Consumers looking to get their paws on bitcoin and dogecoin now have another option to consider.
WPCS International, Inc. subsidiary BTX Trader has announced the launch of a new product called Celery, a web-based service similar to Coinbase and Circle Internet Financial.
The service, which has set up shop at GoCelery.com, is available to consumers beginning today.
[blockquote style=”2″]Celery’s mission is to grow digital currency usage beyond the first wave of sophisticated early financial adopters and encourage consumers to use digital currency – for spending with a burgeoning array of retailers, for saving as a long-term investment or simply for exploring the new world of online finance.[/blockquote]
The service will allow the purchase of these two digital currencies using direct bank transfers (which differs from Circle’s method of allowing purchases with credit cards, for example).
“Digital currency is more than a novelty,” company COO Ilya Subkhankulov said. “Major merchants including Expedia and Newegg are validating the market, whilst increasing regulatory clarity is giving more confidence in the stability and value of the technology.”
“However, as the process of acquiring their first coins remains too complex, most consumers are excluded from this revolution. Bitcoin-mining computers are too expensive for most users, while acquiring coins from an exchange requires initiating wire transfers and can take up to five days,” Subkhankulov continued.
“Celery keeps things simple by using friendly language, only asking for basic sign-up information and using direct bank funding, meaning customers can use their first coins from their new Celery wallet dashboard within just three to four business days.”
The idea is to get the digital currency faster and not impede the acquisition process with so-called “administrative hoops”.
Security is a big deal at Celery as well, it would seem. The service plans to keep 90 percent of user funds in cold storage, in addition to encrypting all customer information.
Time will tell, however, if Celery stands up to its major competitors mentioned above.
“We are convinced great times are ahead for cryptocurrencies, but only if adoption can grow beyond experienced financial technology enthusiasts,” said BTX CTO Divya Thakur. “That’s why we are launching Celery to ensure everyone can participate in the digital currency revolution.”