Alex Morris

Kik Rolls Out Cryptocurrency Tipping Feature

Admins and moderators of Kik group chats are now able to receive tips in crypto, but their amount is limited to 500 Kin ($0.01)
Kik Rolls Out Cryptocurrency Tipping Feature
Contents

Kik users have noticed a new feature that allows tipping in cryptocurrency. Unfortunately, it’s only in the early stage of development, and its functionality is very limited.

Improving the chatting experience  

According to the report, Kik moderators or admins are the only ones who are able to receive the Kin cryptocurrency in the form of a ‘thank you’ for maintaining the network. The tipping feature will only be available to a limited amount of users — they plan to create 1,000 public groups with up to 50 users being in each of them.

While it may not seem like a big deal, Ted Livingston, the founder of Kik, claims that this is a stepping-stone to shaping the Kin Ecosystem. The ability to tip would make the chatting experience more enjoyable.

The modus operandi

The tipping option is very beginner-friendly — you simply have to click the corresponding icon that is situated in the top right corner in order to see the list of people whom you can tip. As of now, this feature is not available for the general public, but its rollout is already in the pipeline.

Another restriction pertains to the amount crypto that can be exchanged. One user is allowed to send no more than 500 KIN (an embarrassingly low of $0.01).   

What the future holds for the Kin ecosystem?

Initially, Kik launched its token on an Ethereum Blockchain, but later they made the decision to migrate to a Blockchain of their own. Notably, the Kin Blockchain faced criticism from centralization opponents; it utilizes the same consensus algorithm as the EOS network. Kik is vowing to tackle this issue in the future.   

The company is encouraging developers to integrate the Kin cryptocurrency, offering a whopping $3 mln. Each app will be properly assessed in order to ensure that it aligns with security requirements. The program faced backlash after one of the selected apps did not use encryption for storing users’ sensitive data.

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Bitcoin Needs Banks and Regulators to Step in to Make it a Success

The recent move by banks to ban customers buying Bitcoin with credit cards is both good for individuals and Bitcoin
Bitcoin Needs Banks and Regulators to Step in to Make it a Success

As soon as the word “regulation” comes into contact with the crypto community, there is much booing and hissing. The decentralized nature of Bitcoin and other cryptocurrencies is supposed to bring total economic freedom but it turns out that freedom is still a dangerous thing.

The recent move by the Lloyds Banking group in the UK, as well as JP Morgan in the US, to ban the buying of Bitcoin with their credit cards is a slightly removed form of regulation that is not only necessary, but beneficial to the crypto ecosystem.

Buying with debt

Straight off the bat, it is nonsensical for people to purchase a speculative asset such as Bitcoin with credit cards, or any sort of debt.  It is not only foolhardy, but dangerous for investors, and for Bitcoin.

News sprung up during Bitcoin’s monster rally last year, through November and December, of people getting caught up in the fear of missing out (FOMO) who were desperate to get involved in this ‘once in a lifetime’ opportunity.

People began buying Bitcoin with credit cards without really taking into consideration the dangers it could bring. At that time, it was all green markets and huge upswings. However, what goes up, must come down, and down the market went.

Those people who bought Bitcoin at the top with credit cards are now suffering not only the normal debt associated with credit cards but also have to deal with almost a 50 percent loss in their investment.

Reasons for stepping in

Whenever banks start making rules about Bitcoin, people get nervous. However, it’s good to remember that this move by Lloyds and JP Morgan is really a very specific niche of regulating. The banks are not involved in controlling people and their Bitcoin but are rather setting the rules for how their credit can be used.

It is pretty standard for banking to have such a level of control, and it’s a bit of regulating that the ‘new crop’ of investors could use. The reason that the banks have for doing this is the fear that their customers will get even deeper into debt, and thus could default.

Sounds like bubble talk

Buying highly volatile assets with debt is almost always a bad move. This happened in the housing market with its sub-prime mortgages. The dotcom boom also saw people throwing huge amounts of money at companies, some of it borrowed, leading to an eventual bubble.

It is not the technology that’s the problem, but people’s psychology. If people continue to get into the Bitcoin market just to make huge returns with no understanding of the underlying asset, the currency is in danger of bubbling.

However, if banks and others step in, then a little bit of added regulation can moderate people’s worst impulses and help Bitcoin survive and become viable.

Blending in regulation

There is regulation, and then there is regulation. Some are out there to try and strap Bitcoin down to a point where it cannot exist, such as in China. On the other hand, there is regulation which is actually aimed at helping fintech and the evolution of Blockchain technology.

If there can be protections and rules from banks and other institutions to protect people from a bubble or a bad Bitcoin experience, it can only be beneficial for the digital currency and should be sought, rather than shunned.

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3 Problems Stopping Crypto From Mass Adoption, and One Solution That Solves Them All

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Crypto adoption is a hot topic that many want to try and solve as they believe it can to a world where crypto can entrench itself
3 Problems Stopping Crypto From Mass Adoption, and One Solution That Solves Them All
Contents

According to the World Economic Forum, 10 percent of the World’s GDP will be on the Blockchain by 2027.

Blockchain technology will also power all of the EU’s public services. This may happen after 2027, but according to the EU’s Commisioner for Digital Economy and Society, it is inevitable.

Meanwhile, ICOs are becoming a key way to find financing. In 2017, IPOs raised an aggregate $35 bln; the respective figure for ICOs was $5.6 bln.

This is a huge deal, given that this was the first major year for ICOs, ever- and an up year for IPOs. Given that this year’s ICOs have already made more than $6 bln, they may soon rival IPOs in total size.

The Blockchain is a big deal, and it’s only becoming more important. At the same time, there several major problems limiting the real-life usage of Blockchain technology. The challenges are so drastic that Vitalik Buterin has gone on record to say:

"If you want to build a decentralized Uber and Lyft on top of an unscalable Ethereum, you are screwed. Full stop."

This begs a simple question. Why is the current generation of Blockchain protocols, including Ether, unworkable in their current state? And how can the crypto space get past the “experimental tech” phase and become a mass-adoption-ready tech?

In this article, we’ll give you the answers by highlighting the three key problems with crypto and explaining how a new meta-protocol helps solve them.

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Problem #1: Poor scaling

Ether is one of the best, most advanced Blockchains out - but it was slowed down by a single online game called CryptoKitties circa December 2017.

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Vitalik’s words about scalability are no exaggeration.

The main problem is the very nature of Blockchain technology. We’ll explain why Blockchains are inherently poor at scaling in another article.

For now, what matters is that traditional Blockchains based on Proof of Work get slow over time and nobody’s quite sure how to solve this problem. Adding more mining and non-mining nodes doesn’t change a Blockchain’s transaction capacity. Neither does increasing the mining power of an individual node.

Indeed, the single best way to improve scalability is to step away from traditional Blockchain structures.

To this end, Kirik is a useful tool for two reasons. First, KIRIK uses IOTA’s Tangle. These tangles are similar but not identical to classical Blockchains, with the main difference being that they scale well and work much faster as the amount of transactions goes up.

Second, and this is important, Kirik is a meta-protocol that connects Blockchains (and other databases and asset types) with each other. Using its features, all kinds of other Blockchains and protocols can scale better by taking advantage of tangles- even if they don’t inherently use tangles themselves.

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The second major problem is…

Problem #2: Difficulty of programming

Developers can code apps “on top of” Bitcoin, Ether and other Blockchains. However, the standard is for Blockchains to use algorithms, i.e. long-form step-by-step instructions. This is a complicated way to code; for example, an ICO Smart Contract on the Ether Blockchain is 370+ lines long:

This kind of algorithmic programming is time-intensive. It’s like telling a computer what to do step by step- “turn on, start the hard drive, switch the monitor on, set brightness to 80 percent”- rather than relying on A.I. to deliver an intuitive experience.

Kirik helps solve this by creating a logic-based way to write Blockchain protocols and apps. Instead of writing out step-by-step algorithms, developers create smart contracts and assets with simple IF-THEN logic and let A.I. do the heavy lifting.

To illustrate the difference, here’s the same 400 lines of code from above expressed in Kirik’s logical functions:

The difference is clear. Going from 400 lines of code to two short formulas represents an exponential difference in size. Kirik does require developers to set rules to govern formulas like the ones above - but that only adds a few more lines of code.

Moreover, Kirik’s use of regular logic makes smart contracts clear to users and clients. This makes programming easier and improves scalability. No matter how you slice it, a few lines of logic-based code are superior to long-form algorithms.

All of this is important in and of itself, but also for solving problem #3.

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Problem #3: Blockchains are disconnected

Today, all Blockchains stand on their own. Many believe that connecting them is a prerequisite for mass adoption. After all, while all of them are disconnected from each other as well as traditional networks in banking, ERP, CRM, etc, they can’t be used for much and here’s why.

First of all, disconnected Blockchains mean that crypto assets are fragmented and disconnected. This decreases their value and adds unnecessary steps, risks, and costs to asset transference (e.g. via crypto exchanges).

The second problem is that separate networks make decentralized apps and crypto protocols inconvenient to use. Separate Blockchains like the Internet before 1993; they’re interesting, they can be useful, but they’re just not mass-adoption ready. For that to happen, Blockchains need to form a real network that’s connected via a single technology - namely a meta-protocol.

That’s why the next step is connecting Blockchains to create a “worldwide Blockchain” that contains all crypto assets, decentralized apps and protocols. This is the only way to truly bring about a decentralized “worldwide Blockchain” that can contain services equivalent to Uber, Airbnb, Instagram, Facebook, Google, etc.

To this end, Kirik is to crypto what TCP/IP was to the Internet. It lets developers connect Blockchain networks via a straightforward protocol, paving the way for the unification of all Blockchains.

To this end, Kirik is an important tool because, like TCP/IP,  it lets developers connect Blockchains. With Kirik, users won’t have to so much as think about the fact they’re using different Blockchains; they will have a seamless, end-to-end experience.

And as far as developers, consumers and institutions go, a single, unified, World-Wide-Web style Blockchain space will be infinitely more useful than what we have today.

Now you know the three biggest problems in the Blockchain industry and how the Kirik meta-protocol can solve them all.

To learn more about the project, and the 20+ years of research that preceded the tech itself, check out this website, whitelist and the Telegram group. You’ll see how KIRIK can enable and facilitate:

  • Decentralized crypto exchanges

  • Smart contract-based marketplaces

  • Decentralized SCM, CRM, logistical, intellectual property and other ecosystems

  • AI-powered investment and portfolio management

  • AI-run algo trading

And more…

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Top Gaming Cryptocurrencies: How to Earn Cryptocurrency While Playing Games

U.Today brings fun to the burgeoning industry in the search for the best gaming cryptocurrency? What gaming coin deserves the highest prize? We’ve reviewed them all!
Top Gaming Cryptocurrencies: How to Earn Cryptocurrency While Playing Games
Contents

The global game market is expected to hit $128.5 bln as early as in 2020. This mammoth-size industry is only getting bigger, and many are trying to make top-dollar out of it. That creates a ground for a cross-over between the gaming space and cryptocurrencies (a nascent industry that was worth a whopping $800 bln during the market peak in January).

U.Today has defined the best gaming cryptocurrency on the market that is currently making waves in the industry.

image

WAX Coin

WAX is the platform that is supposed to be a decentralized marketplace for gamers. The idea is not new — there is already a fully centralized OPSkins marketplace, but this time the task is to completely decentralize it. This ‘old wine in a new bottle’ approach is supposed to bring more transparency and streamline the transaction process. It seems like the creator of this project tapped into the right market since a whopping 55 percent of millennial gamers already own crypto.    

image

While the project sounds promising, decentralized games are struggling big with adoption (CryptoKitties probably has more developers than players as of now).  

Currently, the token is sitting at 65th place on CMC with a market cap of $62.4 mln (that’s a tremendous downfall since January, when its market cap exceeded $1.3 bln). Nevertheless, it had a rather big spike back in June with even Wall Street titan Mike Novogratz being ‘amazed’ by the intersection of crypto and the gaming industry.

Cryptocurrency

Rank (CMC)

Market capitalization

Price

WAX (WAX)

66

$63.3 mln

$0.067

Enjin Coin

Enjin is a powerful gaming community platform with nearly 20 mln gamers using it. They issued the Edjin Coin in order to make it the universal cryptocurrency in the gaming world. This ERC-20 token is supposed to be the backbone of a huge virtual goods marketplace. Users buy and sell items across thousands of games.

Apart from tackling the issues that are connected to exchanging different gaming items, the network makes transactions much faster. Meanwhile, the Enjin Smart Wallet allows users to store multiple altcoins while providing users with an extra layer of security.

image

The platform is suitable for powering crypto collectible dApps (it’s a beginner-friendly platform, so you don’t have to be a high-profile Solidity developer in order to grasp the gist). Game developers can also make sure of smart contracts.

Unlike WAX, Enjin uses an already existing Blockchain, so the main issue is to convince gamers to use it. However, there is more than enough space in decentralized gaming for both of these projects to survive.    

Cryptocurrency

Rank (CMC)

Market capitalization

Price

Enjin Coin (ENJ)

143

$20.4 mln

$0.026

ION

Does the idea that you can be paid for simply playing video games sound too utopian?

The highly ambitious projects are creating a full-fledged gaming economy that could unite players and game developers of different caliber — from indie groups to billion-dollar giants in the likes of EA.

The ION coin is based on the static PoS algorithm (according to the project’s white paper, they reject Bitcoin’s PoW because of excessive power consumption).    
 

image

As more people get on board, the ION economy (‘Ionomi’) continues to grow. The coin will acquire a lasting transactional value if there is a constant influx of users.

Cryptocurrency

Rank (CMC)

Market capitalization

Price

ION (ION)

387

$5.4 mln

$0.254

Crycash

Crycash is somehow similar to ION — gamers are able to earn crypto by simply having fun and completing numerous challenges. The project looks rather solid, and there is a good reason to believe that Crycash (CRC) may be up to a ten-fold increase.    

Crytek, a big-name German game developer, is the company behind this project. It acquired a high-profile status after the Crisis anthology. It is also worth to mention the Warface integration.

image

The coin that is earned during the game could be used for making different in-game purchases. The developers hope that it could serve as an incentive for players to spend more time on the game.

GameCredit is yet another example of such platforms (it serves a similar purpose of creating a universal cryptocurrency for gaming).   

Cryptocurrency

Rank (CMC)

Market capitalization

Price

CryCash (CRC)

1086

$158,775

$0.034

GTCoin

GTCoin (Game Tester Coin) is a unique coin that creates a bond between game developers and those who consume their product. In order to earn GTCCoin, users (you guessed it) have to test games in order to reveal different bugs.

This is a win-win situation — developers can hone some weak spots in the game, and players are able to get their hands on exclusive content while simultaneously earning coins.

This is shaping app to be a robust platform for uniting people that are involved in the process of game creation.

image

Other alternatives include:

  • FirstBlood rewards, a fairly similar project, rewards players for participating in gaming matches with the 1ST token. The project aims to bring cryptocurrency mainstream adoption closer while simultaneously enhancing transparency in the global gaming market.

  • One also should mention a $40 mln project called Refereum that rewards players with cash prizes for being involved in the game.   

  • MobileGo offers more than simply rewarding content creation with tokens – it is a global platform for conducting decentralized eSports tournaments. As the name suggests, MobileGo extends far beyond PCs, offering a competitive gameplay on a mobile phone.       

Cryptocurrency

Rank (CMC)

Market capitalization

Price

GTCoin

375

$5,7 mln

$0.007

RevolutionVR

RevolutionVR, as its name suggests, is making a revolution in the gaming industry (to be precise, in its small niche — virtual reality).

They strive to accelerate the adoption of video game cryptocurrencies, and they place an emphasis on the development of high-quality VR games.

The current VR games are not really affordable, and RevolutionVR tries to tackle this issue of high prices — that would eventually allow increasing the number of consumers. Players around the globe will be able to enjoy a high-quality gaming experience without the need to own a powerful computer at home. Moreover, it also promises to be more powerful than modern PC solutions.

RVR, the network’s native token, is already listed on numerous exchanges.   

We are not supposed to give you investment advice, but it goes without saying that virtual reality represents the future of the gaming industry, and there is a chance that RevolutionVR could spearhead this progress.

image

Cryptocurrency

Rank (CMC)

Market capitalization

Price

RevolutionVR

447

$3.9 mln

$0.019

Unikoin Gold

Unikoin Gold deserves an appearance on this list simply because many big-name investors are already backing this project, including American millionaire Mark Cuban, who earlier criticized Bitcoin due to its volatility. So, what makes these investors tick?

The eSports industry has a huge potential, and it comes as a no surprise that many are trying to capitalize on that. Unikoin is one of the new betting platforms that allows putting money on a slew of popular games such as Overwatch, Counter-Strike and so on.

image

It circumvented the prohibition on betting in fiat currencies by issuing their own token. During the ICO, it raised an eye-popping $110 mln, making it one of the most successful ICOs.  

Mark Cuban is really picky when it comes to putting his name on the list of investors of a certain project.

HEROcoin (PLAY) is also a platform that has the potential to disrupt online betting. Meanwhile, Ethbet (EBET) stands out among the rest of similar projects by offering the highest returns on the global dicing market.   

Cryptocurrency

Rank (CMC)

Market capitalization

Price

Unikoin Gold (UKG)

428

$4.31 mln

$0.03

Decentraland (MANA)

Decentraland is a popular virtual reality platform whose native token (MAGA) is on the CMC list of top 100 biggest cryptocurrencies. With Decentraland, you are able to create your own virtual reality network. It is supposed to be a Blockchain-based alternative of such hit games like Skyrim and Fallout.     

image

Unlike the majority of other projects on this list, Decentraland has been around for a relatively long span of time — the first development milestone was reached back in 2015.

The games that allow its players to live in alternative realities are growing at a rapid pace, and such technologies as 3D and Blockchain are already poised to reshape this sector.

Cryptocurrency

Rank (CMC)

Market capitalization

Price

Decentraland (MANA)

63

$65.7 mln

$0.062

The problem with gaming coins

To sum everything up, we should point out a single problem that relates to all of the aforementioned gaming coins — the pace of adoption. These projects are still in the early stage of their adoption, and they still haven’t managed to reveal their full potential. There is also a place for more global questions — will Blockchain produce a palpable impact on the gaming industry? Will dApps ever see the light after the front-loaded success of CryptoKitties?

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Crypto Comes in Spanish: At the Eve of Crypto Revolution in Latin America

Opinions
From Rio Grande to Cape Horn, the Spanish-speaking citizens of Latin America will know much faster what’s up in crypto industry
Crypto Comes in Spanish: At the Eve of Crypto Revolution in Latin America
Contents

Latin America with its over 650 mln people population has all chances to become one of the most advanced regions in the world for adoption of the next gen tech. Almost 80 percent of the people here live in cities, where technology is ubiquitous and social media are enabling new forms of engagement.

A rising middle class and an increasingly connected youth are asking for better services, more transparency, more participation, less bureaucracy and more self-government.

All that opens the way for a new budding economy born on the principles of decentralization, cutting off intermediaries and the new, unrestrained creativity.

Ripe for revolution

The crypto industry is as of yet fledgling but its potential is enormous as show the crypto communities that are actively growing in Argentina, Mexico, Brazil, Colombia, Venezuela and other countries of the continent.

Crypto projects are getting in spotlight supported by the famous Latin American football stars like Lionel Messi in Argentina and James Rodríguez in Colombia.

“This is ... just the beginning of a great technological revolution in Latin American countries that strive for more transparency,” says Pedro Gutierrez, head of Latam Nem.io, one of the most rapidly growing platforms in Latin America.

However, the new ways of industry, commerce, education and self-government in Latin America require the new media that will report the changes in the making. That’s why we’re launching the Spanish-language edition of CryptoComes.

It is headed by crypto community activists and journalists with brilliant knowledge of Blockchain tech and their own history of successful projects. Congratulations on the launch to the editor-in-chief Sasha Ivanova, and all those on the team who are making it possible: Ángel Di Matteo, Jose “Chema” Padrón, Arnaldo “8A” Ochoa, Angelica “Keka” Rincón, Angeline Chacin, Jose Garcia, Pedro Reypuma and Germán Guismondi.

From now on, the Spanish-speaking citizens of Latin America and other parts of the globe will know much faster what’s up and new in the field. Directly in their language, they will get hot news, crypto market reviews, ICO analytics, interviews with major newsmakers, in-depth feature stories and thought-provoking opinion in line with the CryptoComes core journalistic values: clear thinking, accuracy, impartiality and independence.

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From Rio Grande to Cape Horn

The Blockchain-based companies will get a support with their arduous task of showing investors the great advantages that crypto tech brings about, which will help its wider adoption from Rio Grande to Cape Horn.

From the start, the readers will learn about the fiat money operations suspension announced by the Colombian exchange Buda.com, about the major coming events like Blockchain Summit Latam Colombia or BitcoinDay Monterrey where crypto investors and community enthusiasts could meet representatives of Rootstock, ConsenSys, Bitso and other companies. In an exclusive interview with CryptoComes Español, director of the major Latam social network Taringa! explains the details of their token sale and the roadmap.

On the educational side, Spanish-language newcomers could learn using our step-by-step trading guides, crypto tips and WikiCoin references that will help them cope with crypto economics.   

Stay tuned, amigos, and let’s build a better community together!

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Fidelity’s Foray into Cryptocurrency an Important Bridging Exercise for Bitcoin and Banks

Financial services giant Fidelity is taking a huge step into cryptocurrency and in doing so could be building a big bridge to adoption
Fidelity’s Foray into Cryptocurrency an Important Bridging Exercise for Bitcoin and Banks
Contents

Fidelity, the financial services giant that administers more than $7.2 trillion in client assets, announced a new and separate company called Fidelity Digital Asset Services yesterday in what must be considered a major move.

In terms of adoption, the likes of Bitcoin and other major cryptocurrencies have hit a bit of a lull as the excitement of massive price spikes have abated, and there are still big barriers to entry for institutionalized investors.

But, this latest move by Fidelity is an important one as they state themselves it is about trying to entice these institutionalized investors into this new market and new asset class. Fidelity is also going after big money with this product because of a lack of regulatory clarity for the every-day investors which is another important aspect to consider.

Still, it is an unsurprising move as CEO Abigail Johnson has always been a Bitcoin believer and really it was only a matter of time before this financial giant crossed the threshold into cryptocurrencies.

What has Fidelity created?

The new company, Fidelity Digital Asset Services, will firstly handle the custody of the cryptocurrency assets of its clients. This is much the same as how companies like Coinbase and Gemini hold onto users’ cryptocurrencies.

It will also execute trades on multiple exchanges for investors such as hedge funds and family offices, but these clients will be high level and sophisticated investors for the time being as for a retail product there are still too many regulatory hurdles to get through.

In addition to storing cryptocurrencies, Fidelity Digital Assets will use an existing internal crossing engine and smart order router for trade execution. This order router will allow Fidelity institutional customers to execute trades for Bitcoin, Ether and other assets at multiple market venues.

A step towards bridging the gap

While this type of crossover from traditional financial services into the cryptocurrency space is not totally unheard of, Fidelity represents the first true Wall Street incumbent to make such a service available for traditional investors.

This is vital in Bitcoin and other major cryptocurrencies’ move to mainstream adoption as the belief is the barrier to entry for big money investors getting into cryptocurrencies is the unknown. There is a lot of money waiting to join this nascent market, but these investors are unsure of the space and how to negotiate it.

So, with a company like Fidelity offering services and a trusted name, there is a much easier path for these institutional investors to join. Many are still holding out for a Bitcoin-backed ETF to open the floodgates of new money into space, but projects like this from Fidelity are another avenue.

Driven by a believer

Part of the reason that this product has come to fruition in this way is that of the CEO of Fidelity Abigail Johnson and her belief in Bitcoin stemming back to 2014.

Fidelity has a few existing cryptocurrency projects: It started bitcoin mining in New Hampshire when the digital asset's price was around $180. It has a partnership with Coinbase that allows Fidelity customers to check their cryptocurrency balances on the Fidelity app, and in 2015, started facilitating charitable donations in Bitcoin.

“Johnson is very interested in this and stays up on developments in the space in quite a significant way,” said Tom Jessop, head of Fidelity Digital Assets.

The news has also been received well across cryptocurrency Twitter who are mostly astounded that a company that works with so much money is entering the cryptocurrency market in such a way.

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