Market review, July 4, 2019

3
2019-07-04 14:01:05

Coinsquare, a Canadian cryptocurrency trading platform, announced the purchase of a controlling stake in software producer, Just Cash.

It is reported that this acquisition will allow the company to introduce cryptocurrency transactions on traditional ATMs in the United States. Just Cash has developed a software to retrofit ATMs to sell cryptocurrencies via a customer’s debit card without having to upgrade the machine’s hardware.

About 250,000 ATMs that do not belong to traditional financial institutions can potentially be upgraded using this feature. Coinsquare CEO, Cole Diamond, said that to date, the technology had already been introduced in some ATMs, and the integration process would continue until the end of next year.

By partnering with two of the three major producers manufacturers of such ATMs – Nautilus Hyosung, Triton, and Genmega, Coinsquare expects to integrate with approximately 170 thousand machines across nearly all 50 states.

We will double the total number bitcoin ATMs within a year,” Diamond said.

The machine will then offer a printed receipt that shows the user’s private and public keys, “effectively your paper wallet.”

The company’s roadmap includes a full US expansion in 2020, with the ATMs serving as an entry point. Just Cash’s software will “support efforts to work with regulators” Coinsquare has pulled through in anticipation of this market entry.

Diamond hopes that ATMs will serve as an effective way to attract new users to the cryptocurrency industry. “Right now, there is a lack of mainstream cryptocurrency adoption because most people are intimidated by the process to acquire it,” he said.

Technical analysis of Bitcoin (BTC):

Coinsquare, a Canadian cryptocurrency trading platform, announced the purchase of a controlling stake in software producer, Just Cash.

It is reported that this acquisition will allow the company to introduce cryptocurrency transactions on traditional ATMs in the United States. Just Cash has developed a software to retrofit ATMs to sell cryptocurrencies via a customer’s debit card without having to upgrade the machine’s hardware.

About 250,000 ATMs that do not belong to traditional financial institutions can potentially be upgraded using this feature. Coinsquare CEO, Cole Diamond, said that to date, the technology had already been introduced in some ATMs, and the integration process would continue until the end of next year.

By partnering with two of the three major producers manufacturers of such ATMs – Nautilus Hyosung, Triton, and Genmega, Coinsquare expects to integrate with approximately 170 thousand machines across nearly all 50 states.

We will double the total number bitcoin ATMs within a year,” Diamond said.

The machine will then offer a printed receipt that shows the user’s private and public keys, “effectively your paper wallet.”

The company’s roadmap includes a full US expansion in 2020, with the ATMs serving as an entry point. Just Cash’s software will “support efforts to work with regulators” Coinsquare has pulled through in anticipation of this market entry.

Diamond hopes that ATMs will serve as an effective way to attract new users to the cryptocurrency industry. “Right now, there is a lack of mainstream cryptocurrency adoption because most people are intimidated by the process to acquire it,” he said.

Technical analysis of Bitcoin (BTC):

Over the past day, bitcoin rose to a resistance level of $12,000. At the moment, there is a turning point. Either it goes up, or it goes down for a deeper correction. The nearest resistance levels are $12,000, $12,360. The nearest support levels are $11,500, $11,100, $10,650.

Technical analysis of Ethereum (ETH):

Over the past day, ethereum increased to the resistance level of $302, thereby updating the local high. After such growth, it dropped to the support level of $290. We still expect the price to go down to the support level of $264. Now, the price of ethereum is $292. The nearest resistance levels are $300, $302. The nearest support levels are $290, $285, $280.

Technical analysis of Ripple (XRP):

Over the past day, ripple again rose to the resistance level of $0.40. This movement can be considered another test of the resistance level. Then it fell to the support level of $0.3880. Now, the price of ripple is $0.3930. Our yesterday's forecast remains in force. Let's be patient. The nearest resistance levels are $0.3940, $0.4030. The nearest support levels are $0.3820, $0.36.

Disclaimer. This review is only for information purposes and cannot be considered as a proposal or an indication to perform certain transactions in the financial and commodity markets. The estimates and recommendations in the review are the personal opinion of the company's analysts. The company's view on the prospects for individual financial instruments is valid as of the date of the report. The Company does not assume any liability and liabilities for compensation for damage that may result from the use of this report.
Something went wrong
Message: