Neteller steps into the future with support for cryptocurrencies

Bitcoin logo

Digital wallet and online payment provider Neteller is a slick, practical and popular payment solution for online purchases. Anyone who loves the instant gratification associated with Neteller-powered shopping, gaming, travelling and entertainment will be delighted to learn the innovative company has leapt into the future by enabling cryptocurrency trading.

Bitcoin logo

At online casinos, you’ll probably know that the collaboration between Neteller and Bitcoin has spawned a new generation of gamers who prefer the anonymity of wagering on slots and table games using crypto cash. Elsewhere in cyberspace, the connect between the nifty little ewallet and crypto opened up a world of on-demand opportunity that’s secure, discrete and functional. 
 
That’s all old news.  Tech is constantly evolving. What was hot yesterday is passé today and that applies to the first iteration of the crypto and Neteller marriage. Why?  Well, until very recently, gambling, shopping and booking hotel rooms, cars and flight reservations in Bitcoin meant setting up a BTC account and connecting it with a Neteller account. Funds then had to be transferred from one account to the other, a process that may be seriously super-quick but one that still nibbles away into one of the most precious commodities we are loathe to waste – time.

Neteller Predicts Big Things for Crypto in the Marketplace
Now, all that’s changed. The talking heads at Neteller have recognised the potential of crypto in the marketplace and have integrated a crypto to multi-currency conversion platform into the mix. All Neteller clients have to do is log into their account, select crypto as an option and convert legal tenders, like Australian, Candian and US dollars, Euros, British pounds, Japanese yen, Brazilian reals, and Swiss francs into a selection of cryptocurrencies – all within the Neteller app!

What that means is you can instantly convert one of 28 fiat currencies – that’s tech speak for paper money – into Bitcoin, Bitcoin Cash, Ethereum, Ethereum Classic and Litecoin without having to do it through a recognised exchange. How cool is that!  The transaction is still conducted via a cryptocurrency exchange but by Neteller instead of the individual, which, of course, means time and money savings!

Related Post:  A beginner’s guide to Ethereum tokens

I can hear a few of you saying, what’s the point? The Bitcoin bubble has burst, governments and legislators are wary of crypto and, for all intents and purposes, the future of virtual currencies looks bleak. If that’s the full story, why is a payment giant like Neteller throwing its formidable weight behind crypto?

Post-Bitcoin Bubble: What’s the Future of Crypto?
According to crypto pundits, the adoption of virtual cash is going to start with a vengeance in 2019 and beyond. Instead of acting like ‘oh wow’ investment vehicles that create billionaires at the drop of a hat, crypto is going to do what it was designed to do – become the centre pin of high-quality payment focused projects.

Speculative tokens that were effectively behind the big black bear market – or should we say grizzly bear market – are no longer going to be the focus of the industry. Instead, time, money and resources are going to be funnelled into projects with real use cases. In short, crypto is going serious, and by going serious, the blockchain-based space is going to enjoy the widespread appeal of a public that has not only doubted the efficacy of crypto but has been badly burnt by overhyped and overvalued IPOs and investments.

If crypto payments are to enjoy the kind of universal adoption they need, key challenges have to be addressed. Ideally, users want to be able to make crypto to crypto payments and exchanges without losing tons of time and money due to wildly fluctuating exchange rates, hefty tax liabilities, logging in, entering data and waiting for transaction confirmations.
 
All Hail The Lightning Network
Fortunately, the best blockchain brains are hard at work coming up with viable solutions. Hurdles, like exchanging different cryptocurrencies when making payments and transferring different tokens across different blockchains, is already being addressed by the likes of Bitcoin’s Lightning Network.
  
What is Lightning Network? According to the official website, it’s a “decentralised network using smart contract functionality in the blockchain to drive instant payments across a network of participants”. Along with lightning-fast transactions at a pace and scale of literally millions of transactions per second, bitcoin’s game-changing payment network is integrated into downloadable wallets and is easy to use. Transactions are virtually free and the network supports micropayments that’ll allow users to pay for small-bit items and services like news per article, videos per second and work per minute.

Related Post:  A concise introduction to Bitcoin

Bitcoin Transactions – Faster, Smaller and More Decentralised
In addition to micro-payment support, the network creates smaller bitcoin blocks which in turn allow more users to self-authenticate transactions, run a full node, enforce BTC rules and maintain a decentralised network.  With these sorts of exciting innovations in-play, crypto payments are slick, streamlined and quick; elements that even the most dated users will find hugely advantageous.

This is only the beginning of creating a more authentic crypto-payment project that can be adopted on a massive institutional scale, And when that happens, Neteller will be well positioned to lap up the proceeds in terms of fees, notwithstanding how infinitesimal they’ll be for the end user.

This article has been published in accordance with LinuxBSDos.com’s disclosure policy.

Share:

Share on facebook
Facebook
Share on twitter
Twitter
Share on pinterest
Pinterest
Share on linkedin
LinkedIn

Hola! Did you notice that LinuxBSDos.com no longer run network ads?  Yep, no more ads from the usual suspects that track and annoy you across the Internet. But since I still need to pay to keep the site running, feel free to make a small donation by PayPal or your favorite cryptocurrency.

  • Bitcoin
  • Ethereum
  • Xrp
  • Bitcoin cash
  • Bitcoin sv
  • Litecoin
  • Binance coin
  • Cardano
  • Ethereum classic
Scan to Donate Bitcoin to bc1qzvlte2m224zkayhdc7fdfjkp2rsgt0l5a496ua

Donate Bitcoin to this address

Scan the QR code or copy the address below into your wallet to send some Bitcoin

Scan to Donate Ethereum to 0x0F4362DFF77F3Ba0Dc637F5f3Eba35D09a2fA60C

Donate Ethereum to this address

Scan the QR code or copy the address below into your wallet to send some Ethereum

Scan to Donate Xrp to r4ggjvL36njsMCYTkJ3S7cTHscPsMsSGQv

Donate Xrp to this address

Scan the QR code or copy the address below into your wallet to send some Xrp

Scan to Donate Bitcoin cash to qrs0dedzp9t55af3nfwypydghp29r0xguy9s20fz2k

Donate Bitcoin cash to this address

Scan the QR code or copy the address below into your wallet to send some Bitcoin cash

Scan to Donate Bitcoin sv to 15K9TLyVDBtLuG9cYvXCX9SSkq9C9oUKHK

Donate Bitcoin sv to this address

Scan the QR code or copy the address below into your wallet to send some Bitcoin sv

Scan to Donate Litecoin to LetJ9QQMb7u2LMZ9Tu6rtHwcBcQFW98fbG

Donate Litecoin to this address

Scan the QR code or copy the address below into your wallet to send some Litecoin

Scan to Donate Binance coin to bnb1ga8trq08ssqepd90v6225nzfgy448pu5pw8gxp

Donate Binance coin to this address

Scan the QR code or copy the address below into your wallet to send some Binance coin

Scan to Donate Cardano to addr1qx2354yw49etstfljpdhwja3ajjlt487lg95vu9ngy2q6vu4rf2ga2tjhqknlyzmwa9mrm997h20a7stgectxsg5p5esq5l7d9

Donate Cardano to this address

Scan the QR code or copy the address below into your wallet to send some Cardano

Scan to Donate Ethereum classic to 0xcD6CC972a2297FcafACDcfE042C55C69516a9264

Donate Ethereum classic to this address

Scan the QR code or copy the address below into your wallet to send some Ethereum classic

Subscribe for updates. Trust me, no spam!

Sponsored links

1. Attend Algorithm Conference, a top AI and ML event.
2. Reasons to use control panel for your server.
3. DHgate Computers Electronics, Cell Phones & more.
4. Axo Finans.

Upcoming events

Leave a Reply

Your email address will not be published. Required fields are marked *

Get the latest

On social media
Via my newsletter

Partner links

1. Attend Algorithm Conference, a top AI and ML event for 2021.
2. Reasons to use control panel for your server.
3. DHgate Computers Electronics, Cell Phones & more.
4. Axo Finans.
Hacking, pentesting distributions

Linux Distributions for Hacking

Experts use these Linux distributions for hacking, digital forensics, and pentesting.

Categories
Archives

The authors of these books are confirmed to speak during

Algorithm Conference

T-minus AI

Author was the first chairperson of AI for the U.S. Air Force.

The case for killer robots

Author is the Director of the Center for Natural and Artificial Intelligence.

Why greatness cannot be planned

Author works on AI safety as a Senior Research Scientist at Uber AI Labs.