- Value of cryptocurrencies issued continues to increase at exponential rate
- Market opportunity to bridge exchanges, payments and wallets
- Virtual Crypto’s NetoBit ATM platform increases liquidity of alt-coins
The funny thing about liquidity is that you never need it until it’s gone. With cash in the bank, the world looks rosy, but not spending or investing appears as if you’re passing up opportunity. Indeed, one of the greatest economists and investors of the last century railed against the concept of liquidity, saying “an excessive liquidity-preference was the outstanding evil, the prime impediment to the growth of wealth, in the ancient and medieval worlds.” However, it’s hard to agree with Lord Keynes in a world where cash is king. This is why, with the advent of cryptocurrencies, Virtual Crypto Technologies Inc. (OTCQB: VRCP) is now offering a Bitcoin ATM.
Virtual Crypto Technologies Inc., through wholly owned Israeli subsidiary Virtual Crypto Technologies Ltd., dedicated to the mission of making cryptocurrencies accessible to the public, has developed a platform that is connected to crypto exchanges, allowing cryptocurrencies to be bought and sold with fiat currencies. By linking to numerous exchanges, Virtual Crypto’s NetoBit ATM platform increases bitcoin liquidity. With increased access to buyers and sellers, getting in and out of bitcoin has never been easier.
In March 2017, cryptocurrencies were very close to achieving the important milestone of $25 billion in total market capitalization. A year later, that figure had rocketed to $450 billion, achieving an astonishing growth rate of 1,700 percent in just a year. This trajectory is likely to continue for some time, since bitcoin and other alt-currencies serve not only as money but as investable assets. The increase in cryptocurrency trading has already spurred the establishment of exchanges, such as Coinbase, Bitstamp and Kraken.
These exchanges naturally increase liquidity. However, they are designed to accommodate more formal activity such as trading that typically requires the opening of an account and the submission of personal data. Yet, not all owners of alt-coins hold them for purposes of investment or speculation; many hold for transactional purposes. Like cash, alt-coins offer anonymity, but, unlike cash, they can be transmitted over the internet. Moreover, many current exchange services require extended periods of time, up to 24 hours in some instances, before transactions can be finalized or confirmed. Nevertheless, by using Virtual Crypto Technologies’ proprietary algorithmic technology trading platform, a purchase or sale can be instantaneously confirmed. The NetoBit ATM gets it done as fast as any regular ATM.
The NetoBit ATM is bi-directional, allowing the exchange of bitcoin for regular currency through both purchase and sale. It is also the world’s first and only ATM that allows real time conversion, purchase and sale of bitcoin. The NetoBit ATM incorporates hardware and software with embedded currency exchange transaction validation (CETV), which provides rapid confirmation of transactions, allowing customers to withdraw cash and transfer funds to and from their crypto accounts in seconds. Users also receive attractive exchange rates, since the system has links to several cryptocurrency exchanges. As such, the platform provides a hub that links the three main areas of the cryptocurrency universe: exchanges, payments and wallets. The ATM, which already supports most common currencies, is now available for purchase globally.
It is complemented by NetoBit Pay, a retail point-of-sale solution that allows merchants to receive payments in cryptocurrencies, immediately and securely. Launched in April 2018, NetoBit Pay enables businesses worldwide to securely receive crypto payments in real time, while enjoying protection against exchange rate volatility and guaranteeing transactions up to a value of $3,000 per trade.
Virtual Crypto Technologies has also developed a multi-cryptocurrency trading platform. Using it, cash for cryptocurrency exchanges can be executed much faster. The platform provides a gateway that works simultaneously with several crypto exchanges at once for every transaction. This interaction with several exchanges allows for better exchange rates for crypto-fiat transactions and, once again, improves liquidity. For, as former Chairman of the Federal Reserve System Paul Volcker once remarked, “Remember, there is no such thing as too much liquidity.”
For more information, visit the company’s website at www.Virtual-Crypto.com
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