Is it a good time to jump into crypto?
Market sentiment has changed and spring is here. The market has waved off the Binance hack, the Tether & Bitfinex Fud, and bitcoin and Ethereum are soaring. We’re seeing price appreciation in other digital assets such as Ripple, EOS, Litecoin, and the Binance token as well.
The cryptocurrency industry is more mature and sophisticated. There is an increase in tools for different parties to have more information and analysis on blockchains, prices, and events within the industry. Here’s a few of them.
- Nomics – The API-first cryptoasset data company delivers state of the art market data APIs to institutional crypto investors and exchanges. The company offers a way for interested individuals to access clean data on prices and other relevant cryptocurrency data.
- Messari – This tool, curated and presented by Ryan Selkis and team acts as an information hub. Messari presents cryptocurrency news, pricing, and cryptoasset research. This tool allows for more transparency and helps to bring more credibility to the cryptocurrency sector. Messari is just getting started and is certain to offer more information, products, and services as it progresses. Ryan Selkis and company seeks to provide clarity to investors, regulators, and the general public.
- TryLolli – Shop. Spend. Get bitcoin back. Yes, this app exists and works with a growing base of merchants.
- FinalMessage.Io – Plan for the unexpected with final message. This deadman’s switch acts as a way for you to send a final message to your loved one’s in the event of your untimely demise. The message may contain whatever you want (like your public and private keys, where to access it, and how to access it).
Even with large scale companies such as Microsoft accepting Bitcoin on their websites, paying with cryptocurrency in day to day transactions has not been possible for most people.
The fact that most retailers do not have any methods in place for cryptocurrency payments only makes this problem more prevalent.
But the Winklevoss twins’ cryptocurrency exchange Gemini and payment processing startup Flexa are now partnering up to help alleviate this pressing issue.
Spedn, an iOS app that lets retail stores scan users’ phone to obtain their cryptocurrency information increases adoption.
The app deducts the dollar-equivalent of the users’ shopping from their cryptocurrency wallet. The retailer could receive the payment in cryptocurrency or in fiat, depending upon their preference.
What sells Spedn as a viable solution to brick-and-mortar retailers is that they don’t have to install special equipment or provide extensive cryptocurrency training to employees to use it. They simply configure their existing digital scanners to accept Spedn configuration. These scanners are the same equipment that is used to facilitate other phone-based apps and larger initiatives such as Apple Pay.
Big name retailers such as Nordstrom, Home Depot, Baskin Robbins, Gamestop, Crate and Barrel, and Whole Foods are joining the initiative.
2019 and Beyond
2019 should be a good year for crypto in regard to building out an ecosystem, finding more use cases, and adding value.