Bitcoin has gained the greatest traction within the tech and financially savvy community. One of the reasons behind this is the perception that dealing with it is too intimidating and complicated for everyone else. As a result, there are a good number of individuals who would like to join the cryptocurrency bandwagon but hold back.
Many cite the lengthy processes required to create an account at a cryptocurrency exchange as a major challenge on the road to their first bitcoin purchase. On most exchanges, extensive paperwork is required to verify identity. There are also challenges with complex user interfaces, high transaction fees, and poor customer support. The risk of malicious attacks and the subsequent possibility of losing all holdings is yet another hurdle that crypto users have to contend with.
K-USB’s Answers to Crypto Purchase Challenges
A new startup known as K-USB claims to have the objective of making crypto available to the non-techie population by offering the easiest way to purchase BTC and ETH.
It is offering bitcoin gift cards as a simplified alternative to acquiring cryptocurrencies. Its bitcoin gift card purchase is comparable to that of buying a VISA gift card. Unlike most other methods of crypto purchase, this one does not require any activation process or exchange fee.
Orders can be placed using a credit card or PayPal account, and the 16GB Crypto USB stick can be delivered to any location worldwide.
Purchases are made online by selecting your choice of digital currency from the available options. Though the options are currently limited to Ethereum and Bitcoin, the company plans to expand its offerings in the future to include additional altcoins.
Current Price Lock-in
Once you select the crypto-coin of your choice, you immediately lock in the real-time price at that moment. Among the top highlights of the method is the fact that purchased funds are transferred to a USB hardware wallet. This is made possible by the creation of a wallet and inclusion of a crypto voucher.
Hardware wallets are considered one of the safest options for crypto users. They keep funds offline in cold storage and are therefore inaccessible to hackers. Additionally, this type of wallet does not require any computer downloads. Instead, it offers an easy and convenient plug-and-play option.
After the purchase, a buyer will receive a confirmation email message showing the gift card amount and the security code. The company then sends the hardware wallet physically to the bitcoin buyer.
Compatible with Windows and Mac operating systems, the wallet can be accessed on most PCs to view or redeem the crypto voucher. Simply enter the redemption code when prompted to access the wallet. In order to activate the code, a buyer needs to connect the device to a PC with internet connection and follow an intuitive set of prompts.
Once redeemed, the device will function like any other cryptocurrency wallet allowing you to make same crypto deposits and withdrawals with ease. When not in use, you can store the device in a safety deposit box or any other secure place. Moreover, there is no expiry date for the gift voucher and as such, it can be redeemed at any convenient time.
Every device comes with a set of instructions. One of the most important ones is the requirement to write down the wallet’s private key and store it separately from the device. The essence of it is so that if the device is misplaced or gets lost, you can use the key to access your funds again.
No Exchange Fees
Current pricing for the purchase is $200. Most crypto purchase platforms are known to charge exchange fees which vary depending on the platform and the crypto-coin in question while K-USB only charges for the hardware wallet.
For purchasers, therefore, this means that one receives $200 worth of crypto, less the cost of the device ($30) and network fees. Network fees apply for all blockchain transaction facilitating the transfer of crypto coins from one wallet to another. They vary from one network to the next and depend on the level of traffic. But they usually will not exceed a few dollars.
Could this perhaps be the long-awaited answer to the non-tech savvy crypto enthusiasts hoping to join the bandwagon? If you have always wanted to buy crypto but thought the process was too complicated, this might be the perfect solution! For more information, check out the website.
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.
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SEC Postpones Bitcoin ETF Decision Once Again
The new announcement by the US SEC (Securities and Exchange Commission) states that the decision regarding the potential approval of several applications for a Bitcoin ETF (exchange-traded funds) is once again postponed. This time, the SEC declared that the decision will be made by February 27th, 2019.
The application requesting that VanExk SolidX BTC fund get s listed on Cboe BZx Exchange that was published on July 2nd needs to be given order by the commission within 180 days. Originally, the deadline for doing so was December 29th. However, the SEC decided to extend the period for another 60 days, effectively moving it to February 27th.
The SEC stated that designating a longer period for making a decision was found appropriate, as more time is needed in order to properly consider the rule change.
Cryptocurrencies need a sufficient monitoring mechanism, claims SEC chairman
Recent reports claim that the SEC received over 1,600 comments after requesting the public opinion regarding the ETF applications issue. In the past, the SEC rejected many such applications, some of which were even submitted by SolidX itself. In addition, they also rejected the applications submitted by Gemini, the exchange owned by Winklevoss twins. Brothers were attempting to gain ETF approval ever since 2013, although to no avail.
Other applications were also submitted by Direxion, ProShares, as well as GraniteShares. The SEC rejected them…
What to Expect in 2019: BTC, BAT, and Steem
There are only a few weeks of 2018 left, and considering how bearish and crypto-unfriendly this year was, a lot of investors will likely be pleased to see it gone. Many believe that 2019 will be the year that will correct BTC prices and bring forth the period of great recovery.
But what does that mean for digital currencies? Which ones are a good investment right now? This is something that we will, hopefully, be able to answer right now. Here are the top 3 coins that everyone should keep an eye on in 2019.
1. Bitcoin (BTC)
Of course, we have to start with Bitcoin, the first and largest cryptocurrency. Bitcoin has lost a lot in 2018, and its losses are unparalleled by any other coin. In fact, in terms of market cap, Bitcoin has lost as much as the rest of the crypto market put together.
Many believe that its rapid growth, which started in late 2017 and has brought it to its all-time high, is responsible. That the bearish 2018 was only a one large price correction of the last year’s price surge. Even if this is true, price corrections, luckily, all end sooner or later, and when this one comes to a close, Bitcoin will likely be ready for a big comeback.
2019 is expected to bring a lot that will serve BTC’s…
The Three Biggest Problems with Crypto
In this bear market, everybody’s asking the same questions. Why is Bitcoin falling? When will the market turn around? Is this the end of the crypto boom?
However, before we can answer questions like these, we need to step back and do an honest appraisal of where our industry stands and what is really holding it back. Despite its growing popularity, cryptocurrency still struggles to gain mainstream appeal. While crypto has managed to distance itself from the early days, when it was used to buy illegal goods online, the currency still conjures up negative feelings for a lot of people unfamiliar with the technology — and all too often, for good reasons.
Cryptocurrency is still relatively new, which means that many casual users are still exploring different ways to use crypto in their day-to-day lives. Unfortunately, this lack of knowledge leaves a lot of users vulnerable to scammers seeking to take advantage of their ignorance and inexperience.
We’ve contacted various types of people within the crypto community, surveying newbies, traders, investors, and professionals, asking what the biggest problems in crypto are. We found there to be three major problems holding the industry back:
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