Virtual currency exchange start-up BinaryFund to accept payments via credit cards
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This posted on Finextra.
Virtual currency exchange start-up BinaryFund to accept payments via credit cards
1 hour ago Source BinaryFund
The world’s first exchange platform taking card payments for digital currencies including Bitcoin launches in the UK today. In a move promising to revolutionise how digital currency is acquired and used, BinaryFund will also dramatically change how the nation’s online retailers, investors and finance professionals take payments, approach currency exchange, and debit customer accounts. It will also smooth the path to widespread digital currency adoption at economic level.Rolling out today after several months of intensive development, the formal launch of BinaryFund marks a number of notable firsts at commercial, financial, FX and tech circles, making it one of the most significant unveilings of the year to date.
The platform is the first UK exchange platform to accept card payments. It is also the first exchange platform that will allow users to acquire their digital currencies in minutes rather than days; a timeframe which is frustratingly common with other service providers.
As well as being technically remarkable, BinaryFund.com offers Britain’s business infrastructure the chance to set the standard in digital currency transactions. The platform has developed a robust, reliable and accessible merchant tool system that will allow business users to accept payments in digital currencies such as Bitcoin while still providing the convenience and security that comes from being able to deposit the funds in Pounds Sterling, Euros or American Dollars at bank account level.
In addition to its groundbreaking technology and revolutionary approach to the commercialisation of digital currencies, BinaryFund is currently working to establish the first crypto currency council in the United Kingdom. This means that it would have a neighbourhood of diverse businesses all located in the same area all working in and accepting digital currency payments.
BinaryFund will initially accept Bitcoin and Litecoin but will add other digital currencies in future.
Tedros Mehari Director of Technology at BinaryFund said, “BinaryFund is designed to be secure, instant, reliable and easy. It brings the purchase, exchange and use of digital currencies out of the realm of the unusual and into the everyday. The platform is a revolution and revolutionary with a number of exciting features and innovations. We have totally re-imagined the role of digital currency, making it convenient, quick and above all, a natural choice. We expect that digital currencies will be widely adopted within the next year to 18 months thanks to low volatility and increased trust, larger investment and more widespread use. BinaryFund is the first step in making this possible.”
There are five main digital currencies, with Bitcoin being the most well known. Digital currency, sometimes known as cryptocurrency, is created and held electronically and based on mathematics rather than gold or silver. It is decentralized, so is not tied to any one bank, financial institution or country and can be used to buy, sell and invest online.
Regards
GaryIf you do sign up please dont for get me. Thanks Address below. Feathercoin Address
6rbhfd8Wf198rv2BmsQDqmsTAxCEFMX1aS
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Now that sounds very interesting I am going to have a look now. I think that we should send a few emails to them to see how they stand on FTC with it being a UK founded coin. :)
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Oh they already do :D :D :D :D :D :D :D
Good find +1
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Reading…
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Wonder how they deal with risk of chargeback?
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Just tried to have a go on this…
Still waiting for my registration email after 10mins, no it’s not in junk. the site keeps dropping off-line and getting cloudflare cached pages.
I’ll keep you updatede as the afternoon progresses
UM
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“Letest News”? For a site open for a few days afetr “months of beta” that’s poor…
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email verification complete, just depositing a few FTC then will create a sell and see what happens…
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I think there are a few teething problems but I do think that it looks promising, I will have a go later, my only gripe at the min is that they had to add a troll box ::)
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I’m having a could of problems after a trade or 2 but I’m sure they will get resolved
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Trying it as well, not made any trades yet. Order book seems to not display all orders…
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Hadn’t spotted that one, Ive done a couple of trades FTC–>BTC and no BTC credit to my account yet :-\
But they seam to be trying hard
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Been on this site most of the afternoon now, they are having some small issues but the devs are on-line and working on them as thye see them come up in the troll box.
Seams to be a good site, with a solid group of people working in the back ground, and looks like once it starts to take off a little might answer some of the how do I turn my FTC back into real money questions, and will be intresting to see what they do with the merchant tools section of the site, as this may allow for adoption a little quicker.
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Gotten much worse after some maintenance downtime overnight, can barely log in, can’t get to my account page, can’t get to any trading pairs pages, not looking terribly awesome at this stage…
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It was suddenly much better after my last post, but now their site is inaccessible as the SSL cert has been revoked. Looks like those coins/fiat are now in danger of being forfeited…
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Is this just a bad launch or signs that it’s doomed from the off?
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Hmm, it’s back up but slow as hell with tons of Cloudflare 522s.
This to me is a bad sign, means someone does not know what they’re doing, either the server is not up to scratch, the coding is poor, or they just don’t know how to administer something simple like upping the rate-limiter on their firewall for the Cloudflare IPS. Or it could they’re just not wanting to spend money, but in all cases it doesn’t look good.
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Site seems to be offline and the start page looks very unprofessional.
They talk about two weeks until they are back, but don’t tell the start or end date of these two weeks…
Doesn’t look professional to me :(
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Could be another one of those scryptcloud scams… Gimme some dosh the scarper type deals
I like to think I’m an early adopter but when it comes to cash I’m very wary about sending untried sites any cash.
Which begs the question, Why would anyone leave any coin in any exchange that they can’t afford to lose?
I can understand that someone could get caught out with a transaction in process just as the site folds but surely you wouldn’t leave over 50 grand in there lying around? -
I have about 40 FTC in there, we’ll see what happens.
