Bitcoin Payments Are on the Rise in the Baltics

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Bitcoin Payments Are on the Rise in the Baltics

Featured

Cryptocurrencies are gaining popularity in the Baltic states where no comprehensive regulations have been introduced yet. Businesses from multiple sectors, including real estate, online trade, the hospitality industry, and even healthcare, are taking advantage of crypto payments. Some companies from the region are already offering their services globally.   

Also read: Blind Denial of Cryptocurrencies Leads Nowhere, Bank of Lithuania Says

Apartments Sold for Bitcoin

Cryptocurrencies are becoming more widely accepted in Lithuania, Latvia and Estonia, where buying a cup of coffee with bitcoin is nothing special these days. Cafes, bars, restaurants, hotels, souvenir shops, and even an orthopedic clinic, are now accepting cryptos, according to local media. It seems that the Baltic Tigers of the EU are becoming the “Bitcoin Tigers” of Europe.

Bitcoin Payments Are on the Rise in the Baltics

Crypto payments have been introduced in the real estate business by several companies selling land plots and housing units in the Baltics, Novaya Gazeta reports. Potential buyers will soon be able to purchase land and homes in the Auriai cottage settlement, which is currently under construction not far from Vilnius, the capital of Lithuania.

Crypto-priced real estate is also sold in neighboring Latvia and Estonia. The Latvian branch of Baltic Sotheby’s International Realty is offering penthouse apartments in Jūrmala for bitcoin. Recently, the Estonian realtor LAAM Kinnisvara announced it is accepting cryptocurrency for apartments in the town of Maardu, 15 minutes car drive from Tallinn. A third of the 44 units built by the company there have been sold already. The next bitcoin deal is scheduled to take place next week.

Cryptos Accepted For Clothes

Bitcoin Payments Are on the Rise in the BalticsMore than 30 locations in Vilnius accept crypto payments, in Tallinn they are 26, and in Riga – 21, according to Coinmap. Bitcoin ATMs can be found in the capitals of Estonia and Lithuania, according to Coinatmradar. Most of the businesses accepting cryptos are from the hospitality industry – cafes, bars, restaurants, souvenir shops, several hotels. Other sectors, however, are quickly catching up.

About a month ago, the United Colors of Benetton franchisee in Lithuania announced it would accept cryptocurrencies. The stores of the fashion brand in Vilnius now take bitcoin, etherium, dash, NEM, and steem through a partnership with Coppay. The Belarus-based payments provider offers instant conversion to fiat at an exchange rate based on data from multiple markets. “Our employees like it because it’s simple and easy. No additional training was needed”, said Arturas Zuokas, co-owner of the company and former mayor of Vilnius.

By the way, Lithuania already has a platform similar to the one maintained by Coppay. The local company Coingate recently signed an agreement with a French developer of online payment solutions. Through this partnership with Prestashop, the Lithuanians plan to provide services to 80,000 merchants around the world.

Bitcoin Still Unregulated

No comprehensive regulations have been adopted yet in neither of the Baltic states. Latvia has recently attempted to partially recognize cryptocurrencies for taxation purposes. Authorities in Riga said that bitcoin could “function as a means of exchange”. As a result, 20% tax will be imposed on capital gains from deals with cryptocurrency.

Bitcoin Payments Are on the Rise in the BalticsEstonia, arguably the most digitally developed Baltic country, has been mulling over issuing its own cryptocurrency. Tallinn is not giving up on the idea, despite the negative stance of the European Central Bank. Officials behind the project are still pushing for issuing “estcoin”, not as a crypto, but as a token. In any case, Estonia is resolved to proceed with its plans for a national coin.

The central bank of Lithuania, which was opposing cryptocurrencies for some time, has just started consultations with representatives of the crypto sector on a possible regulatory framework. “The blind denial, the reluctance to understand and work with the cryptocurrency world, leads us nowhere”, a high ranking official of Lietuvos Bankas said last week.

Do you think the Baltics can lead Europe in crypto adoption? Share your thoughts in the comments section below.  


Images courtesy of Shutterstock.


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This Week in Bitcoin: Taxes, Forks, Pranks and Porn

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This Week in Bitcoin: Taxes, Forks, Pranks and Porn

The Weekly

Bitcoin in Brief is your roundup of everything that matters from all over the vast cryptosphere that you might have missed. This week’s daily editions included stories about taxes, forks, pranks, porn and so much more. This weekly edition will bring you up to speed with everything covered; just make sure you keep up.

Also Read: Robinhood App Expands Cryptocurrency Trading to Another US State

A Panther’s Moonshot Bet

On Monday we reported why Pantera Capital bets on a moonshot bitcoin price point, how the world’s most popular decentralized digital asset has been forked more than 70 times, and a growing list of countries likely to let you keep your crypto profits. Additionally covered were Yahoo! Japan which confirmed that it is entering the crypto space by acquiring a stake in an exchange, and a good-hearted wager between bitcoin core and bitcoin cash supporters that exemplifies how ecosystem actors should treat one another.

The Tax Man Effect

The world’s biggest economy faced the tax man on Tuesday, as the United States and its crypto traders had to pay for last year’s gains. Economists and market bulls were insisting that this fact caused dramatic sell offs, leading to haircuts across the board. We also covered I Pay You, the supposed hack of Ian Balina, and the release of a bitcoin themed clothing line for babies.

Pornhub? We’ve Never Heard of Pornhub

On Wednesday it was revealed that Pornhub, a website we’re sure you never heard of before because nobody watches porn on the internet, has joined the crypto revolution. We also reported about how South Korea’s loss of ICOs is Switzerland’s gain; how bitcoin is blamed for every crime under the sun; why Ethereum’s Vitalik Buterin is accused of favoritism; and why bitcoin cash (BCH) is getting a ton of love from CNBC’s Brian Kelly.

This Week in Bitcoin: Taxes, Forks, Pranks and Porn

ICO Scares Investors With Ghost Prank

On Thursday we indulged ourselves with a bunch of crypto crime news stories, including an international bitcoin heist escape, the fury of a scorned woman, a bear spray robbery, and some whole food violence.

The biggest issue of the day was a German online news source claiming that Savedroid has apparently taken the money and run. The company website was replaced with a meme picture, “Aannnd it’s gone.” Founder and CEO Yassin Hankir tweeted a picture of himself on a beach, long gone. All this after having raised $50 million in an ICO. Investors were not pleased.

Truths, T-Shirts, Things That Matter

The most talked about issue on Friday was the stance that Kraken’s chief executive took against the latest actions by authorities in New York. Jesse Powell has refused to complete a questionnaire, and instead respond with strong-worded language. “When I saw this 34-point demand, I immediately thought ‘The audacity of these guys – the entitlement, the disrespect for our business, our time!…I realized that we made the right decision to get the hell out of New York,’” he said.

We also reported about a deal between privacy web browser Brave Software and Dow Jones Media Group to test blockchain technology in digital publishing; and another crypto clothing line – this time for hip adults – by The Hundreds a streetwear brand from Los Angeles.

Coinsecure Working With Authorities

This Week in Bitcoin: Taxes, Forks, Pranks and PornCoinsecure, the hacked Indian bitcoin exchange, has updated clients on Saturday about its repayment plan. The team said they have been flooded with calls and emails over the last few days regarding the disbursement of funds. And they claim to have been working with the authorities tirelessly since the incident and that there have been a lot of back and forth with several data requests. They add that they have been working on providing the data requested and that has consumed the majority of their time.

They wrote that: “We’d like to inform you, that we have started work on the claims process. Our legal team is currently reviewing contracts and our teams are working on putting together the claims form for your perusal. We are hoping that by the following weekend, we should get started and you should be able to submit your claims withdrawal requests. Please understand, that with authorities being involved and investigations underway, things do slow down a bit and we have to follow processes outlined by the authorities.”

What other stories everyone in the bitcoin world must have read this week? Share your thoughts in the comments section below. 


Images courtesy of Shutterstock.


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Markets Update: Bitcoin Cash Prices Up Over 60% This Week

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Markets Update: Bitcoin Cash Prices Up Over 60% This Week

Market Updates

The price of Bitcoin (BCH) has spiked considerably over the past two weeks as the decentralized cryptocurrency’s market has just captured a $20Bn capitalization. The market value of BCH is currently hovering around $1,250 per coin and the digital asset commands close to $1Bn in trades over the past 24-hours.

Also read: ‘Coindaddy’ Another Crypto-Rapper Rhymes About Bitcoin Life

Bitcoin Cash Markets Surge

Bitcoin (BCH) is on a rampage, surpassing most of the 1,500 cryptocurrency performances this week recorded on Coinmarketcap. Today the market value of one BCH is 13.80 percent of the price of one Bitcoin Core (BTC) token. The reason for this is due to the significant demand for BCH this past week as the currency’s trade volume has doubled in less than three days. Over the past 48-hours, the top trade on the peer-to-peer exchange Shapeshift is BTC for BCH. Over the past seven days, data shows bitcoin cash markets have seen a 60 percent gain.  

Markets Update: Bitcoin Cash Prices Up Over 60% This Week
Over the past few days, the top trade on the peer-to-peer trading platform Shapeshift has been Bitcoin (BTC) Core for Bitcoin (BCH).

Although, Bitcoin Core swaps against BCH have dropped significantly over the past few days, as bitcoin cash is capturing a lot more direct fiat trades during today’s trading sessions. BTC trades represent 40 percent of the BCH trades today, when last week they were well over 50 percent. This is followed by tether (USDT 24%), the U.S. dollar (22%), the South Korean won (7.8%), and the euro (1.8%). The influx of USD, EUR, and KRW into BCH has increased significantly this week.

Markets Update: Bitcoin Cash Prices Up Over 60% This Week
Today Bitcoin’s (BCH) price and market cap are close to 14% of the legacy BTC’s market valuations. 

  BCH/USD Technical Indicators

Technical indicators show on the daily, weekly, and 4-hour charts that BCH is positioned to continue its rally. The two Simple Moving Averages (100 SMA & 200 SMA) on the 4-hour chart are about to cross hairs with the short term 100 rising above the longer term trendline. This indicates the path to resistance will be on the upside which could lead to higher price ranges in the short term. At the moment prices are overbought according to the Relative Strength Index (RSI) which is meandering around 70.

Markets Update: Bitcoin Cash Prices Up Over 60% This Week
At the time of writing on Sunday, April 22, 2018, at 2:30 pm EDT one BCH is averaging around $1,253 per coin.

Meanwhile, the MACd is relentlessly headed northbound so a drop in price after bulls hit resistance may soon follow this run-up. Bulls have to muster up some more strength from the current vantage point all the way to $1,290 range to get some smoother seas and less sell walls. On the backside, there are solid foundations all the way back to $1,145 and more pit stops before the sub-$1,100 territories.

Markets Update: Bitcoin Cash Prices Up Over 60% This Week

BCH Infrastructure and Support Grows This Week

Bitcoin cash infrastructure and support have increased again this week as the firm Bitpay has added more BCH features to its merchant services solution. The exchange Coinmama recently added BCH and LTC to the trading platform. Meanwhile, the firm Cheapair.com’s CEO detailed how it would likely be using Bitpay over Coinbase for merchant services and will be accepting BCH. Additionally, the bitcoin cash community has been very excited about a new BCH micro-transaction powered social media system called Memo. The platform allows users to follow other profiles feeds and makes content sharing immutable by utilizing the BCH chain. Lastly, the mining operation Antpool revealed this week it would be burning 12 percent of BCH fees in order to bolster digital scarcity.

Where do you see the price of BCH headed from here? Let us know in the comments below.

Disclaimer: Price articles and markets updates are intended for informational purposes only and should not to be considered as trading advice. Neither Bitcoin.com nor the author is responsible for any losses or gains, as the ultimate decision to conduct a trade is made by the reader. Always remember that only those in possession of the private keys are in control of the “money.”


Images via Shutterstock, Shapeshift, Coin Salad, Trading View, and Coinmarketcap.


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Bitcoin Versus Government Money: One is Clearly Superior

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Bitcoin Versus Government Money: One is Clearly Superior

Op-Ed

Half of nearly all transactions involve money, a medium of exchange (MOE). For almost everyone, one of those halves has always been derived, considered, instituted by governments. Also known as fiat, government money, notes, they appear to us as inevitable, right as rain, plainly self evident. However, for the first time in a long time, those notions are being challenged by cryptocurrency. At least one of the world’s most popular versions has a real chance to take the advance of cash (peer-to-peer, permissionless, final, censorship resistant MOE) and make it a global reality. Digital cash is closer than ever imagined to mimicking its government paper predecessor, without the bother of inherent violence, carrying distinct advantages previously unavailable in history.

Also read: Five Reasons Why Bitcoin Cash is About to Win Big

What Have Governments Done to Our Money?

If you’re new to thinking about money, welcome. It’s a vast, broad subject, and one that repays upon consideration and review. Chances are you’ve given the subject more thought these days due to wild cryptocurrency price speculation news. And it is thrilling. To think you’re able to invest in a digital asset at any stage, in full or fractions, and ride its swings can fill our heads with dreams of wealth accumulation. And if that’s the spark causing you to click over here, awesome. You should also begin to learn just why this bitcoin thing, this crypto thing, this brave new world is maybe even more important than typical manias or get-rich-quick schemes.

It doesn’t take long to learn a truism: government money loses value over time. Empirically, you know this. You don’t have carry a Nobel in economics to understand most products you purchased only a short time ago are more expensive. You’ve noticed, but, well, what can be done? It’s probably natural. It’s probably the way of things. Can’t be helped for some strange reason. A candy bar I paid for two years ago costs 25 cents more today. Meh, it’s not that big of a hit.

Bitcoin Versus Government Money: One is Clearly Superior

If the thought, however, begins to gnaw at you, trouble you in some fundamental way, you’re not alone. A simple extrapolation, magnifying my candy bar price increase across other goods and services, means your money, the tickets you’re working for, your primary store of value, the measurement of how you’re doing financially, is making you toil longer, harder just to keep up. Every year. Like all the time.

For better or worse (and some folks do believe it to be for the better), this phenomenon is directly attributable to governments. Since it is they, and only they, with the sole ability to prosecute money, to mint it and circulate it, print it, it is they who have ultimate control. You don’t have to be a conspiracy nutter to feel queasy about that fact. All it takes to be less than thrilled with government service of any kind is an easy jog to your local Department of Motor Vehicles. There, time itself has ceased. All notions of hustle, achievement, competence, customer service, value, etc. have utterly and completely stopped. Now imagine those same types in charge of arguably the most important technology in your life, money. Sick to your stomach yet? Money is simply too important to leave to governments.  

Bitcoin Versus Government Money: One is Clearly Superior

More Than Just Speculation

You might, then, be ready for a rather giant intellectual leap: fiat is horrible. Placing politicians between you and your next purchase is a ghastly idea. It’s too much power for a small group of people to possess, and too tempting (as history shows) for them not to abuse such largess in favor of constituents and themselves.

Even somewhat seeming benevolent moves on their part are fraught with baked-in foolery. After the 2008 US housing bubble burst, The Great Recession, bailouts to “too big to fail” institutions shocked a great many average people. The self-same companies cozy with government legislators were allowed to collect private profits while handing over the perils of risk and loss to the taxpaying public. And though mainstream headlines abound about such institutions bravely “paying it all back,” government fiscal types are still hand holding the US economy through measures such as Quantitative Easing (QE), essentially pumping more money into markets. I’ve lost count of the gazillions sloshing around “one time only,” for “emergencies,” going on a decade now.

Bitcoin Versus Government Money: One is Clearly Superior

And year after year you’re being robbed, conned. Prices rise, your wealth, as much as you’ve been able to accumulate, is being chipped away at, and you’re encouraged toward really bad habits. It’s a US birthright, for example, to believe spending grows an economy. And who can blame the average bloke for thinking that? Those tickets he’s holding are dropping in value by the second, so it’s anything other than irrational not to spend, spend, spend, and quickly. The time tested method for real wealth accumulation and sound credit, saving, is all but a distant memory for most in the States. They’re too busy unloading their government bills to get ahead of certain disaster.

Presently, there is an alternative. Bitcoin cash (BCH). It’s the perfection of what government money has claimed for itself: peer-to-peer, permissionless, censorship resistant. No central body is in charge, no corporation, no government. Its inflation rate is capped at 21 million coins, causing relative value to grow over time as adoption increases. No longer are middlepersons required for your transactions. You and anyone in the world are free to trade in any manner you wish. No onboarding. No special license. No outrageous fees. Nearly instantaneous confirmations. A payment system (blockchain) wrapped in a currency, a legitimate first for humanity. Self contained. Immutable. Transparent and open source.    

Bitcoin Versus Government Money: One is Clearly Superior

Savers are rewarded, as BCH owners notice their currency rise in value their relationship toward money completely changes. They’re more inclined to set some aside for future reward. That’s a profound shift. Products will have to up their game in order to entice bitcoin cash holders to part with their money. And with transaction fees negligible (which is a main principle of the community’s ethos), BCHers will certainly use it to purchase goods and services as they are doing in record numbers today.

More than just MOE or a store of value, BCH is its own network settlement layer, saving time and finally putting you and your money in your control. All that is needed is a cheap phone, not even the internet, and a determination to want a kind of financial freedom people in history could have only dreamed. Welcome. We’re glad you’re here.  

Do you think bitcoin is a good answer to government inflationary money? Let us know in the comments below.


Images via Shutterstock, Pixabay. 


This is an Op-ed article. The opinions expressed in this article are the author’s own. Bitcoin.com does not endorse nor support views, opinions or conclusions drawn in this post. Bitcoin.com is not responsible for or liable for any content, accuracy or quality within the Op-ed article. Readers should do their own due diligence before taking any actions related to the content. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any information in this Op-ed article.

‘Coindaddy’ Another Crypto-Rapper Rhymes About Bitcoin Life

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'Coindaddy' Another Crypto-Rapper Rhymes About Bitcoin Life

News

Just last month news.Bitcoin.com chatted with the hip-hop artist ‘Lil’ Windex’ the Canadian rapper who made headlines last month for his rhymes about bitcoin cash. Now there is another rapper, from San Francisco, called ‘Coindaddy,’ an artist who has been coined a “Weird Al Yankovic” of cryptocurrency rap.

Also read: An In-Depth Interview With Rob Hustle

The ‘Crypto Castle,’ Fur Coats, Lambos, and Bitcoin

Arya Bahmanyar is a 28-year-old former commercial real estate broker turned hip-hop artist after allegedly becoming a millionaire from his cryptocurrency investments. According to a recent interview with the columnist Melia Robinson, Bahmanyar decided to devote his time to becoming a new rapper called ‘Coindaddy,’ and he started his own Youtube channel to release his music.

“I’m going to make songs that aren’t that good,” Bahmanyar explains in his recent interview recalling how he got started toward creating his ‘Coindaddy’ persona.

In his songs “Holding the Bag,” Coindaddy raps about a variety of cryptocurrencies and uses slang like ‘hodl,’ ‘Buying the dips,’ and ‘moon.’ Alongside this, the rapper likes to sing about lavish lifestyles, ‘Lambos’ and checking the price of BTC while getting laid. Coindaddy also does a duet with the well-known cryptocurrency musician Tatiana Moroz as well. In “Holding the Bag,” Coindaddy’s lyrics state:

If you want the ride and you want the riches then just buy more coin and get the bitches — Cuz bitcoin about to go straight through the roof it’s got the PBOC shaking in their boots.    

'Coindaddy' Another Crypto-Rapper Rhymes About Bitcoin Life
Arya Bahmanyar AKA ‘Coindaddy’

Many Artists Try to Bring Swagger to the Crypto-Game

Coindaddy already made headlines earlier this year for his New York Times appearance in the story “Everyone Is Getting Hilariously Rich and You’re Not,” which features newly made cryptocurrency millionaires and the infamous hangouts the ‘Crypto Castle,’ and ‘Crypto Crackhouse.’ Coindaddy was featured during his performance at the at the San Francisco Bitcoin Meetup’s Holiday Party at the bay-area club ‘Runway Incubator.’ Coindaddy detailed at the time he plans on releasing other songs called ‘Lambo Party’ and ‘Crypto Mom.’

“Right now all our entertainers come from outside crypto culture — not inside crypto, and we’ve got to change that,” Coindaddy explains.

'Coindaddy' Another Crypto-Rapper Rhymes About Bitcoin Life
From left to right: Coindaddy, Lil’ Windex, YT Cracker, Gramatik, and Chris Record. All of these artists have incorporated cryptocurrencies into their music tracks. 

The crypto-millionaire turned rapper says he plans to continue his illustrious career by utilizing his music to educate newbs about cryptocurrency. Coindaddy is not the only individual trying to break through as a cryptocurrency rapper who spits rhymes about bitcoin and the digital currency lifestyle. Other crypto-rappers who have made ‘bitcoin-esque hip-hop’ videos include Chris Record’s ‘Hodl Gang,’ Keem Ibara ‘Digital Gold,’ Gramatik ‘Satoshi Nakamoto,’ Team Hodl ‘Lambo Land,’ YT Cracker ‘Bitcoin Baron,’ Lil Windex ‘Bitcoin Ca$h,’ and many more artists.

What do you think about ‘Coindaddy’ or other rappers rhyming about crypto-life? Do you think more hip-hop artists will continue to rap about bitcoin? Let us know what you think about this subject in the comments below.


Images via Pixabay, Medium, and Youtube.


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PR: Essentia to Become First Blockchain Based Solution from Finnish Government Through Collaboration with MTK

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Essentia to Become First Blockchain Based Solution from Finnish Government Through Collaboration with MTK

This is a paid press release, which contains forward looking statements, and should be treated as advertising or promotional material. Bitcoin.com does not endorse nor support this product/service. Bitcoin.com is not responsible for or liable for any content, accuracy or quality within the press release.

It hasn’t been long since we offered the Dutch government a blockchain based solution for the border control issue, as we believe that introducing real world use cases is the way towards mainstream adoption of blockchain technology.

In March 2018, Essentia attended four meetings with representatives of the Finnish MTK organization, discussing possible ways of utilizing the Essentia framework.

As a result, after a month of brainstorming and discussions, it was agreed that Essentia would become the first blockchain startup to help the Finnish organization in its key objective of reducing the unemployment rate.

The Central Union of Agricultural Producers and Forest Owners (MTK) has announced its readiness to become Finland’s first organization to launch a blockchain based e-government solution.

“In blockchain, we see a number of features which could lend themselves well to the needs of entrepreneurs and citizens in the countryside as well as in the cities,” — MTK’s director of business development Marko Mäki-Hakola.

Combining with the ToitaSuomesta.fi employment service developed by CoReorient Oy, Essentia will be used by employment offices, employers and suchlike as a platform for managed employment in the local community.

There are many ways in which Essentia could be useful for MTK. Let us go through all of them.

First of all, any worker can save certificates of their performed jobs to the Essentia platform and allow their future employers and employment office to view these. This way we can ensure easier and safer cooperation. The employer can view and also add a job certificate(s) even if they are not a user of the ToitaSuomesta work mediation service. This option grants security and is actually a real time-saver both for employers and employees. Last but not least, employment offices can view the progress of the employee across all work mediation services and confirm that he/she fulfills benefits criteria.

From now on it won’t be necessary to share an individual’s entire job records between services and there will also be no need for a new database at the employment office.

MTK, whose members hail from various regional and local organizations, believe that this is only the start of real life testing for MTK’s main interest lies in other areas. One of them is managing and sharing machine-generated data from tractors, dairy, and other equipment. They are also tracking production chains, for example, forest side products from the owner to the refinery, or end-user land registries that will no longer need field sizes regularly updated; the future possibilities for blockchain technology are endless.

The Essentia framework provides the much-needed security in accessing sensitive data, as well as granting full control of the user’s private information and their digital identity in general.

We look forward to working together with the Finnish organization and moving a step closer to the idea we believe in. This is not the end, though, as we will continue searching for the best ways to utilize blockchain technology and Essentia in particular in various spheres of our day-to-day life.

Stay tuned for more information concerning the pilot implementation!

To be a part of their growing community join their Telegram channel https://t.me/essentia_one/.

Contact Email Address
matteo@essentia.one
Supporting Link
www.essentia.one

This is a paid press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release.

Bitpay Adds Bitcoin Cash Support to Checkout Point-of-Sale App

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Bitpay Adds Bitcoin Cash Support to Checkout Point-Of-Sale App

Services

Bitcoin cash is continuing to gather more support among users and service providers, with the latest example coming from Bitpay. The service now allows merchants to accept BCH payments via its Pos app, and settlement is expected soon too so that retailers can keep their proceeds in the cryptocurrency.  

Also Read: Robinhood App Expands Cryptocurrency Trading to Another US State

Bitpay BCH Checkout

Bitpay Adds Bitcoin Cash Support to Checkout Point-Of-Sale AppBitpay, the digital asset service provider based in Atlanta, Georgia, has recently updated its Checkout point-of-sale (Pos) mobile app to add support for bitcoin cash (BCH). This means that retail stores that use Bitpay to enable payments from clients can now generate BCH payment codes on the spot using a phone or tablet.

Checkout allows merchants to accept cryptocurrency payments directly on a mobile device, and orders can be priced in more than 150 currencies. It offers features designed for service businesses, including multi-employee checkout, optional on-screen tipping, simple tip reporting, and matching of order IDs entered from another point-of-sale system.

After only supporting BTC for many years, the company has been expanding its support for BCH recently. Just at the beginning of last month, it announced that BCH transfers can be applied to the firm’s Visa card invoice loads.

Bitpay Adds Bitcoin Cash Support to Checkout Point-of-Sale App

BCH Settlement Coming Soon Too

In addition to the development with Checkout, Bitpay is apparently preparing to roll out more features based on BCH for businesses. Answering requests from bitcoin cash fans for adding an option for settlement in the cryptocurrency, the company’s support team has revealed on Twitter that they are working on it and that it can be expected “soon.” This means that Bitpay’s merchant clients will be able to simply keep their sales proceeds in BCH if they so choose, instead of receiving an equivalent amount converted into BTC or USD.

Bitpay Adds Bitcoin Cash Support to Checkout Point-Of-Sale App

Unfortunately, the new BCH-improved services from Bitpay won’t be available for all types of businesses. Earlier this year the company updated its Terms of Use agreement to ban the sale of explicit sexual content (porn), guns or ammo, controlled substances (drugs) and more.

What other services should add BCH support? Share your thoughts in the comments section below. 


Images courtesy of Shutterstock, Bitpay.


Do you agree with us that Bitcoin is the best invention since sliced bread? Thought so. That’s why we are building this online universe revolving around anything and everything Bitcoin. We have a store. And a forum. And a casino, a pool and real-time price statistics.

Survey: 89% of Visa, Mastercard, Unionpay Users Know Crypto – 53% Have Purchased

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Survey: 89% of Visa, Mastercard, Unionpay Users Know Crypto - 53% Have Purchased

News

A global study of cryptocurrency purchases made by users of Visa, Mastercard, and Unionpay cards shows that 89% of respondents are knowledgeable about crypto and 53% have purchased some in the past 12 months.

Also read: Yahoo! Japan Confirms Entrance Into the Crypto Space

A Global Study

Survey: 89% of Visa, Mastercard, Unionpay Users Know Crypto - 53% Have PurchasedGlobal payment service provider Worldcore reportedly conducted a study of its customers to find out cryptocurrency usage among Visa, Mastercard, and Unionpay users. The company has approximately 300,000 customers in total.

“The purpose of the study was to determine the willingness of people to deal with digital currencies with the help of bank cards,” Russian outlet Innov.ru described, adding that the study was conducted between March and April. “The study involved more than 10,000 people from 47 countries,” Finam reported. In addition, “data on the EU countries (28 countries) and CIS [Commonwealth of Independent States] countries (12 countries) were combined,” the news outlet noted, quoting the Worldcore study results:

About 89% of respondents know well what cryptocurrency is. 53% of respondents made purchases of cryptocurrency at least once within the last 12 months.

Survey: 89% of Visa, Mastercard, Unionpay Users Know Crypto - 53% Have PurchasedAccording to RBR’s Global Payment Cards Data and Forecasts to 2022 study published in July of last year, “Unionpay has been the largest scheme globally for card numbers since 2010 and, by the end of 2016, there were more than six billion Unionpay branded cards in circulation.” Furthermore, “RBR found that Unionpay, Visa and Mastercard collectively account for 80% of cards worldwide,” the firm wrote.

Worldcore is an EU-regulated payment institution headquartered in Prague, Czech Republic. It has partnered with Bitpay to offer cryptocurrency solutions to its customers globally. In August of last year, the company announced an initial coin offering (ICO) as part of its expansion plans.

Survey Results

Survey: 89% of Visa, Mastercard, Unionpay Users Know Crypto - 53% Have PurchasedAmong respondents, 36% were Japanese, 25% were from the US, 18% were Korean, 8% were from the EU, 6% were Chinese, 3% were Latin American, 2% were Canadian, and 1% were from Russia and the CIS.

Those who bought any cryptocurrencies in the past 12 months – 21% of them used credit cards, 36% used debit cards, and 43% used other forms of payment.

Among respondents who did not purchase any cryptocurrency in this time period, 60% cited risks as the main reason. 35% of them reported having “insufficient funds” while 5% found crypto transactions to be in violation of the law.

The CEO of Worldcore, Alexey Nasonov, was quoted by Finam explaining:

Among our clients are people of different specialties and ages, but the research was conducted among a very active audience in terms of transactions. As one of the most popular services we have is mass payments around the world, as well as using cryptocurrency wallets. So initially the research was conducted among the clients who were savvy in the sphere of financial services.

While the survey shows a high rate of credit card users knowledgeable about crypto and willing to purchase them, the world’s largest banks have mostly listened to regulators and prohibited the use of credit cards for crypto purchases.

Bank of America, Citigroup, Jpmorgan, Capital One, and Discover Card have all prohibited their clients from buying cryptocurrencies using their credit cards. In the UK, Lloyds Banking Group made a similar announcement, banning customers of MBNA, Halifax, and Bank of Scotland. Canadian bank Toronto-Dominion Bank (TD Bank) have also followed suit. Furthermore, Visa severed its relationship with a number of card providers of cryptocurrencies.

What do you think of this survey? Let us know in the comments section below.


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Robinhood App Expands Cryptocurrency Trading to Another US State

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Robinhood App Expands Cryptocurrency Trading to Another US State

Finance

Two months after starting to roll out crypto trading, Robinhood has finally expanded the service to another American state. For now, it’s still supporting just bitcoin and ethereum, however the app is expected to add at least another fourteen cryptocurrencies eventually.

Also Read: Crypto Funds Drop 29.2% in March Reveals Hedge Fund Data Specialist

Robinhood Crypto Reaches Colorado

Robinhood App Expands Cryptocurrency Trading to Another US StateRobinhood Financial LLC, the Palo Alto-headquartered US stocks brokerage app, has added another location where cryptocurrency trading is supported for its clients – Colorado. The company officially announced on Friday on its twitter page that: “Robinhood Crypto is coming to a Rocky Mountain near you! Commission-free Bitcoin (BTC) and Ethereum (ETH) trading is now rolled out and available to investors in Colorado.”

Home to over 5.5 million people, Colorado is perhaps most known around the world for being the first American state to legalize both the medicinal and recreational consumption of marijuana. It is only the sixth location in the country where Robinhood’s cryptocurrency trading service is made available after the company initially launched it in California, Massachusetts, Missouri, Montana, and New Hampshire back in February.

Reaping the Benefits of Crypto

Robinhood Starts Rolling Out Cryptocurrency Trading TodayAt launch, Robinhood promised to add in many more states for crypto trading later on if everything goes as planned. As it seems now, whatever is keeping the company from rolling out nationwide immediately, it is not a lack of success. Crypto helped Robinhood reach over 4 million users (up from just 3 million in November 2017), well over $100 billion in transaction volume, and to a valuation of $5.6 billion in a new funding round (up from just $1.3 billion in a round a year before).

Besides the few selected states that the cryptocurrency trading service is available in, Robinhood also already offers market data on a total of sixteen cryptocurrencies including bitcoin, ethereum, bitcoin cash, litecoin, ripple, ethereum classic, zcash, monero, dash, stellar, qtum, bitcoin gold, omisego, neo, lisk and dogecoin. The company is also working on Robinhood Feed, a way to discuss cryptocurrencies, news, and market swings in real-time with other investors on the platform.

What country or American state should Robinhood Crypto reach next? Share your thoughts in the comments section below. 


Images courtesy of Shutterstock.


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PR: Bitcoin of America Opening New BTMs in 5 Major U.S. Cities

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Bitcoin of America Opening New BTMs in 5 Major U.S. Cities

This is a paid press release, which contains forward looking statements, and should be treated as advertising or promotional material. Bitcoin.com does not endorse nor support this product/service. Bitcoin.com is not responsible for or liable for any content, accuracy or quality within the press release.

Chicago, IL: Bitcoin of America is happy to announce that they will be expanding their services in five major U.S. cities during the next four months. The company, which is headquartered in Chicago, IL, will be opening new Bitcoin Teller Machines — also known as BTMs, Bitcoin Kiosks, and Bitcoin ATMs — in Cleveland, Los Angeles, New Orleans, Philadelphia, and Washington D.C. The new machines will be in addition to currently available BTMs in Cleveland and Los Angeles. BTMs are designed to allow regular people to buy and sell digital currencies like Bitcoin without the need for an intermediary. Bitcoin of America already operates 32 BTMs in St. Louis, Los Angeles, Indianapolis, Detroit, Columbus, Cleveland, Chicago, and Baltimore.

While BTMs resemble traditional ATMs (Automated Teller Machines), they serve a very different purpose. Instead of providing you with access to your bank accounts, they can be used to buy and sell Bitcoin and other virtual currencies. With these machines, buying and selling Bitcoin is easy and convenient for the end user. A potential buyer can use cash or the Bitcoin Wallet app on their phone to buy Bitcoin without a bank account or debit/credit card.

Bitcoin is widely considered to be the first cryptocurrency, or digital currency. While there were earlier concepts for virtual currency, but they were never fully developed. The core idea behind these virtual currencies is to create a freely exchangeable form of money that is entirely digital and secured by encryption.

Interestingly, when Bitcoins first became available to the public in 2009, they could not be bought or sold like it is today. Instead, the virtual coins had to be “mined” and collected. As they were virtually worthless at the time, they system was thought of as a simple novelty by many. Over a year after the introduction of Bitcoin, they were used for their first ever “real-world” purchase when a Florida programmer bought two Papa John’s pizzas with 10,000 Bitcoins. Today, those 10,000 Bitcoins would be worth in excess of $67 million.

Since their creation, Bitcoins have gained in both popularity and use, leading more and more physical and online companies to accept them in exchange for goods or services. However, there have been a range of difficulties associated with buying and selling the virtual coins, which is why companies like Bitcoin of America have come into existence. These companies strive to simplify the purchase and sale of digital currencies in order to make them more accessible to a wider range of people.

In fact, the very idea of virtual currency seemed laughable to some people at the time, but the idea has since gained wide adoption and acceptance. Over the last nine years, other companies have built on Bitcoin’s open source code and developed a vast array of virtual currencies over the last nine years.

About Bitcoin of America: Bitcoin of America is registered with the United States Department of the Treasury as a money services business and operates as a virtual currency exchange. In short, they help members of the public to purchase and sell digital currencies like Bitcoin without an intermediary. The company operates within both Federal and State laws that govern these types of transactions. In order to provide safe services for their clients, they have adopted Anti- Money Laundering policies and employ a Know Your Customer Policy to prevent and mitigate possible risk and violations. They currently operate in 39 states and are working toward expanding their services nationwide in the near future.

Contact Email Address
support@bitcoinofamerica.org
Supporting Link
https://www.bitcoinofamerica.org/bitcoin-atm-kiosk-locations.asp

This is a paid press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release.