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Traditional Bank Swissquote Allows Lakediamond to Offer ICOs Directly

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Fiat-currency bank SwissQuote permitted an artificial diamond producing firm to offer Initial Coin Offerings (ICOs) on its platform to raise fresh capital.

That the Swiss are exceptional bankers was proven again on Thursday. Fiat-currency bank SwissQuote permitted an artificial diamond producing firm to offer Initial Coin Offerings (ICOs) on its platform to raise fresh capital to fund the purchase of new equipment.

The bank has used its website to attract customers along with educational information on “how to finance a start-up with an ICO.”  The banks also advertised the exclusive pre-sale of the tokens: 10% bonus along with ‘one’ free tokens for every ten tokens the investor purchase. The promotional offer is limited to the “first CHF 4’000’000 contributions only,” the website quotes. The Public ICO will begin only in next year, January 2019.

 

LakeDiamond and why is Swissquote backing it

At the heart of the unusual offer by the Swiss bank is the Swiss company – LakeDiamond. The company has been using cutting-edge technology to manufacture ultra-pure diamond using reactors useful especially for high-tech industrial purposes. The products by the LakeDiamond’s reactors are of high net value, and the company now needs to expand its production with new reactors and will also focus on improving production capacity.

The token that Lake Diamond will issue is called the LakeDiamond token (LKD) and will be based on blockchain technology. The token will provide “right of use” for growing diamonds and will also define the amount of time. The tokens will allow the first-time payment tokens for the production of these physical assets.

The token will have a value equivalent to “one minute of growth reactor operating time. It produces lab-grown diamonds. One minute is the smallest possible unit, so the tokens are non-divisible past this point. If a diamond plate takes 180.5 minutes to grow, it will consume 181 LKD.”

Currently, the LKD tokens are priced at 50 cents each. The supply of these tokens will be at 6.8 million. It can also be of use to the system for utility purposes.

SwissQuote has allowed the company to debut an ICO since it believes that the company has been following ‘ethics.’  The earlier round of abuse witnessed in diamond mining companies has been the backdrop for LakeDiamond.

 

Good Investment Opportunity

SwissQuote believes that this is an excellent investment opportunity and will benefit its partners as well. Hence, traditional banks are willing to explore new age economics in Switzerland. This is because of the rich banking culture of the country which allows executives of these banks to consider new age products and services and realign for their clients.

Their focus is on offering exclusive services, backed by their confidential services standards. The controversy concerning cryptocurrencies is their legal tender. Since the general condition in Switzerland is favorable in exploring the use of these non-fiats, the use of ICOs has been on the increase in this Alpine country.

Hence, when SwissQuote proposes to offer ICOs to its clientele, it is a next step in reiterating the traditional banking system which remains oriented to providing its clients the products and services they demand and will achieve a profit from. There is no question of considering ICOs as illegal tender in this case, and hence SwissQuote has been exceptional in serving its clientele.

#Bitcoin

Donald Trump policies push Mexico to Bitcoin

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Mexico has seen a new all-time high trading volume on localbitcoins. This comes out on the back of the announcement from the Trump Whitehouse.

Mexico has seen a new all-time high trading volume on localbitcoins. This comes out on the back of the announcement from the Trump Whitehouse that remittance payments of Mexican migrants in the United States of America will potentially be the target of new restrictions essentially ending the possibility of Mexican migrant workers to be able to cheaply send money back home to their families.

 

Mexico adopting Bitcoin:

Mexico has been experiencing a massive increase in the number of transactions on localbitcoins. Mexican migrant workers are believed to be exploited by the remittance companies which are charging around 10% fees. What is essentially being discussed here by the Trump Whitehouse is a new tax on these migrant workers. The number that they are currently floating around is a 3% tax on the remittances going from the USA to Mexico. This may not seem super crazy but considering the $33.4 billion which were sent to Mexico in 2018 alone, that extra 3% could mean $1 billion more per year for the United States government.

 

98% of the transactions that were sent during the last year, were sent via electronic means which means that there is actually a very strong remittance route that is ready for mass disruption going from the United States to Mexico and Bitcoin could be the perfect answer. However, the average size of a remittance payment from the United States to Mexico is $322 last year and the problem is that if the fees rise again exponentially on bitcoin, then bitcoin might not be the ideal cryptocurrency for these kinds of smaller remittance payments. Maybe we are going to see some other cryptocurrency being adopted in that situation. But regardless of which cryptocurrency is used, we can see that there is a clear need for disruption as government policies again seeks to impede or overly exploit the free float of money.

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#Bitcoin

Now Send & Receive Bitcoin and other Cryptos through Whatsapp

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People will very soon be able to transact cryptocurrencies such as Bitcoin through Whatsapp using a cryptocurrency wallet service developed by Wuabit.

It seems that the people will very soon be able to transact cryptocurrencies such as Bitcoin through Whatsapp using a cryptocurrency wallet service developed by Wuabit.

 

Send Bitcoin through Whatsapp:

The cryptocurrency wallet service by Wuabit will allow people to send, receive, trade, shop and access their cryptocurrencies using the Whatsapp messenger.

 

The Wuabit team also aims to add other social media platforms such as Telegram, Facebook and Viber to their supporting platforms. A publication by The Express, a local news outlet in Britain states that the beta version of the wallet service shall be available for the public from April.

 

According to Wuabit, Artificial Intelligence technology shall be a large part of the wallet service and people will be able to send, receive or trade cryptocurrencies by just typing messages such as “Send 0.2 BTC to John”.

 

According to Wuabit, they are a cryptocurrency wallet which is accessible through a chat interface. The publication on the official website of the company mentions the different security, privacy and the process through which people will be able to transact cryptocurrency.

 

A team member spoke to The Express stating that they will be starting off with Bitcoin only. People will be able to access the wallet service by Whatsapp, Telegram and even SMS.

 

The cryptocurrency payments through WhatsApp messenger which has a massive user base will be able to introduce the crypto space to a large number of people.

 

There are also rumors all around the cryptocurrency space that Facebook is soon going to launch its own cryptocurrency for the Whatsapp messenger for the users in India. Whatsapp is the most used messaging app in the country of over 1,3 billion people.

 

What are your thoughts on the Wuabit wallet service for Whatsapp and platforms? Do you think it will boost the adoption of cryptocurrencies? Tell us in the comments section below.

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Adoption

The Amazon of Switzerland: Digitec Galaxus now accepts Bitcoin.

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The biggest online retailer of Switzerland, Digitec Galaxus has now started to accept bitcoin along with other cryptos as a method of payment.

The biggest online retailer of Switzerland, Digitec Galaxus which is also known as the ‘Amazon of Switzerland’ has now started to accept bitcoin along with other cryptos as a method of payment.

 

Digitec Galaxus accepting cryptocurrency payments:

According to Digitec Galaxus, they were willing to integrate cryptocurrency payments on their platform for a long time. The users will now be able to make their payments using Bitcoin, Bitcoin Cash, Bitcoin SV, Ethereum, Ripple, Binance Coin, Litecoin, Tron, OmiseGo and NEO.

 

According to the Co-Founder Digitec Galaxus, Oliver Herren, Cryptocurrencies such as bitcoin are captivating and could very soon be an important method of payment for all ecommerce stores and they are happy to support it. He also said that people will pay using cryptocurrencies because the ones who own them are willing to use them somewhere, some are not being able to convert them into fiat currency because of banking regulations and others would just like to try latest things.

 

Digitec Galaxus also admitted that by integrating cryptocurrency payments, the company is going to showcase itself as a progressive brand.

 

Partnership with Coinify:

Digitec Galaxus has partnered with a third-party cryptocurrency payment processing company, Coinify. All the payments accepted through cryptocurrencies shall be instantly converted into fiat currency i.e. Swiss Franc. This would ensure that the cryptocurrency market volatility does not create an issue for the company.

Cryptocurrency payment method will be available only for Switzerland based users for now, although, the company plans to integrate the same soon for the users in Germany as well.

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