Two Bitcoin Companies Make the Fox Business List of 30 Hot Fintech Startups

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Fox Business published a list of 30 top fintech startups to watch in the Bay Area. The list includes two Bitcoin companies that offer simple and effective solutions for important real-world problems. BTCjam allows users to invest their bitcoin and earn a high rate of return. This process is secure and allows investors to participate in peer-to-peer lending. BTCjam is also a great place for those seeking loans, and especially for the residents of developing countries without a national credit scoring system who are subject to aggressive predatory lending practices when they need to borrow money from traditional lenders. Using cryptocurrencies such as bitcoin, and tapping foreign lenders, helps BTCjam avoid regulatory issues, TechCrunch reported in 2014. “We are one of the first real use cases for bitcoin,” said founder Celso Cardoso Pitta Jr. “Today people circle around buying and selling of bitcoin, but I don’t think bitcoin increases in value because it’s a commodity or a currency. It needs to be useful.” BTCjam is a marketplace where people from around the world connect to borrow and lend using bitcoin. By the end of 2014, the company had facilitated bitcoin loans in excess of $10 million dollars in value with …

This Chip Turns a Dumb Phone Into a Bitcoin Wallet

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itSIM is a small, dual-chip overlay that is physically placed atop a phone’s regular SIM card. Once there, theBitSIM turns that phone – even if it’s a “dumb” phone – into a Bitcoin wallet. It does so by submitting transactions to the Bitcoin network as encrypted text messages. The phone owner’s private key – stored in the BitSIM overlay – is unlocked with a PIN. Founder Leon-Gerard Vandenberg says that BitSIM “interposes SIM commands between the original SIM and the phone. So the phone thinks there’s a SIM there, and the original SIM thinks there’s a phone there – it’s a SIM port redirector for SIM commands.” BitSIM is privately raising funds for its first production run with a crowdsale through Seedco.in. They hope to have a product to ship by Christmas. Vandenberg recently said in an interview with Brave New Coin: “Anything running on top of the Bitcoin protocol is also within the reach of BitSIM users, such as Counterparty assets or via ChromaWallet. On a smartphone BitSIM would cooperate with theHIVE wallet and their full Hive app store as well, which expands services. So BitSIM is a platform [where] it will be possible for a BitSIM developer community …

BitQuick Bids to Capture US Cash-to-Bitcoin Market

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For all the ecosystem’s advancements, buying bitcoin with cash is still a slow process, one some argue has been traditionally underserved by industry startups. BitQuick, a peer-to-peer cash-for-bitcoin startup, however, is looking to reinvigorate this dormant sector. By offering some basic bitcoin protections, BitQuick aims to serve the underbanked market while positioning itself as more secure and convenient than competitors. The idea is to eschew the hassles of in-person cash-for-bitcoin transactions, which on other services could entail the inherent risk of meeting an unknown person for monetary exchange. BitQuick CEO Jad Mubaslat believes BitQuick can position itself to capture a segment of the market that is largely ignored by industry heavyweights, telling CoinDesk: “For the buyer, you don’t have to be banked. If you don’t have a bank account, you can’t do the things Circle and Coinbase require.” How it works Using BitQuick is relatively simple: sellers list their prices on the marketplace, where the company says bitcoin sales go for a 5% premium, and wait for a matching buyer. Once a match is made, the seller places the buyer’s bitcoin into a multi-signature escrow wallet. The buyer then must go deposit cash using a provided account number into a local bank location such as a Bank …

Advcash – A New Anonymous Prepaid MasterCard [Recharge it with Bitcoin]

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BitPay signed a deal with online payment solutions provider, Advanced Cash, to offer its bitcoin processing services. Belize-based electronic payments provider, Advanced Cash, has entered into agreement with BitPay, the globe’s major bitcoin payment processor. The deal will help Advanced Cash to improve its bitcoin services to customers all over the world. The company provides a wide range of solutions, including e-wallets, virtual MasterCard and Advanced Cash plastic cards. The benefit of using the firm’s cards is that it implies 0% annual fee. Besides, the website allows users to make money transfers to more than 200 countries globally. The bulk payment feature enables businesses to make mass regular payouts, such as wages, in one batch. In comparison with traditional bank accounts, the company offers easier and cheaper transfer instruments. Given the ongoing expansion of the bitcoin industry, Advanced Cash has to offer effective and reliable payment solutions in order to compete with other industry players and satisfy the customer needs. “We are excited to finally be able to offer our customers an easy and affordable way to fund their e-wallets in Bitcoin and then manage their online funds the way they want. We definitely see a growing demand for this. …

5 Ways to Buy Bitcoin with Paypal – Scams and Legit ways

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  There’s no news to the fact that Paypal has been denying people the ability to buy Bitcoins with their services. It’s written loud and clear in Paypal’s TOS that they do not cover digital goods and this leads to the issue of chargeback. Hence anyone trying to sell Bitcoin with Paypal will probably be suspended from Paypal. Having said that, there are still a few options to be able to purchase Bitcoins through the use of a Paypal account. Most of them are far from perfect but if you need to acquire a small amount and it’s a one time thing you may want to consider them. Option 1 – Buy Bitcoins with Paypal through Virwox This is probably the oldest and most tried out system in the book. We’ve written about this method many times and it seems to work pretty good. The main cons of buying through Virwox is that the fees are extremely high (can amount to around %15) and sometimes you just don’t get approved. The pros is that it’s tried and tested, meaning low scam possibility. Option 2 – Buy Bitcoins with Paypal through Local Bitcoins Local Bitcoins is a market place of buyers and sellers of …

Payment processor Neteller changes company policy to add Bitcoin option

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  Neteller, the well-known global payment solutions provider, has announced the integration of a new Bitcoin deposit feature. A representative for the company revealed that the new option could be launched as early as this Thursday (26th). The decision represents a fundamental change in Neteller’s policy, the site Coindesk reports. The payments processor and prepaid card provider had previously changed its terms and conditions to prohibit “trade, exchange, purchase or sale of Bitcoins, or any other virtual currency.” A press release issued this Wednesday (25th) by Optimal Payments – the parent company that operates the brand Neteller – explains that the process of adding the Bitcoin payment option to the company’s system was handled through a partnership with BitPay. “Neteller already provides merchants and customers a broad and diverse set of online payment options and the addition of Bitcoin gives them another valuable payment method to help convert more transactions,” said Joel Leonoff, president and CEO of Optimal Payments. “We recognise the important role that cryptocurrencies play in the future of payments and we look forward to working with BitPay as the acceptance rate grows.” To avoid any consequences caused by Bitcoin’s volatility, the merchants using Neteller’s system and the new Bitcoin option will be able to immediately convert the cryptocurrency into fiat currency …