Despite the unprecedented challenges of 2020, the CryptX Wallet team successfully brought on new customers, new coins, and new features.
We are excited to be a part of the crypto (r)evolution! In the next year, expect faster swaps, even more new coins, and a greater demand for crypto payments in all sectors. With an updated API and more partner integrations coming up, CryptX will continue to be the simplest solution for managing diverse crypto revenues.
My personal goal for CryptX will always be to make crypto transactions easier, more secure, and with the lowest possible fees.
Here’s to a bright and healthy 2021!
Since making the CryptX wallet service available, we’ve been adding support for more tokens, bringing the total number to 108 supported coins. These most recent additions are all ERC-20 tokens, on the Ethereum blockchain.
What are ERC-20 tokens and why are there so many? ERC-20 has become the technical standard for tokens used in smart contracts on the Ethereum blockchain. Since Ethereum is a decentralized application platform, the projects running on Ethereum use their own tokens for asset transactions.
ERC-20 tokens are one of the most important parts of our system, and the decentralized applications based on them today have played a leading role in the current positive shifts in the crypto world. We have seen that these special-use tokens are becoming more and more popular. Among them are some of the popular cryptocurrency ERC-20 analogues, such as Wrapped Bitcoin (WBTC). Of course, these new tokens and applications further enhance the importance of ERC-20 and Ethereum blockchain as a whole. CryptX is constantly working to support new popular tokens and thus help both our clients and blockchain startups improve their business. …
We are always looking for opportunities to work with other Crypto-related businesses and deliver value to our clients and their end-users. With that goal in mind, simple and secure CryptX is now the wallet of choice on CryptoGo, one of Asia’s self-developed cryptocurrency kiosks. Our newest partnership with CryptoGo marks and supports our ambition to become a reliable and a trusted company in the Asian market. Crypto adoption rate in this market is already quite high and huge growth is still expected.
CryptoGo makes bank-grade advanced bi-directional cryptocurrency kiosks, providing fast & reliable transactions, with minimal transaction fees. It features fully customizable software and provides an ideal customer experience. Multiple cryptocurrencies are supported, including new tokens/IEOs, a one-click setting of customized transaction flow, and different levels of Know Your Customer (KYC) requirements, including integrated fingerprint scanner, finger vein ID, EMV card reader, and HD camera. …
Previously, I gave a brief history of CBDCs, what they are, and how they compare with traditional cash. In this second part, I will discuss the costs and benefits of introducing a CBDC.
Technology develops at a rapid pace, and keeping up with it is sometimes not only desirable but actually necessary! However, jumping on the train — much less being the locamotive itself — might not always be a good idea. It is often more important to get something right than to get something first, and this will likely hold true for Central Bank Digital Currencies as well.
So, what could be the benefits of CBDCs? Here are a few…
The API is a powerful key to getting the most out of the CryptX operational wallet. The CryptX app’s UI is extremely simple and functional, but even more can be done with programmed API calls. This is how CryptX is able to achieve smooth integrations with crypto ATMs, for example. Using General Bytes’ open source code base, we have added CryptX’s wallet into the BATM software on GitHub. Now our General Bytes partners can review it and confidently select CryptX as their wallet of choice.
I spoke with our CTO, Irakli Khidesheli, about our current development focus: “We are continually expanding the API, which will allow for more integrations with our crypto ATM partners. As it is open source, everyone can follow this example and develop their own applications with CryptX, as well.” …
This is a three-part series on CBDCs: what they are, how they are used, and why they are useful for cryptocurrency markets. In this first post, I will go over the history of CBDCs and how they compare to traditional fiat currencies, and how they differ from other blockchain-based tokens.
It was March 2nd, 2016, and Ben Broadbent, Deputy Governor for Monetary Policy at the Bank of England, gave a speech about Central Banks & Digital Currencies. It was at that speech, when Mr. Broadbent first mentioned the term: Central Bank Digital Currencies (CBDCs). To give the timeline in reference to the price of Bitcoin, it was around $420 that day. …
As of October 8, average ethereum fees have fallen by 86%, to about $2.02 from their September 2 peak of $14.58. People would say this fall was expected due to the reduced interest and slow-down in the decentralized finance (DeFi) space.
How did we get here?
While talking about the current drop, it is worth mentioning some facts about ethereum fees in 2020.
Since January 1 right up until March 11, the average fees were just in the range of $0.08 to $0.28 (coincidentally 86% lower than the current average fee of $2.02). March 12 saw about a 550% increase to $1.05, …
I am delighted to announce that CryptX Wallet is fully integrated into Genesis Coin Crypto ATMs and is now one of the standard choices for its operators.
This innovative wallet solves multiple problems for many businesses that want to accept diverse cryptocurrencies in their daily operations, but need to manage liquidity in a highly volatile financial sphere. The most typical users are crypto ATM operators, gaming platforms, e-commerce sites, and regional exchanges. Essentially anyone who supports cryptocurrency payments in multiple coins will benefit from the simplicity, speed, and security of CryptX.
Managing diverse coins has never been easier — just create all your coin wallets in CryptX with a single click. CryptX also has the highest security possible, using Securosys Hardware Security Modules to store all private keys in Switzerland. Finally, its killer feature is the ability to execute swaps nearly instantly. …