The painful crash of 2018 continues in the cryptocurrency world. Almost, all the cryptocurrencies have reached their lowest values. In spite of this, the buzz for cryptocurrencies still continues. Something new is happening in the crypto world with every passing moment. Earlier, we have heard the news of Samsung bringing crypto application in its upcoming beast Galaxy S10. Last week, we heard about Elipay, the crypto payment application.
Netcoin, a Canadian company, has launched an application portal for buying cryptocurrencies. This application allows users to buy more than 20 cryptocurrencies. It enables the users to buy these with fiat currencies. Earlier, users have to buy Bitcoin or Ethereum and used these to buy alt-coins. Through this app, they can now buy alt-coins with fiat currencies.
The service is operational 24/7 hours. This means that users can do transactions without any delay. This application portal differentiates Netcoin from other crypto trading platforms. This is because it is the first platform to buy cryptocurrencies by spending fiat currencies. They do not have to buy Bitcoin or Ethereum before purchasing alt-coins.
Netcoin has also introduced an automated KYC (Know Your Customer) product. This product makes it easy for the users to go through the registration process quickly. The company assures to complete the verification process within 24 hours.
Most of the crypto experts are of the view that this application will prove crucial for crypto enthusiasts. It will allow them to buy alt-coins fast than any other crypto trading platform. This is because they can skip many steps in the buying process of these coins. The customers with fiat currencies in their accounts can buy alt-coins from this platform.
If we compare this platform with other crypto trading platforms, we find following advantages.
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None of these facilities is available on other crypto trading platforms. Almost, all these platforms have slow turnaround time. Users have to buy either Bitcoin or Ethereum and then exchange these to buy alt-coins.
Here, it is pertinent to mention that the launch of this application will simplify the buying process of small coins. This is because the users will not have to look for various trading pairs. Instead, they can buy their favorite cryptocurrency by paying in their respective fiat currency.
Netcoin also plans to extend the reach of this application by the end of 2019. This means that users all over the world will be able to buy cryptocurrencies by spending their respective fiat currencies. Here, it is noteworthy that the platform is already running its retail network at 170,000 locations in 53 countries. All these stores offer users to buy cryptocurrencies by spending fiat currencies.
Portal application has saved the users from long and arduous registration process. Instead, they can purchase alt-coins by skipping many steps. The company is also offering ‘Virtual Crypto ATM’s to enable the users to convert their computers to digital cash machines.
Last year, Netcoin had announced to become a major player in the crypto payment processing platforms. This is why the worth of the company is increasing in spite of the downfall in cryptocurrency prices.
The company had disclosed its transaction revenues of Q4 2018 a few days ago. Figure showed that it had earned $20.4 million revenue. This allowed it to reach $44.6 million in a year. The company has recorded 400 percent growth in spite of fall in crypto prices.
Mark Binns, the CEO of Netcoins seems quite satisfied at the launch of this application. He says that automated KYC and self service purchase have helped the company to achieve scalability in the crypto world. Anyone can register and trade through this application which is still in beta form.
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