Enabling Cryptocurrency Transactions Key to Going
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Posted On: 05/31/2018 5:52:18 PM
Enabling Cryptocurrency Transactions Key to Going Mainstream
NetworkNewsWire Editorial Coverage: Whenever bitcoin or other cryptocurrencies are discussed, two primary predictions seem to prevail. Either cryptocurrencies are history’s greatest bubble about to burst, or they’re new undervalued global mediums of exchange worth untold millions. The actual outcome is likely to rest somewhere in the middle of these two extremes. Some pundits have compared the rise of cryptocurrency to the dot-com bubble, suggesting the fintech trend is worthless and on the precipice of a titanic bust. Remember, however, that even though the dot-com boom produced plenty of fiascos, it also gave birth to the likes of Amazon and Google. As cryptocurrency markets become more standardized and regulated, both winners and losers will shake out. Realizing these digital mediums of exchange will likely integrate into the global financial system in a significant fashion, evaluating companies that enable cryptocurrency transactions makes sense. Companies at the vanguard of facilitating global cryptocurrency transactions such as Virtual Crypto Technologies Inc. (OTCQB: VRCP) (VRCP Profile), PayPal Holdings, Inc. (NASDAQ: PYPL), Square, Inc. (NYSE: SQ), Broadridge Financial Solutions, Inc. (NYSE: BR) and Green Dot Corporation (NYSE: GDOT) will not only accelerate universal adoption but also have the potential to emerge among the biggest winners in the entire crypto universe.
The Internet of Money
Imagining the potential of cryptocurrencies is like trying to imagine the potential of the internet in 1992. In less than 20 years, the internet transformed interactions around the world and has permanently impacted lives. Reflecting the envisioned potential of cryptocurrency, the fintech creation has been christened “the internet of money” by Andreas Antonopoulos, a world-leading bitcoin and blockchain expert. He and many others believe that the decentralized technology of cryptocurrency has potential far exceeding the label of digital currency and will contribute to solving global social, political and economic problems.
Of four key factors Antonopoulos identified that need development, fair and functional ATMs are among the most important to nurture industry growth. ATMs with reasonable fees are required for cash and instant transactions, but many users currently find when they arrive at an ATM that it’s simply not working or that the premiums are incredibly high, he argued in a March discussion of bitcoin’s development (http://nnw.fm/p1lRL).
Barrier Breakthrough
Using proprietary, algorithmic technology to audit bitcoin and its crypto equivalent transactions in real-time, Virtual Crypto Technologies Inc. (OTCQB: VRCP) looks to become an integral player in the global crypto revolution. Breaking down barriers of crypto complexity, Virtual Crypto’s exclusive technological conduit between the three primary pillars of the cryptocurrency ecosystem — exchanges, wallets and payments — allows global access to instant cash exchanges for people, businesses and even machines. The global cryptocurrency ATM market is expected to reach nearly $300 million by 2025, with a CAGR of 45.8 percent, yet only 30 percent of the machines now allow two-way trades.
No less than U.S. Comptroller of the Currency Joseph Otting has stated that cryptocurrency has the potential to go mainstream (http://nnw.fm/XxI9H). To achieve such import, the cryptocurrency market must grow, simplify, then become ubiquitous, much as the internet did. Spendability is a critical feature cryptocurrency must have for industry development; it must attain the ability to access and spend virtual money at merchants and retailers as quickly and easily as regular cash. There must also be a system to manage payments with the inherent ability to handle different payment options, both fiat and cryptocurrencies. Without overcoming these barriers, widespread acceptance is likely to implode.
Resolving the logjam of crypto transactions, which can take from 10 minutes to 24 hours, Virtual Crypto’s transformative trading platform, NetoBit, instantly confirms the purchase or sale of bitcoin and its crypto equivalents. All trades and exchanges are insured up to $3,000 per trade.
Differentiated from Competition
Until now crypto payment methods have relied on banking cards and crypto wallet technology. Using cards creates more problems than it solves, however. In almost every case, a specific token is created to bridge between crypto and fiat. But this creates a huge problem: every financial entity within the transaction chain, whether consumers, merchants, retailers or even countries, needs to agree upon and accept a certain token. Beyond the challenges such requisite unanimity entails, the system places power and control in the hands of the token creator, which is antithetical to the underlying premise of cryptocurrency.
Virtual Crypto has created a disruptive market gateway — not a transactional token — that reinforces the decentralization and expansion of cryptocurrencies. Virtual Crypto’s NetoBit market gateway eliminates the standard moribund hardware environment of requiring a credit/debit card to be present. NetoBit Pay allows crypto payments to take place without a card, making funds broadly accessible worldwide even to businesses that don’t have credit clearing.
Crypto wallet payments require customers to download and open a specific crypto wallet to pay a business. The business must then wrestle with the fiat-crypto exchange. If the business wants real-time exchange rates from crypto to fiat currency, it must immediately sell the crypto on an open exchange subject to market risks and fluctuations.
With Virtual Crypto’s NetoBit, cryptocurrency holders get instant confirmation of bitcoin and its crypto equivalents at the best crypto exchange rate at the point of transaction, facilitating a quantum leap in the quest to bring cryptocurrencies to the mass market. Virtual Crypto’s cryptocurrency ATM, embedded with currency exchange transaction validation (CETV) in its hardware and software, accepts and dispenses cash and cryptocurrency in seconds.
NetoBit ATM over-the-counter, two-way transaction solution is uniquely available through one app, providing online cryptocurrency transactions at ecommerce and gaming portals. The app provides easy buying and selling of bitcoin with cash, enables traders to buy and trade crypto, and allows gamers to transfer cryptocurrency into cash after play. Crypto users can withdraw funds from their crypto accounts through a NetoBit cryptocurrency ATM or software-enabled tablet, and consumers can purchase retail with crypto from businesses that offer and use the NetoBit software.
Virtual Crypto’s NetoBit solution delivers maximum flexibility. Antiquated technology such as Bitpay Checkout and its product Bitpay Card are more like prepaid cards, where a customer is limited to the amount of money preloaded in the specific wallet. The NetoBit solution provides a way for consumers to pay from any wallet at any business using NetoBit and empowers businesses to receive payments at the best possible exchange rate.
Payment Processing on Steroids
Companies that facilitate global fiat payment processing command enormous market valuations. Most in the sector have billions in market capitalization, and future payment processing values may be astronomical. A quick look at just a few fiat processors shows market caps that range from $3.7 billion to $96 billion. Virtual Crypto has developed what may become an industry standard crypto processing solution yet trades at a market cap of just over $11 million. It seems that somewhere between that $11 million and the fiat sector’s $96 billion could be an opportunity on steroids.
With a market capitalization over $96 billion, PayPal Holdings, Inc. (NASDAQ: PYPL) enables digital and mobile payments on behalf of consumers and merchants worldwide. It also offers gateway services that enable merchants to accept payments online with credit or debit cards. The company’s platform allows consumers to shop by sending payments, withdraw funds to their bank accounts and hold balances in their PayPal accounts in various currencies.
Square, Inc. (NYSE: SQ) has a market valuation of more than $22 billion from providing payment and point-of-sale solutions throughout the world. The company’s commerce ecosystem includes point-of-sale software and hardware that enables sellers to turn mobile and computing devices into payment and point-of-sale solutions. The company provides hardware as well as Square POS software, which provides access to the financial system and allows customers to electronically send, store and spend money.
With market capitalization of nearly $14 billion, Broadridge Financial Solutions, Inc. (NYSE: BR) is a leading provider of investor communications and technology-driven solutions to banks, broker-dealers, mutual funds and corporate issuers globally. Broadridge’s processing and managed services solutions help clients reduce their capital investments in operations infrastructure, allowing them to increase their focus on core business activities. Its Global Technology and Operations segment offers computerized real-time transaction processing services.
With a market value of $3.7 billion, Green Dot Corporation (NYSE: GDOT) engages in the provision of prepaid cards, debit cards, checking accounts, secured credit cards, payroll debit cards, consumer cash processing services, wage disbursements and tax refund processing services. It operates through Account Services and the Processing and Settlement Services segments. The Account Services segment offers deposit account programs that can be acquired through omni-channel distribution platform. The Processing and Settlement Services segment comprises products and services that all specialize in facilitating the movement of funds on behalf of consumers and businesses.
Crypto payment processors have the potential to emerge among the biggest winners in the entire crypto ecosystem despite apocalyptic “bubble” concerns, thanks to the wide-open potential of a cryptocurrency market that mirrors the promise the internet showed during its nascient era.
For more information on Virtual Crypto Technologies, please visit Virtual Crypto Technologies (OTCQB: VRCP).
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
NetworkNewsWire Editorial Coverage: Whenever bitcoin or other cryptocurrencies are discussed, two primary predictions seem to prevail. Either cryptocurrencies are history’s greatest bubble about to burst, or they’re new undervalued global mediums of exchange worth untold millions. The actual outcome is likely to rest somewhere in the middle of these two extremes. Some pundits have compared the rise of cryptocurrency to the dot-com bubble, suggesting the fintech trend is worthless and on the precipice of a titanic bust. Remember, however, that even though the dot-com boom produced plenty of fiascos, it also gave birth to the likes of Amazon and Google. As cryptocurrency markets become more standardized and regulated, both winners and losers will shake out. Realizing these digital mediums of exchange will likely integrate into the global financial system in a significant fashion, evaluating companies that enable cryptocurrency transactions makes sense. Companies at the vanguard of facilitating global cryptocurrency transactions such as Virtual Crypto Technologies Inc. (OTCQB: VRCP) (VRCP Profile), PayPal Holdings, Inc. (NASDAQ: PYPL), Square, Inc. (NYSE: SQ), Broadridge Financial Solutions, Inc. (NYSE: BR) and Green Dot Corporation (NYSE: GDOT) will not only accelerate universal adoption but also have the potential to emerge among the biggest winners in the entire crypto universe.
The Internet of Money
Imagining the potential of cryptocurrencies is like trying to imagine the potential of the internet in 1992. In less than 20 years, the internet transformed interactions around the world and has permanently impacted lives. Reflecting the envisioned potential of cryptocurrency, the fintech creation has been christened “the internet of money” by Andreas Antonopoulos, a world-leading bitcoin and blockchain expert. He and many others believe that the decentralized technology of cryptocurrency has potential far exceeding the label of digital currency and will contribute to solving global social, political and economic problems.
Of four key factors Antonopoulos identified that need development, fair and functional ATMs are among the most important to nurture industry growth. ATMs with reasonable fees are required for cash and instant transactions, but many users currently find when they arrive at an ATM that it’s simply not working or that the premiums are incredibly high, he argued in a March discussion of bitcoin’s development (http://nnw.fm/p1lRL).
Barrier Breakthrough
Using proprietary, algorithmic technology to audit bitcoin and its crypto equivalent transactions in real-time, Virtual Crypto Technologies Inc. (OTCQB: VRCP) looks to become an integral player in the global crypto revolution. Breaking down barriers of crypto complexity, Virtual Crypto’s exclusive technological conduit between the three primary pillars of the cryptocurrency ecosystem — exchanges, wallets and payments — allows global access to instant cash exchanges for people, businesses and even machines. The global cryptocurrency ATM market is expected to reach nearly $300 million by 2025, with a CAGR of 45.8 percent, yet only 30 percent of the machines now allow two-way trades.
No less than U.S. Comptroller of the Currency Joseph Otting has stated that cryptocurrency has the potential to go mainstream (http://nnw.fm/XxI9H). To achieve such import, the cryptocurrency market must grow, simplify, then become ubiquitous, much as the internet did. Spendability is a critical feature cryptocurrency must have for industry development; it must attain the ability to access and spend virtual money at merchants and retailers as quickly and easily as regular cash. There must also be a system to manage payments with the inherent ability to handle different payment options, both fiat and cryptocurrencies. Without overcoming these barriers, widespread acceptance is likely to implode.
Resolving the logjam of crypto transactions, which can take from 10 minutes to 24 hours, Virtual Crypto’s transformative trading platform, NetoBit, instantly confirms the purchase or sale of bitcoin and its crypto equivalents. All trades and exchanges are insured up to $3,000 per trade.
Differentiated from Competition
Until now crypto payment methods have relied on banking cards and crypto wallet technology. Using cards creates more problems than it solves, however. In almost every case, a specific token is created to bridge between crypto and fiat. But this creates a huge problem: every financial entity within the transaction chain, whether consumers, merchants, retailers or even countries, needs to agree upon and accept a certain token. Beyond the challenges such requisite unanimity entails, the system places power and control in the hands of the token creator, which is antithetical to the underlying premise of cryptocurrency.
Virtual Crypto has created a disruptive market gateway — not a transactional token — that reinforces the decentralization and expansion of cryptocurrencies. Virtual Crypto’s NetoBit market gateway eliminates the standard moribund hardware environment of requiring a credit/debit card to be present. NetoBit Pay allows crypto payments to take place without a card, making funds broadly accessible worldwide even to businesses that don’t have credit clearing.
Crypto wallet payments require customers to download and open a specific crypto wallet to pay a business. The business must then wrestle with the fiat-crypto exchange. If the business wants real-time exchange rates from crypto to fiat currency, it must immediately sell the crypto on an open exchange subject to market risks and fluctuations.
With Virtual Crypto’s NetoBit, cryptocurrency holders get instant confirmation of bitcoin and its crypto equivalents at the best crypto exchange rate at the point of transaction, facilitating a quantum leap in the quest to bring cryptocurrencies to the mass market. Virtual Crypto’s cryptocurrency ATM, embedded with currency exchange transaction validation (CETV) in its hardware and software, accepts and dispenses cash and cryptocurrency in seconds.
NetoBit ATM over-the-counter, two-way transaction solution is uniquely available through one app, providing online cryptocurrency transactions at ecommerce and gaming portals. The app provides easy buying and selling of bitcoin with cash, enables traders to buy and trade crypto, and allows gamers to transfer cryptocurrency into cash after play. Crypto users can withdraw funds from their crypto accounts through a NetoBit cryptocurrency ATM or software-enabled tablet, and consumers can purchase retail with crypto from businesses that offer and use the NetoBit software.
Virtual Crypto’s NetoBit solution delivers maximum flexibility. Antiquated technology such as Bitpay Checkout and its product Bitpay Card are more like prepaid cards, where a customer is limited to the amount of money preloaded in the specific wallet. The NetoBit solution provides a way for consumers to pay from any wallet at any business using NetoBit and empowers businesses to receive payments at the best possible exchange rate.
Payment Processing on Steroids
Companies that facilitate global fiat payment processing command enormous market valuations. Most in the sector have billions in market capitalization, and future payment processing values may be astronomical. A quick look at just a few fiat processors shows market caps that range from $3.7 billion to $96 billion. Virtual Crypto has developed what may become an industry standard crypto processing solution yet trades at a market cap of just over $11 million. It seems that somewhere between that $11 million and the fiat sector’s $96 billion could be an opportunity on steroids.
With a market capitalization over $96 billion, PayPal Holdings, Inc. (NASDAQ: PYPL) enables digital and mobile payments on behalf of consumers and merchants worldwide. It also offers gateway services that enable merchants to accept payments online with credit or debit cards. The company’s platform allows consumers to shop by sending payments, withdraw funds to their bank accounts and hold balances in their PayPal accounts in various currencies.
Square, Inc. (NYSE: SQ) has a market valuation of more than $22 billion from providing payment and point-of-sale solutions throughout the world. The company’s commerce ecosystem includes point-of-sale software and hardware that enables sellers to turn mobile and computing devices into payment and point-of-sale solutions. The company provides hardware as well as Square POS software, which provides access to the financial system and allows customers to electronically send, store and spend money.
With market capitalization of nearly $14 billion, Broadridge Financial Solutions, Inc. (NYSE: BR) is a leading provider of investor communications and technology-driven solutions to banks, broker-dealers, mutual funds and corporate issuers globally. Broadridge’s processing and managed services solutions help clients reduce their capital investments in operations infrastructure, allowing them to increase their focus on core business activities. Its Global Technology and Operations segment offers computerized real-time transaction processing services.
With a market value of $3.7 billion, Green Dot Corporation (NYSE: GDOT) engages in the provision of prepaid cards, debit cards, checking accounts, secured credit cards, payroll debit cards, consumer cash processing services, wage disbursements and tax refund processing services. It operates through Account Services and the Processing and Settlement Services segments. The Account Services segment offers deposit account programs that can be acquired through omni-channel distribution platform. The Processing and Settlement Services segment comprises products and services that all specialize in facilitating the movement of funds on behalf of consumers and businesses.
Crypto payment processors have the potential to emerge among the biggest winners in the entire crypto ecosystem despite apocalyptic “bubble” concerns, thanks to the wide-open potential of a cryptocurrency market that mirrors the promise the internet showed during its nascient era.
For more information on Virtual Crypto Technologies, please visit Virtual Crypto Technologies (OTCQB: VRCP).
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
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