Category: Bitcoin Wallet

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Verifone offers Bitcoin payments to thousands of merchants in the United States

Bitcoin payments become more important as asset prices rise. With El Salvador turning cryptocurrencies into legal tender, it is only a matter of time before other countries follow in their footsteps.

Make implementing BTC payments important to businesses looking to stay competitive over the long term. Large outlets have started accepting crypto payments.

The latest is AMC Theaters, which have announced that they will be accepting payments in various cryptocurrencies by the end of the year. This will allow viewers to pay for their tickets and concessions using Bitcoin, Ethereum, Litecoin, and Bitcoin Cash, with Dogecoin currently in the works.

The technology company Verifone is now joining the ranks of institutions that accept BTC payments. Related reading | JPMorgan’s CEO doesn’t care if Bitcoin will grow ten fold in five years Bringing Bitcoin payments to the fore Thanks to a recently signed partnership, Verifone now offers Bitcoin payments to thousands of merchants in the United States.

The company known for manufacturing payment processing technology is now offering its users a new solution. Verifone is one of the largest providers of credit card readers in the world. Building on its already established notoriety, it now enables merchants to use its payment technology to accept payments in cryptocurrencies.

BTC price drops to $ 41,000 | Source: BTCUSD on TradingView.com Verifone has partnered with Bitpay for merchants who want to accept Bitcoin payments. Bitpay will alleviate volatility issues by sending BTC payments via fiat currency directly to merchant accounts.

This means that when a user pays for a good or service with Bitcoin, the corresponding amount of Bitcoin is automatically deposited into the merchant’s bank account.

BitPay is one of the world’s leading crypto payment processors, and with over 30,000 Bitcoin transactions processed per month, it puts you in a prime position to help Verifone bring this service to the public. Buy and pay however you want The ability to spend bitcoins has been an issue for the industry from day one.

Because of this, the digital currency has primarily been demoted to the status of a fixed asset rather than being used as the real world currency. However, its growing popularity with users has resulted in companies starting to consider and accept BTC payments for the goods and services they offer.

Related reading | Over $ 5 billion in Bitcoin and Ethereum moved out of cold wallets amid China’s crackdown Verifone strives to make Bitcoin transactions easier and more transparent.

Verifone CEO Mike Pulli said the company has generated great interest in its latest offering. Explain that the company already has a backlog of merchants interested in implementing BTC payments. “The interest is great, very great.

I think our phones will ring all the time, ”said Sweater. Although the company has yet to reveal which merchants will accept BTC payments, Pulli stated that the partnership was formed with the aim of giving consumers more choice.

“If you decide to buy pizza with Visa or AmEx or crypto, we don’t care. We just want to give them the option to pay as they see fit, ”the CEO said in an interview.

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Yellow Card African Cryptocurrency Exchange Closes $ 15 Million Series A

Africa has become a stronghold for the adoption of cryptocurrencies. Venture capital seeks to capitalize on the growing trend.

The Yellow Card African cryptocurrency exchange has closed a $ 15 million Series A fundraiser led by some of the largest blockchain venture capital funds, highlighting the potential for growth in digital assets on the continent.

The fundraiser, which has been described as the largest ever by an African cryptocurrency exchange, will allow Yellow Card to expand its operations in Africa and attract new talent, the company said on Monday. Series A came about a year after Yellow Card successfully raised $ 1.5 million from various investors.

The investment round was led by Valar Ventures, Third Price and Castle Island Ventures with additional participation from Square, Inc., Blockchain.com Ventures, Coinbase Ventures, Polychain Capital, BlockFi, MoonPay and others.

Yellow Pay was launched in 2018 in Nigeria before expanding its operations across the continent. Currently, its headquarters are in Atlanta, Georgia, although the main focus of the company appears to be the creation of a Pan-African cryptocurrency platform.

Africa continues to be a major source of growth for the cryptocurrency market as locals find new ways to fight inflation, tight exchange rate policies, and capital controls. Peer-to-peer trading platforms like Paxful have seen significant growth in Nigeria after the central bank decided to block remittances in the local naira currency. As Cointelegraph reported, Nigeria’s Quidax cryptocurrency exchange reported more than $ 3.2 billion in lifetime transactions through May, underscoring the rapid adoption of cryptocurrencies in the country.

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Canadian regulators have issued guidelines for crypto companies that warn against “gambling style” advertising and marketing.

“Misleading advertising and inappropriate marketing strategies can encourage investors to take risks that they would normally avoid,” said Louis Morisset, president of CSA.

The Canadian Securities Administrators (CSA) and the Investment Industry Regulatory Organization of Canada (IIROC) have issued guidelines for cryptocurrency trading platforms operating in the country to avoid “publicity material. and marketing that could mislead investors ”.

In a September 23 statement, guidelines from Canadian regulators warn crypto companies not to announce “play style” promotions that require an investor to register within a certain timeframe to enjoy a reward or reward. an opportunity. . Although guidelines on restrictions on social media posts appeared vague, regulators recommended that trading platforms designate a person to review and approve communications and put in place a system to ensure that all posts are made. comply with regulatory guidelines. .

“Misleading advertising and inappropriate marketing strategies can lead investors to take risks that they would normally avoid, and failure to comply with the requirements of securities law and IIROC rules can raise concerns about the relevance of an encrypted negotiation platform for registration ”, declared the president of the CSA, Louis Morisset.

Some of the seemingly egregious examples provided by regulators are exchanges that suggest they are registered under applicable securities laws or approved by regulatory authorities. The CSA and IIROC have encouraged trading platforms to consult with their legal teams before advertising and marketing communications are made public.

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PayPal launches new consumer app for cryptocurrencies, savings and direct deposit

PayPal has announced the launch of a new app designed to be a one-stop-shop for all digital payment needs of customers of the company’s customers.

As Cointelegraph reported, PayPal CEO Dan Schulman announced in July that the company’s super app was ready to launch in the United States.

According to a press release on Tuesday, PayPal’s new app will give users access to all of the company’s digital financial products. The new app covers both encrypted and unencrypted use cases with a wallet tab to manage crypto payments and savings with high returns.

In fact, PayPal’s announcement included a partnership with online banking Synchrony Bank to provide a high-yield savings account through the new app.

As part of the announcement, the digital payments giant said customers could earn an annual return of up to 0.40% on their savings with the new app as part of the announcement.

Customers can also transfer earnings from their savings account to PayPal balance to use when shopping online. Other features mentioned are bill payments, refunds and discounts, as well as direct deposits. The latest feature will reportedly allow customers to receive payments two days earlier.

Related: PayPal Users Can Withdraw Cryptocurrencies to External Wallets PayPal also announced plans to add more features to the app in the coming months, including offline QR code payments and investment opportunities.

In August, Cointelegraph reported that PayPal was considering a foray into retail.

The announcement of the new client app comes just days after the company launched crypto trading for users in the UK.

Schulman has already argued that digital payments will be even more so, stating in December 2020 that the time is right for widespread adoption of cryptocurrencies.

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Over 1,000,000 Salvadoran Citizens Are Now Using Bitcoin Within Days After Making Legal BTC Offers

Bitcoin (BTC) is being adopted en masse in El Salvador just days after the Central American nation made the standard legal tender for cryptocurrencies.

President Nayib Bukele told 2.9 million of his Twitter followers that 1.1 million Salvadorans are already using Chivo, the country’s official Bitcoin wallet operated by BitGo.

“1.1 million Salvadorans are already using the Chivo wallet (and we still have to activate 65% of the phone models). It seems that we can deposit more people in a month than we can nationalize and privatize traditional banks in 40 years. Bitcoin ” El Salvador made history after becoming the first country to officially introduce Bitcoin on September 7. The country has promised its citizens $ 30 BTC, as well as the optional use of the Chivo wallet.

Chivo’s registration was recently discontinued and the wallet had to go offline outside of peak hours to fix technical issues. Now Bukele says that the app is fully functional. “1. The application is already working 100% 2.

Now also available for download on all Blu, Xiaomi, Motorola, TCL and ZTE models. Bukele adds that he sees “strong demand” for Chivo’s portfolio. “There has never been such a massive digitization project in El Salvador. I even believe that I have never had a national digitization project. Every hour we have twice as many new users as the participants against the march.