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Analysis: USDT’s deployment leads to momentum growth for Tezos in the DeFi space

Tezos is becoming an ideal destination for numerous decentralised finance (DeFi) protocols, largely thanks to its recent integration with Tether’s USDT stablecoin.

Last month, the USDT stablecoin launched on the Tezos blockchain. This latest development has paved the way for a rapidly-growing DeFI ecosystem on one of the world’s energy-friendly blockchains. 

Tether USD is the crypto industry’s most popular stablecoin and serves as the backbone of the DeFi industry as it allows investors to quickly move into and out of positions and weather the storms amid bearish market sentiment. 

Tezos, on the other hand, is an energy-efficient and self-upgradable Proof of Stake protocol that has a low annual carbon footprint that’s equivalent to just 17 people’s yearly energy use. 

Because of its ultra-low carbon emissions, the Tezos blockchain has become a favourite stomping ground for environmentally-aware crypto enthusiasts, who also benefit from its minimal transaction fees of less than a cent. 

The Tezos blockchain’s benefits haven’t gone unnoticed, with numerous financial service firms deploying on the network.f Tether USD’s integration looks like it will accelerate its DeFi prospects.

Following USDT’s integration with Tezos, the world’s number one cryptocurrency exchange Binance has made it available to trade, potentially opening the floodgates for yet more stablecoins to switch to Tezos. 

DeFi apps on Tezos have already taken advantage of Tether USD’s deployment. For instance, the Quipiswap DEX has since launched its Stable DEX on Tezos, allowing users to farm for rewards and collect dividends using stablecoins, including USDT. 

Another DeFi platform, Youves, is now offering USDT holders the chance to participate in its long-term farming liquidity pool that provides up to 15% APR. The Plenty DeFi ecosystem offers up to 20% APR in PLENTY rewards on multiple LP pools.

There are plenty of good reasons developers desire to build on Tezos. DeFi apps will not only be able to boast their low-energy credentials but also take advantage of the latest blockchain innovations. 

All these are possible because Tezos employs an on-chain, DAO-based governance model that allows for rapid adoption of new functionality – already, it has undergone ten major upgrades with no forks. 

With Tezos’s fast transaction speed, USDT’s integration on the blockchain makes it easier for numerous DeFi projects to launch on the network. 

The Tezos blockchain will soon be adding some even more exciting capabilities for DeFi with its upcoming Kathmandu update, which will enable testing of smart contract-based optimistic rollups – a key privacy solution – on bleeding edge testnets. On the security side, Kathmandu will also bring improved randomness with the integration of Verifiable Delay Functions. 

Tezos co-founder Arthur Breitman recently said he hopes to see a big future push from the world of DeFi. With USDT now a big part of the Tezos ecosystem, more DeFi projects will launch on the blockchain over the coming months and years.

The post Analysis: USDT’s deployment leads to momentum growth for Tezos in the DeFi space appeared first on CoinJournal.

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Jack Mallers’ Bitcoin payments app Strike launches its eagerly awaited Visa card

Bitcoin evangelist Jack Mallers’ Bitcoin payments app Strike has launched its eagerly awaited Visa card. The Card will allow users to make direct deposits, buy bitcoin, pay in bitcoin, use Apple Pay and Google Pay to spend funds, send and receive money, and earn rewards.

Strike is a Lightning Network-built payment app that allows users to make payments and earn rewards on spending.

The launched Visa Card duped Strike Card, will be availed to all those who register for the waitlist in the Strike app.

Strike in an announcement said:

“The Strike Card is here! A Visa card with real rewards for the real world. You can now take Strike anywhere and earn rewards on everyday spending. Join the waitlist in your Strike app for early access as we begin rolling out the card to everyone.”

Combining traditional and crypto payments experience

The Strike payment app combines traditional and crypto payment experiences with instant rewards for spending.

Strike Card users will not be charged any additional fees when using the card and will rather get instant rewards on every spending.

Additionally, Strike has proposed to send 1% of all the profits made by Strike Card to an open-source Bitcoin development that is likely to drive more bitcoin adoption across the globe.

Strike said:

“Funding Bitcoin with every swipe. Putting our money where our vision is.”

Strike will also offer additional rewards to those who refer friends and family for the Visa Card.

The post Jack Mallers’ Bitcoin payments app Strike launches its eagerly awaited Visa card appeared first on CoinJournal.

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What to know before signing up with NOWPayments

NOWPayments is a cryptocurrency payment gateway that lets users accept payments in more than 100 cryptocurrencies. It supports auto coin conversion, allowing merchants to accept their crypto of choice even if the customer makes payment in another one. 

The gateway supports fiat conversion and has a Mass Payout solution, a Twitch donation button, and customized solutions for casinos.

The platform gives access to a personal account manager, lets customers receive instant payouts to an e-wallet or bank account, offers 24/7 support, and is known for some of the lowest fees on the market.

Among the tools available to merchants are API, widgets, invoices, and plugins for WooCommerce, PrestaShop, Opencart, ZenCart, Magento 2, etc. Last but not least, NOWPayments doesn’t take custody of users’ funds.

How it works

NOWPayments lets online marketplaces accept payments in crypto quickly and easily. It works like this: the marketplace sets the price, lists a Bitcoin address, and receives payments without go-betweens. All payments made are visualized in one table.

Each Bitcoin payment is linked to the specific customer and their purchase. Order and payment IDs streamline cash flow.

The merchant can see the sum of money sent and if it corresponds to the original price because each payment is attached to a specific item in the store. They can track the payment under Status and get updates on their payments here.

Users of NOW can use a tool to get instant payment notifications if they integrate the API to create a native-looking payment gateway. They’re notified when a transaction has been completed.

The inbuilt crypto swap tool exchanges customers’ coins before the system reflects the payment in the merchant’s account.

Finally, the dashboard lists the number of payments the merchant has received on a specific day, in a given month, and over the course of its existence.

Key features

NOWPayments is most notable for its capacity to make accepting crypto payments online effortless and easy. You can integrate it into WooCommerce or other content management systems already being used on your website.

The platform employs a helpful support team, who accompany customers at every step of the setup process.

The crypto exchange feature makes it easy to manage a large number of different cryptos. Users can not only accept more than 100 different cryptos but also convert each one to a single, preferred digital or fiat currency automatically.

Pros

·         Easy integration into existing operations and sites

·         Responsive customer support

·         Easy to exchange crypto assets

·         Straightforward to accept crypto payments online

·         Does not take custody of user funds

·         Plugins available for a number of CMS platforms

Cons

·         No mobile app

·         No support for point-of-sale (PoS) systems

·         Sandbox documentation could be improved

Reasons to register with NOWPayments

The company behind NOWPayments is ChangeNOW, which has been active in the cryptocurrency space for many years and has never had a security issue. NOWPayments has inherited this strong track record. ChangeNOW has even helped people recover funds lost in incidents with crypto exchanges.

Users’ funds with NOWPayments are safe because the user is always in control of them. The only real risk is when assets are being exchanged. The user controls the private keys to their crypto assets and needs to be comfortable with the respective responsibility.

What makes NOWPayments unique? 

NOWPayments is unique in the problems it solves with fiat exchange, crypto swapping, user funds control, etc. Let’s look at how it does this.

More customers want to be able to pay in crypto, but some businesses accept fiat only. By providing a crypto-to-fiat option, NOWPayments helps them get more customers. NOWPayments’ range of buttons and plugins and the intuitive API can benefit any organization that wants to begin accepting cryptocurrencies.

Many businesses that already accept crypto will only take payment in the leading ones, like Bitcoin or Ethereum. It can be a problem if the customer wants to pay in another crypto.

The cryptocurrency payment gateway helps businesses overcome this issue by providing automatic conversion. The customer can pay in their crypto of choice, but the seller will get the coin or token they initially required.

Last but not least, NOWPayments stands out with its round-the-clock support. Each customer is assigned a personal account manager. The payment platform provides full assistance regardless of the issue and integration support.

Final thoughts

NOWPayments enables a simple but effective practice: the vendor sets the price, lists a Bitcoin address, and receives direct payments. As a non-custodial service, it might not be a good option for users who are uncomfortable with the responsibility of holding their funds.

The post What to know before signing up with NOWPayments appeared first on CoinJournal.