Bitcoin Global News (BGN)
May 02, 2018 -- ADVFN Crypto NewsWire --
Circle, the venture-backed,
highly-successful company that’s been working hard to revolutionize
how we make payments is adding ZCash to its already
successful payment app.
Overall, Circle now offers the
opportunity to easily invest, instantly in six cryptocurrencies,
through its crypto-app. Specifically, in addition to ZCash, support
exists for Bitcoin, Bitcoin Cash, Ethereum, Ethereum Classic, and
Litecoin.
It appears that Circle’s future
roadmap for its crypto-app, which is called “Circle Invest,”
includes adding the functionality needed to invest in most existing
cryptocurrencies and crypto tokens. As of now, it’s unclear exactly
how many coins and tokens this will be.
It is quite clear, however, that
Circle plans to make crypto-investing as user-friendly as they
possibly can as their mission for the app is stated to be making it
fair and easy for anyone to do so. In doing this, they’ve brought
together some kind of group of professionals to help the company
choose which crypto coins and tokens will be best for the app’s
future, but reportedly, Circle declined to provide more specifics
on this group.
With the app in its relative early
stages, having launched only last year, it is also promising that
almost every US state is already supported, with only Minnesota,
Wyoming, and Hawaii apparently still blocked.
In addition to working with
regulators to have states and countries legally supported,
Circle has been
straight forward related to their aim to only
support crypto that fits into their ideas of what should be
acceptable by regulators. Therefore, if a coin is deemed to be more
in a grey area related to global legality, it appears that Circle
would pass it up.
With this in mind, it is striking
that ZCash was chosen, given its
reputation as a privacy coin that uses
zero-knowledge proofs to make every transaction essentially,
completely anonymous. As of yet, it’s not clear what Circle’s
rationale is for ZCash fitting into their ideas related to
regulatory acceptance.
Even so, with their support of six
of the largest cryptocurrencies by market cap, as well as the
stated desire to add more in the near future, Circle might become
the industry’s new and improved Coinbase. If Circle can effectively
market to users that are already dissatisfied with Coinbase’s
relatively high fees as well as high wait times for withdrawals and
transfers, the future of Hodling could prove to be all the more
competitive.
By: BGN Editorial Staff