Supreme Court Judgement – 4 March 2020 about Cryptocurrenies in India.

Crypto Valley

Located in Zug in the heart of Switzerland, Crypto Valley is uniquely positioned to make the most of the decentralized Swiss political system and its matchless business environment.

The Crypto Valley Association is an independent, government-supported association established to take full advantage of Switzerland’s strengths to build the world’s leading blockchain and cryptographic technologies ecosystem.

What is Virtual Currency?

Virtual currency is a type of unregulated digital currency that is only available in electronic form. It is stored and transacted only through designated software, mobile or computer applications, or through dedicated digital wallets, and the transactions occur over the internet through secure, dedicated networks. Virtual currency is considered to be a subset of the digital currency group, which also includes cryptocurrencies, which exist within the blockchain network.

Digital currency is the overall superset that includes virtual currency, which in turn includes cryptocurrencies. Compared to virtual currency, a digital currency covers a larger group that represents monetary assets in digital form.

Digital currency can be regulated or unregulated. In the former case, it can be denominated to a sovereign currency—that is, a country’s central bank can issue a digital form of its fiat currency notes. On the other hand, a virtual currency often remains unregulated and hence constitutes a type of digital currency.

Cryptocurrencies like bitcoin and ethereum are considered to be a part of the virtual currency group. A cryptocurrency uses cryptography technology that keeps the transactions secure and authentic, and also helps to manage and control the creation of new currency units. Such cryptocurrencies exist and are transacted over dedicated blockchain-based networks that are open to the common public. Anyone can join and start transacting in cryptocurrencies.

Cryptocurrency is legal in the following Countries

1. Morocco

2. Nigeria

3. Namibia

4. South Africa

5. Zimbabwe

6. Canada

7. Mexico

8. United States

9. Costa Rica

10. Nicaragua

11. Trinidad and Tobago

12. Jamaica

13. Brazil

14. Argentina

15. Colombia

16. Chile

17. Kyrgyzstan

18. Cyprus

19. Israel

20. UAE

21. Jordan

22. Saudi Arabia

23. Iran

24. Lebanon

25. Turkey

26. India

27. Pakistan

28. China

29. Japan

30. Hong Kong

31. Taiwan

32. South Korea

33. Indonesia

34. Philippines

35. Cambodia

36. Malaysia

37. Thailand

38. Singapore

39. Vietnam

40. Croatia

41. Germany

42. Poland

43. Austria

44. Czech Republic

45. Romania

46. Slovenia

47. Slovakia

48. Switzerland

49. United Kingdom

50. Australia

51. New Zealand

52. Ireland

53. Netherlands

54. Belgium

55. France

56. Luxembourg

57. Greece

58. Italy

59. Bulgaria

60. Bosnia and Herzegovina

61. Malta

62. Spain

63. Portugal

64. Sweden

65. Iceland

66. Norway

67. Denmark

68. Ukraine

Countries with
National Cryptocurrencies

Dubai (UAE)

Cryptocurrency Name: Emcash

Dubai launched the world’s first state-backed cryptocurrency in 2017 known as Emcash. Emcash tokens run on their own native blockchain and can be used for various government and non-government services, such as daily coffee, children’s school fee, utility charges, and money transfers.

With this step, Dubai is all set to become the world’s first blockchain-powered government by 2020.

Venezuela

Cryptocurrency Name: Petro

Venezuela is the second country to launch its own national cryptocurrency named Petro. Petro was launched in February 2018 after its announcement in December 2017. It is claimed to be backed by the country’s oil and mineral reserves and is intended to supplement Venezuela’s plummeting Venezuelan Bolívar currency.

The Venezuelan government also intends to use the national cryptocurrency as a means of circumventing US sanctions and accessing international financing.

Estonia

Cryptocurrency Name: Estcoin

Estonia, a country in Northern Europe which is very welcoming of cryptocurrencies in general, had announced in August 2017 about its plans of launching a state-backed cryptocurrency on Ethereum.

But it has not been launched yet and remains a proposed cryptocurrency under the name ‘Estcoin’ which will be launched via an ICO or token sale.

Vitalik Buterin was quite supportive of this idea and said, “An ICO within the e-residency ecosystem would create a strong incentive alignment between e-residents and this fund, and beyond the economic aspect makes the e-residents feel like more of a community since there are more things they can do together”.

Estonia can soon become the third country in the world after UAE & Venezuela to launch its own national cryptocurrency.

Russia

Cryptocurrency Name: Crypytoruble

Recently, Russia has been particularly interested in launching its own cryptocurrency to circumvent the US sanctions. Moreover, when the interest comes directly from their President Vladimir Putin, you should take it seriously, because in October 2017 Putin ordered the creation of Russia’s national cryptocurrency largely referred to as the Cryptoruble.

However, on the contrary, the Russian Central bank hasn’t shown much interest in launching the Cryptoruble yet. In this back and forth process, there are chances that Cryptoruble might come into existence sometime in mid-2019.

Sweden

Cryptocurrency Name: E-Krona

Meanwhile, another European nation Sweden is contemplating its state-backed cryptocurrency and it looks like they are very close to their launch date.

The new Swedish cryptocurrency will be known as E-Kroan through which Sweden aims to go totally cashless. Therefore, Sweden’s central bank, Riksbank, wants to launch an equivalent digital form of cash and will launch it in 2018 through the IOTA blockchain.

IOTA is popular cryptocurrency in the open-source decentralized market that works on ‘Tangle’, a directed acyclic graph based data structure which has no blocks, no chain, and no miners.

Japan

Cryptocurrency Name: J-Coin

Japan, one of the most welcoming countries for cryptocurrencies in the Asian region has also been contemplating its government-backed cryptocurrency since 2017.

What they call J-Coin, is expected to be launched ahead of the Tokyo Olympics in 2020. J-Coin will supplement Yen (JPY) and will be pegged to JPY in 1: 1 fashion through which citizens will be able to buy goods and services.

There are many other countries, developed and developing, that are thinking in this direction. That is because the digital government backed cryptocurrencies can help them evade sanctions, ease accounting and reduce the cost for the nations.

Some more countries are:

  • China
  • US
  • UK
  • Ecuador
  • Canada
  • Israel

Organisations accepting Cryptocurrencies

  1. Overstock.com: an American internet retailer, online store, the company sells home décor, furniture, bedding, and many other goods.
  2. Shopify.com: ecommerce platform, that has everything you need to sell online.
  3. Expedia.com:  is a travelling tool, that helps you find everything you need for your new destination.
  4. Subway:  an American submarine sandwich privately held fast-food restaurant. Found all over the world.
  5. McDonald’s: another American fast-food chain of cheeseburgers found all over the world.
  6. Microsoft: an American multinational corp. technology company.
  7. Pizzaforcoins.com: created specifically to help expand the usability of bitcoins and cryptos. The name says it all PIZZA! YES SIR!
  8. PayPal: a company that operates worldwide online payments.
  9. GYFT: a digital gift card platform that enables anyone to buy, send and manage gift cards from hundreds of top retailers like amazon, iTunes, Starbucks, target and more.
  10. CHEAPAIR.com:  an online travel agency
  11. Wikipedia: a multilingual encyclopedia
  12. Virgin Galactic: a spaceflight company within the Virgin Group.
  13. Save The Children.org: an international non-governmental organization that promotes children’s rights, providing relief and helps support children in developing countries.
  14. OkCupid: internationally operating online dating.
  15. Tesla: Multinational corp. specialized in electric vehicles, energy storage and solar panel manufacturing.
  16. Zynga: social game developer, running social video game services.
  17. Lionsgate films: entertainment corp.
  18. REMAX.com:  International real-estate company.
  19. Magnificent-tea.co.uk: tea company from the UK.
  20. 1–800-FLOWERS.com: floral and gourmet foods gift retailer.
  21. Bloomberg.com: privately held financial software, data and media company.
  22. Dish Network: American based corp. of direct broadcast satellite.
  23. Etsy.com:  is an ecommerce focused on handmade or vintage items and supplies.
  24. FetchPortraits.com:  a dog photographer who has chosen to perpetuate the image of your pet as a family member.
  25. Hotmaple.com:  in Portland Oregon, USA a maple sauce company.
  26. Belovedshirts.com:  Hip, unique and funky, Beloved Shirts sells all-over-print crew neck t-shirts, sweatshirts and hoodies. This stylistic, progressive company accepts bitcoins on all purchases.
  27. Bitgear.co:  Bitgear sells trendy, high quality bitcoin t-shirts to consumers and merchants who want a cool and fashionable way to show their support for the digital currency revolution.
  28. Strappingfellow.com:  Strapping Fellow produces and sells custom watch straps made of Horween Brand leather.
  29. Enclaveeyewear.com:  Enclave Eyewear manufactures and sells nylon composite, stainless steel and acetate eyewear frames using polarized TAC (tri-acetate cellulose) for the lenses and watches.
  30. MINDZAI.COM: Mindzai is a distinct online retail store that sells designer toys, a variety of creative goods and specialized apparel. Mindzai is catered to online buyers looking for something different.
  31. MAGANESUPER.CO.JP:  over 334 stores — Japanese eyeglasses store.
  32. Recruit-lifestyle.co.jp: Dining, beauty, and health services that add a little something extra to everyday life. Travel opportunities that offer relaxation, new experiences, new encounters, new ideas, and new discoveries.
  33. DELL.com:  multinational computer technology.
  34. MINT.COM:  mint pulls all your financial accounts into one place, set budgets, set goals and more.
  35. EBAY: Credit card / payment processor / Auction.
  36. WordPress.com:  An online company that allows user to create free blogs.
  37. APPLE’s app store: Buy music and any app on the Apple AppStore with bitcoins.
  38. Lumfile.com:  Free cloud base file server.
  39. Victoriasecrets.com:  Lingerie store.
  40. ThePinkCow.com:  The Pink Cow Restaurant was the first establishment in Japan to bring Bitcoins to Japanese Retail early in 2013! The Pink Cow Akasaka hosted the first Bitcoins Cash meetup in the World on Dec. 6th 2017 and started accepting payments in BCH from that day! ETH coming soon! Join us in Crypto history!
  41. Crowdtilt or Tilt.com: The fastest and easiest way to pool funds with family and friends.
  42. Newegg.com:  is an online retailer of items including computer hardware and consumer electronics.
  43. Rakuten.co.jp: a Japanese electronic ecommerce giant.
  44. OneShotHotels.com/en/:  Spanish Hotel Chain.
  45. ShopJoy.com.au:  Australian online retailer that sells novelty and unique gifts.
  46. Tigerdirect.com:  California-based online retailer dealing in electronics, computers, and computer components that caters to business and corporate customers.
  47. Reeds.com:  Jewelry company.
  48. TortugaBackPack.com:  top notch backpacks.
  49. TrickMugs.com:  the best place to buy color changing, heat activated prank coffee mugs.
  50. SingingTallGrass.com:  handcrafted organic products.
  51. FIBONATIX.COM:  a transport company that accepts 31 different types of cryptocurrency payment.
  52. Cooperatize.com:  The Leading Marketplace for Travel Advertisers, Bloggers & Micro-Influencers.
  53. Bitcoin-realestate.com: Worldwide — Buy & Sell Real Estate using cryptocurrencies. List your house, condo, lot, Resort, commercial property, business or equity project today.

There are over 260,000 stores accepting cryptocurrency in Japan according to Bitcoin.com.

Over 48.000 businesses according to Coinbase.com accepting cryptocurrencies as payment.

Over 80.000 stores in Europe has already adapted to cryptocurrency affirms independentrepublic.com.

Webcreate.com is ranking Shopify third place in the world as an ecommerce builder. It has over 75.000 companies that can now accept cryptos.

List of countries that have
highest number of Crypto ATMs

There are close to 7700 Crypto ATMs in the world

  • United States. (1009 locations)
  • Canada. (256 locations)
  • United Kingdom. (85 locations)
  • Austria. (66 locations)
  • Spain. (37 locations)
  • Switzerland. (23 locations)
  • Finland. (22 locations)
  • Czech Republic. (20 locations)
  • Australia (17 locations)
  • Japan (16 locations)
  • Netherlands (12 locations)
  • Italy (11 locations)
  • Mexico (10 locations)
  • Slovakia (10 locations)
  • Hong Kong (9 locations)
  • Slovenia (9 locations)
  • Dominican Republic (6 locations)
  • Greece (5 locations)
  • Romania (5 locations)
  • Taiwan (5 locations)

How Crypto ATMs works?

It would be best to start by explaining what exactly do these ATMs do, and it is pretty simple.

There are two types of crypto ATMs – two way and one way. One way ATMs allow you to exchange fiat currency for cryptocurrency. While two way ATMs allow you to exchange fiat and crypto both ways. Most crypto ATMs support Bitcoin, but the rising number brings more altcoin ATMs and ATMs that support more than one cryptocurrency.

The process itself is quite simple too (at least most of the time). The main things you would need for the transaction are the address of your wallet and fiat money you want to exchange. However, some ATMs might request some more information, such as your phone number or your ID for security reasons, especially if you go for a bigger transaction.

The usual transaction requests you to select the amount of cryptocurrency you would like to purchase and scan or type in your wallet’s address. The type of your wallet does not make a difference, so if you want to exchange your newly purchase cryptocurrency for another coin, you can deposit right into your exchange wallet.

After depositing the money, the machine either prints an offline wallet for you or sends Bitcoins to your Bitcoin wallet. … If you want the Bitcoins to be sent to your pre-existing wallet, you can scan a QR code representing your wallet address using the BTM scanner. Bitcoins are directly transferred to your wallet.

A Bitcoin ATM lets you buy bitcoin with cash. Similar to the way you insert a debit card into a traditional ATM and get cash, a Bitcoin ATM accepts cash and spits out bitcoins. Some Bitcoin ATMs also work the opposite way: you can send bitcoins to the machine and receive cash.

How much does Bitcoin ATM charge?

Bitcoin ATMs charge an average transaction fee of 8.93 percent, Coin ATM Radar said. Coinsource charges about 8 percent. Cryptocurrency ATMs typically charge a percentage rather than a flat fee, like bank ATMs.

List of Top 100 International Crypto Exchanges

Rank  Exchange Name

  1.    Bilaxy
  2.    Bitforex
  3.    Hotbit
  4.    Bit-Z
  5.    ZB.COM
  6.    BitMart
  7.   Coinbene
  8.   OKEx
  9.   Coineal
  10.   Binance
  11.   DigiFinex
  12.   BCEX
  13.   DOBI Exchange
  14.   RightBTC
  15.   HitBTC
  16.   Coinbase PRO (GDAX)
  17.   Cat.Ex
  18.   Huobi Korea
  19.   Bitrue
  20.   Bitstamp
  21.   DragonEX
  22.   Big.One
  23.   Sistemkoin
  24.   upBit Korea
  25.   Cointiger
  26.   Huobi Global
  27.   BW
  28.   Bitfinex
  29.   LATOKEN
  30.   Bithumb Global
  31.   Poloniex
  32.   Kryptono
  33.   Gate.io
  34.   YoBit
  35.   Liquid
  36.   Bithumb
  37.   bitFlyer
  38.   EXX
  39.   coinone
  40.   P2PB2B
  41.   Gemini
  42.   Coinfield
  43.   Bittrex
  44.   STEX
  45.   Binance.US
  46.   Livecoin
  47.   itBit
  48.   Coindeal
  49.   EXMO
  50.   Simex
  51.   Kucoin
  52.   Bitkub
  53.   LocalBitcoins
  54.   LakeBTC
  55.   BitUBU
  56.   Korbit
  57.   Zaif
  58.   CREX24
  59.   bitbns
  60.   BTC Markets
  61.   Coinfloor
  62.   Litebit
  63.   BitBay
  64.   Bitinka
  65.   BTCBOX
  66.   Novaexchange
  67.   Binance Jersey
  68.   Tidex
  69.   IDEX
  70.   Chaoex
  71.   CoinMate
  72.   Bleutrade
  73.   Bit2C
  74.   TradeOgre
  75.   Paymium
  76.   CEX.IO
  77.   CryptoX
  78.   Bitkonan
  79.   Token Store
  80.   BTC-Alpha
  81.   The Rock Trading
  82.   BOA Exchange
  83.   BitX South Africa
  84.   go4cryptos
  85.   OpenLedger DEX
  86.   LBank
  87.   ACX
  88.   BitFex
  89.   Indodax
  90.   Bibox
  91.   Kraken
  92.   BX Thailand
  93.   OKCoin
  94.   DSX
  95.   IDAX
  96.   Allcoin
  97.   Binance DEX
  98.   TradeSatoshi
  99.   Bisq
  100.   VirWox

List of Indian Crypto Exchanges

  1. WazirX Vashi, Maharashtra. Email : business@wazirx.com
  2. ZebPay, Ahmedabad , Gujarat. Email : support@zebpay.com
  3. Unocoin, Bengaluru, Karnataka. Email : support@unocoin.com
  4. Giottus, Chennai, Tamil Nadu. Email : info@giottus.com
  5. Btcxindia, Kondapur, Hyderabad. Email : support@btcxindia.com
  6. BuyUCoin, Karol Bagh, New Delhi. Email : support@buyucoin.com.
  7. Coindelta, Maharashtra. Email : support@coindelta.com
  8. Belfrics, Bengaluru, Karnataka. Email : support@belfrics.com