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Skrill Joins the Cryptocurrency Trade

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Skrill

A popular mobile payment operator and an online wallet, Skrill, has decided to add buy and sell options for cryptocurrencies as its newest feature. The wallet will allow fiat-to-crypto trading, as a result of a new wave of crypto frenzy.

Skrill soon to feature crypto buying and selling options

A lot of people are already familiar with Skrill – a well-known payments service that is one of PayPal’s larger rivals. Skrill is also known for being a digital wallet, and a part of the Paysafe Group. Now, Skrill has made a large step forward by opening up to cryptocurrencies, at least to some extent.

According to new reports, Skrill has decided to add buying and selling options for cryptos within its platform. The payment service has decided to open up these options to users in 30 different countries. For now, the service is planning on supporting Bitcoin (BTC), Bitcoin Cash (BCH), Litecoin (LTC), and Ethereum (ETH).

To achieve this, Skrill launched Skrill Cryptocurrency Service via an exchange that was not yet revealed. This unknown exchange will be the crypto holder for Skrill. This is a bit of a negative news since it means that users will only be capable of selling and buying an interest in cryptos. As for the cryptos themselves, at this time, users will not be able to own them. This also means that paying with cryptos or sending crypto holdings will not be possible at first.

However, Skrill has stated that it plans to expand the possibilities of the service in the future, meaning that it is only a matter of time before these features actually become a reality.

Even though the service doesn’t allow the actual purchase and sale of cryptos as of yet, Skrill still mentioned the ease of use of the new features. In a recent press release, it was mentioned that the process is really simple and that it requires logging into the user account, choosing the ‘Exchange’ option, and that is it. The possibilities of selling, buying, or even just holding cryptos are only a few clicks away.

Lorenzo Pellegrino, the CEO of NETELLER and Skrill, stated that the crypto trading has become very dynamic and exciting. Because of that, the company’s wallet is practically lending itself to the crypto holders. Adding the possibility of buying and selling cryptos within the app itself will be more than appealing to customers interested in the new trend.

Additionally, Pellegrino stated that the company is convinced that the overall interest in cryptos is growing and that there are many users who would want to experiment with trading cryptos. However, their problem is that they don’t know where to start, and are in need of a simple and straightforward process, which is exactly what Skrill is bringing to them.

For now, the service is still in development, but it is expected to go live and join Skrill’s mobile app, as well as Paysafe’s NETELLER in a couple of months.

Financial services make a move on cryptos

It is interesting that the company has decided that now is the right time to make such a move, especially considering that a lot of other financial services are thinking of doing similar things. Interest in cryptos continues to grow, and financial institutions and services are realizing that joining the trend can be much more profitable than denying its existence.

Robinhood app, which has launched its Robinhood Crypto service, has been able to start expanding across the US immediately after raising up to $363 million. Baiju Bhatt, the firm’s CEO, stated that various sovereign nations will certainly start accepting cryptos before long. He even believes that cryptos will become default currencies for the world’s nations at some point in the future. This is why Robinhood, and others like this firm, are taking a lead. In fact, Robinhood is even discussing the possibility of offering full banking services, as some reports claim.

Similarly, the company called Circle, which is backed by Goldman Sachs itself, has purchased Poloniex earlier this year and has paid $400 million for it. Square Cash application has started providing its users with buying and selling options for Bitcoin, recently. Also, in May, CryptoGlobe issued a report in which it claims to have earned over $200,000 by providing crypto services. Not only that, but this amount comes without calculating the changing fees.

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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.

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Altcoins

XNO Token of Xeno NFT Hub listed on Bithumb Korea Exchange

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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…

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Altcoins

Should Crypto Projects Devote Resources to Community Growth and Marketing?

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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…

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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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