Wayne Chen, CEO of Interlapse Technologies Corp., was in Toronto recently for the Blockchain Futurist Conference and he helped introduce their product, Coincurve to attendees.
What is Coincurve ?
Coincurve is a new platform that allows consumers to easily purchase Bitcoin and Bitcoin Cash (the most widely used virtual currencies).
Wayne Chen explained that the focus of Coincurve is to “Drive more adoption correctly and to make virtual currency spendable and usable… Bitcoin is a global digital currency that can be sent across the world.”
“The ease of use is what makes Coincurve stand out from its competitors,”
says Chen. “It requires less info from the customer, and doesn’t require personal documents to get started.”
Chen likens Coincurve to a “digital vending machine” and is ideal for those who want to purchase Bitcoin in smaller amounts from $20 – $500. Coincurve is designed for smaller purchasers and not traders who wish to do high volume. He emphasized that Bitcoin is a payment token, meant to be spent on purchases of goods and services vs. Ethereum, which is a security token.
How Does Coincurve work?
Here is how Coincurve works:
. Having one’s own wallet means that one has full control over their purchases of Bitcoin. There is no fear of having their Bitcoin stored elsewhere.
Coincurve is very transparent and provides easy to understand pricing. The 5% processing fee is clearly noted. To complete the purchase, one sends an Interac e-transfer from their bank directly to Coincurve. The Bitcoin is then deposited directly into the customer’s wallet, ready to be spent.
In order to increase Bitcoin adoption, Coincurve has a new feature. Chen explains, “People can now buy e-gift cards with their Bitcoin from Walmart Canada, Best Buy Canada, Starbucks Canada, Esso, Cineplex, Boston Pizza, Chapters Indigo, Toys R Us, Google Play and iTunes. This makes virtual currency spendable and usable.”
As a bonus, purchasing Bitcoin now and waiting for it to increase, then using the proceeds to buy an e-gift card is a win-win.
However, Chen believes in time, more usage of Bitcoin will remove market volatility and will stabilize the virtual currency, thus making it safer for everyone. It is a very liquid currency.
Future Plans for Coincurve
Chen shared with us the immediate future plans for Coincurve (which is across Canada, except Quebec). It is being beta launched in the South East Asia market, an area troubled by high inflation and with people having limited banking services. Their goal is to help people to acquire wealth in the long term. In addition, in early 2020, Coincurve will also be able to do Bitcoin to Canadian dollar conversions.
The feedback on Coincurve has been extremely positive and is an excellent way for people to get started with Bitcoin.
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