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Bitcoin Purchase with Credit/Debit Cards on Abra

Abra, the multicoin cryptocurrency wallet platform has launched a new feature that allows users to purchase Bitcoin using their credit/debit cards. The company announced the move in a blog post on Thursday (July 12, 2018). Abra CEO, Bill Barhydt believes that BTC can reach $50,000.

Seamless Bitcoin Purchase

With the newly launched feature, Abra users now have an additional method of buying BTC. Abra inked a partnership deal with Simplex to provide the service. Before the launch, only users in the United States could use their credit/debit cards to purchase Bitcoin on the platform, via American Express.

By introducing this new feature, the platform aims to simplify the BTC purchase process, ensuring a seamless user experience. According to the company using a VISA or MasterCard to buy Bitcoin offers numerous advantages over other purchase options. The benefits range from faster processing time to enhanced availability.

BTC purchase on Abra via credit/debit card has a minimum and maximum limit of $50 and $20,000 respectively. The coins purchased can be kept on the platform or transferred to another wallet service.

The credit/debit card purchase feature is available to Abra users in more than 75 countries around the world. The coins purchased can be available in less than half an hour depending on the blockchain traffic at the time.

Abra CEO Predicts Bitcoin Price to Reach $50,000

In a related development, Bill Barhydt recently predicted that Bitcoin would one day reach the $50,000 milestone. Barhydt, however, didn’t provide any timeline for when BTC would achieve this high. The Abra chief also downplayed the bull rally of late 2017 saying that crypto enthusiasts “got way ahead of themselves.”

Barhydt didn’t provide any analysis to back his prediction. Macroeconomist, Peter Tchir believes that most BTC price predictions are made with specific motives in mind on behalf of the analyst. Writing recently for Forbes, Tchir encouraged traders to disregard predictions that didn’t have any empirical analysis to back the proclamation.

Presently, Bitcoin is in the midst of a sustained bear dip that has seen prices plummet by more than 60 percent since the start of 2018. BTC permabulls will be hoping for another price surge that can catapult the top-ranked crypto to a new all-time high.

What do you think about the credit/debit card BTC purchase feature on the Abra platform? What are your thoughts concerning the Abra CEO’s BTC prediction of $50,000? Keep the conversation going in the comment section below.

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Monaco (MCO) Buys Crypto.Com Domain For Millions

Monaco and Crypto.com – The Monaco cryptocurrency-based project, focused on providing innovative financial services, has just bought out the Crypto.com domain from Matt Blaze.

Blaze, a well-known professor of computer and information technology sciences at the University of Pennsylvania bought the domain in 1993. At the time he registered the domain due to its relation to his interest in cryptography, hence his position as a director of the Tor Project. 

But as the cryptocurrency industry rapidly expanded, with users often abbreviating this new asset class to “crypto”, Blaze’s domain has received widespread interest from a variety of crypto companies.

Experts in website domain sales told The Verge that Crypto.com could be worth upwards of $10 million, bringing Blaze’s small investment (in 1993) to a value that is out of this world. 

But many companies were willing to pay ludicrous amounts of money for the domain, giving offers to the professor en-masse. However, Blaze never accepted any of the offers, potentially due to his apparent distaste towards cryptocurrency.

The professor’s personal website mentions his opinion on cryptocurrencies, stating:

Many cryptocurrencies are scams, and I strongly advise against their use as investment vehicles.

But alas, he has finally sold the domain to Monaco, with the deal being kept confidential. It is unclear why he had a change of heart, but some have speculated that he saw legitimacy and promise in the Monaco project, leaving the domain in good hands.

Kris Marszalek, the CEO of Monaco, gave some insight about the deal to TechCrunch, saying:

If it was only about money he’d (Matt Blaze) have sold it a long time ago.

Marszalek later gave a comment regarding Monaco’s role as Crypto.com domain owner, noting:

This is a very powerful identity that we are taking on. It’s representative of the entire category so it comes with a huge responsibility on us to carry the torch. We don’t take it lightly and this is one of the things that I think we conveyed successfully, that, as a company, we do have a higher purpose.

Monaco’s Expansion Plans: Crypto Debit Card

Some have begun to believe that Monaco is a great fit to “carry the torch” that is Crypto.com. The project has been putting the pedal to the metal, recently introducing the first batch of operational debit cards.

So far, these have worked, with videos appearing online showing legitimate purchases made with the cards. Although the first batch was successful, Monaco doesn’t plan on making the cards publicly available for the new few months. The MCO team reportedly has plans to roll out into the U.S. market as 2018 comes to a close.

Fans of the project have shown up in droves to pre-register for Monaco debit cards, with TechCrunch stating that there is a backlog of over 70,000 users waiting to get their hands on this innovative product.

MCO Doubles In Two Weeks

The recent expansion plans, in the form of function debit cards and the Crypto.com acquisition, have proved to be a great catalyst for the price of the Monaco cryptocurrency (MCO). In the past two weeks alone, Monaco has doubled, from the price of $4.5 to $8.9.

Today saw Monaco move up by over 10%, as news of the domain acquisition spreads. Many are hopeful for the future success of this cryptocurrency project, as it releases the public debit cards later this year, hopefully bringing cryptocurrency adoption to new levels.

Title Image Courtesy of Pixnio

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Litecoin (LTC) Confirms TokenPay Partnership On Acquiring German Bank, Debit Card

The discussion that ensued between the CEO of TokenPay and that of Litecoin on the acquisition of a Bank in Germany and producing LTC debit card, which later ended in a tet-a-tet between the two CEOs has actually been confirmed to be true.

During the unveiling of Verge’s secrete partnership, Litecoin CEO, Charlee Lie disparaged Verge for saying it will coast the cryptocurrency market after the partnership. However, he was countered by the CEO of TokenPay, Derek Capo, who questioned Lee for not investing in Verge’s crowdfunding, but complaining of the partnership.

The conversation went on between the two, until they both came to terms to discuss privately on the acquisition of a German bank and production of Litecoin debit card.

“1. If tokenpay did not donate the deal does not happen. 2. tokenpay has a partnership with vergecurrency for our banking solution (we are buying bank in Germany). 3. More partnerships between crypto is important. TokenPay also benefits in helping large community, etc.”

“No problem, so when do you want to talk about a REAL debit card solution (for Litecoin)? We are buying 9.9% of a bank in Munich with option to buy 90%. We have a whole ecosystem and plan in place. Let me know how we can work together. The battle between old and new world is just getting started”

“They key to making this all work is ecosystems, partnerships and constant communication with regulators. Buying a bank in Germany gets us a seat at regulator table, key to educating governments. As for LTC we can add to our bank, debit card, gift cards etc.”

“Thanks. Let me know if there’s anything I or the Litecoin Foundation can do to help,” Charlee replied.

However, TokenPay had previously confirmed the partnership in a tweet, saying a non disclosure agreement has been signed. It did not further state if anything is being discussed on the German Bank.

“TokenPay CEO derekcapo Interview with Sean Davis. THE TPAY ECOSYSTEM EXPLAINED. XVG Deal LTC NDA Signed”

While the agreement may not be clear, Charlee in a message to Finance Magnates, Lee confirmed revealed that Litecoin is “exploring” the idea.

Litecoin is serious about having a debit car. The cryptocoin just partnered with Wirex, and a debit card is about to be unveiled after their partnership. Tenx, also partnered with the cryptocoin on the same development.

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Dragoncard is here: Spend ETH or BTC via a Debit Card

London Block Exchange – startup, is launching a prepaid card which is connected to an app giving the opportunity to users to spend or hold virtual currencies. Until now, the firm has raised around £2 million from private investors.

The London Block Exchange (LBX) launched on Tuesday. It plans to launch a sterling-to-cryptocurrency exchange and a prepaid Visa debit card, dubbed “Dragoncard,” that will allow people to convert bitcoin, ethereum, ripple, litecoin and monero to sterling and spend it across the UK. The startup plans to add more cryptocurrencies in future.

Wavecrest will be the provider of the Visa card which is a Gibraltar-based pre-paid card ‘deliver’. The card is going to be linked with an app that allows people to hold or buy crypto-s through the LBX exchange.

Ben Dives – London Block Echange founder and CEO said:

 “Despite being the financial capital of the world, London is a difficult place for investors to enter and trade in the cryptocurrency market.

“We’ll bring it into the mainstream by removing the barriers to access, and by helping people understand and have confidence in what we believe is the future of money.”

Adam Bryant – Ex-Credit Suisse and UBS banker is now serving as LBX executive chairman. He spent almost 2 decades at Credit Suisse and two years at UBS before stepping in LBX.

A. Bryant added on the matter:

“We’re offering a grown up and robust experience for those who wish to safely and easily understand and invest in digital currencies. We’re confident we’ll transform this market in the UK and will become the leading cryptocurrency and blockchain consultancy for institutional investors and consumers alike.”

Customers will be charged a 0.5% for buying and selling cryptocurrencies on its platform and the Dragoncard has an up-front fee of £20. LBX says card provider Wavecrest will also charge a small fee for ATM withdrawals.

LBX’s launch coincides with an explosion of interest in cryptocurrency in 2017. Bitcoin has rocketed over 500% so far this year and the total cryptocurrency market has ballooned to close to $200 billion thanks to the popularity of “initial coin offerings,” where startups issue digital coins as a way of raising money.

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Bitcoin Debit Cards: bitFlyer to launch a 1,000!

A very convenient solution but could be not the best way to spend Bitcoins and altcoins through virtual currency debit cards. bitFlyer, one of Japans most well-known exchanges, just initiated the process of issuing its cards. Despite many prefer to use the ‘crypto-goods’ pure rather through the payment cards, it is rather interesting and surprising.

Keeping in mind that there are already existing digital currency debit cards which are developed through projects for many years now like CoinsBank, Xapo, Wirex or Initial Coin Offering that want to take stage in the game, bitFlyer stills feels and wants to have a different approach on the matter.

To be more specific, the Japanese cryptocurrency exchange provider is now issuing its own Bitcoin debit card. It will be a Visa-branded card, which can be used in both online and offline fashion as users see fit. Considering that Bitcoin and other cryptocurrencies have obtained legal status in Japan this year, it is only logical we would see more products like these being provided to the masses over the coming months and years.

The fee strategy used by bitFlayer which has been used is very interesting and in-for a change in in the payment-card projects that are similar, Well, to be more specific the lack of fee – as there will be no admission, usage or annual fee. Despite the fact that there are trading platforms that run on a 0% fee system, it is not very straightforward to put the same concept on BTC payment cards as the idea of the third party service that provides the cards makes profit by the fees.

There will be two different types of bitFlyer cards. One is a black prepaid Visa card, whereas the other is a blue prepaid Visa card. There doesn’t appear to be any major difference between the two, other than with the design itself.

A companion app will be developed by Vandle which is referenced by bitFlyer’s page. The developing firm’s name is on every bitcoin card and it will used for activation of users account. Every card will remain valid for five years and have a monthly charging limit of 120,000 yen (US$1,065.72).

Interestingly enough, it appears only 1,000 of these cards will be made available. There will be 500 of each type of card,  and cardholders will seemingly be selected at random through a lottery procedure.

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