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Bitcoin News: 04 October 2021
- New Zealand Launches its First Bitcoin-Only Investment Fund
- El Salvador has introduced a $0.20 per gallon gasoline subsidy for citizens who pay with BTC
- Cardano Joins Forces With Rival Esports Firm
- Millions of people will be now able to use Dogecoin ($DOGE) as a payment method
New Zealand’s Bitcoin-Only Investment Fund Live
Vault International Bitcoin Fund was the first cryptocurrency fund in New Zealand to focus only on digital currency. According to a recent local article, Vault Digital Funds has launched the Vault International Bitcoin Fund for New Zealand investors. They would be able to add the asset class to their portfolio without needing to own it directly via it. “We view this as a wonderful opportunity for individuals to receive that exposure without having to perform all the more complex and technical elements of it themselves,” said Janine Grainger, Co-Founder of Vault Digital Funds.
She stated that the effort would be distinct from most typical investment funds in that it would have a different emphasis.
Despite this, Vinnie Gardiner, CEO and Co-Founder of Vault Digital Funds, cautioned anyone dealing with cryptocurrencies about the hazards involved: “Bitcoin isn’t suited for everyone. This is a serious matter that should not be taken lightly.” Darcy Ungaro, host of the NZ Everyday Investor and a licenced financial counsellor, weighed in on the decision as well. Despite the widespread belief that bitcoin is a “fraud or fad,” he said that residents have recently demonstrated a rising interest in cryptocurrencies: “Over the last three years, I have been having talks where people say bitcoin is a scam, or a fad, something to avoid.” However, I’ve been assisting more recently.
$0.2 OFF on Gasoline on Using BTC in El Salvador
El Salvador is attempting to increase the use of its government-issued Chivo Bitcoin wallet by giving $0.20 per gallon savings to customers who pay with BTC. Salvadoran President Nayib Bukele has announced a $0.20 per gallon decrease in gasoline prices for customers who pay with the government-backed Bitcoin wallet Chivo. The president announced the subsidy through Twitter on Thursday, describing it as “good news for Salvadorans’ pocketbook.”
“The state firm Chivo negotiated with the major gas station companies in our nation so that starting tomorrow, their stations would sell each gallon of fuel $ 0.20 cheaper, using Chivo wallet,” Bukele said, according to a rough translation. The discount has no limits, according to Bukele, and any local individual or business may take advantage of it. He went on to say that the reduction will cancel out “multiple rises in international gasoline prices” and “lower transportation costs in supply chains.” Others questioned the government’s choice to provide the discount solely to those who pay with Chivo, with one Twitter account asking why the administration did not act to off-set the cost of the reduction.
Bukele also said that he has established a fund to “stabilise” the local pricing of liquefied natural gas. While the international market expects a $1.17 increase in the price of 25-pound cylinders of liquified gas, the president claims that Salvadorans would see a “slight reduction” in cost.
He went on to say that the government would absorb the rise for a year, and that any decreases in worldwide gas costs would be passed on to consumers during that time.
Cardano Joins Forces With Rival Esports Firm
Cardano made headlines once again at a recent event with some significant announcements, including one specific to esports that will shake up the fast-growing NFT esports sector. This year’s Cardano Summit just ended, indicating that Cardano and ADA have a bright future as we enter the fourth quarter. The Cardano Summit in September was jam-packed with intriguing news about smart contracts, NFT initiatives, and future plans. We’ve all been enthralled by the rise in popularity of cryptocurrencies in general, and particularly the current NFT (non-fungible token) craze.
During the conference, Cardano hosted a remote video link and discussed his partnership with Rival, a new and rapidly developing esports and gaming company. Cardano’s team discussed how they will build agnostic NFT markets, fan incentives, and other features to help Rival and its partners. The Cardano 2021 Summit Foundation website has a complete list of new strategic relationships. Cardano is assisting Rival and other established partners by allowing them to generate and distribute NFTs, as well as redeeming NFTs for actual items and receiving marketplace-based royalties on the Rival platform.
This announcement arrives at the ideal moment; as the NBA and NFL seasons begin, it only serves to provide a glimpse into what is sure to be the first of many more to come. We can now enjoy esports and our greatest memories alongside it when new games are released and highlights become NFTs. 2021 is loaded with a lot of excellent smart contracts under development, so keep your eyes and ears alert.
Millions of people will be now able to use Dogecoin ($DOGE) as a payment method
“The expansion of BitPay’s blockchain payment technology to enable consumer cryptocurrency payments on Verifone’s in-store and eCommerce Cloud Services platforms in the United States,” according to Verifone (NYSE: PAY). This American multinational firm, based in Coral Springs, Florida, provides payment solutions to merchants across all sales channels, including in-store, web, and mobile. Verifone announced its new “crypto payments” solution, which is the product of a cooperation with BitPay, the world’s top crypto payment processor, in a press release released on September 28.
This approach enables businesses to “extend their client base and encourage crypto adoption while remaining safe from bitcoin market price volatility.” It will be “simple for retailers to adopt and straightforward for consumers,” according to Verifone. Verifone claims that its crypto payment system offers three key advantages to merchants: It attracts new consumers by allowing retailers to accept cryptocurrency “as easily as other Advanced Payment Methods without requiring buyers to shift money or download a new app,” according to the company. It may be used both online and in-store. This means that Verifone’s payment device or Verifone’s website accept crypto from customers’ native crypto wallets.
It eliminates “crypto’s risk and volatility,” and settlement is “provided swiftly in local money.”
According to Stephen Pair, co-founder and CEO of BitPay,
“Many of the world’s largest and most well-known companies are trying to get into the burgeoning crypto industry, and Verifone’s merchant base includes them. This cooperation enables these businesses to take crypto payments quickly and securely, allowing them to capitalise on rising consumer demand for cryptocurrency.“
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Read Yesterday’s news here.