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AirTM Currency Conversion Success Hinges on Bitcoin Integration

Source: bitcoin

Bitcoinist_Currency Conversion

Growing a Bitcoin exchange or brokerage service is not an easy task, as there is a lot of competition in this niche market right now. Furthermore, there are plenty of consumers who are not looking at Bitcoin as a solution to their financial problems just yet. But neither of these factors is keeping AirTM from becoming a big success. This service built on top of Uphold’s cloud money platform make it easy for consumers to convert in and out of Bitcoin.

Also read: Jamie Dimon: Bitcoin Doomed While Blockchain Is for Real

AirTM Powers Cloud-based Currency Conversions

What makes the services provided by AirTM, so appealing is how they work with local cashiers in various regions, which help clients deposit and withdraw local currency. For example, it is possible to send Chinese Yuan to an AirTM cashier via bank transfer and have them convert it to US Dollars, which are then deposited into the client’s account.

Some people might be wondering how this principle is possible, as it requires cooperation by banks and other financial players. Bitcoin holds the answer to all of the questions, as the popular digital currency is used to convert funds to US Dollar through the Uphold platform. This funds is then used to fund AirTM cashier accounts and service clients looking to convert currency.

Most people who make use of such an AirTM cashier are not even exposed to the Bitcoin factor, as all they see, is local currency going in and foreign currency appearing in their account. While this method should be heralded and applauded by the Bitcoin community, AirTM deliberately remained quiet on using this technology when dealing with customers. After all, there is a fair amount of bias in regards to Bitcoin services, even if they use the digital currency to convert between fiat currencies.

Bitcoin can serve as a great tool to provide financial services to the unbanked, but AirTM is using the digital currency for a different purpose. By embracing Bitcoin, the company can offer a digitized US Dollar to its customers, which is subject to a far larger addressable market than digital currency – for now, at least.

Using Bitcoin Without Advertising It

While some people might disagree with the business strategy employed by AirTM, the company is seeing tremendous success from using Bitcoin. Granted, they are not advertising the involvement of digital currency by any means, yet their entire business runs on top of Bitcoin.

This strategy seems to be work quite well, especially when considering how the concept of Bitcoin is too volatile for most everyday consumers and businesses. Right now, there is a growing demand for various currency exchange solutions, and Bitcoin provides companies such as AirTM with the functionality to offer these conversions on the fly.

The connection with Uphold is of great importance as well, considering how the latter has no ties with the financial infrastructure in most of the countries where AirTM operates. Exchanging local currency to US Dollar can be a major hassle in some of these regions, and Bitcoin – unknowingly – provides them a way out.

What are your thoughts on the service provided by AirTM? Is this a great way to showcase Bitcoin’s strengths/ Let us know in the comments below!

Source: Medium

Images courtesy of Shutterstock, AirTM

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AirTM Currency Conversion Success Hinges on Bitcoin Integration

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Led 31

Virtual Reality and Cryptocurrency: Volexus and Uphold Join Forces

Source: bitcoin

Virtual Reality and Cryptocurrency: Volexus and Uphold Join Forces

Virtual reality is an artificial environment that is created with software and presented to the user in such a way that makes it look as a real environment. The virtual reality industry is expanding faster than ever as new investments are being made to support future VR-based applications. The industry is now making big efforts to develop new approaches and new tools to improve the usability and allow anyone to explore the full potential of this new technology.

Also read: Bitcoin 2015: A Year in Review

Virtual Reality also seems to be the perfect place to use virtual currencies and now two companies are trying to bring digital currencies and virtual currency together to start a whole new niche of development.

Uphold, a Cloud-based financial service and Voxelus, a virtual reality-based platform, have announced a partnership to enable Voxel users to purchase Voxels (VOX), which is the official currency of the virtual reality content creation platform. By using an Uphold account, Voxelus members will now be able to purchase Voxels directly from their Uphold wallet with no fee costs associated. Uphold also allows VOX to be moved, converted, held and traded as any form of digital currency. Voxels are designed to be used for the purchase, sale, payment and settlement of all content, products, services and awards within the Voxelus platform.

Halsey Minor, Voxelus Founder and CEO told Bitcoinist:

“Since I am the founder and majority shareholder of Uphold and co-founder and majority shareholder of Voxelus, this allows me to combine the best innovations from both companies.”  

Bringing Digital Currency and Virtual Reality Closer

Voxelus is a virtual reality-based platform that allows for its users to play virtual reality games, easily create content and share it without having to know how to code.

Halsey Minor, Voxelus Founder and CEO says:

“Virtual currencies arose from in-game currencies. That’s where the ideas came from. Our goal was to create an in game currency that could create a real ecosystem where people creating cool content for the game can get paid in money that can actually buy things in the real world.”

The platform is trying to strengthen the ties between the two technologies and understands that both industries can benefit from each other. Besides the Internet of Things, these two industries are expected to go on full growth for the next years.

Minor stresses:

“The next 10 years is all about FinTech and VR. Two of the largest industries in the world: TV and banking & finance are going to get disrupted. Honestly, what could possibly be more exciting to watch than that, happen!”

Digital currency and Virtual reality – the perfect synergy

Halsey Minor also considers that VR and digital currencies are two new industries that are still giving its first steps and can learn from each other:

“There is no reason that virtual worlds cannot have their own currency, tuned to their own needs. Soon, virtual worlds and real ones will start to converge and one can expect things like money in the real world to have their virtual counterparts in VR. If there was ever a great place for a virtual currency, it’s clearly a virtual world.”

Founded in 2015, Voxelus is a revolutionary platform that allows anyone to create Virtual Reality games, experiences and virtual spaces without having coding skills. The platform consists in three basic fundamentals: Content creation, Game Play, and a Voxelus Marketplace, where creators and users can negotiate virtual reality content and games inside the Voxelus ecosystem, with Voxels. Voxelus also supports real-time multiplayer and is compatible with both Oculus Rift and the Samsung Gear. The system resembles Second Life, as content designers are also rewarded for their content with an in-game currency – the Linden dollar.

Voxelus members can buy VOX directly on Uphold using bitcoin, bank transfer, credit or debit card, and hold VOX safely and securely in their Uphold Wallet for free. Voxelus is scheduled to fully launch before April 2016, and currently, Voxels are only accessible via beta pre­sale only.

With this partnership, the two companies become pioneers in a cooperation that will certainly bring a lot of innovation for both industries.

What do you think virtual reality can do for digital currency? Let us know in the comments below!


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The post Virtual Reality and Cryptocurrency: Volexus and Uphold Join Forces appeared first on Bitcoinist.net.

Virtual Reality and Cryptocurrency: Volexus and Uphold Join Forces

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