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Bitcoin ATMs

Pinkexc

What you can get: Bitcoin

Here’s a super easy way to buy Bitcoins: just go to an ATM. Instead of tapping some buttons and getting cash, you instead put cash into the machine and get Bitcoins in your wallet. Pinkexc (M) Sdn Bhd in Ipoh supports both buying and selling Bitcoin, with a 6% charge for both services.

One plus point for using an ATM is that you get your coins pretty much instantly, while also protecting your privacy as you don’t need an ID to use an ATM.

The only one currently available in Malaysia is operating in Ipoh.

Source:https://vulcanpost.com/629855/buy-cryptocurrency-malaysia-bitcoin-ethereum/

Cryptocurrency traders await Bank Negara guidelines on digital coin ATMs

PETALING JAYA: Malaysia may have seen its first digital coin auto teller machine in 2016, before the global cryptocurrency craze peaked at end-2017, but the number has not grown beyond one because, as one operator sees it, the operation of such a facility currently falls under a grey area of the country’s existing laws. 
There was no mention of the regulation of digital coin auto teller machines – more commonly known as bitcoin ATMs or BTMs – in Bank Negara Malaysia’s (BNM) policy document on cryptocurrencies released about two weeks ago. 
Earlier, XBit Asia co-founder Yuwarajan K told SunBiz that the company will wait for a comprehensive framework on digital currencies before bringing in any bitcoin ATM. 
“We don’t have a bitcoin ATM yet because BNM has to come out with all these things (the framework) first. 
“It’s very simple. With an ATM, you will know who’s withdrawing and depositing. There is a mechanism for knowing this. We’re in talks with them (the central bank), but the framework has to be out,” he said. 
Yuwarajan said XBit Asia, as a digital currency exchange which has been operating since September 2016, can operate BTMs which are connected to the platform, but they have chosen to hold off doing so while awaiting guidelines from BNM. 
PinkExc, another digital currency exchanger, brought in the country’s first BTM in 2016. 
Besides bitcoin, the machine, which is in Ipoh, also trades dash and litecoin. It allows trading of coins up to RM300 with a 10% processing fee per transaction. 
PinkExc founder Fitry Daud said the company is still in talks with Bank Negara on the operation of BTMs. “We didn’t receive any letter from BNM on the matter.” 
The company has said that it plans to set up 100 BTMs in Southeast Asia within the next three to five years. 
Digital currency exchangers operating in Malaysia are to be designated as reporting institutions under the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001, and have to update the central bank on all transaction details, but this is yet to come into practice. 
The value of Bitcoin – the world’s best-known cryptocurrency – has plummeted by almost US$2,000 (RM7,800) in the last week, a testament to its volatility. Bitcoin is currently selling for about US$9,500. It touched a high of nearly US$20,000 late last year. 
Japan, the only country which boasts regulation of cryptocurrency trading, suspended operations of two exchanges, FSHO and BitStation, from March 8. It also cautioned seven other exchanges to review and improve the security measures for their platforms and submit the steps taken by them in this regard to the regulator by March 22. The action was taken after Coincheck fell victim to a heist of US$530 million worth of digital coins, fuelling concerns over the regulators’ purview of the intangible assets. 
Meanwhile, Yuwarajan lauded Securities Commission Malaysia’s (SC) ban on Singapore-based company CopyCash, which had intended to launch an initial coin offering (ICO) here. 
“I believe that if you have a valid project, then you don’t really need an ICO. Only a few ICOs are really valid in the market,” he opined. 
“Everyone is into the trend of fundraising, they raise funds and do nothing. Actually, I haven’t seen a proper ICO until now and all the great tokens are not raised via ICOs,” he added. 
In January, the SC ordered CopyCash Coin to suspend its marketing activity in Malaysia after it found that certain representations made by the company could fall foul of securities laws. The regulator also advised investors to be cautious of the risks of fraud and to exercise due diligence before participating in ICOs.

Source: https://www.thesundaily.my/archive/cryptocurrency-traders-await-bank-negara-guidelines-digital-coin-atms-XUARCH532188

Ethereum (ETH) Faces More Scalability And Congestion Issues as Pending Transactions on Blockchain Hits 90k

The digital currency industry has been facing one crisis or the other lately. The crypto market has been suffering a big blow recently. The value of cryptos in the market has been depreciating at a very fast pace. Ethereum (ETH) is one of the most affected digital currencies in the market. The digital currency lost a great percentage of its value in November. That aside, the blockchain project is currently facing other major issues.

Ethereum (ETH) Suffers Scalability and Congestion Issues

Ethereum (ETH), after its launch, was considered as a game changer for digital currencies and blockchain. However, the blockchain is currently undergoing scalability and congestion issues. Ethereum has been encountering this congestion issue for quite some time. But the issue doesn’t seem to be going anywhere as the congestion keeps increasing by the day.

The total pending transactions on the Ethereum blockchain is on a continuous rise. According to Etherscan, the pending transactions have surpassed the 90,000 mark. Ethereum (ETH) is the third largest digital currency in the world. The blockchain of Ethereum is currently choked up and things don’t seem to be working out fine for the blockchain project.

The issue of Ethereum’s pending transactions is piling up and Ethereum needs a solution that can put all its scalability and technical issues to rest. At the time of writing, the total pending transactions on the Ethereum blockchain is at 90,932, and the number is growing swiftly, according to Etherscan.

Ethereum Blockchain Sees Less Transaction Activity

The issue of Ethereum doesn’t end at its scalability and congestion issue. Irrespective of the increasing addresses on the blockchain, the overall activity on the network has been on the downside. According to Searchain.io on the 30th of November, the new Ethereum address had surged by 8.24 percent. There had also been an increase of 5.56 percent in the active Ethereum address.

Nevertheless, the influx of transactions has dropped by 16.85 percent. The outflow of transactions on the blockchain has also dropped by 14.04 percent. As a result of the scalability issue on the network, a lot of decentralized apps and Initial Coin Offerings are migrating from the platform of Ethereum to other platforms. Other decentralize blockchain projects such as EOS, Tron, and Stellar Lumens are now a major threat to Ethereum.

For instance, PinkExc – a Malaysia-based crypto trading platform – recently migrated to the blockchain of Stellar Lumens from that of Ethereum. The trading platform migrated to the blockchain of Stellar Lumens because it meets their basic needs for a more reliable, cheaper, and faster asset value transaction token.

Another instance is Blockchain Cutie – a digital currency collectible game – which recently dumped the blockchain of Ethereum for the Mainnet of Tron (TRX). According to the firm, Tron is better when it comes to speed and scalability – common issues that the game was facing on the blockchain of Ethereum.

Source: https://smartereum.com/44421/ethereum-eth-latest-update-ethereum-eth-faces-more-scalability-and-congestion-issues-as-pending-transactions-on-the-blockchain-hits-90k-eth-news-today-eth-usd-price-today/

 

Media Statement on Implementation of Digital Assets Prescription Order

Dear Users of Pinkexc,

As per media release on 17th January 2019 (https://goo.gl/cY6X2g), we only enable user to use Send, Sell and Coinvata. We will disable Receive and Buy function. Besides, we also will not accepting new user registration for a moment.

Any questions, you can issue ticket at www.pinkexc.biz/tickets.

Regards,
Admin Pinkexc

 

PinkExc Digital Token Issuer to Move from Ethereum to Stellar Blockchain. New Listing for XLM

Stellar Lumens (XLM) recently announced that a Malaysian digital token issuer, PinkExc is planning to move to their blockchain from their current Ethereum one. The company also informed that Utilex will soon replace PinkExc and hence will be run on Stellar blockchain. In the message they also stated that they made the decision due to Stellar blockchain technology being able to meets their needs. It is a faster, cheaper and more reliable asset value transaction token.       

Company made the official announcement on their official Twitter page. It stated: “Malaysian token issuer to move from Ethereum to Stellar. PinkExc currently operates several cryptocurrencies teller machines in the country, and hosts an online exchange. The project utilized blockchain to raise fund for expansion, besides as a utility medium for transactions”.

While the company confirmed that Ethereum blockchain is simple and fast to create ERC20, it still requires measurable efforts to work on it. “ETH had a solid development team but Stellar has evolved much more than Ethereum. Stellar offers built-in capabilities that can support multi-signature authorizations, generate dividends and limit who can hold tokens and more. Most importantly, Stellar features a decentralized exchange where any token issued through Stellar can be instantly traded without relying on a third-party exchange to list the token. This means that newly issued tokens can be traded in one day, which is really fast”, continued the message.  

MORE FROM STELLAR LUMENS (XLM)

Earlier, Stellar reported that a Canadian exchanger, National Digital Asset Exchange Inc. (NDAX) had listed XLM on their platform. They made the announcement on November 28 which stated that the platform will be offering XLM/ CAD trading pair. In addition, the company informed that users can trade the stated pair on the platform for free of charge. The deadline for free transactions is January 31st next year.

Source: https://ripplenews.tech/2018/12/05/pinkexc-digital-token-issuer-to-move-from-ethereum-to-stellar-blockchain-new-listing-for-xlm/