#CryptoCorner: Flip (NASDAQ: $NXTD) Pre-Orders Shipped, Market Rally Continues as BTC Breaks $5K, and PayPal (Nasdaq: $PYPL)
Invests in Blockchain Startup
Point Roberts WA, Delta BC, April 3, 2019 - Investorideas.com, a leader in crypto and blockchain investing news, in partnership with Fit Pay, Inc.’s (subsidiary of NXT-ID (NASDAQ: NXTD) crypto payment tech, Flip and the Genesis Exchange and Wallet App bring you today’s edition of the Crypto Corner podcast and commentary on what’s driving the cryptocurrency market .
Listen to today’s Crypto Corner Podcast: https://www.investorideas.com/Audio/Podcasts/2019/040319-CryptoMarket.mp3
Stocks discussed: (NasdaqCM:NXTD) (NasdaqGS:PYPL)
Fit Pay, Inc., a wholly owned subsidiary of Nxt-ID, Inc. (NasdaqCM:NXTD), today announced that it has begun shipments of pre-orders of contactless payment device Flip. Flip allows transactions at any retail point of sale location that accepts supported contactless payments, using a near field communication (NFC) antenna. Michael Orlando, COO of NXT-ID and President of Fit Pay, Inc., commented:
"When we developed the concept for Flip our goals were to create a product that more seamlessly connected cryptocurrencies to the payment ecosystem and to demonstrate our drive to be at the leading edge of payment technology. Flip accomplishes both goals. We are very pleased consumers can now use Flip to buy things every day. We look forward to growing the community of Flip users over the coming months."
Meanwhile the crypto market has continued its rally, with total market capitalization clocking in at $176 billion USD at press time, according to CoinMarketCap. This represents growth of about $13 billion since this time yesterday. Bitcoin (BTC) is trading for $5030 now, with a 24 hour growth of just about 6 percent. Ether (ETH) and XRP trail, having grown about 8 and 7 percent, respectively. Litecoin (LTC) has posted an impressive 24 percent growth since yesterday. Bitcoin Cash (BCH), however, has shown the most staggering growth at 41 percent, surging into the top five coins by market cap.
Crypto exchange giant Coinbase confirmed in a blog post yesterday that it has insurance coverage for up to $255 million of coins held in hot wallets. Hot wallets are online and are more vulnerable to hacks.
The data is clear that, today, the most likely consumer loss scenario for any cryptocurrency company is hot wallet loss due to hacking. We secured our first policy to address that risk at the end of 2013 and have maintained a commitment to educating and growing the cryptocurrency insurance market ever since then. We currently hold a hot wallet policy with a $255 million limit placed by Lloyd’s registered broker Aon and sourced from a global group of US and UK insurance companies, including certain Lloyd’s of London syndicates.
Forbes reports that PayPal (NasdaqGS:PYPL) has invested in a blockchain startup, joining the extension of Series A funding round for Cambridge Blockchain. This is the first blockchain investment from PayPal. A spokesperson from PayPal told Forbes:
“We made an investment in Cambridge Blockchain because it is applying blockchain for digital identity in a way that we believe could benefit financial services companies including PayPal.”
Sam Mowers, Investorideas
Crypto Corner Sponsors:
Flip™ is the creation of Fit Pay, Inc., a leading provider of cutting edge payment technology and a subsidiary of NXT-ID (NASDAQ: NXTD). By leveraging the FitPay Payment Platform™, Flip enables cryptocurrency holders to seamlessly exchange their cryptocurrency for US dollars and store that value on a contactless payment device that can be used to make purchases at millions of retail locations. https://www.fliptopay.com/
Genesis Exchange and Wallet App by Genesis Blockchain Technologies ( GBT)
@GenesisBlockch
GBT is a powerful cryptocurrency centralized / decentralized exchange which will include a broad range of services and benefits from cryptocurrency and blockchain markets development, while avoiding complications and risks arising from crytocurrency ownership, transfer, and exchange.You can Download the Genesis Exchange and Wallet App at Google Play and on the Apple App Store. Learn more at http://www.mygenesis.io
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