Snapcard and Alpha Payments Cloud In Bitcoin Payment Partnership

The Bitcoin is becoming increasingly popular all over the world, with an estimated 7 million either trading or using Bitcoins on a regular basis. A lot of the mainstream adaption comes from services and businesses accepting Bitcoins, but we still haven’t seen a small percentage of the world’s businesses integrate it yet.

With more companies integrating the Bitcoin as a payment method, people will have a cheaper alternative towards paying, as well as more secure. For the companies it is also beneficial, as they will save a fortune in transaction costs and the security in Bitcoins are a lot higher than in regular payment methods such as credit cards and bank wires.

Now we will see yet another boom of businesses accepting Bitcoins online and land-based as Snapcard (now Sendwyre) and Alpha Payments Cloud has signed a partnership agreement to power AlphaHub customers with Bitcoin acceptance.

Snapcard is one of the leading Bitcoin payment processing as well as Bitcoin wallet companies out there. Alpha Payments Cloud is a major payment processing company, with customers all across the globe.

The existing AlphaHub customers, as well as new, will be able to accept Bitcoins through a single, simple API integration on their websites. It litterally only takes a few clicks and their shop or service will be ready to accept Bitcoins.

“The AlphaHub API connects banks and merchants to more than 100 white-label solutions like gateways, alternative payments, ID verification, chargeback management– we’re excited to work with Snapcard to help our clients capture the added-value of accepting global alternative payments like Bitcoin,” commented Rónán Gallagher, Chief Product Officer at Alpha Payments Cloud.

Alpha Payments Cloud will furthermore refer interested customers to Snapcard, who will help educate the staff in Bitcoins, acceptance of them and everything else that one needs to know to accept the cryptocurrency.

“We pride ourselves in customer service and understand that with a new payment method like Bitcoin, it’s important to stay involved in the educational process,” noted Michael Dunworth, CEO of Snapcard, “Alpha is known for its innovative initiatives in the payment space– with this partnership, we’re looking forward to bringing a beautiful line of Bitcoin products to Alpha’s clients.”

The pricing should be quite attractive for many of AlphaHub’s customers, as there will be no setup costs or monthly fees. Instead, all businesses accepting Bitcoins will be paying 0.5% of each transaction made with Bitcoins, which will provide an average save of 3% compared to the regular methods.

Not only can the businesses who choses to accept Bitcoins through AlphaHub find new target markets and save money in fees, the Bitcoin also get more exposure to the general public which will attract more people towards using Bitcoins as their preferred payment method.

Hopefully we will see a wide range of different industries and shop integrate Bitcoin as a payment method, so that the mainstream adaption can reach new crowds. The more smaller businesses that integrates Bitcoins, the more the larger companies will consider doing so as well, creating a ripple effect that could only benefit the Bitcoin in the long run.

Denmark Aiming For Cash-Less Society – Will Bitcoin Play A Role?

Denmark is a country well-known for several things. First and foremost they have been awarded as the happiest country in the world, but they are also well-known for being very well educated and having a great economy – one of the best in the world per capita.

A society like theirs – and the rest of Scandinavia – is very pro-technology and is always looking for ways to make things more simple or cheaper compared to the way things are done today.

One of the things the country’s government is currently looking into is to make Denmark cash-less long-term, starting with a short-term plan where cash no longer would be accepted at restaurants, clothing retailers as well as on petrol stations.

While the idea is not yet approved, it seems that it may be. If so, it is just the first step on the way to making Denmark cash-less completely. Here’s where things gets interesting, because if that happens, can the Bitcoin play an important role?

Today most things are being paid with credit/debit card in Denmark, as well as through a mobile payment system, allowing people to pay and transfer funds directly from their mobile device. The transition towards not using cash at all wouldn’t be that hard for most Danish people, but do they wish to do so?

The problem in a cash-less society is privacy. There will be no privacy for anyone in a cash-less society, where the banks and government can track every single money transfer, payment or whatever else one does with funds.

Here’s where the Bitcoin comes into the picture. If there will no longer be cash to be used “anonymously”, where will people turn if they are not interested in the bank and the government knowing what they spend their funds on? That’s right, the Bitcoin.

The Bitcoin is already somewhat popular in Denmark, with many people using Bitcoins to gamble online, as well as pay in the few places that currently accepts it. The country also have three Bitcoin ATM’s, all located in the capital of Copenhagen.

However the Bitcoin may be boosted significantly when people finds out about the Bitcoin and its anonymous nature. Denmark has decided for now not to regulate the Bitcoin, allowing people to spend them as they want without having to be tracked by anyone.

So with one of the strongest economies in the world, the Bitcoin may get a significant boost in the right direction from 2016 already, when people wants to be able to spend money without being tracked.

But it will not only be good for the general public if the Bitcoin gets a boost in Denmark, as the shops who will be forced to accept credit card payments will want to have a cheaper alternative. Credit card fees are extremely high and cuts directly into any profit margin, while the Bitcoin is free to accept and costs almost nothing in general.

Coinify, a Danish Bitcoin exchange and Bitcoin payment system provider, are ready to provide shops, restaurants and whatever else with the opportunity to accept Bitcoins and convert the funds into fiat-money. This way we all win – There will be no traceless cash and we will all still have the possibility to pay in an anonymous way, whilst the shops saves money in fees.

Customers Can Now File Claims For Lost Bitcoins Against Mt. Gox

The Bitcoin and its industries is currently growing like ever before. We see more and more gambling sites opening up their doors to accepting the cryptocurrency, we see more and more mainstream adaption and we see more vendors, charities and online businesses accepting it.

But we don’t have to go more than a little over a year back in time to find the by far biggest bump in the road for the Bitcoin, when the biggest Bitcoin exchange site at the time, Mt. Gox, went bankrupt after months of problems.

Mt. Gox closed its doors officially in February of 2014, but at the time of the closure the customers had not been able to withdraw their funds or Bitcoins for months. Mark Karpeles, the owner of Mt. Gox, denied any issues almost until the end, but there was no way around a bankruptcy for Mt. Gox.

A total of 850,000 Bitcoins were missing for the company, totaling at a value at the time of almost $64 million. The case is the biggest to date in the Bitcoin industry and it should never be replaced, with new security measures in place, better control as well as regulations from many countries.

This doesn’t help the customers who lost their funds very much however. Many lost life-changing money when Mt. Gox closed down and people were so frustrated that they actually travelled to Mt. Gox’s headquarters in Tokyo, Japan, to try and figure out exactly what had happened.

Mt. Gox has since its closure been subject to several investigations and probes, to try and find out where the Bitcoins went exactly. It was first believed that Mt. Gox was hacked during 2013, where most of the Bitcoins were stolen from the exchange site, but that doesn’t seem to be the case anymore.

CoinDesk.com reported earlier this week that the Bitcoins had been going out of the system from 2011 until May 2013, where the company had almost no Bitcoins left and were effectively bankrupt at that point. The Bitcoins had been withdrawn from the company and sold on other exchange sites, leaving the company to operate at fractional reserve basis. 

There is some good news for those who lost their Bitcoins in the Mt. Gox failure, as the site has now opened up for customers to make a claim against the company. To do so is quite simply, as you simply need to visit claims.mtgox.com and fill in your account details by May 29th this year.

Once done you simply submit the claim on the website and the company will then make a decision on what will happen on September 9th this year. While there’s almost no chance that the customers will see all of their Bitcoins back, it is positive that something is done in the case, unlike other Bitcoin exchange sites who closed shop without letting customers filing claims.

In the end, it doesn’t really matter how large a portion of the Bitcoins that the customers will receive back, they will still lose money. The Bitcoin was valued much higher when Mt. Gox went bankrupt than it is now, but for those who uses the Bitcoin without thinking of its fiat-money value, it is still a lot better than getting nothing back at all.

So if you were a customer at Mt. Gox, visit claims.mtgox.com and fill in the claim. It doesn’t take long and you have nothing to lose by doing it.

Bitcoin Now Accepted By More Than 100,000 Retailers Across The Globe

The Bitcoin has come far in the past few years, as the first couple of years it was simply an idea of a futuristic currency that some tech-interested people decided to be a part of. By 2011 it started to be used as a currency online at places like Second World, as well as with the first few gambling sites that popped up.

It wasn’t until around the end of 2011 that the talk about the Bitcoin actually becoming a mainstream payment method started popping up. People started to realize that the fast processing, the security and the ability to process extremely small amounts of money for free was a great idea.

By the start of 2012 we saw companies popping up that offered online retailers the possibility to accept Bitcoins without having to code anything themselves and later on we saw companies like Coinify, BitPay, GoCoin and Coinbase offer Bitcoin payments that are turned into fiat-money instantly after the payment.

All of this has led to the stage that we are currently at – Many smaller Bitcoin specialized companies that accepts Bitcoins only and keeps the Bitcoins  and then the others who wants to accept Bitcoins, but wants to turn them into fiat-money instantly. The ladder group primarily uses the Bitcoin as a mean of saving tons of money in payment processing and reach a new audience.

The great thing is that we are currently seeing a massive increase in smaller and larger companies starting to accept Bitcoins and the world currently have more than 100,000 retailers where you can pay with your Bitcoins, making mainstream adaption very real.

Some of these companies includes Overstock, Microsoft, Dell, Expedia, PayPal, Wikipedia, Twitch and Rakuten, to mention some of the biggest ones. BitPay registered a total of 563,568 Bitcoin payment transactions in 2014, almost tripling the amount from 2013, and they are just one of many Bitcoin payment companies.

The amounts saved in payment processing fees for the companies accepting both fiat-money payments and Bitcoins is estimated at being around $15 million in 2014. $8 million of these was saved through BitPay’s services alone, showing that they are currently market leading in the Bitcoin payment processing field.

While things are currently looking good for the Bitcoin, there is still a long way to go for the Bitcoin. More companies needs to accept the Bitcoin as a payment method, but more importantly they need to create campaigns to attract users to use the much cheaper Bitcoin payment method.

Some companies has from the start of their Bitcoin acceptance created promotions where customers saved money when paying with Bitcoins, which boosted their sales and still saved them money. If companies continue to do these promotions, we should see the Bitcoin becoming more commonly used.

Hopefully we will see the Bitcoin becoming accepted by hundred of thousands of more online shops in the near future, with some of the savings in fees for the companies going back to the consumers in terms of cashback or direct discounts. When this happens, the future looks more than positive for the Bitcoin.

Lawnmower App Invests In Bitcoins For You

If you are into Bitcoins, chances are that you have tried to invest in them for both a short-term and long-term gain in value. While there has been some making a ton of money by being an early adapter, many of us have only been able to make a little profit, if any, by investing in Bitcoins for the sole purpose of investing.

Now there’s good news for those of us who wants to invest in the Bitcoin but never feel like we have a good chunk of cash to put aside for it. A new application has been launched, dubbed “Lawnmower”, which helps you invest in the Bitcoin every time you do a purchase with your credit card.

The application was introduced just last week and what it does is genius for those interested in investing small amounts daily, with higher risks but also potentially higher rewards. It basically tracks all of your credit card and bank transaction movements and rounds up the amount.

So if you are out in a cafe and spend $9.77 on a sandwich, it will round up the amount to $10 and use the remaning $.023 to invest in Bitcoins. While this is seemingly a small amount of money, with all the transactions that you might do over the course of a year or even several years, it can provide you with high-value investments in Bitcoins over time.

While there is no guarantees that the investments will give you any sort of profit, due to the volatile nature of the Bitcoin, it is a great tool for those of us who believes in the Bitcoins future and wants to continue to support it.

“We’re promoting these tiny little purchases every day. It’s really for the saving, investing side of Bitcoin’s growing uses” Alex Sunnarborg, Co-Founder of Lawnmower said to Fortune.

The application is meant as a tool for young investors and entrepreneurs, helping them invest without having a minimum amount of money that needs to be invested. It is also meant to appeal to the younger generation mainly, due to them spending a massive amount of time on their smartphones nowadays.

There is no fees for using the service per se, however as they have teamed up with Coinbase for the service, you will be subject to the standard exchange fees charged by them when you exchange your funds into Bitcoins through the application.

The team behind Lawnmower believes that they can help convert more mainstream people over to the usage of Bitcoins through the app, making it easier to get into the whole Bitcoin world without having to go through the troubles of explaining your bank what the Bitcoin transactions are for.

The application is already seen as a success as many young people have already signed up for the services and started using it. It is believed that more and more will use the application within a few months, which may lead to a higher demand for Bitcoins and thus increase the value over time.

Betkurus Bitcoin Gaming Site Receives $670,000 in Investments

The Bitcoin gaming industry has been growing rapidly the past years, with more and more new sites popping up, as well as established sites integrating the cryptocurrency as a payment method. Furthermore it is expected that the Bitcoin gambling industry will grow even more in the next few years, which makes it interesting for investors looking towards the gambling industry.

While the Bitcoin gambling industry started out with some small sites started by people with little to no experience in the field, it is now seeing a takeover from experienced gambling industry people. These people are looking to take the Bitcoin gambling industry to the next level and make it as popular as the fiat-money industry currently is.

One of the sites who are looking to benefit from the popularity of the Bitcoin is the Turkish Bitcoin gambling site betkurus.com, who serves customers from around the world, but started out in Turkey.

The site was launched back in October of 2014 and went in a direction that we see more and more sites do, obtaining a gaming license to offer regulated and safe games. They hold their license in Curacao, who regulates all financials, games and everything else to ensure the safety of the players and the games at all times.

Betkurus is looking to take over a substantial part of the Bitcoin gambling industry and has just received $670,000 in investments to make that happen. The investment came from Hong Kong-based payments provider company CoinMatrix, who are looking to help Betkurus develop their product line to gain market shares.

Besides the massive investment in Betkurus, CoinMatrix also integrated cutting-edge payment systems into their platform. It is now possible for customers to have instant Bitcoin-to-fiat deposits done on their accounts, without having to wait hours for the site to find the correct exchange rate.

This provides players with the possibility to turn their Bitcoins into fiat-money instantly at market rate and gamble anonymously on the site, through the currency of their choice which includes USD, Euro and many more.

There’s no need for any banking accounts, to verify their identity or similar hassles before starting to play. It also provides the stability in value that the fiat currency provides along with the security of the Bitcoin as every transaction is recorded on the blockchain.

The Bitcoin gambling industry is currently being valued at around $320 million annually, but the numbers are increasing every year, with the fiat-money gambling industry also integrating Bitcoins as a payment method in a rapid paste.

While this does provide a great way to gamble without having to care about the volatility of the Bitcoin, it is not going to replace Bitcoin-only gambling. Many people prefer to just deposit their Bitcoins, play and then cash out, without having to think about the fiat-value of their coins.

There are many good sites that you can bet with Bitcoins on, which you can find in our review section.

 

 

BetOnline Has Integrated Bitcoin As a Payment Method

Since the Bitcoin was launched and starting reaching the first tech crowds, it has been used for gambling. It started out with just a few dice sites, a poker site as well as a few other sort of casino sites, but it gradually grew to a multi-million industry when the Bitcoin increased in value over the course of three years.

What attracted the tech crowd to gamble with the Bitcoin was that it was anonymous, easy, secure and most of all fast. There was no need in having to keep the funds in the site as withdrawals could be paid within a matter of 30-45 minutes, allowing players to always keep their funds somewhere safe.

It took a few years, but gradually the established gambling industry began to see the benefits of the Bitcoin in the gambling market. The anonymity, the fast and cheap transactions, the security of the network  and the big market capitalization has made a big impression on many sites, especially those serving customers from the US.

BetOnline.ag has been one of the biggest bookmakers in the US for the past decade, having had to change their business model several times along the years due to new laws, restrictions and so on. A site operating in the US market will always have to pay a premium fee for any company who can help process payments, whether it is a deposit or a withdrawal, given that they can even find anyone to help them.

They offer not only betting on American sports, as well as rest-of-world events, they also offer their customers the chance to play a wide variety of casino games as well as battle other players from around the world in a game of poker.

Now they finally embraced the Bitcoin and all that is good about it and started to offer it to their customers. Not only has it been a success, it has been a massive success, as BetOnline can report that Bitcoin is now their second most used payment method after the traditional credit card and it’s moving closer and closer.

When you make a deposit with Bitcoins to BetOnline, the Bitcoins will be converted into $ at the exchange rate that they provide on the screen. The exchange rate is an average rate taken from several different exchange sites, to provide a fair exchange for the users. The minimum deposit amount in Bitcoins is equivalent to $20, while users can withdraw a maximum of $2,000 per day in Bitcoins.

While deposits are almost instantly credited to your account, withdrawals may take a little longer due to the fact that they need to have time to process it from their end. Usually it will take around 48 hours, which is industry standard for sites who doesn’t only deal in Bitcoins.

BetOnline is far from the first US-facing site to integrate Bitcoins as a payment method, but they are amongst the biggest to do so. It marks an interesting time in the gambling industry, as the Americans has found a cheap, reliable and anonymous way to gamble online without being worried about the banks reporting them, while the sites don’t have to look over their backs to see if the DOJ is watching.

Due to the popularity the Bitcoin is currently experiencing in the US for the gambling industry, it is natural to believe that many will begin using their coins to pay for other things, both online and offline. This could lead to an increase in revenues for the Bitcoin accepting stores and thus attract more companies to accept it. Gambling may be leading the way for more mainstream Bitcoin acceptance and perhaps it can help the value increase over time.

Neteller Announces Bitcoin Deposits in Online Wallet

One of the world’s largest online wallet systems and prepaid Mastercard providers, Neteller, announced today that they have integrated Bitcoin as a deposit method to fund accounts. The feature has been spoken about for days, but was not officially confirmed by Neteller until today, where the feature was also integrated.

Neteller was founded back in 1999 in Canada, but have since then moved a large part of their operations to the Isle of Man. They were the biggest online wallet system after PayPal for many years, having a huge amount of American customers who used Neteller to deposit and withdraw from gambling sites.

All of that changed in 2006 when the US Congress passed the Unlawful Internet Gambling Enforcement Act (UIGEA) which made online gambling in the US illegal. This led to Neteller having to ban all of their American customers and a huge decline in revenues. Neteller has been working hard to go back to their prior strength, which was partially succeeded after they became a payment method for the regulated market in New Jersey.

Optimal Payments, the company behind Neteller, has proposed an acquisition of their main rival Skrill for €1.1 billion. Skrill has a huge market share in Europe, where gamblers, traders and people who wants to transfer funds instantly use the service every single day, having around 35 million members according to their own numbers.

Should Neteller’s acquisition of Skrill be successful, they will become the second largest online wallet service provider in the world after PayPal and have more than 50 million customers worldwide. This will only be positive for the Bitcoin, as more people will be aware of the possibility to deposit to their online wallets complete free of fees through the Bitcoin.

This may lead to a demand increase for the Bitcoin and thus boost the value significantly over a longer period of time. With regular deposit methods costing up to 3.95% in fees, many will probably want to save those fees by using the Bitcoin to deposit with, as it can save large amounts for the average user every single year.

Bitcoin integrated as a payment method at Neteller
Bitcoin integrated as a payment method at Neteller

For those of you who aren’t completely familiar with what you can use Neteller for, it is basically an online wallet where you can hold funds that you can transfer instantly to other users of Neteller, use it to deposit and withdraw from gaming and trading sites as well as shop online with it. Furthermore they are one of the biggest processors of prepaid Mastercard’s in the world, working as a sort of online bank but without all the hassle.

The possibility to deposit with Bitcoins will make it so much easier to use Bitcoins every day, as you can easily deposit the Bitcoins at the daily exchange rate and use your Mastercard to go shopping, pay for bills or whatever else you would like to do. This also provides an opportunity to quickly exchange your coins for cash if you are looking to do so, without the hassle of having to go to an exchange site and wait for someone to buy it at the daily rate.

“Neteller already provides merchants and customers a broad and diverse set of online payment options and the addition of Bitcoin gives them another valuable payment method to help convert more transactions” said Joel Leonoff, president and CEO, Optimal Payments. “We recognise the important role that crypto-currencies play in the future of payments and we look forward to working with BitPay as the acceptance rate grows.”

“Bitcoin’s popularity is growing rapidly and has established itself as the most secure, most widely accepted digital currency” said Sonny Singh, chief operating officer, BitPay Inc. “This relationship with Optimal Payments will help us to drive merchant acceptance on a global scale.”

The only negative things so far in regards to the Bitcoin deposit method is that it will not be available for Americans just yet and the fact that you cannot withdraw to Bitcoins. Neteller will wait until there’s a regulatory framework in place for the different states before offering the possibility to deposit for them, but has not mentioned anything about the possibility of withdrawing in Bitcoins.

It may also lead to more competitors realizing the potential of the Bitcoin as a deposit method, which again would lead to more people knowing about the payment method. Overall this is a huge step in the right direction for the Bitcoin and it gives lots of hopes for the future.