'bitcoin' Articles

Coinbase Exchange App Now Supports Bitcoin Cash Transactions

App Store chart topper Coinbase introduced support for Bitcoin Cash on Wednesday, allowing users of the cryptocurrency exchange app to trade in the alternative "forked" digital asset. Bitcoin Cash appeared in early August when a group of developers created a separate version of the Bitcoin blockchain, so that more transactions could be processed at a faster rate, with lower associated fees involved. When news of a potential split or "fork" in the blockchain first appeared, Coinbase said it would not support trading in the new currency that would be created as a result, but in August it reversed its decision and said customers would be able to withdraw Bitcoin Cash from the first day of 2018. Following today's app update, all users will be credited an amount of Bitcoin Cash that is equal to their Bitcoin balance when the fork occurred on August 1. Bitcoin Cash trading will also be available on GDAX, which is Coinbase's institutional-based exchange. The Coinbase app surged to the top of Apple's free apps chart in the App Store last week, amid a speculative frenzy surrounding the blockchain cryptocurrency. Today's announcement that it would support Bitcoin Cash caused BTC to drop sharply in the early hours as users switched currencies, but the value appears to have stabilized since, at around $17,599 as of writing. Also this week, a new version of the CoinHub app was released. Version 1.5 of the cryptocurrency quote platform brings a new secure portfolio, Reddit and news separation, fresh UI styling, and a FOREX engine that lets users purchase any currency

Coinbase Reaches Top of the Free App Charts on the US App Store Amid Bitcoin Surge

Bitcoin exchange Coinbase watched its iOS app surge to the top of the free apps chart in Apple's App Store yesterday, amid a speculative frenzy surrounding the blockchain cryptocurrency. Bitcoin prices on Coinbase's GDAX exchange flew past $16,000 to almost $20,000 in around 90 minutes on Thursday, reported Bloomberg, extending its record-breaking run and causing the software to crash and the service's website to go down intermittently in the process. The digital currency fluctuated during a turbulent Asian session, before falling back to about $16,000. BREAKING: Coinbase unavailable.The company now has more customers than Charles Schwab and has opened as many as 300,000 accounts in a day.Today has unprecedented volume and demand.There are litterally so many people trying to buy Bitcoin that exchanges are crashing.— Bruce Fenton (@brucefenton) December 7, 2017 The rise and rise of bitcoin has brought it into the mainstream in the last few weeks, but many observers are warning that the cryptocurrency could be a bubble. Investors have also been reminded of the dangers of hackers, after bitcoin mining marketplace NiceHash lost $64 million in BTC following a "sophisticated and professional attack". Apple has had its own problems with cryptocurrencies in the past. In August 2016, the tech giant had to remove several fake bitcoin wallets from the App Store after users of the digital currency were scammed out of thousands of dollars. For anyone interested in observing the hourly fluctuations of bitcoin while maintaining a safe distance,

Apple Removes Fake Bitcoin Wallets From App Store After Users Scammed

Fake Bitcoin wallet apps are routinely leaking through Apple's App Store vetting process, leaving users' accounts at risk of being compromised and their coins stolen. That's according to developers of the Breadwallet app, who estimate that fake wallets in the App Store have already lost users of the digital currency up to $20,000. The suspect apps were first identified by the company in a post on Reddit, warning users that at least eight fake wallets on the App Store were using the same, or very similar, names to existing official mobile wallet apps. The scam apps appeared to be aping portions of source code, icons, and graphics from legitimate apps to fool users into thinking they were using official wallets. Breadwallet discovered a fake version of its own app which was added to the App Store on July 29, using the same name and icon as the official version. The company took immediate action and contacted Apple to remove the offending app, after customers inadvertently downloaded the fake and reported stolen funds. "We talked with one customer who claims to have lost about $10,000, and if we go and look at the coin address where those coins were deposited, last I checked there was $20,000 listed at that address," said Breadwallet co-founder Aaron Voisine, speaking to Motherboard. "So, that's our current estimate for how much customers have lost." Apple has since removed the offending apps listed by Breadwallet, but their appearance on the App Store has left Bitcoin wallet developers and users questioning the robustness of Apple's vetting process for