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Bitcoin Cash

Cryptocurrency strengthens its roots in mainstream payments with Bitcoin Cash [BCH]

Aman Swami

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Cryptocurrency strengthens its roots in mainstream payments with Bitcoin Cash [BCH]
Source: PxHere

The number of stores which have started accepting Bitcoin Cash [BCH] and a few other cryptocurrencies has increased in the recent times. Five vendors recently started accepting the digital currency, Bitcoin Cash, including a brand new cafe-bar dedicated to 15 cryptocurrencies.

The first on the list is Coins Crypto Cafebar – it is a new cafe-bar inspired by cryptocurrencies and is gearing up to open in Osaka, Japan. Coins cryptocurrency cafe and bar announced earlier this week that its grand opening is scheduled on May 12th. There will also be pre-opening events prior to that date.

The company described the cafe-bar saying:

“The cafe-bar has 23 seats, giving it a spacious feel, it is a place where many people can talk face to face. We have a large selection of foods and original goods based on 15 kinds of cryptocurrencies, and all of the staff have names of virtual currencies”

In addition to fiat and credit cards, the cafe-bar currently listed the following payment options on its website: Bitcoin [BTC], Bitcoin Cash [BCH], Ethereum [ETH], Monacoin [MONA], Lisk [LSK], NEM [XEM] and Litecoin [LTC].

The second company that has started using cryptocurrency as a mode of payment is Safecast. It is an international, volunteer-centered organization devoted to open citizen science for the environment. On Safecast’s website, there are links to products, such as the Safecast environmental monitoring devices including the bGeigie Nano Geiger Counter Kit and the Safecast air quality monitoring kit, that is hosted on Kithub’s website. Kithub accepts BCH and BTC through Bitpay.

An online clothing company has also joined the list – Undertech sells concealed-carry clothing such as shirts, shorts, jackets, vests, legging, purses, holsters, safes, belly bands, and other concealment items. The company recently integrated Coinbase Commerce as a checkout option on the Undertech Undercover website, allowing customers to pay with BCH, BTC, ETH, and LTC.

Goldsilver is yet another company that allows its users to pay in cryptocurrency. It is a website that sells precious metals, founded by Mike Maloney, a precious metals advisor, and author. The site sells gold bars, gold coins, gold jewelry, silver bars, and silver coins. The company recently started accepting BCH and BTC via Bitpay. The company also provides a 3% discount on purchases done using Bitcoin and Bitcoin Cash.

Goldsilver is not alone, a Japanese jewelry site Rebecca Z, which sells everyday jewelry for working women, is also now accepting BCH and BTC via Bitpay.

The company said:

“We decided to introduce bitcoin payments to simplify payment procedures, this method will allow us to cope with the need to exchange different currencies on e-commerce sites.”

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Aman Swami is an Economics major from Christ University. He is very passionate about cryptocurrency and understanding of financial markets.

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Bitcoin Cash

Bitcoin Cash [BCH] launches Bitek, allows conversion to Pesos

Simran Alphonso

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BitCoin Cash [BCH] launches Bitek, allows conversion to Pesos
Source: Pixabay

Bitek is a new launch by BCH. It is a brand new payment processor of the Bitcoin Cash network. This system allows merchants from Columbia to accept BCH and convert Pesos as and when their need.

Bitek’s business model is considered to be somewhat similar to the Bitpay Service system as it offers BCH based merchant transaction processing, invoicing and accounting services for the convenience of customer management.

Bitek’s Founder, Javier Barrera recently spoke at the Satoshi’s Vision Conference in Tokyo and detailed how his team is integrating BCH into Colombia’s retail market.

Javier Barrera and Andrés Rivera are the Co-founders of Bitek. Their passion for Bitcoin Cash is explained in an interview with the Latin American Publication, Diariobitcoin. The Co-founders stated:

“BCH is a better Bitcoin and it is the asset that best fits with the definition and the philosophical line proposed by Satoshi Nakamoto.”

Barrera and Rivera explain the benefits of Bitek for merchants looking for a BCH payment gateway such as liquidity with a remuneration in Colombian Pesos, protection from cryptocurrency volatility, and accounting. 

According to the article posted on the official website of BCH, they say:

“Bitek plans to launch a marketplace as well that facilitates trades between buyers and sellers and payments made with Bitcoin Cash. Further Bitek has detailed it has been in talks with BCH-based firms such as Centbee and Nchain concerning future collaborations. The startup has also organized BCH meetups on a weekly basis at popular venues like the Revellion Cultu-Bar. Bitcoin Cash supporters seem pleased with another addition to the slew of companies offering BCH infrastructure services.”

Merchants who are interested in using Biteks services have to register and fill out the information on Biteks website for the facilities related to the payment gateway, deposits in BCH, and conversion to Colombian pesos.

On the official twitter handle of BCH they tweeted their Bitek article, caption being:

“BCH Payment Processor Bitek Allows Colombian Merchants to Convert to Pesos…  #bitcoin “

The part where the official Twitter handle of BCH uses “#Bitcoin” while they pretend to be Bitcoin and not Bitcoin Cash is one of the major reasons amateur crypto investors have trust issues.

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Bitcoin Cash

Revolut adds Bitcoin Cash [BCH] and Ripple [XRP] to buy/ hold and sell

Prerana Sarkar

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Revolut adds Bitcoin Cash [BCH] and Ripple [XRP] to buy/ hold and sell
Source: Pixnio

On May 24th, the London based digital banking alternative Revolut has added Ripple and Bitcoin Cash to their cryptocurrency feature on the App. This feature allows users to change their fiat currency into cryptocurrency, to increase their investments with instant transfers of Ethereum, Bitcoin, Litecoin, and now introducing into the digital currency list Ripple and Bitcoin Cash.

Vlad Yatsenko, the chief technology officer at Revolut commented saying:

“We’ve been asking the Revolut community which cryptocurrencies they would like to see next and the demand for both XRP and Bitcoin Cash has been absolutely overwhelming.”

Cryptocurrencies are on its way to become the mainstream topic for future banking with its increasing customer demands. About 20 percent of Revolut customers have tested the cryptocurrency feature, so far. The company trades more than 100,000 Bitcoin, Litecoin, and Ethereum.

The app is expected to definitely boost up its users with its new introduction to XRP and BCH as trending digital asset tokens. So, by adding more digital tokens FinTech companies like Revolut will reach out to others who are still reluctant towards accepting crypto-related services and tokens.

Revolut’s Twitter page earlier claimed:

Another Twitter enthusiast said:

Currently, Revolut has partnered with Bitstamp, a Bitcoin exchange in Luxembourg to carry out crypto-transactions with a charge of 1.5 percent added to the total exchange fee cost for buying these coins.

Brian Jamieson, the CEO of Centtrip, another FinTech company specializing in online payments says:

“We are seeing a reluctance from the banks and card schemes to offer services or support to crypto-related companies. We receive requests for accounts from crypto-based companies almost daily that we turn away.”

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