Bitcoin payment gateway, Cryptopay just added a mobile app to its growing number of existing resources as it plans to launch an ICO based on requests from users who are interested in investing into the already viable company.
The payment gateway which has been in existence since 2013 provides Bitcoin wallets, debit cards and innovative merchant processing solutions, thereby enabling easy purchase, storing and sending of Bitcoins all over the world.
Bitcoin market accessibility
Accessibility into the Bitcoin ecosystem has been one of the major obstacles behind the delayed mainstream adoption of the cryptocurrency. Where to buy, sell or exchange Bitcoin with fiat remains a missing link to majority of those seeking entry into the crypto space. Merchants who may consider adopting Bitcoin as a mode of payment for easy transactions are also stuck between receiving Bitcoins and converting to fiat.
Hedging against volatility
Due to the relatively low trade volume and market capitalization, it is very common to experience significant volatility in the price of Bitcoin at the instance of any news or development within the community. In such cases, Bitcoin could experience as much as several hundreds of dollars change in price over short periods. These fluctuations have become reasons for the reluctant application of the cryptocurrency by many.
To hedge against such disparity in price, Cryptopay offers 3 FLEX accounts in EUR, GBP, USD thereby making it easy for users to hedge their Bitcoins against major currencies for security and assurance.
Cryptopay debit cards
Traditionally, tangible products like bank notes, debit cards and cheque books promote easy application and sentimental attachment to the concept of money. But most important is the process of adapting with already existing systems offered by such tangible products.
Cryptopay’s Bitcoin debit cards (virtual & plastic) can be used anywhere Visa debit cards are accepted, and these cards can be loaded directly with funds from users’ Cryptopay Bitcoin Wallet and spent virtually or traditionally anywhere major payment cards are accepted.
These cards work online, offline and internationally, making it simple for customers to use bitcoin at millions of businesses around the world.
Regulation and security
Bitcoin has been criticized in some quarters as an enabler of shady transactions. This is due to its high level of privacy and relative anonymity. Therefore, meeting up with monetary transaction policies of major governments and financial institutions play a huge role in the implementation and use of the cryptocurrency within the conventional society.
Cryptopay upholds the regulation standards as obtained in most major economies. Also, AML/KYC policies and standards of governments and institutions are strictly adhered to.
Users at Cryptopay are required to prove their identity by sending in documents such as IDs, driving licenses etc. Also, they are required to prove their addresses with statements like utility bills, internet bills etc. The same mechanics is being applied in the first stages of ICO where only verified users will be allowed to invest.
Leading by example
Cryptopay sees this as a good opportunity to carry out an honest and transparent ICO that unlike any other is based not only on the whitepaper but on the products that already work, having been well acclimatized with the market.
In the future, the company plans to tie the ICO to the Cryptopay service performance metrics. This would imply that the amount of tokens that would be allocated to users will be determined by their contribution and engagement within the platform.
- Blockchain-Based Travala.com Teams Up with Dash For Hotel Booking Payments - July 18, 2019
- SEC And FINRA Approves First Reg A+ Token Offerings - July 18, 2019
- Tokinex Tolken Sale Sells out in 35 Seconds - July 18, 2019
- 18 Organisations Launch The Convergence Alliance To Enable A New Open Data Economy Built On The Decentralized Web - July 9, 2019
- Bittrex Acquires Tradedash - July 3, 2019
- Korea’s Cube Systems Rolls Out New Blockchain eCommerce Platform - July 3, 2019
- Clinlogix Joins ALTEN Calsoft in Launching Blockchain for Clinical Trials - July 3, 2019
- Binance Charity forms alliance with 46 companies to unveil a stablecoin for the alleviation of period poverty - July 3, 2019
- Nestlé Breaks from IBM Food Trust Blockchain Group for New Milk Supply Chain Trial - July 3, 2019
- Tokeny Solutions Digital Asset Platform Gets €5 Million Backing from Euronext - July 3, 2019
- Blockchain Venture Capital Funding Reaches $822 Million in 2019 - July 1, 2019
- Toronto’s Creative Destruction Lab Joins Facebook’s Libra Association - June 19, 2019
- Australia’s Power Ledger to bring P2P Energy Trading to Austria - June 19, 2019
- Litecoin Foundation Teams Up With Bibox And Ternio On Special Edition Litecoin Debitcard - June 19, 2019
- US Legislators Call for Halt to Facebook’s Cryptocurrency Plans – And to Face Congress - June 19, 2019
- Hyperledger Welcomes Diverse Line-up of New Members for Identity Project - June 18, 2019
- Facebook Announces Calibra Digital Wallet and Libra Cryptocurrency - June 18, 2019
- MIT Professor Silvio Micali’s Algorand Project Announces Date for First Auction - June 6, 2019
- SEC sues Canadian Messaging Service Kik Selling Unregistered Securities in its $100 million ICO - June 4, 2019
- CrowdEngine Teams Up With Polymath Adding Security Token Issuance to List of Crowdfunding Services - June 3, 2019