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Type of business | Private |
---|---|
Founded | June 2, 2016 |
Founder(s) | Shivam Thakral Devesh Aggrawal Atulya Bhatt |
Products | Cryptocurrency exchange, Blockchain Asset Wallet |
URL | buyucoin |
BuyUcoin is a digital currency exchange and blockchain wallet service provider headquartered in New Delhi, India. It was founded by Shivam Thakral, Devesh Aggrawal, and Atulya Bhatt in 2016 from their college dorms at Harcourt Butler Technical University.[ citation needed ]
As of March 2020, BuyUcoin claims to be the second oldest cryptocurrency exchange in India with 30+ digital currencies listed and 3,50,000+ users on their platform. [1] [ non-primary source needed ]
BuyUcoin provides a platform for consumers and merchants to trade, store and use cryptocurrencies including Bitcoin, Ethereum, Litecoin, Bitcoin Cash among others. [2]
The platform offers an online open Order book based trading engine for multiple cryptocurrency markets and fiat currency like Rupee. [3] [ non-primary source needed ]
Digital currency is a balance or a record stored in a distributed database on the Internet, in an electronic computer database, within digital files or within a stored-value card. Examples of digital currencies include cryptocurrencies, virtual currencies, central bank digital currencies and e-Cash.
A cryptocurrency exchange or a digital currency exchange (DCE) is a business that allows customers to trade cryptocurrencies or digital currencies for other assets, such as conventional fiat money or other digital currencies. A cryptocurrency exchange can be a market maker that typically takes the bid-ask spreads as a transaction commission for is service or, as a matching platform, simply charges fees.
A cryptocurrency is a digital asset designed to work as a medium of exchange wherein individual coin ownership records are stored in a digital ledger or computerized database using strong cryptography to secure transaction record entries, to control the creation of additional digital coin records, and to verify the transfer of coin ownership. It typically does not exist in physical form and is typically not issued by a central authority. Some cryptocurrencies use decentralized control as opposed to centralized digital currency and central banking systems. When a cryptocurrency is minted or created prior to issuance or held on a centralized exchange, it is generally considered centralized. When implemented with decentralized control, each cryptocurrency works through distributed ledger technology, typically a blockchain, that serves as a public financial transaction database.
Coinbase is a digital currency exchange headquartered in San Francisco, California. They broker exchanges of Bitcoin, Bitcoin Cash, Ethereum, Ethereum Classic, Litecoin, Tezos, and many others, with fiat currencies in approximately 32 countries, and bitcoin transactions and storage in 190 countries worldwide.
The legal status of bitcoin varies substantially from state to state and is still undefined or changing in many of them. Whereas the majority of countries do not make the usage of bitcoin itself illegal, its status as money varies, with differing regulatory implications.
Ethereum is the second largest cryptocurrency platform by market capitalization, behind Bitcoin. It is a decentralized open source blockchain featuring smart contract functionality. Ether is the cryptocurrency generated by Ethereum miners as a reward for computations performed to secure the blockchain. Ethereum serves as the platform for over 260,000 different cryptocurrencies, including 47 of the top 100 cryptocurrencies by market capitalization.
Circle is a peer-to-peer payments technology company. It was founded by Jeremy Allaire and Sean Neville in October 2013. Circle's mobile payment platform, Circle Pay, allows users to hold, send, and receive traditional fiat currencies. In September 2015, Circle received the first BitLicense issued from the New York State Department of Financial Services. In April 2016, the British government approved the first virtual currency licensure to Circle. Circle is headquartered in Boston, Massachusetts.
Stellar is an open source, decentralized protocol for digital currency to fiat money transfers which allows cross-border transactions between any pair of currencies. The Stellar protocol is supported by a 501(c)3 nonprofit, the Stellar Development Foundation.
R3 is an enterprise blockchain technology company. It leads an ecosystem of more than 300 firms working together to build distributed applications on top of Corda for usage across industries such as financial services, insurance, healthcare, trade finance, and digital assets. It is headquartered in New York City. It was founded in 2014 by David E Rutter. The current CTO is Richard G. Brown.
Kraken is a US-based cryptocurrency exchange, founded in 2011. The exchange provides cryptocurrency to fiat trading, and provides price information to Bloomberg Terminal.
ZebPay is an cryptocurrency exchange and wallet provider headquartered in Singapore with a registered office in Australia. It is currently operational in over 163 countries, including India.
Gemini Trust Company, LLC (Gemini) is a digital currency exchange and custodian that allows customers to buy, sell, and store digital assets. It is a New York trust company that is regulated by the New York State Department of Financial Services (NYDFS) was founded in 2014, by Cameron and Tyler Winklevoss.
ShapeShift is a company that offers global trading of a variety of digital assets via web and mobile platforms. It is headquartered in Switzerland, but run out of Denver.
An initial coin offering (ICO) or initial currency offering is a type of funding using cryptocurrencies. It is often a form of crowdfunding, however a private ICO which does not seek public investment is also possible. In an ICO, a quantity of cryptocurrency is sold in the form of "tokens" ("coins") to speculators or investors, in exchange for legal tender or other cryptocurrencies such as Bitcoin or Ethereum. The tokens are promoted as future functional units of currency if or when the ICO's funding goal is met and the project successfully launches.
Bitconnect was an open-source cryptocurrency that was connected with the high-yield investment program bitconnect.co. After the platform administrators closed the earning platform on January 16, 2018 and distributed users funds in BCC, confidence was lost and the value of the coin plummeted to below $1 from a previous high of nearly $500. The coin value collapse is one of the largest in the history of cryptocurrency.
Bitcoin Cash is a cryptocurrency that is a fork of Bitcoin. Bitcoin Cash is a spin-off or altcoin that was created in 2017. In 2018 Bitcoin Cash subsequently split into two cryptocurrencies: Bitcoin Cash, and Bitcoin SV. Bitcoin Cash is sometimes also referred to as Bcash.
Binance is a cryptocurrency exchange that provides a platform for trading various cryptocurrencies. As of January 2018, Binance was the largest cryptocurrency exchanges in the world in terms of trading volume.
Cryptocurrency and security describes attempts to obtain digital currencies by illegal means, for instance through phishing, scamming, a supply chain attack or hacking, or the measures to prevent unauthorized cryptocurrency transactions, and storage technologies. In extreme cases even a computer which is not connected to any network can be hacked.
Royal Mint Gold was a digital gold currency and a cryptocurrency backed by gold reserves in the UK Royal Mint. The Royal Mint began testing blockchain transactions in April 2017. The first test transaction was in August 2017. The rollout was originally scheduled to occur by the end of 2017. US-based CME Group is administering the trading. The Daily Telegraph said it "appears somewhat similar to an exchange-traded fund such as ETF Securities Physical Gold".