OpenBazaar Now Accepts Bitcoin Cash

Decentralized marketplace OpenBazaar added support for Bitcoin Cash Zcash (Beta) payments
08 February 2018   725

OpenBazaar is a free online marketplace and a peer to peer application that doesn’t require middlemen, has no fees and no restrictions.

The platform announced on Wednesday that it had integrated Bitcoin Cash, the cryptocurrency that forked from the main Bitcoin blockchain last year. It has also added a beta release for Zcash support.

Both currencies are added as part of the project's version-2.1 release.

With this update, users will have the option to create new nodes for processing Bitcoin Cash and Zcash (Beta) payments, respectively.

It is worth noting that the startup has raised more than $4 million to date. The investments are coming from Andreessen Horowitz and Union Square Ventures as well as industry investors like Digital Currency Group and Berlin-based BlueYard.

According to the release, more currencies and multiple currency support are on its roadmap for future releases.

Bankex to launch Custody Service with No Minimum Deposit

Decentralized ‘Bank-as-a-Service’ platform Bankex has reported about the launch of a custodial service for digital assets, no minimum deposit is required
20 June 2018   101

The funds kept in the service are fully covered against natural damage, virtual threats, and human mistakes. Deposits of four cryptocurrencies (Bitcoin, Bitcoin Cash, Ethereum, Litecoin) are accepted. Exchanging for storage, Bankex is to charge a commission of no more than 0.02% of the total volume of cryptocurrencies held. Fees can be paid with their corresponding cryptocurrency. It is also planned to eventually accept BKX, Bankex’s native token.

For making Crypto Custody more user-friendly, Bankex is aimed to implement client  service suggestions with a “human presence.” More specifically, users who are beginners in the crypto space will have access to concierge-style services to acclimate them to basic crypto protocols, but not without paying a percentage-based fee.

The service is set to operate resemble to the way that an offline safety-deposit box works: an agreement between the customer and Custody is made, the currency is deposited, and the user gains a commercially and legally viable depository receipt. Earlier this week, Fundstrat’s Tom Lee claimed Bloomberg that he hopes that a lack of appropriate institutional tools, like custodial services, is holding the cryptocurrency industry back.

While Bankex’s Crypto Custody definitely isn’t the only custodial tool out there, its lack of a minimum deposit might lower the barrier of entry. Smaller companies in turn with limited crypto capital or larger firms who may only store small holdings of cryptocurrency may finally have a service that suits their needs.