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Coinsbit: the first cryptocurrency exchange in the world, integrated with the 200,000 POS terminals

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Coinsbit: the first cryptocurrency exchange in the world, integrated with the 200,000 POS terminals
Source: Danco Vision

Coinsbit is the first exchange in the history of cryptocurrencies, which has implemented a large integration with 200,000 POS-terminals. Now it provides the possibility to its users to purchase digital coins for Fiat funds with no mediator involved. Tokens will be available for purchase through terminals, in case it is listed both on the exchange and on POS-terminals.

In this regard, Coinsbit will constantly add coins to the exchange and act as a gateway for POS-terminals. In the future, this model will make the exception of Fiat funds during the IEO possible.

200,000 terminals are owned by the startup Cylcebit and distributed worldwide, including South Korea, Vietnam, China, India, and other countries. Cyclebit’s goal is to make each trading terminal capable of accepting cryptocurrency payments. Now the platform processes 1 million transactions per month with an annual turnover of card payments of $1 billion.

Source: Coins Telegram

A word from CEO – Nikolay Udianskiy:

-How did the idea of Coinsbit come to you?

We worked as a development team before and built quite many projects. We gained vast experience in building exchanges for others, so now it is a time for our own exchange!

We decided to build something different to conquer the market. We want to make crypto market accessible for ordinary users and good enough for skilled traders.

-What are the main features of Coinsbit?

We want to integrate completely new features such as lending between users [on the security of crypto] and the integration of POS terminals around the world through the exchange gateway.

We stand out for strongest security: more than 95% of all currency are stored on cold wallets.

Another main distinguishing feature of Coinsbit is support for processing speed of up to 10 000 trades every second and 1 000 000 TCP connections.

-What startups did you run previously?

We were engaged only in the development of IT products.

-What is your intention to give to the crypto community?

Interaction with the fiat world is so necessary for the crypto community worldwide. That’s why we are implementing the POS technology which is linked to Coinsbit.

-How long does it take to build your own crypto exchange?

We had been building the exchange since the beginning of 2017 and finished it in summer 2018.

-What do you think about decentralized crypto exchanges?

Decentralized crypto exchanges are run not by people, but by software, so they allow the participants of the market to trade directly with each other without any trusted third party to process all trades. P2P exchanges offer high resistance to transaction censorship, are cheap to use, private and secure, thus we look very positively and understand that the crypto community really needs them.

-There are so many exchanges already, what makes Coinsbit better than competitors?

We are creating new services that are very necessary now and which have never been used before us: loans, POS. Coinsbit is the first exchange, which provides the possibility to its users to purchase digital coins for fiat funds without any mediator.

-For fun. What is your prognosis on Bitcoin’s price in 2019?

I suppose it will fluctuate from 3300 USD to 4900 USD during this year. Growth will start in 2020 approximately.

-How long will it take to hit Coinmarketcap’s top by Coinsbit?

There are very strict requirements for being on top, we are investing a lot of money in our IT capabilities, we develop infrastructure which can afford to reach this place within such a huge market and meet the needs from sophisticated, high-frequency traders and institutions.

There are so many exchanges with fake volume. What do you think about that and how to solve this problem?

I don`t think about it. This doesn`t affect the crypto community as a whole. This is just innocuous marketing.



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Guest Post

Legislation of Casinos: Places that are taking steps towards complete Legalization of Gambling in 2019

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Legislation of Casinos: Places that are taking Steps Towards Complete Legalization of Gambling in 2019
Source: Pixabay

More and more people are seeing any form of gambling as morally acceptable. In a 2009 poll by The Gallup, only 58% of people in the US seem to accept this industry. With an update for 2018, the percentage has raised to 69%.

There could be multiple reasons why people still have different opinions about gambling, whether it’s through the form of playing a casino game online or in any establishment or betting on any sports and games. Opinions could be formed because of a person’s religion, income, and race, and educational attainment.

The legalization of gambling could also affect how people see it. With more and more places all over the world taking steps to legalize any form of gambling in their area, people are becoming more accepting of this industry. In here are some note-worthy updates about the legislation on gambling all over the world.

Regulation of Online Gambling in Ontario, Canada

Any form of gambling was made illegal in Canada half a century ago and it was in 1969 when the provincial and federal government of the country were allowed to host lotteries. Then in 1985, each province was then allowed to legalize any form of gambling that they choose.

With all of those updates on Canadian law regarding gambling, there wasn’t really anything that targets online gambling until recently, when a press release from the Canadian Gambling Association [CGA] was spread.

With this, online gambling laws in Canada seem to be taking its shaped. CGA has noticed how much Canadians, particularly in Ontario, has been wagering on online gambling websites outside the country. More than $500 million are spent by the people of Ontario in gambling each year.

Because of this, CGA and the local government see the need to have their country put in place an online regulated system to allow their citizens to place wagers on any gambling sites safer. For now, the CGA is looking forward to taking part in the government’s planned dialogues with this industry’s stakeholders.

Pennsylvania’s Online Gambling Launch

Pennsylvania will be the fourth state in the US to launch and legalize online casinos. It was previously announced that PA online casino and poker servers should be up in at least the first quarter of 2019.

However, because of the recent DOJ interpretation of the Wire Act of 1961, the PA’s Gaming Control Board decided to delay the launch for a bit.

It is expected that most online casinos in PA will then be launched in mid-2019, where the earliest target date is in mid-June. This was as instructed by the PA’s Gaming Control Board, and they expect online casinos to comply.

For now, if you’re in PA but can’t wait to play online casino games, you can check the top betting sites online. There are some casino sites that can give you insights about the best casinos you can find on the web. This site will also let you know whether an online casino will accept bettors from your place.

Remote Gambling Bill in the Netherlands

Like a lot of European countries, the Netherlands is deemed lax when it comes to their laws about gambling in any form. However, before 2012, when it comes to online gambling, the Dutch community seems to be restricted about playing casinos online.

Back then, the Dutch people are allowed to place their bets online, but this was only through local servers, which at that time was limited. However, even if more and more websites are starting to get based in the Netherlands, there are still Dutch people who’re place their bets on foreign casino websites that go unnoticed.

Because of this, a bill was submitted to allow Netherland’s government to issue licenses to foreign websites and let them legally accept wagers from the Dutch citizens.

On the 19th of February, the Netherland’s senate placed votes on the Remote Gambling Bill, which already passed the Ditch parliament three years ago. The result was much anticipated and is now good news to foreign online casinos.

Sometime next year, the Dutch government will start to issue online gambling licenses to foreign casino websites and end the monopoly of online gambling in the country. Analysts shared that the process of issuing online gambling licenses might start in January 2021.

Next year may only be the start of application requests from foreign and local stakeholders. The only problem that some foreign casinos that may have to face are the “cooling period”. This is a proposal by the Dutch Minister of Legal Protection that would not allow operators who have been accepting bets from the Dutch citizens prior to the legalization for two years.

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