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Bit.Store is expecting to become an indispensable tool for Bitcoin investors

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3 years ago

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With the global spread of the Covid pandemic, more countries or regions have gradually begun to suffer severe economic losses, which has slowed down the economic growth in many countries and increasingly caused serious inflation. Although most regions do not have as severe inflation as Venezuela, cash assets seem to be gradually depreciating at a remarkable rate.

Asset allocation has gradually become the most effective way to offset inflation. As the price of Bitcoin continues to rise and its market size continues to increase, Bitcoin as an emerging asset is gradually being accepted by traditional investors, and when compared to traditional assets such as stocks and bulk assets, Bitcoin seems more welcomed by investors. Although Bitcoin has aroused an investment boom, however for many novice investors, the threshold for obtaining Bitcoin is still very high. After all, traditional investors do not have that many channels to buy Bitcoin as easy as getting stocks and funds.

Among the platforms that support the direct purchase of bitcoins with fiat currencies, they mainly include CashApp, Paypal, and Bit.Store. First of all, from the perspective of regional characteristics, CashApp and Paypal are payment tools based on support from the North American market. Therefore in terms of user group, CashApp and Paypal are more inclined to become the hub for North American users to buy bitcoin, while Bit.Store is oriented to business operations in other markets, namely Southeast Asia and Europe. Bit.Store can provide users with easier entry and low-cost channels to obtain Bitcoin.

Many Bitcoin investors are excited at the emergence of Bit.Store, which literally builds a bridge between Bitcoin and fiat for convertibility. Therefore, Bit.Store is mainly for BTC investors or potential investments. Bitcoin, as a decentralized asset, is different from traditional assets such as stocks and it can be circulated out of the trading platforms, so any improper custody and storage of BTC assets may cause certain security problems.

When offering its service to users, the Bit.Store platform itself do not hold or help users keep BTCs, but it will entrust the BTC assets in Coinbase, the world’s largest cryptocurrency exchange, and in Cobo, the largest asset volume in Asia in terms of crypto wallet. As a professional crypto asset platform, Coinbase and Cobo own the expertise and experience in crypto asset management, which further ensures the security of investors’ BTC assets. Therefore, after users make the purchase of BTC through Bit.Store, the bitcoin assets are optionally stored in Coinbase or Cobo accounts. If the assets are lost in the process, the custodian will repay the full amount. Therefore, when you buy Bitcoin through Bit.Store, you have zero risk of capital loss before you fully withdraw your assets. Of course, for professional BTC investors, after the transaction through Bit.Store, they can withdraw the assets to their Bitcoin account at any time and keep them under their own control. There is no surcharge in buying bitcoin on Bit.Store, and the platform will only charge a 2% handling fee when you sell bitcoins.

In comparison, CashApp and Paypal also support the use of fiat currency to buy Bitcoin, and the channel is mainly built on their own payment business,  hence users need to pay a certain fee whether they buy or sell BTCs. As traditional Internet products, they habitually establish a strong concept as a “platform”. For example, after users buy bitcoins through the above-mentioned platforms, the bitcoins are actually stored in the platform, even the BTC users who deal through PayPal will never be able to withdraw the BTCs.

Therefore, to a certain extent, such an approach will mislead investors who may think that Bitcoin is no difference from traditional assets. Similarly, if the assets are too concentrated, there will be certain problems. For example, if the private key of the wallet on the platform is stolen, it may result in the user’s BTCs being stolen. After all, as a traditional platform, it has no actual experience of managing crypto assets such as Bitcoin. Once the asset security issues arise, users ultimately become the most vulnerable ones.

CashApp and Paypal, which represent the traditional Internet products, do not have operations and maintenance aimed at users. Therefore, in some ways, they are still staying at the level of traditional Internet operation thinking model. This approach seems to be undesirable for the crypto user groups. Based on further integration with the concept of the crypto community, Bit.Store establishes a user group, which is hopeful to form further fission centered for users.

At present, in terms of actual business progress, Bit.Store has come to partner with three global TOP exchanges and provided the users with its gateway services of BTC purchase with fiat currency. It has also partnered with one international bank and one international payment institution. To provide services to its bitcoin investors, Bit.Store is also constantly extending and broadening the user group.

In general, compared to CashApp and Paypal, Bit.Store embodies a more obvious advantage in products. The ecological concept built by Bit.Store is also in line with Bitcoin. Bit.Store may eventually become an indispensable tool for BTC investors.

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Alex Jacob

Alex Jacob is a literature author. He was born in Chicago. Alex passion is writing news articles. He writes number of articles and published it.

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Passive Viewers to Turn Active with Edge Video’s Real-time Scanning AI

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5 mins ago

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April 20, 2024

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The Hague, Netherlands, 19th April 2024, ZEX PR WIRE, As Edge Video, the Web3 gateway for FAST channels, approaches its TGE, more details about its AI technology have begun to emerge. Edge Video is focused on using artificial intelligence to improve the end-user experience by offering gamification and shopping experiences while rewarding viewers and connecting them to Web3 through the distribution of the $FAST token for ecosystem activities. It’s an AI-powered suite of gamification tools that connects any video stream to Web3. Users can scan a QR code to access Edge through a second screen. Based in the Netherlands, Edge is enhancing all content media to help drive additional revenue to FAST channels in its network.

AI-Powered Shopping

Edge Video AI uses proprietary in-house ML technology to deliver recommendations to viewers based on content happening on screen in real-time, providing high-engagement targeting of audiences with high click-through potential. These recommendations are synced to an eCommerce engine sourcing products from Edge’s network of partners including Amazon, Alibaba, Acer and more. The Edge Video AI is also responsible for the gamification that is a core driver of Edge’s unique experience. 

Gamification

Users watch a stream with Edge-enabled games, and quizzes, and compete for leadership points as they do, boosting engagement. Viewers play along with content by scanning a QR code with their second-screen device. The content for these quizzes, like the products, is derived from activity on-screen and fed to the device. It is the Edge Video AI that captures what’s happening and auto-produces games directly relatable to the content as it occurs. This keeps content ever-changing, even on stream reruns, and helps deliver a constant flow of interactivity for users. 

Point-to-Token Conversion Mechanism

Viewers earn Virtual Points, which can be converted to Edge’s ecosystem token, $FAST, a NEAR Protocol token, bridged to Polygon with a TGE slated for early May. $FAST tokens are used to purchase PPV content, movies, and products from the Edge ecosystem, all of which are accessed through the second screen device. 

Enhanced Opportunities for Content Creators

Edge wants broadcasters to see the value of enabling Edge on their streams and benefiting from the increased engagement and revenue that happens as a result. Because Edge can piggyback any stream without interfering with its core output except the single QR code, it means broadcasters can gamify and earn revenue from affiliate shopping recommendations at near-zero operational overhead to themselves, whilst simultaneously tapping into young, crypto-native, and crypto-curious audiences who are hungry for content that is more gamified and more rewarding.

Edge Video AI Founder Joe Ward shared: “The Edge Video AI turns passive viewers into active and boosts revenue for all FAST channels as a result. The era of AI-powered content with crypto reward mechanisms has arrived, and Edge Video helps any creator be there at the start of it.”

“For viewers, the Edge Video A.I. revolutionizes their experience. They want to play along and build rewards that they can then use directly for products that suit the content they are watching,’ – says Charles Myers, CTO of Edge Video AI, – ‘our AI advances content media and connects it to Web3 like never before.”

After the TGE, Edge will begin its rollout and viewers will start to be able to interact with the Edge Video AI and experience enhanced engagement. 

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XVC Tech Announces Strategic Investment in TradeTogether to Enhance Web3 Wealth Management

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5 mins ago

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April 20, 2024

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Dubai, UAE, 19th April 2024, ZEX PR WIRE, XVC Tech, has invested in TradeTogether, a leading Web3 wealth manager based in Singapore. The venture capital firm founded by the creators of the XDC Network blockchain.

XDC Network’s ecosystem includes RWA dApps focusing on Private Credit (TradeFinex), Trade Finance (XDC Trade Network), tokenized gold (Comtech Gold) and tokenized US Treasuries (Yieldteq powered by Tradeteq). 

Ritesh Kakkad, co-founder of XVC Tech, noted, “TradeTogether approached XVC with a strong emphasis on compliance, which is key in sectors like private credit and trade finance. We believe this focus on compliance will attract more institutional adoption, leading to increased utilization of the XDC Network’s use cases.”

Added TradeTogether’s CEO Geoff Ira, “XDC Network is a robust Enterprise-grade Layer 1 blockchain with a strong focus on Real-World Assets (RWA). We eagerly anticipate collaborating with XDC and its ecosystem of dApps to develop top-tier Web3-centric funds, driving intelligent capital into RWAs and Web3, while adhering to regulatory compliance standards.”

TradeTogether introduces two innovative investment options. 

  1. Firstly, the TradeTogether Bitcoin Advantage Fund, allows clients to invest in Bitcoin with added protection against market downturns, offering a better experience than traditional ETFs.
  2.  Additionally, TradeTogether provides high-net-worth individuals and financial institutions with transparent solutions in tokenized bonds and Web3 products for receivable financing, moving away from the DeFi platform model.

TradeTogether has prominent co-investors such as Orbit Startups, Tenity, Boleh Ventures and Leo Ventures. Other Angel investors who participated in TradeTogether’s funding round since it’s inception includes Samuel Rhee (Chairman of Endowus), Varun Mittal (Group Head Innovation  Singlife), Reuben Lai (Former Senior MD Grab Financial Group), Mx Kuok (KUOK Family), E. BABA de Rothschild (EGR Partners), Chandrima Das (Ex bento founder acquired by Grab), Nicolas Gallet (Gallet Capital), David Bachelier (CEO Asia at Flowdesk). 

About XVC Tech
Founded by the co-founders of XDC Network, Atul Khekade and Ritesh Kakkad, XVC Tech is a US $125mn Fund focussed on exploring investment opportunities in NextGen Technology Solutions. Portfolio companies include DeGaming, a decentralized i-gaming infrastructure protocol, Bolero, a platform fractionalizing IP of music assets via smart contracts or Truflation, an oracle for RWA, indexes and inflation.   

Current areas of focus include RWA, Web3 infrastructure, AI and DePIN. Are you a Web3 startup looking to make an impact? We’re actively seeking new investment opportunities. Visit us at XVC.Tech to learn more and get in touch!

About XDC Network
The XDC Network is an open-source, carbon-neutral, enterprise-grade, EVM-compatible, Layer 1 blockchain, operational since 2019 focusing on Enterprise use cases such as Trade Finance, Payment and RWA tokenization. More details at: Xinfin.org 

About TradeTogether
TradeTogether Pte Ltd is a pioneering Web3 digital asset management company based in Singapore. Operating under a regulatory exemption since October 25, 2021, TradeTogether is at the forefront of innovative financial solutions in the digital asset space. Led by CEO Geoff Ira, who has a strong background in the financial and banking industry. For more information, visit TradeTogether.com 

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Press Release

Indian Visa Document Requirements For Business Visa, Medical Visa And United States Citizens

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1 hour ago

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April 20, 2024

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INDIAN VISA DOCUMENT REQUIREMENTS

India has put in place a system which permits eligible travelers to access the country through an electronic visa. At present, an India e-Visa is accessible to individuals from 169 different countries. This plan aims to streamline the visa application procedure in order to draw in more international tourists. Before you travel to India, make sure to get an India e-Visa, which is a digital permit allowing you to visit for business, tourism, or medical reasons. In order to obtain an Indian e-Visa, applicants must submit the necessary documents and fulfill the specified criteria. The list of necessary documents is brief, and the e-Visa application simply asks for essential paperwork and process requirements. The paperwork requirements for various e-Visa kinds may range slightly. It is critical that the information provided during the eVisa India application process corresponds exactly to the passport that will be used to travel to and enter India. This is due to the fact that the approved eVisa India will be directly linked to it. Applicants will also be required to answer a few simple background questions during the application process to determine their eligibility to enter India. The questions will be about their current employment situation and their ability to support themselves financially during their stay in India. The India e-Visa Application is easy to complete. Travelers will need their passport, email address and a debit or credit card to complete the India e-Visa Application Form.

Types of India-Visa

  • India e-Tourist Visa
  • India e-Business Visa
  • Medical e-Visa for India
  • India Medical Attendant e-Visa

Documents Required for the Indian e-Visa

  • A Valid passport valid for at least 6 months on the expected date of arrival in India.
  • Passport-style photo of the applicant
  • A valid Email address to receive the Indian E-Visa in their Inbox.
  • You can use a Credit or debit card to pay for the eVisa fees.
  • Business cards copy and invitation letter – This requirement applies to people who want to go to India for business and need to apply for an Indian Business e-Visa.
  • Letter from the hospital in India – this is valid for people who apply for an Indian Medical e-Visa.

Indian visa validity and expiration

  • The 1 Month India Tourist Visa allows 2 entries into the country over the course of a month with a maximum stay of 30 days.
  • The 1-year India Tourist Visa allows multiple entries over the course of a year for a maximum stay of 90 days each.
  • The e-Medical Patient and e-Medical Attendant visas are valid for 30 days and can be used for first-time entry into India. The traveler can stay in the country for up to 60 days. You can also leave and return to India up to 2 times within this period.
  • The e-business visa allows multiple entries, with each visit not exceeding 180 days.

INDIAN VISA FOR UNITED STATES CITIZENS

When preparing for a journey to India, it is crucial for travelers to acquire a visa for entry into the nation. India has introduced an electronic visa system called Electronic Travel Authorization (ETA) since 2014, enabling citizens from more than 169 countries to seek visas over the internet. Travelers from the United States now have the option to obtain a short-stay e-Visa for trips to India. This electronic visa can be used by tourists, business travelers, and medical patients. American tourists are required to request a Tourist e-Visa in order to visit India for tourism and leisure purposes. Three tourist e-Visas in India differ in validity period and length of stay available. Visitors with a temporary tourist eVisa from the United States are allowed to remain in India for a maximum of 30 days upon arrival. This type cannot be modified or extended in any way. Business e-Visa: This sort of e-Visa permits Americans to enter India for the purpose of doing business or trading. You can stay in India for up to 365 days from the date of issue of the ETA and enter India as many times as you like. However, you may not stay here for more than 180 consecutive days on any one visit. Medical and Medical Assistant e-Visa: Americans who require medical treatment or are accompanying patients receiving treatment in India can apply for an e-Visa for Medical and Medical Assistant online. This type of e-Visa allows you to stay in India for up to 60 days from your arrival date and allows you to enter the country a total of three times. The India e-Visa makes it easy for American travelers to obtain visas to enter the country. American travelers need to meet some requirements to apply for India Visa online.

DOCUMENTS REQUIRED FOR INDIAN E-VISA FOR US CITIZENS

  • A valid Passport with at least six months’ validity from the expected date of arrival.
  • You can use a Debit or credit card to pay for the eVisa fees.
  • A valid Email address to receive the Indian e-Visa in their Inbox.
  • Full name (as it appears on your passport)
  • Passport Personal Details Scan
  • Last Page of Passport (if applicable)

INDIAN MEDICAL VISA

The e-Medical Visa is offered by the Indian government for those who are seeking medical care in the country. This eMedical Visa, also called an electronic India Medical Visa, can be obtained by travelers from more than 169 countries who wish to receive medical treatment in India. The e-Visa for India was introduced by the Government of India in November 2014 to provide an online visa option, removing the requirement to physically go to an embassy or consulate. Qualified individuals can acquire a sanctioned e-Visa for medical purposes by completing a basic internet application, enabling them to reside in India for a maximum of 60 continuous days. The India Medical e-Visa is a triple entry visa valid for 120 days from the date of issue. The second and third entries into India must be made within 60 days of the first. The requirements for the India Medical eVisa are the same as the Tourist eVisa. However, applicants must also provide a certified letter from the relevant Indian hospital or medical center.

REQUIREMENTS FOR MEDICAL VISA FOR INDIA

  • Applicants must have a passport issued by an eligible country to obtain the India e-Medical visa. This passport must be valid for a minimum of 6 months from the date the traveler intends to arrive in the country.
  • In addition, foreign nationals must provide a letter from the hospital in India where they will receive treatment.
  • Proof that they have the funds to cover their stay.
  • They must also have a return or onward ticket when applying.
  • A valid email address to receive the E-visa.
  • You can use a Credit/debit card or PayPal account to pay for the Medical E-Visa fees.

Registration

Anyone traveling to India on a “Medical Visa” must register with FRRO/FRO within 14 days of arrival. The registration process is the same in most countries.

INDIAN MEDICAL ATTENDANT VISA

The healthcare sector in India is growing. India is known for providing affordable healthcare for chronic diseases, including cancer, despite being relatively low-cost compared to industrialized nations. Relatives of patients going to India for medical care can request the Indian Physician Assistant Visa, also referred to as the Indian Electronic Attendant Visa. A Physician Assistant Visa is exclusively for relatives of patients undergoing treatment in India. A valid passport and a visa are necessary for traveling to India. A Medical Assistant Visa can be awarded to up to two people who accompany an e-Medical Visa holder to India for medical treatment. The visa is only valid for 60 days and cannot be renewed. Up to two family members of an e-Medical Visa holder may be awarded a Physician Assistant Visa. Medical assistant visas are valid for the same period of time as the e-Medical visa. The e-Medical Assistant Visa, once accepted, is valid for 60 days from the date of arrival into India. Holders may stay in the nation for this period or leave and return up to two more times throughout the 60-day period. An Electronic Physician Assistant Visa is available to foreign travellers three times a year. However, this type of visa can only be used to travel with someone who has an e-Medical Visa and is undergoing medical treatment in India. Visitors must complete an online application to obtain this type of visa. Applicants must also scan the biography page of their passport to successfully apply for the Physician Assistant Visa.

Requirements for the India Medical Attendant Visa

  • A valid passport issued by a country that is eligible to apply for an Indian e-Visa.
  • The passport must not expire until at least 6 months after the intended date of entry to India and must have a minimum of 2 blank pages for stamps.
  • Proof of sufficient funds to support themselves.
  • A return or onward ticket out of the country.
  • A valid email address to receive the E-visa.
  • You can use a Credit/debit card or PayPal account to pay for the E-Visa fees.

INDIAN BUSINESS VISA

If you plan on participating in commercial or business endeavors in India, you are required to submit an application for an India Business eVisa. This visa is suitable for individuals looking to launch a business, those who travel often for extended business trips, and investors. Citizens who qualify and visit India for business reasons, like attending conferences, workshops, symposiums, training courses, contract negotiations, or meetings, can apply for the India Business Visa. The e-Visa for India was introduced by the Government of India in November 2014, allowing individuals to apply for a visa online instead of having to go to an embassy or consulate. The India Business eVisa enables qualifying individuals to remain in the nation for a maximum of 180 days. This is a multi-entry travel permission that is valid for 365 days from the date of issuance. All types of India business visas including eVisa also allow the holder to set up a business in India, buy or sell industrial or commercial products and travel to India for recruitment purposes. Eligible citizens can apply by submitting a simple online business visa form for India that can be completed in just a few minutes.

DOCUMENTS REQUIRED FOR INDIAN BUSINESS E-VISA

  • A colored passport-size photo.
  • A valid passport that does not expire for at least 3-6 months is an absolute necessity and it should have at least 2 empty pages for stamping.
  • A valid email address to receive the E-Visa in your Inbox.
  • You can use a Credit/debit card or PayPal account to pay for the E-Visa fees.
  • A copy of your Business Card in PDF format (this must include your company’s information, especially the corporate phone number as you will be contacted through it by the embassy).
  • A detailed invitation letter from the host company/firm established in India or from India, stating the purpose of the travel (it must include their contact information and their logo).

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Cloud PR Wire

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Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No Digi Observer journalist was involved in the writing and production of this article.

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