Virtual Crypto Technologies to launch NetoBit ATM

Virtual Crypto is going to demonstrate its bitcoin ATM NetoBit at the TechCrunch Tel Aviv event on June 7
06 June 2018   1277

A technology company dealing with publicly accessible cryptocurrency solutions Virtual Crypto Technologies is revealing its bitcoin ATM NetoBit at TechCrunch event in Tel Aviv on June 7. NetoBit is notable for being a bidirectional platform (users can buy and sell bitcoin for fiat). It is the world's first and only ATM providing a real-time conversion, purchase and sale of bitcoin.

NetoBit solution overall are distinctive for a validation algorithm (predict if the transaction will be approved immediately) and for allowing users to work with several crypto exchanges simultaneously for each transaction. Moreover, financial management system of Virtual Crypto supports an operation of a large number of ATMs and POSs (in April 2018 the company launched POS NetoBit Pay).

We continue to set standards for the burgeoning cryptocurrency sector. Our proprietary algorithm reduced the typical transaction time from 10 to 60 minutes to several seconds. At this stage, NetoBit ATMs combine that speed with the convenience of an ATM, giving customers the ability to buy and sell bitcoin with fiat money. The result is a vastly improved trading experience for customers, which we believe will be attractive to our business partners as well as consumers.

 

Alon Dayan

CEO, Virtual Crypto Technologies Ltd.

More details can be found here.

Bakkt to Release Consumer App This Year

The app can be used for a wide range of tasks, e.g., crypto and securities trading, virtual goods purchase, etc
23 January 2020   94

Institutional Investor Platform Bakkt will release an app for retail investors this year, with which users can pay with cryptocurrency.

According to the president of Bakkt Adam White at the World Economic Forum in Davos, the application can be used for a wide range of tasks. In addition to trading cryptocurrencies, it will support various virtual “goods” like points of loyalty programs.

In addition, in the future it is possible to add securities trading, as well as the creation of a portal for shops and merchants. That is, the application will be more like a traditional fintech product like PayPal than a solution from a cryptocurrency exchange.

Although the Bakkt platform was originally created for institutional investors, the new director of Mike Blandina is very serious about entering the retail market. Earlier, he said that the application for retail investors should be released in the first half of 2020.

I do not think we are there yet. What gives me optimism is that we are seeing a lot of developer interest. I am confident that someone is going to find something.

 

Adam White

President of Bakkt

 White added that the cryptocurrency market is still underdeveloped.