Monthly Archives: Dezember 2020

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Wirex crypto-card supplier becomes a leading member

Wirex crypto-card supplier becomes a leading member of the Visa network in Europe

The supplier of Wirex crypto-cards has just obtained the status of Visa principal member in Europe. The company can now issue Visa cards on its own and offer new services.

Based in London, the Wirex crypto-card supplier is now a principal member of Visa in Europe. Obtaining this much Bitcoin Trader sought-after status gives Wirex the necessary authorisations to independently issue Visa debit cards.

Wirex thus joins Coinbase, which until now was the only company specialising in cryptocurrencies to have the Visa principal member status.

„Digital currencies have the potential to extend the value of digital payments to more people and more places,“ said Cuy Sheffield, Senior Director and Head of Cryptography at Visa. „We are delighted to be working with innovative Fintech companies such as Wirex, and to enable their customers to use digital currencies at more than 61 million merchants in the Visa network. »

Pavel Matveev, CEO and co-founder of Wirex, stressed in the press release that obtaining Visa Master Member status will provide the company with many opportunities. In particular, it will help Wirex to develop its product internationally:

„Our main objective is to unite traditional and digital economies, and collaborations with trusted global payment companies such as Visa make this possible by providing simple and cost-effective solutions for the day-to-day use of cryptography,“ he added.

Wirex strengthens its position in the crypto-card market

As Wirex mentions, this announcement comes at a pivotal time for the cryptomatics industry, as Bitcoin (BTC) reaches new historical heights and becomes the asset of choice for many institutions.

Moreover, Wirex claims that the number of cryptocurrency exchanges on its platform has increased by +271% compared to last year, a metric that alone shows the company’s development in the industry.

Particularly appreciated, Wirex’s crypto-card is accompanied by a cashback system called Cryptoback, which allows to recover in BTC up to 1.5% of the value of a transaction carried out in shop.

Currently, Wirex products are available in Asia and Europe, where they have already won over 3 million users, according to the company. Within the next few months, Wirex also plans to expand its activities by setting up operations in the United States. In addition, the company has already received a licence from the State of Georgia allowing it to launch payment services.

As a reminder, Wirex was the first company in the world to issue a crypto-card in 2014. Since then, Wirex has been enabling its customers to transparently spend up to 20 crypto-currencies and fiat currencies through the Visa network.

Bitcoin 2021: Will the coming year be a successful year for BTC?

Bitcoin (BTC) and gold: the two are often compared in terms of store of value.

Both assets can be used to store value. Bitcoin is easier to transport and sell, but more volatile in price. Gold is the traditional save haven, but not as dynamic as Bitcoin. The picture shows a Bitcoin in front of gold pieces.

The coming year is just around the corner. After the new decade was a complete success, at least from the perspective of the largest cryptocurrency Bitcoin (BTC), the question is what will happen next year. Will we see new highs in 2021 and what events will go down as milestones in Bitcoin history?

Quite apt to this is a description from a report published last week by Wells Fargo, a major US bank. John LaForge, who is the bank’s lead for asset strategy, said:

Over the past 12 years, bitcoin and cryptocurrencies have risen from nothing and now have a market capitalization of $560 billion.

Will 2021 be the year of cryptocurrencies?

John LaForge talks about both the pros and cons of cryptocurrencies in the Wells Fargo Report. At the same time, his basic tenor is optimistic and directed towards the future.

In his opinion, we are long past the moment when it was still said that cryptocurrencies were a fad. Especially in 2021, he said, we should focus on digital assets.

Factors such as sovereign central bank currencies (CBDCs) also play a role in the ongoing digitization of our currencies.

From a bitcoin price perspective, LaForge comes to a bullish conclusion. Thus, he said:

Bitcoin saw a 170% increase this year after already rising 90% in 2019. Investing in cryptocurrencies is a bit like life during the „gold rushes“ in the 1850s. Here, people often speculated a bit more than they invested.

Still, he says, investing in cryptocurrencies is not generally speculation. On the contrary, LaForge gives the justified indication that this year, in addition to classic private investors, in particular large players such as MicroStrategy, PayPayl, Square, as well as a large number of hedge funds have entered the Bitcoin trade.

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Bitcoin: symbiosis of modern and ancient finance

Pierce Crosby gives us a similar and interesting perspective on 2021. Crosby works as a „general manager“ for the all-knowing website and company TradingView.

2021 will mainly revolve around continuous improvement and the ongoing dovetailing of the traditional financial market with the crypto market.

In his opinion, this would result in a bullish case for cryptocurrencies like Bitcoin.

Companies like Square or PayPal impressively show that the interest of retail investors in cryptocurrencies is far from saturated, he said. Furthermore, there are many attractive use cases for Bitcoin and Co.

Increasing adoption, in turn, is also reflected in the price of Bitcoin and other cryptocurrencies, in his opinion. But despite BTC’s strong performance, Crosby sees another winner in 2020:

Bitcoin volatility has been high this year and performance has also been strong. But it’s impossible to top what happened in this year’s DeFi Summer.

Crosby also counts Ethereum (ETH), which is up nearly 300%, as one of the big winners of 2020. The rising interest in decentralized financial instruments has helped both DeFi itself and Ethereum tremendously.

From a trading perspective, the focus this year has been on generating returns through yield farming and similar products.

Finally, he concludes that we have seen a variety of applications of Bitcoin and Co this year. He expects that this was just the beginning and will continue more strongly in the coming years.