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Bitcoin (BTC) and Litecoin (LTC) adoption on the rise

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A famous New Jersey-based Italian eatery, Pompton Lakes, has opened its arms for Bitcoin and Litecoin payments.

When it comes to virtual currencies, many crypto pundits agree for these virtual assets to gain and appreciate, they need to be adopted and be put in use in the way they were designed to, and that is in transactions and exchange of coinage.

While this might not be the case for all digital currencies, some of the renowned virtual tokens like Bitcoin were originally considered as a means to transact between entities with the added advantage of convenience and privacy.

Sadly, even if virtual currency holders were willing to spend their digital assets on transfers and purchases, they would not find many appropriate occasions for doing so. That is why the latest news of an eatery starting to allow payments to be made in cryptocurrency is big news that is worth noting for investors.

Obviously, if more merchants and traders accept and adopt this mode of payment as an alternative to traditional modes of payment, the prices of Bitcoin, Litecoin, and virtual currencies in general, would be supported by real significant values.

Pompton Lakes Eatery Accepts Cryptocurrency Payments

Monica’s Restaurant is old but modern wine and dines eatery joint that is situated on Lakeside Avenue in Pompton Lakes in New Jersey. Recently, the Italian Restaurant came out to announce to the public that they now allow their clients to pay for their meals in virtual currencies as an alternative to fiat currencies.

Monica’s Restaurant sees this move as a marketing strategy that would entice a younger generation of customers to come and dine in their establishment. Patrons can now pay for their dishes in Bitcoin and Litecoin.

Irrespective of virtual currencies becoming far-reaching in the last few years, it is still the youthful tech-savvy generation who are mostly involved with these digital assets. An Italian eatery accepting payments in digital currencies such as Bitcoin and Litecoin could be too cool to miss checking it out for patrons who are into cryptocurrency.

Questions like, how will it work, is it for real? – are the type of questions that the restaurant is counting on to increase the flow of customers to their premises. Atila Ajdinovski, the owner and founder of the eatery mentioned:

“Right now, our clientele comprises of an older age group. We hope that by accepting cryptocurrency, it will bring in the younger crowd”

Are Cryptocurrency Payments the Future?

According to a high representative of payment processing firm Nationwide Merchant Solution, Jon Moore, Monica’s Restaurant is currently among the 20 New Jersey establishments that he has assisted in embracing virtual currency. Nationwide Merchant Solution is a payment processing company that helps customers in New Jersey to accept payments in virtual currencies.

At the moment, Jon has assisted more than 20 businesses in implementing cryptocurrency as a mode of payment in their businesses. According to Jon, many of these businesses that have adopted cryptocurrency operate in the e-commerce industry. He believes having an eatery accepting payments in Bitcoin and Litecoin is especially thrilling for crypto followers as it will bring attention to the virtual currencies from a new block of people.

Originally, e-commerce businesses offer cryptocurrency mode of payments to their customers who already know about cryptocurrency. However, restaurants, on the other hand, are displaying this information publicly for all visitors to see and get the news. This is helping in spreading cryptocurrency’s popularity and adoption process to the general public.

How to Pay for Food Using Bitcoin or Litecoin

The process of paying using virtual currencies in Monica’s restaurant is simple and easy to understand as it entails transferring digital money from one wallet to another. What happens is Monica’s restaurant displays a QR code to its patrons, who are given the option to scan the code and effect the payment. After completing the process, the restaurant is alerted of a Bitcoin or Litecoin payment that has been transferred into their respective wallet immediately, rendering the payment process complete.

The use of cryptocurrency is quickly gaining pace as a viable mode of payment in New Jersey and around the world. It is a mode of payment worth trying out (and sticking to).

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

Image courtesy of Pixabay

Bitcoin

Wisebitcoin Launches Professional-Grade Crypto Exchange

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Infrastructure is developing rapidly in the cryptocurrency industry, but the recent launch of the Wisebitcoin cryptocurrency exchange is nonetheless significant in terms of the immediate value it provides to cryptocurrency users. That’s because the exchange has had a beta version available since 2018 while continuing further developments in stealth mode, and already serves over 1.2 million end users with $6+ billion in 24 hour trading volume at the time of its official launch.

In addition to the large user base and deep liquidity, Wisebitcoin also stands out by offering up to 100x leverage to margin traders, with the ability to open a long or short position in their futures market. In the current bullish environment, leverage is a key way that experienced traders increase their exposure and try to profit from volatility.

For example, if a user opened a long position on ETH on January 2nd at a price of $750, they could have greatly multiplied their profits with even a small amount of leverage such as 5x as ETH reached over $1,100 within 48 hours. A simple unleveraged position would have netted $350 in profit, but a 5x position would have netted $1,750 and a 100x leveraged position would have netted an incredible $35,000 in profits from an initial investment of just $750. 

Beyond leverage, Wisebitcoin additionally offers a simple and…

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Bitcoin

ISW Holdings Continues to Transition Cash Assets into Bitcoin with $20K Purchase Ahead of Mining Launch

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ISW Holdings, Inc. (OTC: ISWH) (“ISW Holdings” or the “Company”), a global brand management holdings company, is pleased to announce that it is in the process of converting $20,000 of the Company’s cash holdings into Bitcoin. The Company also announces that it will be regularly conducting similar transactions on a quarterly basis to convert a percentage of cash flows into Bitcoin.

Management expects this transaction to be completed this week. The Company began transitioning cash resources into Bitcoin with an initial transaction in March 2019 at approximately $4,000/Bitcoin.

“We believe in the future of Bitcoin and digital payment systems, and cash represents an unproductive asset given the degree of monetary expansion, stimulus, and debt dragging down traditional currency systems,” commented Alonzo Pierce, President, and Chairman of ISW Holdings. “We are also on schedule to launch mining operations through our Pod5 solution at the Bit5ive renewable energy project by the end of January.” 

The Company formed a joint venture partnership with Bit5ive, LLC, (“Bit5ive”) in May to build and deliver an elegant, powerful, and efficient data center pod design. The Proceso Pod5ive Datacenter is the result. Designed in partnership with Bit5ive, and geared primarily for the cryptocurrency mining industry, the Proceso Pod5ive Datacenter offers next-generation dynamic self-management functionality, plug-and-play operation, virtually non-existent maintenance needs, and an industry best-in-class 1.06 Power Usage Effectiveness score.

The Company’s first mining pod is set to…

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Altcoins

XENO starts VIP NFT trading service and collaborates with contemporary artist Hiro Yamagata

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Hong Kong, Hong Kong, 24th December, 2020, // ChainWire //

The XENO NFT Hub (https://xno.live) will provide a crypto-powered digital items and collectables trading platform allowing users to create, buy, and sell NFTs. Additionally it will support auction based listings, governance and voting mechanisms, trade history tracking, user rating and other advanced features.

As a first step towards its fully comprehensive service, XENO NFT Hub launched a recent VIP service to select users and early adopters in December 2020 with plans for a full Public Beta to open in June 2021. 

“NFTs are extremely flexible in their usage, from digital event tickets to artwork, and while NFTs have a very wide spectrum of uses and categories XENO will initially focus its partnership efforts and its own item curation on three primary areas: gaming, sports & entertainment, and collectibles.”, said XENO NFT Hub president Anthony Di Franco.

He also added “This does not mean we will prohibit other types of NFTs from our ecosystem However, it simply means that XENO’s efforts as a company will be targeted into these verticals initially as a cohesive business approach.”

Development and Procurement Lead, Gabby Dizon explained, “Despite our initial focus, we found ourselves with a unique opportunity to host some of the works of Mr. Hiro Yamagata. We are collaborating with Japanese artist Hiro Yamagata to enshrine some of his artwork into NFTs.”

Mr. Yamagata has been…

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