ruletheworld

Nov 212017
 

CyberTrust Crypto Trading Banks
CyberTrust is creating new financial products for existing banks and financial institutions, which would allow them to easily buy crypto-assets. The team is starting off with the most common of these – BTC, ETH, and BCH. This is helpful because many institutions are looking to add crypto to their investment portfolios.

The most interesting element of this project is that it plays well within the existing financial system. When financial institutions look at crypto, it seems like a totally new asset class that doesn’t follow any established rules. While that may be alright for individuals, institutions are risk averse. They operate in a regulated environment. CyberTrust bridges that gap between the wild west of crypto and the trillions of dollars sitting on the balance sheets of financial institutions. These bridges are only going to get more important as crypto increases in size as an asset class.

The way CyberTrust solves this problem is it ‘wraps’ the existing crypto assets into a financial instrument that is familiar for the banks and financial institutions. This is important because all such institutions trade assets like equities or ETFs. If the mechanics of trading are the same, i.e. if someone can make the crypto functionally behave as an equity, then for all purposes, from a bank’s point of view, it is just another stock, albeit with slightly different characteristics like higher volatility. This lets the existing financial industry put their money into crypto without having to go through the unfamiliar waters.

What CyberTrust is doing to solve this problem is interesting. To understand the workflow, look at the image below:

CyberTrust Process

  • The first step is to create an SPV – a Special Purpose Vehicle, whose sole purpose is to hold a given crypto. There will be a separate SPV for each crypto – BTC, ETH, and BCH.
  • The second step is to create a Note against this SPV. The CyberTrust team calls it a Global Crypto Note or GCN in short. You can issue a fixed number of GCNs against each SPV. Each GCN is fully backed by the assets of the SPV, which would be just the corresponding crypto holdings.
  • In the third step, the GCN created above gets an ISIN. Once you have an ISIN you’ve basically gotten a foothold into the existing financial industry. Anything with an ISIN is just a familiar package – like a stock. Trading it is trading in just another name for the traders and portfolio managers.
  • In the fourth step, you need a way to house these GCNs and a place to clear and settle them. This is where the existing infrastructure comes into play – clearing houses like Clearstream provide this service on thousands of ISINs already – add in a new one and it’s no big deal for them.
  • Finally, everything is audited by an auditing firm, which makes sure that all the assets are in place and there’s no accounting issues going on with the SPVs and GCN issuance.

And viola! All of a sudden, you’ve created an ISIN for an underlying crypto. That’s it really – anyone can trade an ISIN, and therefore anyone can trade the underlying crypto.

The CABS Token for CyberTrust

The native token, CABS, allows investors to bet on the spread between spot prices and price of the GCN, so they act as arbitrageurs in a way and make money from that arbitrage. The token is used for the securitization process as well. Therefore, if you want to securitize 1 BTC, it will need 1 CABS token. This is what gives value to the token as well.

Note that once the above platform is ready, there is no need to restrict it to certain crypto-assets. There are no such limitations really – as long it is profitable to create a new SPV with its own crypto, it can be done right away. This provides growth and expansion opportunities, as the crypto market itself expands over time.

Another interesting aspect of the token sale for CABS is that there is a reserve which acts as a price support for if the token price falls drastically. We know crypto can be turbulent, and this is just opportunistic buyback by the company. This is value accretive to the token-holders if they don’t sell during the price turmoil.

The team has the buyback price at 0.2 ETH or $50, whichever is lower. This means if the price of the token falls below this value, the team will use the reserve to buyback and burn the tokens. There is a reserve for this purpose. If you’re a long-term token holder, this is a great thing because when the price eventually rallies, you’ll retain a higher share of the network than before.

Check out the website here. If you want to invest in the ICO, don’t forget to read the whitepaper first.

Photo Credit: David Ohmer

Nov 202017
 

Arcona

Before we discuss Arcona, let’s take a look at the Tweet below:

Sure, there are a lot of assumptions underneath that, but it’s a fair possibility. Augmented Reality (AR) opens up worlds that never existed in the “real world”. That makes it infinitely more scalable than the ‘real world’. That doesn’t mean the AR worlds aren’t real – they are just different, and unlike anything we’ve seen in the past. The technology isn’t there yet, but it isn’t more than 3-5 years away from a significant portion of the population using AR in everyday life. The types of applications that can be built using AR is unfathomable today.

It is a fools errand to predict the direction of technology, especially something so nascent and potentially revolutionary as AR. However, we know there is a fair chance it will be game changing. As AR becomes ubiquitous, companies will compete to built products and ensure property rights in the AR world. Unlike Virtual Reality (VR), AR is still tied to the real, physical world. There’s scope of creating AR layers on top of popular destinations to attract customers, giving a ready availability of users.

This is great for AR property rights. And what better way to record property rights than on the blockchain, given its ability to trivially store the provenance history of the digital item. And that’s the market Arcona is launching – property markets, not in the ‘real world’ but the Augmented Reality World. It is a powerful pitch, and one that has the ability to redefine what ownership and property rights mean in the emerging Brave New World of AR-enabled Technopia.

The Arcon Token

Arcona Ecosystem

Arcona is using a blockchain-based token, called the Arcon Token built as an ERC20 token on Ethereum. The Arcon Token is the currency of this Digital World, i.e. the marketplace built on the Arcona Platform functions with the Arcon Token as the currency.

What can you do with the Arcon Token? Well, anything you can do with real property in the real world, you can do with virtual property in the AR world by Arcona, with the difference that paying for these services happens in the Arcon Token instead of local currencies like USD or GBP or CNY.

The marketplace allows you to create virtual property and sell it to people. You can rent your creations out. The value comes from people wanting to buy or rent your creations, which is all too common for anyone who’s made an in-app purchase for a digital good in a game today.

This allows you to create whole new virtual cities, with their own virtual economies. But don’t be fooled – these virtual economies are as real as the ‘real world’ economy that you live in right now. Virtual goods purchases are already several billion dollars of market, and with the advent of game-changing technologies like AR, this is only expected to increase exponentially.

If nothing, these sorts of ideas are a fascinating experiment to run, to see how economic activity can evolve in ‘new’ cities from scratch, knowing what we know today about the history of the world and the evolution of economics and business. Hopefully, readers will take away some crypto lessons to create this new economy.

Token Sale

The team is pretty solid as well, as an established Russian Startup already, working in the AR field for over 4 years. The technology roadmap calls for the creation of up to 1500 square kilometers of the largest cities in the world converted into the digital realm on the Arcona platform, which would already attract a lot of interest and attention from people around the world, and presumably a rush to buy this scarce digital land in the process.

The team plans to launch a token sale very soon. The launch is on 27th of November, 2017 with the pre-sale. Check out their whitepaper first before making any investments into the project.

Nov 192017
 

BankEx is one of the more ambitious crypto projects in the capital markets space. The team aims to solve a well known problem for banks. In the process though, they are building a protocol that goes much beyond the original use case. The protocol can be used by anyone who wants to tokenize an asset, in a nutshell. It is called “Proof of Assets”, or PoA.

The first step of the process involves tokenizing financial assets, with likely other assets added in the future. The financial assets can be anything, and most likely not related to crypto. The reason this would appeal to banks and financial institutions is because it helps solve problems of balance sheet illiquidity for these entities. As crypto has shown, tokenization is one way to immediately help with liquidity.

BankEx plays in a number different emerging parts of the broader fintech ecosystem. The first thing to consider for the project is the use of Banking as a Service, in a similar vein as SaaS, called BaaS. Decentralized BaaS is today possible with the help of blockchain technology broadly, and several startups are working on related ideas already. In a globally connected economy, this is bound to happen, since blockchains bypass geographic boundaries with ease.

At its core then, the BankEx project helps provide banks with liquidity for their assets, with the help of a globally connected ecosystem using the latest of fintech and blockchain technologies. The team is building this solution on the Ethereum public blockchain, which lets the team build out a suite of smart contracts that can be audited by all the market participants, along with launching a token to drive the network.

This is how the BankEx network is supposed to work –

bankex-ecosystem

The biggest value proposition of using BankEx would be that the ‘Asset’ as visualized above becomes a ‘Smart Asset’ after going through the BankEx process. The importance of liquidity is likely familiar to many in the crypto space, which is well known to be a very liquid space. However, the same cannot be said of many of the existing financial and non-financial assets that sit on the books of large banks and financial institutions like insurance companies.

By converting an Asset into a Smart Asset, the biggest gain is in terms of liquidity in the markets. Also, because Ethereum, crypto, and blockchain are all pretty global, this means all of a sudden you’ve opened up the asset to a huge swath of global investors that was not possible before when it was just an asset sitting on the books.

High liquidity also naturally implies a lower transaction cost. Think about how much easier it would be to float an asset via tokenization, and let a global investor pool buy it up, instead of trying to find a buyer by yourself for something illiquid, try to determine a price that works for both of you, and complete the transaction. The fee to do this quite high, and the market can be quite inefficient since many potential buyers may be interested in owning only a part of the asset instead of the whole asset. These benefits are then realized via the tokenization route.

Check out the website here. If you plan to invest in the token sale, read the whitepaper before putting any money.

Nov 172017
 

This is a sponsored press release

The mobile money remittance system (MMRS) by Bank4YOU Group (https://www.bank4you.io) has closed its early supporter presale having raised two million dollars through its BFY token sale. MMRS is the first convergence of cryptocurrencies with mobile network operator’s accounts.

Following the presale, the Group’s CEO David Agar and CCO Sin Chee Saw presented a demo version of Bank4YOU app with MMRS at the recent international fintech conference Finovate Asia 2017 in Hong Kong. The ICO campaign was welcomed by the regional community who found the future development of the project inspirational.

The implementation of MMRS functionality into the Bank4YOU app will provide each user with an account where tokens can be stored in different local currencies as well as in the BFY token. Users will be able to use available tokens for money remittances, to exchange them for other tokens and local currencies through an agent network, or use as payment for goods and services. Created especially for those keen on long-term profit from system activities, the BFY ICO token, presented on the Ethereum platform, will allow profit on transactions and also through other financial operations in the system.

The Group is now focused on developing its MMRS project, which is expected to roll out in Q3 2018. The team is working hard on creation of a mobile network operator consortium, which will provide the digital infrastructure for implementation of MMRS. This would allow token purchasers the opportunity to use the system by next year-end. The BFY tokens can be purchased at a fixed price of $0.21 each. There is, however, a discount of 15% available in the first round, which is currently taking place. You can join the campaign by signing in at the Investor’s Cabinet.

Nov 172017
 

With the technology development, an increasing scope of human activity becomes automated, and an increasing number of processes are transferred to a virtual basis. On the one hand, progress may look like a threat to the workplaces of specialists, but there is a back side which opens up new horizons for them. The greater the desire of society to increase turnover, the greater the need for machine-based performance of activities. In this case, the role of a person does not decrease, but simply changes. Cardinally.

While the Internet has already penetrated all spheres of our life, the blockchain technology is gradually picking up the slack. In addition to the obvious interest of people in everything new, the idea of decentralization and transparency covers a wide range of tasks in the economy, finance and related fields. Smart contracts can change the market of legal services. Automation can deprive notaries, registrars, secretaries, drivers, realtors of work, as well as other professionals whose activities are related to mediation. Imagine, you act as guarantor of your transaction, its technical support and storage of information about it.

Despite all the advantages of technology, the introduction of smart contacts requires a person who understands the legal subtleties to competently make up the contract terms. Therefore, blockchain will replace the third party systematically, with a speed proportional to the professional development of specialists, adjusted for new technologies. The giant potential of blockchain in existing implementations is still not used to the maximum. For example, the average transaction time is 10 minutes in Bitcoin, and 5 minutes in the Ethereum network, while credit card transactions take seconds. As of 2017, there is no platforms that completely satisfy the needs of users and businesses.

This is the main problem, which prevents a wide use of blockchain in various branches, financial in particular. And now the team of Credits project is working hard on it. This is a new blockchain generation with technical capabilities of a higher level. The project, in addition to concentrating on the financial industry, offers simultaneous processing of up to 1 million transactions per second, an average operation time of 3 seconds, data compression to 90%, transaction cost of about 0.01%.

Reduced processing time is provided by the transfer of transactions to the main node where they are processed and recorded in the ledger. Each node can be a master or trusted no more than once. To increase data security and other performance indicators, the CREDITS platform uses its own combined consensus protocol, as well as an algorithm of the last stored ledger search, different from the tree-like. The working prototype is already completed which confirms the serious intentions of the project team to make a worthy product for the financial market. Find out more at https://credits.com/.

The project launches ICO in November 2017. The total number of tokens is one billion. The developing market and the lack of working analogues promises great prospects to our development. More and more countries are showing an interest in legalization of cryptocurrencies. This means that the time is near when financial institutions and regulators will have to seriously reconsider and modify their activities. Large-scale retraining of personnel, new professions and new opportunities await us in the future.

Nov 162017
 

Introducing Hdac

Hdac is a new crypto project, aimed at becoming the leading payment platform for IoT devices, based on blockchain. IoT devices have very different needs than traditional payments conducted by humans. In fact, on this blog, we’ve extensively covered that the future of cryptocurrencies is in machine to machine commerce.

As the blockchain space evolves, it is clear that it isn’t going anywhere. It is only a matter of time that IoT devices adopt some type of a standard and payment protocol based on the blockchain, since it provides so many benefits to the IoT ecosystem.

Limitations of Existing Cryptocurrencies

However, using existing cryptocurrencies like Bitcoin or Ether for this purpose poses several challenges –

  • The block times are quite high. Bitcoin creates blocks once every 10 minutes. Ether is an order of magnitude improvement over this, with just 15 second blocks. However, in the real world, even that is too slow, especially when you need transactions to go through very fast.
  • Scalability is an issue. We are well aware of the Bitcoin scaling debate raging on for over 3 years now. Ethereum is relatively newer but is already pushing up against scaling limits of traditional blockchains.
  • Transaction fees make lots of small transactions impractical. Bitcoin fees can reach as high as $10 during peak times or around a few dollars on average for simple transactions. Ether transactions still average around 15 cents – better than Bitcoin but still insufficient, even as fees on both blockchains only rise.
  • Privacy issues on existing platforms like Bitcoin and Ethereum make them hard to use privately. You don’t want your IoT devices giving out intimate secrets about your life to the entire world, so some sort of privacy solution is required.

If you want to build a payment network for IoT devices, it is essential to be able to make fast, cheap transactions of value. This is because the IoT universe is vastly bigger than payment by humans. There are around 7 billion people on the planet, while the IoT devices are expected to be over 38 billion by 2020 – far exceeding the number of people. In addition to the number, they will likely do many more transactions than people, since they will follow automated rules that can allow for a much faster throughput.

The Hdac Solution

Hdac aims to address many of the above problems and more, with a solution that is geared specifically for the IoT industry. In fact, the team promises that payment is just the first application, with an ambitious future development combining blockchains with IoT to provide a seamless solution for the industry.

Hdac solves all the above problems, from scalability to privacy, using a clever Hybrid Blockchain solution. This combines the payment and data guarantees of a public blockchain coupled with privacy and scalability of a private blockchain. An added advantage to this Hybrid Blockchain approach is the enhanced security features that the platform is able to provide.

Hdac still allows you to set up complex payment contracts between devices. Think of the scenario where you are in a hurry to go somewhere, so your self-driving car pays the rest of the self-driving cars on the street a small amount so they give way to you and you can reach your destination faster.

Hdac’s Blockchain

Unlike many of the other projects in the space building a token on top of Ethereum, Hdac requires its own blockchain solutions because existing blockchains like Ethereum will not be sufficient to solve the problems that Hdac is trying to solve, as discussed above. Therefore, it can become a high-impact project in the industry with wide ranging potential consequences.

From a blockchain security point of view, Hdac uses an ePoW algorithm to secure its blockchain. This is an energy efficient way to secure a blockchain, without relying on centralizing forces from Proof of Stake (PoS) solutions. This provides the maximum security without burning massive amounts of energy to do so.

Also, Hdac has a public and private blockchain, which interact seamlessly across the different scenarios and use-cases specific to the IoT world. Hdac uses a “Bridge Node” for this purpose, which links the data from the public and private blockchains.

Finally, security is a huge concern for the IoT industry. Blockchains have had their own security challenges. One of the ways Hdac differs from other blockchain infrastructure is by using a Quantum Random Number Generator. As anyone with a background in cryptography knows, Random Number Generator is at the core of creating secure key-pairs and if done incorrectly, your crypto can become insecure. The team also has a hardware wallet in the works. Both of these provide additional security to the network.

Token Sale

Hdac is offering its token in a public token sale. Unlike most other projects at the moment, Hvac is only offering a small portion of the tokens in the sale. The rest are earned by miners. It is unusual in this market to do this, but the Hvac team is dedicated to long-term sustainability of the project. This is why the ePoW miners get most of the tokens in the future.

The token distribution is as follows:

  • 7% of tokens given out in the public token sale.
  • 7% of tokens for capital reserve to be used for spending needs.
  • 86% of tokens to be earned via ePoW mining by miners.

hdac distribution

If you plan to participate in the token sale, you should read the whitepaper before putting any money into it. Also check out the team’s roadmap. The sale starts on 27th of November 2017 with a cap of 6,000 BTC.

 

Nov 152017
 

BABB

BABB is one of the more interesting blockchain projects coming out of the “fintech” (financial technology) space. The project is located in the famous Level39 space in Canary Wharf in London, which is the hub of Europe’s fintech innovation.

So what is BABB? BABB stands for Bank Account Based Blockchain. The project aims to create a banking platform for the peer to peer economy. However, it is more than just another blockchain project. It allows users access to a UK bank account, based on biometrics and AI technologies in addition to blockchain.

Banking Services

Once you have your bank account, BABB has a special product called the “Black Card”. This is linked directly to your BABB bank account. The Black Card lets you spend any cryptocurrency or fiat in any country. All this is done in a peer to peer fashion via blockchain. This isn’t another one of those “crypto debit cards” that have become popular of late. The Black Card works independent of the legacy payment systems, so it isn’t a visa or mastercard. Instead, Retailers can accept payment using the BABB card by simply downloading the BABB app and scanning the QR code or via NFC. Payment is made instantly into the retailer’s bank account.

So why does all this matter? It matters because there are billions of unbanked people today in the world that can only dream of being able to have access to the financial services provided by the banks, especially ones in ‘desirable’ locations like the UK. The project is built for those people who rely on micro-payments for small tasks. These small payments from the first world mean much more to a person living in the third world scraping a living. The goal is to bring those billions into our economy.

Peer-to-Peer

Another aspect of BABB is its peer-to-peer nature. Now if you think every blockchain is essentially peer-to-peer, you’re right. However, BABB goes beyond just that. It has an element of ‘Social KYC’ built into the platform, which allows for faster on-boarding and adoption of the technology. This means no more cumbersome paperwork and proofs for everyone. Instead, you can rely on vouches by your friends that have undergone the process.

This may seem small from a first world point of view where identity is easy to prove. However, it is a boon for the developing world where identity information isn’t as easy to obtain. Someone else vouching on your behalf makes the process much smoother for you.

An added element to this is the creation of network effects in the process. When you have a social vouching system, you create the right network effects and incentives for others to onboard their friends. This building of network effects is crucial when a project aims to start from the ground up and build a network.

End of the day, BABB is one of the more interesting projects coming out in the space. You should check out their website for more information.

Nov 142017
 

This is a guide to sell Bitcoin Cash for Bitcoin. Bitcoin Cash was hard forked from Bitcoin on 1st August 2017. This means anyone who held Bitcoin on this date would be able to access an equal amount of Bitcoin Cash on its own blockchain. This of course assumes that you held your private keys and didn’t leave Bitcoin with third-party custodians like Coinbase or exchanges. If so, then your ability to access Bitcoin Cash is restricted to what this custodian wishes to do. For example, Coinbase users still cannot access their Bitcoin Cash, but Coinbase plans to make it available around early next year in 2018. In the future, if you need to hold your Bitcoin private keys for future forks, you should buy a hardware wallet like Trezor, Ledger Nano S, or KeepKey.

During the subsequent months, its price against Bitcoin has fluctuated wildly, with a peak around 35% of BTC and a trough around 5%. In price terms, BCH/BTC saw a peak around 0.35 and a trough around 0.05.

A lot of Bitcoin holders see Bitcoin Cash as a sort of ‘dividend’ that is paid to them. Therefore, many Bitcoin holders want to sell their Bitcoin Cash for Bitcoin, in order to increase their Bitcoin holdings. If you sold at the peak, you could have increased your Bitcoin holdings by 35%. At the time of this writing, Bitcoin Cash trades around 0.2 BTC, i.e. if you sell all your Bitcoin Cash to Bitcoin, you will get 20% of your Bitcoin holdings. This is a great benefit to long-term Bitcoin holders.

Accessing your Bitcoin Cash

The first step is accessing your Bitcoin Cash in the first place. Depending on how you hold your Bitcoin and in what wallet, there are various options to access it. Here are some common ones:

Bitcoin Private Key

If you have access to your raw Bitcoin private key, then the easiest wallet that I found to use for Bitcoin Cash is Electron Cash. Electron Cash is a clone of the popular Bitcoin desktop wallet Electrum. It is open source and you’re free to audit the code. It allows you to input your private key directly, and lets you access your Bitcoin Cash that you’re entitled to.

Ledger Nano S

If you held your Bitcoin in Ledger Nano S, then you can use the same hardware wallet, Ledger Nano S, to access your Bitcoin Cash. However, note that you need a firmware upgrade to your Nano. This wipes the device out, so be extremely careful! Read the official Ledger guide for more information.

Trezor

Trezor created a handy ‘splitting tool’ that can be used to access your Bitcoin Cash. Just to be safe, make sure to send your Bitcoin Cash to another address inside Trezor, so that there’s no scope of confusing between chains. You just need to go with the splitting tool after connecting your Trezor, and ‘claim’ your BCH. Read the official Trezor guide for more information.

KeepKey

KeepKey has a simple way to claim your Bitcoin Cash. They have a beta version of the KeepKey client that you can use to access your Bitcoin Cash. Read the official KeepKey guide for more information.

Selling Bitcoin Cash for Bitcoin

Now that you have access to your Bitcoin Cash, it is time to sell it for Bitcoin. For this, you need exchanges, or other ways to convert your Bitcoin Cash to Bitcoin. Here are the ways to do it:

ShapeShift

ShapeShift is perhaps the simplest way to convert your Bitcoin Cash to Bitcoin. All you need is a Bitcoin address, and a return Bitcoin Cash address (in case the transaction doesn’t go through for some reason). Then ShapeShift will send you a unique address to send Bitcoin Cash to, and send the Bitcoin to your address. Just like that. You don’t need to create any account, no registration, no order books, nothing. Of course, you will likely pay a higher fee going through ShapeShift but it is a very simple option and definitely very convenient.

Changelly

Changelly is very similar to ShapeShift in that you just select that you want to convert Bitcoin Cash to Bitcoin, and it just does the conversion for you, sending Bitcoin to the address that you specify. They do ask for a basic account via email but nothing too elaborate. There’s no need for order books though, and you get your Bitcoin instantly to your wallet.

Online Exchanges

By now, you probably are a user at several online exchanges. These are proper exchanges in that there is an order book and you can put market orders or limit orders to sell your Bitcoin Cash for Bitcoin. There are several exchanges today that trade the pair BCH/BTC, depending on your accounts.

If you’re not on any crypto exchanges and want to trade BCH/BTC pair, Bittrex is probably the best place to trade. If not, HitBTC and Poloniex are also good options.

 

Nov 122017
 

This is a Sponsored Post

Bitcoin has recently surpassed the value of Goldman Sachs Group Inc. and hovers above $100 billion. However, the wider public is yet to be introduced to Bitcoin and cryptocurrencies.

Even so, on October 2013, Bitcoin ATMs made their debut at the Bitcoiniac`s kiosk in one of Vancouver’s coffee shops. Today, just four years later, there’s more than 8 million Google search results for “Bitcoin ATM near me’’.

But how does a Bitcoin ATM work?

In this guide, we present you with the most important things to know before using a Bitcoin ATM.

There’s more than one type of ATM

There are two varieties of Bitcoin ATMs, depending on the operations they allow for: One-way or two-way transactions.

Around 70% of the ATMs worldwide only support the depositing of fiat money into the wallet and buying bitcoins. These are called vending machines. There’s less legal scrutiny around them, that’s why they’re more popular.

The other 30% are two-way ATMs. They have more KYC/AML requirements like ID or palm scanning. This helps preventing illegal traders (such as weapons’ dealers), cash in on their Bitcoin.

The future will see ATMs that support bank-like features, like providing users with different types of accounts – savings, deposits and payments. However, there is still no company that offers those services

Know the manufacturers

There are three leading producers of Bitcoin ATMs: Genesis Coin (with around 44% market share), followed by General bytes – with almost 26%, and Lamassu, with 16%.

BrandGenesis CoinGeneral BytesLamassu
One-way Price$6 800$2 999$6 000
Two-way Price$14 500/$8 900$6 999$11 000/$5 000
Fee1% of volumeOptionalOptional
Unique featureSupports Litecoin and DogecoinPOS functionalityMore compact

 

Genesis Coin ATMs are pricier, but offer increased functionality. Lamassu position themselves as the cost-efficient choice, and General Bytes as value for money. This holds true for both one-way and two-way ATMs.

The only difference is that Lamassu offers their two-way model as an extension to the one-way model. So, existing clients have to pay only 5000 USD for a two-way ATM, the best price on the market. For new clients looking for a two-way machine, however, General Bytes are more cost-efficient, and offer a good functionality-price ratio.

Genesis Coin is the best choice for those who want increased functionality, as they offer the only ATM that supports three digital currencies.

Lamassu is in a rather weird spot: they market themselves as being the cheapest – however, their price for a two-way machine does not reflect that. Our suggestion: if you already use a one-way Lamassu ATM, upgrading it is a good call. Otherwise, go for the alternatives.

Providers are the key

What matters most for individuals is the Bitcoin ATM provider rather than the manufacturer. Providers determine the location of the machines and the bulk of the transaction fee.

According to CoinATMRadar, buying fees for Bitcoin are 9.67% and, selling costs around 6.23%.

There are 7 Bitcoin providers with more than 50 operating ATMs, and only two with around 100 devices. Yet, their main interest is not market share or sheer number of machines. For them, the game is mostly about location and functionality.

Consider the top four countries in terms of number of Bitcoin ATMs (presented by CoinATMRadar): there are 1000 devices in the US, and 433 in the next three countries (Canada, the UK and Austria). This saturation in the US means that, in this case, market share numbers should always be taken with a grain of salt.

Our suggestions for providers are based on number of locations and new locations added in 2017 as reported by CoinATMRadar.

CoinSource seems to be the leading provider in the US – with 127 ATMs (104 one-way, 23 two-way). In 2017 alone they added 9 new locations, ranking them second in growth. Their buying fee is 8% and their selling fee is 4%.

Although there are many providers, Bitcoin ATMs are clustered in the states of Pennsylvania, California and Illinois. In the states Wyoming, the Dakotas and Montana there are almost no Bitcoin ATMs.

In Canada, there’s less variety. InstaCoin is the main provider of Bitcoin ATMs, with around 55 locations, and ranks 4th in terms of growth, with 7 new locations this year. However, they only have a few buy-sell ATMs and do not support other digital currencies. Unlike most Bitcoin ATM providers, InstaCoin calculates its fees in the same way traditional Forex exchanges do – they quote a selling price and a buying price and the spread in between makes up the fee.

In terms of newly added machines in 2017, the Austrian provider Cointed topped the chart with 11 new locations. This reflects a significant growth of 64.7% and translates to 53 locations.

What’s impressive about them is that they not only provide digital currency ATMs, but also manufacture them, have a digital exchange and offer mining services. This makes them the only full-fletched service provider for obtaining and selling digital currencies.

Having everything under one roof makes Cointed quite competitive compared to other companies in the industry. They are the only major Bitcoin ATM provider that supports 5 different digital currencies – Bitcoin, Litecoin, Ethereum, Zcash and Dash.

Their complementing businesses allow them to have the most competitive rates, ranging from 1% to 3.5%. Compare that to the 4% of the second cheapest provider on this list.

Also, their exchange business allows them to process transactions of all sizes. Other ATM providers can’t handle transactions in the ranges of tens of thousands of dollars or above.

Being both a provider and manufacturer allows Cointed to have better synergy between software and hardware. They also serve as a one-stop customer support as all issues are handled by one company. Other providers must investigate whether any problem is in their software or in the manufacturer’s hardware.

Can I pay for pizza with Bitcoin?

At the moment, probably your local pizza restaurant has not heard of Bitcoin. Yet, the popularity of digital currency is rising and it is getting more widely accepted. Using ATMs is certainly the most user-friendly way to purchase digital currencies. However, it’s still limited. The fees are still rather high and there is not much variety in the digital currencies offered.

By combining complementing businesses like mining, digital exchange, in-house manufacturing as well as other payment solutions, Cointed exploits the benefits of economies of scale and scope.  That’s why they can afford to give their customers the lowest fees (compared to their only ATM provider competitors). Offering many ways to acquire and trade digital currencies is the way to go as it allows for better pricing, a more versatile service and more complete customer support.

A pending issue remains geographic saturation. Even in the US where there are 1108 Bitcoin ATMs, in many states there are none. In Europe and Canada the situation is quite similar.There are two main reasons for this saturation: legislation getting in the way and, mainly, low interest in Bitcoin in general

Nevertheless, more and more countries are making room for Bitcoin and other digital currency to shine. Despite some of the issues Bitcoin ATMs are the quickest most convenient way for buying and selling digital currency.

 

Nov 122017
 

This is a sponsored post

What is Native Video Box?

Native Video Box (NVB) resembles YouTube like cryptocurrencies resembles traditional banks. It is an independent native video platform that uses a native eco approach for advertising.

In the current advertising industry up to 70% of advertisers’ money is being taken by intermediaries without reaching the publisher. Today, with cutting-edge technologies of programmatic advertising, blockchain and tokenization, NVB has a chance to change the game.

Imagine, that for each dollar spent, just twenty-five cents are held by the service to cover the tech costs. And up to 75% goes to video creators and website owners. In short, this means that the people who create the videos and bring it to the audience WIN!

What is the status of the project?

Native Video Box (NVB) was originally launched in Russia in early 2016 as a native video platform for websites with editorial content. We have developed an MVP with all machine learning stuff that has acquired local business traction and now we have been refactoring the project to go global and implement blockchain: just for being totally cutting-edge Adtech service.

We are currently going to launch an ICO in December, 15.

Pre-sale starts on December, 1 and we have lot of exclusive benefits for early birds. Please check out nvb.digital for further news and get in touch – you can get up to a 25% discount!

Why Native Video Box?

Native Video Box (NVB) brings together a dream-team of experienced professionals from the fields of AdTech, community management and blockchain for successful work on the project. The NVB service is literally a turnkey solution for publishers that brings together relevant native video with brand-safe licensed content, that will start to help content creators earn immediately via programmatic video ads.

On the other hand, Native Video Box solves the issue of video bloggers and other video content creators, who have not yet an option to spread their videos outside of their usual video hosting audience and be generously paid for that at the same time. According to our estimates, NVB will be able to offer content creators higher average incomes than YouTube can provide.

Native Video Box brings together the most cutting-edge video ad technologies in an entirely new eco-system, created to benefit publishers and content creators. These values and transparency grants our network fast organic growth and highest inventory quality standards, which magnetically attract the advertisers.

Native Video Box tokens (NVB)

NVB tokens are the currency of the service: all the transactions among system participants are conducted solely in tokens. NVB network is monetizing with in-stream ad loads. To acquire ad impressions, advertiser needs to purchase NVB tokens.

Due to the сryptocurrency nature of NVB tokens, it’s an easy way to make payments for each individual blogger or publisher in variety of countries, solving the problems with financial clearing and regulatory paperwork as well as high payment commissions of fiat banks (for currencies conversions).

Token name: NVB

Target: $15,000,000

Supply: 20,000,000

Project team               8%

Advisors                       4%

Bounty                         3%

Referral program       5%

Token buyers               80%

Ethereum ERC20 token

Payment methods: BTC, ETH, LTC, DASH, ZEC, ETC, USD

Due to the fact that we consider our platform to be promising and extremely interesting, we believe that as many people as possible should learn about it. That’s why on the bounty-program we will allocate 3% of all the tokens sold during the pre-ICO and ICO stages.

Further information:

Visit our official web-site (http://nvb.digital ) for NVB whitepaper (http://nvb.digital/NVB_whitepaper.pdf ) and FAQ (http://nvb.digital/FAQ.pdf ).

For testimonials and exciting news about the project, join us on Facebook (https://www.facebook.com/nativevideobox/) and LinkedIn (https://www.linkedin.com/company/native-video-box/ )