Big Transactions in a Wild Market
In a world where volatility reigns supreme, Netcoins has managed to pull off a spectacular feat, processing its largest single transaction of over $3.44 million. This Canadian cryptocurrency company isn’t just sitting quietly in the bear market; it’s roaring (or at least murmuring) forward, enabling thousands of retailers to act as virtual ATMs for an impressive array of cryptocurrencies.
The CEO Speaks: A Commitment to Growth
Mark Binns, Netcoins’ fearless leader, appears unfazed by the cryptocurrency rollercoaster. “Despite the bear crypto market that is upon us, Netcoins continues to grow the top line transactional revenue number,” he stated, with a confidence reminiscent of a parent telling their child there’s nothing to fear from the dark.
Binns emphasized, “We have built our business on transactions and volume in the crypto marketplace, not the value of any underlying crypto asset.” In other words, when it comes to crypto, it’s less about the dollar signs and more about the cha-ching of transactions!
Taking on Payment Giants
With over 171,000 retail locations globally, Netcoins isn’t just aiming to play in the crypto sandbox; it’s looking to take on the heavyweights, specifically, Square, which has maneuvered into the crypto space like a hippo in a kiddie pool. Whereas Square brought in a substantial $43 million from Bitcoin in late 2018, Netcoins is diving deep into the waters of not just Bitcoin, but 19 other cryptocurrencies such as Ethereum and XRP.Revolutionary much?
Personalized Service for Serious Traders
What sets Netcoins further apart is its over-the-counter (OTC) services, which basically treat seasoned crypto traders as special customers—like the city’s best kept dining secret. For transactions over $1,000, clients receive a one-on-one service complete with wire transfer capabilities. According to Dave Kennett, Netcoins’ vice president of sales, “With a market cap of $28.9 billion, Square is no doubt a big contender in the field. However, our rise amidst the chaos displays a thriving underdog spirit.”
Expanding Horizons
In recent months, Netcoins has inked partnerships that have allowed it to significantly scale its network. Thanks to a collaboration with a global vouchers provider, they’ve perked up their presence across more than 50 countries and six continents, providing consumers a new, easy way to enter the cryptocurrency space.
No longer do you have to find a shady alley to buy crypto. Picture this: buying vouchers in-store and redeeming them online for crypto, all while feeling like you’re part of a top-secret mission—only this time, it’s legal and a bit less thrilling.
Continuing the Climb
As of October, Netcoins has verified its over-the-counter transactions in 42 states, leaving no stone unturned in its quest for expansion. New altcoins are being added regularly, including PIVX and Dent. Don’t blink, or you might miss their rapid ascent in the cryptocurrency stratosphere!
