ROSH HAA'YIN, Israel (PRWEB) August 30, 2018
Virtual Crypto Technologies, Inc. (the “Company” or “Virtual Crypto”) (OTCQB: VRCP), a developer of innovative software and hardware for the purchase and sale of cryptocurrency via point-of-sales systems, ATMs, tablets, PCs and mobile devices, announced today the release of an interoperable software. This release is the first official launch of Virtual Crypto’s expansion into customized solutions for their diverse client base. The innovative technology will offer traditional ATM operators, the world over, a solution that will enable them to retrofit their machines to allow users to buy and sell cryptocurrency, including Bitcoin.
The software (NetoBit Trader) can be remotely installed by Virtual Crypto on any existing ATM, allowing for Virtual Crypto’s Integration Team to ensure a customized hassle-free integration. Virtual Crypto’s software will enable end-users to sell cryptocurrency and convert it into fiat (cash out) at any traditional ATM, including older ATMs that are currently not equipped with a camera.
Virtual Crypto has created a simple process that brings cryptocurrency one step closer to mass adoption. For one to sell cryptocurrency via the software, a user simply scans a QR code that appears on the ATM screen’s interface, which represents a series of variables regarding that specific transaction. Within seconds, the user will receive fiat from the ATM in accordance with the amount of crypto sold. The software provides real-time transactions and ensures the best exchange rate at the lowest commission offered on the market. Virtual Crypto's proprietary algorithms scan multiple exchanges to provide users with the best value at the time of the transaction. Similarly, the user can easily, quickly, and securely purchase cryptocurrency at any existing ATM equipped with a camera.
For ATMs where Virtual Crypto's NetoBit Trader software is installed, a verification algorithm instantaneously predicts with a very high-degree of precision whether the cryptocurrency transaction will be authorized by the Blockchain. This process happens immediately following the submission of the transaction and before confirmation when the block is signed. As a result, the software can verify transactions within seconds to minutes, instead of the standard ten minutes to 24 hours, following the current process of six authorizations.
"Our company’s motto is ‘cryptocurrency made easy’. With the release of our innovative interoperable software, it is evident that we are doing exactly that. By enabling the ability of buying and selling cryptocurrency at regular ATMs, we will facilitate an unprecedented boom in making this payment option a standard," stated Virtual Crypto Technologies CEO Alon Dayan.
Virtual Crypto's new software release removes one of the main barriers to making cryptocurrency readily accessible to the general public. Up until now, the only way to execute a crypto transaction at an ATM was via ATMs adapted specifically for cryptocurrency. In fact, these “Crypto ATMs” have not been widely deployed due to emerging technology, which Virtual Crypto now possesses. According to Coin Radar, as of the end of July 2018, there were fewer than 3,500 Bitcoin ATMs worldwide. Compared with this limited deployment, in October 2017, the ATM Industry Association estimated that there were more than three million regular ATMs worldwide, and that the global ATM market would grow at an annual rate of 8% between 2017 and 2025, when it is expected to reach more than $30 billion.
Dayan continued, "The addressable market is staggering and this is why Virtual Crypto is releasing our proprietary software for enabling real-time crypto transactions to ATM operators, such as banks, worldwide. We are convinced that banks and other institutions will realize the advantage in allowing ATM users to buy and sell Bitcoin and other cryptocurrency on the world's most accessible financial hardware – the ATM. We truly believe our groundbreaking software will foster mass adoption and make it easier for all to buy, sell, and transact with cryptocurrency."
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About Virtual Crypto Technologies, Inc.
Virtual Crypto Technologies, Inc. (OTCQB: VRCP) (“Virtual Crypto”) is a technology company dedicated to making cryptocurrency accessible to the public on a global basis. Virtual Crypto specifically develops payment solutions for businesses and consumers, which combine Application Programming Interfaces and Mobile Applications for implementation via ATM’s, PCs, tablets and other mobile devices.
The company’s proprietary algorithmic technology trading platform and NetoBit product line, instantaneously confirms the purchase or sale of cryptocurrency, as opposed to industry transaction processing norms, which can take 10 minutes up to 24 hours. All trades and exchanges are insured up to $3,000 per trade.
Virtual Crypto’s NetoBit ATM and retail point-of-sale, NetoBit Pay, incorporate advanced technologies tailored to the needs of primary market players, users, investors, and business owners. Virtual Crypto’s platform bridges the three main functions of the cryptocurrency sector – exchanges, wallets and payments – to the world of fiat exchanges, granting access to immediate cash exchanges between consumers and businesses worldwide.
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All statements other than statements of historical facts contained in this press release are “forward-looking statements,” which may often, but not always, be identified by the use of such words as “may,” “might,” “will,” “will likely result,” “should,” “estimate,” “plan,” “project,” “forecast,” “intend,” “expect,” “anticipate,” “believe,” “seek,” “continue,” “target” or the negative of such terms or other similar expressions. These statements involve known and unknown risks, uncertainties and other factors, which may cause actual results, performance or achievements to differ materially from those expressed or implied by such statements, including, but not limited to, those described in the Company’s 2018 Annual Report on Form 10-K filed with the U.S. Securities and Exchange Commission (the “SEC”) on April 17, 2018, and the other risks and factors set forth in the Company’s filings and submissions with the SEC. In addition, the Company operates in a relatively new industry sector where securities values are highly volatile and may be influenced by economic and other factors beyond its control. These forward-looking statements speak only as of the date hereof and the Company disclaims any obligations to update these statements, except as may be required by law.
Alon Dayan, CEO Virtual Crypto Technologies, Inc.
Tel: +972 54-487-7959