InstantBuy Offers New Revenue Stream
Bitcoin and the broader digital asset market provides many assurances, but access to them is one of their weakest. InstantBuy expands access to crypto by offering non-intrusive tools to website owners. InstantBuy offers a new revenue stream options for website owners.
Most users are funneled into a handful of centralized exchanges to quickly buy/sell BTC or other leading digital assets. However, these exchanges often require onerous KYC/AML processes and a bank account — two characteristics not widely available in many regions of the world.
Capital controls, like the current situation in Lebanon, also curtail access to cryptocurrencies via government mandate. The only other semi-popular option is P2P exchanges. Although they have thin order books and complex user-interfaces. That’s why boosting access to Bitcoin and other digital assets is one of the foremost initiatives by many in the industry.
If and when the bulk of mainstream users come, they need to have direct, fast, and cheap access to cryptocurrencies. And prominent Bitcoin OTC firm, IBIS Brokers’ latest InstantBuy feature is an intriguing step forward for opening up access to cryptocurrencies.
A History of Access
The crypto market’s endeavors to broaden access to the world of uncensorable digital assets range from the clever to the bizarre.
Located in a country with stringent capital controls like Venezuela? Use LocalBitcoins to tap BTC as an intermediate financial vehicle for accessing USD or crypto-dollars (e.g., stablecoins).
Want to send Bitcoin without using the Internet? Send your precious BTC over high-frequency radio waves using GoTenna and Samourai Wallet.
Only want to exchange BTC physically like cash? Use OpenDime Bitcoin credit sticks, which function as bearer bonds for fixed sizes of BTC.
While the above methods are expanding the bridge to tapping cryptocurrencies, they often focus on niche cases in specific demographics. More broadly, access to cryptocurrencies needs to be more intuitive on the web and provide new revenue streams.
The problem is that many people are uncomfortable with onerous KYC/AML processes or don’t like the high fees associated with exchanges like Coinbase. Many also can’t access exchanges simply via regulatory-induced IP addressed moats. Similarly, the incentive for offering fiat-to-crypto gateway services as compared to solely crypto-to-crypto trading is low. Costs and risks are both high.
But IBIS Brokers may have found a promising solution to widening access to fiat-to-crypto gateways on the web — InstantBuy.
InstantBuy and A Clever Incentive
IBIS Brokers, one of Europe’s largest Bitcoin OTC desks, built InstantBuy. They solve the double-edge problem facing more intuitive crypto-to-fiat access on the web — incentive and availability.
InstantBuy offers a new revenue stream by empowering users to purchase over 50 crypto assets with a credit/debit card on a website. In fact, it can be any website.
“InstantBuy was developed in a manner that allows website owners to embed the trading module in their site by pasting a few lines of code,” says Jan Sammut, Founder of IBIS Brokers. “This essentially allows every crypto-related site to ‘become Coinbase’ and earn a percentage of all sales executed on their site.”
From a website operator’s perspective, especially if they’re crypto or finance-oriented, InstantBuy is a win-win.
“Cryptocurrency site owners have been limited in their monetization options,” continues Sammut. “Their two options being selling invasive banner space, or thinly veiled promotional content. Neither of them provides their audience with real value. From your audience’s perspective, buying cryptocurrency the first time is a difficult and complicated endeavor, and large segments of the market remain locked out due to their bank’s policies.”
InstantBuy side steps the availability and problems around a lack of banking infrastructure (or favor) for cryptocurrencies. While concurrently supplying website operators with a new revenue stream. At a high level, it’s a trivial method for monetizing cryptocurrency-based traffic. Website operators share in the trading commissions by simply pasting a few lines into their website’s code. Users are offered a fiat-to-crypto gateway on sites they regularly visit with minimal fees.
Fiat-to-crypto gateways are the most important junctures that bridge the legacy fiat world to cryptocurrencies. As far as expanding access to crypto on the web goes, InstantBuy is promising. Not to mention, it comes from a leading OTC Bitcoin broker with a trusted reputation and experience helping institutional clients trade in massive sums.
In a similar light, Brave Browser and Binance teamed up to embed a fiat-to-crypto gateway into Brave’s privacy-oriented browser for its ballooning number of users. However, their model does not reward or incentivize website operators. It is a one-way access point to buying/selling crypto directly in the browser. It’s also currently only available in the Nightly (the testing browser) version of Brave.
What’s evident is that granting better access to cryptocurrencies is an initiative taken up by a thriving market of startups and institutions. With an uncertain financial and economic backdrop drawing from COVID-19’s fallout effects, better access to cryptocurrencies, with new revenue streams like InstantBuy, may become a necessity for citizens in regions like Lebanon and Argentina.
Better to have multiple redundancies if centralized exchanges can’t unlock the floodgates of crypto access to the rest of the world. Then, maybe, access to Bitcoin won’t be one of its weakest assurances.
Launch of First Ever XDB/ZUSD Pairing Announced to Support Global Gaming Industry
The XDB Foundation has recently announced the first pairing of XDB with the new Zytara Dollar (ZUSD) on global cryptocurrency markets. The Biki cryptocurrency exchange will be one of the first platforms to provide access to the XDB/ZUSD trading pair.
“We are really excited to see the debut listing of the XDB/ZUSD trading pair,” says Michael Gord, the XDB Foundation’s Managing Director, “Asia-Pacific accounts for a significant portion of the global gaming community, almost 50%, and BiKi is perfectly situated to support this geography. We’re really happy to welcome them into our partnership ecosystem.”
The protocol layer blockchain DigitalBits is designed to support branded stablecoins and other branded currencies across a variety of use cases, offering crucial support to the global esports industry. The platform solves many of the issues involved in global tournament prize payouts, as well as enabling around the clock real-time payment transfers and global monetization of in-game currencies. Developers will also be able to create programmable incentives for gamers, therefore increasing fan engagement.
Issued by a regulated financial institution, the ZUSD is designed as currency for the future of the gaming and esports industry and beyond. The programmable dollar moves anywhere in the world at the speed of the Internet, and is redeemable…
XNO Token of Xeno NFT Hub listed on Bithumb Korea Exchange
Hong Kong, Hong Kong, 25th January, 2021, // ChainWire //
Xeno Holdings Limited (xno.live ), a blockchain solutions company based in Hong Kong, has announced the listing of its ecosystem utility token XNO on the ‘Bithumb Korea’ cryptocurrency exchange on January 21st 2021.
Xeno NFT Hub (market.xno.live ), developed by Xeno Holdings, enables easy minting of digital items into NFTs while also providing a marketplace where anyone can securely trade NFTs.
The Xeno NFT Hub project team includes former members of the technology project Yosemite X based in San Francisco and professionals such as Gabby Dizon who is a games industry expert and NFT space influencer based in Southeast Asia.
NFT(Non-Fungible Token) technology has recently gained huge focus in the blockchain arena and beyond, making waves in the online gaming sector, the art world, and the digital copyrights industry in recent years. The strongest feature of NFTs is that “NFTs are unique digital assets that cannot be replaced or forged”. Unlike fungible tokens such as Bitcoin or Ether, NFTs are not interchangeable for other tokens of the same type but instead each NFT has a unique value and specific information that cannot be replaced. This fact makes NFTs the perfect solution to record and prove ownership of digital and real-world items like works of art, game items, limited-edition collectibles, and more.
NFTs are already being actively traded in markets globally. For…
Should Crypto Projects Devote Resources to Community Growth and Marketing?
2020 has been an incredible year for crypto as investors have generated windfall profits and crypto projects have seen their businesses gain the spotlight they’ve been looking for. While Bitcoin has received most of the attention after major institutional investors announced they were accumulating the increasingly scarce asset, many altcoins have also seen their fair share of glory. When looking at all the big winners of the past year, the first project that probably comes to mind is Chainlink, having appreciated by more than 550% YTD and now valued at over $4.5 billion. But, the actual biggest winner of the year is HEX with a YTD return of over 5,000%.
I mention both of the above projects as they have each taken slightly different paths to achieve greatness. Chainlink has devoted resources toward building a fundamentally sound business with many strategic partnerships while HEX has spent vast sums of money on marketing and promotion. Both approaches are valid, but one thing is certain, it is absolutely imperative for crypto projects to let the crypto community know what makes them special. Of course, one of the reasons that makes crypto so valuable is the powerful blockchain technology that most projects are utilizing.
Cryptocurrency vs. Blockchain Technology
It’s important to make a distinction between blockchain technology and cryptocurrency. Although they are often used interchangeably, they are different. Blockchain technology and crypto were both created after the 2008 financial crisis, but cryptocurrency…