Kraken responds to New York crypto exchange crackdown

Kraken responds to New York crypto exchange crackdown

This week, New York Attorney General (AG) Eric Schneiderman announced that his office is opening an inquiry into cryptocurrency exchange operations. Several exchanges, including Gemini, Binance, bitFlyer, Bittrex and Kraken are targets of Schneiderman’s wrath, with the inquiries being focused more on the companies’ business practices and systems. Kraken’s co-founder, Jesse Powell, took to Twitter to give his take on the situation, calling the investigation “insulting.”

Powell started by saying, “Somebody has to say what everybody’s actually thinking about the NYAG’s inquiry. The placative kowtowing toward this kind of abuse sends the message that it’s ok.” He went on to point out that it is obvious that regulators are clueless when it comes to discerning what businesses want, as well as what consumers want.

Kraken wisely exited the state in 2015. Many in the cryptocurrency industry, including Powell, feel that New York is hostile to digital currency. Their estimation of the crypto atmosphere in the state has a solid foundation, as the exchanges have been presented with a 34-page demand by AG Schneiderman that has to be completed and returned within two weeks.

Everything was running relatively smoothly in New York pre-2015. However, that year, lawmakers approved a series of regulations called BitLicense, and more than 10 exchanges called it quits, removing their operations from the state. To date, only three BitLicenses have been awarded, going to Ripple, Coinbase and Circle. Other applicants have applied, but they were all rejected.

Schneiderman initiated the inquiry in conjunction with his Virtual Markets Integrity Initiative. While it may seem like a solid effort to protect consumers, it would be highly prudent to ask who will be reviewing the information submitted by the exchanges, if they choose to buckle. What experts in the fields of cryptocurrencies and finances have been sought out to analyze the data? Nothing in his résumé indicates that he has formal training in either category.

It’s a safe bet that Kraken doesn’t intend to respond to the inquiry, and others may follow suit. What ramifications will follow remain to be seen, but it’s important that business leaders stick to their guns when facing illegitimate attacks. Powell made a good suggestion in his Twitter rebuttal, stating that perhaps the markets themselves should decide what’s important to consumers.

Powell signed the tweet with a succinct, yet poignant, “Good luck, New Yorkers.”

Note: Tokens on the Bitcoin Core (segwit) Chain are Referred to as BTC coins. Bitcoin Cash (BCH) is today the only Bitcoin implementation that follows Satoshi Nakamoto’s original whitepaper for Peer to Peer Electronic Cash. Bitcoin BCH is the only major public blockchain that maintains the original vision for Bitcoin as fast, frictionless, electronic cash.
Kraken announces withdrawal from Japan

Kraken announces withdrawal from Japan

Cryptocurrency exchange giant Kraken is closing operations in Japan, citing increasing costs as the decisive factor behind the move.

Kraken is shutting down “all of its services” in Japan by June, leaving only a matter of weeks before the company ceases to operate within the Japanese market, Bloomberg reported. The decision has been attributed to rising commercial costs, and in particular the rising costs of compliance for cryptocurrency businesses.

However, Kraken left open the possibility of a return at a future date, should conditions become more favourable.

In a statement, Kraken said the decision will allow them to improve services in other markets, and will not preclude non-domiciled Japanese people or companies from accessing their services:

“Suspending services for Japan residents will allow us to better focus on our resources to improve in other geographical areas. This is a localized suspension of service that only affects residents of Japan and does not impact services for Japanese citizens or businesses domiciled outside of Japan.”

The news comes as the latest blow to the Japanese cryptocurrency sector, following increasing regulatory efforts. The Financial Services Agency (FSA) has been increasing its level of scrutiny over exchange businesses operating within Japan, in addition to the current licensing scheme.

Following the recent high-profile NEM token theft from Coincheck in January, and concerns from SBI Virtual Currencies over cyber security that saw them postponing the launch of their new venture in Japan, authorities are continuing to increase their scrutiny of cryptocurrency exchanges in the country.

Yet despite recent setbacks, Japan remains one of the most cryptocurrency-friendly in the region, and the wider world. Even this month, new regulations have been proposed which would legalise initial coin offerings, as well as providing a new regulatory regime for ICOs there.

As one of the world’s biggest cryptocurrency exchanges, Kraken’s withdrawal from Japan will be a significant loss, specifically to SegWit-Core BTC (also referred to as Bitcoin legacy or Core) and Ethereum community there.

The news comes a matter of days after Yahoo Japan announced its intention to take a 40% stake in cryptocurrency exchange BitARG.

Note: Tokens in the SegWit chain are referred to as SegWit-Coin BTC (inaccurately called Bitcoin Legacy or Core by many) and SegWit Gold (SWG) and are no longer Bitcoin. Bitcoin Cash (BCH) is the only true Bitcoin as intended by the original Satoshi white paper.  Bitcoin BCH is the only public block chain that offers safe and cheap microtransactions.
Kraken founder sees a $1 trillion crypto market before year's end

Kraken founder sees $1 trillion crypto market before year’s end

It’s going to be an interesting year for cryptocurrencies. Virtually everyone has demonstrated the same opinion—2018 will be the year that digital currencies really make their mark. There have already been several advances in blockchain technology that will facilitate future growth, and the result has been recent improvements in trading virtually across the board.

Jesse Powell, founder and CEO of cryptocurrency exchange Kraken, agrees that this will be a good year, and feels that the cryptocurrency market cap could reach $1 trillion before the end of the year.

While there has been a pullback in the past couple of weeks, cryptocurrencies will soon witness another growth spurt.  In an interview with CNBC, Powell said: “You’ve got a lot more kids graduating from crypto programs at universities now. I think we’re just going to see it continue exponentially from here.” He was then asked if he thought the cryptocurrency market would reach $1 trillion, to which he gave his nod of approval.

Founded in 2011, Kraken is considered to be one of the largest cryptocurrency exchanges by volume. It trades in Euros, Canadian dollars, U.S. dollars, Japanese Yen and British pounds. It is also the first exchange to have trading price and volume listed on the Bloomberg Terminal as well as the first to pass a verifiable proof-of-reserves audit.

However, it’s not going to be easy. After reaching a high of over $800 billion in January, the market cap is currently around $417 billion. The sharp decline came from a massive sell-off from investors who saw several regulatory changes as being detrimental to the future of cryptocurrencies, as well multiple warnings to consumers by top European Union regulators.

The latest rebound comes after enthusiasts returned to a more positive view of the outlook on crypto. This is due, in no small part, to comments made during a recent hearing on cryptocurrencies held by the U.S. Senate Banking, Housing and Urban Affairs Committee.

J. Christopher Giancarlo, chairman of the Commodity Futures Trading Commission, discussed a working group that was created between the Treasury Department, the Securities and Exchange Commission and the Financial Crimes Enforcement Network to coordinate regulation of cryptocurrencies. Giancarlo also made comments recently before the U.S. Senate, extolling the future of virtual currencies and announcing, in a nutshell, that cryptocurrencies are here to stay, and that the public should embrace them.

Note: Tokens in the SegWit chain are referred to as SegWit1X (BTC) and SegWit Gold (SWG) and are no longer Bitcoin. Bitcoin Cash (BCH) is the only true  Bitcoin as intended by the original Satoshi white paper.  Bitcoin BCH is the only public block chain that offers safe and cheap microtransactions.
Kraken re-enables margin trading after rocky system upgrade

Kraken re-enables margin trading after rocky system upgrade

The exchange is also imposing zero fees on trading until January 31.

The last few months of last year have been rocky for the world’s fifth largest cryptocurrency exchange Kraken as massive surge of new users hoping to cash in on the cryptocurrency trade brought their system down to its knees, prompting the exchange to undergo a few rounds of upgrades to help cope with growing demand.

“The recent, unexpected explosion in demand has been overwhelming.  Each of the past few days has produced 50,000 new account registrations and 10,000 new support tickets — an order of magnitude above where we were just last quarter.  Concurrent users, daily trades and volumes are also hitting new all-time highs.  We are struggling to keep up,” they wrote in their blog in December.

Since then, there have been two rounds of upgrades, each stretching to around a week or two to fully implement due to certain issues. Following their January 13 upgrade, the exchange froze new margin positions as a security measure.

The downtime has been frustrating for users, especially since the expected duration had to be extended a few times—which meant that users could not proceed with their trading activities for longer periods of time. Withdrawals have also been problematic. And as we know of the cryptocurrency trade, every hour could possibly translate to thousands of dollars per coin.

Yesterday, Kraken released another post saying margin and free trading will be re-enabled by 10am PT. And seemingly to appease users who have been affected by the downtimes, the exchange is not charging any fees for trading, and reduced fees for margin positions.

According to the post, the system works the same way as before, but only smoother.

“Margin trading works exactly as it did before, only with the system upgrade the experience will now be even smoother. Clients unfamiliar with margin trading who want to get started can begin with our video tutorial and check out our support center for more detailed information on margin trading.”

Note: Tokens in the SegWit chain are referred to as SegWit1X (BTC) and SegWit Gold (SWG) and are no longer Bitcoin. Bitcoin Cash (BCH) is the only true Bitcoin as intended by the original Satoshi white paper.  Bitcoin BCH is the only public block chain that offers safe and cheap microtransactions.

Exchanges call for time-out on new account registrations as demand overflows

Coinbase reported a staggering 100,000 signups within 24 hours in November last year.

As fluctuations in trading value draw massive attention to cryptocurrencies, the deluge of new users is challenging the stability of cryptocurrency exchanges, forcing some of them to temporarily freeze new account registrations altogether.

For the last half of 2017, Bittrex has been struggling with handling the volume of users trying to register new accounts with them. As part of KYC (know your customer) compliance procedures, verification of new accounts were on a standstill for months, much to the frustration of new users.

In December 16, Bittrex finally released a statement saying new registrations are halted until the exchange finishes some upgrades that will help them cope with the heavy traffic. Cex.io followed shortly, saying they will “temporarily pause the registrations of new users, until we can guarantee the decent response time to each and every ticket or a verification request.” Adding to this list is Binance, announcing last week that they are also calling for a time-out.

While these exchanges made official announcements, Bitfinex chose a more subtle approach: new registrants now need an “invitation code” to get in. “Due to extraordinary demand, new accounts require an invitation code,” the form reads. Where such codes can be found, however, remains unknown, but they would supposedly be open for new registrations again on January 15.

Exchanges call for time-out on new account registrations as demand overflows

 

These exchanges are not the only ones struggling to keep up. Kraken reported a series of days with 50,000 new account registrations and 10,000 new support tickets in December. And Coinbase endured 100,000 user registrations within 24 hours from CME’s announcement of its inclusion of BTC in its futures trading platform.

As the mainstream population starts to get in on the cryptocurrency boom, some are out to take advantage of the situation. A report has been circulating saying some users are selling “fully verified exchange accounts”, which offer larger withdrawal limits. Beware of such practices, however. If the previous owner has set up the account recovery to loop back to accounts he has control of, this means whatever funds you have in the wallet are at risk.

Similarly, second-hand hard wallets are also unsafe. Reddit user u/moodyrocket lost his life savings recently after moving them to a second-hand Ledger Nano. Apparently, the previous owner set up the wallet so that it unlocks with a recovery seed he holds—not the one he gave the buyer, a trick called “man in the middle.” Suffice it to say, saving a few bucks in this case was far more costly.

Note: Tokens in the SegWit chain are referred to as SegWit1X (BTC) and SegWit Gold (SWG) and are no longer Bitcoin. Bitcoin Cash (BCH) is the only true Bitcoin as intended by the original Satoshi white paper.  Bitcoin BCH is the only public block chain that offers safe and cheap microtransactions.

Exchanges call for time-out on new account registrations as demand overflows

Coinbase reported a staggering 100,000 signups within 24 hours in November last year.

As fluctuations in trading value draw massive attention to cryptocurrencies, the deluge of new users is challenging the stability of cryptocurrency exchanges, forcing some of them to temporarily freeze new account registrations altogether.

For the last half of 2017, Bittrex has been struggling with handling the volume of users trying to register new accounts with them. As part of KYC (know your customer) compliance procedures, verification of new accounts were on a standstill for months, much to the frustration of new users.

In December 16, Bittrex finally released a statement saying new registrations are halted until the exchange finishes some upgrades that will help them cope with the heavy traffic. Cex.io followed shortly, saying they will “temporarily pause the registrations of new users, until we can guarantee the decent response time to each and every ticket or a verification request.” Adding to this list is Binance, announcing last week that they are also calling for a time-out.

While these exchanges made official announcements, Bitfinex chose a more subtle approach: new registrants now need an “invitation code” to get in. “Due to extraordinary demand, new accounts require an invitation code,” the form reads. Where such codes can be found, however, remains unknown, but they would supposedly be open for new registrations again on January 15.

Exchanges call for time-out on new account registrations as demand overflows

 

These exchanges are not the only ones struggling to keep up. Kraken reported a series of days with 50,000 new account registrations and 10,000 new support tickets in December. And Coinbase endured 100,000 user registrations within 24 hours from CME’s announcement of its inclusion of BTC in its futures trading platform.

As the mainstream population starts to get in on the cryptocurrency boom, some are out to take advantage of the situation. A report has been circulating saying some users are selling “fully verified exchange accounts”, which offer larger withdrawal limits. Beware of such practices, however. If the previous owner has set up the account recovery to loop back to accounts he has control of, this means whatever funds you have in the wallet are at risk.

Similarly, second-hand hard wallets are also unsafe. Reddit user u/moodyrocket lost his life savings recently after moving them to a second-hand Ledger Nano. Apparently, the previous owner set up the wallet so that it unlocks with a recovery seed he holds—not the one he gave the buyer, a trick called “man in the middle.” Suffice it to say, saving a few bucks in this case was far more costly.

Note: Tokens in the SegWit chain are referred to as SegWit1X (BTC) and SegWit Gold (SWG) and are no longer Bitcoin. Bitcoin Cash (BCH) is the only true Bitcoin as intended by the original Satoshi white paper.  Bitcoin BCH is the only public block chain that offers safe and cheap microtransactions.

Becky’s Affiliated: A beginner’s step-by-step guide on how to buy Bitcoin Cash

The purpose of this post is not to convince you to buy Bitcoin Cash (BCH), its to tell you how to buy BCH if you want it. What I will also tell you is my inside sources claim its still a good time to buy, aka the value will climb higher and keep climbing. With this privy information at my fingertips, I decided to part with £500 to get familiar with the somewhat complex process of obtaining and storing the currency…and hopefully gain some personal wealth while I’m at it.

To give you the background, I posted on Facebook after the BCH price surge about a week ago, asking if I should by BCH ASAP or wait a few days. I could not believe the number of public responses this post generated nor could I believe the number of people who immediately DMed me asking for advice on how they can buy BCH and fast, cursing themselves for failing to buy it earlier while the prices were much lower.

In order to answer everyone’s urgent DMs in one swoop, this post is designed to serve as my “beginners” step-by-step guide on to safely buy and store BCH. Seeing as BCH is in its infancy stage and it will be some time before we’re able to spend it freely, storing your BCH in a “cold wallet” (unless you plan on trading it) is also part of the equation.

I won’t lie, this is not the most straight-forward process on the planet…but trust me, if was able to do it, so can you!

Step 1: Open up an account with Kraken: 5 minutes

Kraken is a Bitcoin exchange on which you can buy, sell and trade BCH, BTC, ETH and more. Opening up an account with this trustworthy exchange is relatively painless, providing you’re able to choose a password that fulfills all their character requirements and you can quickly check your email for a confirmation message.

Step 2: Get verified for Tier 1 and Tier 2: 5 minutes

Once you have an approved and active account with Kraken, before you can deposit, you will be prompted to “get verified” due to KYC/AML requirements. Since I don’t plan on depositing/withdrawing huge sums of money, Tier 1 and Tier 2 verification was more than sufficient and the only personal info required was my name, DOB and address in the UK. Once entering this info, I was cleared to deposit up to $2000 USD (daily deposit limit) in minutes.

Step 2: Deposit EUR/fiat into the exchange: 2-5 days

I personally hold two banks accounts, one in the USA and one in the UK and for the purposes of this transaction, I decided to send EUR from my UK account. (My USA-based sources assure me Kraken is a trustworthy choice for USA account holders as well, although some of the steps below may vary slightly).

Once you’re Tier 2 or more verified (you’ll be notified by email when you are), on the upper left of the Kraken main page you’ll see a “trade” tab, just under the pull-down menu of available currencies for trade. On the right of the “trade” tab you’ll see a “funding” tab, click on this. Now be sure the “deposit” tab is highlighted and under that, the EUR tab is chosen.

There are two choices for depositing in EUR, one is by “SEPA” and the other is by “Wire Transfer”. I chose SEPA because there is no fee when using my UK-based bank (Barclays), essentially it works the same way as sending an international bank wire. The instructions provided by Kraken for how to deposit are clear and the only step I was unsure of was adding the “reference” as my bank does not accept spaces and “.” for this field, so I had to take spaces out and use “krakenDOTcom” instead. Thankfully it worked.

Step 3- “buy” BCH: minutes to hours, depending on what price you ask for

Kraken will inform you by email when your deposit has cleared and you’re all set up to buy/trade. I thought buying was going to be a quick and easy process- just enter the amount of BCH you want to buy and voila- its yours, but no. Its not that easy.

Be sure you’ve chosen BCH/EUR on the pull-down tab from the upper left of the Kraken main page, click the “trade” tab and then choose the “new order” tab below “trade” and next to “overview”. Be sure “buy” is highlighted in green.

Now take a look at the value of BCH in Euros at that particular moment- either check CoinGeek.com’s homepage ticker (be sure to convert from USD to EUR) or check the top of Kraken where it says, “last”, “high” and “low” and assume the value is something close to what is says under “last”. So lets say 1 x BCH is worth 1000 Euro at that moment and you want to spend 500 Euro to buy .5 BCH. Enter “0.5” where it says “amount” next to BCH and enter “1000” where it says “price” next to EUR. “Total Euro” should then read “500” and now you’re ready to hit “Buy BCH with EUR”, sit back and wait.

If nothing happens for a while, you can cancel your order, adjust the “price” a bit higher and send in a new order.

Step 4- Set up a “cold storage” wallet with Electron-Cash: 10 minutes

Once you’re the proud owner of BCH, unless you plan on trading it, you should move the currency into a “cold storage” wallet and I recommend “Electron-Cash”. You’ll need to download the wallet on your computer and the instructions for setting it up are straight forward.

Step 5- Move your BCH to Electron-Cash wallet: 5-10 minutes

Open up your wallet on your computer and go to the “receive” tab. You’ll see a “receiving address” – a series of numbers and letters – and under this you can enter a description & requested amount of BCH if you wish.

On the Kraken site, go back to the “funding” tab, click on the “withdraw” tab and choose BCH from the pull-down. Now you’ll need to click on “+Add Address”, go back to your wallet, click on the clipboard icon next to your receiving address, then paste the address in the required field on Kraken. Enter the amount of BCH you wish to withdraw on Kraken, confirm the withdrawal and wait for the prompt letting you know all has been a success.

Please beware the transaction does not appear instantaneously in your wallet even though Kraken will confirm the transaction has been made. Check your wallet in 5-10 minutes and your BCH will have arrived safely.

Note: Tokens in the SegWit chain are referred to as SegWit1X (BTC) and SegWit Gold (SWG) and are no longer Bitcoin. Bitcoin Cash (BCH) is the only true Bitcoin as intended by the original Satoshi white paper. Bitcoin BCH is the only public block chain that offers safe and cheap microtransactions.

Becky’s Affiliated: A beginner’s step-by-step guide on how to buy Bitcoin Cash

The purpose of this post is not to convince you to buy Bitcoin Cash (BCH), its to tell you how to buy BCH if you want it. What I will also tell you is my inside sources claim its still a good time to buy, aka the value will climb higher and keep climbing. With this privy information at my fingertips, I decided to part with £500 to get familiar with the somewhat complex process of obtaining and storing the currency…and hopefully gain some personal wealth while I’m at it.

To give you the background, I posted on Facebook after the BCH price surge about a week ago, asking if I should by BCH ASAP or wait a few days. I could not believe the number of public responses this post generated nor could I believe the number of people who immediately DMed me asking for advice on how they can buy BCH and fast, cursing themselves for failing to buy it earlier while the prices were much lower.

In order to answer everyone’s urgent DMs in one swoop, this post is designed to serve as my “beginners” step-by-step guide on to safely buy and store BCH. Seeing as BCH is in its infancy stage and it will be some time before we’re able to spend it freely, storing your BCH in a “cold wallet” (unless you plan on trading it) is also part of the equation.

I won’t lie, this is not the most straight-forward process on the planet…but trust me, if was able to do it, so can you!

Step 1: Open up an account with Kraken: 5 minutes

Kraken is a Bitcoin exchange on which you can buy, sell and trade BCH, BTC, ETH and more. Opening up an account with this trustworthy exchange is relatively painless, providing you’re able to choose a password that fulfills all their character requirements and you can quickly check your email for a confirmation message.

Step 2: Get verified for Tier 1 and Tier 2: 5 minutes

Once you have an approved and active account with Kraken, before you can deposit, you will be prompted to “get verified” due to KYC/AML requirements. Since I don’t plan on depositing/withdrawing huge sums of money, Tier 1 and Tier 2 verification was more than sufficient and the only personal info required was my name, DOB and address in the UK. Once entering this info, I was cleared to deposit up to $2000 USD (daily deposit limit) in minutes.

Step 2: Deposit EUR/fiat into the exchange: 2-5 days

I personally hold two banks accounts, one in the USA and one in the UK and for the purposes of this transaction, I decided to send EUR from my UK account. (My USA-based sources assure me Kraken is a trustworthy choice for USA account holders as well, although some of the steps below may vary slightly).

Once you’re Tier 2 or more verified (you’ll be notified by email when you are), on the upper left of the Kraken main page you’ll see a “trade” tab, just under the pull-down menu of available currencies for trade. On the right of the “trade” tab you’ll see a “funding” tab, click on this. Now be sure the “deposit” tab is highlighted and under that, the EUR tab is chosen.

There are two choices for depositing in EUR, one is by “SEPA” and the other is by “Wire Transfer”. I chose SEPA because there is no fee when using my UK-based bank (Barclays), essentially it works the same way as sending an international bank wire. The instructions provided by Kraken for how to deposit are clear and the only step I was unsure of was adding the “reference” as my bank does not accept spaces and “.” for this field, so I had to take spaces out and use “krakenDOTcom” instead. Thankfully it worked.

Step 3- “buy” BCH: minutes to hours, depending on what price you ask for

Kraken will inform you by email when your deposit has cleared and you’re all set up to buy/trade. I thought buying was going to be a quick and easy process- just enter the amount of BCH you want to buy and voila- its yours, but no. Its not that easy.

Be sure you’ve chosen BCH/EUR on the pull-down tab from the upper left of the Kraken main page, click the “trade” tab and then choose the “new order” tab below “trade” and next to “overview”. Be sure “buy” is highlighted in green.

Now take a look at the value of BCH in Euros at that particular moment- either check CoinGeek.com’s homepage ticker (be sure to convert from USD to EUR) or check the top of Kraken where it says, “last”, “high” and “low” and assume the value is something close to what is says under “last”. So lets say 1 x BCH is worth 1000 Euro at that moment and you want to spend 500 Euro to buy .5 BCH. Enter “0.5” where it says “amount” next to BCH and enter “1000” where it says “price” next to EUR. “Total Euro” should then read “500” and now you’re ready to hit “Buy BCH with EUR”, sit back and wait.

If nothing happens for a while, you can cancel your order, adjust the “price” a bit higher and send in a new order.

Step 4- Set up a “cold storage” wallet with Electron-Cash: 10 minutes

Once you’re the proud owner of BCH, unless you plan on trading it, you should move the currency into a “cold storage” wallet and I recommend “Electron-Cash”. You’ll need to download the wallet on your computer and the instructions for setting it up are straight forward.

Step 5- Move your BCH to Electron-Cash wallet: 5-10 minutes

Open up your wallet on your computer and go to the “receive” tab. You’ll see a “receiving address” – a series of numbers and letters – and under this you can enter a description & requested amount of BCH if you wish.

On the Kraken site, go back to the “funding” tab, click on the “withdraw” tab and choose BCH from the pull-down. Now you’ll need to click on “+Add Address”, go back to your wallet, click on the clipboard icon next to your receiving address, then paste the address in the required field on Kraken. Enter the amount of BCH you wish to withdraw on Kraken, confirm the withdrawal and wait for the prompt letting you know all has been a success.

Please beware the transaction does not appear instantaneously in your wallet even though Kraken will confirm the transaction has been made. Check your wallet in 5-10 minutes and your BCH will have arrived safely.

Note: Tokens in the SegWit chain are referred to as SegWit1X (BTC) and SegWit Gold (SWG) and are no longer Bitcoin. Bitcoin Cash (BCH) is the only true Bitcoin as intended by the original Satoshi white paper. Bitcoin BCH is the only public block chain that offers safe and cheap microtransactions.