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).
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