Good morning crypto-enthusiasts! Heard of Prestashop? It's a free online store, whether set up and hosted by yourself or aided by experts in this matter, that is powering hundreds of thousands online shops all over the world.
So? Apparently a Vilnius-based (Vilnius is the capital of Lithuania) cryptocurrency payment gateway, Coingate, is partnering up with Prestashop, essentially opening up the possibility to take payments in cryptos for an estimated 80 000 European merchants.
The full nature of the partnership is not 100% known to me, but probably revolves around Prestashop making Coingate's payment module a core component of their freely-downloadable webshop. This move is another blockbusting step towards a wide-spread adoption of cryptocurrencies. Dmitrijus Borisenka, the CEO of Coingate, explained:
“There is an entire new market of people who own all kinds of cryptocurrencies and are looking for ways to spend them, but the gap between customers and merchants in this sphere is still huge. It is therefore crucial to educate and encourage businesses to adopt a forward-thinking attitude and to overcome the prevailing misconceptions that surround cryptocurrencies.”
The payment module will accept Bitcoin, Bitcoin Cash and of course multiple other cryptocurrencies. Payouts for merchants can be settled on the next day in Euros, protecting the sellers from the biggest volatility spikes.
Catch the original story here on bitcoin.com
Many of us are feeling the pain of decling returns from our cryptocurrency investments and post payouts - there is much talk that crypto is dead and people not involved with cryptos are gloating about the demise of the cryptosphere all over the www. If you think that this is about whales abandoning ship, then it's not probably true. The truth is that the real whales haven't even entered the markets yet.
Let's see what others have to say about this. Bill Barhydt, the CEO of Abra, a major cryptocurrency wallet that lets you trade 20 cryptos and 50 fiat currencies, is of the opinion, that there is absolutely none large institutional investor money in cryptos from the west. From Japan, sure, but not from the Western players.
“I talk to hedge funds, high net worth individuals, even commodity speculators. They look at the volatility in the crypto markets and they see it as a huge opportunity. Once that happens, all hell will break loose,” he said. “Once the floodgates are opened, they’re opened.”
According to Barhydt, the interest from Japanese institutional investors is growing and the Western investors will follow suit soon after their Japanese brothers, probably as soon as in 2018, leading to another boom in cryptocurrency adoption.
Until then, keep calm, keep investing.
Original story from uk.businessinsider.com
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