The advent of blockchain and cryptocurrency has seen several industries disrupted like never before, including finance.
Notoriously resistant to change on any real scale, finance has always been seen as a tough industry to bring new ideas into, but blockchain has changed the game in many respects.
Today we’re seeing an influx of agile digital challengers to the established names that have dominated banking for so long.
Recently a report was published by consultancy company A.T. Kearney that claims “Not all banks will survive the tide of change as customers increasingly favor digital banks and innovative products and services.
“Branch closures are a short-term fix to steady the books, but it is not enough – traditional institutions need to consider strategic transformation to improve cost and top line and also offer more innovative products and services.”
In short, the world of banking is changing, and the following three startups are among the best crypto-friendly banking options for 2019.
Offering customers a VISA card available in three different currencies, Wirex has quickly established itself as one of the most recognized names in crypto finance.
Billed as “crypto and traditional currency accounts that put the power in your hands,” Wirex allows customers to take charge of their entire banking needs from one simple to use platform.
You can fund your account using a credit/debit card, bank transfer, or cryptocurrency, with ability to track payments.
One of Wirex’ unique selling points is the opportunity to earn ‘cryptoback’ by claiming 0.5 percent back in BTC every time you use your Wirex Visa card.
Offering both a virtual and physical bank card, ATRONOCOM provides customers with almost 40 million contact points all over the world where the card can be used.
With five currencies available, and the ability to both buy and sell crypto, with day trading and margin trading in the pipeline, ATRONOCOM really is providing users with a ‘one stop shop’ when it comes to their financial requirements.
The wildcard of sorts for those who opt for ATRONOCOM is the addition of a high-security communication messenger, that comes with connected wallet function. In the wake of the controversy surrounding the security levels of messaging services such as WhatsApp, this function is a welcome addition.
Offering users the opportunity to safely and efficiently buy cryptocurrencies at the touch of a button, Revolut is something of a pioneer when it comes to keeping things simple.
With five of the leading cryptocurrencies on offer, you can convert your fiat currency to Bitcoin, Litecoin, Ethereum, Bitcoin Cash, or XRP and receive rates and alerts in real time.
Customers can set up a bank account directly from their phone in a fraction of the time it would take to do so in-branch and can transfer money all over the world with the click of a button.
The report mentioned above suggests that we will see some pretty significant changes in how we carry out our banking within the next five years.
If those changes are anything like we’ve experienced to this point, we’re in for an exciting ride.
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.
Bitcoin Investors – Keep Your Eyes on Inheritance Tax
The IRS recently warned crypto investors to pay their bitcoin taxes or amend returns that have been misreported. By sending out warning letters, the IRS essentially put the magnifying glass on all crypto investors.
This magnifying glass is about to get even bigger following a recent court order delivered on August 26 by a Florida court. If you are a crypto enthusiast, then you have likely heard of Craig Wright, an Australian computer scientist who has attracted criticism over his claim that he is the mysterious bitcoin inventor, Satoshi Nakamoto.
Craig “Satoshi” Wright was sued by the estate of his former business partner, the late Dave Kleiman. Kleiman is a bitcoin pioneer who died in 2013. Before his death, Dave and Wright had allegedly mined over a million bitcoins together.
Craig Wright to hand over 500,000 BTC worth over $5 billion
In the August 26 order, Judge Bruce Reinhart of the Southern District Court of Florida said that Wright should hand over half of the bitcoin (BTC) that he and Dave had mined before the latter’s death.
That’s 50% of the 1.1 million bitcoins Craig Wright and Dave Kleiman allegedly mined together going to the plaintiff – Dave’s brother, Ira Kleiman. Ira…
How Will Mozilla’s Firefox Private Network Affect the VPN Market?
Mozilla announced earlier this month that its web browser, Firefox will block third-party trackers for everyone by default. And last week, the company announced another interesting product that could revolutionize the browser market.
The new product dubbed Firefox Private Network will act like a virtual private network (VPN) although the company thinks what it is building is something different from the conventional VPN. The new product is expected to give Firefox users more privacy online by providing an encrypted path to the web.
One major difference between the Firefox Private Network and the traditional VPN is that Mozilla’s product is web-based, which means you can only access its services when browsing the internet using the Firefox browser.
This presents an interesting challenge to other developers of web platforms including Google Chrome, Microsft Edge, and Apple’s Safari, among others. It also poses a potential threat to VPN service providers since this could be a substitute product to the already existing services.
The company recommends its new product to those using public Wi-Fi or those that want to hide from ad trackers. Nonetheless, this is not a comprehensive VPN service and will be a huge let-off for VPN providers.
In addition, while the service is available originally free on beta, Mozilla said that this is only for a limited time. So, clearly, a premium service will eventually replace the free pilot…
eToroX Review: A Top Cryptocurrency Exchange
eToroX is a digital assets exchange which features a cryptocurrency trading exchange as well as a crypto wallet. eToroX is created by the same group that operates the eToro forex and CFD social trading platform, but this Exchange is for trading, buying, selling and exchange of cryptocurrencies and blockchain-based/tokenized assets.
Regulation and Ownership
The crypto wallet and exchange services offered by eToroX (a company incorporated in Gibraltar and owned and operated by the eToro Group) are regulated by the Gibraltar Financial Services Commission. eToro X is a regulated DLT provider with licence number FSC1333B.
Two types of fees are incurred by eToroX users: exchange fees and wallet fees. Exchange fees relate to deposit/withdrawal transactions and charges on trading activity. eToroX does not charge for deposits. Trading fees are either maker (limit orders) or taker fees (market orders). Maker/taker fees are tiered and are adjusted by trading volume.