Bitcoin is a mainstream cryptocurrency, but the biggest obstacle is letting users buy Bitcoin securely with a debit card.
Most Bitcoin exchanges accept many payment options, except for credit/debit cards. The process to fund crypto is to wire transfer (3-5 business days), e-transfer (instant usually) or use a credit card to send your money to a 3rd party broker or a crypto institute. We aim to solve this problem by partnering with various exchanges and convert FIAT to crypto on the application easier and faster than ever before.
Here is how you can buy bitcoins on the BlockBanc app in a few simple steps.
Download the BlockBanc app and log in to the application.
You will find the Buy Crypto application right on the home screen. Tap on it.
Enter the type of crypto you want to purchase ( BTC or ETH, etc.) along with the amount in FIAT currency (USD).
Review carefully on the next page. Remember, the payment cannot be cancelled once it is processed on the user end. Tap on “Pay With Debit Card” once you have reviewed the page.
Fill in a few primary details and tap on “Continue to Payment.” You will be redirected to the payment processor next to collect card details and complete the payment.
That’s it! Once the payment is processed the BTC will show up in your wallet almost instantly.
Also, always remember
Never keep your bitcoins on the exchange. The only safe place for storing your bitcoins is a non-custodial wallet. With features like PIN lock, fingerprint recognition, wallet backup and email verification – TOTAL SAFETY is guaranteed on the BlockBanc app! Download the app NOW and store your bitcoins in it for complete peace of mind!
BlockBanc is a multi-protocol utility wallet that combines the power of decentralized and centralized technology in a simple & secure mobile application. This all-in-one application houses the tools and resources you require to enrich your knowledge about cryptocurrencies and become a successful crypto trader.
In this presentation, we will go through the three simple steps by which you can use the BlockBanc app to learn everything about cryptocurrency on a single page.
An encouraging trend has attracted much less attention amidst the COVID-19 crisis. Having banned crypto in the past, or refused to acknowledge them as money, various countries have suddenly started recognizing them in their financial laws and courts. This could well mark an important shift for them towards the mainstream.
The below presentation throws more light on the matter.
Syscoin is a powerful platform that can help to put your business on the blockchain. It is a blockchain protocol accompanied by powerful core features allowing you to build fast, secure, low-cost applications with ease, with the security and strength of Bitcoin.
Know more about Syscoin in the detailed infographic below.
Know more about cryptocurrencies. Download the app now!
As you already know, Bitcoin is a decentralized, peer-to-peer cryptosystem designed to allow online users to process transactions through digital units of exchange: bitcoins (BTC).
Bitcoins are not issued by a central bank or government system like fiat currencies. Rather, bitcoins are either “mined” by a computer through a process of solving increasingly complex mathematical algorithms in order to verify transaction blocks to be added to the blockchain.
Now that we have seen a brief overview of bitcoins, let’s see how they can provide potential benefits to users. This PPT can throw more light on the matter.
You can obtain bitcoins in several ways, each one being completely different from each other. It’s also very important for you to know that bitcoins can be sent very easily from one individual to another. As a result, they take the form of a highly transferable product.
Now let’s take a look at some easy ways to get bitcoins.
The incredibly inexpensive days of bitcoin mining, which only lasted a few years, were days when bitcoin was so cheap that it made financial sense to mine it at a very low cost instead of buying it.
Today, bitcoin mining is still a viable option, but different steps need to be taken in order to properly exploit the current difficulty level.
BTC mining requires specialized equipment that performs the extremely fast calculations necessary for bitcoin mining. The total power of all miners, or the hashrate is so important that the material found in average computers (or any computer, for that matter) cannot perform the data mining calculations quickly enough to produce significant results. A specialized hardware is required which is known as ASIC or Application Specific Integrated Circuit.
Exchanges are by far the most common way to get bitcoins. Exchanges are platforms that allow users to buy cryptocurrencies for another means of exchange, usually a fiat currency.
Exchanges do this via an order book or a general ledger which corresponds to the buying or selling instructions. These instructions are called “auctions” and “requests”, respectively.
Note: After purchase, make sure you don’t keep your bitcoins on the exchange. Make sure to transfer them to a safe and secure encrypted wallet like AiBB.
Earning bitcoins in exchange for goods and services
It is an option which is just as feasible as mining or investing in digital currency. There are certain businesses allowing people to earn BTCs in exchange for their services.
These businesses typically including some freelancing job sites where BTCs are paid to people, as well as companies that collect BTC by accepting it as a means of payment.
Earning bitcoin, in some cases, can be the most convenient option for someone with a running business. No real transition is necessary for companies to undergo to earn bitcoin. You can even just add your bitcoin wallet address to an invoice to accept payments in BTCs.
Bitcoin ATMs (BATM) are kiosks that look like traditional ATMs, but instead of connecting to a bank account, they connect to the Internet and allow cash and credit card transactions for bitcoin. Some BATMs offer two-way functionality, which allows users to buy and sell bitcoins through the kiosk.
BATMs now require some sort of an identity verification like KYC / AML information before finalizing a transaction, so users must be ready to scan their credentials into the machine. Common BATM locations include retail stores, stores, bars, restaurants, malls, and airports.
To know more about bitcoins and other cryptocurrencies, download the AiBB app and go to the “learn” section to access everything on a single page.
Ethereum is a public, open source, blockchain-based distributed computing platform and operating system featuring smart contract functionality. And, Ether is the cryptocurrency generated by the Ethereum platform. AiBB presents a few basic facts about Ethereum that you may not know.
Bitcoin is the most popular crypto investment asset pulling in substantial annual returns in the long run.
At the same time, it is also widely used as digital money. Here are a few interesting things you probably didn’t know you can do with Bitcoin.
Bitcoin, the mysterious “money of the internet” has steadily risen in popularity over the last 8 years and is still rightfully considered the undisputed king of cryptocurrencies. AiBB has come up with an infographic highlighting a few basic bitcoin facts that you may not even know.
Litecoin (LTC) is one of the most prominent digital assets in the crypto market. Created by Charlie Lee in 2011, Litecoin is considered the silver to BTC’s gold.
How does LTC work?
Lee released Litecoin after the creation of his own digital asset known as Fairbix. Fairbix failed, but Litecoin managed to attract the attention of many people. Even though Litecoin had many similarities to bitcoin, it also had some notable differences.
Litecoin was released as an open-source client on GitHub on October 7, 2011. A few days later, Litecoin became operational.
In comparison to Bitcoin, Litecoin has an algorithm called Scrypt, a total supply of 84 million, and blocks of 2.5 minutes. On the other hand, bitcoin has a data mining algorithm called SHA-256, a total supply of 21 million, and a block time of 10 minutes.
Although Bitcoin and Litecoin work similarly, Litecoin lags behind in terms of halves. Bitcoin will experience its 3rd reduction by half next year and Litecoin experienced its 2nd block reward reduction.
Every 4 years, Litecoin and Bitcoin experience a brief reduction in rewards as received by miners, which is one of the most important attributes of some cryptocurrencies.
With lower issuance and increased demand for digital currency, the price of virtual currency is expected to rise faster in the event of a market demand shock. There will be fewer LTCs available to minors on the market for more investors.
Litecoin has also implemented atomic swaps, which allow individuals to exchange coins between chains without having to depend on a third party.
Speed and Transaction Costs
Litecoin has improved transaction speeds in comparison to Bitcoin and it also works for cheaper fees. Litecoin blocking times tend to be close to 2.5 minutes, fluctuating in a narrow range between 2.2 and 2.75 mins. This is exceptionally useful for almost all merchants and ones who accept Litecoin will receive their digital assets in just five minutes.
Litecoin exhibits this advantage over Bitcoin. Bitcoin requires ten minutes to receive a single confirmation. In addition, the fees paid by users are much cheaper than on the Bitcoin network. Average LTC transaction fees are currently $ 0.059, while Bitcoin has average transaction fees of $ 1.54.
In addition, Litecoin is also one of the most liquid digital currencies on the market. It is possible to buy or sell it on different exchanges around the world quickly and securely.
To be able to increase the number of transactions that the network can handle, Litecoin introduced SegWit (Segregated Witness), which allows transactions to be smaller, resulting in more space per block.
Although digital currency offers fast and cheap transactions, the developers of Charlie Lee and Litecoin had to work to be able to avoid the flood attacks. These attacks are linked to a malicious entity which processes several transactions to clutter the network. This increases costs and also slows the entire network.