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XM Guide to Start Your Trading Journey

Looking to diversify your investment portfolio? Consider trading currencies in the world’s largest, most liquid financial market: the foreign exchange or forex (FX) market. While the idea of making money in the FX market sounds intimidating for the novice trader, it can now be done more conveniently online.

XM Global Trading Platform Guide | MoneymaxXM Global Trading Platform Guide | Moneymax

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XM Global Trading Platform Guide | Moneymax

Looking to diversify your investment portfolio? Consider trading currencies in the world’s largest, most liquid financial market: the foreign exchange or forex (FX) market.

While the idea of making money in the FX market sounds intimidating for the novice trader, it can now be done more conveniently online.

Trade forex online in the comfort of your home with the help of a broker like XM Global. Before you participate in the forex market, learn more about this online forex broker and what it can do for you.

<h2 class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="What is XM Global?” data-reactid=”35″>What is XM Global?

XM Global Trading Platform - What is XM Global?XM Global Trading Platform - What is XM Global?

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XM Global Trading Platform – What is XM Global?

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="XM Global Limited is a globally licensed, multi-awarded online broker that makes trading forex and contract for differences (CFD)[1] easy and efficient through its full-featured platforms.” data-reactid=”56″>XM Global Limited is a globally licensed, multi-awarded online broker that makes trading forex and contract for differences (CFD)[1] easy and efficient through its full-featured platforms.

For more than 10 years, XM has been sharing its expertise in global financial markets with over 3.5 million traders from 196 countries, including the Philippines.

As one of the industry-leading brokerage firms, XM enables clients to trade forex and CFDs on a wide variety of instruments—stocks, stock indices, commodities, metals, and energies—using a single trading account.

<h2 class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="XM Global Review: Is XM a Good Broker?” data-reactid=”59″>XM Global Review: Is XM a Good Broker?

XM Global Limited is a legitimate broker with a global reputation for reliability and client fund safety.

Authorized to operate and provide brokerage services worldwide, the company is licensed by the following government regulatory bodies:

  • Cyprus Securities and Exchange Commission
  • International Financial Services Commission in Belize
  • Financial Conduct Authority in the UK
  • Australian Securities and Investment Commission
  • Dubai Financial Services Authority

This means the online forex and CFD broker is fully compliant with strict consumer protection standards and financial requirements by applicable laws and regulations. XM achieves that by maintaining a separate bank account for clients’ funds and having client and operational bank accounts with reputable institutions, among other measures.

Apart from being globally licensed and regulated, XM Global has earned multiple awards recognizing its excellence in forex brokerage, FX technology, customer service, and market research and education.

<h2 class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Notable XM Global Features” data-reactid=”70″>Notable XM Global Features

XM Global Trading Platform - Notable FeaturesXM Global Trading Platform - Notable Features

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XM Global Trading Platform – Notable Features

XM offers an array of features to help new and experienced traders reach their investment goals:

  • 16 online trading platforms compatible with PC, Mac, Android, or iOS
  • Personal account manager for each XM client, providing full technical support (via live chat, phone, or email)
  • 24/5 personal customer service
  • Supports more than 30 languages, including Tagalog
  • Negative Balance Protection (a guarantee that XM traders cannot lose more than their deposited amount)
  • Free access to video tutorials and forex market research
  • Daily technical analysis, forex market outlook, FX trading signals, and FX webinars
  • No requotes and no rejection of orders
  • Low minimum deposit starting as low as $5

<h2 class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="What Can You Trade Through XM Global?” data-reactid=”102″>What Can You Trade Through XM Global?

With XM trading platforms, users can trade on these six asset classes:

  • Forex – Trade any of the 57 currency pairs available—including majors (EUR/USD, USD/JPY, GBP/USD, and USD/CHF), crosses (GBP/JPY, EUR/CHF, etc.), and exotics (EUR/TRY, USD/HKD, etc.)—with real-time execution of orders and no requote.
  • Individual stocks – Get cost-effective and direct access to global equity markets, whether for short-term or long-term trading strategies.
  • Equity indices – Trade on stocks belonging to the world’s most popular stock indices, including S&P 500, Dow Jones, and Nasdaq.
  • Commodities – Invest in contract-based tradable goods such as corn, sugar, or wheat without actually owning the financial instrument on which the contract is based.
  • Precious metals – Gain profit from trading gold, silver, platinum, and palladium online in highly liquid markets, regardless of economic conditions.
  • Energies – Trading oil—the world’s most actively traded commodity—is suitable for day traders who prefer fast price movements and trading CFDs on oil prices.

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Related: How to Invest in Stocks for Beginners (Even with Little Money)” data-reactid=”111″>Related: How to Invest in Stocks for Beginners (Even with Little Money)

<h2 class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Different Types of XM Trading Accounts” data-reactid=”112″>Different Types of XM Trading Accounts

XM Global Trading - Different Types of XM Trading AccountsXM Global Trading - Different Types of XM Trading Accounts

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XM Global Trading – Different Types of XM Trading Accounts

An XM forex trading account allows you to trade on currencies. You can choose from micro, standard, ultra low micro, and ultra low standard formats.

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="All account types come with negative balance protection, provide flexible leverage from 1:1 to 888:1, and allow hedging[2].” data-reactid=”134″>All account types come with negative balance protection, provide flexible leverage from 1:1 to 888:1, and allow hedging[2].

<h3 class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Here are the key differences between the four XM trading account types:” data-reactid=”135″>Here are the key differences between the four XM trading account types:

<h4 class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="1. Micro Account” data-reactid=”136″>1. Micro Account

  • Base currency options: USD, EUR, GBP, JPY, CHF, AUD, HUF, PLN, RUB, SGD, ZAR
  • Lot size: 1,000 units of the base currency
  • Minimum deposit: USD 5

<h4 class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="2. Standard Account” data-reactid=”141″>2. Standard Account

  • Base currency options: USD, EUR, GBP, JPY, CHF, AUD, HUF, PLN, RUB, SGD, ZAR
  • Lot size: 100,000 units of the base currency
  • Minimum deposit: USD 5

<h4 class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="3. Ultra Low Micro” data-reactid=”146″>3. Ultra Low Micro

  • Base currency options: EUR, USD, GBP, AUD, ZAR, SGD
  • Lot size: 1,000 units of the base currency
  • Minimum deposit: USD 50

<h4 class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="4. Ultra Low Standard” data-reactid=”151″>4. Ultra Low Standard

  • Base currency options: EUR, USD, GBP, AUD, ZAR, SGD
  • Lot size: 100,000 units of the base currency
  • Minimum deposit: USD 50

<h2 class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Demo Account vs Real Account” data-reactid=”156″>Demo Account vs Real Account

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="First-time forex traders may open a demo account before using a real one to get the feel of online trading in the forex market.” data-reactid=”157″>First-time forex traders may open a demo account before using a real one to get the feel of online trading in the forex market.

XM demo accounts simulate real-time market conditions, provide full access to multiple trading platforms, and enable trading with virtual funds worth USD 100,000. Using a demo account allows you to see how the execution of orders works on an XM trading platform.

Because demo accounts are free, unlimited, and non-expiring, you can use them to test your trading strategies for as long as you want at your own pace.

Once you’re familiar with the system and confident with your forex trading strategies, you can already start trading with real funds under real market conditions. For that, you need to create a real trading account on XM.

<h2 class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="XM Global Trading Platforms” data-reactid=”165″>XM Global Trading Platforms
XM Global Trading - MT4 and MT5 PlatformsXM Global Trading - MT4 and MT5 Platforms

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XM Global Trading – MT4 and MT5 Platforms

XM Global offers online trading platforms that help clients perform forex market analysis and execute trades.

Their trading platforms work with Windows and Mac computers, as well as Apple and Android devices. They display key indicators, such as the following, that help users make trading decisions:

  • Live prices and symbols of trading instruments
  • Chart window that shows historical prices, indicators, and other tools
  • Active, pending, and closed trades

Choose from two types of XM forex trading software: MetaTrader 4 (MT4) and MetaTrader 5 (MT5). The right trading platform to use will depend on your needs as a trader.

<h3 class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="XM MT4 Trading Platform” data-reactid=”193″>XM MT4 Trading Platform

Mainly a forex trading platform, the MT4 is the most popular software for retail FX trading because of its easy-to-use features and ability to automate trading. This is the recommended platform if you want to focus on forex trading.

<h3 class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="XM MT5 Trading Platform” data-reactid=”195″>XM MT5 Trading Platform

The MT5 is a multi-asset trading platform. Aside from forex, you can also trade individual stocks, equity indices, precious metals, energies, and cryptocurrencies. Trade on the MT5 platform if you want to diversify your investments.

<h2 class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="How to Start Trading with XM Global” data-reactid=”197″>How to Start Trading with XM Global

XM Global Trading - How to Start Trading with XMXM Global Trading - How to Start Trading with XM

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XM Global Trading – How to Start Trading with XM

Whether you’re a beginner or a pro in forex trading, you’ll find the XM platform easy and convenient to use, from account opening to the actual trading.

Take these simple steps to begin your journey as an XM forex trader.

<h3 class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="1. Sign Up for an XM Trading Account” data-reactid=”220″>1. Sign Up for an XM Trading Account

A forex trading account gives you access to your preferred platforms and the XM Members Area where you can monitor and manage your account. Creating an account takes only around five minutes.

<h4 class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="How to Open a Trading Account” data-reactid=”222″>How to Open a Trading Account

  1. On the XM homepage, click the Open a Live Account button. This will take you to the XM Real Account Registration page (or directly access the page here).
  2. Fill out the online form with the required details.
  3. Select MT4 or MT5 as your trading platform.
  4. Choose the account type you want to trade on.
  5. Click the Proceed button to go to the next page
  6. Fill out another form with details about your trading account, yourself as an investor, and your trading knowledge and experience.
  7. Create a password for your trading account. It must have at least two numbers, lowercase letters, or uppercase letters. Re-type your password to confirm it.
  8. Read and accept the Terms and Conditions and other policies.
  9. Click the Open a Real Account button.
  10. Check your inbox (or Spam folder) for a message from XM with a link to confirm your email. Click on the email confirmation link to complete your account registration.
  11. You’ll be taken to the XM Members Area where your MT4/MT5 ID number is displayed. Enter the password you created during your account registration. Click the Login button.
  12. Check your inbox again for a message with your MT4/MT5 ID and server name, as well as links that will allow you to log in to the Members Area and download your chosen trading platform.

<h3 class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="2. Validate Your Trading Account” data-reactid=”236″>2. Validate Your Trading Account

To access all XM trading account features and benefits, including fund withdrawal, submit the required documents for validating your account.

<h4 class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="XM Global Requirements for Account Validation” data-reactid=”238″>XM Global Requirements for Account Validation

  • Proof of identity – Valid passport or any valid government-issued ID that contains your complete name, ID issue/expiry date, birthplace and birthdate or TIN, and signature
  • Proof of residency – Recent utility bill or bank account statement with your name and address and dated within the last six months

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="How to Submit Your Account Validation Documents” data-reactid=”242″>How to Submit Your Account Validation Documents

  1. Go to the XM Members Area.
  2. Enter your MT4/MT5 ID number and password. Click the Login button.
  3. Click on “Validate Your Account Now.”
  4. Upload clear and colored copies of the requirements for account validation.
  5. Wait for an email confirmation from XM’s Validation Department that your account has been successfully validated.

<h3 class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="3. Make a Deposit to Your Trading Account” data-reactid=”249″>3. Make a Deposit to Your Trading Account

XM clients can choose from a broad range of payment options for fund deposit or withdrawal. These payment methods include credit cards, e-wallets, local bank transfer, and wire transfer.

Funds can be deposited in any currency, which will be converted automatically into your account’s base currency.

<h4 class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="How to Deposit Funds” data-reactid=”252″>How to Deposit Funds

  1. Log in to the XM Members Area.
  2. Click the Deposit Funds button.
  3. Choose your preferred payment method.
  4. Follow the provided instructions on how to deposit money through your chosen payment method.

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Available Methods for Depositing Funds” data-reactid=”258″>Available Methods for Depositing Funds

  • Credit/Debit Cards
  • Online Bank Transfer
  • Neteller
  • Skrill
  • WebMoney
  • Perfect Money
  • SticPay
XM Global Trading - Deposit FundsXM Global Trading - Deposit Funds

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XM Global Trading – Deposit Funds

Take note that available methods may vary depending on your country of origin. For Online Bank Transfer, below is the list of local banks available for XM.

  • BDO
  • BPI
  • China Bank
  • Metrobank
  • RCBC Savings Bank
  • Robinsons Bank
  • UnionBank EON
  • UCPB
XM Global Trading - Online Bank TransferXM Global Trading - Online Bank Transfer

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XM Global Trading – Online Bank Transfer

Payments made via Online Bank Transfer will be redirected to Dragonpay wherein over-the-counter processes via SM, Cebuana, ECPay, RuralNet Bankks, and Coops are also available.

<h4 class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="How to Withdraw Funds” data-reactid=”318″>How to Withdraw Funds

To request a fund withdrawal, simply click the Withdraw Funds button in the Members Area and enter the amount you wish to receive. Your request will then be processed within 24 hours.

Your money will be sent back on the same day or up to five business days to the payment method you used for making a deposit.

<h4 class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="How Much are the Deposit and Withdrawal Fees?” data-reactid=”321″>How Much are the Deposit and Withdrawal Fees?

XM Global does not charge any fee for making a deposit or withdrawal, regardless of the payment method used. The company shoulders all transaction fees for its clients, except for deposits less than USD 200 via international bank wire transfer.

<h3 class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="4. Install the Trading Platform” data-reactid=”323″>4. Install the Trading Platform

At this point, all you have to do is download, install, and log in to the XM trading platform before you start using it.

<h4 class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="How to Install the XM Trading Platform” data-reactid=”325″>How to Install the XM Trading Platform

  1. On the XM homepage, click on “Platforms” at the top menu.
  2. Select your preferred trading platform (MT4/MT5) and operating system (PC/Mac for computers or iPhone/Android for smartphones or tablets).
  3. Click the Download button.
  4. The setup window will appear. Click the Save File button to download the XM.exe file.
  5. Go to your Downloads folder (or any other folder where you save your downloaded files). Then double-click the XM setup file.
  6. Read and agree to the End-User License Agreement. Click the Next button.
  7. Wait for the installation process to complete. Click the Finish button.

<h4 class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="How to Access the Trading Platform” data-reactid=”334″>How to Access the Trading Platform

  1. Double-click the XM icon on your desktop to launch the trading platform.
  2. Select your trading server. Click the Next button.
  3. Select “Existing trade account” and enter your MT4/MT5 ID and password (the same login credentials you’re using to access the Members Area).
  4. Click the Finish button.

Everything’s set—now you can start trading using the XM platform.

<h2 class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Final Thoughts” data-reactid=”341″>Final Thoughts

The potential to earn profit in the forex market is high, and so are the risks. It’s best to start with a demo account, so you can familiarize yourself with how the XM Global trading platform works. Explore the XM Members Area and learn as much as you can, too. Arm yourself with the knowledge and confidence needed to succeed in the forex market.

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="This article was created in partnership with XM. While we are financially compensated for this collaboration, we ensure to maintain our editorial integrity to provide you with the best recommendations that can help you make smarter financial decisions.” data-reactid=”343″>This article was created in partnership with XM. While we are financially compensated for this collaboration, we ensure to maintain our editorial integrity to provide you with the best recommendations that can help you make smarter financial decisions.

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Find the right credit card for you!

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Sources:” data-reactid=”357″>Sources:

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="DISCLAIMER: Information published on this blog or elsewhere on www.moneymax.ph should be used for general information purposes only and does not constitute investment advice, performance data or any solicitation or recommendation that any security, investment product, transaction or investment strategy is suitable for any specific person. This material does not take into account your financial situation, risk tolerance level, investment experience or objectives; all of which are unique to you. Before acting on information on this blog, we suggest consulting an independent professional to advise you on the risks of any decision and the extent of any exposure to loss.” data-reactid=”361″>DISCLAIMER: Information published on this blog or elsewhere on www.moneymax.ph should be used for general information purposes only and does not constitute investment advice, performance data or any solicitation or recommendation that any security, investment product, transaction or investment strategy is suitable for any specific person. This material does not take into account your financial situation, risk tolerance level, investment experience or objectives; all of which are unique to you. Before acting on information on this blog, we suggest consulting an independent professional to advise you on the risks of any decision and the extent of any exposure to loss.

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="The post XM Guide to Start Your Trading Journey appeared first on Moneymax.” data-reactid=”362″>The post XM Guide to Start Your Trading Journey appeared first on Moneymax.

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RoboForex adding EOS Cryptocurrency

RoboForex adding EOS Cryptocurrency

RoboForex announced today adding EOS, a cryptocurrency which is now available for trading with the broker on both MT4 and MT5 platforms.

Roboforex added EOS CryptocurrencyCurrently, RoboForex clients have 7 crypto instruments to choose from.

RoboForex keeps expanding its crypto portfolio.

The latest addition is EOSUSD, which is already available to the clients through MT4 and MT5, alongside with six other crypto pairs:

BTCUSD, ETHUSD, BCHUSD, DSHUSD, LTCUSD, and XRPUSD.

The EOSUSD trading conditions are the following:

  • minimum lot size: 100,
  • minimum increment: 0.01,
  • leverage 5:1.

EOS is a cryptocurrency that was introduced in 2017 and is based on blockchain and smart contracts. Its key features are scalability, decentralized apps, and huge throughput (a few million transaction per second).

This is another step towards developing our crypto portfolio.

Our clients do value the flexibility and state of the art technologies we offer them As for us, our mission is meeting their expectations and constantly improving the trading conditions by opening the door to new instruments and opportunities.

says Denis Golomedov, ;Marketing Director at RoboForex.

Roboforex and Cryptocurrency

This Broker has been on the forefront of crypto trading on the Metatrader 4 and Metatrader trading platforms from the beginning and pushing for more and more trad-able assets to be added to their offering .

it took this broker a little bit of time but now that they got them selves into the cryptocurrency trading arena they come to lead the pack. this in combination with their the trading platforms they are offering makes this a broker to take notice of.

as yet there are not enough brokers that offer metatrader 5 and especially one where you are able to trade bitcoin ethereum, litecoin and now also EOS.

About RoboForex

RoboForex is a brokerage company catering to clients from various countries. The broker’s focus is providing the traders with access to its own financial market platforms.

RoboForex Ltd is a licensed company (License No. IFSC/60/271/TS/17).

 

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Local bitcoin Trader Jailed for Money Laundering

Indicted: Local bitcoin Trader Jailed for Money Laundering

Local Bitcoin trader, Theresa Lynn Tetley, also widely known as Bitcoin Maven has been indicted for indulging in illegal bitcoin-for-cash transactions. According to the Central District of California, the LocalBitcoins.com trader has been sentenced to 12 months in prison.

She has also been handed a three-year supervised release and a $20,000 fine. A former real estate investor and stockbroker, the court ordered her to relinquish $292,264.00 in cash, 25 assorted gold bars, and 40 bitcoin.

money launderingTetley pled guilty to one count of operating an unlicensed money exchange business, and another related to money laundering. Her case is the first of its kind in the Central District of California.

Tetley was procedurally supposed to register her business with the Financial Crimes Enforcement Network, an agency of the United States Department of the Treasury.

The agency is responsible for analyzing transactions to curb money laundering and related financial crimes. She also failed to implement standard anti-money laundering protocol, including reporting of certain financial sources as per the requirements of this type of business.

Tetley is said to have traded over $6 million for clients within the United States and charged higher rates as compared to other traders within the LocalBitcoins platform.

Also noted in the court documents was that Theresa Lynn laundered bitcoin for a customer who had been suspected of having acquired the cryptocurrency through illegal activities, including drug sales on the dark web.

She also carried out a bitcoin to cash transaction for an undercover agent who had explicitly declared that his bitcoin was tied to narco-trafficking operations.

According to the report, Tetley’s service was responsible for fueling the growing use of cryptocurrencies to launder money and supported a black market system set up purposely to circumvent the law.

The organizations involved in her investigation included the IRS Criminal Investigation and the Drug Enforcement Administration.

Just One of Many

That said, the government has been committing significant resources to counter the crypto – dark web menace, and earlier this month, a major sting operation was carried out against a major money laundering network. Thirty-five suspects were arrested.

One individual, identified as John Edward Monette, was charged with Conspiracy to Distribute a Controlled Substance. He was also alleged to have carried out numerous bitcoin for cash exchange transactions on the dark web, most of them in 2017 and totaling about $19,000.

Another dark web vendor busted during the operation, Ryan Farace, 34 was indicted for being involved in an alprazolam tablets manufacture and distribution scheme.

He sold the drugs on the dark web, with all transactions being made in bitcoin. Additional digital currency money laundering transactions were made to conceal the sources.

Article Originally Published:

By ELIZABETH GAIL at Coincentral

 

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Why You Need to Get Onboard With Blockchain!

Why You Need to Get Onboard With Blockchain!

Blockchain tech – so revolutionary in nature that some are calling it the “new internet.” It has applications in just about every industry, and has completely altered the way we think about internet security, the processing of information, and the speed of transactions.

Blockchain is the technology that supports the digital currency  or cryptocurrency called Bitcoin –

however this is not what it is really about as it has a far wider scope of applications and is being commercialized in a growing number of areas.

It has generated much interest in technology circles and beyond, because of the new possibilities it opens up in financial services, the public sector and other areas.

According to sites like BitFortune.net, blockchain tech is definitely worth keeping an eye on due to the myriad of benefits it provides.

Blockchain and Bitcoin are not the same thing – Bitcoin is implemented using blockchain technology, but blockchain technology can be used in contexts much wider than Bitcoin or other cryptocurrencies. so when we are talking about the blockchain we are talking about a combination of a number of technologies, these including:

  • Distributed ledgers.
  • The blockchain data structure.
  • Public key cryptography.
  • Consensus mechanisms.

Part of what makes it so exciting is that it is completely open source. As a result, there are already a number of interesting blockchain apps, and the number is growing daily.

The technology is so secure that it is already being used by DARPA to secure military data. Various governments around the world are working on ways to use the tech to protect their own data.
The tech is tamper-proof, and the data stored within it is permanent. It cannot be erased or altered, and this is what makes it so enticing to those needing more secure networks.

But there is more, folks. (Okay, so that sounds a bit like an infomercial, but the benefits are real nonetheless.) Transactions can speed across the network – taking only as much time as it takes for them to be authorized.

The blockchain cannot be described just as a revolution. It is a tsunami-like phenomenon, slowly advancing and gradually enveloping everything along its way by the force of its progression.

William Mougayar

The system runs without the need for an intermediary, and this reduces the time it takes to execute transactions. This, and the unique way that the tech works, means that costs are significantly reduced as well.

What makes it so revolutionary is that the information is spread across every computer within the network. With Bitcoin, that means the data is securely “backed up” over thousands of computers.

Now, it is unlikely that banks will entrust their data to a public network in the same way, but they have been working on creating networks of their own instead.

The potential savings in terms of cost and time are extensive. If you want to learn more about these savings, check out the infographic below.

 

Why You Need to Get Onboard With Blockchain!


Why You Need to Get Onboard With Blockchain!


Visit bitfortune.net . for more interesting Infographics

Guys did an amazing job and was allowed to share.


 

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