumes of the service. Of course, we are expecting much higher volumes of cryptocurrency exchange when the tourist season starts.” A buy option is also planned to be introduced soon, providing a crypto on-ramp for users.

Croatian Post's Crypto Exchange 2 Months in: More Local Users, BTC, ETH, and XRP Favored by Customers
The most commonly exchanged currencies thus far are BTC, ETH, and XRP. The crypto calculator tool on the website announces that a buy option is coming soon.

Most Popular Cryptos Exchanged for Croatian Kuna

Regarding the most popular cryptos, Croatian Post told news.Bitcoin.com:

Most popular crypto exchanged is, as expected, Bitcoin, followed by Ether. Ripple is also quite popular. EOS and Stellar Lumens are also accepted, but not as commonly recognised and used.

The group further elaborated, “The service is quite new, only launched in December state-wide, so we don’t have many recurring customers and we don’t see any rules in the way people use this service. Depending on the time of the year and also on part of the country however we see a difference in resident and non-resident customers.”

As news.Bitcoin.com’s Kevin Helms recently reported, in addition to Croatian Post, similar services are also being offered by post offices in Liechtenstein and Austria. Should residents and tourists in Croatia wish to purchase or sell bitcoin cash (BCH), they can do so via a variety of payment methods on the private peer-to-peer trading platform local.Bitcoin.com.

What do you think about the progress of Croatian Post’s new service? Let us know in the comments section below.

Disclaimer: This article is for informational purposes only. It is not an offer or solicitation of an offer to buy or sell, or a recommendation, endorsement, or sponsorship of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.


Images courtesy of Shutterstock, Valentin Ivantsov, Croatian Post, fair use.


Did you know you can buy and sell BCH privately using our noncustodial, peer-to-peer Local Bitcoin Cash trading platform? The local.Bitcoin.com marketplace has thousands of participants from all around the world trading BCH right now. And if you need a bitcoin wallet to securely store your coins, you can download one from us here.

The post Croatian Post’s Crypto Exchange 2 Months in: More Local Users, BTC, ETH, and XRP Favored by Customers appeared first on Bitcoin News.

Filed Under: Bitcoin Services, croatia, croatian post, cryptocurrency, English, Exchange, Exchanges, News Bitcoin, Post Office

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