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June 2011

NetCents Doubles Partnership Agreements in Six Months

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NetCents

NetCents

NetCents Technology Inc. (CSE:NC) (OTCQB:NTTCF) announced Wednesday that it is accelerating its pace for market adoption and integration through the sign on of its 40th partnership agreement.

Doubling its number of partnerships in just over six months reflects NetCent’s aggressive trajectory to accelerate its partner growth and keep pace with merchant adoption of cryptocurrency. It also demonstrates the increased willingness of merchants to adopt traditional payment alternatives by incorporating NetCent’s payment solution in-store, online, and within their POS systems.

“This accelerated partner growth continues to validate our business model and the future of the Company,” said NetCents founder and CEO Clayton Moore. “Whereas in 2018 and early 2019, we needed to actively sell our partners on the advantages of NetCents, we are now having major players in the payments space actively seek us out to allow them to offer cryptocurrency by embedding our Merchant Gateway within their technology, providing merchants a seamless experience and onboarding process for cryptocurrency payments.”

NetCents has embedded its cryptocurrency merchant gateway technology within all major traditional payment sectors through its partnerships with payment processors, merchant gateways, ISO’s, ISV’s, and terminal manufacturers.

This integration provides NetCents with a competitive market advantage of being the default cryptocurrency payment provider for merchants and also gives the company access to hundreds of additional partners, millions of merchants, and a sales force of thousands of agents who will sell the NetCents crypto Merchant Gateway to their existing merchant base.

Moore explained that the company is already seeing the early success of its partnership strategy come to fruition. In fact, NetCents signed on more merchants in the first week of September than it did in the entire month of May and has already experienced an average 95% monthly increase in merchant signups since May 2019, as well as a 39% increase in processing volume every month since February.

NetCents Develops Merchant Acquisition Plan to Enhance Partnership Program

NetCents also announced that it has begun its Merchant Acquisition Plan (MAP) to enhance its partnership program and keep up with the abundance of partnership agreements being inked. The goal of MAP is to add 15 enterprise merchant that process over $20 million USD per year in sales, with a monthly baseline of $100,000 cryptocurrency transactions.

To ensure its success, NetCents has assembled a team of industry-leading veterans to develop, launch and manage MAP. The team is focused on analyzing tens of thousands of businesses across North America, Australia, and Europe, ranking them against a scoring system, personalizing their outreach message by vertical or business, and launching an educational content program on market trends as well as the company’s products and programs.

Although the program launched less than a week ago, the MAP team has already reached out to 287 merchants who fit the selection criteria, with an initial 26% engagement rate. The campaign will continue to run through March 2020. During that time, the team expects to add an additional 100-300 merchants to its outreach queue on a weekly basis.

It will be exciting to see how many merchants will jump onboard from now until March and if the company will meet its acquisition goals.

Despite its accelerated growth strategy and partnership success, NetCents share price was down 10.71% by 4:00 pm EST on Wednesday.

Featured Image: Depositphotos ©pressmaster

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Coinbase Pro Increases Fees, Resumes Accepting GBP

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Coinbase

Coinbase

Coinbase has announced that it will increase fees on its Coinbase Pro platform as well as resuming support for UK deposits and withdrawals.

Coinbase Pro, the cryptocurrency exchange’s platform for professional and institutional traders, will adopt a new fee structure that will see an increase in fees on all transactions under $10,000 USD and between $10,000 USD and $50,000 USD. The new structure will see maker fees rise by 233% for the lowest tier of transactions, from 0.15% to 0.50%, while taker fees will go from 0.25% to 0.50%, an increase of 100%. The maker and taker model is a way to differentiate fees between trade orders that provide liquidity (maker orders) and take away liquidity (taker orders).

The new fee structure has caused outrage in the crypto community, with many users saying the only solution is to simply abandon Coinbase in favor of a rival platform, such as Kraken. One Reddit user stated“Meanwhile stock brokerages are all going fee-free.. I emailed support blasting them. If they don’t change, I’m going to Kraken,” while another said, “Conbase is the correct spelling.” Coinbase has said that the aim of the new fees is to increase the depth and liquidity of the market; however, some users have said the platform is continuing to favor big traders.

>> PayPal Might Quit Facebook’s Libra Project: Key Implications

Meanwhile, Coinbase has also announced that it has resumed support for the British pound sterling (GBP) following months of backup. Back in July, the exchange was dropped by British bank Barclay’s, a partnership that was once hailed as the most prestigious in crypto, after the bank lost its appetite for cryptocurrency. However, Coinbase UK was immediately picked up by ClearBank, a considerably smaller “challenger bank” in the UK.

Coinbase UK was unable to immediately recommence operations with ClearBank as it had to meet several requirements first, including the delisting of Zcash (ZEC). The exchange has also revealed that UK users will now be able to trade five new coins, including Ripple’s XRP.

Featured Image: DepositPhotos © dennizn

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Bitcoin Remains Stable | Crypto Market Capitalization Hits New High

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Bitcoin

Bitcoin

Over the last month, the cryptocurrency market was on a hot streak, rising about 38% as investors piled into crypto assets such as Bitcoin and other popular alternatives like Litecoin, Ripple’s XRP, Ethereum, Bitcoin Cash, and EOS.

Crypto Market Capitalization Hits New All-Time High

At the beginning of the month, Bitcoin (BTC) price surged, taking analysts and traders by surprise as to what might have caused the sudden increase in price. However, analysts are unsure whether the cryptocurrencies will hold their recent gains. But considering Bitcoin has managed to maintain the price above $5,000, it shows signs of strength that the growth will continue.

This week the crypto market capitalization of Bitcoin and another 2,000 cryptocurrencies hit $186 billion, an all-time high for this year. Apparently, Bitcoin makes up almost half of the crypto market capitalization, with over a $90 billion market cap. Crypto analysts have labeled the sudden rally as the ‘Altseason’ because of the double-digit gain made by the smaller cryptocurrencies.

Bitcoin will Exceed $20,000 Price in a Few Years

The recent rally has been seen by industry players as good news, and it is a result of various developments in the crypto industry. This week the price of cryptocurrencies continued to grow following the launch of the Coinbase crypto card in the UK. Also, most of the major cryptos maintained their strong positions because of bullish comments from analysts and industry watchers, which caused a surge in sentiments allowing the coins to maintain the high prices.

>> Coinbase Executive Leaves: 3 Major Departures in 6 Months

Brian Kelly of BKCM investment management firm stated that the price of Bitcoin will, in the next few years, exceed the 2017 all-time high of $20,000. He added that the growth of crypto networks and institutional adoption of cryptocurrencies will continue to push the price of cryptocurrencies higher in the coming years.

eToro market analyst, Mato Greenspan indicated that there was a step down in the crypto market after a breakout week. He added that failure to go up demonstrates the present appetite, but it does not mean that growth will decline.

Featured image: DepositPhotos @ Varavin88

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Binance Enters South Korea, Gets Approval for OkCoin

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Binance

Binance

The growth in the cryptocurrency industry has been made possible by the presence of crypto exchanges, and in that regard, Binance has been one of the most influential. In a new development that should come as a major boost to the crypto sphere, the crypto exchange announced that it is all set to launch its operations in South Korea.

Major Details

Binance acquired the Fintech company BxB Inc and is now going to turn it into a global exchange for South Korean customers by way of a cloud platform. This is a significant development for the company as well as for the crypto trading community in South Korea.

The exchange will be crypto to crypto in nature and will provide South Korean customers with the functionalities of Binance that have made it one of the most popular crypto exchanges in the world. The announcement was made by the Chief Executive Officer of the exchange, Changpeng Zhao, through a tweet. He said, “Hello South Korea.” Fiat deposits are going to be restricted at this point, but customers can use a stablecoin developed on Binance Chain to start their trading activities.

Removes 15 Trading Pairs

On March 27, the exchange made another important announcement that could have far-reaching effects on the crypto sphere. The company announced that it is going to remove 15 trading pairs from the platform in order to further improve liquidity and enhance the trading experience for users.

>> TRON Partners with Metal Pay to Enable Instant Purchase of TRX

Binance previously removed 10 trading pairs earlier in March. Exchanges are known to remove certain trading pairs when those pairs prove to be non-liquid. These non-liquid pairs generally involve altcoins that are not as frequently traded.

Are you excited for Binance’s move into the South Korean crypto market?

Featured image: DepositPhotos © Grey82

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