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Bitcoin fans have celebrated the tenth birthday of the digital heritage synonymous with cryptocurrency at the start of this year. Creator Satoshi Nakamoto published an online white paper on peer-to-peer virtual currency in 2008 and the rest is history.
It was a volatile year for Bitcoin, but the crypto-blue enthusiasts are a loyal group and get bogged down while the roller coaster ride continues.
READ: NetCents claims that direct commercial cryptocurrency records have more than tripled in the last quarter
The digital asset has its fair share of opponents from former Federal Reserve Chairman Janet Yellen to JPMorgan CEO Chase & Co (NYSE: JPM) Jamie Dimon.
One of the strongest complaints about cryptographic space is that digital resources are not really currencyary because they are hard to spend. What good is a currency that the average person can not use to buy something?
NetCents Technology Inc (CSE: NC) (OTCMKTS: NTTCF) has heard loud and clear complaints and has rolled up its sleeves to develop a platform that would have silenced them once and for all.
Solid foundation
CEO Clayton Moore, a 15-year payment space veteran, has just sold his Cybux company, a gift card platform focused on the service industry, when he founded NetCents in 2006.
"We were developing blockchain technology when people did not know what it was, or how it would change the fact that they were not even aware of the term," Moore said in an exclusive interview with Proactive Investors.
"We're not one of these new companies that just came out of nowhere in this latest big boom here to try and capitalize on this recent wave of blockchain interest, we've been around for a while and we've been through some waves of growth in space, "added Chief Revenue Officer Jenn Lowther.
Its user-friendly platform has been designed to facilitate secure cryptocurrency transactions between merchants and consumers, making it as easy as possible for all parties involved.
Traders can accept fiat, credit card or cryptocurrency and process the crypto-to-crypto or crypto-fiat chords.
NetCents describes its platform as a "cryptocurrency agnostic" as it is able to process any cryptocurrency.
The Vancouver-based company evaluates the cryptocurrency payment processing market for $ 228 billion.
Secure transactions
The Federal Deposit Insurance Corporation was founded in 1933 during the Great Depression, designed to restore economic stability and regain consumer confidence in the American banking system.
Consumers expect this level of protection and have been quick to point out where digital resources are lacking in the security department.
NetCents is integrated into the Automated Clearing House, an electronic network for financial transactions, and is registered as a Monetary Services Business with Financial Transactions and Canada's Analysis Center.
Traders are protected from the infamous market volatility associated with cryptocurrency through the ownership process of NetCents' instantaneous settlements.
READ: NetCents releases its first cryptocurrency payment processing platform based on SaaS
The sale price is guaranteed for merchants, blocking the cif-to-fiat exchange rate at the time of the transaction and allowing merchants to feel secure in accepting encryption online or in-store.
Traders also benefit from a low transaction fee, with savings of between 3% and 9%, company estimates.
On the flip side, consumers will soon have access to a cryptocurrency credit card that can be used anywhere Visa or MasterCard are accepted, giving them access to over 40 million merchants.
The card, which should come out in 2019, acts similarly to an eWallet, but consumers do not store coins on pre-loaded cards. Instead, the card is used to buy crypto at the market price.
It is designed to protect against volatility and can speed up transfer times compared to slower and legacy methods such as wire transfers.
Blockchain is not Bitcoin
Blockchain and Bitcoin are two of the most refined words in the encrypted space, but they are not the same thing.
"The correlation should never be between Bitcoin and blockchain, or the companies that are developing technology in space, Bitcoin is a currency, a currency," said Moore.
While the price of Bitcoin has fluctuated strongly, NetCents' business has remained stable.
Despite the bearish market of 2018, NetCents saw its direct trade negotiations more than triple, recording a 206% increase in the last quarter, for a total of 387 registrations.
"We have a growing number of companies, both partners and traders, who contact us directly," said Moore.
"With the increase in merchant registrations, the addition of key payment partners and key platform upgrades, we are ready for our expected growth in traders and revenue," he added.
Going forward
"The real tech community is now making gangsters on blockchain technologies and cryptocurrencies to develop the technology to make it easier, faster, faster and better.The next wave, every time this happens, will eclipse this last" said co-founder Fraser Macdougall.
In anticipation of continued growth, NetCents has recently launched its SaaS-based platform for merchants who want to add cryptocurrency processing to their platform.
NetCents plans to integrate merchant support for 60 countries and payment traders in more than 30 currencies.
Gaming and betting companies have been particularly receptive to NetCents technology.
NetCents has signed agreements with several companies of this type, including WildBunch Gaming and HubNet Media, which manages trading sites aimed at retailers.
Looking ahead, NetCents aims to gain ground in eSports spaces and online travel companies.
–Lenore Fedow contributed to this relationship
