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Crypto on plastic: Mastercard supports new multi-currency crypto card announced by Wirex

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Mastercard

Breaking into new ground, Wirex is one the first of its kind, a cryptocurrency platform, that has been granted a Mastercard principal membership. The organizations together will release a brand new multi-currency card through their membership scheme. The London based crypto payment processor Wirex, which is regulated by the UK’s Financial Conduct Authority has also gained a license to issue crypto cards around Europe, taking crypto to new heights.  

Thanks to the Wirex card’s multi-currency nature, it will be supported by Mastercard and will be linked to a variety, 19 to be precise, crypto, and fiat currency accounts within the Wirex app. Although an official release date has not been issued yet, the excitement of such a card shows true movement toward generalizing the use of cryptocurrency for all, making it more accessible on a wider scale. 

The card is a bid in the attempt to encourage the use of cryptocurrency to be used for everyday payments. Wirex is also upgrading its existing rewards program enticing users to pay using crypto by offering a certain percentage back. For example, one of their rewards saw users get 1.5% back on each in-store transaction using Bitcoin. To make it more worth the users while, from now on, there will be a greater incentive in the form of 2% back on online and in-store purchases using Bitcoin, as well as up to 6% rewards on customers who are native to Wirex Token balance on an annual scheme. 

Bitcoin Transactions

(Graph showing the number of daily Bitcoin transactions. Source: Statista)

On the back of MasterCard offering the new multi-currency crypto card, Wirex is also bringing to market several other features. These include building on a partnership with payment solution company LHV. These new features, which now live in the European Economic Area include support for five new currencies which include, the Croatian Kuna, Polish Zloty, Czech Koruna Hungarian Forint, and Romanian leu. Supporting an array of currencies such as the ones stated above, the company is not only broadening their audience and reach but also helping to encourage the wider use of cryptocurrencies

One of the biggest driving forces behind including a range of currencies, both crypto and fiat are due to its popularity. Earlier, the platform hit over three million users, all of whom are active. Observing this proved to show a heightened adoption among mainstream users of crypto and those too who are not solid crypto users. This proves that even those who are not hardcore crypto users are beginning to take an interest. 

The services provided by Wirex will allow users in 130 countries to spend cryptocurrencies and fiat currencies using an existing dedicated Visa card and or your smartphone. Making life much easier and flexible for them. The multi-currency card shows strong signs of deepening the integration between the two worlds, plastic, and crypto. Both Mastercard and Visa show big promise moving forward in these areas and continue to establish a working relationship with prominent, game-changing firms. 

One of the first physical crypto cards was Coinbase’s card which was released in the US market, again supported by Mastercard and Visa payment networks. So Wirex will be the first of its kind to hit the European market and one which has both the collaboration and flexibility to be used for fiat or crypto.

MasterCard and Visa both seem to show an understanding of where to place emphasis and so are both working hard to try and get their networks working in the best way to support the future. With this in mind, MasterCard has actively sought out crypto exchanges and payment service providers to enlist in its very own and recently expanded cryptocurrency card program. Visa has also taken a keen interest as the organization is beginning to understand that crypto is gaining vast amounts of traction and if they do not begin to adopt and support it, they could miss out on huge potential.

There’s a lot to be said with how far cryptocurrencies have come and how many we now have available in comparison to when Bitcoin was first launched. The introduction of a multi-currency card also proved to us how both currencies can work in harmony together and that there is enough room in the market for both of them to be adopted by consumers, giving them the ability to pay and use them both equally.

Altcoins

My Crypto Heroes Announces Issuance of MCH Governance Token

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Tokyo, Japan, 24th November, 2020, // ChainWire //

My Crypto Heroes is happy to announce the issuance of MCH Coin as an incentive to players in the My Crypto Heroes ecosystem, aiming to allow them to craft a “User-oriented world”. The MCH coin is available on Uniswap with a newly created pool with ETH. 

My Crypto Heroes is a blockchain-based game for PC and Mobile. It allows users to collect historic heroes and raise them for battle in a Crypto World. Officially released on November 30th, 2018, MCH has recorded the most transactions and daily active users than any other blockchain game in the world.

What is MCH Coin?

MCH Coin is being issued as an ERC-20 Standard Governance Token. The issuance began on November 9th, 2020, with 50 million tokens issued.

Of the funds issued, 40% are allocated to a pay for on-going development and as rewards for advisors and early investors. 10% are allocated to marketing and the growth of the ecosystem, and 50% are allocated to the community. The Distribution Ratio of the MCH Coin is subject to change via a governance decision.

The MCH coin will be used as a voting right as part of the ecosystem’s governance, with 1 coin being 1 vote. It will also be used for in-game utilities and payments. Additional information can be found here:

https://medium.com/mycryptoheroes/new-ecosystem-with-mchcoin-en-a6a82494894f

During December 2020 the first governance…

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Altcoins

Rewards Platform StormX Offers 50% Crypto Cashback Bonus for Thanksgiving

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Singapore, Singapore, 23rd November, 2020, // ChainWire //

Blockchain-based rewards platform StormX has released a seasonal promotion for its award-winning Crypto Cash Back App. The promotion will allow app users to earn a 50% bonus on top of their cashback between Thanksgiving Day and Cyber Monday (November 26-30).

StormX has also introduced a brand-new staking service, allowing users to earn an additional 50% per year when they stake STMX tokens. The native ERC20 token of the StormX ecosystem, STMX has a total supply of 10 billion and is available to trade at many of the world’s top exchanges, including Binance and Bittrex.

“With Bitcoin’s price approaching its all-time high, interest in cryptocurrencies has renewed, though some people believe it’s now too expensive to buy in,” said StormX CEO and Co-Founder Simon Yu. “What we have done is create an easy way for such individuals to accumulate bitcoin, ethereum and other cryptocurrencies via everyday shopping.

“We’re also excited to provide users with the ability to earn greater rewards simply by staking their tokens.”

Since the StormX mobile app launched its Shop feature with over 700 stores in February 2020, some 400,000 unique users have been added to the rewards platform. StormX has also witnessed over 50% month-on-month growth for sales. The app is available for download on the App and Google Play Stores, and can be downloaded as a browser add-on from the Chrome Web…

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Currency Market

How PayPal Sparked The Next Crypto Gold Rush

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Bitcoin

The astounding thing about the world of cryptocurrencies is how fast things can move when there’s a catalyst for change. For Bitcoin, the world’s most famous cryptocurrency looked set to spend the final months of 2020 taking a back seat to the rapidly developing DeFi landscape. One PayPal announcement later and it’s closing in on its all-time high value

The 2020 crypto gold rush was sparked into life on October 21st when payment giant PayPal announced that they would be accommodating cryptocurrencies like Bitcoin, Ethereum, Litecoin and Bitcoin Cash – allowing its network of 286 million users to buy and sell cryptocurrency. The coins could then be used to make purchases from the 26 million sellers that accept PayPal, the organization announced. 

The notion of 286 million users suddenly gaining access to cryptocurrencies has prompted some enthusiasts and investors to believe that the world of crypto is on the precipice of arriving into mainstream usage. 

Bitcoin Price

(Image: CoinGecko)

As the chart above shows, in the 30 days that followed the PayPal announcement, the price of Bitcoin has climbed by an astonishing 53%. Continue Reading

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