NEW YORK, December 7, 2018 /PRNewswire/ --
After the meteoric rise of cryptocurrency circa late 2017, cryptocurrency prices have begun to settle. Despite the decline, the technology is still used in many applications. There are thousands of cryptocurrencies listed on cryptocurrency-supported exchanges and while many have different uses, most of them are being used primarily as payment solutions. Now, large players within the industry are looking to leverage cryptocurrency to develop payment gateways and platforms for payment processes. According to data compiled by MarketsandMarkets, the global cryptocurrency market is projected to reach USD 1.4 Billion by 2024 and grow at a CAGR of 6.18% during the forecast period of 2019 to 2024. The main growth drivers for the market can be attributed to the adoption of distributed ledger technology, high remittance in developing countries, high cost of cross-border remittance, fluctuations in monetary regulations and the growth in venture capital investments. Netcoins Holdings Inc. (OTC:GARLF), Oracle Corporation (NYSE:ORCL), Sony Corporation (NYSE:SNE), TD Ameritrade Holding Corporation (NASDAQ:AMTD), Bayerische Motoren Werke AG (OTC:BMWYY)
The payment solutions segment of the cryptocurrency market is expected to witness the highest growth during the forecast period. Cryptocurrency is preferred by some companies due to the technology they're built upon. They have certain advantages such as security, protection from fraud, a decentralized system, low fees, protection from chargebacks and quick international transfers. "It is possible that these payment apps will replace cards and cash, but different technologies will be successful in different markets," said Austin Kimm, Chief Operating Officer of Crypterium. "In China payments are now dominated by WeChat and Alipay, QR readers that when combined are now much more significant than cards or cash. What is unique is there is no restriction to younger more tech-savvy users, but reaches all age groups."
Netcoins Holdings Inc. (OTC:GARLF) is listed on the Canadian Securities Exchange under the ticker (CSE:NETC). Earlier this week, the Company announced, "two (2) important product introductions to complement our retail and OTC lines of business. Netcoins, effective today, is launching an automated Know-Your-Client ("KYC") product allowing our customers to create their own Netcoins account, and complete KYC registration for approved trading. Netcoins is also launching, in conjunction, its first self-serve crypto purchase portal enabling 20+ coins for direct fiat purchase, 24/7, online.
By automating KYC, which will approve customers for trading on both our OTC desk and self-serve portal, Netcoins will be able to scale at an ever increasing rate. With thousands of customers, Netcoins can now easily scale to millions with this key technology in place.
Further, the Netcoins portal is bringing the ability for our valued customers from our retail business and OTC desk to trade 24/7 direct from a fiat funded account. This account can be funded by email money transfer, wire, or voucher. This portal brings to market a very unique product for our altcoins, namely fiat purchase without having to first buy BTC or ETH, which is a typical requirement of online crypto exchanges. This platform will be white-label capable, allowing us to sell a "fiat to altcoin purchase portal" to the altcoin market.
About the Company: The Company is in the business of developing software to make the purchase and sale of cryptocurrency easily accessible to the mass consumer and investor through brokerage services. Netcoins enables crypto transactions via 171,000+ retail locations globally, a self-serve crypto purchase portal and an Over-The-Counter (OTC) trading desk."
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